CMA as a Profession
CMA is a person who offers to perform services involving the costing, pricing of goods and services or carries out the preparation, verification or certification of cost accounting and related statements. The role and importance of cost accountants has increased manifold on account of growing competition in the corporate sector. Their job broadly stating essentially comprises of closely analysing costs and devising ways to reduce it as far as possible. CMA assists in planning, monitoring and controlling the cost and price of a product or a service. Nowadays with multi-product ventures taking place, it has become important to know and understand the exact cost of production every of product and service at different stages, to minimize the expenditure incurred on them and to ensure optimum utilization of resources. This is where the role of cost accountant comes.
Cost Accountants hold key positions as Chairman, Managing Director, Finance Director, Chief Finance Officer, Chief Executive Officer, Finance Manager, etc in MNCs, Private and Public Sector, State and Central Government. Many of the Public Sector Units like Coal India, ONGC, NMDC, STC, MMTC, Allahabad Bank and Corporate houses like Nestle, TCS, HCL, TVS, Vedanta, Wipro regularly look for CMAs. The institute has a Placement Directorate that provides assistance in placements across sectors. The CMAs can also carry out independent practice and deploy their services across sectors.