“CMA USA OR ACCA IN SAUDI ARAB? DISCOVER WHICH QUALIFICATION LEADS TO HIGH POTENTIAL SALARIES.”
CMA USA and ACCA are well-known accounting credentials in Saudi Arabia; either of the qualifications is internationally recognized and valued in the job market. However, despite both being globally-accredited accounting certifications, they offer different careers and potential salaries. Therefore, before making the academic decision, aspirants typically aim to get insights into the potential careers CMA USA and ACCA in Saudi Arab offer so that, based on the information acquired, they can make informed decisions.
However, as students usually have very limited knowledge about both qualifications at the beginning of their academic journey, performing a comparison of CMA USA vs ACCA is not very convenient for them. Nonetheless, to help such candidates out and enable them to make more informed decisions, we have tailored this virtual, insightful guide. In this blog, we have compared the careers offered by both the credentials so that aspirants can make the right academic choice depending on the provided insights.
WHAT IS ACCA IN SAUDI ARAB?
ACCA (Association of Chartered Certified Accountants) is a globally well-recognized accounting qualification consisting of an extensive curriculum; the credential focuses on diverse areas of study including accounting, finance, audit & assurance, risk management, etc.
WHAT IS CMA USA IN SAUDI ARAB?
CMA (Certified Management Accountant) is a specialized accounting credential mainly focused on management accounting and corporate finance; this certification is best suited for candidates who aim to pursue FP&A, corporate finance, or management accounting later in their careers.
CAREER PROSPECTS OF CMA USA VS ACCA:
Below we have compared the careers offered by either of the qualification paths; it includes common job roles offered, career progressiveness, and potential salaries.
1: CAREER OPPORTUNITIES AFTER ACCA IN SAUDI ARAB:
As the ACCA curriculum is diverse and comprehensive, it equips aspirants with a wide knowledge base and a strong skill set, which opens the door to better and enhanced career opportunities in diverse areas. Some of the common roles offered in the region are from the areas enlisted below:
- Management accounting
- Financial reporting
- audit & assurance
- taxation
- performance management
- Strategic Business Leadership roles.
All the careers offered to ACCA-qualified professionals are typically progressive and lead them to executive-level positions over the years. The ACCA jobs are also popular amongst aspirants for the competitive potential salary packages offered to the qualified chartered accountants; however, it can vary from person to person based on an individual’s skillset, experience, and the professional level of the job one has applied for.
2: CAREER OPPORTUNITIES AFTER CMA USA IN SAUDI ARAB:
CMA USA in Saudi Arab is also an accredited accounting credential; however, like the other certification, its scope is not wide; instead, it is a specialized certification focused on core areas. Therefore, the jobs are also filtered; professionals with CMA USA certification can work in roles related to FP&A, data analytics, budgeting, forecasting, internal controls, and financial statement analysis. Nevertheless, with sufficient industry-relevant expertise and credible work experience, CMA professionals in Saudi Arab can make a decent amount of money.
WHICH CERTIFICATION PAYS BETTER BETWEEN ACCA AND CMA (USA) IN SAUDI ARAB?
The demand for ACCA-qualified professionals in Saudi Arabia or elsewhere in the world is high in diverse sectors, including taxation, audit, risk management, financial reporting, etc; therefore, it has been observed that these professionals are paid well based on their professional/ job level. Whereas the CMA (USA) certified professionals can make more money only if they work in corporate finance and management accounting roles efficiently,
CONCLUSION
It is advised for aspirants pursuing CMA USA and ACCA in Saudi Arabia not to choose the academic path solely based on the money if offered; instead, choose a qualification based on your interests, career goals, and academic competencies. Nevertheless, the academic and career comparison of CMA USA vs ACCA performed in this blog is insightful and can influence aspirants to pick the right side.
FREQUENTLY ASKED QUESTIONS (FAQs)
Q1: How many exams does the qualification of ACCA in Saudi Arab comprise?
Ans: The ACCA certification consists of thirteen exams in total, which students must pass to earn the globally acknowledged accounting credential; each module is comprehensive and focuses on skills development.
Q2: Is there a scope for accounting and finance careers in Saudi Arabia?
Ans: Yes, lately the financial sectors in the region are getting stronger, requiring qualified finance and accounting professionals; therefore, the demand is significantly on the higher side.
Q3: Which industry-relevant skills give accountants a competitive edge in the job market?
Ans: Skills that can earn accountants a competitive edge in the job market include sustainability reporting, green accounting, familiarity with digital/AI accounting tools, and strong analytical expertise.
