Certified Management Accountant (CMA)
|Starts on||Frequency’s / Timing||Duration|
|May 29, 2020||Friday Only / 04:30 PM to 07:30 PM||60 Hours|
The Certified Management Accountant credential is an advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance. The CMA course is tailor-made for accounting and finance professionals at all levels, whether you want to enhance your value to your current organization or expand your career potential. Earning the CMA will make you part of a network of over 78,000 credentialed peers worldwide.
The Certified Management Accountant course has been designed to meet the evolving needs of business – today and tomorrow. We look forward to helping you achieve excellence as a professional. Certification will confirm your proficiency in your chosen field and your dedication to personal and professional growth.For more information about the CMA course please visit IMA official website – https://www.imanet.org/cma-certification?ssopc=1
- To develop the area of management accounting as a recognized profession by identifying the role of the management accountant in the field of risk management, internaldecision making, planning and cost management, budgeting etc..
- To administer a certification designed to validate competence and practical skills of accountants employed by today’s dynamic business entities.
- To set minimum criteria in measuring academic standards in the field of management accounting.
- To embolden management accountants to keep abreast of the changing conditions in the global business environment and pursue continuing professional development.
- Strengthen your skills: CMA® holders demonstrate superior knowledge and skills in accounting and financial management.
- Connect with your peers: grow your professional network through the Linkup IMA community, conferences and local chapter.
- Inform your strategic viewpoint: expand your knowledge with thought leading publications and research.
- Expand your career potential: market yourself with a portfolio of customized professional development services.
- Be part of a large network of professionals: start receiving the value enjoyed by more than 60,000 accounting professionals worldwide.
- Gain priority when applying for jobs: International and local companies will give you priority when hiring for their finance related positions.
- Increase your earnings: CMA® holders can expect up to 40% salary increases
For more details on IMA-CMA salary survey. Please visit https://www.imanet.org/career-resources/salary-information?ssopc=1 .
To sit for the CMA exam, the candidate must meet or is expected to meet one of the following:
1. Membership in the Institute of Management AccountantsIMA Membership Fee
Professional Membership – $245
Academic Membership – $135
Student Membership – $ 39
2. Paying the Entrance FeeIMA Entrance Fee
For Professionals – $250*
For Student/Academic – $188*
3. Satisfying the Education QualificationEducation Qualification
o Bachelor’s degree from an accredited College or University.
o If Bachelor’s degree is not available or the experience, you can sit for the exams and fulfill the educational and experience requirements within 7 years.
4. Satisfying the Experience Qualification.Experience Qualification
o Two continuous years of professional experience in management accounting and / or financial management.
o This requirement may be completed prior to or within 7 years of passing the examination.
o Continuous part-time positions of 20 hours per week (at a rate of one year of experience for every two years of part-time employment).
5.Passing scores for all required examination parts
6.Compliance with the IMA Statement of Ethical Professional Practice
- IMA has an active Mutual Recognition Agreement with the Institute of Cost Accountants of India (ICAI).
- Upon payment of the annual IMA membership fee and the one-time CMA entrance fee, ICAI’s certified members may waive both parts of the CMA exam.
- CMAs interested in obtaining the ICAI credential may waive the ICAI exam.
- ACCA’s fully certified members are automatically recognized as having met the education requirement for entrance to the CMA program ACCA members must complete and pass both parts of the CMA Exam.
- CMAs are eligible for exemptions of 7 of the Fundamentals level examinations in the ACCA Qualification.
Part 1 – Financial Reporting, Planning, Performance and Control1. External Financial Reporting
2. Planning, Budgeting and Forecasting
3. Performance Measurement
4. Cost Management
5. Internal Controls
Part 2 – Financial Decision Making1. Financial Statement Analysis
2. Corporate Finance
3. Decision Analysis
4. Risk Management
5. Investment Decisions
6. Professional Ethics
Each exam part will consist of 100 multiple choice questions and two 30-minute essay questions.
For Professional Members:CMA Entrance Fee (nonrefundable) – $250*
Exam Fee – $415 per part.
For Student/Academic Members:CMA Entrance Fee (nonrefundable) – $188*
Exam Fee – $311 per part.
*IMA membership is additional and also required.
IMA Membership FeeProfessional Membership – $245
Academic Membership – $135
Student Membership – $ 39
- Take Part 1 and Part 2 in any order
- Testing windows are offered in January/February, May/June, and September/October
- Each exam registration is valid for only one exam window
- Students may take the exam before graduating
- All CMA candidates have three years to pass both parts of the exam.The time period will begin with the date of your entry into the CMA program
- The minimum passing score is 360 for both parts of the exam. The exam score range is 0-500
- All retakes require a new exam registration
- a. $415 for professionals, b. $311 for Students/Academic members
- Chief Financial Officers (CFO)
- Chief Executive Officers (CEO)
- Cost Accountants
- Senior Accountants
- Corporate or Division Planning Managers
- Financial Analysts
- Budget Analysts
- Internal Auditors
- Finance Managers
- Vice Presidents
- Treasurers/Treasury Manager
- Upon completion of all parts of the CMA exam, you will be required to complete 30 hours of continuing education annually, 2 hours of which must be in the area of Ethics.
- Reporting of continuing education is done in conjunction with the annual recertification invoice.
- Credit will be given for subjects relevant to a management accountant’s or financial manager’s career development and related to employer needs.
- The ICMA grants credit for programs sponsored by education organizations, employers, business organizations, and professional and trade associations.
- Programs may be in the form of college courses, seminars, workshops, technical meetings, self-study packages, or online courses