What is CMA Accreditation:
The Certified Management Accountant (CMA) credential qualifies those who get it to work in strategic management and financial accounting settings. Aspirants prefer this pathway because it includes the topics that are not even the part of Certified Public Accountant Certification (CPA) program. Rather than CPA certification that focuses on audit reports and tax returns preparations, CMA qualification deals with management and administrative level tasks.
CMA certified accountants examine budgets for internal analysis and assist organizations in making strategic business decisions. Individuals who are willing to apply for executive positions like chief financial or accounting officer pursue this qualification frequently. Instead of non-certified peers CMA salaries are 68% higher.
Get IMA Membership:
Prerequisite of CMA Exam:
To get basic understanding of accounting and business knowledge quality CMA review courses might be helpful but a CMA candidate must have detailed knowledge of these principles. So, it’s appreciable if one has a bachelor’s degree in a respected field.
An applicant is required to have one of the subsequent education requirements: a professional certification or graduation from a high level educational institution. Candidates with bachelor’s degrees in different specializations can also apply but their transcripts are evaluated on a case-by-case basis, so there is no assurance for approval.
You are eligible to take the CMA exam without any work experience with help of CMA exam prep courses but the institution does require a minimum 2 years of professional experience in management accounting or financial management to entitle you CMA certified.
Examination Structure and Time schedule:
Enrollment and Fee Process for CMA Exam:
After IMA verification of applicant’s degree and professional certifications, they can enroll and pay for the exam.
How to Register:
Requirements for Registration:
Candidates must provide listed information
- Authenticated educational qualification
- IMA membership details
- Payment method to register
When to Register:
It’s time to pay for CMA exam and the fees will contain following charges:
- IMA membership charges
- CMA joining Fee
- Examination fee
Professional members have to pay more fee charges than the student members.
Maintain your Certification:
It’s said that to achieve success is not as difficult as to maintain that success. Congratulations, if you have passed the exam. CMAs must have to take 30 credit hours in the referring field each year to keep hold on certification with annual fee payment.
CMA Exam Syllabus:
Part 1 of CMA includes:
Planning, Budgeting and Forecasting (30%)
External Financial Reporting Decisions (15%)
Cost Management (20%)
Performance Management (20%)
Internal Control (15%)
Part 2 of CMA includes:
Corporate Finance (20%)
Financial Statement Analysis (25%)
Risk Management (10%)
Professional Ethics (10%)
Investment Decisions (15%)
Decision Analysis (20%)
How to Prepare for CMA exam:
Set aside a substantial amount of time to go through the best CMA Study material and quality CMA exam review courses. Pass out rate for this exam is not ideal, this fact implies the complex nature of course.
Make a strategy:
The primary part of a CMA job is to make strategy, so practice it while studying for an exam. Decide on study type and make a competent study plan.
Avoid procrastination because the early study process helps adherence to information. Delays in starting may cause forgetfulness and stress.
Planned schedules produce organisms in life, so make one for yourself. Decide time and and duration for study and follow the schedule and your consistency will repay you.
Get CMA exam prep Courses:
To add an extra layer of knowledge or to impose a new structure it’s better to join quality CMA exam review courses. Register for the best CMA study material, ensure to take the course from an authentic website or institution.
Join Practice Tests:
If you struggle with MCQs, you can get incredible benefits from practice tests. To match your pace with the exam schedule it’s best to take as many practice tests as you can, but before solving tests make sure the relevancy and authenticity of them.
CMA is one of the most valued accreditation worldwide, to boost your career start and increase your market value pay considerable attention to this credential. It opens the doors of a wide range of industries. Eventually, the plan to keep pursuing the CMA program depends on your career objectives and as well your strengths.
This management designation is perfect for professionals who want to employ in management careers, individuals who want to work at executive positions.