CMA Certification evaluates your competency of focused accounting skills such as company accounting management and it gives you greater credibility and higher earning potential. Also, it prepares you to fit in internal management and decision-making level roles in companies. The holders of CMA Certification are experts in management accounting. They use their skills in both accounting and management to make strategic financial business decisions.
Institute of Management Accountants, IMA headquartered in New Jersey, United States is one of the most respected associations focusing on advancing the management accounting profession. In addition, it helps you expand your professional skills and enhance your career.
CMA Certification Requirements
In order to have this certification, you need to fulfill the following according to IMA:
- Active membership in IMA (Institute of Management Accountants)
- A bachelor’s degree from an accredited college/university or a related professional certification
- Two continuous years of professional experience in management accounting or financial management, which can be completed after passing the exam, but are required as a final step to certification
- Passing Parts 1 and 2 of the CMA exam.
- CMA Candidate Handbook
- Content Specifications Outline
- Learning Outcome Statements
- Visit imanet.org/cma-certification to apply. You will need to purchase the CMA entrance fee and IMA membership.
- Register for the exam. You can register for Part 1 and Part 2 in any order or register for both at the same time.
- Prepare to complete certification requirements
CMA Certification Exam Details
The exam consists of Two parts and it tests 11 financial competencies. They are computer-based and held at Prometric testing center
- Part 1 covers various topics such as Financial Reporting, Planning, Performance, and Control.
- Part 2 covers Financial Decision Making and includes financial statement analysis, corporate finance, decision analysis, risk management, investment decisions & Professional Ethics.
Duration: each part lasts 4 hours
Questions: each part consists of 100 multiple choice questions and two 30-minute essay questions.
- Part 1: 40%
- Part 2: 50%
CMA Program Fees
- CMA Entrance Fee: $250
- Exam Fee: $415 per part