COST AND MANAGEMENT ACCOUNTANT (CMA)

CMA full form is Certified Management Accounting. CMA certification is provided by Institute of Management Accountants (IMA), USA. CMA Course is the highest credential in Management Accounting and requires professional training.

The US CMA course syllabus has 12 subjects which are divided into Part 1 and Part 2. CMA syllabus consists of subjects like Budgeting, Financial Reporting, costing, internal controls and advanced decision-making areas like Financial Statement Analysis, Risk Management, Marginal Costing, Corporate Finance, Capital Budgeting.

CMA Exams has already taken place this year. CMA Foundation exam took place on July 8, 2022. Intermediate and Final Exams  took place between Aug 31, 2022 to August 7,2022. 

CMA duration is 6-18 months where students can complete both parts of CMA Course. The maximum CMA duration is 3 years. 4000 CMAs are granted certificates each year with a pass percentage of 50% globally.

A Bachelor’s degree from a recognized university along with 2 years of experience is the minimum eligibility for a CMA course. Top CMA Colleges in India are GCEC Jaipur, Evolve Business School, Jettwings Business School, Khandelwal Vaish Girls Institute of Technology

CMA Course Details

Check out the CMA course details in the table below.

What is CMA?

CMA full form is Certified Management Accounting. It is a certificate course provided by the Institute of Management Accountants or IMA in the USA. The Certified Management Accounting course helps to get specialize in Management and Executive level duties.

Candidates pursuing the Certified Management Accounting course explore a good knowledge in the fields of financial planning, financial analysis, cost planning, cost control, cost analysis, decision support, etc.

As per the eligibility of the CMA course, candidates need to have an active membership in the IMA Institute, and also have satisfactory educational as well as experience qualifications. Also they need to come through the CMA entrance exams, and comply with the Institute of Management Accountants concerning the ethical professional practice statement.

Why Study CMA?

There are various reasons to pursue the Certificate Management Accounting course. Check them in the points below.

• Good Compensation – Candidates having the CMA degree with them earn a good amount of money. According to the Payscale the average salary that Certified Management Accountants earn in India is near INR 7.90 lakhs per annum.
• Explore the field of Finance, Accounting and Management – Candidates pursuing the CMA course, gain in-depth knowledge in the field of management, finance, as well as accounting. It is one of the globally recognized designations, which opens the door towards the business world. 
• Plenty of Opportunities – There are plenty of opportunities after completing the CMA Certification Management Accounting course. Candidates can either start a job and work for various renowned companies in top job positions, or they can also pursue higher studies in the accounting field, and strengthen their resume.
• Renowned Job Profiles – Candidates being a Certificate Management Accounting degree holder can work in renowned job positions including Finance Manager, Budget Analyst, Cost Accountant, Senior Accountant, Internal Auditor, Financial Analyst, Corporate or division planner, etc.

CMA Duration

IMA releases the CMA USA certificate once the aspirants successfully satisfy the minimum eligibility criteria. Ideally the CMA USA course takes 7-8 months to complete which is much less when compared to other similar courses. However, the duration might vary from one person to the other since it entirely depends on the particular meeting the minimum eligibility requirements.

CMA Online Admission

Check out the online admission process for the CMA course in the points below.

• Register yourself on the official website of the IMA (Institute of Management Accounting) first.
• Apply for the CMA entrance exams, fill out the application form, upload the necessary documents, complete the process by paying the application fees.
• Upon receiving the registration confirmation, you receive the authorization numbers, testing windows and information bulletin. 
• At www.prometrric.com/ICMA, the exam appointment with Prometric can be scheduled. 

Note: Ensure that the required documents are with you during the exams. It is recommended to schedule your exams fast as the authorization number of the candidates is only valid for the testing window that they selected and can’t be postponed. However, the date of the test can be changed within the same two-month window.

CMA Eligibility

The details of Certified Management Accounting eligibility criteria are given below:

• Membership of the Institute of Management Accountants(IMA).
• Students who have completed Bachelor’s degree from an accredited college or university can apply for CMA course and exam
• Two Years of professional experience in Management Accounting or Financial Management.
• Successful completion of Parts 1 and 2 of the exam. 

CMA Syllabus

Candidates pursuing the CMA course from the USA, will explore the syllabus of the program in 2 parts. Check the Certified Management Accounting subjects in the table below.

CMA Exam

There are two parts of the US CMA course, hence there are two exams of the respective parts. Both the exams consist of 75% of objective questions, i.e., MCQs, and 25% of the subjective questions i.e., essay type questions.

The 6 month testing time frame offered by IMA is divided into 3 testing windows i.e., January-February, May-June and September-October. Candidates have the flexibility to schedule the examinations in the mentioned testing windows. 

The CMA exam has the time limit of 4 hours for part 1 and 2 where 3 hours is given for the objective section and 1 hour to attend the essay questions. Prometric administers the exam with different centres all across the globe. The aspirant must schedule the exam a minimum of 72 hours before. Best option is to schedule it for at least 4 weeks.