CMAs are key business partners and powerful money-related administrators. They also drive business execution. Experts with the CMA can earn more than $34,000 more in aggregate remuneration per year than their non-certified counterparts.
The CMA (Certified Management Accountant), program is one of the most prominent and widely recognized advantages available to qualified IMA professionals. The CMA certification demonstrates a high level of professionalism and brilliance in the field. Driver bosses are well aware that the CMA assignment reflects strong achievement in the calling and a sense of responsibility.
This highly respected program is designed to assess mastery in the most basic training ranges for bookkeepers and money-related experts working in organizations and associations. Each part of the confirmation will include after zones. IMA and other course providers offer qualified competitors a range of adaptable exam ponder options (self-examine and live direction), to make winning your CMA as easy as possible.
The CMA’s two parts are regulated in an easily understood PC-based testing position at exam centers in many urban communities around world. The CPA exam has a shorter extension, but it is less than the CMA exam. The CPA exam tests most of the above and also reviews business law and tax assessment. The CPA exam has four sections, rather than the usual two.
The CMA exam preparation is not as extensive as the CFA exam. Although the questions can be complex and long, they are not intended for testing exceptional propelled information in exam subjects.
The first segment covers money-related bookkeeping, arranging, planning, execution administration, cost administration, and inward control. The second section covers budgetary articulation investigations, corporate back, choice exam and hazard administration. It also includes speculation choices and expert morals.
How do you become a CMA?
It is important to understand your profession and the benefits of this certification. CMA preparation can be done in the following ways:
1. Recognize the Benefits of CMA Certification
The Institute of Management Accountant (or the IMA) in the USA grants the CMA certification. To take the exam and keep your CMA title active, you must first become a member.
2. Join the CMA Program
The CMA exam is not automatically initiated by joining the IMA membership. To do this, you must enroll in the CMA program. Although many candidates choose to join the CMA program and the membership, it is not required.
Only apply for the CMA program if you are ready to take the exam. After you have paid the entrance fee and enrolled in the program, you must:
Within 12 months, you can begin taking the CMA exam.
Completion of the CMA program in 3 years
3. Register for the Exam Parts
After completing the CMA program you can register for the exam. The exam consists of two parts:
Part 1: Financial Planning and Performance.
Part 2: Financial Decision Making
It doesn’t matter which part you take first. You can take two parts at the same time if you are confident.
You can register online, by telephone with credit card information or by mail.
These are the steps:
Decide which exam section(s) you want to take and when to do it.
Watch out for an email that confirms your registration in the exam section(s).
For professional membership, pay the exam registration fees ($395 for each part).
4. Find the nearest test center and schedule the exam
After successful registration, you will be able to schedule the exam parts at prometric centres in the USA and around the globe.
5. Get ready for the Exam
New CMA candidates get a 6-month free subscription to the Exam Support package on the IMA Learning Center. This starts on the day that you pay your entrance fee.
I recommend that you take CMA preparation review courses to increase your chances of passing.
6. You must have a minimum of one year of experience in the workplace.
Two years continuous experience in financial management or management accounting is required. Part-time work is acceptable, but internships or training programs are not.
7. Compare CMA with Other Accounting Certifications
This certification requires a significant investment of time, energy, and effort. Please take the time to evaluate how CMA will help you in your career and personal development. Also, consider whether this qualification is the right choice for you based on your goals and background.
8. Is it possible? Do You Have the Ability to Make It?
You are confident that CMA is the right choice. But how do you prepare for the exam? What is the exam?