About the CMA® Program
The Certified Management Accountant (CMA®) credential is the advanced professional certification provided by Institute of Management Accountant’s, USA.
It demonstrates your command of the critical accounting and financial management skills demanded by today’s dynamic businesses, translating into significant career opportunities for you.
The first CMA® exam was offered in 1972, and the program is celebrating 43 years as the Gold standard certification for accountants and financial professionals in business.
Benefits of the Program
CMA®’s get paid more – IMA MIDDLE EAST SALARY SURVEY 2012 50% more in salary and 41% more in total compensation than non-CMA®s.
Exam Exemptions − All exams of the ICWAI (Institute of Cost and Works Accountants of India), Three exams from the ACCA (Association of Chartered Certified Accountants): F1, F2 and F3.
Career Enhancement – A CMA® has the opportunity to move to different Job Functions, OR get promoted a higher status, OR jump between Markets & Industries.
Networking – A lifelong platform to the world’s most prominent management accountants, expanding opportunities within the world of accounting and finance.
Leadership Skills – Completing the rigorous requirements for the designation represents commitment to professional excellence, significant to the profession, positioning you as a leader in the accounting field.
Global Recognition – With CMA® candidates in over 100 countries, the designation’s acknowledgement, career and professional development has increased greatly over the years.
course of study
The CMA® exam is a two part program:
Part 1 – Fundamental tools and techniques used in management accounting and the theories that underlie their use. Specific areas of coverage and their weighting in the CMA® Exam Part I are:
| PART 1 – Topic Areas | Exam Weight |
|---|---|
| External Financial Reporting Decisions | 15% |
| Planning, budgeting and Forecasting | 30% |
| Performance Management | 20% |
| Cost Management | 20% |
| Internal Controls | 15% |
Part 2 – Application of the tools and techniques covered in Part I; deeper study into major areas of management accounting. Areas of coverage include:
| PART 2 – Topic Areas | Exam Weight |
|---|---|
| Financial Statement Analysis | 25% |
| Corporate Finance | 20% |
| Decision Analysis | 20% |
| Risk Management | 10% |
| Investment Decision | 15% |
| Professional Ethics | 10% |
Examination Process and Testing Methods
- Computer based exams.
- Schedule your exam appointment and select your exam location with the Prometric test center
- There are 3 exam windows to choose from: Jan-Feb / May-June / Sept-Oct
- It is possible to attempt both parts (CMA® P1 and CMA® P2) in the same window.
- If a candidate has failed an exam part, he/she must wait until the next exam window to re-attempt the exam.
- Result are released after 6 weeks from the time the exam was taken.
| Fees | CMA® Part 1 & Part 2 |
|---|---|
| IMA yearly membership Fee | $220 |
| One time registration | $15 |
| Exam entrance fee | $240 |
| Exam fee per part | $415 |
*Please refer to IMA website http://www.imanet.org/ for changes/updates in exam and enrollment fees.
| Exam | Exam Descriptions |
|---|---|
| CMA® Part 1 (4 hours) | 100 MCQ’s + 2 Essays |
| CMA® Part 2 (4 hours) | 100 MCQ’s + 2 Essays |
Eligibility to take CMA Exam
- A candidate must be an IMA® member.
- Complete Entrance & Exam Payments.
- Receive authorization no., Instruction and Exam Support Package from IMA®.
- Schedule an appointment, and location with the Prometric testing center.
exam results
Registering for the CMA® Exam
Steps to be Eligible for the CMA® Certification
Step 1: Become member of IMA – Complete membership payments
Step 2: Pay the Entrance fee and pass all the required examinations in the set time frames.
Step 3: Have a bachelor’s degree from an accredited university or ACCA certification.
Step 4: Satisfy the 2 year Experience Requirements
Step 5: Comply with the IMA’s® Ethical Professional Practice
Preparation for the CMA® Exams
Each part of the CMA® program requires 60 – 100 hours of study. However this number can vary depending on the candidates academic background and work experience.
This implies that the candidate must commence his/her preparation 2 to 3 months prior to the exam date.
Exam material undergoes some changes each academic year. Ensure you are studying the most current version of the material.
Successful completion of the CMA® examinations (two exam parts) is one of the necessary steps towards gaining the CMA® Certification and EDGE can help ease your way through this examination quotient.
EDGE education provides varied course structures for their CMA® Part 1 and CMA® Part 2 trainings. All sessions are instructor led, delivering material from the CMA® curriculum.