CMA, or Certified Management Accountant, is a professional certification in management accounting and financial planning. With CMA certification, a person is certified to possess in-depth knowledge in areas of financial planning, analysis, control, decision support, and professional ethics.
CMA professionals are high on demand in organizations of all sizes including Manufacturing companies, Public & Private enterprises, Government, Academic Institutions, Multinational Corporations, and so on.
What are the eligibility factors to appear for the CMA exam?
To become a CMA, the following criteria need to be fulfilled:
- A Bachelor’s Degree from an accredited college or university.
- Join the Institute of Management Accountants.
The IMA is the parent organization of the ICMA, which administers the CMA exam. Part of the process of becoming a CMA involves joining the IMA and being an “active member.” All this means is that you have to pay their annual fee. Membership in the IMA is steep at $245 per year, but there’s a big discount for students that makes it only $39 per year.
- Pay the CMA certification entrance fee.
The fee is $250. If you are a student, the fee comes down to $188. You must complete this step before you can register for the exam.
- Register for the CMA Exam by paying the registration fee.
The fee to take the CMA exam is $415 per part and $311 per part for students. Between the exam fees and the cost of getting a review course, this part of the process gets costly.
- Receive a Registration acknowledgment form which provides your authorization number(s), testing window(s), instructions for candidates, and access to the CMA Exam Support Package.
- Schedule your exam appointment with Prometric.
- Appear for your scheduled exam appointment with the required identification documents.
- Complete Part I and Part II of the CMA exam.
- You should have two continuous years of relevant professional experience. A candidate should employ the principles of management accounting and financial management in their experience period.
Candidates, who have cleared their CMA Exam, will require the following in addition:
- 30 hours of CPE credits including 2 hours of professional ethics.
- Payment of an annual membership fee to the Institute of Management Accountants in order to maintain the active status.
What is the CMA exam all about?
The Certified Management Accountant Exam is a two-part exam that must be passed as a prerequisite to earning the CMA designation. Candidates are given three years from the date of registration to pass both parts of the exam. The exams are given during three testing window periods — January-February, May-June and September-October at different Prometric centers.
Where can you get complete guidance on CMA?
Wiley Online Training provides you with all the comprehensive study material designed by key industry experts for the CMA exam. Moreover, Wiley has a legacy of training over half a million students. The Wiley Online Learning Center is considered to be the most preferred instructor-led learning center around the globe. If are a CMA aspirant and looking for guidance, Wiley is the ideal choice for you.