:: CMA

The Certified Management Accountant (CMA) by IMA (Institute of Management Accountants) is an advanced, globally accepted contemporary professional certificate that supports management accounting and finance professionals who drive business performance .CMA’s play an integral role in the strategic decision-making process, within the organization. A CMA professional upholds the highest level of professional and ethical standards. Many large, multi-national manufacturers and employers regard highly the CMA designation.

IMA’s The Certified Management Accountant (CMA ) Program has been designed to recognize the unique qualifications and expertise of those professionals engaged in Management Accounting and financial management. These certifications provide distinction in today's economic climate and afford the opportunity to certify your expertise in business areas that are critical to the decision-making process going beyond the practical accounting skill.

An extensive and advanced-level curriculum requires candidates to demonstrate thorough knowledge of accounting, finance and important related fields, as well as the ability to integrate accounting and financial information into the business decision process. No other accounting or finance credential lends itself more directly to today's complex and changing business environment. The Certified Management Accountant designation is designed to recognize professionals with education and experience in the management accounting arena.

Management Accounting is the study of managerial aspect of accounting. The emphasis of management accounting is to redesign accounting in such a way that it is helpful to the management in formation of policy, control of execution and appreciation of effectiveness.

Management accountants work at the “beginning” of the value chain, supporting a decision making, planning and control. Management accountants are highly valued as supports organization's strategic goals. With a renewed emphasis on good internal controls and sound financial reporting, the role of the management accountant is more important than ever to drive economic value.

A CMA professional differs from other practitioners in his knowledge, dedication to the profession, excellent performance with his promise to hold the highest ethical standards.
Management Accountants plays a vital role in setting strategic goals for an organization. Expertises in the field are highly awarded. When certified professionals earn approximately 25 percent more than non-certified professionals, CMA and CPA professionals earn 32% more.

Subject & Module

The syllabi is distributed in 2 parts.

Part 1 -        Financial Planning, Performance and Control

(4 hours – 100 questions and 2 essay questions)

Planning, Budgeting and Forecasting                30%

Performance Management                              25%

Cost Management                                          25%

Internal Controls                                            15%

 Professional Ethics                                         5% .

Part 2 -         Financial Decision Making

(4 hours – 100 questions and 2 essay questions)

Financial Statement Analysis                            25%

Corporate Finance                                           25%

Decision Analysis and Risk Management            25%

 Investment Decisions                                      20%

Professional Ethics                                            5%

The CMA exam is a computer-based exam offered throughout the year. The exam windows are; January, February, May, June, September and October. The examination consists of 100multiple choice questions (no –ve mark) and 2descriptive questions. The pass mark is 500 out of 700. Exam will be graded and the results mailed to you approximately 45 days after the end of each testing period.

Eligibility

Students undergoing graduation can apply for IMA registration and can appear for the CMA exams. However, to meet the educational requirements for the CMA certification, you need to hold a bachelors degree, in any area, from an accredited college or university. Post Graduates and Finance/non finance professional is also eligible. The members of ICWAI and ICAI will not get any waivers in the CMA exams.

Passing Requirement

The two-tiered CMA exam is intended to develop and measure critical thinking, analyzing and decision-making skills of the candidates. Subject knowledge is critically evaluated. The exams are graded according to a "scaled score." The highest possible score is 700, and the lowest possible score (equivalent to zero) is 200. The passing score is 500. Are all of the questions for the CMA exam is equally important with same weight? Yes, all of the questions carry the same weight in determining if you pass or fail the exam. If you come across a long or difficult question, you can guess an answer, then mark the question and go on. At the end of the exam, it is possible to come back to this question and spend more time on it.

Fee Structure

Registration with IMA - $ 410

Exam fee - $350 per exam.

Membership renewal fee - $ 195 (yearly)

Membership

CMA is a global certification. IMA's CMA certification is a passport for global opportunities. The CMA certifications offered by the IMA are standards of quality and expertise. The certified financial professional possesses knowledge, skills, and abilities required globally by the contemporary financial profession. By preparing for CMA you will obtain and systemize contemporary professional knowledge, as well as develop skills and abilities which are required by successful businesses. In short, it will improve your value as a financial professional. In this extremely competitive world, CMA professionals standout with their high level of competence in corporate finance and management accounting

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