Certified Management Accountant

CMA Overview

The CMA is the globally recognized, advanced-level credential appropriate for accountants and financial professionals in business. Achieving the CMA demonstrates your professional expertise in financial planning, analysis, control, decision support, and professional ethics – skills that are in demand by organizations around the world.
Whether you want to enhance the value you bring to your current position, or expand your career potential, the CMA will help you set the standard for professional excellence.

The role of a CMA is important assets in all types of organizations. They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization. CMAs appreciate the business approach for managing customer value, formulating strategies, and valuing equity. CMAs are value creators, not just merely accountants who adhere to compliance to the profession.

Why Become a CMA?

  • International Credibility with the highest qualification in management accountancy in the US which enjoys international recognition as members of IMA.
  • Strong Knowledge Base of management accounting and financial management.
  • Global opportunities in the accounting and financial world certainly with increase in pay packets and prospects.
  • International perspective coupled with increased confidence and competence.

Eligibility:

The CMA program lets you proceed at your own pace. You can earn a CMA in just 9 months or over the course of three years. Busy professionals will find the CMA program to be a time-efficient and cost-effective investment. Criteria to pursue CMA (US):

  • Bachelors Degree in any area, from accredited university/colleges.
  • Minimum 2 years of professional work experience in Management Accounting or Financial Management. This requirement may be completed prior to or within seven years of passing the examination.

CMA Examinations:

CMA program is rigorous and relevant. Exam can be written in the following 3 windows – January-February / May- June and September – October. The two-part testing format requires a mastery of the critical skills and knowledge involved in planning, analysis, control and decision support.

CMA Course Contents

Syllabus:

  • External Financial Reporting Decisions (15%)
  • Planning, Budgeting and Forecasting (30%)
  • Performance Management (20%)
  • Cost Management (20%)
  • Internal Controls (15%)

Marks:

  • 500 (passing percentage 72%)

Question Pattern:

  • 3 hours- 100 multiple choice question (weightage 75%) and 1 hour- 2 essay type question (weightage 25%)

Syllabus:

  • Financial Statement Analysis (25%)
  • Corporate Finance (20%)
  • Decision Analysis (20%)
  • Risk Management (10%)
  • Investment Decisions (15%)
  • Professional Ethics (10%)

Marks:

  • 500 (passing percentage 72%)

Question Pattern:

  • 3 hours- 100 multiple choice question (weightage 75%) and 1 hour- 2 essay type question (weightage 25%)

Frequently Asked Qustions

CMA (Certified Management Accountant) qualification is provided by IMA, US (Institute of Management Accountants), one of the professional accounting bodies of US, the other being AICPA (providing CPA qualification). The CMA (Certified Management Accountant) is an advanced professional management accounting certification specifically designed to measure the accounting and financial management skills that drive business performance. It awards the most coveted and prestigious Qualified Management Accountant designation recognized across the globe. In India, it is officially equivalent to ICWA (now called CMA-India) through a MoU signed between Institute of Management Accountants (US) and Institute of Cost Accountants of India.

IMA or Institute of Management Accountants, US, is the apex management accounting body of United States of America.

IPFC (International Professional Financial Careers Academy) is an internationally reputed institution providing extensive coaching for the CMA (US) qualification through LIVE ONLINE INTERACTIVE CLASSES accessible from home anywhere in the world after working hours. IPFC’s LIVE CLASSES are telecast to more than 45 countries at the same time on specified days of the week.

Bachelor’s degree, in any area, from an accredited college or university is required. Even those pursuing Bachelor’s can do this course; however, they need to provide proof of Bachelor’s degree at the time of certification.

No, you need not go for any prior credential verification. However, degrees not from accredited institutions must be evaluated by an independent agency listed at www.aice-eval.org or http://www.naces.org/members.htm. You will have to produce your graduation certificate and relevant work experience documents to IMA to get the final certification.

To be eligible for CMA certification, you must fulfill all of the following requirements:

  • Membership in the Institute of Management Accountants
  • Paying the Entrance Fee
  • Satisfying the Education Qualification
  • Satisfying the Experience Qualification
  • Passing scores for all required examination parts
  • Compliance with the IMA Statement of Ethical Professional Practice
  • CMA comprises of only two papers (parts).
  • Part 1: Financial Planning, Performance and Control.
  • Part 2: Financial Decision Making

You will have to write two examinations of 4 hours-duration each. Each paper is a 500-mark exam consisting of 100 multiple choice questions (3 hours) and 2 essay type questions (1 hour).

The minimum passing score is 360 out of 500 or 72%.

A serious student can achieve this qualification within 6-9 months. However, IMA will allow you 3 years to complete the 2-part CMA program.

You can write CMA exams three times a year in January/February, May/June and September/October.

CMA exams are conducted ONLINE through Pro metric Examination Centers located across the world, including India.

Yes, you can go for repeated attempts. You will have to pay the examination fee again before taking the exam.

Yes, you can write CMA exams from India through Prometric Exam centers located in every big city. For details, go to www.prometric.com to locate a test center of your choice.

Yes, you can pursue CMA (US) and appear for the examinations but will have to produce your graduation certificate while acquiring the final CMA (US) certification. However, you will get pass certificate after passing CMA Part 1 and Part 2 examinations. Additionally, university students (pursuing Bachelors, Masters or Ph.D.) get discount of about $766 in IMA fee.

Yes, IMA offers heavy discount in the Membership Fee, Exam Entrance Fee and Examination Fee for students pursuing graduation/post graduation or research program. University students (pursuing Bachelors, Masters or Ph.D.) get discount of about $766 in IMA fee.

CMA (US) being an internationally recognized qualification has a special importance in India. It is considered equivalent to ICWA qualification of India (presently known as CMA, India) as per a Mutual Recognition Act (MRA) between IMA, US and ICWA, India.

If you pass CMA exams from India, your qualification will be considered equivalent to ICWA, India. If you pass CMA exams from anytwhere outside India, you will get dual certification of CMA (US) +ICWA, India.

Click the following link to know more about the agreement and MOU with IMA: (http://icmai.in/icmai/aboutus/mou/MOUwithIMA.php)

For the detail syllabus, please click here.

IPFC’s ONLINE classes are conducted throughout the year.

Class timings are convenient both for students and working professionals. Classes are held every Thursday-Friday, Saturday-Sunday from 9.30 PM IST.

IPFC classes are rotational. Hence, there is no batch concept. In fact, 99% of the IPFC students/pass-outs have joined their training in middle of a batch. IPFC ensures that all its students have complete training and conceptual clarity about all the exam content. They also get adequate time for revisions before they go for actual examination.

CMA (US) being a world class professional accounting qualification requires having faculties with rich industry experience, in-depth knowledge of teaching and adequate qualifications. IPFC faculties are themselves CMA (US), Engineers, MBAs from IIM Ahmedabad, ICWA and other prestigious international qualifications.

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