The Certified Management Accountant (CMA) designation signifies proficiency in financial accounting and strategic management. Individuals who hold this accreditation are qualified for various roles, including financial controller and chief financial officer (CFO).
The Role of Certified Management Accountants (CMAs)
- The Certified Management Accountant (CMA) designation combines financial accounting expertise with management skills to help make informed business decisions based on financial data.
- CMAs may produce specialized reports with performance data on specific business units, products, or individuals in addition to following generally accepted accounting standards (GAAP).
- CMAs are bound by a strict code of ethics, similar to other financial credentials such as Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA).
- To be eligible for the CMA, candidates must have a bachelor's degree or relevant professional certification and two years of continuous work experience in a related field.
- Passing a rigorous exam, which requires over 300 hours of preparation, is also required to obtain the CMA designation.
- CMAs must be members of the Institute of Management Accountants, according to the Financial Industry Regulatory Authority (FINRA).
The demand for accountants, including CMAs, is projected to increase by 4% from 2019 to 2029 due to the lack of standardization in management accounting systems. The CMA designation is one of the world's top management accounting degrees, offered by the Institute for Management Accountants (IMA). The CMA program uses advanced testing procedures to determine if candidates from all over the world are worthy of the title CPA. Thousands of applicants take the CMA exams in the US every year to advance their careers as Management Accountants or Finance Analysts, among others.
Eligibility for US CMA
- The IMA, the world’s most prominent management accounting organization, administers the US CMA Exams. All applicants who pass two CMA tests are eligible for membership in the IMA.
- The 12th grade in India (or an associate degree outside of India) is necessary to sit for the CMA examinations in the United States.
- To be eligible for a CMA credential, you must have graduated.
- Graduating students are also eligible for the US CMA credential.
The CMA USA certification instills confidence in an individual's financial and managerial expertise, making them a sought-after candidate by employers worldwide. The certification opens up various job opportunities for CMA professionals, including the following:
- CFO
- Business Analyst
- Manager of Financial Risk
- Financial Accountant
- Accountant (Cost)
- Cost Controller
- Analyst of Risk
- Financial Analyst
How to Become a CMA
- To become a CMA, a bachelor's degree in any field other than arts is required.
- Students in their final year of a bachelor's program can also pursue CMA but need a degree and two years of relevant experience to obtain the certification.
- Register with the IMA by paying a small fee.
- Pay the examination fee that is valid for three years and must pass both parts of the test within that time frame.
- Enroll at a reputable CMA training institution to increase your chances of passing the exam.
It is crucial to utilize your time effectively after registering for the CMA exam. To increase the likelihood of passing the test, it is recommended that you study under the guidance of experienced professionals. Miles Education is a top provider of accounting training, with tailored training programs and a large alumni network.
- Schedule and take the exam when you feel prepared.
If you need more information on the US CMA course, please feel free to Contact Miles Education or mail us at info@mileseducation.com.
