Certified Management Accountant (CMA)
US CMA
US CMA course stands for Certified Management Accountant. It is the highest level of certification for management accountants awarded by the Institute of Management Accountants (IMA), USA. The Institute of Management Accountants (IMA), USA has 140000+ members spread across 150+ countries and 300 chapters.
The US CMA course details outline the exact skills that you would need to enter the finance industry and adjust to the changing demands of the business and business world. This certification is the ultimate goal for those who are working in the accounting and finance-related sector and wish to expand their careers globally in as little as 6 to 9 months.
Benefits of US CMA Course
- The US CMA certification shows your knowledge of financial management and can help you improve your career opportunities.
- One of the key benefits of the US CMA course is that it prepares you for decision-making roles so that you can lead and guide the organization/team members.
- US CMAs have a significant influence on the financial decisions that a firm makes since they manage both finances and accounts.
- Being a US CMA includes having a large amount of responsibility for making strategic decisions because having the certification makes you look capable to managers.
- Earning a US CMA certification can increase your salary by 58% than a non-CMA, according to industry research.
Core Skills of Certified Management Accountant
-
Right Strategy:
US CMAs are often the first to design strategies related to accounting, operations, bookkeeping with the help of their deep understanding of financial statements and the right process. -
High Performance:
Performance management is a core skill of CMAs that helps the candidates improve results across departments. -
Reporting And Control:
All the USA CMAs are the trusted advisors in reporting and financial control that contribute to preserving the organization’s financial stability, which is also one of the benefits of the US CMA course. -
Technology And Analytics:
With the US CMA course subjects that cover AI and ML, CMAs are prepared for modern financial analysis and tech-driven decision making. -
Business Insight And Operations:
US CMAs shape business strategies and this knowledge is taught in the US CMA course which improves decision making. -
Leadership:
Since managing is in the title of a US CMA, one of the most important traits of a US CMA is the ability to manage a team. -
Professional Ethics:
A US CMA’s ability to lead others makes sure of their professional values and ethics. -
Financial Analysis:
US CMAs break down complex financial data and turn it into clear information for business leaders to understand which can be acquired in the US CMA course details. -
Budgeting And Forecasting:
They are the experts at planning the budgets and predicting future trends by using their financial knowledge they acquire through a US CMA course. -
Cost Accounting:
One of the benefits of US CMA is holding out measurable responsibilities for leaders and stakeholders. -
Risk Management:
They measure and manage financial risks to help businesses make safer and smarter decisions. -
Communication:
US CMAs explain financial matters in a way everyone understands for which they are proficient in communicating. -
Problem Solving:
They work with teams to think critically and solve real business problems fast and effectively.
US CMA Course Subjects
Below are the US CMA course details, which includes both parts of the exam as well as the topics that are covered.
| CMA Part 1: Financial Planning, Performance, and Analytics | |
|---|---|
| Topic | % Of Exam |
| External Financial Reporting Decisions | 15% |
| Planning, Budgeting, and Forecasting | 20% |
| Performance Management | 20% |
| Cost Management | 15% |
| Internal Controls | 15% |
| Technology and Analytics | 15% |
| CMA Part 2: Strategic Financial Management | |
|---|---|
| Topic | % Of Exam |
| Financial Statement Analysis | 20% |
| Corporate Finance | 20% |
| Decision Analysis | 25% |
| Risk Management | 10% |
| Investment Decisions | 10% |
| Professional Ethics | 15% |
US CMA Eligibility Criteria
Educational Qualification:
- To be eligible for the US CMA course, you must have a bachelor's degree from an accredited college or university. Either that or you must hold a related professional certification. Students who are pursuing their bachelor’s degree or a professional certification can also appear for the exam but they will have to submit proof that meets the educational requirement within seven years of completing the exams.
Experience Requirement:
- You need to have 2 years of continuous working professional experience in either the accounting or finance field. This experience can also be completed before taking the exam or within 7 years after passing the exam.
US CMA Course Duration
The US CMA course duration depends on your own dedication and pace. It can be completed in a minimum of 9 months or within a maximum time limit of 3 years from the date of registration. To earn the certification, you will have to clear 2 papers (Part 1 and Part 2) that can be given in any order that you like.
US CMA exams are available during the following periods each year:
Students could appear for exams in any order for Part 1 and Part 2:
Jan-Feb
May-June
Sep-Oct
Career Pathways After US CMA Course
Taking the US CMA course and earning a certification can get you many career opportunities in strategic and decision-making roles. The US CMA course details cover everything from financial reporting to analytics and it can give you the skills you need in today’s finance industry. The specialized knowledge gained through the US CMA course subjects makes certified professionals well-equipped to lead financial teams and contribute to the growth of the business.
Here are some of the top roles you can pursue after meeting the US CMA eligibility requirements and completing the US CMA course duration:
Chief Financial Controller
Chief Financial Officer
Financial Manager
Risk Manager
Financial & Planning Analyst
Management Accountant
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Cost Accountant
FAQs
It totally depends on your dedication and commitment. You can complete the US CMA course for up to 3 years from the date of registration. But with a consistent study schedule, the US CMA course details and proper guidance, many candidates complete it within 6 to 9 months.
You would need a bachelor’s degree or students pursuing bachelor’s are also eligible but they would need to submit proof within 7 years of passing the exams. You are also required to have at least 2 years of continuous experience in accounting or finance, completed before or within 7 years of passing the exam.
US CMA earns 20 lakhs per year and an entry-level US CMA with less than 3 years of experience can earn an average income of 7.6 lakhs per year.
Since the average rate of passing aspirants is 45% which is less than half the total aspirants appearing for the exam, the difficulty of US CMA examination is quite hard but with the right course details, one can definitely be able to crack it in months.
The US CMA can not be considered "easy," but it can be manageable if you have the right strategy with you and dedication. It also requires a solid and complete understanding of accounting, finance, budgeting and analytics. With a consistent study schedule and proper guidance, many candidates complete it within 6 to 9 months.
No, US CMA is generally considered easier than CA. It has a shorter duration, a more focused syllabus and higher pass rates which makes it more manageable for most students.
Yes, one can pursue US CMA along with B.Com.
Yes, US CMAs have a bright future because they are frequently hired by international corporations for roles in corporate finance.
In the 12th grade, math is not a required subject according to the US CMA. To pursue a career in US CMA, one must have a solid understanding of fundamental math, though.
Many global and Indian companies recognise the certification, especially in roles that are related to management accounting, financial planning and analysis. US CMA holders are high in demand at firms like Big 4s, Accenture, Amazon, EY and Genpact.
