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The 2023 IMA Global Salary Survey Report found that a certified management accountant’s salary in the US is 24 percent higher median total compensation than a non-certified management accountant []. Career advancement Career advancement and increased career opportunities are among the top reasons people earn the CMA certification. The CMA can be the qualification you need to move into better-paying positions, holding job titles in upper-level management and beyond. Holding a CMA certification may make you eligible for job titles such as financial analyst, corporate accountant, senior accountant, or chief financial officer. Increased career versatility Beyond the job title you earn, holding a CMA certification can also expand your duties and responsibilities in the field of financial management, which can add to your career versatility. Because the CMA certification is internationally recognized, holding the CMA certification also presents opportunities to work in international markets or other countries.Greater credibility The CMA certification is a highly respected credential that carries a lot of respect from potential employers. Better job prospects are expected for those carrying the CMA credential while also earning respect and recognition. You will typically find employers better trust your knowledge, intuition, and decision-making when you’ve gone through the CMA program process. How to become a CMA To become a certified management accountant, you must pass the CMA exam. To be eligible to take the exam, you must meet the required educational prerequisites, gain professional experience in financial management, join the certifying board of IMA, and enroll in the CMA program. After meeting these requirements, you are ready to take the two-part CMA exam. Once granted certification, you need to maintain your certification per IMA requirements. 1. Earn a bachelor’s degree or related professional certification. For eligibility to enroll in the CMA program, you need a , , or a related field. In some cases, a professional certification in a related field from an accredited program is accepted in lieu of a bachelor’s degree. 2. Gain at least two years of relevant professional experience. You need to be able to demonstrate employment for at least two consecutive years in financial management or management accounting to be eligible for your CMA certification. This experience needs to have occurred no more than seven years prior to applying for the certification. Internships are not sufficient to fulfill the requirement of professional experience. The IMA provides a list of qualifying professional experiences on its website. 3. Join the Institute of Management Accountants (IMA). Eligibility for the CMA certification also includes joining as a member of the IMA, which is the organization that certifies management accountants. Membership is a requirement and must occur prior to enrolling in the CMA program. There are membership fees you will pay. 4. Enroll in the CMA program. Enrolling in the CMA program involves paying a program fee separate from the membership and exam fees. The price is $300 for professional members of the IMA and $225 for student or academic members []. You enroll online via the IMA website. Be prepared to have documentation of educational and professional experience ready to submit. As part of your program, be prepared to spend time studying for the exam. Enrolling in the CMA program means you have access to members-only study guides and resources that can help you prepare for the exam. You have three years to complete the program. 5. Complete both parts of the exam. Once enrolled in the CMA program, you’re ready to sign up to take the exam. You can find exam dates on the IMA website. The exam is only offered during certain times of the year. Once you select a date, pay the exam fee and register to take the exam at a testing site or remotely.The exam has two parts. Part One will cover financial planning, performance, and analytics, while Part Two will cover strategic financial management. Each section includes 100 multiple-choice questions and two essay questions. Scores are tallied between the multiple-choice and essay portions of the exam. Test results are usually emailed out six weeks from your test date. You can take exams online or at a test site. 6. Maintain the certification. To maintain your certification once you have earned it, it’s essential that you complete 30 hours of continuing education annually. Two of those hours are required to be in ethics. Criteria for continuing education include a range of options from self-study programs, online courses, courses at colleges, or programs given by trade associations. , IMA’s professional certification programs, the FMAA™ (Financial and Managerial Accounting Associate), CMA® (Certified Management Accountant), and CSCA® (Certified in Strategy and Competitive Analysis) help you grow your expertise and advance your career in the accounting and finance profession., The certified management accountant (CMA) certification signals advanced abilities in financial accounting, enterprise finance, and strategic planning. Professionals with CMA credentials typically occupy senior or management-level roles in corporate accounting or finance departments..
Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning , analysis, control, decision support, and professional ethics., The 2023 IMA Global Salary Survey Report found that a certified management accountant’s salary in the US is 24 percent higher median total compensation than a non-certified management accountant . Career advancement Career advancement and increased career opportunities are among the top reasons people earn the CMA certification., A Certified Management Accountant is a professional designation earned by those who wish to demonstrate their expertise in management accounting. To obtain a CMA certification, you must undergo a rigorous process that includes a series of exams and a practical experience requirement., A Certified Management Accountant (CMA) is a professional designation awarded by the Institute of Management Accountants (IMA). To earn it, CMA candidates have to demonstrate competency in financial planning, business strategy, decision making, and various other fields., Certified management accountants (CMAs) and other accountants are expected to be in growing demand over the coming years. Between 2019 and 2029, the hiring of accountants is projected to grow by 4%., A Certified Management Accountant (CMA) is a globally recognized professional credential awarded by the Institute of Management Accountants (IMA). Having this credential signifies advanced expertise in financial planning, analysis, control, decision support, and professional ethics—skills that are essential for strategic roles in today’s .