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CMA (USA)
1. CMA in the USA stands for Certified Management Accountant.
a. CMA is a globally recognized professional certification and it is offered by the IMA (Institute of Management Accountants, USA)
b. CMA provides an expertise and understanding of management accounting to the students
c. More than 1,15,000 international students enrol for CMA course in USA annually.
2. The US CMA course or certification is offered by IMA®
a. It was founded in 1919, having 1,40,000+ members and global reach of 140 countries through 300 professional and student chapters.
b. Brics academy has partnered with Hock International to offer students and professionals the best in class official IMA® study material along with extensive classroom training for the CMA course in India.
3. CMA® (Certified Management Accountant)
certification has been the global standard for management accountants .
– You can now get a CMA professional certification from the USA within 12 – 18 months.
4. CMA Course USA Highlights
certification has been the global standard for management accountants .
– You can now get a CMA professional certification from the USA within 12 – 18 months.
| CMA USA Exam Structure |
Part 1: Financial Planning, Performance, and Analytics Part 2: Strategic Financial Management |
| CMA USA Course Duration | CMA Course must be completed within 3 years from the registration date |
| CMA USA Exam Dates 2024 |
|
| CMA USA Course Fees |
For Professional Members
|
| CMA USA Success Rate | 50% average for Part 1 and Part 2 (however, it varies by geographic region) |
| CMA USA Salary (Total Annual) |
|
5. CMA USA Exam Details
| CMA USA Part | CMA USA Subject | Details |
|---|---|---|
| Part 1 | Financial Planning, Performance, and Analytics | 100 MCQs – 3 hours Two 30-minute Essays – 1 hour |
| Part 2 | Strategic Financial Management | 100 MCQs – 3 hours Two 30-minute Essays – 1 hour |
6. Few more details about the CMA examination:
a. Essays will come after the MCQ section
b. At least 50% of MCQs must be answered correctly to become eligible for the essay section
c. You can take Part 1 and Part 2 in any order. You may also take them on the same day.
d. The exam score range is 0-500 and you must score at least 360 for both parts to pass the exam. Your total score in both sections will determine whether you have passed the CMA exam or not.
e. Six weeks after the end of the month, in which you took the exam, you will receive an email with your exam results and they will also be added to your online profile.
7. CMA Course Eligibility in US
It is essential that you know and meet the CMA course eligibility criteria before taking the exam.
a. You need to register yourself with the IMA.
b. You must have a Bachelor’s degree from an accredited college or university. If you are pursuing your graduation, you are still eligible for the US CMA.
c. Degree verification must be done within 7 years of finishing the CMA examination.
d. In order to earn a CMA certification, candidates must have 2 years of continuous work experience in management accounting and/or financial management field.
8. CMA USA Syllabus
CMA USA exam is divided into two parts.
9. CMA USA Syllabus Part 1:(6 subjects)
1) External Financial Reporting Decisions: Financial statement; Recognition, measurement, valuation, and disclosure – 15%
2) Planning, Budgeting, and Forecasting: Strategic planning; Budgeting concepts; Forecasting techniques; Budgeting methodologies; Annual profit plan and supporting schedules; Top-level planning and analysis – 20%
3) Performance Management: Cost and variance measures; Responsibility centres and reporting segments; Performance measures – 20%
4) Cost Management: Measurement concepts; Costing systems; Overhead costs; Supply chain management; Business process improvement – 15%
5) Internal Controls: Governance, risk, and compliance; System controls and security measures – 15%
6) Technology and Analytics: Information systems; Data governance; Technologyenabled finance transformation; Data analytics- 15%
10.CMA USA Syllabus Part 2(6 subjects)
1) Financial Statement Analysis: Basic financial statement analysis; Financial ratios; Profitability analysis; Special issues – 20%
2) Corporate Finance: Risk and return; Long-term financial management; Raising capital; Working capital management; Corporate restructuring; International finance –20%
3) Decision Analysis: Cost/volume/profit analysis; Marginal analysis; Pricing – 25%
4) Risk Management: Enterprise risk – 10%
5) Investment Decisions: Capital budgeting process; Capital investment analysis methods – 10%
6) Professional Ethics: Business ethics; Ethical considerations for management accounting and financial management professionals; Ethical considerations for the organization – 15%
11.CMA USA Course Fees
CMA USA course fees are different for Professional Members and Students. The following points provide the latest CMA USA course fees:
| Registration details | Student Membership fee(Upto 5th semester - eligible) | Professional Membership fee(Final Year graduation or more – eligible) |
|---|---|---|
| CMA Entrance Registration | $225 | $300 |
| IMA Registration Fee | $147 | $295 |
| Part 1 Exam Fee | $370 | $495 |
| Part 2 Exam Fee | $370 | $495 |
| Total IMA FEE | $1112 | $1585 |
12.How to Apply for CMA in USA?
The application process for the CMA USA exam is straightforward. The steps are
A. Step 1: Make sure to check the eligibility criteria (academic and professional). Make sure to go through the possibility of earning a scholarship.
B. Step 2: Visit the official website of the IMA and join as a member.
C. Step 3: Once you have joined as a member, you need to enrol as a CMA candidate.
D. Step 4: If you are well prepared for the CMA exam, you can register for Part 1 or Part 2 (in any order) by paying the exam fees. Once you receive authorization from ICMA, you will have to schedule your exam at a Prometric testing centre.
Students must note that they can reschedule their USA CMA examination in the same testing window. If you cancel your exam within 30 days of the appointment, you will be charged a fee. If you cancel your appointment within less than 72 hours of the appointment, you will not be given any refund.
13.How to Prepare for CMA USA?
Students can prepare for the US CMA course with the help of standard reading material provide by Wiley CMA , Becker, CMA Exam Academy, GLEIM CMA Review, Hock international etc ( Brics academy had an MOU with Hock international)
14.Career Opportunities After CMA
- Getting a CMA USA certification will definitely add value to your resume and boost your skills and knowledge.
- Successful candidates may enter consulting services, financial services, accounting, financial planning, taxation, and other related fields.
- When it comes to the CMA USA salaries of successful candidates, it was revealed in the IMA 2021 Salary Survey that CMA professionals earn 62% more than non-CMA professionals do.
15.Overall steps to become CMA
a. Foundational knowledge of economics, basic statistics, and financial accounting
b. Pass both CMA exam parts
c. Bachelors degree from an accredited college or university
d. Any major, no course distribution requirements
e. Most CMA candidates hold a degree in accounting or finance
f. May be earned within 7 years of passing CMA exam parts
g. Two years of professional work experience
h. May be fulfilled within 7 years of passing CMA exam parts
i. Have always Active membership in IMA
j. Requirements to maintain CMA certification:
- 30 hours of CPE annually
- CPE must include 2 hours of ethics training
- Maintain active IMA membership
16.Training for the US CMA Exams
a. Now that you know what the US CMA course is all about, the career opportunities it provides and the steps to get your CMA qualification, you must be wondering how should I prepare for the CMA exams.
b. Don’t worry, this is where Brics academy comes into picture. We have over 26 years of experience training students & professionals for Indian and international financial qualifications like CMA (India), CA, CS and ACCA etc.
c. Classroom training by our experienced faculty is supplemented with “official” IMA study material from Hock international. On registering with us you will be getting
17.BRICS Academy CMA Course Package Includes
- 120+ Hours of intensive class room training from experienced professionals spread over Five days a week (Monday to Friday) 20 hrs each week
- Expert guidance on clearing CMA exams
- Registration with IMA & Examinations (2 Parts)
- Best in Class study material from Approved Publishers (hock international) which includes e-Books, online test banks etc.
- Complete guidance and support is provided for all CMA exams and certification related formalities
- Placement assistance for successful candidates
18.What is the full form of CMA
1) CMA stands for Certified Management Accountant.
2) How much does it cost to do CMA
The CMA USA course fees in Indian rupees id approximately Rs. 1,30,000 for students
and approximately Rs. 1,56,000 for Professionals.
3) How much of time does it take to complete CMA
- The CMA course duration usually is short and you can complete it within 10 – 12
months if you are dedicated. - IMA gives you maximum 3 years after registration to clear both parts of US CMA
course. - We have candidates who have completed it within 6 months too.
19.What is the eligibility for CMA
1) Bachelors degree from an accredited college or university
2) Membership of the Institute of Management Accountants (IMA)
3) Two years of professional work experience
4) If they are appearing after 12th, they will get the CMA certificate only after completing their graduate degree.
20.CMA USA advantages
1) Academic advantage of a single level qualification having just two exams which are computer based
2) Lower cost of less than Rs.1.5 Lakhs compared to other international qualifications.
3) International qualification with high global average pass rates of 40%
4) Short duration course that can be completed within 1 – 1.8 years
21.Key career opportunities for CMA
1) Staff accountant and Budget analyst
2) Finance anger
3) Treasurer and Financial analysis
4) CEO and CFO
5) Internal auditor and Cost accountant
Want more information regarding US CMA course and need counselling?
Call us on the following numbers.