The Institute of Management Accountants (IMA) offers the Certified Management Accountant (CMA), a professional certification in the discipline of management accounting (IMA). An internationally recognised credential that denotes proficiency in financial planning, analysis, control, decision-making, and professional ethics is the CMA certification.
Candidates must fulfil specific education and experience requirements, as well as pass a two-part exam, in order to become a CMA. Risk management, strategic management, internal controls, and financial planning and analysis are among the subjects covered in the test. The IMA’s Code of Ethics must be followed by CMA candidates in addition to passing the test.
Professionals that work in financial planning and analysis, budgeting, forecasting, and other related industries frequently seek CMA certification. It is seen as a worthwhile certification that can enhance career growth and increase the earning of an individual.
CMA is the certification for you if you’re a recent graduate or someone working in finance or accounting who wants to have a very lucrative career! The advanced professional qualification known as Certified Management Accountant (CMA) proves that you possess the vital accounting and financial management abilities required by today’s modern firms, opening up a wide range of employment prospects for you. About 50,000 CMA practitioners globally and a 40-year history make CMA the industry’s preeminent management accounting credential.
CMA Certified Management Accountant Part 1
Last Updated: 2022-06-23
CMA Certified Management Accountant Part 1
Benefits of studying CMA:
There are various advantages to studying for the Certified Management Accountant (CMA) credential, including:
- Increased employment opportunities: The CMA certification is a worldwide recognised certificate that shows proficiency in management accounting, financial planning, analysis, and decision-making. Having a CMA can improve your professional chances and make you more marketable.
- More earning potential: Professionals who hold a CMA certification frequently make more money than those who do not. According to the IMA’s 2020 Salary Study, CMA holders get a total income that is, on average, 63% more than their non-certified counterparts.
- Enhanced employment prospects: The CMA certification may lead to new employment options across a range of businesses and organisations, including accounting firms, financial institutions, and international enterprises.
- Increased knowledge and skills: Studying for the CMA certification will help you get more information and develop your abilities in a variety of fields, including strategic management, financial management, assessment, monitoring, and integrity. This might improve your job performance and make you a more valuable addition to your company.
- Networking possibilities: Via regional chapters, gatherings, and online communities, the IMA provides networking possibilities. This can offer chances to network with other industry experts, gain knowledge from their experiences, and keep up with the latest trends and best practices.
How to become a Certified Management Accountant in India?
- To meet the prerequisites for qualifying you to need a bachelor’s degree from an accredited university and two years of work experience that is pertinent to be qualified for the CMA certification.
- Register for the CMA programme: The Institute of Management Accountants (IMA) website allows you to register for the CMA programme. Depending on where you are, there are different registration fees.
- The CMA test has two sections and covers subjects including financial planning and analysis, strategic management, internal controls, and risk management. Be prepared for the exam. You have two options for studying for the exam, either you may use the IMA’s study guides or enrol in a third-party provider’s review programme.
- Exam scheduling is possible via the Prometric website once you’ve finished your preparation. In India, there are several testing facilities where you may take the exam.
- You must pass both portions of the exam within three years of registering in order to become a CMA. The Code of Ethics of the IMA must also be followed.
- After passing the test, you must fulfil the experience requirement by working in management accounting or financial management for two consecutive years.
- When you have satisfied all the requirements, you can submit an application for certification on the IMA website. You will receive the CMA certification upon the approval of your application.