CMA (US)
CMA certification has been the global benchmark for management accountants and financial professionals, which can give you greater credibility and higher earning potential. The role of a CMA is an important asset in all types of organizations. They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization. CMAs appreciate the business approach for managing customer value, formulating strategies, and valuing equity.
CMAs are value creators and not just accountants who adhere to professional compliance.
- International credibility is achieved with the highest qualification in management accountancy in the US, which enjoys international recognition as a member of IMA.
- A strong knowledge base of management accounting and financial management is essential. Global opportunities in the accounting and financial world could lead to an increase in pay and growth in career prospects.
- An international perspective, coupled with increased confidence and competence, will surely benefit individuals in their professional endeavors.
The Certified Management Accountant (CMA) designation is a highly respected credential awarded by the Institute of Management Accountants (IMA) which is a US-based worldwide association for accountants and financial professionals working in business.
The CMA designation provides an objective measure of an individual’s knowledge and competence in the field of management accounting and financial management.
Globally, CMAs earn 61% more in median total compensation than their non-CMA peers.* The Total cost of the CMA program is approximately$2,500 The CMA program lets you proceed at your own pace, allowing you to earn your CMA in 12 months or over the course of three years.
CMA is the US equivalent of the Indian Cost Accountant qualification from The Institute of Cost Accountants of India (formerly ICWAI). The MOU has been kept on hold. So no mutual membership for now.
BECOME AN IMA MEMBER IN 3 STEPS ------> 1. Register with IMA 2. Pass the Examinations 3. Submit Work experience
1. Eligibility
The CMA program lets you proceed at your own pace. You can earn a CMA in just 9 months or over the course of three years. Busy professionals will find the CMA program to be a time-efficient and cost-effective investment. Criteria to pursue CMA (US):
- Bachelors Degree in any area, from accredited university/colleges.
- Minimum 2 years of professional work experience in Management Accounting or Financial Management.
- Work Experience requirement may be completed before passing the exams or within seven years after passing the examinations.
2. Examinations
CMA program is rigorous and relevant. Exam can be written in the following 3 windows
- January-February
- May- June and
- September – October.
The two-part testing format requires a mastery of the critical skills and knowledge involved in planning, analysis, control and decision support.
3. Membership
To be eligible for CMA certification, you must fulfill all of the following requirements:
- Membership in the Institute of Management Accountants
- Paying the Entrance Fee
- Satisfying the Education Qualification
- Satisfying the Experience Qualification
- Passing scores for all required examination parts
- Compliance with the IMA Statement of Ethical Professional Practice
Course Structure
The CMA exam: 2 parts covering 12 competencies
- 15% – External Financial Reporting Decisions
- 20% – Planning, Budgeting, and Forecasting
- 20% – Performance Management
- 15% – Cost Management
- 15% – Internal Controls
- 15% – Technology and Analytics
- 20% – Financial Statement Analysis
- 20% – Corporate Finance
- 25% – Decision Analysis
- 10% – Risk Management
- 10% – Investment Decisions
- 15% – Professional Ethics
Fee Details
Please be aware that IMA membership dues and CMA® (Certified Management Accountant) and CSCA® (Certified in Strategy and Competitive Analysis) program fees will increase as follows beginning October 1, 2023:
- CMA Entrance Fee (nonrefundable) – $300*
- Exam Fee – $495 per part
- IMA membership – $ 295
- CMA Entrance Fee (nonrefundable) – $225*
- Exam Fee – $370 per part
- IMA Student membership – $ 49
- IMA Academic membership – $ 160
New Fees for Changing or Canceling Exam Dates
Please note the following scheduling and process changes:
ICMA has implemented new policies regarding fees for changing or canceling CMA exam dates. Candidates may request a transfer to the next testing window for a fee of $75 under the following circumstances:
- If you wish to change your exam appointment to the next testing window, you will be charged a fee of $75 by ICMA, and this request must be submitted to IMA Member Services at ima@imanet.org no later than five days before the scheduled appointment. This fee cannot be waived.
- If you have an exam appointment, the exam appointment must be canceled before the transfer request can be processed. If your appointment is not canceled in time, ICMA cannot switch your registration.
- Prometric will charge a $50 fee if you are canceling or rescheduling your exam within 3 to 30 days of the appointment date. This fee cannot be waived.
Candidates also have the option to reschedule their appointment within the same testing window. Prometric will charge a $50 fee to candidates who reschedule/cancel appointments within 3 to 30 days of the scheduled test date. No payment will be due to ICMA for this option.
Remember: If you miss your appointment, or if you cancel your exam within 3 days (72 hours) of your scheduled appointment, you will be considered a “no-show” and you will forfeit your exam fee.
Frequently Asked Questions (FAQs):
- Active membership in IMA
- Active CMA entrance fee
- Satisfy the education qualification
- Satisfy the experience qualification
- Complete all required examination parts
- Comply with the IMA Statement of Ethical Professional Practice
CMA candidates must submit all required educational documents translated in English in a PDF format to CMAEducationdocuments@imanet.org along with your IMA membership number. In the event we require the original, you will be contacted by ICMA directly.
To validate your work experience, download the CMA Experience Requirement Verification Form (PDF) and return the completed form via email to ccurtin@imanet.org or via post to:
ICMA
10 Paragon Drive, Suite 1
Montvale, NJ 07645-1759
Read the latest guide on information and requirements for CMA certification
Who is the scholarship for?
- High-achieving students (undergrad through Ph.D.) who attend an accredited college or university in the U.S. or around the world
- 5 students per school per academic year can be nominated for a CMA scholarship
- All students who are nominated by a professor will earn the scholarship
What’s included?
- Entrance fee to the CMA program
- Exam support package with retired exam questions and a glossary of terms
- Registration fees covering both parts of the exam (additional fees will apply for retakes)
- Approved course provider review material (All regions except China)
- Three years of IMA membership while pursuing the certification
How can I apply?
If you are a student at an accredited college or university, ask your professor to nominate you with this form. If you are not already an IMA member, please follow these instructions to create your IMA member account (only IMA members can be nominated for a CMA Scholarship). Students cannot self-nominate.
When can I apply?
IMA accepts CMA Scholarship nominations each academic year from September 1 – June 30.