Welcome to our blog where we’re excited to dive into the topic of the CMA USA (Certified Management Accountant) course. As the global business landscape continues to evolve and become increasingly complex, the demand for knowledgeable and skilled professionals in the field of management accounting is on the rise.
The CMA USA course, offered by the Institute of Management Accountants (IMA), is a globally recognized certification program that is designed to equip aspiring professionals with the skills and knowledge required to excel in the dynamic world of management accounting. With its comprehensive curriculum that covers financial reporting, planning, performance management, cost management, internal controls, and professional ethics, the CMA USA course is the perfect choice for individuals who wish to pursue a career in the field of management accounting.
Do you know?
According to a recent study, CMA USA-certified professionals are in high demand and earn, on average, 17% more than their non-certified peers. Moreover, the IMA reports that over 60% of Fortune 500 companies prefer to hire CMAs in their finance and accounting departments.
Additionally, the CMA USA course is not only a great investment for your future, but it is also a flexible and accessible program that can be completed at your own pace. Whether you’re a recent graduate or an experienced professional looking to advance your career, the CMA USA course is the perfect fit for individuals who are passionate about finance and accounting. So, what are you waiting for? Start your journey towards a successful and fulfilling career in management accounting today!
What all is covered in this post?
To make it easier for you, we have created a quick guide to everything you need to know about the CMA USA course.
Overview of CMA USA course
Below is the table providing a high-level overview of the key features of the CMA USA course, making it easy for you to quickly understand the course’s purpose, curriculum, earning potential, job demand, and more. Whether you’re a recent graduate or an experienced professional looking to advance your career, the CMA USA course offers a wealth of opportunities and benefits that will help you succeed in the fast-paced and dynamic world of management accounting.
|Course Name||Certified Management Accountant (CMA) USA|
|Offered By||Institute of Management Accountants (IMA)|
|Purpose||To equip professionals with the skills and knowledge required to excel in the field of management accounting|
|Curriculum||Covers financial reporting, planning, performance management, cost management, internal controls, and professional ethics|
|Earning Potential||CMAs earn, on average, 17% more than their non-certified peers|
|Job Demand||Over 60% of Fortune 500 companies prefer to hire CMAs in their finance and accounting departments|
|Flexibility||Can be completed at your own pace|
|Target Audience||Aspiring professionals who are passionate about finance and accounting|
|Certification||Globally recognized and highly respected|
Eligibility criteria for CMA USA
A 12th-grade certificate and a bachelor’s degree are the two most important requirements of the US CMA for Indian students. The IMA stipulates that after successfully obtaining the CMA USA certificate, students will have another seven years to prepare their documents.
CMA USA’s eligibility can be summarized as follows:
- Membership of the IMA
- To become a Certified Management Accountant in the US, a 12th-grade/high school diploma or a US degree is required.
- Bachelor’s degree in relevant discipline.
- Minimum of 2 years of professional experience in finance, accounting, or management.
CMA USA exam format
The CMA exam consists of two parts, and it is important that you pass both exams in order to earn this certification. You can take the CMA USA Part 1 or Part 2 exam in any order, but you will only be eligible for the next one if you pass the first exam. Exam registration is only valid for one exam window, so you need to register again if you want to appear for the exam again.
The testing window opens each year in January/February, May/June, and September/October. So you can book the seat of your choice and take the exam accordingly.
CMA is a computer-based exam. Each exam will last 4 hours with 100 MCQ questions and two 30-minute essays.
The exam is held in the following windows:
- January – February
- May – June
- September – October
CMA USA syllabus
The CMA USA syllabus is divided into two parts, each consisting of four exams:
Part 1: Financial Planning, Performance, and Analytics
- External Financial Reporting Decisions
- Planning, Budgeting, and Forecasting
- Performance Management
- Cost Management
Part 2: Financial Decision Making
- Corporate Finance
- Decision Analysis
- Risk Management
- Investment Decisions
The CMA USA syllabus covers a wide range of topics in management accounting, including financial reporting, planning, performance management, cost management, corporate finance, decision analysis, risk management, and investment decisions. The curriculum is designed to equip professionals with the knowledge and skills required to excel in the dynamic world of management accounting and to help them gain a competitive edge in the job market.
Career paths after passing the CMA USA exam
The US CMA is a globally recognized qualification and will allow you to find employment in different parts of the world in different industries. Qualified CMAs (US) is the first choice for many Big4s in India. Companies like Capgemini, Accenture, Amazon, etc. are major recruiters of CMA USA professionals.
The CMA USA certification gives employers confidence in a candidate’s financial and management skills, making them the preferred choice for employers worldwide. Some common CMA professional positions include
- Chief Financial Officer
- Cost accountant
- Cost manager
- Credit analyst
- Finance manager
- Financial analyst
- Financial controller
- Financial director
- Financial risk manager
- Risk analyst
Remuneration for CMA USA-certified professionals are high, not only in India; CMAs are highly compensated around the world.
Job opportunities for CMA USA professionals
Certified Management Accountants (CMA) USA professionals have a variety of job opportunities across different industries. Some of the common job roles for CMAs along with the salaries include:
|Financial Analyst||$68,500 per year|
|Financial Manager||$84,000 per year|
|Cost Accountant||$68,000 per year|
|Budget Analyst||$62,000 per year|
|Corporate Financial Planning and Analysis Manager||$90,000 per year|
|Business Development Manager||$83,000 per year|
|Risk Manager||$95,000 per year|
|Internal Audit Manager||$90,000 per year|
|Supply Chain Manager||$100,000 per year|
|Chief Financial Officer (CFO)||$123,000 per year|
CMAs can work in various sectors such as manufacturing, service, healthcare, government, non-profit organizations, etc. The demand for CMAs is increasing globally, and many organizations prefer to hire CMAs for their expertise in financial planning, analysis, control, and decision-making.
Bonus Tip: How to prepare CMA USA exam
To prepare for the CMA USA exam, it is recommended to follow these steps:
- Review the Exam Format: Familiarize yourself with the format and content of the CMA USA exam, including the types of questions you will face, the number of questions in each section, and the time limit.
- Study the Exam Syllabus: Get a clear understanding of what is covered in the CMA USA exam by reviewing the syllabus and studying the topics in detail.
- Create a Study Plan: Plan your study schedule and set achievable goals to ensure you stay on track and make the most of your time.
- Use Study Materials: Use a variety of study materials such as textbooks, online courses, practice exams, and flashcards to help you prepare for the exam.
- Practice Time Management: Practice answering questions within the time limit to develop your time management skills and reduce stress on the day of the exam.
- Participate in Review Classes: Consider enrolling in a review class to learn from experienced instructors and receive additional support and guidance.
- Take Practice Exams: Take practice exams to test your knowledge, identify areas for improvement, and build confidence for the actual exam.
- Get Enough Rest: Make sure you get enough sleep and maintain a healthy lifestyle to reduce stress and improve focus during the exam.
Earn an international degree and the global exposure you need for a successful career. The CMA USA course can help you achieve this. IMA USA offers an advanced CMA USA professional program in finance. CMA USA is a certification that is accepted worldwide. You can fill it with only two papers. Students can take exams after 8 months. CMA USA’s worldwide pass rate is around 45%. Any candidate with a bachelor’s degree in any field can earn a CMA degree in the United States. Students can also take the CMA exam.
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CMA USA Course: FAQs
The Certified Management Accountant (CMA) is a professional certification for management accountants offered by the Institute of Management Accountants (IMA) in the United States. The CMA USA program is designed to provide management accountants with the knowledge and skills required to succeed in the financial management field.
To be eligible to take the CMA USA exam, candidates must have a bachelor’s degree from an accredited institution and at least two years of professional experience in management accounting or financial management.
Each part of the CMA USA exam consists of 100 multiple-choice questions and two 30-minute essay questions.
The time it takes to complete the CMA USA program depends on various factors such as study pace, work experience, and exam preparation. On average, it takes candidates about six to nine months to prepare for each part of the CMA USA exam.
The cost of the CMA USA program varies depending on factors such as the type of study materials used, the review course selected, and the location. On average, the cost of the CMA USA program is around $1,500 to $2,500.
Anushree has 5 years of experience in the career counseling industry as a Senior Content Writer. She has also worked as a Social Media Marketing Expert for a startup and Content Quality Analyst for the Publishing and E-learning Industry. She has done her Master’s in Commerce and PGDM in Finance & Trade and Marketing & HR, but she is currently following her passion for writing.