Obtain a bachelor's degree in accounting, finance or economics. The Institute of Management Accountants (IMA) dictates the requirements for CMAs. The website is.

• Certified Management Accountant (cma) Designation

University of Findlay MBA students can take supportive courses online to prepare for the certified management accountant (CMA) exam. Pathway Program; Certified Management Accountant (CMA) Nursing. If you are an accounting or finance professional and.

Make sure your program of study includes an emphasis on business studies, such business law, management, marketing and taxation. A Certified Public Accountant (CPA) is a similar designation to the CMA.

The CPA credential is focused on accounting and auditing professionals. A CMA professional focuses more on management decision-making and analysis.

If you are unsure whether you want to become a CMA or a CPA, check on the course requirements for both credentials. You may be able to schedule your coursework to meet both sets of requirements. Accounting or finance internships give you real world experience and help you to network for full-time positions. Consider applying for internships while you are in school. Working at an internship will help you decide which career path is the right one for you. Get your necessary work experience. The CMA designation requires 2 years of continuous work experience.

Your work needs to be in a CMA-related field. These jobs include accounting, auditing, financial analysis or budgeting. You can complete this 2-year work experience after you take the exam as well. Once you are a CMA candidate, you have 7 years to submit proof of your financial management experience. Part-time positions can also count toward the 2-year work requirement. If you work 20 hours a week or more, you can be considered as part-time.

Note, however, that it takes four years of part-time work to meet the 2-year requirement. When you’re applying for jobs, check with both your employer and the IMA. They can verify if your position meets the requirements for the CMA. Apply for membership in the Institute of Management Accountants. The annual membership cost will vary, based on your status as a student or as an employee working in the field. Membership in this professional organization gives you access to exam preparation, employment boards and continuing education courses.

Once you apply and pay the membership fee, you will be eligible to take the CMA exams within the next 3 years. Send the IMA your college transcripts. Download and complete an experience verification form.

These are available on the IMA website. You will be required to list all of your management accounting work experience. Go over the structure of the CMA exam parts. The CMA requires you to pass two exam parts. Each part has a multiple-choice section and an essay portion. Consider taking a CMA exam prep course through your university or the Institute of Management Accountants. The IMA recommends that you dedicate at least 2 months of study to this exam.

You can choose which part of the exam that you take first. Each part consists of 100 multiple-choice questions and two essay questions. Part one covers financial reporting, planning, budget topics and cash management topics. Part two tests your knowledge of financial statements analysis, risk management and investment decisions.

Complete the registration to take your CMA exam. You should review the CMA Handbook to verify that you meet all of the requirements. The handbook is on the website.

You will need to take at least one part within the first year of purchasing the CMA exam. Access the CMA Resource Guide on the website. The guide lists all of the specific content areas on the exam. Knowing those areas will help you study for the exam. You must pass both exam parts within 3 years of starting the program.

Each part gives you 3 hours for the multiple-choice questions and 1 hour each for the essay questions. You must score at least 50% on the multiple-choice portion to continue and take the essay questions. Both exams will include sections on professional ethics.

Review you exam results. The multiple-choice section of each part can be graded quickly. The essay portion, however, takes longer to grade. Exam reviewers who work or teach in the field manually grade your essay questions. If you fail a portion of the exam, you will be emailed a performance report. That report ranks your performance as satisfactory, marginal or not satisfactory. You’ll get a ranking for each topic on a particular exam part.

Use the performance report to study for the exam and take it again. Once you have passed your exams and meet all eligibility requirements you will receive your certification. You will need to complete 30 hours of continuing education credits annually in order to maintain your certification.

The Value of the CMA CMAs earn 28% more in the U.S. Than noncertified professionals.

In fact, a 22-year-old CMA could enjoy more than $500,000 in additional lifetime earnings. More importantly, the certification is a pathway to a more successful business career: one that opens doors, builds confidence, closes skills gaps, and lets you tap into a network of 100,000 professionals around the globe. As our CMAs will tell you, it's an investment that pays a lifetime of dividends and lets you rise above the competition.IMA US Salary Survey, March 2017. Show Me the Money The results are in: IMA's Global Salary Survey and third-party studies confirm that CMAs get a career and earnings premium.

Certified Management Accountant (cma) Designation

1 In the U.S., median total compensation is 28% higher for CMAs over noncertified peers. Globally, it's 50% higher. 2 CMAs of all ages earn more than non-CMAs. Those aged 30-39 receive a median salary 45% higher than their non-certified peers in the U.S. 3 A 22 year-old who is not certified would need to work 10 years more to get the same lifetime earnings as a CMA.