The CMA® (Certified Management Accountant) designation was developed in 1972 to provide an objective measure of an individual’s knowledge and competence in the field of management accounting, The certification has been the global benchmark for management accountants and financial professionals. Only the CMA program recognizes the unique proficiencies required for success in this challenging profession. The ICMA® (Institute of Certified Management Accountants) regularly reviews the content of the CMA exam to ensure that current topics are appropriately updated and relevant to business practice. Connectivity of a practical Body of Knowledge to the workplace is important.
The CMA exam aligns with the knowledge, skills, and abilities that an accountant or finance professional in business uses on the job today—financial planning, analytics, control, and decision support. These skills are critical to the success of finance teams.
Discover how strategic planning determines the path an organization, and understand budgeting and forecasting techniques.
Demonstrate performance management measures and cost management concepts and systems.
Conduct and compute financial statements analysis efficiently.
Analyze decisions and recommend strategies and actions based on the analysis.
Identify the process of investment decision making and factors affecting it.
A. External Financial Reporting Decisions
1. Financial statements
2. Recognition, measurement, valuation, and disclosure
B. Planning, Budgeting, and Forecasting
1. Strategic planning
2. Budgeting concepts
3. Forecasting techniques
4. Budgeting methodologies
6. Top-level planning and analysis
C. Performance Management
1. Cost and variance measures
2. Responsibility centers and reporting segments
3. Performance measures
D. Cost Management
1. Measurement concepts
2. Costing systems
3. Overhead costs
4. Supply chain management
5. Business process improvement
E. Internal Controls
1. Governance, risk, and compliance
2. System controls and security measures
F. Technology and Analytics
1. Information systems
2. Data governance
3. Technology-enabled finance transformation
4. Data analytics
Whether you are an experienced accounting professional or a student who is now embarking on their professional journey, the C M A certification will give you a professional edge over others, allowing you to lead the financial growth of sought- after global organizations. It is ideal for accountancy or financial professionals carrying out the following duties: Preparation of financial statements Financial planning & analysis Monthly, quarterly, and year end close Auditing (external or internal) Budget preparation & reporting Manage general ledger and balance sheets Forecasting Company investment decision making Costing analysis Risk evaluation
The pass rate on the CMA differs by geographic region, but averages about 50% on both parts 1 and 2.
No, you can take parts 1 and 2 in any order. You have the option of taking both together on the same day, although many members choose to separate their testing dates.
The minimum passing score is 360 for both parts of the exam. The exam score range is 0-500.
Accounting background is helpful but not required. Usually candidates come from a variety of bachelor degree programs and industries, including (but not limited to) engineering, business administration, economics, and finance.
