WHAT IS CMA USA COURSE? COURSE DETAILS, EXAM PATTERN, FEES & SYLLABUS
26 Nov 2022
What is CMA USA Course?
CMA stands for Certified Management Accountant. The CMA Program is offered by IMA (Institute of Management Accounting). The ICMA (Institute of Certified Management Accountants) regularly reviews the content of the CMA exam. Founded in 1919, the Institute of Management Accountant (IMA) is one of the largest and most respected associations focused exclusively on advancing the management accounting profession; having its reach in more than 150 countries with 125000+ members.
Candidates for CMA certification must complete all required examination parts, which are namely:
• Part 1: Financial Planning, Performance, and Analytics
• Part 2: Strategic Financial Management
Total 4 hours = 3 hours of 100 multiple choice questions + 1 hour of essay-type question (2 questions of 30 minutes each). The essays will be presented after you have completed the multiple-choice section of the exam or after three hours, whichever comes first. Once you complete and exit the multiple-choice section of the exam, you cannot go back.
You must answer at least 50% of the multiple-choice questions correctly to be eligible to take the essay section. You will not receive immediate pass/fail results because the essay questions will be graded offline. Exam results will be emailed and posted to your online profile approximately six weeks from the end of the month in which you tested. Candidates are not required to “pass” both sections together. The CMA examination is given in a computer-based format and is offered at Prometric Testing Centres.
To become a certified CMA, candidates must satisfy one of the following education requirements and submit verification of education to ICMA within seven years of completing the CMA examination:
a. Bachelor’s degree from an accredited college or university.
b. Professional certifications (For India - Associate or Fellow, Institute of Cost Accountants of India and Chartered Accountant (CA), Institute of Chartered Accountants of India)
Candidates must complete the CMA Program within three years from the date of entry (registration) into the program. If both exam parts are not successfully completed within three years of entering the certification program, any passed part will expire, and the CMA entrance fee will have to be repaid.
In this globalized era, many companies and organizations require CMAs specializing in value creation and business strategy. Over the years, the significance of CMA has been rising fabulously. It is because of the economic growth in India and large foreign business markets. One of the greatest advantages of having US CMA certification is it will open many prospects for Indian candidates. After completing the US CMA course, one can work as a Finance Manager, Financial Analyst, Financial Controller, Internal Auditor, Relationship Manager, Cost Manager, Chief Financial Officer (CFO), and Cost Accountant.
In Indian MNCs, the US CMAs have good opportunities. Degree holders with US CMA certification are in high demand by the enterprise, education, training, public and private sectors. Leading global companies such as Accenture, Amazon, HPE, Toubro, Larsen, Cyqurex, and Wipro have partnered with IMA to seek talented CMA certification holders for job placements and internships within their companies across India. As per Naukri, there are around 40,000+ job openings in various companies for a US CMA. In India, the average salary of a CMA (USA) is ? 808,216.
If you do plan to do the course, you should definitely go with an approved partner who will ensure not only the right level of support but also the push to the students that is sometimes required in courses like CMA.