The Certified Management Accountant course (US CMA) is a certification course in accounting and finance. This short term course is offered by the Institute of Management Accountants (IMA), which is an accounting body in the US. After completing this course, you will be able to work in the field of management accounting with some of the most skilled accounting professionals in the world.
In order to be eligible for the US CMA course, the only credential you need is to clear your class 12 exam. You can start preparing for the CMA exam right after class 12 but you can only gain the CMA certificate after you have completed your graduation.
If you pursue the US CMA course, you will be able to reap the following benefits.
Benefits of having CMA Certification
1. High salary package
With professional courses like US CMA, you will be able to demand a higher salary than a regular commerce graduate student. Since you can start pursuing the US CMA course right after completing class 12, you will be able to earn an internationally recognised qualification before you even finish your graduation. The average starting salary that can be expected after completing US CMA is anywhere between INR 5 to 6 lpa.
2. Business opportunities
The course of CMA is one that teaches you about the business strategies involved in accounting and finance. If you are someone who aspires to pursue a career in management, a US CMA qualification can be a great way to get started. This course will help you learn the necessary entrepreneurial skills and business strategies for your career and will help you get some hands-on experience quite early in your career in customer-focused companies like Accenture, Amazon, Apple and Google.
3. Work Internationally
One of the biggest advantages of pursuing a US CMA is that it is an internationally recognized qualification. If you are planning to go abroad and explore international career opportunities in the future, you can do so with a US CMA Certification. As a US CMA, you will be able to work in India and countries such as the US, Canada, Australia, New Zealand and the UAE.
4. Introduction to Accounting and Finance
If you are unsure of your career and are having a hard time deciding which career to pursue after class 12th. There are only a few course options that allow you to explore different aspects of accounting and finance in a relatively short amount of time. If you are open to pursuing longer courses, you can also think about pursuing other international qualifications such as ACCA, FRM, or CA.
5. Can be completed within a year
The US CMA course is quite short as compared to a lot of the other professional courses that can be pursued after class 12. On average, the US CMA course should take you anywhere between 6 to 9 months to complete. So in under a year, you will be able to complete your US CMA course and be eligible to work as a management accountant.
6. Get exemptions from ACCA papers
A majority of students who complete US CMA opt for an additional course to support their career. Those who are planning to pursue ACCA in addition to US CMA may be eligible to get exemptions from the first 3 papers of ACCA. So pursuing US CMA brings you a few steps closer to becoming an ACCA such that you can complete the course in a shorter amount of time.
CMA Course Structure
A huge advantage of the CMA course, as mentioned earlier, is the course duration. The US CMA course consists of two parts. Each part consists of 6 modules. A detailed structure of the US CMA course and the weightage of each module are described below.
1. EXAM PART 1 – Financial Planning, Performance, and Analytics
- External Financial Reporting Decisions (15%)
- Planning, Budgeting and Forecasting (20%)
- Performance Management (20%)
- Cost Management (15%)
- Internal Controls (15%)
- Technology and Analytics (15%)
2. EXAM PART 2 – Strategic Financial Management
- Financial Statement Analysis (20%)
- Corporate Finance (20%)
- Decision Analysis (25%)
- Risk Management (10%)
- Investment Decisions (10%)
- Professional Ethics (15%)
CMA Course Eligibility
- Students can start studying for CMA after completing their class 12th.
- To be certified as a CMA, you will need a Bachelor’s degree, completion of the CMA papers and 2 years of work experience.
Certified Management Accountant (CMA) is a credential awarded by the Institute for Management Accountants, USA. This global certification is open to all students who have completed their 10+2 or the high school equivalent. If you are interested in pursuing a career in accounting, check out our Certified Management Accountant (CMA) course.
What are the job profiles of a CMA?
After the US CMA, there are several career opportunities that can be explored in profiles like Cost Accounting, Risk Management, Wealth Creation, and Asset Management.
What are the registration fees for US CMA?
The registration fees for US CMA are USD 250. These are to be paid to the Institute of Management Accountants (IMA).
What is the exam window for US CMA?
The US CMA exams can be given in the months of January, February, May, June, September and October.