The Certified Management Accountant (CMA) certification is overseen by the Institute of Management Accountants (IMA) in the US. Candidates must meet strict education and experience requirements and become a member of the IMA to qualify for the exam. Those with the CMA certification earn significantly more than those without it.
The title of Certified Management Accountant (CMA) is a highly sought-after professional title in the modern business world. In the United States, the Institute of Management Accountants (IMA) is responsible for overseeing the CMA certification and setting guidelines for qualification. Strict guidelines on education and experience must be met before prospective candidates can take the exam to become a CMA. For those pursuing accounting careers, the CMA certification is an important part of the journey. On average, those with certification earn significantly more than those without certification.
To become a CMA, candidates must meet the IMA’s educational standards. A bachelor’s degree from an accredited university in the United States or equivalent education and experience is required to qualify for the CMA certification tests. The IMA also accepts education and experience credits from universities outside the US on a case-by-case basis. For those who do not hold a bachelor’s degree, the IMA may also accept a GMAT or GRE score in the 50th percentile or evidence of certification equivalent to a CMA, CPA, or CFM certification.
The IMA also requires candidates to have a minimum of two consecutive years of experience in the areas of managerial accounting and financial management to qualify for the tests to become a CMA. While the IMA does not set strict guidelines on what experience qualifies a candidate for the CMA exam, this requirement does involve actual hands-on experience in the field. This experience may include working in a position where the potential CMA has been responsible for making financial decisions on a regular basis.
By meeting educational and experience requirements, prospective CMAs must become a member of the IMA to qualify for the test to become a CMA. After submitting annual fees and becoming a member of the IMA, CMA candidates can submit education and experience information to the review board and apply for the opportunity to take the tests. CMA candidates must pay an additional registration fee for each part of the exam before they can test. Upon receipt of fees and verification of information on candidates’ education and experience, the IMA will invite the candidate to participate in the multi-part examinations to become a CMA.
The CMA candidate must complete all exams within a three-year period and register for at least a portion of the exams within the first twelve months of entering the program. Please also note that the required IMA membership is renewed annually as a requirement to keep the CMA certification valid after passing the exam.
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