A full CMA is a Certified Management Accountant, and if you are considering taking a course to become a CMA, you really are making the right choice. This field is related to management accounting and many people are interested in it because of the opportunities it offers. If you are planning to take a CMA course, you should have all the information you need before enrolling in a course. We have received many requests from students who want to know more about CMA courses, which is why we have written this article. In this article, we have listed all possible information about the CMA course so that you can make the right decision.
Please note that to become a CMA, you must be certified as a CMA. The CMA exam consists of two parts. You cannot become a CMA until you have completed your training. First and second year students may not take this accounting course. Let’s talk about the selection criteria first and then the other details of the course.
Right to CMA certification
In this section, we have listed the detailed selection criteria for the CMA course. Check the following points
- You must have a score of 10+2 and at least 50%.
- You must be a graduate of a recognized university or college in a relevant field.
- You must also have two years’ experience in the relevant field. At the time of enrollment, the experience will be confirmed.
- If you meet these criteria, you can apply for the EPI course, which will enable you to take the exam.
- The CMA exam consists of two parts and both parts must be passed to receive the certificate. We will discuss the rating system in more detail in the following sections of this page.
Examination regulations for CMA certification
In the last section, we mentioned the registration exam. We also mentioned that the CMA exam has two parts and you need to pass both of them. If you want to take the CMA exam, you need to understand how the exam works. In this section you will find information about the model and the program.
Each part of the CMA exam is four hours long, and the program for both parts is presented below. When you register for the EPI, you will receive the appropriate training materials on all topics. Each exam has 100 questions and we have also given the weightage below. You can read the higher curriculum for the CMA exams below.
CMA Exam – part I of the program
Below is the list of topics that make up the CMA Part I exam. All of these topics are related to accounting. For example, the performance management topic below relates to the financial performance of an organization. You will learn how to maintain a company’s balance sheet and profit and loss account.
- Cost management (20%)
- External solutions for financial information(15%)
- Internal control (15%)
- Performance management (20%)
- Planning, budgeting and forecasting techniques (30%)
CMA Exam – Part II of the Program
You have already familiarized yourself with the first part of the CMA exam. You may now proceed to the topics of the second part. Keep in mind that all of these topics are also directly related to accounting, with the exception of professional ethics. As part of your professional ethics, you will be taught a code of conduct and accounting ethics. You will also learn how to stay away from account manipulation. Check out the articles now.
- Corporate finance (20%)
- Decision analysis (20%)
- Analysis of financial statements (25%)
- Investment solutions (15%)
- Professional ethics (10%)
- Risk management (10%)
Registration procedure for CMAs
In this section we have included the registration information for the CMA. We have also listed the fee structure below
- If you meet the eligibility criteria, you can register on the EPI website. You must pay a membership fee to join EPI, and you can pay the same fee. Students have to pay much less than professionals.
- You can register for the exam by registering on the IMA portal. You must pay a fee and it is valid for three years. During this period you will be responsible for planning, executing and approving tests. You only get one chance to take the exam. If you do not pass the exam, you must refund the cost of the exam.
- Some students take remedial courses to prepare for the exam. By signing up for coaching, you will benefit from an adequate orientation. You can check out a number of institutes and plan your studies.
- Once you have prepared the exam, you can schedule the exam by choosing a date on the same website. After you have passed both exams, you will receive the title of sworn accountant. You must remember to pay the annual fee to maintain your active certification.
Detailed information on reimbursements
In this section we have listed the costs of the course.
- For professionals
- WADA membership – $245
- Admission is $250.
- The exam fee is $415 per game ($830 total).
- That makes a total of $1,325.
- For students
- WADA membership – 39
- Admission is $188.
- The exam fee is $311 per game ($622).
- Total – 849
Examination planand CMACertification
As mentioned earlier, you must pass two exams to obtain your CMA accreditation. The advantage is that you do not have to take the exams on the same day. You can take these exams on different dates depending on your preparation. The key point is that you must pass both exams within three years of your CMA application.
The exams take place in specific months and you must choose a date that is available on the Prometric portal. The months in which you can take the CMA exam are January, February, May, June, September and October. Since Prometric is an accredited examiner, you should search for Prometric centers in your area and choose a niche that is available on their website.
Once the registration fee is paid, the candidate can schedule the exam 72 hours before the exam. Talk about maximum time: You can schedule the exam four weeks in advance. Again, it depends on the availability of the time slot and the date.
Employment opportunities after certification
Every certificate and course you take is ultimately focused on the career opportunities you will have after you become certified. Now, you should also understand that the CMA is considered to be a very reputable certification and passing these two exams will open up many opportunities for you. As mentioned above, one of the main requirements for CMA certification is to have at least 2 years of experience in the relevant field. If you work in the finance and accounting department of an organisation, the CMA will help you develop within the organisation. It will also be useful if you are looking for work outside your organisation.
There is a need for CMAs all over the world, so your horizon is not limited to India. By the end of the course you will have acquired the best accounting, finance and management skills. Here are some of the positions that one can find after getting the CMA certification.
- Chief Financial Officer
- Cost calculator
- Cost Manager
- Financial Analyst
- Financial Controller
- Financial risk manager
- PR manager
All of these designations are very well-known positions, and you would be very proud if you found a job with one of these respective designations. Another benefit of a CMA certificate is that you can apply for jobs within your company and get a higher preference because of the certificate.
Below are some of the employers who are actively seeking CMA certified candidates.
- Water Bushnell.
- Rue de la Reine
- Feedback and Tubro
- Cuddles on the construction site
- Tata Industry
- Relay Industries
- Working group for the future
- Citi Bank
- Standard accredited bank
- Bank of New York Mellon
- Bank of America
- State Highway
Salaries and financial benefits
Job prospects are one of the things you should find out before starting a course. The next important information to understand before taking a course is the financial benefits you will receive after completing the course. Speaking of financial ratios, return on investment needs to be reviewed. Consider the salary as an investment and the raises as a benefit.
It is very difficult to give an accurate figure for salary after obtaining the CMA, as it depends on your company, your position and your level of experience. The salary also increases with each year of experience. For example, a CMA certified candidate with a total of 5 years of experience would earn much more than a CMA certified candidate with a total of 2 years of experience.
We can also give you an idea of the best you can gain over a non-CMA candidate by working on a lead. A survey found that candidates with a CMA degree earned 150 to 200% more for the same position than their peers without a CMA degree. This number applies to the United States, but what if you are in Asia? In India, the figure is between 60 and 90%. Overall, the average percentage you will earn more is almost 60%.
Should you strive for a CMA?
Returning to the main question, should we choose the CMA? If you are confused, let us help you find the answer. According to some industry experts, the CMA is one of the most popular courses for employers seeking accounting and auditing candidates. There is currently a lot of competition in this field, so it is important that you take a course that will allow you to improve your skills. The CMA stroller also gives you an edge over the competition. If you are considering moving to another country, the CMA is very useful because it is a globally recognized certification. We now leave the final answer to you.
This was the CMA certification. We have listed all possible information about the course. You can now choose to follow a CMA course. Once you have the details worked out, you can also plan your finances. The bonus question we have answered for you is whether or not you should pursue a CMA. That’s the end of this page. You can leave a comment if you have other questions about the CMA course.
frequently asked questions
What is the cost of CMA training?
CMA (Cost Management Accounting) Course India : Level…
What is the scope of the CMA training?
In addition, CMAs, by virtue of their expertise and training, may hold managerial positions in public and private companies, such as B. Chief Executive Officers and Managing Directors, Managing Directors, Chief Financial Officers, Financial Controllers, Financial Managers, Cost Controllers, Marketing Managers and Heads of Internal Services …
Is the CMA a good career option?
The CMA designation is an excellent career choice, especially if you want to pursue a career in management accounting. But before you start, it is important to know all the details about the course, admission requirements, exam structure, salary and opportunities.