The Institute of Management Accountants (IMA) awards the distinctive professional certification of Certified Management Accountants. CMA candidates must demonstrate their ability in financial planning, financial analytics, organizational decision support, and professional ethics to be eligible for this certification. After completing the exam, they will be competent accountant professionals that are suited for rewarding positions and those that require advanced financial management skills. CMA-certified professionals can work in strategic management and corporate financial accounting. CMAs can also specialize in executive and management duties. CMAs are responsible for analyzing budgets and supporting companies to make strategic business decisions.
The IMA regulations are very important for prospective CMA candidates. CMA certification must only be obtained through IMA. You must also meet all CMA requirements. Candidates who wish to take the CMA Certification Course need to be members of IMA. All CMA program participants are eligible to apply for IMA membership. CMA candidates must pass a two-part examination and adhere to IMA’s code of professional ethics.
Training and Education
A bachelor’s degree should be obtained from an accredited college. An independent agency will evaluate any non-accredited degrees.
CMA candidates with bachelor’s degrees in accounting should have their transcripts emailed to IMA. Those with professional certifications can request that the certifying bodies email their official letters directly to IMA.
CMA candidates must have at least two years of experience in financial management or management accounting. A full-time professional experience would be an advantage. Candidates who have worked 20 hours per week in part-time, continuous roles can use their experience to meet the certification management accountant requirements. Part-time experience is counted at one year per two years.
Parts one and two can be attempted by candidates taking the CMA exam in any order. Each part can be found and broken down as follows:
- Part 1: Financial planning, performance, analytics
- External financial reporting decisions (15%)
- Planning, budgeting, and forecasting (20%)
- Performance management (20%)
- Cost management (15%)
- Internal controls (15%)
- Technology and analytics (15%)
- Part 2: Strategic financial management
- Analysis of financial statements (20%)
- Corporate finance (20%)
- Decision analysis (25%)
- Risk management (10%)Investment
- Decisions (10%)
- Professional ethics (15%)
Each exam section takes four hours. It includes 100 multiple-choice and two 30-minute essays. After completing the multiple-choice section, test-takers can’t go back.
The CAM training institute in Dubai gives professionals a clear understanding and allows them to defend the problem source professionally using the established compliance rules. As mentioned earlier, money laundering and financing terrorists are evolving, and the rules and risks change from time to time. CAMS specialists must recertify every three years and continue to earn ACAMS credits.