CMA (Certified Management Accountant)

MA® (Institute of Management Accountants) is dedicated to excellence within the management accounting profession. The CMA® (Certified Management Accountant) designation was developed in 1972 to provide an objective measure of an individual’s knowledge and competence in the field of management accounting. Only the CMA program recognizes the unique proficiencies required for success in this challenging profession.

ICMA® (Institute of Certified Management Accountants) regularly reviews the content of the CMA exam to ensure that current topics are appropriately updated and relevant to business practice. Connectivity of a practical Body of Knowledge to the workplace is important. The CMA exam aligns with the knowledge, skills, and abilities that an accountant or finance professional in business uses on the job today—financial planning, analytics, control, and decision support.These skills are critical to the success of finance teams.

The CMA program has been designed to meet the evolving needs of business—today and tomorrow. We look forward to helping you achieve excellence as a professional. Certification will confirm your proficiency in your chosen field and your dedication to personal and
professional growth.


Introduction

The purpose of this handbook is to provide information on the requirements for CMA certification. It also includes an overview of CMA exam content, registration procedures, scheduling exams, and the examination process itself.

Candidates should familiarize themselves with the information in this handbook. As the information in this handbook is subject to change, we urge candidates to consult the online version regularly.

Eligibility Criteria

To be eligible for CMA certification, you must fulfill all of the following requirements:

• Active membership in IMA
• Active CMA entrance fee
• Satisfy the education qualification
• Satisfy the experience qualification
• Complete all required examination parts
• Comply with the IMA Statement of Ethical Professional Practice

CMA Entrance Fee

The CMA entrance fee for the certification program must be paid before taking the examinations. Candidates must complete the CMA program within three years from the date of entry 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.

The CMA entrance fee includes:

• Access to the CMA support package beginning on the date of entry into the CMA program*
• Performance feedback reports
• Review of educational and experience credentials
• Personalized, numbered certificate upon completion of all requirements
• Employer notification of CMA designation by request
• Listing of all CMAs in good standing on the IMA website for employer verification of status
• Final score report upon completion of exams

Experience Qualification

Candidates for the CMA certification must complete two continuous years of professional experience in management accounting and/or financial management. This requirement may be completed prior to or within seven years of passing the examination.

Teaching qualifies as related professional experience when it is full-time and at least 60% of the course load taught is accounting or finance above the introductory level over a two-year period. Professional experience is expected to be gained in full-time employment.

However, continuous part-time positions of 20 hours per week meeting the definition of qualified experience will count toward this requirement at a rate of one year of experience for every two years of part-time employment. Experience will be evaluated on a case-by-case basis.

On a random basis, information provided on the work experience form will be verified by ICMA; you will be notified if your form has been selected for verification.

Qualifying experience consists of positions requiring judgments regularly made employing the principles of management accounting and financial management. Such employment includes, but is not limited to, the following:

• Preparation of financial statements
• Financial planning and analysis
• Monthly, quarterly, and year-end close
• Auditing (external or internal)
• Forensic accounting
• Budget preparation and reporting
• Managing general ledger and balance sheets
• Forecasting
• Company investment decision making
• Corporate financial management
• Cost accounting and analysis
• Risk evaluation
• Management information systems analysis
•  Development and delivery of financial systems
• Implementation and management of financial technologies
• Tax accounting, analysis, and planning
• Reporting to the SEC or other governmental regulators
• Strategic planning and strategic management
• Sustainability reporting
• Teaching management accounting or financial management at the college/university level

Employment requiring the occasional application of management accounting principles such as in computer operations, sales and marketing, manufacturing, engineering, personnel, and general management will not satisfy this requirement.

Internships and trainee, clerical, or nontechnical positions do not provide appropriate experience to fulfill this requirement.