Requirements to Obtain the CMA Certification:
1. Education:
- Hold a bachelor's degree or higher in any discipline.
- Complete the CMA Entrance Exam, which assesses basic business knowledge.
2. Professional Experience:
- Have a minimum of two continuous years of relevant professional accounting experience. This can include roles such as financial reporting, budgeting, forecasting, internal controls, or financial analysis.
3. Pass the CMA Exams:
- The CMA exam consists of two parts:
- Part 1: Financial Reporting, Planning, Performance, and Control
- Part 2: Financial Decision Making
- Each part is a four-hour exam that covers a range of topics in financial management. Passing both exams is required to earn the CMA certification.
4. Continuing Education (CE):
- CMAs are required to maintain their certification by earning 30 Continuing Education Credits (CECs) every three years. These CECs can be obtained through various courses, seminars, workshops, or self-study programs.
5. Ethical Standards:
- CMAs must adhere to the IMA Statement of Ethical Professional Practice, which includes principles of integrity, objectivity, confidentiality, and competence.
Obtaining the CMA certification demonstrates a commitment to professional development, financial knowledge, and ethical conduct. It is widely recognized and respected in the business and finance industry and can enhance career opportunities for accountants and financial professionals.
Some additional details about the CMA requirements:
- The CMA Entrance Exam is typically waived for candidates who hold certain accounting certifications, such as the CPA, CIA, or a master's degree in accounting.
- The two CMA exams are typically offered three times a year, in January/February, May/June, and September/October.
- The cost to take each CMA exam is $350, and there is an additional one-time certification fee of $250.
- The CMA certification is valid for three years, after which CMAs must renew their certification by earning CECs.