What is CMA? Brief overview
What is CMA ? Brief overview
In 1972 IMA (Institute of Management Accountants) developed CMA (Certified Management
Accountant) certification based in United states. CMA is considered one of the
top accounting certification now a days. If you want to enhance your knowledge
in field of management accounting and financial management, CMA will prove best
for you. CMA certified can almost work under all types of industries and
organizations. Candidates have to pass exhaustive exam , this is only possible if student is committed
and fulfill the requirements set by IMA
Tasks and Duties of CMA
If you are wondering what does certified CMA do then you are
at right place to resolve all of your queries. This article will provide you every
detail about CMA The main task of CMA is to perform financial analysis and
financial planning, which include forecasting and budgeting, internal control
and reporting within an organization. Depending on company and experience some other
tasks and duties include
1. Preparing financial statements (balance sheet,
income statement, cash flow statements
2. Prepare company budget
3. Supervise accountant
4. Handling tax return
5. Planning and budgeting
6. Internal control
7. Internal audit
Benefits of CMA
As CMA is
recognized globally .This indicates CMA certification has lots of benefits .Few of them are
·
Diverse job
opportunities
·
Growth
opportunities
·
Increase earning
potential
·
Higher rank
position
·
More practical
skills
·
Can hold
different titles
Exam requirement
Main
requirement of CMA is to pass the exam .According to IMA, candidates must pass
exam in 3 years which comes in 2 parts
Below mentioned content of 2 parts
shows the scope of CMA as
well
Part 1:
Financial Planning, Performance, and Analytics
·
External financial reporting (15%)
·
Planning, budgeting, and forecasting (20%)
·
Performance management (20%)
·
Cost management (15%)
·
Internal controls (15%)
·
Technology and Analytics (15%)
You can buy online CMA course ( CMA PART 1)in economical price from here
Part 2:
Strategic Financial Management
·
Financial
statement analysis (20%)
·
Corporate
finance (20%)
·
Decision
analysis (25%)
·
Risk
management (10%)
·
Investment
decisions (10%)
·
Professional
ethics (15%)
CMA part 2 course also available in
economical price
Exam details
Total
time given to examinee is 4 hours
·
3 hours for multiple choice questions
·
1 hour for essays
Part Multiple
choice
Essays
questions questions
1 100 2
(3 hrs) (30 mins each)
2 100 2
(3 hrs) (30 mins each)
To pass CMA exam
candidate have to answer 50% of the MCQ correctly , After that candidate will
be eligible for essay section. Essay section consist of 2 scenario based
questions. For this 8-10 written response or calculation questions
must be answered
CMA
Exam dates 2020
These are the important CMA
exam dates which
candidates should take under consideration before getting ready for exam
1 Jan
– 28 feb
1 may
- 30 june
1 sep
- 31 oct
comes in 42 days from the last day of the month of exam date. According to IMA passing rate globally is 50% , 4,000 CMAs granted each year on average and 70,000 CMAs awarded to date
Exemptions
for Qualified CMA
After
becoming a qualified CMA , you are given exemptions in following courses .
Full
exemption of CIPFA (UK)
50%
exemption of ICMA (PAK)
3
papers of ACCA (UK)
Full
exemption of IPA (Australia)
Full
exemption of ICWAI
Full
exemption of FIA
6
papers of CIMA (UK)
Full
exemption of IFA (UK)
Resource
For
guaranteed success candidates must choose best CMA review course & CMA study materials to pass in first attempt. Furthermore, if
you would like any additional information on the importance of a CMA review
course or a review course recommendation click the links below
Quick links:
https://www.facebook.com/CMA-CIA-CPA-Training-Hub-117587116666556/
https://twitter.com/Oliviajames1199
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