What is CMA Certification and Who Is It For?
The CMA (Certified Management Accountant) credential sets you apart from your peers - it indicates you are something more than just a number-counter. You understand the “business” behind the numbers – the decisions and strategies that truly impact a company’s success. There are more than 100,000 CMA-certified professionals across the globe, seeing faster career growth and higher salaries than their non-credentialed peers. But, what is CMA certification, and is it necessary when working as a management accountant? This article outlines how to get a CMA certification as well as its benefits.
What is a Management Accountant?
As business leaders, Management Accountants make informed business decisions and help set strategic direction using their expertise in accounting and finance. Within an organization, Management Accountants are frequently found as financial analysts, controllers, or accountant managers. They are relied upon for more than just balance sheets and accurate numbers; they’re trusted to help make business better.
What is CMA Certification?
CMA certification is a professional credential offered by the Institute of Management Accountants (IMA) that verifies a person’s knowledge in management accounting, corporate finance, and business management including strategic planning. Since 1972, CMA certification has been the global standard for validating knowledge and competence in the accounting field.
Why Become a CMA?
In the simplest terms, CMA certification drives your career. Being a CMA gives you more freedom when developing your career path. According to the Institute of Management Accountants (IMA), 83% of CMA’s surveyed said certification boosted their professional confidence, and 69% said it accelerated their professional growth. Additionally, CMA’s said their certification delivered salaries an average of 21% higher than their peers without a CMA. If want to set yourself apart in your profession, CMA delivers.
Who Is the CMA Certification For?
Regardless of where you are in your career, CMA certification helps set you apart.
What are CMA Eligibility Requirements?
Before becoming a CMA, an individual must meet certain requirements. This includes:
- A Bachelor’s degree (in any subject) from an accredited college or university
- Two continuous years of work experience in management accounting or financial management
- Active IMA membership as a member in good standing
- Passing Parts 1 and 2 of the CMA exam within three years of entering the CMA program
What is CMA Exam Format?
Each Part of the CMA exam contains 100 multiple-choice questions and two essay questions, with three hours to complete the multiple-choice questions and one hour to complete the essays.
How Much Does Becoming a CMA Cost?
The costs to become a Certified CMA professional vary based on the category of learner you are. Costs are as follows:
Through our relationship with IMA, all HOCK students are able to take advantage of a 30% discount on your IMA Membership Fee and your CMA Entrance Fee – a savings of more than $175.
How Long Should I Study For The CMA Exam?
When investing money in this step of your career, studying is crucial to success. But don’t worry - HOCK materials include more than a thousand pages of textbook pages, 60+ hours of online videos with Brian Hock, 180+ hours of guided instruction and bonus videos, and a test bank with over 4,000 questions, essays, and mock exams.
At HOCK, we know every learner is different, and their pace of study will be different as well. Our guiding principle for study time estimates 218 hours to successfully prepare for IMA’s rigorous testing. Those hours are spent progressing through HOCK’s 126 learning modules, which break the intensive study into more manageable segments.
It is also why we created PassMap, our proprietary Learning Management System that lets you customize your learning experience. Simply put your exam testing date into PassMap, and it will lay out your learning schedule for you (based on the time until your test). It provides a weekly schedule, projects your calendar for the next month, and details the time you should spend in each learning module – it even tracks your practice results and your progress toward being fully ready to take the exams.
How Do I Start Studying For The CMA Exam?
When you are ready to advance your career, HOCK international is here for you. For more than 24 years, we’ve helped candidates across the globe pass the CMA exams, providing complete materials that will prepare you to pass the exams on your first attempt.
The best way to start studying for the CMA exam is to sign up for HOCK’s 7-day free trial. This is an excellent opportunity to see how you like the HOCK materials and if CMA is the right certification for you. Read the textbook, answer MCQs, and get the most out of your free trial! The trial includes access to all HOCK CMA Part 1 and Part 2 materials.
