The US Certified Management Accountant (US CMA) is a favored certification among accounting professionals. It is awarded by the Institute of Management Accountants (IMA), a US-based organization, and is recognized worldwide as evidence of expertise in critical financial planning and management areas.
Holding the US CMA certification is a globally recognized standard for Management Accountants. To acquire it, candidates must pass two exams.
Qualifications Required for US CMA
To become a US Certified Management Accountant (US CMA), you need to have a bachelor’s degree, pass both parts of the CMA exam and have two years of work experience. This certification is highly regarded by industry professionals because of its concise syllabus that encompasses business management and finance. It offers a well-rounded education that combines theoretical knowledge with practical case study training. Achieving the CMA Certification means becoming a part of a select community of finance and accounting experts.
The structure of the US CMA exam is clear and easy to follow. With just a few hours of study time each day, a candidate can complete both exams within 12 months.
The exam consists of two parts: Part A and Part B, each focusing on a distinct set of topics.
Part A covers Financial Planning, Performance, and Analytics.
Part B covers Strategic Financial Management.
Possible CMA Career Paths to Pursue After Obtaining a US CMA Certification
With a US CMA certification, one can pursue various CMA career options, such as Business Analyst, Budget Analyst, and Account Analyst.
- Business Analysts are responsible for collecting historical and current company data to develop business plans and enhance the decision-making process. A US CMA certification and management expertise can help build a career in this field.
- Budget Analysts manage the expenses and purchases of an organization, keeping track of the accounting data. With a US CMA certification, one can work as a Budget Analyst globally.
- Account Analysts oversee client accounts, from reviewing financial data to processing transactions. They assist companies in managing their client accounts and must keep up with industry research and market developments to stay updated.
Perks of a US CMA Qualification
Here are some of the benefits of obtaining the US CMA certification:
- Professional Advancement: CMA candidates have better entry-level roles and opportunities for promotion than college graduates without additional credentials. The certification shows your commitment to managing accounts and performing beyond accounting, which makes moving up into management positions easier.
- Improved Salary: US CMA-certified professionals receive higher pay than other applicants because they advance more quickly into management after gaining experience. They also receive higher raises when they switch positions because they are in high demand in the job market.
- Global Opportunities: The US CMA certification is recognized globally, which means that even if you have a great career at home, you must receive the certification to work overseas.
- More Authority and Worth: The CMA certification equips you with a better understanding of business, money, and accounting, which gives you more influence and value as an employee. Candidates with a CMA certification have a higher chance of becoming a CFO.
- Business Lure: The CMA certification seamlessly blends business and accounting, which means that candidates who have obtained the certification can make decisions on behalf of the company or participate in group decisions. They are assigned critical roles within a company because they are business savvy.
- Finance Proficiency: A CMA’s responsibilities are more specialized than a typical accountant’s. Routine management of risk, critical investment decisions, and analysis and planning of budgets will help grow your professional abilities. The CMA certification helps you progress professionally by enabling you to take on more managerial-level duties.
The main advantage of pursuing a career in management accounting is the ample opportunities for personal and professional growth. Even if you start in an entry-level position at a reputable organization with a US CMA certification, your skills and potential are likely to be recognized and rewarded through regular performance evaluations and promotions.