Certified Management Accountant (CMA)

• 

  Certified Management Accountant (CMA)
  The CMA is a prestigious global certificate awarded by IMA to professionals who demonstrated mastery in financial planning, analysis, control, decision support and strong professional ethics. The certification dates back in 1972, when IMA (formerly known as National Association of Cost Accountants (NACA)), began to provide professional recognition to management accountants that would be comparable to the designation of a Certified Public Accountant (CPA). Having CMA certified professionals is a great help in the business industry as they can improve the efficiency of operation and management and the financial situation of a company.
  
  

  Institute of Management Accountants (IMA)
  The IMA is the premier body that awards the certification in management accountancy. This professional body is located in New Jersey and boasts of about 60,000 members all across the world. Its main agenda is to further advance the role of the management accountants in the business world. The body provides the candidate with the necessary qualification, and thus arms the candidate with the sufficient knowledge as well as skills that can be used in the real life business scenario.
  
  

  CMA Objectives:

  • • To establish management accounting as a recognized profession by identifying the role of the
    management accountant and financial manager, the underlying body of knowledge, and course of
    study by which such know-ledge is acquired.
  • • To encourage higher educational standards in the management accounting field.
  • • To establish an objective measure of an individual's knowledge and competence in the field of
    management accounting.
  • • To encourage continued professional development by management accountants.

   
  
  Eligibility Criteria
  To be eligible for CMA certification, you must comply with the following requirements;

  • • Be a member of IMA
  • • Pay the Entrance Fee
  • • Satisfy the Education Qualification
  • • Satisfy the Experience Qualification
  • • Register for the exam and pass all the examination parts

   
  
  Testing Windows

  • • January & February
  • • May & June
  • • September & October     

  Exam Fees                                                                               
  Amount (US$)
  IMA Membership: 195
  Entrance Fee: 200
  Part 1: 350
  Part 2:350
   
  
  Benefits of the CMA Certificate
  Professionals who successfully pass the CMA examination and earn the prestigious certificate enjoys the following benefits:

  • • Salary  - A Findings of IMA’s 20th Annual Salary Survey indicate that professionals holding the CMA designation and certification have greater earning power – 24% higher in salary and 31% higher in total compensation – than their noncertified colleagues.
  • • Competitive Advantage - Businesses around the world rely on CMAs for financial and information management, as well as for the strategic planning and business solutions.
  • • Personal Satisfaction - Prove your ability to become a strategic business partner, while you also enhance your self-confidence, your sense of accomplishment, and your resume.
  • • Professional Recognition - The CMA designation indicates a commitment to excellence based on a strong, ethical foundation and dedication to lifelong learning. In addition, the program objectively tests and validates expertise in areas essential to analyzing, managing and evaluating business solutions that contribute to the success of an organization.

  Examination Parts
  The CMA exam is specifically designed to measure the advanced skills required to be an effective member of finance and accounting teams within organizations and to create value in today’s complex and challenging business environment.
  
  

  CMA Course Content
  
  Part 1 - Financial Planning, Performance and Control
  
  A. Planning, Budgeting and Forecasting

  • • Budgeting concepts
  • • Forecasting techniques
  • • Budgeting methodologies
  • • Annual profit plan and supporting schedules
  • • Top-level planning and analysis

  B. Performance Management

  • • Cost and variance measures
  • • Responsibility centers and reporting segments
  • • Performance measures

  C.  Cost Management

  • • Measurement concepts
  • • Costing systems
  • • Overhead costs
  • • Operational Efficiency
  • • Business process performance

  D. Internal Controls

  • • Risk assessment, controls, and risk management
  • • Internal auditing
  • • Systems controls and security measures

  E. Professional Ethics  

  • • Ethical considerations for management accounting and financial management professionals

   
  
  Part 2- Financial Decision Making
  
  A.  Financial Statement Analysis

  • • Basic Financial Statement Analysis
  • • Financial Performance Metrics – Financial Ratios
  • • Profitability analysis
  • • Analytical Issues in Financial Accounting

  B. Corporate Finance

  • • Risk and return
  • • Managing financial risk
  • • Financial instruments
  • • Cost of capital
  • • Managing current assets
  • • Raising capital
  • • Corporate restructuring
  • • International finance

  C. Decision Analysis and Risk Management

  • • Cost/volume/profit analysis
  • • Marginal analysis
  • • Pricing
  • • Risk assessment

  D. Investment Decisions

  • • Capital budgeting process
  • • Discounted cash flow analysis
  • • Payback and discounted payback
  • • Ranking investment projects
  • • Risk analysis in capital investment
  • • Valuation

  E. Professional Ethics  

  • • Ethical considerations for the organization.

  Exam Format
  
  

  Part	No. of Hours	Format	Section	Weight & Coverage Level
  I – Financial Planning, Performance and Control	4	100 Multiple Choice Question (MCQ) and 2 essay questions	Planning, Budgeting and Forecasting	30% - Levels A, B, and C
  			Performance Management	25% - Levels A, B, and C
  			Cost Management	25% - Levels A, B, and C
  			Internal Controls	25% - Levels A, B, and C
  			Professional Ethics	5% - Levels A, B, and C
  II – Financial Decision Making	4	100 Multiple Choice Question (MCQ) and 2 essay questions	Financial Statement Analysis	25% - Levels A, B, and C
  			Corporate Finance	25% - Levels A, B, and C
  			Decision Analysis and Risk Management	25% - Levels A, B, and C
  			Investment Decisions	20% - Levels A, B, and C
  			Professional Ethics	5% - Levels A, B, and C

  
  
  
  

  
  
  
  Certified Management Accountant-CMA 
  
  CMA is an American Certification awarded by the Institute of Management Accountants (IMA) U.S. IMA has Mutual recognition agreement with ICWA of India for 100% Exam Exemptions & with CGA Canada advanced entry level for CGA program. 
  
  Who can do CMA? 
  Anyone who has completed a Bachelor’s degree from an accredited college or university or pursuing his/her degree is eligible to sit for the CMA Exam. What is the course structure? The new CMA exam consists of two parts:
  Part I           Financial Planning, Performance and Control
  Part II          Financial Decision Making
  
  CMA Course Outline:

  CMA Part I	CMA Part II
  Planning, Budgeting and Forecasting (30%)	Financial Statement Analysis (25%)
  Performance Management (25%)	Corporate Finance (25%)
  Cost Management (25%)	Decision Analysis and Risk Management (25%)
  Internal Controls (15%)	Investment Decisions (20%)
  Professional Ethics (5%)	Professional Ethics (5%)

  What is the CMA exam format?

  Part I	Part II
  100 Multiple Choice Questions and two 30 minute Essay Questions	100 Multiple Choice Questions and two 30 minute Essay Questions

  Passing Criterion is 70% for each Part of CMA.
  What is the CMA exam duration?
  Part I Financial Planning, Performance and Control   4 hours
  Part II Financial Decision Making                                   4 hours 
  What are the CMA exam dates?
  Exams are offered in January and February, May and June, September and October.

  
  

  Where CMA exams are administered?
  Exams are administered through the worldwide network of Prometric Testing Centers. To locate a Testing Center and to schedule exam appointments, visitwww.prometric.com . For UAE students, the exam centers are in Dubai and Abu Dhabi.
  What is the CMA exam fee?
  One time registration fee is $ 410 Break up is International Membership Fee $195, Entrance Fee $200, Registration Fee $ 15. Exam fee will be $350 per part.
  What are the CMA Study Options at PMTC? 
  There are 5 study options at PMTC.

  
  
  

  1. CMA Comprehensive Program Live lectures at our campus on weekend and weekdays. These are standard classes in a traditional way, where you interact with your peers and instructor. If you want to learn in a competitive environment of around 15 students than Friday or Sunday classes would be recommended.

  
  

  2. CMA One to One Training  We also provide one to one learning opportunity where our highly qualified trainers will solely teach you. You will have the flexibility to “tailor your own schedule and design your own lecture plan”

  
  

  3.CMA Intensive Review(CMA in 10 days) CMA intensive program is exam focused course that focuses on the key concepts, practice questions and exam strategies. It is highly suitable for the corporate clients and equally good for the individuals ready for instant completion of the course. Tentative schedule is as follows;

  
  

  Days	Topics	Days	Topics
  Day 1	Budgeting Concepts & Forecasting Techniques Budget Methodologies & Budget Preparation	Day 2	Cost Management Terminology & Concepts Cost Accumulation Systems
  Day 3	Cost Allocation Techniques Operational Efficiency & Business Process Performance	Day 4	Cost and Variance Measures Responsibility Accounting and Performance Measures
  Day 5	Internal Controls I Internal Controls II & Ethics for Management Accountants	Day 6	Basic Financial Statement Analysis Financial Performance Metrics – Financial Ratios
  Day 7	Profitability Analysis and Analytical Issues Investment Risk and Portfolio Management	Day 8	Financial Instruments and Cost of Capital Managing Current Assets
  Day 9	Raising Capital, Corporate Restructuring, and International Finance Decision Analysis and Risk Management	Day 10	Investment Decision I Investment Decision II & Ethical Consideration

  
  
  

  4. CMA Self-Study Program: Self-study package is designed for those professionals and students who cannot attend the regular on campus classes. We provide them remote assistance through our recorded classroom lectures. This package is efficient and cost effective.

  
  
  

  5. CMA E-Learning: Live lectures are provided online for students who want to prepare at their own convenience using the advance technology of video conferencing. The online teaching facility is interactive based on the latest technology used. E-learning will enhance your learning powers and problem solving skills.

  
  
  

  For updated information about CMA program we strongly recommend you to visit www.imanet.org  How to start CMA? Please contact us

   

•