If you want a respectable and high-standing job role in finance and accounting, why not pursue the CMA (Certified Management Accountant) designation? A CMA certification is a valuable qualification for quick career advancement, and the only way to get there is by taking reputed CMA courses.
These courses will prepare you to tackle financial challenges and make informed decisions with practical knowledge. These courses cover management accounting, preparing you for in-demand job roles.
This guide will give you all the necessary CMA full form course details you need to kickstart your CMA journey.
All About the CMA Certification: In Short
Before discussing the CMA course details, it’s important to have a clear idea of what the certification stands for.
The Certified Management Accountant (CMA) certification is a respected credential for a career in finance and management accounting. CMAs are industry experts in:
- Financial analysis
- Strategic planning
- Budgeting
Two main organisations offer this certification:
- ICMAI (Institute of Cost Accountants of India) in India: Serves professionals mainly in India and India-based companies that fall under Indian regulatory laws.
- IMA (Institute of Management Accountants) in the U.S.: Internationally reputed and recognised for being widely focused on skill-building in globally acknowledged accounting and finance management skills.
CMA Course Details on IMA vs ICMAI
The CMA course offered by IMA is geared towards those seeking to practice abroad, while the ICMAI CMA focuses on building a cost accounting career in India.
Here’s a quick overview of both:
| Aspect | IMA | ICMAI |
| Focus | Financial management, strategic decision-making, global practices | Cost accounting, regulatory practices, Indian standards |
| Recognition | Globally acknowledged, ideal for international job opportunities | Mainly recognized in India |
| Ideal for | Those looking for roles in MNCs or overseas companies | Those focusing on roles in India |
| Career opportunities | Finance roles, management accounting, and executive positions globally | Great career opportunities in Indian cost accounting and regulatory sectors |
| Exam format | Two-part exam: Financial planning, analysis, strategy | Multi-level exams in cost and management accounting |
CMA Course Details On Eligibility Requirements
Candidates must meet the following eligibility criteria to pursue a CMA course:
- Academic prerequisites: You must have a bachelor’s degree from an accredited institution in a field relevant to the IMA CMA.
- Professional experience: You need two years of work experience in financial management or management accounting, which can be gained before or after passing the exams.
- Membership necessities: You need to have an active membership in the Institute of Management Accountants (IMA).
CMA Course Details On What You Will Learn
A CMA course will help you build these valuable skills to handle advanced finance roles:
- Financial reporting and decision-making: This program teaches you the key principles of financial reporting, risk management, and investment analysis, equipping you to make informed financial decisions.
- Finance and performance management: You’ll develop strong skills in corporate finance, valuation, and M&A, as well as essential knowledge of organizational performance, cost allocation, and inventory management—key for senior positions.
- Planning and budgeting: You will learn how to curate budgets and make forecasts and financial plans that will support your company’s targets.
- Ethics and professional standards: You will have a clear idea of the ethical practices in this field; a core component in your skillset as a CMA.
Why Taking Up A CMA Course is A Good Idea
To sum things up, a CMA is a highly respectable designation.
Tasked with strategic decision-making facilitated by the financial skills that can steer a business towards success, job positions are always open in the market. Companies worldwide are constantly on the lookout for experts who have comprehensive knowledge in understanding, managing and leveraging financial information that supports an organisation’s growth.
Hence, taking up a CMA course can always give you a big break in your career. With these CMA course details in your arsenal, browse through the numerous options available and make an informed choice.
FAQs
- Can one pursue a CMA certification while working full-time?
Yes, the IMA CMA has a flexible schedule that will allow you to balance studies and part-time jobs. You are free to take exams at your own pace.
- What is the passing score for CMA exams?
For IMA CMA, the passing score is 360 out of 500 in each section. For ICMAI CMA, the passing percentage is 40% for every paper and 50% overall for every group.
- What is the time limit for finishing both sections of the CMA exams?
It is three years for IMA, and ICMAI CMA has particular timelines for every level. Make sure you check the CMA course details to stay informed about them.
