US CMA Program<\/a><\/strong>, do get in touch with our expert counsellors at The WallStreet School.\u00a0 Our team will be more than happy to help you.<\/span><\/p>\nUS CMA Exam:<\/b><\/p>\n
The US CMA Exam is a two parts exam.\u00a0 These two parts are:<\/span><\/p>\nPart 1: Financial Reporting, planning, performance analytics, and Control;<\/span><\/p>\nPart 2: Strategic Financial Management;<\/span><\/p>\nThere are a total of 12 competencies (6 competencies per Part) tested in CMA Exam.\u00a0 Each of Part 1 and Part 2 is a 4 hour exam consisting of 100 MCQs (Multiple Choice Questions) and 2 Essay Questions.\u00a0 The time allotted for 100 MCQs is 3 hours and for 2 Essay Questions is 1 hour (30 minutes each).\u00a0 Weightage attached to MCQs is 75% and to Essay Questions is 25%.\u00a0 An Individual needs a total score of 360 out of 500 in each part to clear that part\u2019s exam (irrespective of score in MCQs and Essay Questions).\u00a0\u00a0<\/span><\/p>\nAn Individual can appear for one part at a time (in any order i.e. Part 1 first or Part 2 first as per Individual\u2019s preference) or can appear for both the parts together.<\/span><\/p>\nThe US CMA Exam is conducted at prometric centers all across the world including several centers in India.\u00a0 Exam is conducted during the following 3 testing windows:<\/span><\/p>\n\n- January\/February;<\/span><\/li>\n
- May\/June;<\/span><\/li>\n
- September\/October<\/span><\/li>\n<\/ol>\n
An Individual can prepare for the exams on their own or they can take the tuition support of a trusted partner like The WallStreet School.\u00a0 At the WallStreet School, our endeavor is not only to help candidates both parts exam easily but also teach them the practical application of the syllabus.\u00a0 We, at the WallStreet School, conduct 3 mock exams for each Part exam and once a candidate passes those 3 mock exams then only, we allow him\/her to go ahead and book the CMA exam.<\/span><\/p>\nUS CMA Syllabus:<\/b><\/p>\n
US CMA has two parts – Part 1 and Part 2.\u00a0 Each part has 6 competencies or sections which are tested in the exam.\u00a0 These competencies\/sections along with their weightage and brief content are as follows:<\/span><\/p>\nPart 1: Financial Reporting, planning, performance analytics, and Control – Sections\/Competencies<\/b><\/p>\n
Section A: External Financial Reporting Decisions (15%);<\/b><\/p>\n\n- Financial Statements<\/span><\/li>\n
- Recognition, measurement, valuation, and disclosure<\/span><\/li>\n<\/ul>\n
Section B: Planning, Budgeting and Forecasting (20%);<\/b><\/p>\n\n- Strategic planning<\/span><\/li>\n
- Budgeting concepts<\/span><\/li>\n
- Forecasting techniques<\/span><\/li>\n
- Budget methodologies<\/span><\/li>\n
- Annual profit plan and supporting schedules<\/span><\/li>\n
- Top-level planning and analysis<\/span><\/li>\n<\/ul>\n
Section C: Performance Management (20%);<\/b><\/p>\n\n- Cost and variance measures<\/span><\/li>\n
- Responsibility centers and reporting segments<\/span><\/li>\n
- Performance measures<\/span><\/li>\n<\/ul>\n
Section D: Cost Management (15%);<\/b><\/p>\n\n- Measurement concepts<\/span><\/li>\n
- Costing systems<\/span><\/li>\n
- Overhead costs<\/span><\/li>\n
- Supply chain management<\/span><\/li>\n
- Business process improvement<\/span><\/li>\n<\/ul>\n
Section E: Internal Control (15%);<\/b><\/p>\n\n- Governance, risk, and compliance<\/span><\/li>\n
- System controls and security measures<\/span><\/li>\n<\/ul>\n
Section F: Technology and Analysis (15%)<\/b><\/p>\n\n- \u00a0Information systems<\/span><\/li>\n
- Data governance<\/span><\/li>\n
- Technology-enabled finance transformation<\/span><\/li>\n
- Data analytics<\/span><\/li>\n<\/ul>\n
Part 2: Strategic Financial Management – Sections\/Competencies:<\/b><\/p>\n
Section A: Financial Statement Analysis (20%);<\/b><\/p>\n\n- Basic financial statement analysis<\/span><\/li>\n
- Financial ratios<\/span><\/li>\n
- Profitability analysis<\/span><\/li>\n
- Special issues<\/span><\/li>\n<\/ul>\n
Section B: Corporate Finance (20%);<\/b><\/p>\n\n- Risk and return<\/span><\/li>\n
- Long-term financial management<\/span><\/li>\n
- Raising capital<\/span><\/li>\n
- Working capital management<\/span><\/li>\n
- Corporate restructuring<\/span><\/li>\n
- International finance<\/span><\/li>\n<\/ul>\n
Section C: Decision Analysis (25%)<\/b>;<\/span><\/p>\n\n- Cost\/volume\/profit analysis<\/span><\/li>\n
- Marginal analysis<\/span><\/li>\n
- Pricing<\/span><\/li>\n<\/ul>\n
Section D: Risk Management (10%);<\/b><\/p>\n\n- Enterprise risk<\/span><\/li>\n<\/ul>\n
Section E: Investment Decisions (10%);<\/b><\/p>\n\n- Capital budgeting process<\/span><\/li>\n
- Capital investment analysis methods<\/span><\/li>\n<\/ul>\n
Section F: Professional Ethics (15%);<\/b><\/p>\n\n- Business ethics<\/span><\/li>\n
- Ethical considerations for management accounting and financial management professionals<\/span><\/li>\n
- Ethical considerations for the organization<\/span><\/li>\n<\/ul>\n
US CMA Duration:<\/b><\/p>\n
The average duration for completing both parts of US CMA Exam is around 12 to 18 months.\u00a0 Both parts must be completed within 3 years from the date of enrollment into CMA program.<\/span><\/p>\nTuition support of a learning partner like The WallStreet School really helps candidate to be consistent in studies and practice throughout and clear the exam in first attempt itself.<\/span><\/p>\nUS CMA Scope in India:<\/b><\/p>\n
CMA scope has increased exponentially in India.\u00a0 Due to the global recognition of CMA certification, MNCs usually prefer US CMA Professionals for Management Accounting, Finance and Accounting Profiles.\u00a0 The demand for Management Accounting professionals is increasing across the globe and India being one of the preferred choices of MNCs, this demand is only going to grow from here.\u00a0 An Individual can get an early mover advantage in India by joining the CMA program right now as India is becoming the land of opportunities now.<\/span><\/p>\nWe, at the WallStreet School, believe in the comprehensive solution to a candidate from their enrollment to their placement.\u00a0 The WallStreet School has a network of 200+ Corporates wherein we have already placed more than 4,500 candidates in last 10 years or so. \u00a0 With our placement support along with that provided by IMA US team (in India), our students are able to get better opportunities in India.\u00a0\u00a0\u00a0<\/span><\/p>\nUS CMA Scope across the globe:<\/b><\/p>\n
US CMA is an International Professional Certification accepted in 100 plus countries.\u00a0 Its scope is there in around 170 countries of the world.\u00a0 Plus there is a community of 100,000 plus CMA Certified Professionals in the world who are working across the globe in various positions including but not limited to the positions of CFOs and CEOs of large Multinationals.<\/span><\/p>\nUS CMA Cost:<\/b><\/p>\n
US CMA cost in India depends upon various factors like whether an Individual is a student or a professional; whether an Individual takes tuition support or not.\u00a0<\/span><\/p>\nStudent category is for those candidates who are pursuing full time graduation \/ post graduation.\u00a0 Otherwise, the default category for candidates will be Professional wherein those candidates who are pursuing graduation\/post graduation from distance learning and those who are working (employed\/self employed) will fall.<\/span><\/p>\nIf a candidate falls under a student category then there will be reduced fees applicable to these vis-a-vis professional category candidates.<\/span><\/p>\nA quick comparison of the standard fees for Student and Professional fees payable to IMA US (the body providing the CMA US certification) is as follows:<\/span><\/p>\n\n\n\n| Particulars<\/b><\/td>\n | Student (USD)<\/b><\/td>\n | Professional (USD)<\/b><\/td>\n | Professional (USD)<\/b><\/td>\n<\/tr>\n\n| IMA Membership<\/span><\/td>\n | 135<\/span><\/td>\n | 260<\/span><\/td>\n | Valid for 3 Years for students and for 1 year for Professionals<\/span><\/td>\n<\/tr>\n\n| Application processing fees<\/span><\/td>\n | 15<\/span><\/td>\n | 15<\/span><\/td>\n | One time<\/span><\/td>\n<\/tr>\n\n| CMA Entrance Fees<\/span><\/td>\n | 210<\/span><\/td>\n | 280<\/span><\/td>\n | One time<\/span><\/td>\n<\/tr>\n\n| Exam Fees: Part 1<\/span><\/td>\n | 345<\/span><\/td>\n | 415<\/span><\/td>\n | Valid for one attempt<\/span><\/td>\n<\/tr>\n\n| Exam Fees: Part 2<\/span><\/td>\n | 345<\/span><\/td>\n | 415<\/span><\/td>\n | Valid for one attempt<\/span><\/td>\n<\/tr>\n\n| Total Fees (USD)<\/span><\/td>\n | 1050<\/span><\/td>\n | 1385<\/span><\/td>\n | <\/td>\n<\/tr>\n | \n| Total Fees (INR)<\/span><\/p>\n Conversion Rate<\/span><\/p>\n1$ = Rs. 83<\/span><\/td>\n | Rs. 87150<\/span><\/td>\n | Rs. 114955<\/span><\/td>\n | Conversion rate at the time of response is 1$ = Rs. 82.05.\u00a0 Still, I have taken Rs. 83 to take into account foreign currency transaction charges.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n The above is the standard cost of doing CMA, US.\u00a0 From time to time, IMA US runs some campaigns for the benefits of candidates on its own as well as through its learning partners.\u00a0 Through these discounts, candidates are able to save close to Rs. 30,000 to Rs. 40,000 and therefore, fees of CMA comes down to around Rs. 55000 to 60,000 (approx.) for students and Rs. 85,000 to 90,000 (approx.) for professional category candidates.<\/span><\/p>\nFurther, IMA US awards up to 100% scholarships (subject to certain conditions) also to candidates pursuing full time graduation.\u00a0<\/span><\/p>\nUsually the tuition fees for doing CMA in India ranges from Rs. 70,000 to 100,000.\u00a0\u00a0<\/span><\/p>\nSo, roughly, CMA US costs between Rs. 55000 to Rs. 60,000 without any tuition support and Rs. 1.5 to 2 Lakhs along with tuition support.<\/span><\/p>\nUS CMA Pass Rate:<\/b><\/p>\n Average pass rate of US CMA ranges from 40 to 50%.\u00a0 However, with sincerity and right approach & guidance, we at the WallStreet School believe that an individual has 80% chances of clearing both parts of the exam in the first attempt itself.<\/span><\/p>\nSalary Package of US CMA Candidate in India:<\/b>\u00a0<\/span><\/p>\nAverage Salary Package of a US CMA Candidate depends upon various factors i.e. Qualification, Experience and Skills.\u00a0 For a fresher, the average package is around Rs. 6-7 lakhs and for an experienced candidate (with 3 to 5 years of experience), the average package is around Rs. 10 to 12 lakhs in India. \u00a0 You can take the support of The WallStreet School\u2019s expert placement team for better package and profile.<\/span><\/p>\nFields\/Profiles in which a US CMA can work:<\/b><\/p>\n There are numerous fields\/roles in Management Accounting, Finance and Accounting where a US CMA certified professional can work.\u00a0 These include but are not restricted to following:<\/span><\/p>\n\n\n\n| Management Accounting<\/b><\/td>\n | Financial Management & Treasury<\/b><\/td>\n | Risk Management<\/b><\/td>\n | Accounting<\/b><\/td>\n<\/tr>\n\n| Budgeting \/ Forecasting<\/span><\/td>\n | Project\/Investment Appraisal<\/span><\/td>\n | Risk identification & reporting<\/span><\/td>\n | Financial reporting<\/span><\/td>\n<\/tr>\n\n| Financial Planning & Analysis (FP&A)<\/span><\/td>\n | Working capital management<\/span><\/td>\n | Monitoring risk<\/span><\/td>\n | Fixed assets accounting<\/span><\/td>\n<\/tr>\n\n| Variance Analysis<\/span><\/td>\n | Foreign exchange management<\/span><\/td>\n | Risk Mitigation<\/span><\/td>\n | Accounts Payable\/Receivable<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Who should Pursue US CMA:<\/b><\/p>\n\n- An Undergraduate Student wanting to make career in Management and\/or Finance;<\/span><\/li>\n
- A Graduate wanting to make a career or grow Professionally in the field of Management and\/or Finance;<\/span><\/li>\n
- A Postgraduate (MBA, MCom) who struggle to grow professionally due to a lack of a Professional Qualification;<\/span><\/li>\n
- A CA who want to grow in MNCs and\/or looking for making a career globally;<\/span><\/li>\n
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