All You Need To Know About CMA Certification: Part 2

What Is Included in the CMA Program?

Within the management accounting competency framework, the CMA programme enables finance and accounting professionals to master 12 core practice areas, including planning and budgeting, financial reporting, internal controls, technology and analytics, investment decision-making, and performance and risk management.

CMA-certified professionals can find work in a variety of fields, including:

Banking, finance, and insurance
Manufacturing, construction, and mining are all examples of industries.
Communication, transportation, and utility services are only a few of the services available.
Real estate, mining, and education are three of the most profitable industries.
Medical and healthcare services
Government and non-profit organizations

IMA Membership Fees

Candidates must be members of the IMA, or Institute of Management Accountants, in order to be eligible for CMA India. The IMA is the international body that oversees the CMA certification and other qualifications in the accounting field. Candidates must also apply for IMA membership in order to complete CMA registration, and the IMA membership price must be paid in addition to the CMA certification course fees in India in order to sit for the examinations. The cost of membership varies depending on the type of candidate, and an application form must be completed before membership may be granted.

Summary

Time Required

On average, it takes 12-18 months to complete both phases.

Allow up to three years to complete both parts.

Each part should be studied for 150-170 hours.

History

A global pass rate of 50%.

On average, 4,000 CMAs are given per year.

To date, 100,000 CMAs have been given, each one acquired following rigorous testing.

What It Takes

A bachelor’s degree in accounting or professional certification in accounting is required.

Work experience of at least two years is essential.

Parts 1 and 2 of the exam were completed successfully.

Also Read: US CMA Certification In India: All You Need To Know