Yes, any student can do US CMA after clearing their 12th class exams, and while doing graduation as well. It is just a 6 to 8 months professional certification which is also globally recognized.
Once the student clears the CMA exams, they get an email confirming they have cleared both the papers, this email can be used to get a job. Once they get 2 years of experience, they can show that to IMA, and apply for the certificate.
ICWAI takes 3 years to be completed and the student has to write about 20 test papers. The US CMA has just 2 exam papers and can be completed within 1 year. Since US companies are everywhere, the scope of jobs is evergreen in this sphere.
Regular students going to college can apply for scholarships to IMA, requesting them to waive the paper fees for both the CMA exams. This request needs to go via the college through email to IMA. If the student gets a scholarship, he will pay only the IMA entrance fee and membership fee, the papers fees will be waived.
No negative marking
CMA (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals. The CMA is an advanced professional certification specifically designed to measure the critical accounting and financial management skills. This is especially relevant for success in a business environment.
The Institute of Cost and Works Accountants of India (ICWAI) has entered into a Memorandum of Understanding (MoU) with the Institute of Management Accountants (IMA), USA to enable mutual recognition and cooperation between the two institutes to develop the profession of Management Accountancy for the benefit of their members and students in the pursuit of excellence in education and training and continuing professional development in Management Accountancy. b. The MoU will enable recognition of the professional qualification of the respective Institutes. A member of ICWAI can get enrolled as a member of IMA USA and vice versa.
There are some general requirements that one needs to follow in order to be eligible for the CMA certification.
The CMA exam is available during the following schedule:
To have your choice of date, time and location it is best that you schedule your appointment at least four weeks in advance. Once you are registered, you must take the exam part during your assigned testing session and in case for whatever reason you are unable to give your exam within that particular period, you will have to pay another registration fees as appointments can not be rescheduled.
With three testing windows every year you can sit for the exam at any time or place that is feasible for you. The CMA exam is basically a computer-based exam and is administered at hundreds of Prometric testing centres all over the world.
No, you can actually take these parts in any order. Most of the candidates choose to take the exam parts on separate days although you can even take both the parts together on the same day.
The minimum passing score for the CMA (Certified Management Accountant) Examination is 360 for both parts of the exam. The exam score range is 0-500.
The fees for the CMA certification includes credential review for educational and experience qualification, 6 months access to the CMA Exam Support package, final score report, & performance feedback reports for those who do not pass.
For Professional Members:
For Student/Academic Members:
No, it is not mandatory for you to hold an accounting background to pass the CMA exams, but yes it can be challenging while getting yourself acquainted with the finance and accounting terminologies if you do not have an accounting background. Depends on you.
Yes, students can write US CMA exams in India and abroad as well.
Many US-based companies are hiring for US CMA roles too. The course deals with all aspects of financial strategy, budgeting, cost management, etc. The only thing missing would be taxation, so anyone who is not much into core accounting or tax can opt for US CMA.
Once the student clears the first paper, he gets 3 years to complete the last paper.
a. Academics – 2 Exam Papers & one Level only.
b. Duration – Shorter duration course, Indian certifications where pass percentage is less than 10%, in the case of US CMA pass percentage is about 50 % globally & will be 70% with the support by Simandhar Education.
Institute of Management Accountants is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. IMA offers its members exclusive access to the CMA program. We are committed to helping you to expand your professional skills, better manage your organization, and enhance your career.
There are two parts to the exam. Each part is 3 hours long for 100 multiple choice questions, representing 75% of the exam score. The second section is essay writing representing the remaining 25%. You will be given 30 minutes for each of the two essays. The total testing duration is 4 hours. b. You must pass at least 50% of the first (i.e. multiple choice) section in order to advance to the essay questions. You can use any time remaining from the multiple-choice questions towards the essay portion. c. The exam is held with three examination windows in a year namely Jan & Feb/May & June/ Sept & Oct. d. What are the total marks & the minimum marks to pass? - The total marks per paper is 500, and minimum passing is 362 marks and minimum 75%.
Each CMA exam part consists of 100 multiple choice questions and has two 30-minute essay questions. You will first have 3 hours to complete the multiple-choice section and one hour to complete the essays. The essays will be shown to you after you have completed the multiple-choice section of the exam or after 3 hours, whichever comes first.
Once you complete and exit the multiple-choice section of the exam, you cannot go back. The essay section consists of 8-10 written response or calculation questions based on two scenarios, describing a typical business situation. You must answer at least 50% of the multiple-choice questions correctly to be eligible to take the essay section.
You can actually sit for as many testing windows do you need in your three-year period but an exam part can be taken only once in a window. All retakes require a new exam registration (not CMA entrance), along with payment of appropriate fees: $415 for professionals, $311 for Students/Academic members
Exams are administered through the worldwide network of Prometric Testing Centers and are available in accordance with local customs. There are many locations in India and throughout the U.S. and internationally. To locate a Testing Center and schedule exam appointments, visit https://www.prometric.com/test-takers/search/icma
Part 1 of the US CMA certification mainly covers Financial Planning, Performance, and Analytics.
The topics covered in CMA Part 1 are given below:
Part 2 of the US CMA certification mainly covers Strategic Financial Management.
The following six topics covered in CMA Part 2:
Simandhar Education has Live Interactive classes which one can access from anywhere in the world and Simandhar also provides the facility to access recorded videos for students who seek to revisit the material taught.