CMA Preparation in 2024:Why You Should Start in College-CMA Study Guide
Admin 29 Dec, 2023 Individuals holding CMA USA credentials are very important assets for every organization. People having this credential are said to have expertise in Analysis, Financial Planning, Budget Planning, Risk Management, etc. Companies always recruit CMAs for the growth of their business, be it big or small. But becoming a CMA includes CMA preparation and giving the exams.
One thing that the candidates need to know is that the CMA exam is quite tough and is not easily qualified by the candidates. With the right kind of CMA preparation, one can easily excel. The candidates who wish to expand their careers and increase job opportunities must undergo good CMA preparation by taking up the best CMA USA certification course like that of NorthStar Academy.
Before moving any further, let us have a brief knowledge about CMA.
What exactly does it mean to have a CMA certification?
The term CMA stands for Certified Management Accountant. It is an established, reputed, and professional credential that makes the candidates stand out in every field. The CMA USA certification is globally recognized and opens a wide door of job opportunities for the people who pursue it. The Institute of Management Accountants (IMA) is the administrating body of the course.
To become a CMA, it is essential to have a strong base in finance and accounting. And this is possible through CMA preparation. There are a lot of institutes that help in CMA preparation both online and offline. CMA is a challenging exam that tests the candidates knowledge on four parameters, i.e., business analysis, strategic management, decision making, and accounting & reporting.
In the current scenario, the exam has two parts, i.e., Part I and Part II. Both the parts cover different arenas of management and finance accounting. 100 MCQs (3 hours time) and 2 essay questions (30 minutes for each essay question) are provided in both parts of the CMA USA exam. These are the descriptive questions that account for one hour. Thus, students are provided with four hours to complete each exam.
Now, when it comes to the qualification, then candidates must note that 360 marks or more out of 500 marks will make them an accredited CMA. These marks have to be obtained in both the parts of this exam.
Have a look at what is covered in both parts of the CMA Syllabus.
| Paper I of CMA USA | Paper II of CMA USA |
| Financial Reporting | Analysis of the Financial Statements |
| Planning | Investment Decisions |
| Budgeting & Forecasting | Risk Management |
| Cost Management | Decision analysis |
| Internal controls | Professional ethics |
| Technology & Analysis | Corporate finance |
If a candidate has an IMA scholarship, then it becomes very easy to prepare for the exam. IMA scholarship helps a lot in CMA preparation in terms of study material, exam fee exemption, etc.
Now, here arises a question, i.e., when should one start the CMA preparation? Well, there is no time for starting the preparation, but it is advised to start pursuing it alongside your graduation. CMA is a course that gives you a maximum of 3 years to clear the exam, which includes the basics of financing and accounting along with the training experience.
To begin with CMA preparation, you need to fulfil certain conditions. They are:
- Have proven work experience in the field of financial and management accounting. A candidate should have worked in fields like:
- Preparing financial statements
- Auditing
- Forecasting
- Risk Management
- Investment decisions of the company
- Must have a bachelors degree or must pursue the certification side by side.
A certified CMA must fulfill 30 CPE credit hours. But it is good to begin the CMA preparation while you acquire your graduation degree. CMA is a professional designation that provides individuals with lucrative careers in Business Accounting, Financial Accounting, and Management Accounting fields. To undertake the CMA preparation, an individual should start preparing under four parameters, i.e., financial reporting, Strategizing, Management, and Regulatory framework.
It is essential to note that there are three levels of acquiring CMA certification, i.e., foundation, intermediate, and final round. Let us look at the eligibility of the course for all three levels.
Why should you begin CMA preparation in college?
If you are wondering how and when to undertake CMA preparation, then this section is for you. Have a look at why CMA is necessary to be studied beforehand in college.
More career options
Doing CMA preparation along with your bachelors degree will provide you with some amazing career opportunities. If you have CMA certification along with the graduation degree, then you will be recruited to the top companies around the globe. Recruiters always look for individuals with a keen sense of observation along with skills like Business Management, Strategic Management, Cost Management, etc.
Boosts Resume
Candidates who pursue the CMA exam along with the graduation degree have a valuable addition to their resume. A certification course like CMA can boost your resume manifold and provide you with several career opportunities. The candidates having a CMA USA certification course have an edge over others who do not have this certification.
Fresh Content
When one begins the CMA preparation, the content taught remains fresh in the mind. The sooner you start, the better it is. Starting to study beforehand can yield numerous results at the time of the exam.
US Certification
One of the biggest plus points of doing a CMA USA certification during graduation is that the candidates will get a US certification. In this way, you can strategize your studies and plan your CMA preparation accordingly.
Growth Opportunities
CMA USA provides you with numerous growth opportunities. Individuals having this management-level certification along with the graduation degree provide you with more and better career opportunities as compared to students having only a graduation degree. The CMA certification course is a beacon that you dont have to do just accounting. Many opportunities and responsibilities will be opened for you.
Global Opportunities
CMA is a globally recognized course. Therefore, it is essential to undertake CMA preparation from a good institute that not only provides you with knowledge but expertise as well. CMA certification is given due importance if you wish to apply abroad for different jobs. The certification is valued across the globe. Thus, its time one takes up this course.
So, these are the advantages of doing CMA preparation in college. CMA is a professional credential that provides you with knowledge and expertise.
Now, here arises a question, i.e., Which is the best institute for studying CMA alongside college? Well, the answer is NorthStar Academy! We provide you with the comprehensive study material that will help you crack the exam efficiently by employing a CMA US self study of the material and necessary guidance from the mentors. Lets understand in detail.
Which is the top Institute for CMA preparation & Best CMA study material?
NorthStar Academy provides you with one of the best CMA study materials that help you in gaining knowledge and expertise. Time management is one of the main aspects in order to prepare for CMA. A student has to maintain a dissection between college studies and CMA preparation time. Now, heres why we provide the candidates with the best CMA preparation techniques.
Basic Knowledge
Before moving on with the complex concepts, the candidate should be provided with the basic knowledge of accounting and financing. Theres nothing to worry about if you have forgotten your basics. The professors at the institute will provide you with all the basic knowledge that will set a strong base.
Comprehensive Training
A well-organized and comprehensive study material is made available to the students. With over 1500+ MCQs and various assessment exams, the candidates will have better exam preparation. With intricate details, the candidates will have a deep insight into the exam.
Learn Anywhere, Anytime
You get around 150+ hours of recorded lectures, mock tests, interview questions, etc. In one mobile app, you will be able to access the classes and other study material at any time and at any place.
100% Syllabus Coverage
With Northstar Academy, candidates can be assured that the syllabus will be 100% covered. With deep insight into every topic and subject, the candidates will be able to pass the exam easily in one go.
So, these are the reasons why one must choose Northstar Academy. We help individuals complete the CMA course within 6-9 months. Generally, the CMA certification course is for 3 years alongside the graduation degree. But when one takes up the Northstar Academy course, then the candidate will complete the course within 6-9 months.
Eligibility Criteria for the CMA USA course
Here is the eligibility criteria, you must fulfill to acquire the CMA USA certification.
- Bachelors degree in any domain
- Relevant work Experience of 2 years
- Active membership in IMA
- Active CMA entrance fee
- Satisfy the experience qualification
- Comply with the IMA Statement of Ethical Professional Practice
It is essential to undergo CMA preparation because the material to be studied is quite comprehensive and therefore, candidates will need assistance in understanding complex concepts. Before discussing the institute that offers CMA preparation, let us see why it is important to begin preparing for the CMA exam during graduation years.
NorthStar Academy also works in association with ACCA (Association of Chartered Certified Accountants). ACCA is the global body for professional accountants. One of the major advantages of choosing this institute is that it works directly with IMA (Institute of Management Accountants), Gleim, and ACCA.
ACCA has been creating various job opportunities for people for more than 110 years. When you get a certification accredited by global institutes, it boosts your career growth and provides you with various job opportunities. ACCA is a respected brand that marks your expertise in the field of management accounting and financial accounting.
FAQs
1. How do I start preparing for CMA?
The first thing to do in order to start preparing for the exam is to select an academy that can help you reach your goal easily and effectively. Northstar Academy provides you with comprehensive study material, interactive sessions with mentors, etc. Once you select a good institute for studying, the preparation becomes much easier.2. Can I do CMA after the 12th?
Yes, you can do CMA after the 12th. You can also do it along with your graduation degree in order to have more career opportunities in the future.3. Can I self-study CMA?
Yes, you can go for self-study while preparing for CMA. But it will not be as efficient and beneficial as assisted learning. In assisted learning, you can take help from your mentors and professors to clarify your doubts. But that is not the case with self-study!4. Is CMA very difficult?
Yes, CMA is a challenging exam. It tests the individual on various parameters. A candidate needs 45% marks to pass the examination. So yes, CMA is quite a difficult course to study.5. Is the CMA USA syllabus different from the B.Com?
You might be able to see many similarities between the CMA and B.Com syllabus, however, these are actually different. Both are indeed from the finance field but the CMA USA is a bit comprehensive and touches the management sides of the finances also. To make it more clear for the students who have done or are doing B.Com, here is the syllabus of the CMA with percentage Break-up.
Part 1: Financial Planning, Performance, and Analytics
15% - External Financial Reporting Decisions
20% - Planning, Budgeting, and Forecasting
20% - Performance Management
15% - Cost Management
15% - Internal Controls
15% - Technology and Analytics
15% - External Financial Reporting Decisions
20% - Planning, Budgeting, and Forecasting
20% - Performance Management
15% - Cost Management
15% - Internal Controls
15% - Technology and Analytics
CMA Part 2 Syllabus
Part 2: Strategic Financial Management
20% - Financial Statement Analysis
20% - Corporate Finance
25% - Decision Analysis
10% - Risk Management
10% - Investment Decision
15% - Professional Ethics
Part 2: Strategic Financial Management
20% - Financial Statement Analysis
20% - Corporate Finance
25% - Decision Analysis
10% - Risk Management
10% - Investment Decision
15% - Professional Ethics
If you want to excel at these topics, you can always join the CMA USA certification course from NorthStar Academy. We provide the structure and well-organized books for these 12 subjects.
6. How can I get certified as a CMA from IMA?
For getting CMA certified, you need to become a member of the IMA or get enrolled in a good CMA which takes care of your membership and all other course-related aspects. NorthStar Academy, one of the best institutes for CMA USA certification courses, would be the best choice. After that, you need to give your best shot in studying and understanding the concepts of the exam.
You will get a total of 3 years to complete the exam by clearing both the parts of the CMA US exam. Once you make it through the exam by scoring 360 marks out of 500 marks in both parts, you will be accredited with the CMA USA certification from the IMA. It will open loads of opportunities for you in the field of financial management.
Conclusion
CMA USA is a globally recognized certification for which many institutes provide their courses. This professional credential marks the beginning of your bright future! In order to take up the CMA certification course, it is essential that one must select an institute very wisely. NorthStar Academy provides you with the best CMA preparation techniques. The course material provided by the academy helps the candidates in understanding accounting and finance on all levels, thereby helping them clear the exam effectively and efficiently. Their mentors, such as M Irfat sir provide the valuable insights to the CMA certification pursuers and make them market-ready with real time projects.
It is good to start preparing for the CMA exam right in your graduation years. When you start CMA preparation while doing your graduation alongside, it will help you a lot in the future. With insightful understanding, candidates will also get great opportunities ahead.
If you have interest in other courses, check out NSAs other courses as well, including CPA, CA, and ACCA. To know more about our competitive professional courses, contact us.
If you have interest in other courses, check out NSAs other courses as well, including CPA, CA, and ACCA. To know more about our competitive professional courses, contact us.