A Complete Overview About CMA USA course in 2023: Step-by-Step Guide

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A Complete Overview About CMA USA course in 2023: Step-by-Step Guide

Table of Contents

Introduction

Your career will expand to its fullest potential if you obtain an international degree and gain exposure to the world. You are at the right place if you are also interested in obtaining this Management Accounting certification from the US by completing CMA USA. Read this blog to the end to understand important information about the CMA USA course, price, eligibility, syllabus, and many more.

  • Stop allowing the limitations of time to hold you back. 
  • You can still obtain your CMA credential by enrolling in courses at a recognized online university if attending classes each day on the campus of your local university is not feasible. 
  • Learn how to advance your career by understanding Management Accounting, Financial Accounting, Financial Management, and Taxation.

Advantages of CMA USA Study

  • A worldwide credential is CMA USA. After earning your degree in the United States and in nations like India, China, the United Kingdom, Canada, and the Middle East, you have opportunities.
  • CMA USA is the highest level of certification in Management Accounting.
  • You have an excellent chance for a hike in compensation with CMA USA. According to statistics from IMA, 58 percent of professionals with a CMA USA certification experience an increase in pay and benefits. In contrast, 37% of people between the ages of 20 and 29 receive salary benefits.
  • CMA USA courses can be completed in a short duration, between 6-9 months
  • There is an added advantage in pursuing CMA USA because the exam is offered three times a year: January and February, May and June, and September and October.
  • You can enroll in the CMA USA course as soon as you complete the 12th class. Being a flexible degree, you can enroll in a CMA program no matter what you are studying.
  • It is advantageous since many middle-level and senior-level professionals pursue it in order to gain knowledge in the fields of Financial Management, Accounting, and Business. Your career will grow and improve due to taking CMA USA, which is the most significant benefit. 

CMA USA Scope

The expertise you gain will make you in demand as a speaker at international symposiums and as a contributor to internationally renowned professional periodicals. 

  • As a US CMA, you will have a distinct perspective on business that will enable you to identify problems, map solutions, and put the proper plans in place with the right people to achieve an organization’s objectives. 

Research the numerous authorized online universities that provide CMA designations right away. One of your most significant investments will be this one. 

  • Getting a Certified Management Accountant Designation from a recognized online coaching academy will allow you to advance your career if you want more than just financial reporting or auditing as a professional. 

You will possess essential skills as a CMA in areas including Management Accounting, Cost Management, and Strategic Performance Measurement. Place yourself at the head of the line when the top firms are hiring in today’s expanding global market since the fierce competition. Become a financial industry leader who is regarded and appreciated globally.

Who can join the CMA USA Course?

To pursue a US CMA course, you must complete 12th class in any subject. If you’re already pursuing your degree, you can also take the CMA USA exam with a bachelor’s degree in any domain. To become a CMA USA certified professional, candidates must complete two years of experience in Management Accounting or Finance. However, if you just passed the exam, you will have seven years of the timeline to meet your experience requirement.

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CMA USA Course Duration

The CMA USA certification can be finished within 6-9 months. You will have three years to complete if you are a student. If you are a working professional, you will have one year to complete CMA USA as there are two different types of membership for Students and professionals.

CMA USA Exam Fee

You must be an IMA member to write the CMA USA exams. There are two categories of IMA Membership. They are 

  1. Student Membership 
  2. Professional Membership 

There will be separate IMA fees associated with each membership. So be cautious to know the proper amount before paying any fees.

CMA USA Student Category Fees

Particulars ($)
Membership Registration fee (Valid for 3 years) $45*3 135
IMA Entrance fee (On time fee) 210
Part 1 Exam fee 345
Part 2 Exam fee 345
Total 1035

CMA USA Professional Category Fees

Particulars ($)
IMA Membership Registration fee (Valid for 1 year) 260
IMA Entrance fee (On time fee) 280
Part 1 Exam fee 460
Part 2 Exam fee 460
Total 1460

Question paper pattern for CMA USA 

There will be two parts to the CMA USA exams. Students are required to follow the question paper pattern for exams preparation, and here are the given points:

  • 100MCQ-375
  • Two essay type question-125
  • Total-360 passing

Syllabus of CMA USA

The syllabus of CMA USA is being provided in two parts such as Part-1 & Part-2, for Financial Planning, Performance, and Analytics, and Strategic Financial Management, respectively. 

The sub-parts connecting these two parts are being distributed percentage-wise, i.e., they are

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

Part 2: Strategic Financial Management

  • 20%Financial Statement Analysis
  • 20%Corporate Finance
  • 25%Decision Analysis
  • 10%Risk Management
  • 10%Investment Decision
  • 15%Professional Ethics

CMA USA Eligibility

  • The 12th grade is a prerequisite for taking the CMA USA exam.
  • You must be a member in good standing of the IMA.
  • A UG degree from a reputable institution or college is required to get the final CMA certification. It ought to fall under that category.
  • Additionally, you should have at least two years of professional experience in management or Management Accounting.
  • You must follow the Statement of Ethical Professional Practice of the IMA.

CMA Scholarship

The CMA is regarded as one of the best courses for the Management Accounts industry since the IMA offers scholarships to prospective candidates. Many students from different countries enroll in it. 

  • You should be aware that around 9,200 students have received this certification and only a few recognized institutions registered with IMA. 
  • Over 14 million USD worth of scholarships has been given in total.

The CMA USA Application process

You can gain much from the CMA examinations regarding growth and development. If you want to apply for CMA USA and are also a financial or accounting professional,

To submit an application successfully, kindly adhere to the steps below.

  • Step 1: Please abide by the CMA exam eligibility requirements. Keep in mind that there are other requirements for education and experience besides passing the CMA examinations.
  • Step 2: The next step is to select and prepare the appropriate exam materials.
  • Step 3: Register with IMA by paying the registration and entrance fees. Remember that joining the IMA is not required until you are ready to sign up for the examinations.
  • Schedule your Exam.
  • Step 4: At this point, you must pay the registration expenses for the CMA exam. We advise that you complete it six to eight weeks before you are prepared to take your first exam. You have three years from the time you pay to pass both portions; thus, delaying will offer you more time to finish the examinations.
  • Step 5: The IMA will give you an authorization number. To book your exam day and time with Prometric, you need it.
  • Step 6: Schedule the CMA USA exam in the Prometric with the exam date and time. Your permission number is required for this task. Also, keep in mind that if you want to reschedule it later, there will be a 50 USD cost. The exam window cannot be altered, though.

Jobs opportunities for CMA USA

The best thing about CMA USA is that it gives you a wide range of professional prospects because reputable financial and business organizations around the world accept your A-level certification.

All industries have a high demand for US CMA.Big 4s and MNCs like Deloitte, PwC, EY, KPMG, Accenture, Amazon, and others are hiring CMAs as well for managerial jobs like Management Accountant, Chief Financial Officers, Budget Analysts, Cost Auditors, and Financial Controllers, among many other high-level positions.

The US CMAs have many career opportunities in India, including the ones listed below and many more related to finance, because they are in high demand across many industries for numerous talents.

  • Research Analyst
  • Cost Accountant
  • Legal Advisor
  • Finance Manager
  • Financial Analyst
  • Management Consultant
  • Cost Auditor

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India’s US CMA Salary

The typical US CMA pay in India is based on a number of variables, including the exam score, the number of retakes, the candidate’s articulation abilities, their experience, their interview skills, and the corporate profile. 

  • An entry-level US CMA applicant can expect to make between INR 4 and INR 7 lakhs annually. 
  • For the CFO of a corporation, this might reach over INR 80 lakhs.
  • The industry has a significant impact on the trajectory of US CMA salaries in India. 
  • An INR 7-8 lakhs remuneration might be expected for new US CMA experts working in Indian investment banks. 
  • International banks may offer prospective applicants salaries from INR 15 to 25 lakhs. 
  • The average US CMA pay for freshmen in the IT business is INR 12 lakhs per year, compared to INR 7 lakhs in the manufacturing industry.
  • An experienced professional with a US CMA earns an average compensation of 15 to 60 lakhs per year in India when working for one of the Big 4 corporations and other US MNCs like Deloitte, Capgemini, PWC, EY, Amazon, HP, Microsoft, etc. This figure multiplies if a US CMA works in the Middle East, Australia, or Western nations.

Jobs and scope for US CMAs in the Middle East 

99% of MNCs and significant corporations that have launched operations in the Middle East in the last ten years, according to statistics, are US-based. The Big 4 and all of these businesses must abide by Securities Exchange Commission regulations. For internal accounting, financial analysis, pricing choices, costing, and other functions, US CMA is a requirement for all SEC-compliant businesses.

As more and more applicants from these nations sit for the exam, the CMA certification has progressively grown in popularity in the Middle East. I wanted to take the time to offer some fascinating facts about the Middle East because a large portion of the CMA Coach community is made up of people from there.

  • Based on the most recent findings, we are observing an increase in the income trend.
  • A Middle Eastern CMA‘s average base pay currently stands at $49,767, and its average yearly total pay is $60,032.
  • The Middle East consists of numerous nations, and the median income for CMAs in each of these nations varies considerably.
  • The UAE, Dubai, Sharjah, and Qatar pay the most for management accountants, while Jordan and Egypt pay the least.

Conclusion

The profession of CMA enables it to make sensible analyses and decisions regarding the future phase of a certain company’s development. It’s not simple to become a Certified Management Accountant. One must pass tests and demonstrate to the corporate world that they are competent. According to a study, CMAs make 25% more money than non-certified individuals. It’s worth fighting for this certification because it speaks for itself. It can help you establish yourself as an Expert Professional in your profession, making earning respectable pay always possible.

Pass the test, become a Certified CMA, and join the team as a member with the most cutting-edge talents, skills, and knowledge in the business world.

Choose according to your passion and complete the CMA certification requirements to make the best out of your career. You can reasonably get the best CMA certification course in India from NorthStar Academy

Register for our certification course and welcome endless future opportunities with our best organized and comprehensive systems along with top mentors like Irfat Sir

Still have any queries, you can always contact us.

FAQ’s

1. What exactly is the US CMA?

The professional certification designation “Certified Management Accountant” is recognized in management accounting and financial management. The qualification shows that the individual is knowledgeable about professional ethics, financial planning, analysis, and control.

2. How much does a US CMA make?

The average annual compensation for a CMA is roughly $85,000. However, there are many variables that can affect a CMA’s pay, including experience, geography, the particulars of their job description, and more.

3. Is CMA accepted in the US?

Because CMA USA is more widely recognized, professionals who hold a CMA USA certification have an advantage over those who have completed CMA India. You are qualified to work anywhere in the world as a CMA USA professional, without limitations, in positions linked to accounting, finance, and auditing.

4. Is CMA popular in the US?

The advanced professional credential known as Certified Management Accountant, or CMA, has a real-world benefit. It demonstrates your mastery of the intricate accounting and money management techniques that are necessary in today’s business world.

5. How Tough Is CMA USA?

Since it tests a person’s intellectual capacity, the US CMA Exam is regarded as the toughest. The average passing percentage for both sections is 45%, meaning that fewer than half of the test-takers will succeed. Any exam involves preparation. Thus this is necessary.

6. Does the US CMA apply in India?

Many businesses and organizations in this era of globalization need CMAs with expertise in value development and business strategy. The importance of CMA has dramatically increased over time. It is due to the expansion of the Indian economy and sizable international markets. One of the biggest benefits of getting a US CMA certification is that it will give Indian candidates access to a wide range of opportunities.

A challenging and effective career path in India is the CMA USA certification. The chances for a CMA career are improving across all economic activities as a result of the remarkable rate at which the majority of businesses, corporations, and organizations adapt globally.

7. Can CMA USA compete with CMA India?

Students who pursue a CMA in India or the United States will be equipped with the necessary information and abilities to succeed in the fields of financial accounting and strategic management. However, there are a number of ways that the two courses differ from one another.

8. Can CMA compete with MBA?

A CMA certification can nearly always be obtained sooner than an MBA, albeit this varies on the MBA route and the school. You can sit for the CMA Exam before earning your undergraduate degree. Then, when you have two years of professional experience under your belt, you can finish the certification procedure.

9. Can CMA obtain employment with the government?

The Indian Cost Accounts Service is open to professionals with a CMA. It is legal for CMA practitioners to certify a variety of returns and issue Compliance Certificates in accordance with the formats specified by the various Ministries of the Government of India.

10. Is US CMA preferable to CA?

Comparing CMA USA and CA, the former has a higher success rate. The program is significantly simpler to finish and assures you the same benefits as the one offered by CA. Your chances of winning are great because CMA USA is less competitive than CA. A good wage in lakhs can be obtained in as little as 6–9 months.

11. Which nation is the best fit for CMA USA?

The best country to work in if you’re referring to CMA (US) is undoubtedly the United States. But in addition to the USA, you can also find lucrative opportunities in India, the Middle East, and Africa.

In about 6–9 months, you can pass the CMA (US) examinations. There are only two examinations left for you to pass. You will require expert assistance, which you may obtain at NorthStar Academy, the top training facility for CMAs in the US. You can participate in the online training from any location in the world.

12. Can I participate in CMA USA beyond my 12th-grade year?

Yes, after passing their 12th-grade examinations and even while pursuing a degree, any student can enroll in US CMA. It just takes 6 to 9 months to complete a professional certification that is also widely accepted.

13. How much does a CMA make per month?

In order to make good money in their professional careers, students are turning to cost accounting. In India, the average annual salary for a CMA is 3.5 lakh. Your pay will rise as you develop expertise and knowledge. As a CMA, you are eligible to get a salary of up to 50 lakh rupees annually if you hold the highest position within an organization. Over the past few years, CMA has gained prominence.

14. Whose pay is higher, CA or CMA?

However, CA is seen as being a superior option to CMA in terms of current financial conditions, job availability, scope, and knowledge, as well as opportunities. But as everyone is aware, time will alter one day, and as a result, CMA’s earning potential will be lower than CA’s.

15. Do people want CMA?

In various sectors and government agencies both in India and overseas, there is a constant need for cost accountants who are qualified, skilled, and experienced.

16. Why is CMA unpopular?

India’s CMA market looks promising. Both PSUs and MNCs place a high value on it. Due to people’s constant pursuit of the rat race, it is often less popular than the CA profession. A decision-making role inside an organization can be played using CMA.

17. What comes after CMA USA?

The US CPA course might be an excellent choice to pursue after your US CMA if you want to specialize in accounting. A certification offered by the American Institute of Certified Public Accountants(AICPA) is known as US CPA or Certified Public Accountant (CPA).

18. Is the CMA exam difficult?

Your mental fortitude will be tested by the CMA exam, which is highly challenging. Less than half of test takers will pass, according to the CMA’s 45 percent industry average pass rate for both sections. Because of the complexity and difficulty of the CMA exam, you must study if you hope to pass.

19. How do I succeed on my first try at CMA USA?

Giving yourself lots of time to study and prepare is the key to passing the CMA on your first try.

Here are a few other considerations:

The first step is picking a reputable university and having a plan for your studies. Spend some extra time studying if you want to avoid wasting your money. Read each chapter twice, and highlight the key elements. Keep a journal to keep track of any questions you may have, and try to get them answered right away. This is only possible if you have a good mentor to help you and answer your questions. You can successfully pass the exam on your first try.

20. Which institute in India is the best for CMA USA?

The world’s top complete training provider for CMA USA is NorthStar Academy. It is the top CMA USA coaching in India and offers online courses with a high passing rate for candidates.

21.Is CMA superior to CFA?

Comparatively, more people are seeking the CMA certification. Asset management and fund-related businesses take note of the CFA qualification for equities research. Due to their extremely specialized knowledge, CFAs are also known to obtain very top positions in various companies.

22. Does the CIA excel over the CMA?

The CIA is probably the ideal choice if you have a keen eye for detail and desire financial auditing responsibilities. However, if you would rather have a more managerial position and earn more money, the CMA may be for you.

 23. Is CMA more difficult than CPA?

It’s not tougher; in fact, it’s simple. The fact that most accountants work in business indicates how much more helpful a management accountant’s expertise will be for accountants in the long run. Many applicants who studied for both the CPA and CMA think that the CMA topics are more engaging and applicable to their day-to-day work, while the CPA materials are overly theoretical.

24. Can I get an MBA after getting my CMA?

The benefits of earning an MBA from one of the best business schools in the nation include better job placements and higher salaries after making a CMA or concurrently with a CMA. Like Symbiosis University, you can also complete an MBA through distance study. Along with CMA, this is another excellent option to consider.

25. Is a job in the US CMA a good choice?

One of the greatest programs for students looking for work outside of India is the US CMA, which is a recognized worldwide credential. Research analysts, cost accountants, financial analysts, finance managers, and members of the financial C-Suite are just a few jobs that US CMAs can have.

26. Which degree pairs the CMA the best?

Doing an MBA at any top institution in the nation after earning a CMA or in addition to making a CMA offers many benefits in the form of favorable job placements and higher compensation. Like Symbiosis University, you can also pursue an MBA online. Along with CMA, this is another excellent choice that may be made.

27. Is CMA a Master’s degree?

According to a decision made by the University Grants Commission (UGC), the qualification of CMA shall be regarded as comparable to a postgraduate degree for UGC-NET applications. Indian citizens can apply for assistant professorships, junior research fellowships, or both in Indian universities and colleges by taking the National Eligibility Test (NET).

28. Can I perform an Us CMA using BCOM?

Yes, compared to other courses taken alongside B-COM, CMA is significantly more extensive. Every year, more than 60% of test-takers pass the CMA USA exam.

We now have an advantage thanks to CMA, and we are qualified to work for businesses and multinational corporations both in India and abroad. We will be able to make at least 33.33% more money than each non-certified accountant if we are successful in earning a CMA and a B.COM.

29. Is MBA harder than CMA?

The MBA in Financial covers a significantly more comprehensive range of finance modules, whereas the CMA is focused on management accounting, despite the fact that both are ranked as the top career goals in the accounts sector.

30. How can I make a US CMA application?

Step 1: Verify that you satisfy the prerequisites for the CMA exam.

Step 2: Select the CMA study resources that are most effective for you, and then get to work.

Step 3: Join the IMA today.

Step 4: Pay the CMA Exam Registration Fee and Entrance Fee.

Step 5: You should get your authorization number.

Step 6: Your exam is scheduled.

31. Can I use CMA USA in the UK?

Yes, the CMA USA credential is accepted throughout the world, including in China, India, the UK, Canada, and the Middle East.

32. How many students complete the CMA?

The most recent statistics show that 43 percent of people who take the CMA exam successfully pass it on average. According to the most recent information made public by the ICMA (Institute of Certified Management Accountants), 36.25 percent of applicants completed the CMA exam’s Part 1.

33. How much does it cost to join CMA?

Your mastery of a broad corpus of accounting and financial management knowledge is validated by receiving your certification. It is an impressive feat to pass these demanding exams. Become certified as a CMA by enrolling in the IMA’s course. There is a non-refundable cost associated with this that must be paid before you may register for any exam portion. The entrance fees of CMA are 250 USD.

34. How much time should I devote to studying for the CMA exam?

In comparison to studying for 10 hours a week, studying for 20 hours a week entails averaging over three hours per day. You must spend more time each day if you want to prepare more quickly.

35. Are there multiple choices on the CMA exam?

With only three hours to complete each exam section, candidates only have about 1.5 minutes to respond to each of the 100 multiple-choice questions that are included.

36. Does CMA USA use negative marking?

Since there are no penalty marks for invalid responses, it is highly recommended that you answer every question, whether or not you are certain of the answer. Doing so only raises your chances of obtaining an answer right by 25%.

37. What score does CMA require to pass?

Parts one and two both have a passing rate of 45%—scores for the exam range from 0 to 500 on a sliding scale. If you receive a score of 360 or more—the passing mark—you have successfully completed the exam.

38. If you don’t pass the CMA exam, what happens?

You can follow these measures to retake the exam section you failed after your spirits have improved: Re-register for the exam. Make a new appointment with Prometric for testing.

39. How frequently can CMA be taken?

You can take the CMA USA Part 1 or Part 2 exams in any sequence, but you can only move on to the next one if you pass the first one. If you want to retake the exam, you must register again because your exam registration is only suitable for one exam window.

40. How many exams make up the CMA?

There are two components to the CMA Exam, and they can be taken in any combination. One exam may only be taken at once. Candidates have three years to finish both exam components.

41. Is the CMA exam offered online?

Exams for the US CMA can be passed in 7 to 9 months. At the Prometric centers, exams are given online.

42. Can someone without experience take the CMA exam?

For two consecutive years, candidates for the CMA certification had to work full-time in management accounting or financial management. These criteria will also be satisfied by four years of continuous part-time employment.

43. The CMA test is computer-based, right?

The CMA test is entirely automated. The exam can be taken in person at one of the many Prometric locations worldwide or online with remote proctoring. Candidates have six months out of a possible twelve to take the exam.

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