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Certified Management Accountant USA (CMA USA) is a professional certification that is awarded by the Institute of Management Accountants (IMA) in the Management Accounting and Financial Management fields. It remains one of the most-sought after programs courtesy of being certified from a leading country like the USA. Moreover, it shall help you bag an international qualification while also helping you earn global exposure.
Here are all the details that you should know about the importance of the CMA USA exam, including eligibility and syllabus. NorthStar Academy will also highlight the prominence of this examination over other similar certification programs.
In order to qualify for the prestigious CMA USA program, you must meet the criteria established by IMA. It should also be noted that candidates who have any sought for discrepancies in their application will not be allowed to participate in the process. Similarly, those who struggle to meet the perquisites will be deemed as unfit to get admission in the course. Below mentioned are the key requisites to become eligible for a CMA USA certification:
Let us look at some qualification criteria to clear the US CMA successfully. A successful candidate needs to score at least 360 marks out of a total of 500 to acquire the prestigious. One of the major benefits of this certification is that it gives an edge to students who compete for the Indian CMA certification.
A candidate has to appear for two examinations, with each paper accounting to 100 multiple choice questions (MCQs). Besides, they also have to mandatorily appear for an essay paper. Students are allotted three hours to complete the MCQ paper, while they get an hour to complete the essay segment.
A candidate who clears the first paper with at least 50% of the MCQs correctly answered gets the opportunity to appear for the essay section. Also, the essay paper, in general, consists of 8 to 10 written responses or calculation questions. These responses basically describe a business situation.
The below table describes the breakdown of key topics along with the weightage for each topic to help you prioritise key topics.
|Part 1 CMA USA||Part 2 CMA USA|
|Financial Planning, Performance, and Analytics||Strategic Financial Management|
|Section A – External Financial Reporting Decisions (15%)||Section A – Financial Statement Analysis (20%)|
|Section B – Planning, Budgeting, and Forecasting (20%)||Section B – Corporate Finance (20%)|
|Section C – Performance Management (20%)||Section C – Decision Analysis (25%)|
|Section D – Cost Management (15%)||Section D – Risk Management (10%)|
|Section E – Internal Control (15%)||Section E – Investment Decisions (10%)|
|Section F – Technology and Analytics (15%)||Section F – Professional Ethics (15%)|
The US MCA exam is conducted in three windows every year. The windows include,
To put into perspective, the exam is a computer-based test that is conducted at several Prometric testingcenterss across the world.
In order to appear for the exam, a candidate is expected to register on the IMA website. On successful registration on the website, they will receive their authorization number along with detailed instructions on the next steps. In case if a candidate misses out on appearing for the exam after registering for a particular testing window, they will have to register again for the next testing window by repaying the registration fees.
Having seen the basic details about the CMA USA program, let us now understand the position of this exam when compared to other similar exams from across the world. Similar to the CMA USA exam, we also have the CMA India exam in our country. Here’s an insightful comparison of the two exams.
|CMA USA||CMA India|
|Regulatory Body||Institute of Management Accountants||Institute of Cost Accountants of India|
|Eligibility||Class 12 / UG||Class 12|
|Course Duration||1 year||3 years|
|Course Format||2 parts||3 levels (foundation, intermediate and final)|
|Articleship||12 months of work progam||6 to 18 months|
|Passing Criteria||Minimum 360 out of 500 marks||40% of separate papers and 50% aggregate score|
We have already seen the comparison between US CMA and CMA India. Let us now emphasise on a stark comparison between US CMA and CPA.
|Regulatory Body||Institutes of Management Accountants (IMA)||American Institute of Certified Public Accountants (AICPA)|
|Course Duration||1 year||18 months|
|Difficulty||45% passing rate||50% passing rate|
|Exam Cycle||Four testing windows||Continuous|
While we may compare the advantages and disadvantages of the above two exams, it would not be wise to prioritise one over the other. It is most important to understand the two certification programs lead students to two altogether different career paths. Students who are keen on working in the fields of auditing, taxation, reporting, and regulation should opt for CPA. On the other hand, students who have an interest in management, strategic analysis, and decision making should definitely attempt the CMA USA certification program.
Students always lookout for the best coaching institutes to ace one of the most competitive exams in the world, with flying colours. Many times, it is seen that students do not pick the right options available and go on to join an institute that lacks the right offerings to help them succeed.
For such students, NorthStar Academy comes into picture, one of India’s best CMA USA coaching institutes. NorthStar Academy has emerged as a pioneer in the field of CMA USA coaching in India. The institute provides in depth understanding and learnings of the CMA USA examination to help students achieve their academic and professional goals.
Riding on the back of a teaching connoisseur like M Irfat, the institute offers well structured courses to ace CMA USA. These courses have been curated with an aim of helping the students understand the concepts of the exam better.
Moreover, NorthStar Academy led by M Irfat also lays extreme emphasis on the importance of regular practice of the subjects. Which is why NorthStar Academy conducts mock tests prior to the CMA USA exams. These tests are prepared with an aim of assessing the learning and preparedness of students throughout the duration of the course. Here’s your ultimate chance to achieve immense success by learning at the Best CMA USA online course provider in India, and IMA’s Gold-approved partner to pass the CMA USA in your very first attempt by joining NorthStar Academy – Best training institute for CMA USA in India. Enrol for the upcoming batch here! Call +918147470707 to get expert counseling.