How to Pursue US CMA in Pakistan? Ultimate Guide
Admin 29 Dec, 2023 Introduction
CMA stands for Certified Management Accountant and is a professional certification accredited by the international accounting organization IMA (Institute of Management Accountants). The CMA USA will assist you in raising the bar for professional excellence, whether your goal is to increase the value you contribute to your current role, or widen your career possibilities.
If you're considering obtaining your US CMA certification in Pakistan, you are in the perfect place. The CMA USA is a globally recognized advanced-level certificate for company accountants and financial professionals. Obtaining the CMA USA certification proves your command of the critical financial management abilities required by today's modern businesses, which may lead to significant employment prospects.
Here, we will discuss all pertinent topics that will resolve any queries you may have regarding obtaining a CMA in Pakistan.
What are the CMA USA Eligibility Criteria?
If you're considering doing US CMA in Pakistan, you must adhere to specific eligibility requirements. Below are the essential prerequisites for becoming a certified CMA USA professional.
The candidate must get a Bachelor's degree from an accredited institution or university.
Avail a membership of the Institute of Management Accountants (IMA).
Two years of industry experience within seven years of the CMA exam passing date.
Schedule the exam with Prometric after payment of the IMA and CMA admission fees. You may look up your centre's availability and arrange a visit.
The IMA's Statement of Ethical Professional Practice is something that a candidate must adhere to.
You need to note that if you take the exam after the 12th, you will not receive the CMA certificate until you complete your graduate degree and two years of relevant work experience.
Fee structure - US CMA Pakistan
The fee structure for US CMA Pakistan varies depending on whether you are a professional member, a student, or an academic member of IMA. The CMA exam fees are divided into the following three categories:
IMA membership program fees: IMA is the organization presenting the CMA certification to all qualified applicants. Before you attempt the CMA examination and get your certificate, becoming a member of the IMA is mandatory. You must pay a fixed annual fee of $245 to maintain your membership (depending on your location). These yearly fees must be paid both while pursuing the CMA certification and after you have obtained it. Your CMA USA certification will expire if you do not pay the IMA membership fees. The cost of the IMA membership and CMA USA certification cost varies depending on the applicant's professional status.
CMA USA entrance fees: After you have gained IMA membership, it is time to pay the CMA entrance test fee and begin studying for the CMA examination. You will have to pay this fee once at the beginning of your CMA journey. Again, entrance fees for the CMA Pakistan differ considerably depending on your professional status.
CMA USA registration fees: You must pay this registration fee to sit for the upcoming CMA exam. The examination structure for CMA Pakistan consists of two sections, and you must pay for each exam separately. As a result, you will be required to pay the CMA examination fees twice. Each fee allows you to take the exams only once.
Fee details for the IMA�s US CMA Pakistan course (Student Category):
| Particulars | Fee( in US Dollars) |
| Membership Registration fee (valid for one year) | 135 |
| IMA Entrance fee (valid for 3 years) | 210 |
| Part 1 exam fee | 345 |
| Part 2 exam fee | 345 |
| Total CMA USA student category fees | 1035 |
Fee details for CMA Pakistan course (Professional Category):
| Particulars | Fee(in US dollars) |
| Membership Registration fee (valid for three years) | 260 |
| IMA Entrance fee (valid for three years) | 280 |
| Part 1 exam fee | 460 |
| Part 2 exam fee | 460 |
| Total CMA USA professional category fees | 1460 |
What are the CMA USA Exemptions?
As the exemptions are to ease the other certification process because of possessing another one. That means a person having the CMA USA certification can have some exemptions for other prestigious accounting certifications.
The exemptions for the CMA USA have been limited for many certification bodies. If you are a member of IMA and a US CMA-certified professional, you are eligible to give the CPA USA, CMA India, or ACCA certification exam. However, since the exam parts of the CMA USA have been curtailed to two, there is no exemption in the CPA exams. Read ahead for the exemptions for CMA USA if you are a certified ACCA.
CMA USA exemptions for ACCA
You will not need a bachelor's degree if you have an ACCA certification. In other words, if you choose to pursue the ACCA certification following your 10+2 school leaving examinations and did not pursue or are still pursuing your bachelor's degree, you will benefit from this exemption. As an ACCA member, you are still eligible to enroll in CMA and fulfill the remaining CMA qualifying requirements. You must ask ACCA to issue an official letter certifying that you are an eligible member to receive the CMA exemptions.
Books & Study Material for US CMA in Pakistan
The conducting body, the IMA, does not provide any study materials.
Hence, the applicant must rely on third-party firms for study materials, even though the IMA has verified these companies, including Gleim, Becker, Hock, Wiley, etc.
The following list includes some of the best CMA study guides and books, rated from top to bottom:
2. Wiley US CMA review system
3. Hock US CMA study material
4. Becker US CMA review system
Syllabus and Subjects of US CMA Pakistan
The US CMA Pakistan program has two exam parts. The whole US CMA Subjects are listed below:
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
A large number of institutes will claim that their CMA USA study material is the most excellent option for preparation, but the only way to know for sure is to compare the contents and check to see whether the claim is genuine. However, the study material from Gleim is the most preferred, oldest, and most authentic. It is well-organized into 12 books to make the preparation easier for students.
Pakistan Management Institution (also PIM)
The Pakistan Institute of Management (PIM) was founded in Karachi by the Federal Government in 1954 to improve management education and development throughout the country. PIM is governed by a strong independent Board of Governors (BoG) chosen by the Honorable Prime Minister and operates under the Ministry of Industries and Production of the Government of Pakistan. PIM has the highest full-time faculty members on staff of any management training school in Pakistan. Its fundamental aim is to provide training, consulting, and research to meet the rising demands of organizational managers.
Many accredited business schools offer US CMA Pakistan, with management and teaching teams that are well trained. In Pakistan, the scope of the CMA USA is very highly considered. Particular sorts of jobs are available to CMA USA degree holders. These are top-level and executive-grade job openings with compensation values in the lakhs. So, we can say that the job prospects of doing US CMA Pakistan are relatively broad.
FAQs:
- Which is the best institute that offers the best US CMA in Pakistan?
The certificate of Certified Management Accountant, or CMA (USA), is highly regarded and may lead to a variety of career prospects. If you are in Karachi and wondering where the course should be taken, please keep in mind that CMA is globally approved and available anywhere. Many CMA USA institutes also offer online courses where students can study financial management and management accounting fundamentals. These institutes also provide live sessions and pre-recorded lessons that applicants may see whenever and wherever they choose, increasing the flexibility of their study schedule.
- How tough is the CMA exam to pass?
The Exam for CMA Pakistan is considered the most difficult because it challenges an individual's intellectual limits. The majority of CMA USA candidates are unable to achieve passing marks. Because the US CMA content is difficult, students receive lower grades. The difficulty level of the exam and the students' lack of proper guidance can be the reason for this. The CMA USA exam evaluates students' financial and managerial accounting knowledge. You may easily perform better in both areas if you are familiar with the CMA USA Syllabus.
- Is CMA a good career?
Yes, CMA is a very good career option as it provides you international Credibility with membership in IMA, which is recognised as the top certification in management accounting in the US. Additionally, it gives you access to global possibilities in the accounting and finance sectors, all with better salaries and job prospects. Over the past few years, there has been an increase in demand for CMAs. A CMA has a wide range of opportunities across the world. You should certainly think about taking this course if you wish to pursue a career in finance internationally.
- Can I do CMA with BCom?
Yes, acquiring CMA USA certifications while studying a BCom might be very helpful. While obtaining a BCom degree, students who want to combine it with a CMA designation can gain extensive foundational knowledge in a range of financial and managerial accounting topics. It is one of the most demanding and well-paid job choices, and packages for BCOM with CMA graduates are competitive in both private and governmental enterprises.
- Who is eligible for ICMA?
The Institute of Certified Management Accountants (ICMA) is an international organization based in Australia with a management accounting speciality. The goals of the ICMA are to offer a professional association for management accountants and to encourage, disseminate, and develop a specialization in companies throughout Australia, Asia, Europe, Africa, and the Americas.
ICMA has seven membership categories, each with its own set of educational and experience eligibility requirements:
- Affiliate Level: Management Accounting Affiliate (MAA)
- Technical level: Registered Cost Accountant (RCA); Certified Accounting Technician (CAT) & Registered Business Administrator (RBA)
- Graduate Level: Associate Management Accountant (AMA) & Graduate Management Accountant (GMA)
- Post-Graduate Level: Certified Management Accountant (CMA)
- What does the ICMA regulate?
The Institute of Certified Management Accountants (Australia) is an independent Australian body. The Commonwealth of Nations has recognized the ICMA under the category of Civic Organizations. ICMA provides training and exams for its education program at all of its Regional and Branch sites, as well as in over 20 additional countries where students pursue the CMA program online or through distance education. Additionally, the only professional organization offering post-graduate (Master's Degree) coursework is ICMA.
Conclusion
In conclusion, doing the CMA USA certification in Pakistan can open numerous opportunities for professionals who want to make a career in management & accounting. You need the right preparation to pass the CMA USA tests in one sitting. The US CMA Pakistan has a vast syllabus and requires comprehensive training and preparation.
There is no need to search further if you are seeking the ideal CMA USA institute for yourself. The NorthStar Academy (NSA) is available to you. NSA was awarded as the �Best Emerging Educational Institute In Bangalore� (2017) and the �Best Training Institute� by the Indian Education Awards (2020). Over the years, it has helped more than 15,000 students in India and more than 30 other nations pass the CMA USA exam with flying colours.
If your dream is to become a CMA Pakistan, Irfat sir and experts of NSA will help you achieve your goal.
Apply today at NorthStar Academy to finish your CMA USA certification! For additional information, please call us at +918147470707. in that