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What A Career
In Management
Accounting
Looks Like
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A Variety Of Respected Job Roles
Being a CMA affords you a wealth of career opportunities. Management accountants work as cost accountants, budget
analysts, internal auditors or financial analysts inside an organization.
They may advance to positions such as accounting manager, chief cost accountant, budget director, or manager of
internal auditing.
Some become controllers, treasurers, financial vice presidents, chief financial officers or corporate presidents. Many
senior corporate executives have backgrounds in accounting, internal auditing or finance.
The possibilities are virtually endless.
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The CMA
Certification
And Who Its For
Most accounting qualifications train people for private practice, working on external audit
and tax issues.Certified Management Accountants (CMAs), however, are qualified to work
across an organisation, not just in auditing or finance.
Since first being offeredin 1972, the CMA certification has become thestandard for excellence in the field
ofmanagement accounting. With more than 40,000 CMAsglobally, the credential ishighly valued and respected by
top employers.
Thats because, according to theInstitute of Management Accountants(IMA), the CMA certificationdemonstrates your
command of the critical accounting and financial management skills, including:
Financial planning
Analysis
Control
Decision Support
Professional Ethics
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This graphic from the IMAs 2015 salary survey shows the average and median compensation for CMAs
throughout the world.
Major corporations such as 3M, Alcoa, AT&T, Bank of At Microsoft, we look for a combination of solid
America, Boeing, Cargill, Caterpillar, ConAgra, Hewlett- accounting skills, the ability to think strategically, and
Packard, Johnson & Johnson, Microsoft, Procter & strong business ethics. If someone is a CMA, we can be
Gamble, KeyCorp, Whirlpool, Saudi Aramco, Verizon and more comfortable that the person has mastered these
Xerox all have CMAs in key management roles. aspects of the profession.
Bob laux, CMA, CPA. Director of Technical Accounting
and Reporting Microsoft Corporation
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Career Networking: IMA Regional Councils & Chapters
The CMA certification extends well beyond the three letters after your name. As part of your IMA membership, you
have access tosome 300 IMA chapters worldwide that provide a forum for networking and professional education. You
can earn NASBA-approved CPE credits, as well as gain access to new leadership opportunities.
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Why A CPA
License Isnt
The Right Choice
For Everyone
Passing the CPA exam is a wonderful accomplishment and will take you far in the world of
public accounting. But interests change and new opportunities arise all the time. Heres
when and why you should consider adding CMA certification
As always, the decision of whether or not you should pursue advanced accounting certifications or credentials should
be made with a clear understanding of where your career is now and where you want to go.
If you are perfectly happy in the public accounting field and are content to focus your work on auditing and financial
reporting, your CPA license (and its ongoing education requirements) should suffice.
However, while the CPA exam is comprehensive in its volume of content, it doesnt prepare you for tackling
management accounting tasks such as financial analysis, cost accounting, risk management, and budgeting and
forecasting.
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Getting Started:
A Step-By-Step
Guide to CMA
Exam Procedures
& Registration
Becoming a Certified Management Accountant requires time and effort but the
opportunities for career advancement are worth it. If youre ready to earn your CMA, this
step-by-step guide should get you startedon your way.
NOTE:IMA has special arrangements with the Institute of Cost Accountants of India and the Association of Chartered
Certified Accountants that may affect the above requirements.
Dont meet the educational or professional experience requirements and want to get certified?There is an
option for every situation. The IMA offers a seven-year grace period for candidates in this situation. You can sit for the
exam and then finish your bachelor degree ortwoyears of professional experience within the next sevenyears from
the date of the exam. Once you do, youll automatically become an active CMA
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Taking The CMA Exam
The CMA exam is broken into two parts, which are both computer-based and administered in hundreds of testing
facilities worldwide. With three two-month testing windows each year, you can sit for an exam part at a time and place
convenient for you.
Examination windows:
Exams are offered only during these two-month periods:
1. January and February
2. May and June
3. September and October
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Exam Fees
Professional Member Fees
Non-refundable CMA Entrance Fee: $240*
Exam Fee: $395 per part
Rescheduling Fee**: $50
Student/AcademicMember Fees
Non-refundable CMA Entrance Fee: $180*
Exam Fee: $296.25 per part
Rescheduling Fee**: $50
**You must reschedule your exam more than 30 days prior to your scheduled appointment. You can only move the
date to a late date within the same two-month testing window.
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Understanding
How The CMA
Exam Is Scored
The CMA Exam has a unique scoring system that can sometimes be confusing for
candidates. Heres everything you need to know to correctly interpret your CMA Exam
score.
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CMA Exam Scoring Scale
Parts 1 and 2 of the CMA exam are scored on a scale of 0 to 500.
In order to equate all scores for all forms of the exam, the scores for each part are placed on a scale from 0
to 500. On this scale, a score of 360 represents the minimum passing scaled score. The scaled score allows
candidates to know how they performed in relation to the passing standard of 360. (Source: IMA)
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Still Not Convinced?
Hear From Some New CMAs
Register for a free, no obligation 14-day trial of the Wiley CMAexel Review
Course and get an exclusive 25% discount to use if you decide to purchase.
Wiley CMAexcel, the official test prep suite of the IMA, has helped thousands of students like Kim, Thomas, and
Hussein become CMAs and excelprofessionally.
Our CMA Review Course has been designed by top accounting lecturers with years of teaching and practice experience
with one simple objective: Help busy professionals grow and excel professionally by creating the most comprehensive
test prep material delivered using state-of-the-art adaptive learning and time management software.
Learn more about Wiley CMAexcel at www.efficientlearning.com/cma.
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