The Certified Management Accountant (CMA) title is highly sought after and respected worldwide. For accountants, this designation is a good way to make earnings as it is globally recognised and attracts high-paying jobs. Joining the CMA Coaching in Bhubaneswar can help you prepare well for this certification.
Want to become a CMA but don’t know where to start? Read this step-by-step guide!
What Makes CMA Certification Important?
A Certified Management Accountant (CMA) qualification shows you know a lot about strategy accounting and financial management. Accounting and financial professionals all across the world recognise and value it.
If you are a management accountant who wants to work more closely with C-suite leaders, getting your CMA license can help you get there. It’s important because:
Business leaders value the certification because it lets accountants make smart choices about planning for the company.
In higher-level jobs, this certification helps increase the chances of getting a higher base salary.
Getting your CMA license can help you get promoted and find new work.
The CMA certification is respected and recognised worldwide, which can lead to job chances at foreign companies.
How to Prepare for CMA Certification
Being CMA certified can help you get more jobs and give you an edge over others in the industry. However, you must know a lot about accounting and financial management to get this certification.
Meeting all academic responsibilities
To become a CMA, you must have a bachelor's degree from a recognised college or university. Professional certifications like CPA, ACCA, or CA are also acceptable.
Register Yourself with the IMA
The Institute of Management Accountants (IMA) is the professional organisation that gives the CMA qualification to people who pass the exams. Joining IMA is the first thing to do to become a CMA. After paying the fee, you will be a member of the IMA.
Related Read: How Insight Academy Prepares You for Both CMA Foundation and Final Exams
Find out the CMA Test Pattern
The CMA test is divided into two parts, each with 100 multiple-choice questions (MCQs) and two essay-style questions. Part 1 covers planning, tracking, and analysing finances, and Part 2 covers strategic financial management.
Get Ready for the Test
There are many study guides and review classes available that can help you prepare for the test. You can look for CMA coaching near me and join it. It is very important to make a study plan and stick to it.
Do Well on the Test
You need to get at least 360 out of 500 on every part of the test to pass. After the test, you'll get your results right away, and if you pass, you'll get your CMA license.
Get the Work Skills You Need
You need to have worked in a similar area for at least two years before you can become a CMA. You can get the knowledge you need before or after you pass the test.
Apply for CMA Certification
You can apply for your CMA certification after passing the test and earning proper work experience. Send in your fully filled-out application form, the required fee and proof of your education and work experience.
Keep Your Licence up to Date
You must do 30 hours of continuing professional education (CPE) every year to keep your CMA license. Two of those hours must be spent on ethics lessons. You also have to pay the IMA's yearly fee to be a member.
Summing Up
Becoming a CMA is a difficult process that requires determination, hard work, and a desire to keep learning. There are, however, many rewarding job opportunities that you can explore with this certification. By enrolling in CMA Coaching in Bhubaneswar, you can get the right guidance to become a Certified Management Accountant and move up in your career.
Insight Academy of Commerce offers CMA coaching to help students prepare for this advanced test. Get signed up for the classes and start right away!
Frequently Asked Questions
Can I take the CMA exam without experience?
Before finishing your CMA coursework or experience, you can start pursuing a Certified Management Accountant. You can enrol on a CMA study program and take the CMA test after joining the IMA. However, to receive your CMA, you must not only pass both portions of the CMA Exam and have a bachelor's degree or a similar professional qualification but also work in accounting for at least two years.
What Are the CMA Requirements?
Before completing your CMA curriculum or experience, you can get a Certified Management Accountant. After joining the IMA, you can take and study for the CMA test. To get your CMA, you must pass both parts of the CMA Exam, have a bachelor's degree or related qualification, and have two years of accounting experience.
What's the best CMA degree?
Most CMA candidates acquire a bachelor's in business, accounting, finance, or economics. You must get a bachelor's degree from a recognised institution to be a CMA.