A. Yes, it is issued by IMA – a global network of more than 125,000 members in 150 countries and 300 professional chapters Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India.
Q. Who can join this course ? What are the eligibility criteria ?
A. In India, there is no entry criteria. Anyone who has completed their +2 level or equivalent and is interested in pursuing a career in Finance and management Accounting can join the course.
Q. What benefit do I get if I follow the integrated course in this college/ how it is different from other institutes ?
A. (i) In-house training.
(ii) Saves time.
(iii) Saves money.
Q. What is required to earn the CMA certification ?
A. a.) A bachelor’s degree from an accredited college/university or a related professional certification.
b.) Two continuous years of professional experience in management accounting or financial management, which can be completed after passing the exam, but are required as a final step to certification.
c.) Passing Parts 1 and 2 of the CMA exam.
d.) Active membership with IMA (Institute of Management Accountants).
e.) Abide by IMA’s statement of Ethical Professional Practice.
Q. Where do I take my CMA exam ?
A. The CMA exam is fully automated and is available at hundreds of Prometric centers around the world. There are three testing windows, January-February, May-June, and September-October. Log onto www.prometric.com/ICMA to locate a testing center, schedule, confirm, reschedule, or cancel your appointment 24 hours, seven days a week.
Q. Is the use of a calculator allowed at the examination center ?
A. Small battery- or solar-powered electronic calculators restricted to a maximum of six functions— addition, subtraction, multiplication, division, square root, and percentage—are allowed. The calculator must not be programmable and must not use any type of tape. Please refer to CMA handbook page no 10 for further clarification.
Q. What is the mark needed to pass ?
A. The total marks per paper are 500. CMA candidates must acquire a minimum of 360 marks to pass.
Q. Can I retake the exam?
A. An exam part may be taken only once in a testing window. You can sit for as many testing windows as you need in your three-year period.
Q. Is there any negative marking?
A. No, there is no negative marking.
Q. If I don’t write CMA exams during my UG study time can I write it later?
A. Candidates must complete the CMA program within three years from the date of entry into the program. If both exam parts are not successfully completed within three years of entering the certification program, any passed part will expire, and the CMA entrance fee will have to be repaid. Once paid, the entrance fee provides candidates with another three years to write the exams.
Q. What is the value creation done by the Management Accountant ?
A. Certified Management Accountants play an important role as advisors, value creator, and work closely as strategic business partner to top management. Their role includes but is not limited to :
(i) Acting as trusted business advisors
(ii) Supporting the management decision-making process
(iii) Involvement in strategic development initiatives
(iv) Working “hands on” to add value to organizations
(v) Using broad-based business knowledge to improve company performance
(vi) Product-pricing decisions and further pricing strategies
(vii) Cost Management – analyzing, reducing, and managing costs
(viii) Setting up standards for costs and analyzing any variances
(ix) Planning, budgeting, and forecasting
(x) Raising Capital – assessing how to raise capital for a business, deciding between debt & equity, and minimizing the cost of capital
(xi) Investment Decisions – analyzing and ranking investment avenues (or projects) using Capital Budgeting techniques like NPV (Net Present Value), IRR (Internal Rate of Return), etc.
(xii) Financial Analysis – analyzing the company’s profitability, activity, liquidity, solvency, debt coverage, etc.
(xiii) Fair and accurate financial accounting & reporting
(xiv) Compliance with laws & regulations
(xiv) Effective & efficient business operations
Q. If I have any queries regarding the course whom should I connect ?
A. You can talk to our Admission Counsellors and Experts on these numbers : +91-7413874138 or you can mail to : email@example.com
Q. What jobs can I look for after acquiring the US CMA ?
A. (i) The CMA is a performance manager who is proficient in financial planning, analysis, control, and decision support; the critical skills required of valuable strategic advisors in any organization.
(ii) Here are some of designations/profiles for CMAs :
a.) Finance and Accounting Managers
b.) Budgeting Managers
c.) Investment Manager
d.) Costing Manager
e.) Payable Manager or Receivable Manager
f.) Portfolio/ Fund Manager
g.) Financial Controllers
i.) Chief Finance Officer
iii.) A CMA’s role is to ensure that the company runs its financial and overall performance in an efficient manner so that the objectives of the respective company are met. They make daily strategic decisions to safeguard their companies’ growth and survival.
In India, opportunities for CMAs are primarily with multinational companies.