The US CMA Certification Can Help You Advance In Your Management Career. 'Certified Management Accountant' is the abbreviation for 'Certified Management Accountant.' The IMA (Institute for Management Accountants) administers the CMA, which is one of the top management accounting qualifications in the world. CMA's curriculum, which is spread out over just two tests, employs some of the most advanced testing procedures to determine if management accounting hopefuls from all over the world are deserving of the title CPA. Every year, thousands of people study for the CMA test in the United States in order to become management accountants, finance analysts, and other positions.
Why Get a USCMA Certification?
Consider the following benefits of investing in a CMA certification.
Earn a high Salary: Accountants with a CMA designation tend to make more money than accountants without a CMA designation. According to the 2021 IMA survey, median CMA compensation was 58% higher than non-CMA.
Prominent: CMA certification is one of the highest awards a managed accountant can earn. Many consider it a professional standard for management accounting. Obtaining a CMA proves that you are an accounting and financial management expert and gives you an edge in job hunting.
Creating Global Recognition: The CMA designation enjoys global recognition. CMA is valuable to accountants who want to work abroad because they can leverage their knowledge and skills outside the United States.
CMA USA - Benefits 2024
- One of the most significant advantages of obtaining a CMA USA is the opportunity for job advancement. CMA certification is sought by a number of mid- and senior-level professionals who want to gain experience in the fields of finance, management, accounting, and business.
- CMA USA is a global professional certification that is recognized by nations like as China, India, the United Kingdom, Canada, and the Middle East. It provides an opportunity to settle and work in a foreign country while also learning about global business practices and principles.
- Increased financial success: CMA is a profitable option that may result in massive financial gains. In the United States, 58 percent of candidates with a CMA certificate perceive a boost in their income and perks, while internationally, 37 percent of candidates between the ages of 20 and 29 profit from CMA.
- Another benefit of enrolling in CMA USA is that it may be finished in as little as 12 to 18 months. The CMA test is held three times a year, allowing students plenty of chances to complete their course on time: in January and February, May and June, and September and October.
- CMA is a flexible certification that is available to applicants with a wide range of specializations. This course is open to candidates with a minimum of two years of work experience and a bachelor's degree in engineering, business administration, economics, accounting, or finance.
The CMA designation in the United States is extremely valuable since it opens doors to new career opportunities 2024:
- Career Avenues
- International Recognition
- Global Qualification
- In-depth knowledge about Management Accounting, Finance, Business Economics and Management concepts required for a business professional
- Elite Network of CPAs
- Elite Network of CMAs
What are the career opportunities with the USCMA? 2024
Every other sector requires CMAs because of the extensive demand for management accountants. The following are some of the key sectors that use CMAs in India and throughout the world:
- Consulting Services
- E-commerce
- Financial Planning
- Accounting
- Taxation
- IT &ES
- Non-Profit Organizations
- Business Valuation and Many more
USCMA - Jobs & Average Salaries 2024
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Job Profiles
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Average Salaries
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Senior Analyst
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₹7,50,000
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Finance Manager
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₹14,00,000
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Budget Analyst
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₹12,00,000
|
|
Treasurer
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₹8,90,000
|
|
Finance Controller
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₹19,00,000
|
|
Internal Auditor
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₹3,00,000 – ₹8,00,000
|
|
Financial Analyst
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₹5,00,000
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Cost Accountant
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₹5,00,000 – ₹6,00,000
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Management Trainee
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₹6,70,000
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CMA India vs CMA US 2024
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Point of Difference
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US CMA
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CMA - India
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ACADEMIC FOCUS
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Management Accountancy
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Cost Accountancy
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BOARD
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Institute for Management Accountants
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Institute of Cost Management Accountants of India- ICMAI (formerly ICWAI)
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PASSING CRITERIA
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Minimum of 360 marks out of 500
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40% for individual papers and 50% aggregate
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ARTICLESHIP
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Not required
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15 months
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DURATION
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8 months
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3 years
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PAPERS
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2 Papers
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20 Papers (3 Levels - foundation (4), intermediate (8) and final (8))
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LEVELS OF TOUGHNESS
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Single level
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3
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RECOGNITION
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Globally
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India
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USCMA Course Duration 2024
The US CMA certificate can be completed in a minimum of 6 months to a maximum of 3 years, depending on the aspirant's plan and study schedule. According to the IMA's criteria, a candidate must finish the exams within three years of registering.
Eligibility for the USCMA Course 2024
- IMA, the world's biggest management accounting organization, administers the US CMA Exams. All candidates who pass both CMA exams are eligible for membership in the IMA.
- In order to sit for the CMA examinations in the United States, you must have completed your 12th grade in India (or an associate's degree outside of India).
- To be eligible for a CMA, you must have completed high school.
- Aspirants seeking a degree are also eligible for the CMA credential in the United States.
USCMA – Syllabus and Weightage 2024
Now that you're familiar with the fundamentals of the course, let's look at the USCMA syllabus for Part 1 and Part 2 using the tables below:
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Part 1: Financial Planning, Performance and Analytics
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Weightage
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Technology and Analysis
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15%
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Internal Controls
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15%
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Cost Management
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15%
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|
Performance Management
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20%
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Planning, Budgeting and Forecasting
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20%
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External Financial Reporting Decisions
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15%
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Part 2: Strategic Financial Management
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Weightage
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Financial Statement Analysis
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20%
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Corporate Finance
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20%
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Decision Analysis
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25%
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Risk Management
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10%
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Investment Decisions
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10%
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Professional Ethics
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15%
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US CMA Exam Tips 2024
Before you start studying for the USCMA exam, there are a few things you should bear in mind. The USCMA Exam Support package, which contains a selection of practice and previous year's questions, is available to those who register for the exam. Candidates should also study for at least 150-170 hours each level or component, for a total of 300 hours. Here are a few key facts to remember about the CMA exam:
- Candidates may attempt parts 1 and 2 in any order they want. The testing window is only open during the months of January/February, May/June, and September/October.
- The registration for the exam is only good for one exam window.
- The result will be sent to you through e-mail about 6 weeks after the end of the month in which you took the exam.
- After 14 days after receiving the results, the applicants will receive a performance report.
Exam Pattern and Passing Score for USCMA 2024
Multiple-Choice Questions (MCQs) and Essay type questions make up the US CMA exam design. Part 1 and Part 2 are four-hour examinations with around 100 multiple-choice questions and two essay questions each. Candidates will have three hours to complete the MCQs and one hour to complete the essay questions.
- 75% of the Examination consists of MCQs (Multiple Choice Questions)
- 25% of the Examination consists of Essay Questions
The CMA exams in the United States are evaluated on a scale of 500 points, with a minimum score of 360 required to pass. The pattern is the same in both parts.
Steps to crack USCMA exam in 1st attempt 2024
The following are some tips to help you pass the CMA test on your first attempt:
- Read the curriculum from beginning to end.
- Determine your strengths and shortcomings so that you can design a strategy to address them.
- Make a timetable on a piece of paper.
- Make it a habit to practice questions on a regular basis.
- Complete a number of practice papers.
- Make sure your ideas are clear.
- Review information on a frequent basis to ensure that it is retained for a longer amount of time.
US CMA Testing Windows 2024
Every year, the IMA organizes three testing periods in India and throughout the world for the US CMA exam. The following are the testing windows
- January – February
- May – June
- September – October
US CMA Important Dates for Registration 2024
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CMA Testing Window
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First Exam Date
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Last Exam Date
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Last Date to Register
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January/February
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Jan. 1, 2024
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Feb. 28, 2024
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Feb. 15, 2024
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May/June
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May 1, 2024
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June 30, 2024
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June 15, 2024
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September/October
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Sept. 1, 2024
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Oct. 31, 2024
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Oct. 15, 2024
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US CMA Fees Details 2024
The cost of the CMA of the United States of America course varies depending on the aspirant's position; any aspirant who is not enrolled in any course is considered as a professional. The following are the various costs associated with this course.
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Student
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Professional
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IMA Membership Fee
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$45
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$260
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Entrance Fee
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$210
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$280
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Exam Fee (Part-1)
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$345
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$460
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Total (Part-1 & 2)
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$945
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$1460
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