The CMA Program
IMA St. Louis Chapter
March 9th, 2010
Outline
1.
2.
3.
4.
5.
6.
7.
8.
9.
CMA Credential
CMA Certification Eligibility
New CMA exam format announcement
Details of the new CMA exam structure &
implementation
Exam formant difference current vs. new
New program benefits
Current CMA candidates exam options
Transition Exam (Part T)
St. Louis IMA Chapter Study Materials Discounts &
Chapter Website info
The Essential Credential
for Accountants and Financial Professionals
The CMA (Certified Management Accountant) is the advanced professional
certification specifically designed to measure the accounting and financial
management skills that drive business performance. Achieving the CMA
credential demonstrates your mastery of financial planning, analysis, control,
and decision support, as well as professional ethics.
The CMA credential is...
・ Focused—On the critical skills you use in business.
・ Respected—Leading employers seek to hire and promote CMAs.
・ Valued—CMAs earn higher compensation than non-certified professionals.
・ Convenient—CMA Exams are offered electronically in hundreds of locations
worldwide.
Eligibility Criteria
To be eligible for CMA certification, you must fulfill all of the following requirements:

Membership in the Institute of Management Accountants

Paying the Entrance Fee

Satisfying the Education Qualification - Bachelors degree from an
accredited college or university (in any major) with assumed
knowledge in economics, basic statistics, financial accounting

Satisfying the Experience Qualification - 2 years of relevant work
experience

Passing scores for all required examination parts

Compliance with the IMA Statement of Ethical Professional
Practice
ICMA updates CMA exam format
To ensure that the CMA remains the most appropriate designation for
accountants and financial professionals in business, the Institute of
Certified Management Accountants (ICMA) announced a change to the
format and curriculum of the CMA exam program
Important Timeline
•
December 1, 2009
New Program
Announcement
•
Spring 2010
•
May 1, 2010
New Exam Available for Testing
•
December 31, 2010
Completion Deadline for Current Program
Registration Opens For New Program
New Program Benefits

Focused on critical subject matter:



Highly Relevant to marketplace needs
Advanced level of certification



Financial planning, analysis, control, and
decision support
Maintains rigor and integrity
Convenient for time-sensitive candidate
Differentiated from other certifications

Focused on the essential body of knowledge for accounting and
financial professionals working within organizations
Note: CMA Exam marketing expenditures are increasing this year
New Two-part Exam Format
Part 1 – Financial Planning, Performance and Control
Planning, budgeting and forecasting (30%)
Performance measurement (25%)
Cost management (25%)
Internal Controls (15%)
Professional Ethics (5%)
Part 2 – Financial Decision Making
Financial statement analysis (25%)
Corporate finance (25%)
Risk management and decision analysis (25%)
Investment decisions (20%)
Professional Ethics (5%)
1.
2.
3.
4.
5.
Each exam part is four hours long: - 3 hours multiple choice and 1 hour essay
Exam parts can be taken in any order (and on the same day if desired)
All topics tested up to “C” level competence - ability to synthesize and make
recommendations
Must score at least a 50% on the multiple-choice section of the exam to be
eligible to take essay section.
No immediate result provided; grades mailed several weeks after close of
testing window
New Exam Timing, Test Windows, Delivery

New exam registration begins Spring of 2010 – testing
window start May/June 2010

3 exam windows of 2-month duration per year
(similar to exam windows for current multiple choice exams)



January/February
May/June
September/October

3 years to complete the exams from date of program
enrollment. Must take at least 1 exam part within 1 year
from enrollment

Exams will continue to be administered by computer at
Prometric testing centers
Key Differences
Current CMA Structure







4 parts, 13 hours
Part 4 capstone: 3 hours of
essay
Broad subject matter
Some topics up to C level
4 years to complete
No time requirement to take
exams
Waiver for part 1
New CMA Structure







2 parts, 8 hours
2 hours of essay, 1 hour in each
part
Focused subject matter
All topics up to C level
3 years to complete
Must take 1 exam part in first year
No waivers
Will exam fees change?
Current CMA Testing Fee
Professional
Student/
Academic
Entrance Fee
200
75
Part 1
190
Part 2
New CMA Testing Fee
Professional
Student/
Academic
Entrance Fee
200
75
95
Part 1
350
175
190
95
Part 2
350
175
Part 3
190
95
Total – 2 sittings
900
425
Part 4
190
95
1 sitting credit
(100)
(50)
Total
960
455
Total - 1 sitting
800
375
Current Exam Timing ,Test Windows, Delivery

Current exam entrance ends February 28, 2010

Registration for exam parts in the current program ends
September 30, 2010 for parts 1, 2 and 3, and ends
December 15, 2010 for part 4

All of the current CMA examination parts (Parts 1, 2, 3 & 4)
will be available at Prometric Testing Centers until
December 31, 2010

Automatic transfer to new program if you do not pass all
four examination parts of the current CMA program by the
deadline
Options for Current CMA Candidates
Current candidates may complete remaining exam parts
in the existing program by 12/31/2010 or transition to
the new program at any time in 2010
Current Exam Parts Passed
Parts Remaining in New Program
Part 1-Business Analysis
Part 1-Financial Planning, Performance
& Control and
Part 2-Financial Decision Making
Part 2-Management Accounting &
Reporting
Part 2-Financial Decision Making
Part 3-Strategic Management
Part 1-Financial Planning, Performance
& Control
Part 2-Management Accounting &
Reporting, and
Part 3-Strategic Management
Part T-Transition exam
Part T -Transition Exam





For candidates who have passed current parts 2, 3
and/or 1
Two hours in length, four 30 minute essay on subject
matter outlined in new parts 1 and 2
Available starting May/June 2010 testing window until
February 28, 2013 (due date for passing)
Cost $225
May take Part T up to three times per year until due
date
St. Louis IMA Chapter Discounts

Contact Chapter Coordinator Melissa Leonard :
Phone : (800) 874-5346, ext.131
Fax : (888)375-6940
Email: melissa.leonard@gleim.com

Chapter members receive a 20-32%
discount

Apply promotional code IMASTL

Chapter members receive 10%
discount
St. Louis IMA Chapter Website

Check website for CMA program info -http://stlouis.imanet.org