CMA Awareness
Athens State University
Student Chapter IMA
Stacie Hughes, CPA, CMA, CFM
What is the CMA?

Certified Management Accountant designation
granted by the ICMA (administered by IMA)

Must pass two-part exam and meet education
and experience requirements

CMA’s generally provide services to employers
rather than to the public
CMA – CPA Comparison
CMA
Credentials:
 International
recognition
 Targeted to corporate
financial professionals
 Broad-based, industryrelated content
CPA
Designation:
 Limited to U.S.; a state
designation
 Targeted to public
accounting
 Content for public practice
CMA – CPA Comparison
CMA
Knowledge-Based Professional
 Preparer/User of accounting
information
 Concept based
 “Inside” corporate
professionals
 Higher quality, lower costs


Forward-looking
Player

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CPA
Skills-Based Professional
Auditor of accounting
information
Rule based
Public practice licensure
Attesting to the accuracy
of financial records
Historical
Referee
CMA – CPA Comparison



CMA
Appropriate for a career in
managerial finance and
accounting professionals inside
organizations.
Over 80% of accounting
professionals in U.S. work
inside organizations.
Focus on decision support,
planning, and control over the
organization’s value-creating
operations.

CPA
Appropriate for a career in
public accounting
Why the CMA?

Expanded career options and greater earning
potential
–

IMA’s 20th Annual Salary Survey found that CMA-certified
professionals earned 24% more in salary and 31% more
in total compensation than those without certification
(Strategic Finance magazine, June 2009)
Demonstrate substantial knowledge
–
Required to pass rigorous exam to obtain CMA. Passing
the exam demonstrates the ability to work across the
breadth and depth of the entire accounting process within
organizations.
Why the CMA?

Professional development and lifelong learning
–

Maintain professional competence through annual
continuing professional education (30 hours with at least
2 in ethics)
Committed to a code of ethics
–
–
Must comply with the IMA Statement of Ethical
Professional Practice
Maintain 2 hours of ethics education per year
Why the CMA?

Competitive Advantage
–
–
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Companies can identify motivated professionals for hiring,
recognition, and advancement.
Companies such as 3M, Boeing, DaimlerChrysler, GE,
Hewlett-Packard, and IBM specifically search for
individuals with the CMA certification to help improve
company performance.
Multi-national corporations are incorporating the CMA
certification as part of their professional development
programs for employees
Who are CMAs?


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
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
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CFO, Foundations Behavioral Health
CFO/Treasurer, First Savings Bank
Director of Finance & Accounting, Marriott
International
Director of Technical Accounting & Reporting,
Microsoft
Finance Manager, Habitat for Humanity
Financial Controller, Johnson & Johnson
VP of Finance, Southeast Corporate Federal
Credit Union
CMA Certification Requirements




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Membership in the IMA
Payment of Entrance Fee
Satisfaction of Education Qualification
Satisfaction of Experience Qualification
Passing scores for all required examination
parts
Compliance with the IMA Statement of
Ethical Professional Practice
Examination Fees

Certification Entrance Fee
–

Student Entrance Fee
Examination Fee Per Part

–
$75
$350
$300 per part if taken in same window
Student Exam Fee Per Part

$200
One-time 50% discount
$175
Education Qualification
Must have a Bachelors Degree,
in any area, from an accredited
college or university.
Experience Qualification

Two continuous years of professional experience
in management accounting, financial
management, public accounting, or academia

Experience may be completed prior to application
or within seven years of passing the examination.

Qualifying experience examples: financial
analysis, budget preparation, MIS analysis,
auditing, teaching, research, etc.
CMA Exam – Part 1

Financial Planning, Performance, and Control
(4 hours – 100 multiple choice questions and
two 30-minute essay questions)
–
Planning, Budgeting and Forecasting 30%
–
Performance Management
25%
–
Cost Management
25%
–
Internal Controls
15%
–
Professional Ethics
5%
CMA Exam – Part 2

Financial Decision Making
(4 hours – 100 multiple choice questions
and two 30-minute essay questions)
–
Financial Statement Analysis
25%
–
Corporate Finance
25%
–
Decision Analysis and Risk Management
25%
–
Investment Decisions
20%
–
Professional Ethics
5%
Other CMA Exam Info

Passing score is 72%

You have 3 years from the date of entry into
the program

Computer-based tests given at Prometric
Testing Centers

Parts 1 and 2 will be given during three testing
windows: January/February, May/June, and
September/October
Prometric Screen Shot
Performance Review

Score Reports
–

Detail of Performance Report
–
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Sent to anyone who does not pass the multiple choice portions of
parts 1or 2. Measures your performance by each major topic area on
the exam.
Advanced Performance Report
–

Scores will be mailed approximately 6-8 weeks after the end of the
month in which you took the test
Includes performance on subtopics in addition to the major topic
areas. Must specifically request Advanced Report
Exam Retake Policy
–
In order to retake, must register and repay the full exam fee
IMA Study Resources

CMA Exam Support Package
–
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CMA Q&A Publications
–

Included in the Certification Entrance Fee. Included in this package
are downloadable and printable Q&A books, 1,000 recently retired
questions, and an online assessment tool with multiple choice
exams and sample essay questions.
Books of “retired” questions
IMA’s CMA Learning System
–
–
Comprehensive student textbooks and online
prep tools.
www.learncma.com
Gleim CMA Review
 Books
 Audio
CD lectures
 Test prep CD-roms
 Online Course (money back guarantee)
 www.gleim.com
Gleim – Create Study Session
Gleim–Test Prep Study Session
Gleim – Test Prep Preferences
Gleim – Online Updates
Convenient updates, delivered electronically to
your computer.
For Additional Information
IMA
www.imanet.org
1-800-638-4427
Gleim Website
www.gleim.com
Stacie Hughes, CPA, CMA, CFM
stacie.hughes@athens.edu