Cma Certification Essay

627 WordsSep 29, 20123 Pages
CMA Certification To the Institute of Management Accountants (IMA), becoming a Certified Management Account is essential to the business field. The Certified Management Accountants (CMA) are credentials for financial managers and management accountants. The CMA certification was designed by the IMA’s to demonstrate an individual’s ability and expertise in financial planning, analysis, and professional ethics etc. (Institute of Management Accountants, 2012). It was also designed to meet the increasing demands of a business. To become a Certified Management Accountant there are many requirements. The first requirement is to become a member of the IMA. To become an IMA member an individual completes an application and sends in the required fee, which depends on the membership type. After paying the IMA membership, the second requirement is to pay the entrance fee into the CMA program. The entrance fee is $75 for students and $225 for professionals. After the entrance fee has been paid, candidates have three years to complete the program and 12 months to register for the exam; otherwise repayment of the entrance fee will have to be repaid (CMA, 2009). Education and experience are another requirement to be eligible for the CMA certification. A candidate must possess a bachelor’s degree from an accredited college or University (CMA, 2009). A candidate must also complete two continuous years of professional experience in management accounting and/or financial management (CMA, 2009). This experience can be completed within seven years after the examination. All candidates must also pass the required examination parts to become CMA certified. The CMA exam is a two-part examination, which tests the candidate’s critical skills and knowledge involved in planning, analysis, control and decision support (CMA, 2009). The exam can cost between $125 to $350, depending on student

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