How to Get Your CMA Certification
Earning the Certified Management Accountant (CMA) credential requires passing a rigorous two-part exam, meeting educational and experience requirements, and committing to ongoing professional development. The CMA, administered by the Institute of Management Accountants (IMA), validates expertise in financial planning, analysis, control, and decision support. Here is the path to obtaining your CMA.
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Meet the Eligibility Requirements
Before you can sit for the CMA exam, you must fulfill two core requirements. First, you need a bachelor's degree from an accredited institution or a professional certification such as the CPA, CIA, or CFA. Second, you must have at least two years of continuous professional experience in management accounting or financial management. This experience can be completed before or within seven years of passing the exam.
Pass the CMA Exam
The CMA exam consists of two parts, each scored on a 300-500 scale with a minimum passing score of 360. You can take the parts in any order, but you must pass both within a three-year window.
- Part 1: Financial Planning, Performance, and Analytics (covering external financial reporting, planning, budgeting, cost management, and internal controls).
- Part 2: Strategic Financial Management (covering financial statement analysis, corporate finance, decision analysis, risk management, and investment decisions).
Maintain Your Certification
Once you earn the CMA, you must complete 30 hours of continuing professional education (CPE) annually, with a minimum of two hours in ethics. The IMA also requires annual membership renewal to keep the credential active.