CMA Course Details | Duration, Eligibility, Course Types, Fee Structure, Career and Salary

CMA Course Details: Any company that seeks to bridge the skills gap and acquire a competitive edge in the market. It also encourages its employees to earn a CMA certification. For an individual who aspires to make it big in management accounting, CMA certification is a great career move.

Certified Management Accountants are individuals who can convert data into dialogue, bring strategic thinking, and apply work experience. Below is the recorded structure course for aspirants to pursue after twelfth or after graduation.

This report covers the overall topics like prospectus, course gradations, particulars on qualification, the confirmation process, fee structure, and vocation possibilities.

A Brief on Certified Management Accountant (CMA) Course

CMA or Certified Management Accountant is a professional certification credential in the field of financial management and management accounting. CMA certification signifies the importance of an individual’s knowledge in the areas that focus on financial planning, control, professional ethics, decision support, and analysis. A Certified Management Accountant is an individual who possesses an accurate and complete understanding of management accounting principles.

CMA Course Details

Course  CMA
Full-form Certified Management Accountant
Eligibility Criteria Bachelors degree
Duration 6 months
Fee Structure $311 per component for academics/students
$415 per component for professional members
Course Type Certification
Remuneration Structure ₹5-7 Lakhs per annum
Similar Course  CPA
Employment opportunities Chief Financial Officer, Financial Controller, Cost Accountant, Finance Manager, Financial Analyst, and Financial Risk Manager

CMA Certification and Eligibility

To acquire CMA certification, the minimum eligibility criteria for the CMA Certification is a Bachelor’s Degree from an accredited university or an equivalent degree from any discipline in English medium. The aspirants must obtain a minimum aggregate of 45 percent and above aggregate marks.

The aspiring candidate must hold a membership from the IMA- Institute of Management Accountants and must abide by IMA’s Statement of Ethical Professional Practice. The candidate must have two years of relevant experience in the field of management accounting or financial management. To be eligible for the CMA Admission process, the candidate must pass the parts of CMA Exam components.

CMA Course Duration

The overall duration for the CMA course option is flexible, which indicates that the total time taken to complete the CMA program depends on the aspirant’s level of dedication and focus. CMA certification requires a minimum of 6 months. However, the Institute of Management Accountants offers a time duration of a maximum of 3 years, which starts from the date of registration until the completion of the certification.

Eligible candidates can appear for component 1 and component 2 examinations in the following time frame:

  • January or February
  • May or June
  • September or October

CMA Course Fee Structure

The approximate Fee Structure for CMA Certification applicable for both professional members as well as academic members or students is given below:

For Student/Academic Members

  • CMA Certification Entrance Fee is a non-refundable payment of  $188*
  • CMA Certification Exam Fee payment is $311 per component

For Professional Members

  • CMA Certification Entrance Fee is a non-refundable payment of $250*
  • CMA Certification Exam Fee payment is $415 per component

Do Check:

CMA Course Exam Curriculum

CMA Certification comprises of two-component covering 12 competencies.

PART-I comprises of Performance, Financial Planning, and Analytics

  • 15 percent is inclusive of External Financial Reporting Decisions
  • 20 percent is inclusive of Planning, Budgeting, and Forecasting
  • 20 percent is inclusive of Performance Management
  • 15 percent is inclusive of Cost Management
  • 15 percent is inclusive of Internal Controls
  • 15 percent is inclusive of Technology and Analytics

Part-II comprises of Strategic Financial Management

  • 20 percent is inclusive of Financial Statement Analysis
  • 20 percent is inclusive of Corporate Finance
  • 25 percent is inclusive of Decision Analysis
  • 10 percent is inclusive of Risk Management
  • 10 percent is inclusive of Investment Decisions
  • 15 percent is inclusive of Professional Ethics

CMA Certification Skillset

Institutions that offer CMA Certification, train candidates to acquire the following skillset

Practical and Experiential Training

Recruited candidates are trained in Practical and Experiential Training to excel in the below-mentioned skills

  • Exam-oriented content
  • Pieces of training conducted by industrial professionals
  • Mock exam environment
  • Task-based simulations
  • Problem-solving questions
  • After Course Engagement (ACE)

Soft Skill Training

Recruited candidates are trained in Soft skill Training to excel in the below-mentioned skills:

  • Business communication
  • Interpersonal communication
  • Time management
  • Negotiation skills
  • Presentation skills
  • Email and virtual communication
  • Decision-making & problem solving

Market and Exam Ready Environment

Recruited candidates are trained in Exam and Market Ready Environment to excel in the below-mentioned skills:

  • Mock exams access
  • Pass master questions access
  • Customized career guidance
  • Interview skills workshop
  • Resume preparation assistance
  • Career Services

Institutes Offering CMA Certification Course

  • JIBA-Jivkaran Institute of Business Administration, Gujrat
  • SMJC-Sri Medha Junior College, Andhra Pradesh
  • CMES-College of Management and Economics Studies, Uttarakhand
  • ICAT-Image College of Arts Animation and Technology, Tamil Nadu
  • SC-Superwhizz college, Andhara Pradesh
  • NDCB-Nagarjuna Degree College, Bangalore
  • Gandhi Shanti Niketan Mahavidyalaya, Uttar Pradesh
  • AMMDC-Annapurna Memorial Modern Degree College, Andhra Pradesh

CMA Course Career Prospects

CMA Certification offers higher status and credibility in the Accounting Industry. As quoted by the IMA’ CMA certification holders, the reason behind numbers ( the emphasis on WHY) is not just the details ( quoting the WHAT). The emphasis on WHY develops into a crucial skill that aids an individual’s growth to the management level.

CMA Certification opens a plethora of opportunities for individuals in domestic as well as the global market. An individual possessing skilled CMA expertise will experience enhanced accounting, management, and financial skills that will expand an individual’s career potentials and lets him/her shine in her achievements.

CMA Certification provides an individual with the power of decisions making authority in an organization. A CMA certification holder seats among the leaders and business drivers. The certification course also provides international recognition and open doors to vast career opportunities as:

  • Chief Financial Officer
  • Financial Controller
  • Cost Accountant
  • Finance Manager
  • Financial Analyst
  • Financial Risk Manager

Top Recruiters for CMA Certificate Holders

CMA Certificate holders have hired my various mainstream corporates. Below-mentioned is a list of a few corporates that hires CMA Certification holders:

  • IIFL
  • Morning Star
  • Northern Trust
  • IBM
  • Nestle
  • Amazon
  • Walter Bushnell

CPA Certificate Holder Earnings

In India, as a fresher of the CMA Certificate holder, an individual earns around ₹5-7lakhs per annum based on your industry or the corporate company. The average salary an individual receives as a Chief Financial Officer is around ₹4 Million per annum. As an experienced candidate, you can earn better when compared to a fresher.

FAQ’s on CMA Course Details

Question 1.
What is the Eligibility criteria for CMA Certification?

Answer:
To deem eligible for CMA Certification, the aspiring candidate must hold membership in the Institute of Management Accountants (IMA). The candidate must hold a Bachelor’s degree from any discipline from any authorized institution.He/She must have two years of professional experience and expertise in management accounting or financial management. Finally, the candidate must successfully complete Part 1 and Part 2 of the CMA course exam.

Question 2.
What is the difference between a Certificate Management Accountant and Cost Management Accountant?

Answer:
Cost Management Accounting refers to management accounting. This course is designed to help business owners predict their total business expenses. A Certificate Management Accountant certification is a professional credential that prevails through advanced management accounting and financial management fields.

Question 3.
What benefits do CMA certification hold?

Answer:
CMA Certification opens a plethora of opportunities for individuals in domestic as well as the global market. An individual possessing skilled CMA expertise will experience enhanced accounting, management, and financial skills that will expand an individual’s career potentials and lets him/her shine in her achievements.

Summary

We hope that the information mentioned above regarding the CMA course details has helped improve your understanding of the subject with in-depth knowledge.

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