Study CMA in Canada: Eligibility, Fees & Process for Indian Students

CMA (Certified Management Accountant) is a designation that holds huge significance in the corporate accounting world. An individual in this designation is responsible for accreditation and standard settings through territorial and provincial affiliates. Further, studying CMA in Canada is highly feasible and happens in two phases, i.e. development and application. Not all accounting works come with designation, but an individual with a CMA certificate can work globally in organisations of all types and sizes.  

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Top Universities to study CMA in Canada

John Molson School of Business

Entry requirements for the course are as follows –

• Applicants must possess a higher secondary completion certificate from a school of Indian origin. 
• Candidates must have an average score of 2.70 CGPA in mathematics.
• They must have completed courses in –
  • Linear Algebra
  • Calculus 1
  • Microeconomics
  • Macroeconomics
  • Fundamentals of Information Technology
  • Financial Accounting
  • Managerial Accounting

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McGill University

Entry requirements for the course are as follows –

• Applicants must hold a graduation completion certificate in the field of commerce.
• In the case of a Bachelor of Commerce degree, they must score at least 3 on CGPA.

Odette School of Business

Entry requirements for the course are as follows –

• Applicants must hold a Bachelor’s degree completion certificate from a certified university.
• They must pass the previous degree exam with an average of 67% in any discipline along with the business.

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University of Lethbridge

Entry requirements for the course are as follows –

• Applicants must hold a Bachelor’s degree completion certificate in a related field of accounting.
• With a minimum score of 75% in the last 20 graded term courses at the university level, the candidate is eligible to apply.
• Applicants must complete a 4 year Bachelor’s degree or three years Bachelor’s degree, and a 1 year Master’s degree with a first-class score of 4 out of a possible 5.

Rotman School of Management

Entry requirements for the course are as follows –

• Applicants holding a Bachelor’s degree from a certified university are eligible to apply.
• The candidates must have an average score in a final-year degree equivalent to the University of Toronto.
• Must have a Bachelor’s degree in any discipline along with business and with a minimum course duration of 4 years.
• In the case of a 3 year Bachelor’s degree, candidates have to complete 1 year Master’s to become eligible.

CMA Courses offered in Canada

CMA course is divided into three parts, with the intermediate and final courses divided into two groups. Read on to know more about the courses offered.

Foundation Course –

• Fundamentals of Accounting
• Fundamentals of Economics And Management
• Fundamentals of Business Mathematics and Statistics
• Fundamentals of Laws and Ethics

Intermediate Course –

This course is divided into two groups. Group1 consists of –

• Financial Accounting
• Laws and Ethics
• Direct Taxation
• Cost Accounting

Group 2 consists of –

• Operations Management & Strategic Management
• Indirect Taxation
• Cost & Management Accounting and Financial Management
• Company Accounts & Audit

 Final Course –

The final course is also divided into two groups.Group 1 consists of –

• Corporate Laws & Compliance
• Strategic Financial Management
• Direct Tax Laws and International Taxation
• Strategic Cost Management – Decision Making

Group 2 consists of –

• Indirect Tax Laws and Practice
• Corporate Financial Reporting
• Strategic Performance Management and Business Valuation
• Cost and Management Audit

To become eligible to enrol in a CMA program, applicants have to undertake the CMA exam.

CMA in Canada Entrance Exam structure

The CMA exam is taken in two parts covering 12 topics to garner an individual’s expertise in accounting and management. They are as follows –

Part 1 – Financial Planning, Performance and Analytics

• External Financial Reporting Decisions
• Planning, Budgeting, and Forecasting
• Performance Management
• Internal Controls
• Cost Management
• Technology and Analytics

Part 2: Strategic Financial Management

• Financial Statement Analysis
• Corporate Finance
• Decision Analysis
• Risk Management
• Investment Decisions
• Professional Ethics

In Canada, a CMA holds a significant designation and is considered one of the most respected job roles. An individual needs to pass the corresponding exam to study for CMA in Canada. Further, upon gaining success in this entrance exam, they open many new prospects around the world. It also prepares them with knowledge and expertise to handle demands and crunch situations in this ever-changing corporate world.