CMA USA Course 2024: Dates, Syllabus, Eligibility & Fees

The Certified Management Accountant (CMA) USA Course is a professional financial accounting certification program offered by the Institute of Management Accountants (IMA). 

The CMA USA course is a globally recognised certification for management accountants, offering extensive career opportunities in finance and accounting. If you’re considering this certification, here are some key CMA USA course details to help you get started. 

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The CMA USA course fees vary depending on whether you’re a student or a professional, typically ranging from USD 1,000 to USD 2,500, including exam and membership fees.

Many giants like EY,  KPMG, and PwC keep opening various job opportunities for CMA professionals in the USA. Moreover, the US Bureau of Labor Statistics has also highlighted the growing demand for jobs in business and finance. 

What’s another catch? The CMA USA course is unique because it’s all about management accounting. Unlike other accounting certifications focusing on financial accounting or auditing, CMAs focus on specific skills like cost management, budgeting, performance evaluation, and strategic financial planning. Because of these skills, employers like hiring certified CMAs. 

CMA USA Course Details:

Now that we have reviewed the basic overview of the CMA USA course, let’s explore it in more detail. 

What is the CMA USA Course?

The CMA USA Course, also known as the Certified Management Accountant program, is a highly professional qualification in management accounting. 

It is offered by the Institute of Management Accountants (IMA), a worldwide association for accounting and finance professionals headquartered in the USA. 

This course is highly recognised worldwide and brings ample opportunities to work in the diverse field of financial accounting. 

Why Opt For the CMA USA Course? 

As the markets become more competitive, it has become essential for businesses to consider their financial matters. Companies in the USA and abroad are looking for certified professionals to manage their finances, help them make the right decisions, and be profitable. 

This is the main benefit of opting for a CMA USA course. But that’s not all. 

There are many benefits when you opt for CMA certification in the USA: 

• Better salary: Many global companies are spread across major cities like New York, Boston, Seattle & San Francisco. The average salary is around INR 67,00,000 (USD 80,000). 
• Success rates: The success rate of the CMA course is 45 – 50% compared to India, which is around 15 – 20%. 
• Short duration: The CMA USA course can be completed within 1-3 years, less than that of other nationalities. 
• Work in other countries: You can work in any country as a certified CMA of IMA, as it is recognised globally. 
• Career opportunities: You can apply for diverse job roles, such as accountant, budget analyst, financial analyst, auditor, and even chief financial officer. 

When combining all the above aspects, choosing a CMA course in the USA becomes a sound career choice. 

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CMA USA Course: Eligibility Criteria

The Certified Management Accountant (CMA) certification is a prestigious program that demonstrates your proficiency in business finance management. However, it’s crucial to understand the Institute of Management Accountants (IMA) requirements before embarking on this journey.

You need a bachelor’s degree and two years of relevant work experience to meet the US CMA eligibility requirements. The US CMA fees structure 2024 includes registration, membership, and exam fees, with the US CMA registration fees of around USD 450.

These criteria are like checkpoints on your way to becoming a CMA: 

Note: If you are pursuing a bachelor’s degree, you can also take the CMA examination. However, it would help if you cleared your bachelor’s before going on to the last level of the CMA exam, which is getting certification from the organisation. So, you can opt for a full-time bachelor’s course and get a student visa to enter the USA. 

CMA USA Course: Fees 

The Institute of Management Accountants (IMA) charges different fees for professionals and students interested in pursuing the Certified Management Accountant (CMA) designation. 

The table below breaks down the CMA USA course fees, giving you a clear picture to help you plan your journey toward earning this esteemed certification. 

Note: IMA updates the CMA USA course fee periodically. This data was collected in April 2024.

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CMA USA Course: Syllabus

The US CMA syllabus covers financial planning, analysis, control, and decision support, with central CMA USA subjects focusing on management accounting. The CMA USA course prepares you for a two-part exam that tests your knowledge of financial management. It covers the financial side (like income statements and balance sheets) and the management side (like budgeting and planning for the future). This section will explain exactly what you’ll learn to crack the exam. 

Part 1: 

Part 1 of the CMA USA course focuses on external financial reporting decisions and management accounting techniques, covering financial statements, budgeting, performance management, cost management, internal controls, and technology integration.

Here is a topic-wise breakdown of the Part 1 syllabus and its weightage. 

Now let us discuss in detail what each of the above competencies of the CMA USA course covers:

1. External Financial Reporting Decisions: Financial Statement, Recognition, Measurement, Valuation, And Disclosure

2. Planning, Budgeting, And Forecasting: Strategic Planning; Budgeting Concepts, Forecasting Techniques, Budgeting Methodologies, Annual Profit Plan And Supporting Schedules, Top-Level Planning And Analysis

3. Performance Management: Cost And Variance Measures, Responsibility Centres And Reporting Segments; Performance Measures

4. Cost Management: Measurement Concepts, Costing Systems, Overhead Costs, Supply Chain Management, Business Process Improvement

5. Internal Controls: Governance, Risk, And Compliance; System Controls And Security Measures

6. Technology And Analytics: Information Systems, Data Governance, Technology-Enabled Finance Transformation, Data Analytics

Part 2

Part 2 of the CMA USA course exam explores advanced financial analysis, corporate finance, decision-making, risk management, investment evaluation, and professional ethics, testing candidates’ skills in these critical areas.

Here is a topic-wise breakdown of the syllabus along with its weightage. 

Now let us discuss in detail what each of the above competencies covers:

1. Financial Statement Analysis: Basic Financial Statement Analysis, Financial Ratios, Profitability Analysis, Special Issues

2. Corporate Finance: Risk And Return, Long-Term Financial Management, Raising Capital, Working Capital Management, Corporate Restructuring, International Finance

3. Decision Analysis: Cost/Volume/Profit Analysis, Marginal Analysis, Pricing

4. Risk Management: Enterprise Risk

5. Investment Decisions: Capital Budgeting Process, Capital Investment Analysis Methods

6. Professional Ethics: Business Ethics, Ethical Considerations For Management Accounting And Financial Management Professionals, Ethical Considerations For The Organisation

(Source: IMA Website)

Understanding the CMA exam syllabus helps you focus on suitable topics, plan your study efficiently, and feel confident for the test. It’s like having a map that guides you to prioritise what matters most and boosts your chances of doing well.

Also Read: Average Cost of Living in the USA

CMA USA Exam Dates: Testing Window

The CMA USA exam dates 2024 are offered in three windows: January-February, May-June, and September-October. The US CMA course duration usually takes 6-9 months, depending on your pace.

The CMA USA exam offers testing opportunities during specific windows each year. This flexible scheduling will allow you to choose exam dates that align with your goals. 

Here is the schedule of the upcoming exam dates for the year 2024-25: 

Knowing the CMA USA course exam dates helps you organise your study plan, giving you ample time to prepare before the exam window. This way, you can balance your studies with other obligations, reducing stress and boosting your confidence for the big day. 

How To Apply For CMA in the USA?

Starting your journey towards a Certified Management Accountant (CMA) qualification in the USA can lead to promising career paths in management accounting and financial management. 

Below, we have outlined the stepwise process to apply for the CMA USA course: 

• Visit the IMA website.
• Move to the top menu and click on the ‘certification’ option. A drop-down menu will appear.
• Click on the ‘Enroll in the CMA’ option in the menu. 
• A page will open. Scroll a bit down and click on the “Enroll now” button.
• You will be redirected to a page where you must ‘Register’ for the IMA. 
• After registering, you must opt for an IMA membership (the instructions will be given on your screen). 
• Once you’re a member, you can enrol as a CMA candidate with the step-by-step assistance provided on the website.
• Decide whether to take the CMA Part 1 or Part 2 first. 
• Pay the exam fees. 

Note: The IMA website allows you to register for the exams directly within your member account. After enrolling as a CMA candidate, look for the exam registration section.

How To Prepare For CMA in the USA?

Before you jump into the preparation process, invest some time in understanding the syllabus. Then make a routine and follow the below tips consistently to crack the exam:

• Planning: Devote at least 12 hours weekly and set smart goals to maintain concentration. 
• Resources: Use IMA materials, review courses, and textbooks to prepare well. 
• Active Learning: While attending sessions, take thorough notes, solve practice questions, and consider joining a study group for interactive learning.
• Exam Preparation: Simulate exam scenarios, manage study time efficiently, and prioritise personal well-being.

Additional Tip: To improve your preparation, seek support from peers or mentors and stay informed about any updates to the CMA exam syllabus.

CMA USA Course: Career Opportunities 

Getting your CMA certification in the USA opens doors to many great jobs in different industries. This respected certification shows you’re good at managing money, making you a top choice for many job titles. 

Some of the best profiles you can opt for after becoming a CMA are: 

Source: Glassdoor

Also Check: City Wise Average Salary for CMA in the USA

Top Recruiters for CMA in the USA

• EY
• KPMG
• Deloitte 
• PWC
• Amazon
• Bain& Co
• JP Morgan
• BCG
• Bank of America 
• Boeing

Depending on your interest, you can choose any of the above profiles and explore the job opportunities from many companies in the USA and abroad. 

Suggested Read:

• Average Salary in USA for 2024: The Best Guide
• Study CMA in Canada

To Conclude

The CMA USA course by the IMA is very valuable in growth and career. You can begin your professional career right after cracking this exam and landing your desired job in a good organisation. 

Once you have decided, nothing can stop you from becoming a CMA in the USA. So what are you waiting for? Talk to our counsellors for professional guidance on kickstarting your journey.

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