What is US CMA Course? Frequently asked questions on US CMA |FY 2023
Introduction
What is US CMA Course? US Certified Management Accountant (CMA) or US CMA course is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics.
The CMA is a US based, globally recognized certification offered by the Institute of Management Accountants (IMA US). IMA US has a legacy of more than 100 years and as on date the membership of US CMA certified candidates is more than 1,40,000 across 150+ countries.
A. US CMA Course- At a Glance:
1 US CMA course is a worldwide demanded qualification in Finance.
2 The US CMA course has just 2 parts.
3. US CMA exams can be cleared in 7 to 9 months time.
4. Exams are conducted online at the prometric centers.
5. Typically, the US CMA exams have 75% of the questions as MCQs (objective type) and the rests are Essay questions.
6. Pass percentage of US CMA course is globally near-about 50%,
7. US CMA course helps professionals to build a career across the globe.
8. A US CMA is respected worldwide to be the decision maker in the industry and formulate robust finance and accounting strategies.
B. US CMA Course Eligibility
1. The minimum eligibility for enrollment for the US CMA course is 12th standard pass out. However, to obtain the certificate, one has to be a graduate from an accredited Institution.
2. Furthermore, to obtain the US CMA course certificate, one has to meet up the below criteria.
3. Should have cleared both the parts of US CMA Course Exam
4. Has to be a Member of IMA.
5. Should possess two years of appropriate work experience.
C. US CMA Course Syllabus
US CMA course involve 2 part examination consists of following topics.
C.1 US CMA course Part 1 examination
a. External Financial Reporting Decisions
b. Planning, Budgeting, and Forecasting
c. Performance Management
d. Cost Management
e. Internal Controls
C2. US CMA course Part 2 examination
a. Financial Statement Analysis
b. Corporate Finance
c. Decision Analysis
d. Risk Management
e. Investment Decisions
f. Professional Ethics
The Topic wise weightage of US CMA Syllabus
For Part 1 :- External Financial Reporting Decisions(15%), Planning, Budgeting, Forecasting(20%), Performance Management(20%), Cost Management(15%), Internal Controls(15%) and Technology and Analytics(15%) respectively.
For Part 2:- Financial Statement Analysis(20%), Corporate Finance(20%), Decision Analysis(25%), Risk Management(10%), Investment Decisions(10%), Professional Ethics(15%).
US CMA Course details – US CMA Certification from IMA USA: Syllabus, Eligibility, Duration, Fees, Books and Coaching :- What is US CMA Course ? To understand the detailed overview on the US CMA course and US CMA certification from IMA…continue reading
D. US CMA Course Duration
One has to clear both the exam parts within 3 years of IMA registration. However, with proper guidance and study support, it can be cleared within a year.
E. US CMA Course Exam
a. The duration of each exam is 4 hours.
b. The exam consist of 100 multiple choice questions, followed by 2 essay scenarios.
c. US CMA is an online exam administered through various Prometric centers in India and abroad.
There are 3 following exam testing windows offered per annum
a. January-February
b. May-June
c. September- October
F. US CMA Course Fees
The US CMA membership, entrance and exam fees for various categories are provided in the tables below.
The IMA has announced that some CMA program fees will increase starting March 1, 2022. In short, the increased fees will help offset some of the IMA’s increased expenses related to improved member services and technology upgrades. For example, the IMA has added new CPE courses and webinars available to IMA members for no additional cost.
G. US CMA Course- Job Opportunities
US CMA is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, Deloitte and so on for the managerial positions like Financial controllers, Budget Analysts, Cost Auditors, Chief financial controller and many other high levelled positions. Since they are in demand in various sectors for many skills, the US CMAs have immense job opportunities in India like those given below and a lot more related to Finance.
1. Research Analyst
2. Cost Accountant
3. Legal Advisor
4. Finance Manager
5. Financial Analyst
6. Management Consultant
7. Cost Auditor
US CMA salary in India: Results from IMA’s salary survey-2021:- The latest Middle East/Africa/ India (MEAI) CMA Salary Survey 2021, from IMA (Institute of Management Accountants) revealed that a median salary of a US CMA professional is above 76% higher than non-CMAs, a strong reason why a US CMA course is a career changing qualification. continue reading…
H. Benefits of US CMA course
By now, as seen in the last decade, about 99% of the MNCs and big companies started functioning in India and Middle East are basically of US incorporated, either directly or as a subsidiary which raise funds or listed in US stock exchanges. All these companies are required to comply with the Securities Exchange Commission (SEC).
US CMA is in great demand in all sectors. CMAs are also being recruited by MNCs like Accenture, Amazon, and Deloitte and so on for the managerial positions like financial controllers, Budget Analysts, Cost Auditors, Chief financial controller and many other high level positions.
Among the Middle East countries, UAE, Saudi Arabia and Egypt have the most number of IMA members representing 35%, 25% and 13% respectively. The job profiles include Financial Controller, Zakat and Taxes Supervisor, Senior Accountant, Budgeting Section Head, Group Internal Auditor, Financial Analyst etc.
The major recruiters among many include companies like Khobar, Harvest, CMACGM, Honeywell, Al Futtaim Group, Vodafone, Oriental Insurance etc. Notably, in the Gulf, Dubai becomes the top job provider for US CMAs. Some of the Dubai based companies which hire US CMAs are Ceva Logistics, TMF Group, Transmed, Kitapi, Huhtamaki Group, KPMG, Phantom Associates, Milliman, Amazon, Sffeco Global at entry, middle and senior levels of accounting and financial management.
It has been noted that the highest number of employment for US CMAs are from the Finance /Insurance/Real Estate sectors followed by the Manufacturing Industry
I. Nine steps to become US CMA certified
Conclusion
To sum up, it can be stated that successful completion of US CMA course can impart you the sophisticated credential of US CMA. US CMA course certification paves the way to grab a better job and elevates your earning potential. US CMA holders enjoy extensive career variety vis-à-vis job security than their non certified counter parts. US CMA course is now the choice of ambitious students and professionals of accounting and finance domain for heightened chance of standing apart from the conventional accounting crowd.
Choose the best US CMA institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA courses in India, Africa, and Middle East. Uplift Pro is also an Indian partner of GLEIM, US and an IMA US authorized CMA US study center. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong back to young ambitious students and professionals to reach their desired career destinations in an organized way.
Some of our exclusive features include
A. Authorized partner of IMA US CMA course in India
B. Live online classes ensuring that the regular office working hours is least impacted
C. The dedicated faculty team for uplift live online US CMA classes are CMA US qualified with incredible marks and have more than 25 years working experience in corporate world. This help the student to learn and simulate the real life corporate working conditions which can not be attained through a CMA pass out faculty only.
D. 1:1 personal support from our 30 plus years of experienced CMA certified faculties. Also, provides full admin support through the dedicated Uplift WhatsApp study group. We have a pass rate of 80% in US CMA course exams.
E. Pass percentage of US CMA students ” at first attempt” is about 80% in a duration of 6-9 months in comparison to near about 40-45% pass rate in a global perspective.
F. The small batch size of online classes provide effective interaction with the faculty which help personalized attention towards achieving the target of 80% “pass at first attempt”
G. Affordable US CMA course fees with special discount in your IMA fees.
H. “Till you pass” guarantee assuring that you may attend our live online classes at no extra cost until you pass. It means once you become an uplift student, you can attend unlimited live online classes till you pass at no extra cost or reregistration fees.
I. Comprehensive coverage of US CMA course details including authorized GLEIM CMA study materials , class mock session, IMA registration and job assistance.
J. 120 hours of CMA classes (Live Online Interactive Sessions) by veteran CMA faculties from Monday to Saturday from 9 pm to 10:30 pm
K. Recordings of CMA live online classes available
L. In class mock session conducted by the faculty to make student aware of the US CMA exam pattern
M. Doubt clearing session before the US CMA exam window
N. Training on soft skills and interview techniques
O. Additional notes prepared by the faculty members on important topics
P. Administration Support towards IMA registration
Q. Job assistance
Request for Live Demo class / contact at +91-8787088850 to book your seats now.
