ChatGPT and similar AI technologies have the potential to impact the jobs of finance professionals in various ways. Here are a few potential influences:
1. Automation of Routine Tasks: AI-powered systems can automate repetitive and rule-based tasks, such as data entry, basic financial analysis, and report generation. This could free up time for finance professionals to focus on more complex and strategic activities.
2. Enhanced Data Analysis: AI can assist finance professionals in analyzing large volumes of financial data quickly and accurately. By leveraging machine learning algorithms, AI systems can identify patterns, detect anomalies, and generate insights that aid in decision-making.
3. Improved Efficiency and Productivity: AI technologies can streamline processes, reduce manual errors, and enhance efficiency in financial operations. This can lead to improved productivity for finance professionals, allowing them to accomplish more in less time.
4. Support for Decision-Making: AI systems can provide real-time financial information, predictive analytics, and scenario analysis to support finance professionals in making informed decisions. These technologies can enhance the accuracy and speed of financial forecasting and planning.
5. Compliance and Risk Management: AI can help finance professionals in monitoring compliance with financial regulations, identifying potential risks, and implementing risk management strategies. AI-powered systems can analyze vast amounts of data to detect fraud, mitigate risks, and ensure regulatory compliance.
6. Shifting Skill Requirements: The rise of AI in the finance industry may lead to a shift in the required skill set for finance professionals. While technical and analytical skills will remain crucial, there will be an increasing demand for skills such as data interpretation, strategic thinking, problem-solving, and collaboration to work effectively with AI technologies.
It’s important to note that while AI technologies can automate certain tasks and enhance efficiency, they are not expected to replace finance professionals entirely. The human element, such as critical thinking, professional judgement, and ethical decision-making, remains essential in finance roles.
Finance professionals can adapt to these changes by staying updated with emerging technologies, continuously upskilling themselves, and focusing on developing expertise in areas that complement AI capabilities. Programmes like the US CMA or CPA are enough to make a finance guy stand above the influence of AI. This proactive approach can help finance professionals leverage AI as a tool to augment their work and create new opportunities within the finance industry.
CMA US Training in Kolkata: The US Certified Management Accountant (CMA) or US CMA 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).
For those looking to work in the field of management accounting, the Certified Management Accounting (CMA US) course is an excellent option. Professionals with CMA US credentials are in high demand in metropolis cities such as Delhi, Kolkata, Bangalore, Pune, and Mumbai. Among all the metropolis cities, CMA US in Kolkata is gaining popularity among the finance aspirants.
Eligibility: The candidate must be a graduate in any field in order to obtain certification. An experience of at least two years in the field of Accounting & Finance will be an added advantage. Even a fresher can apply for CMA US exam.
CMA US Syllabus: The CMA USA syllabus gives students a comprehensive understanding of finance that enables them to master the day-to-day financial operations of an organization. Candidates who take this course will build their technical and managerial skills, preparing them for a more strategic role. The following table lists the subjects that candidates will learn in this course:
CMA USA Part 1
CMA USA Part 2
External Financial Reporting Decisions – 15%
Financial Statement Analysis – 20%
Planning, Budgeting, and Forecasting – 20%
Corporate Finance – 20%
Performance Management – 20%
Decision Analysis – 25%
Cost Management – 15%
Risk Management – 10%
Internal Controls – 15%
Investment Decisions – 10%
Technology and Analytics – 15%
Professional Ethics – 15%
CMA US Coaching in Kolkata: The job market is very competitive for CMAs. CMA US is in high demand and is paid a premium by companies. Thus, CMA US training in Kolkata is becoming increasingly popular among finance students. The city has steadily developed as a leader in finance and accounting in recent years.
The city houses several prestigious accounting firms, including KPMG, EY, Deloitte, and PwC. Whether you live in Kolkata or another city, you are still able to obtain this certification by enrolling in the right and recognized US CMA Institutes.
Uplift Pro is one of the top CMA US training institutes in Kolkata. Uplift Pro is an approved provider of Institute of Management of Accountants, IMA US. Uplift Pro conducts training for courses like CMA US, CPA US, CIA US and Enrolled Agent. 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.
ACCA stands for Association of Certified Chartered Accountant is a Chartered Accountant degree which is given by Association of Chartered Accountant with headquarters situated in London. The role of work is related to inspection of accounting services to the public, private entities. CMA stands for Certified Management Accountant and the degree is provided by the Institute of Management Accountants (IMA), USA. The field of work is related to management accounting services with strategic financial management decision making and planning for the companies like small and mid-size firms and MNCs including the big 4s. If the pertinent question arises which course, are you planning to do further, ACCA certification or CMA US exam? Will you be aiming to do both in the future? If you are confused about your plans just have a look in this article.
What is ACCA?
The ACCA or the Association of Chartered Certified Accountants is a body that recognizes the qualification of a CA. ACCA is a global body based in Glasgow UK which works in the interest of the public to ensure that the chartered accountants work according to the principles-based and ensures that the regulations set are properly followed. The ACCA offers the certification in chartered accountancy and the exam known as ACCA is most recognized in the commonwealth countries. The degree was given with the intention to give protection. The ACCA Exam consists of 14 papers and emphasis is given on the core values of integrity, accountability, diversity, and innovations, etc. The degree is accepted globally across 180 countries. The degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials. Both ACCA vs CPA are highly qualified accounting courses designed for professionals who are interested in making a career in Accounting, Taxation, Auditing, and Finance.
What is CMA US?
The US CMA course or certification is offered by IMA® (Institute of Management Accountants) of USA, which is the worldwide association of accountants and financial professionals in business. It was founded in 1919, having 90,000+ members and global reach of 140 countries through 300 professional and student chapters. CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals.
You can now get a professional certification from the USA within 12 – 18 months. The CMA certification is well recognized by all the MNCs, Big 4 audit firms, US Banks, Consulting firms and other BFSI companies having offices in India. This certification from IMA® (Institute of Management Accountants) is on par with the Indian CMA by most employers. CMA certified professionals are observed to get a career and earnings premium. In the US, median total compensation is 28% higher for CMAs over non certified peers. Globally, it is 50% higher. The US CMA certification is more attentively focused in the area of management and cost accounting.
A CMA certification aspirant is more likely to investigate, analyze, risk management and performance management and can work in various capacities ranging from financial analyst to CFO, and very often necessitate formulating major financial decisions for an organization. CMA US is a 2-part online exam where graduation is the academic criterion to take the exam. With dedicated study and quality assistance, the 2-part exam can be cleared in approx. 9 months on average.
CMA US vs ACCA: Application & Qualification
The most significant differences between ACCA and CMA are in the qualifications and the application processes.
CMA US
Steps To Become A CMA USA:
1. Foundational knowledge of economics, basic statistics, and financial accounting
2. Pass both CMA exam parts
3. Bachelor’s degree from an accredited college or university
4. Any major, no course distribution requirements
5. Most CMA candidates hold a degree in accounting or finance
6. May be earned within 7 years of passing CMA exam parts
7. Two years of professional work experience
8. May be fulfilled within 7 years of passing CMA exam parts
9. Active membership in IMA
Requirements to maintain CMA certification:
1. 30 hours of CPE annually
2. CPE must include 2 hours of ethics training
3. Maintain active IMA membership
ACCA
The ACCA entry level is much lower than the CMA. Plus, the ACCA has two entry points depending on your education and experience. The ACCA labels these levels as “ACCA Foundations in Accountancy” and the “ACCA Qualification” level. The foundation level is for people who are new to accountancy and do not have an education threshold. It is also the best place to start for people working in finance but who don’t have adequate education levels or qualifications to apply for higher-level positions.
The exams at the Foundations level test your understanding of basic accounting principles. Basically, the ACCA feels that you should have mastered these topics before going for the ACCA Qualification exams. If you have more experience and/or education, you can start at the ACCA Qualification level. The ACCA’s exact requirements state that you can begin at this level “as long as you have 3 GCSEs and 2 A Levels in 5 separate subjects including Maths and English.” Basically, this means you need a bachelor’s or master’s degree.
However, if you only have a high school diploma, you can begin the ACCA Qualification exams if you pass the ACCA Advanced Placement Examination. This test analyses your proficiency in the material that appears in the ACCA Foundations of Accountancy program. In addition to passing all papers for the ACCA Qualification, candidates must also take the Ethics and Professional Skills module. Additionally, they need to gain 3 years of appropriate work experience before calling themselves ACCA-certified.
ACCA versus CMA US: Exam Content and Format
ACCA
The ACCA Qualification has several smaller exams to pass, called “papers.” The ACCA exam is divided into 13 papers as follows:
Applied Knowledge:
Accountant in Business
Management Accounting
Financial Accounting
Applied Skills:
Corporate and Business Law
Performance Management
Taxation
Financial Reporting
Audit and Assurance
Financial Management
Strategic Professional – Essentials
Strategic Business Leader
Strategic Business Reporting
Strategic Professional – Options (complete 2):
Advanced Financial Management
Advanced Performance Management
Advanced Taxation
Advanced Audit and Assurance
Candidates can apply to waive some papers based on their education levels. Or, they can take the “Certified Accounting Technician Qualification” assessment to waive some papers according to practical experience. However, please note that you can only receive a maximum of nine exemptions for the Applied Knowledge and Applied Skills papers. Plus, you cannot receive any exemptions for the Strategic Professional portions. So, all candidates must sit for those papers. If you think you might qualify for any exemptions, you can use this tool from ACCA Global to find out. Some—but not all—papers are computerized. Furthermore, the exam is offered four times a year at more than 500 testing centers worldwide.
CMA US
The IMA breaks it down like this:
Part 1: Financial Planning, Performance, and Analytics
15% External Financial Reporting Decisions
20% Planning, Budgeting, and Forecasting
20% Performance Management
15% Cost Management
15% Internal Controls
15% Technology and Analytics
Many candidates find Part 1 to be more difficult since it covers more topics and a wider array of subject matter. You can read more about CMA Exam Part 2 difficulty compared to Part 1 if you want to learn more. In general, Part 2 has fewer subjects and units, so many people do consider it easier. Personally, I was more frustrated with Part 2. It seems easier when you look at it, but the questions were not as straightforward as Part 1.
Part 2: Strategic Financial Management
20% Financial Statement Analysis
20% Corporate Finance
25% Decision Analysis
10% Risk Management
10% Investment Decisions
15% Professional Ethics
You will have an average of 12-18 months to complete each part, with 3 years to complete both. Many people sit for the exams in order, taking Part 1 first since it seems the most logical. However, some people think Part 2 will be easier for them, so they register to take it first and get it out of the way. The choice is yours. If you want to review the material a bit more and then decide, that is one option.
Each exam part is four hours in length
100 multiple choice questions, followed by two 30-minute essay scenarios
Exam administered at Prometric testing facilities across India
ACCA Vs CMA US: How Much Time You Need To Pass?
ACCA
Given the number of papers to pass, candidates generally need 3 to 4 years to complete all papers and become ACCA members. Candidates can sit for the papers during four exam sessions held each year. However, candidates can only take four exams per session and a max of eight papers in a year. So, in theory, you could pass all papers in 2 years. But because of logistics issues, most need 3-4 years. Plus, candidates need 3 years of work experience before receiving their ACCA credentials.
CMA US
Most candidates aim to pass the CMA exam within 6 to 9 months. Both the exam parts are independent, so one can take either the 1st or 2nd part as per will. After all, once candidates pass the first of their 2 CMA Exam sections, they must pass the other one within 3 years of registration with the IMA.
CMA US vs ACCA: Which is Easier?
What test is tougher – ACCA or CMA US? Honestly, that depends on what you consider to be tough. Is ACCA harder than the CMA? In some ways, yes. But in other ways, no. Deciding which one is tough – US CMA or ACCA – there are several factors to consider. First, the US CMA has fewer sections (2 exam sections vs 13 papers for the ACCA Qualification). However, the pass rate of both hovers around 50-55% on average.
Recognized in the US and anywhere with US regional offices
Recognized in about 144 countries globally including India
Middle entry barrier: Graduation
Exams offered in 4 windows annually
Maximum 1-2 years to complete
Exam sites in the US + multiple other countries including India
Summing up, Coming to that inherent question, ACCA vs CMA US… Which One Should I opt for? the US CMA is arguably the easier having less duration and being considered as a prestigious management accounting qualification. The CMA US Exam itself has fewer parts than the ACCA — only 2 exam parts compared to 14 papers for the ACCA. Comparatively, CMA US has wider acceptance globally while ACCA is although globally recognized, it is not as highly regarded outside the UK and Commonwealth countries. Cost wise, US CMA is cheaper than pursuing ACCA course.
Furthermore, in CMA US, for college students IMA has provision to offer scholarship which allow complete waiver in all IMA fees. If you want to work in the auditing domain relying on IFRS system, you can opt for ACCA but if your inclination is towards management accounting and want to a part of financial decision-making strategic business development, thus, want a job in MNCs on US GAAP system, US CMA should be your cup of tea.
Salient Features of the US CMA Course:
The US CMA course is a worldwide demanded qualification in Finance.
The US CMA course has just 2 parts.
US CMA exams can be cleared in 7 to 9 months’ time.
Exams are conducted online at the prometric centers.
Typically, the US CMA exams have 75% of the questions as MCQs (objective type) and the rest are Essay questions.
Pass percentage of US CMA courses is globally near-about 50%, Uplift Pro has a pass percentage of more than 70%. We are one the smartest US CMA institutes in India.
Along with providing CMA Study Support, we uplift the soft skills of our students, if required, and help them in getting placed in leading companies in and outside India.
The US CMA course helps professionals to build a career across the globe.
Uplift Pro is a valued CMA study center recognized by the IMA US and Gleim Accounting for training students for the US CMA course. Students of Uplift Pro enjoy special discounts in IMA fees.
A US CMA is respected worldwide to be the decision maker in the industry and formulate robust finance and accounting strategies.
Uplift Pro’s US CMA live online classes are scheduled and designed in such a way you can avail them from your home computer after your regular working hours.
Uplift Pro provides a “Till you pass” guarantee to every student which means once you become our student you may attend our live online classes at no extra cost until you pass.
In case you miss a class, you get the recording of it the very next morning.
You get 1:1 personal support from our experienced CMA certified faculties in class and out of the class in dedicated WhatsApp study groups.
It is understandably hard for a student (without real working experience) to be sure which career path to take. They might be very interested in a subject but then when it comes to work, it could be a completely different experience. Not everyone has to have it all figured out or know exactly what career path they want to pursue while still working on their degree. Graduation is an important step in your career. But if you have a little idea about what is going on in the market, then only graduation is not all.
Yes, we are talking about your B. Com. You chose B. Com because you feel that you incline in business and commerce and, to be precise, accounting. But do you think completing your B. Com will give you an edge in accounting or business? You know that, right? Unfortunately, completing B. Com with a great score will not ensure success in an accounting career. You need to think farther, and you need to be on your edge.
When it comes to different career options for a commerce graduate, the most common careers after B. Com includes US CMA, MBA, M. Com, CA to name a few. Among these, US CMA is one such impressive international course in the field of management and accounting. Due to its wide acceptance, job opportunities, affordability, shorter duration, and higher pass rate, US CMA is one of the preferred career options during or after B. Com in comparison to other academic or professional courses. It has been observed that If we manage to complete CMA US with B.COM we will be able to earn at least 33.33% more than each non-certified accountant.
Some candidates decide not to take the exam early, and one of the main reasons is that they don’t know if the CMA US certification is going to be useful in their careers. If you have not completely mapped out what direction you want to go with your career yet, it may seem hard to justify all the work and study that goes into preparing for the CMA US exam, in the event that you may not need that certification at all. Many students are confused about whether to join CMA USA classes before or after graduation.
The Worth Of US CMA In 2022: By now, the majority of us are well aware about the CMA US course which confers a prestigious global professional credential in the field of management accounting…read more
The Thinking Process
Identify the Benefits of US CMA Certification
Your first step is to determine the benefits of obtaining this certification. We’ve talked about many of them here in this post. The benefits for students may vary from those for people already in the workforce. You need to determine if they are right for you before making your decision.
Compare to Other Accounting Certifications
Next, most candidates will do a comparison with other accounting certifications to ensure this is really the one they want. If you are still a student, you may want to devote some time to this research in order to be sure you are choosing the certification that matches the career path you plan to take after graduation.
If you’ve made the decision that you want to take the US CMA exam and get your certification, but you’re still a student, how do you qualify with the IMA? If you are currently enrolled in an institution of learning and have not yet graduated, you just need to prove to the IMA that you’re a student. You need to be registered for at least 6 credits per semester during an academic year. Then you will send confirmation of your degree over to the IMA within 7 years of passing the CMA US exam.
The benefit is obvious if you choose to get into management accounting right after graduation. The exam syllabus goes deep on costing analysis, internal controls, corporate finance, and financial management, which are all interesting and practical for junior financial and business analysts. You will use this information on a regular basis for your new job. If you come straight out of college, into your CMA US certification and into a job, it’s going to give you a leg up in the workforce. It will also give you a possible preference over certain job positions and promotions when they become available.
Statistics have shown that people a CMA US certification can gain higher employment than those without doing the same jobs. BCom with CMA US enables the students to obtain substantial fundamental knowledge of various financial and management accounting subjects while pursuing BCom. However, Joining CMA USA classes after graduation comes with its own challenges, especially if you are a working professional. If you are still in college it is recommended to join CMA USA classes as early as possible.
Why Should You Take the US CMA Exam Early During the Academic Study?
According to data from IMA, 23.9% of CMA candidates globally are students. (Source: SF Magazine, August 2015). This means they are taking the exam early before they have graduated from their study program. Let’s check the benefits:
Stronger Memory and Information Retention Capacity
It is quite well known that the ability to memorize and retain information is much better at a younger age. Most (but not all students) are young, as many people enter college right out of high school and at the start of their careers. If this is the case for you, it may be easier for you to learn and hold onto information you learn.
As we graduate, our book-smartness starts to depreciate, due to age as well as the fact that we have lots of things to take care of in our daily lives. Imagine the extra things you need to handle like a spouse, kids, loans, mortgage, household chores, bosses, colleagues, clients, and work projects. You won’t have many brain cells left for studying. This is why it’s much easier for students to take the exam while they are still fresh and free of these responsibilities.
May complement or supplement with BCOM syllabus
Surely, the syllabus of CMA US is such that it will cover most parts of the BCOM syllabus of any university.
Better Mentoring
It is often easier to find mentors in the college environment, versus the commercial world where your future boss may or may not be as supportive. At the college level, many people are going through the same thing, or have just gone through the same thing, and they are willing to help you get a leg up in your own start to your career.
IMA Membership and Exam Fees are Less
The IMA membership fee and exam fees are much lower for students than professionals. As long as you take at least 6 credit hours of courses in the last semester, you are qualified. Note that this discount will end once you graduate.
A Chance for the IMA Scholarship
Another advantage of taking the CMA US exam as students is the eligibility for the IMA scholarship, which allows students to take the exam at no cost to them. For this, the student has to be nominated by the concerned college/University through proper application proforma to be sent to IMA. The tip in getting this scholarship is to take initiatives in IMA sponsored events at school, such as launching the IMA Student Chapter and taking part in the student case competition. If you are able to seek help from a mentor and build a long-lasting relationship during the process, that would be a great bonus as well.
Time Saving Job Search
You will not obtain the CMA US certification right after graduation, but you could reap the benefit simply by passing the exams. By mentioning the passing of the CMA US exam in your resume you will be able to talk about the process and impact during career interviews even if your graduation is not yet completed officially.
Get Awarded
It is worth mentioning that you’ll have a chance to win the Priscilla C Payne award given only to student candidates. Again, you can only qualify for this award if you are still a student. This award is given to the candidate who achieves the highest score as a student in each teaching period. This is highly fascinating especially for any student candidates who are thinking about taking the exam early.
US CMA Review Systems, Books, Study Materials of 2022:Based on the pros and cons, following US CMA review system providers offering US CMA books, study materials, practice software’s etc., can be considered as the best US CMA review system providers that suits and can cater every type of student… Read more
Summary
The benefit is obvious if you choose to get into management accounting right after or during the graduation. The exam syllabus goes deep on costing analysis, internal controls, corporate finance, and financial management, which are all interesting and practical for junior financial and business analysts. You will use this information on a regular basis for your new job. If you come straight out of college, into your CMA certification and into a job, it’s going to give you a leg up in the workforce. It will also give you a possible preference over certain job positions and promotions when they become available.
Statistics have shown that people with a CMA US certification can gain higher employment than those without doing the same jobs. To acquire CMA USA certification, it is not important to have a background in commerce or accounting. The best way to adopt a career in commerce is to get a professional certification in the respective subjects. Therefore, students who have done their 12th grade in any stream can take up CMA USA Course. An advantage of pursuing a CMA USA course as a student is that you will only be required to pay lower exam fees with IMA and it also has the advantage of attaining IMA scholarships.
All in all, the CMA US program helps bridge the gap between college and the professional world. This is just one more bonus or benefit to come to students who decide to take the exam early.
The US CMA course or certification is offered by IMA® (Institute of Management Accountants) of USA, which is the worldwide association of accountants and financial professionals in business. It was founded in 1919, having 90,000+ members and global reach of 140 countries through 300 professional and student chapters.
CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals. You can now get a professional certification from the USA within 12 – 18 months.
The CMA certification is well recognized by all the MNCs, Big 4 audit firms, US Banks, Consulting firms and other BFSI companies having offices in India. This certification from IMA® (Institute of Management Accountants) is considered to be on par with the Indian CMA by most employers.
CMA certified professionals are observed to get a career and earnings premium. In the US, median total compensation is 28% higher for CMAs over non certified peers. Globally, it’s 50% higher.
If you’re planning for your US CMA course credential, you should know the CMA exam dates, schedule, and deadlines. Plus, it’s essential to understand how to register and manage your time.
1. Steps to become a US CMA
1. Foundational knowledge of economics, basic statistics, and financial accounting
2. Pass both CMA exam parts
3. Bachelor’s degree from an accredited college or university
4. Any major, no course distribution requirements
5. Most CMA candidates hold a degree in accounting or finance
6. May be earned within 7 years of passing US CMA exam parts
7. Two years of professional work experience
8. May be fulfilled within 7 years of passing CMA exam parts
9. Active membership in IMA
2. Requirements to maintain US CMA certification
1. 30 hours of CPE annually
2. CPE must include 2 hours of ethics training
3. Maintain active IMA membership
3. Which CMA part one should take first?
It is to be noted, you do not have to take the US CMA course exam parts 1 and 2 in order. It’s completely up to you. For example, you can choose to take Part 2 first, if you want. So, how do you decide? The first step is to know what content each part contains. If one part seems significantly easier for you, then you can choose to tackle that one first. There really isn’t a right or wrong way, since in the end, you need to complete and pass both parts to get your certification.
4. The IMA breaks it down like this:
Part 1: Financial Planning, Performance, and Analytics
15% External Financial Reporting Decisions
20% Planning, Budgeting, and Forecasting
20% Performance Management
15% Cost Management
15% Internal Controls
15% Technology and Analytics
Many candidates find Part 1 to be more difficult since it covers more topics and a wider array of subject matter. You can read more about CMA Exam Part 2 difficulty compared to Part 1 if you want to learn more.
In general, Part 2 has fewer subjects and units, so many people do consider it easier. Personally, I was more frustrated with Part 2. It seems easier when you look at it, but the questions were not as straightforward as Part 1.
Part 2: Strategic Financial Management
20% Financial Statement Analysis
20% Corporate Finance
25% Decision Analysis
10% Risk Management
10% Investment Decisions
15% Professional Ethics
You will have an average of 12-18 months to complete each part, with 3 years to complete both. Many people sit for the exams in order, taking Part 1 first since it seems the most logical.
However, some people think Part 2 will be easier for them, so they register to take it first and get it out of the way. The choice is yours. If you want to review the material a bit more and then make a decision, that is one option.
1. Each exam part is four hours in length
2. 100 multiple choice questions, followed by two 30-minute essay scenarios
3. Exam administered at Prometric testing facilities across India.
5. Overview of 2022 US CMA exam dates
You need to understand the US CMA course exam schedule to register for your exam dates. Maybe you’ve been studying for weeks (or even months), and you finally feel confident enough to book your CPA exam date in 2022. However, it’s not possible to take the exam whenever you wish.
First, you must schedule your CMA exam within one of the testing windows. The good news is that we already know the CMA exam dates for 2022, so you have plenty of time to prepare. Furthermore, understanding the timeframe for the testing windows is essential to your CMA exam schedule.
The IMA currently offers three testing windows each year for the CMA accounting exam dates, as follows:
CMA Testing Window
First Exam Date
Last Exam Date
Last Date to Register
January/February
Jan. 1, 2022
Feb. 28, 2022
Feb. 15, 2022
May/June
May 1, 2022
June 30, 2022
June 15, 2022
September/October
Sept. 1, 2022
Oct. 31, 2022
Oct. 15, 2022
Additionally, the dates are the same for each section of the two-part exam. Therefore, the CMA exam part 2 dates are identical to the part 1 dates. If you miss your testing window, you’ll have more hassles than just needing to reschedule. After all, it could throw your study plan off by months. Missing a testing window isn’t the end of the world, but it’s always better to avoid it when possible. Since the testing windows are always the same, you can avoid this problem by being proactive about your planning.
6. Scheduling the Exam with Prometric Centre
Upon selecting the appropriate test window, next comes the booking of your exam slot. Prometric offers convenient, online, anywhere, anytime scheduling and registration with global contact center support. Using the Prometric website, test takers can quickly, easily and conveniently register or schedule an exam online anytime they wish.
Online test scheduling allows test takers to search for the exam they want to take, locate a test center near them, select a time and date to test and book the exam, all from the Prometric website. You will schedule your test with Prometric.
However, you can either take the CMA at a Prometric test center near you, or you can choose online remote proctoring from your own computer at home. If you choose to take it in-person, plan carefully, since planning potential travel arrangements is also essential when you schedule a test. You can also use the same Prometric dashboard to reschedule or cancel your test and to confirm your test once you have scheduled it.
Next, in order to reserve a space at the Prometric exam site or to reserve a remote proctored time slot, you will need an authorization number. It is advised that you send in your registration around 6 weeks before the intended date of your exam to ensure everything is processed on time. Keep in mind that many people are trying to register, and spots may be limited, especially at more popular testing centers.
Finally, remember that you must be an IMA member before you register for the exam.
Now that you know the IMA CMA exam dates, let’s look at some tips for scheduling your appointment.
7. Tips related to scheduling of US CMA Exam
If possible, schedule your exam in the first month of a testing window (i.e., Jan, May, Sep). This gives you more time in case you need to reschedule. This could save you money in the long run, where rescheduling fees are involved.
Candidates are allowed to reschedule their exams for free within the same testing window as long as their test date is still 30 days away. For example, if you run out of studying time, you can still postpone your January exam to February. If you schedule the exam in February, you can’t extend it to May, and instead must pay in full for your next exam. Of course, no one likes to think they will need to reschedule their exam, but you never know what will happen. Putting yourself in the position of having the free rescheduling time is a smart move, just in case.
Top US CMA Exam tips – the preparation strategy [ 2021 Update] :- The most important part is the study/preparation in a guided manner having a proper schedule. Eventually, you will be adapted to the syllabus and format of the US CMA exam. But the ultimate aim is to clear the exam in shorter duration and obviously at first attempt.…continue reading
8. Other Important CMA Exam Dates IMA
In addition to knowing the exam windows, you should be aware of a few other restrictions for scheduling your US CMA course exam.
1. All exam appointments must be made with Prometric at least 72 hours before your exam date.
2. If you need to cancel an exam appointment, you must do so at least 72 hours before your date, according to Prometric’s policies.
3. Exam appointments must be scheduled within the same testing window. For example, if your original appointment was in the January/February window, you can’t reschedule for the May/June window.
9. Time Management
It is of utmost importance to understand your “CMA clock.” You have to complete all steps of the certification process within a certain timeline. Please note that the countdown on your CMA exam clock starts the day you pay the CMA entrance fee. On this date, you’re officially “in” and your work to become a CMA begins. Specifically, you must register for the exam within 12 months of entering the CMA program and pass both parts of the CMA exam within 3 years. Therefore, it is important to be mindful of your window and not to allow these dates to pass you by.
If you run down your CMA exam clock, you must start all over again by re-paying the entrance fee. To manage and track your CMA exam clock, most people keep a CMA calendar. You can also work this CMA exam calendar into your study program to help you stay on track.
10. Example of US CMA Exam Scheduler- At a Glance
Let’s take January 1 ,2022 as the day of commencement and to wrap up the whole thing within 6 months.
1. Apply for IMA membership and pay the entrance fee – January 2022
2. Pick a CMA review course and start studying – January 2022
3. Pick your CMA test exam dates and register for the CMA exam – around mid-March 2022
4. Sit for the exam (Part 1) – May 2022
5. Sit for the exam (Part 2) – June 2022
6. Pass the 2 parts and get your CMA certification.
You can make your personalized roadmap to US CMA based on the above example accordingly.
11. US CMA Exam Score Release Date 2022
Your CMA exam result date is based on a formula depending on your test window. They say the waiting is truly the hardest part. And while this may be true, you can do some value-added things while you wait.
Results come 6 weeks from the last day of the month you took the test, plus or minus a day.
Example:
1. If you take the exam on January 30, you will know the date sometime in the middle of March.
2. If you take the exam a few weeks earlier on January 2, your CMA exam result is released the same day as the above. Why? Well, you’ll wait 6 weeks after the end of the month you tested.
So, in this example, if you choose any CMA January 2022 exam date, you won’t get your results until March. The results will be updated online in your IMA profile almost immediately from this date. Furthermore, Prometric will email you a performance report about 14 days after your exam.
12. Stats from IMA regarding US CMA
1. The CMA has a 45% pass rate globally
2. 5,000 CMAs granted each year on average
3. 100,000 CMAs awarded to date
13. IMA: Important Updates for IMA Members and CMA candidates
A. Testing Center Update
Updated on April 27, 2022
As we continue to monitor the global COVID-19 pandemic, our top priority remains the health and safety of all CMA candidates and our staff. Given the current outlook, please note the following schedule and process changes:
B. Prometric testing centers are open
Most Prometric testing centers around the world are open, many at full capacity. Review the complete list of open Prometric testing centers. Note: This list is subject to change.
C. Update to mask/exposure policy:
In light of recent trends and mask mandate changes around the world, along with updated guidance from leading world health organizations, effective May 1, Prometric will not require masks to be worn in testing centers. Prometric, however, will continue to allow and encourage the wearing of masks regardless of mandate or vaccination status. Please note: If masks are mandated in a specific market by local government and/or health officials, then Prometric will follow that guidance in testing centers as well.
In addition, regarding COVID-19 exposure, if a candidate has tested positive for COVID-19 or reports exposure to someone who has COVID-19, Prometric asks that they wait five days and are symptom free prior to testing.
D. Proof of vaccination
In an effort to comply with regional and local/government guidance and mandates, some Prometric testing centers are now requiring candidates to present proof of COVID-19 vaccination at check-in.
Prometric maintains a list of test sites globally that require proof of vaccination in order to test. Candidates testing at these identified sites should be prepared to present the documentation provided to them by their healthcare provider at the time of vaccination. Prometric will update this list on a regular basis.
Candidates should check for additional details by visiting Prometric’s COVID update page.
Have more questions regarding testing sites and COVID-19? Go to the Prometric FAQ page now.
14. What to expect on test day?
This video will provide you with a detailed overview of what to expect during your visit to a Prometric test center.
A. Prometric has resumed biometric procedures
Prometric has reinstated its biometric procedures, specifically fingerprint and ID scans. Out of an abundance of caution, all test takers will be required to use hand sanitizer before using any fingerprint scanners, and Prometric staff will wipe down devices with cleaner after each use to help reduce any risk of transmission. Prometric test center staff are trained on how to assist test takers in using fingerprint and ID scans from an appropriate distance. More information about these policies can be found on the enhanced test center procedures page on Prometric’s website.
B.Remote Testing Option
CMA candidates now have the option of taking their exams either in-person at a Prometric test center or remotely using Prometric’s ProProctor™ service. Certain technology and space requirements apply. Please see the Remote Testing webpage for complete details.
C. Education Transcript Submission
Change to submission process for education transcripts
CMA candidates must submit all required educational transcripts to ICMA electronically on a temporary basis. Please email all documents in PDF format and make sure to include your IMA membership number. Send to:
If you have already submitted your educational documents by mail, please resubmit a scanned copy of your documents to the above email address. To register to take the CMA exam, please visit the exam registration page.
15. Summary
By now, after browsing this write up, you being a CMA US aspirant, believed to be well acquainted with the CMA US course and the procedures of registration and booking of the CMA US exam through prometric centers. Till available updates are provided to help you take steps judiciously to complete the entire process. Last but not the least, everything depends on the status of your preparation and preparation brings confidence and it is the confidence that will pave your way to become a CMA US in the long run.
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Salient Features of the US CMA Course
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%, Uplift Pro has a pass percentage of more than 70%. We are one the smartest US CMA institutes in India.
7. Along with providing CMA Study Support, we uplift the soft skills of our students, if required, and also help them in getting placed in leading companies in and outside India.
8. US CMA course helps professionals to build a career across the globe.
9. Uplift Pro is a valued CMA study center recognized by the IMA US and Gleim Accounting for training students for the US CMA course. Students of Uplift Pro enjoy special discounts in IMA fees.
10. A US CMA is respected worldwide to be the decision maker in the industry and formulate robust finance and accounting strategies.
11. Uplift Pro’s US CMA live online classes are scheduled and designed in such a way you can avail them from your home computer after your regular working hours.
12. Uplift Pro provides “Till you pass” guarantee to every student which means once you become our student you may attend our live online classes at no extra cost until you pass.
13. In case you miss a class, you get the recording of it the very next morning.
14. You get 1:1 personal support from our experienced CMA certified faculties in class and out of the class in dedicated WhatsApp study groups.
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