Getting the Certified Management Accountant (CMA) title can help you move up in your accounting or finance career. The CMA designation is a professional title that is known all over the world and requires years of education and work experience. In this article, we talk about everything you need to know to get your Certified Management Accountant certification, including the job requirements, the average salary, and the possible exam you will write.<\/p>\n
The Institute of Management Accountants (IMA) gives the professional title “Certified Management Accountant” to people who pass an exam and meet other requirements. Companies need a lot of CMAs because they are good at things like strategic management and Financial Accounting<\/a>.<\/p>\n The CMAs’ reports add a lot of value to the company’s financial reports<\/a>. They help the company’s top management understand different parts of the business, like budgeting and managing human resources. Even though their job depends on the industry they work in, they usually have to do things like complete internal audits, make budgets, and manage the company’s ledger, among other things.<\/p>\n A certified management accountant (CMA) is a professional title for people who work in accounting or finance. CMAs are experts at making plans and analyzing finances. Their jobs may be different depending on what they do and what industry they work in, but in general, they do:<\/p>\n Certified management accountants can work as corporate accountants<\/a>, cost accountants, management accountants, financial planners, financial strategists, and risk managers, among other jobs. Most of the time, they make decisions about money for the company they work for.<\/p>\n A certified management accountant\u00a0usually works a full-time job\u00a0that pays a salary. The salary of a certified management accountant depends on how many years of schooling they have, how much experience they have, where they live, and what services they offer. In the same way, the average certified management accountant’s salary across the country is $66,394, and it ranges from $18,000 to $143,000 per year. There is a wide range of salaries for CMAs in the United States, ranging from 78,146 USD to 138,889 USD for senior-level certified management accountants. Housing, transportation, and other expenses are included in the average total pay or CMA salary in the United States.<\/p>\n To become a certified management accountant, you need to do these things.<\/p>\n The first step to becoming a certified management accountant (CMA) is to get a bachelor’s degree in accounting, finance, or a related field. The Institute of Management Accountants (IMA) sets the rules for the Certified Management Accountant certification, so it’s important to make sure your degree course meets their needs and focuses on business.<\/p>\n You might also want to do an internship, which can help you gain experience in the field, make connections with professionals in the field, and figure out what kind of job you want to do with your certification.<\/p>\n The next thing to do to become a CMA is to apply to join the IMA. With your membership, you’ll have access to study materials for the CMA exam, job boards, and continuing education courses that you’ll need to keep your certified management accountant certification. Furthermore, to join, you have to fill out an application and pay the membership fee every year.<\/p>\n Membership in the IMA costs between $39 and $245 per year, depending on whether you are a qualified student, a regular student, or a professional.<\/p>\n As soon as you are accepted into the IMA, you can sign up for the CMA program. Students will have to pay an extra fee of $188 to join the CMA program, while professionals will have to pay $250. You will be able to use the CMA exam support package if you use this program. Once you sign up for the CMA program, you have one year to take the CMA exam.<\/p>\n Next, you have to take the two parts of the CMA exam and pass them. Each part is a hard four-hour test with 100 multiple-choice questions and two essay questions. You have one hour to answer the essay questions. The fee for each part of the test is $311 for students and $415 for professionals.<\/p>\n Part 1 is about planning, performance, and analysis of finances. Thus, it covers planning, budgeting, and forecasting (20%), performance management (20%), cost management<\/a> (15%), making decisions about external financial reporting (15%), internal controls (15%), and technology and analytics (15%). (15 percent ).<\/p>\nWhat Does a Certified Management Accountant Do?<\/span><\/h2>\n
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The Average Salary of a Certified Management Accountant<\/h2>\n
How to Become a Certified Management Accountant<\/h2>\n
#1. Earn a Degree<\/h3>\n
#2. Apply for IMA Membership<\/h3>\n
#3. Enroll in the CMA Program<\/h3>\n
#4. Pass the CMA Exam<\/h3>\n