Certified Management Accountant (CMA)
Certified Management Accountants (CMAs) are professionals with a depth of knowledge in internal and external reporting and a broad expertise in financial planning and analysis, marketing, operations and decision support. They serve in such senior roles as CFO, controller, budget analyst, finance manager, cost accountant, etc. CMAs determine the “what and why” behind the numbers.
To become a CMA, candidates must:
- Have a bachelor’s degree or higher, or a professional certification in a related field,
- Pass a two-part exam:
- Financial Planning, Performance and Analytics
- Strategic Financial Management
- Attain two years of related work experience
Applicants for the exam must complete both parts within three years, but typically take only twelve to eighteen months. The Institute of Management Accountants (IMA), founded circa 1919, oversees the exam and recommends 150-170 hours of study in preparation.
On average, CMAs make an $1,696 more in lifetime earnings for every hour spent studying for the CMA exam. For more information, refer to the FAQ area below.