Becoming a US CMA: The Complete Process & Preparation!

The US CMA certification is a coveted prize in the finance and accounting industry.

It is the special key that unlocks many recruitment opportunities from the world’s leading companies. There are over 100,000 CMA holders in more than 150 countries who can attest to the difference this qualification has made in their careers. While it is a challenging journey to embark upon, the CMA course is certain to lead you to a brighter future and lucrative prospects.

Many aspiring students are keen to learn how to become certified management accountants. If you are also interested in pursuing the CMA course, you are in the right place. Here, you will find the answers to many of your queries such as “How to do the US CMA in India, how many years is the US CMA course and how many exams in the US CMA course?”

About the US CMA course

Before you learn how to be a certified management accountant, first let’s look at the reasons why you should be one.

• Your resume gets worldwide credibility and recognition.
• You are considered a better hire than your peers who lack the same qualifications.
• Your earning potential can increase by 20 per cent compared to non-CMA professionals. (As per the 2023 CMA global salary survey).
• The course gives you a global perspective and a better understanding of business operations.
• You join an elite network of CMA professionals where you learn about new industry developments, job openings and many other
• career-boosting opportunities.
• You become an expert in skilled strategic decision-making, financial planning, ethical practices and management accounting.
• You can complete the course within 6 months to a year.
• The total US CMA fees are under Rs 2 lakhs including training costs. Whereas other professional courses cost Rs 3 lakhs to Rs 5 lakhs and take longer to complete.

10 Steps To Become A US CMA Professional?

• Understand the purpose of the course

Before you set out to answer the question, “How do I become a CMA professional?”, first find out more about the focus of the course. The US CMA course was set up by the Institute of Management Accountants. The purpose was to create a cohesive and complete syllabus that helps students become proficient experts in management accounting, making business decisions and financial planning.

The US CMAsyllabus has two levels:

• Part 1: Financial Planning, Performance, and Analytics
• Part 2: Strategic Financial Management

On completion, this can lead to leadership roles and prominent positions in the company.

Also Read – The updated US CMA Syllabus 2024: All Subjects Explained!

• Register for the IMA membership

The Institute of Management Accountants is a prestigious organisation that founded the US CMA course. The board requires every student or professional to become an IMA member before registering for the CMA program and exams. To do this, you go to the official website and register online. There is a fee charge as follows:

Professional membership

• • Fees are $295
  • For all working professionals or non-students.

One-year student membership

• • Fees are $49
  • For graduates who have the equivalent of 6 or more college credit hours.

2-year student membership

• • Fees are $98
  • The same requirements as a one-year student membership

Academic membership

• • Fees are $160
  • For full-time faculty professors at accredited colleges and universities.

Also Read – How to Register for US CMA: Simplified Step-by-Step Guide!

• Understand the course material

Once you become an IMA member, you can apply for the US CMA course. You pay a registration fee and then get access to the syllabus, exam schedules and other relevant information. Before you click on an exam date, you should analyse the course material first. How long will it take for you to learn the important concepts? Are you familiar with the topics? This is the first step to know how to become a certified management accountant.

You can practice for the exams by taking mock tests and solving papers from previous years. Once you have a handle on the curriculum, you can move on to the following step.

• Plan a study schedule

Some students plan a 3-hour daily study routine. Others prefer to study in shorter bursts. Some schedule early morning sessions, others work late into the night. There is no right or wrong here. You should allocate enough time and prepare a study plan that suits you best.

A coaching institution will be of great help as it can also offer you a tailor-made study schedule and teach you how to study for the US CMA. The IMA organisation has suggested devoting 150 to 170 hours to study for each exam. A coaching class will help you reduce that number drastically.

• Enrol with a coaching centre

A reputed coaching class will do the planning and prep work for you. The professors will help you grasp complex concepts and understand the material better. They will also help you revise the chapters and organise yourself better. Enrol with Proschool, you will be ready for the exam in 6 months.

• Register for the exams

US CMA experts advise students to register 6 to 8 weeks before they are ready to take the exams. You can pick a date online. The exams are held in September/October, January/February and May/June. You can choose any Prometric centres in Mumbai, Ahmedabad, Kolkata, Chennai, New Delhi, Bengaluru, Hyderabad and Thiruvananthapuram.

The registration fees are as follows:

• • Professional membership: $300
  • Student/Academic membership: $225

Also Read – Understand The US CMA Exam Pattern [+What’s Changed In 2024]

• Sit for the exams

Once you’ve learnt how to be a certified management accountant, you can take the CMA exams. There are two papers, one for Part 1 and the other for Part 2. You can take them in any order you wish. Both exams will have a similar format of 100 MCQs and 2 essay-style questions. The total exam time is four hours.

You’ll receive 3 hours to finish the MCQ section. If you score 50 per cent or higher, you can progress to the essay portion of the exam. You’ll have one hour to write about two specific business scenarios. Score 360 out of 500 marks (72 per cent) or more in both exams and you’ll clear the course.

The exam fees are as follows:

• • Professional membership: $495
  • Student/Academic membership: $370

Also Read – US CMA Course Fees – Exam, Coaching, Study Material, Total Cost etc.

• Meet the work requirement

I’ve passed the exams, now how do I become a CMA holder? Clearing the exams won’t get you the US CMA certification. You need to complete your work experience requirement too. The IMA requires all students to have two years of continuous professional experience in relevant fields such as financial management or management accounting.

You can do this before or after taking the exams.
In case you have taken the exams as an undergraduate student, you must complete your graduation along with the work experience to qualify for the certification.

• Get your US CMA certification

You can register your work experience details on the IMA official website. The CMA organisation will verify with your employers if all the information you have given is accurate. After that, you will officially receive your US CMA certification.

• Fulfil the CPE requirement

Congratulations! You’ve become a US CMA professional. Now, the last step requires you to stay one. The IMA organisation requires all CMA-certified individuals to collect 30 CPE or Continuous Professional Education credits a year. The official website contains all the information about CMA courses, credits collected and your current status.

Proschool shows you how to become a CMA US professional

The journey from thinking, “How do I become a CMA candidate?” to getting fully certified is quite challenging. Students who have enrolled with Proschool are better prepared to face the exams and match the requirements to become certified.

As one of India’s top coaching institutions, and The Only US CMA Offline Coaching Provider In India, Proschool offers students an engaging and stimulating learning environment. The teaching faculty members are industry experts who use their experience and knowledge to enhance the study sessions. In addition to mastering the subjects, students develop important skills such as analytical thinking and strategic planning, which are essential parts of the US CMA program.

Here are more reasons why IMS Proschool is the best place to learn how to become a certified management accountant.

1. Over 15 coaching centres across the country.
2. You can complete the US CMA course in 6 months.
3. Over 4,000 MCQs, and 90 essay questions and a full-length mock exam are available for your study prep.
4. Proschool offers a free foundation course for students to learn basic concepts.
5. Professors teach updated, IMA-approved syllabus and provide customised study plans, revision classes and doubt-clearing sessions.
6. Proschool ensures students who don’t pass the exams, can take the entire module again for free.
7. Students get recruitment training, mock interview sessions and placement assistance at Proschool.

FAQs

How do I study for the US CMA exams?

Be realistic when you are setting a study routine for yourself. Ensure you allot enough time for a daily review and leave enough time closer to the exam for revision. You can refer to official CMA study material such as Hock or Becker review systems. If studying on your own gets overwhelming, then enroll at a good coaching center near you to get all your study needs met.

How do I get the US CMA certification after the 12th year?

The US CMA course only allows graduates to receive the certification. You can take the exams before you complete your graduation, but you need to show your degree within seven years of taking the exam to receive your US CMA qualification.

Who is eligible for the CMA course?

You need to be a graduate and have an equivalent of 6 credits from an accredited university. You can check on the official IMA website if your college is recognised.

Is the US CMA easier than the CPA?

It depends. Some students find the US CMA exams tougher, while others prefer them to the CPA papers. The difficulty level will depend on your aptitude, prep work and how well you have understood the syllabus.

Is CMA better than CA?

In some ways, the US CMA is better than the CA. While the chartered accountancy course is highly respected in India, it is also difficult to crack. The US CMA is recognised in over 150 countries as an exceptional accounting program and you only have to clear two exams within a year.

What are the total US CMA fees in India?

The fees depend on whether you are a student or professional and on the currency exchange rate. However, the average range is Rs 1.6 lakhs to Rs 1.8 lakhs.

Conclusion

Hopefully, by now you have received the answers you need on how to be a certified management accountant. The US CMA is a powerful certification that can help you launch your career in management accounting. Once you have fulfilled all the course requirements, you are ready to launch your career and create a niche for yourself in this industry.