Tag: Certified Management Accountant

What is the job profile of a certified management accountant (CMA)?

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The Certified Management Accountant or CMA is a professional with in-depth knowledge of accounting, business management, and strategic aspects. Renowned across the world, the CMA course is conducted by the Institute of Management Accountants (IMA), USA. You need to join professional academies offering CMA courses to crack this tough exam.

A CMA course comprises two-stage exams and post-detailed classes on subjects related to accounting and management. Extensive job opportunities sans boundaries are what makes the CMA course an attractive one. Those with CMA qualifications can opt to join any company located in any part of the world. The name and fame of CMA make it the first thing an employer looks for.

We have been offering CMA courses in Dubai for years and acting as a pivotal factor behind the success of many aspirants.

Roles of Certified Management Accountant (CMA)

A management accountant with a CMA certification has a much higher chance of getting selected by the companies. The organizations and multinational entities understand the capabilities a CMA-qualified professional possesses.

As a certified management accountant, the person will have several responsibilities. Quite naturally the payment, the status, and the position of the employee also go up. A key person in financial decision-making, the CMA will have a close association with the top management of the company.

The responsibilities of a certified management accountant include:

  • Cost Management: The complete management of finances to prevent budget overheads is the responsibility of the CMA. That is why CMA courses focus on providing detailed info on the cost accounting and management processes. Analysis of the financial status and assessment of the probable expenditure is undertaken by the certified management accountant of a company.
  • Performance Management: As a CMA, you would be ascertaining the performances of different teams and offering inputs to improve productivity. Enhanced productivity means increased profit. Therefore, the certified management accountant’s performance management has a crucial role in a firm.
  • Decision on Investments: Companies would be looking for investments, expansion, and the introduction of new features. All of these have financial implications. Therefore, a certified management accountant would be studying the prospects and guiding the management accordingly.
  • Financial Control & Reporting: Controlling the expenses and reporting necessary measures to minimize the expenditure are the duty of a certified management accountant. If you join a CMA course in Dubai or any other place, one of the most important topics taught is financial control and reporting.
  • Planning & Budgeting: The company can face unforeseen setbacks if it is going ahead without a proper plan. A definite plan along with an accurate budget calculation is vital for the existence as well as the growth of a firm.

Becoming a CMA is the best way to change your life and become successful. Connect with us for CMA courses in Dubai.

Certified Management Accountant (CMA): All You Need to Know

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Certified Management Accountant, abbreviated as CMA, is a distinctive professional certificate which is awarded by the Institute of Management Accountants (IMA). In order to attain this certification, CMA candidates need to demonstrate ability in financial planning, financial analysis, organizational decision support, and professional ethics. Once it is done, then they are competent accounting professionals who are suitable for various rewarding roles and positions that necessitate these advanced financial management skills. Professionals with CMA certification can work in corporate financial accounting and strategic management. CMAs also specialize in management and executive-level duties. They are also responsible for analyzing budgets and assisting companies in making conversant strategic business decisions.

CMA Requirements

It is very important that the prospective CMA candidates follow the regulations set by the IMA. The CMA certification course must be completed through IMA and you also need to fulfill all the CMA requirements. The candidates aspiring to take the CMA Certification Course must hold an active IMA membership. Note that all CMA program enrollees are eligible for IMA membership. Aspiring candidates for CMA also need to pass a two-part exam and follow IMA’s code of professional ethics.

Education and training requirements

An aspiring CMA candidate should hold a bachelor’s degree from an accredited college or a professional certification approved by IMA. Any non-accredited degrees will be evaluated by an independent agency.

Those CMA candidates who hold bachelor’s degrees should get their official transcripts emailed directly to IMA.  Those who have completed professional certifications may submit a request to the certifying organizations to email official letters to IMA directly.

Professional requirements

CMA candidates should have work experience for at least two straight years in management accounting or financial management. It would be an added advantage if the professional experience was full-time. Also, those candidates who have worked at least 20 hours per week in continuous, part-time roles can apply their experience to the certified management accountant requirements. When it comes to part-time experience, it is counted at a rate of one year for every two years worked.

Candidates attending the CMA exam can attempt parts one and two in any order. Find each part and break them down as follows:

  • Part One: financial planning, performance, and analytics
    • External financial reporting decisions (15%)
    • Planning, budgeting, and forecasting (20%)
    • Performance management (20%)
    • Cost management (15%)
    • Internal controls (15%)
    • Technology and analytics (15%)
  • Part Two: strategic financial management
    • Financial statement analysis (20%)
    • Corporate finance (20%)
    • Decision analysis (25%)
    • Risk management (10%)Investment
    • decisions (10%)
    • Professional ethics (15%)

It takes 4 hours to complete each exam part, which includes 100 multiple-choice questions and two 30-minute essays. The test-takers cannot go back after completing and exiting the multiple-choice section. The essay questions are accessed by the candidates either after completing the multiple-choice section or after three hours, depending on which comes first.

A professional who wants to work in corporate financial accounting and strategic management settings and is planning to get CMA certification in Dubai can enroll in the CMA Course in Dubai offered by YourOwn Education. The teaching faculty at YourOwn are well-experienced industry experts. Learn from the case studies and become a successful strategic business partner and effective financial manager.