Certified Management Accountant (CMA)

About CMA Certification

This certificate is offered by the Institute of Management Accountants. The CMA exam has two parts covering topics related to accounting, finance, systems, data analytics, and ethics.

Salary benefits of becoming a CMA

Interested in Dual Certification with CMA and CPA?

CMA topic breakdown

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

Part 2: Strategic Financial Management

  • 20% — Financial Statement Analysis
  • 20% — Corporate Finance
  • 25% — Decision Analysis
  • 10% — Risk Management
  • 10% — Investment Decisions
  • 15% — Professional Ethics

Learn more about CMA Certification via IMA's website.

Learn about CMA Certification

Preparing for the Exam

UVU’s accounting program is an IMA Endorsed Program. This means that curriculum in the accounting degree meets rigorous standards to successfully prepare students for the CMA exam.

To become a CMA, you must meet an Education Qualification which entails obtaining a Bachelor’s degree from an accredited college or university. No specific major is required, but accounting and finance majors are likely the best fit for this certification.

Plan on taking the following courses to prepare for each part of the exam:

Part 1: Financial Planning, Performance, and Analytics
Course Prefix & Number Class Title Notes
ACC 3300 Cost Management Required for ACC majors
ACC 3010 Intermediate Accounting I Required for ACC majors
ACC 3020 Intermediate Accounting II Required for ACC majors
ACC 3510 Accounting Information Systems Required for ACC majors
Part 2: Strategic Financial Management
Course Prefix & Number Class Title Notes
ACC 3300 Cost Management Required for ACC majors
ACC 3010 Intermediate Accounting I Required for ACC majors
ACC 3020 Intermediate Accounting II Required for ACC majors
ACC 312G International Internal Auditing Required for ACC majors
FIN 3100 Principles of Finance Required for ACC majors
ACC 4310 Advanced Management Accounting Elective for upper division students

The CMA certification also has an Experience Qualification. This requires two continuous years of professional experience in management accounting and/or financial management. This requirement must be met within seven years of passing the exam. See the CMA Candidate Handbook for more details on how to satisfy this requirement.

CMA Handbook

Taking the Exam

Each part of the CMA exam takes 4 hours. Each part entails 100 multiple choice questions and two 30-minute essays.

The CMA exam is offered in three testing windows: January/February, May/June, and September/October.

To take the exam, follow these steps:

  1. Register as a CMA candidate with the IMA
    Become a member of the IMA
    Note: CMA candidate entrance fee is $188 for student members and $250 for professional members. Cost of IMA membership is $39/year for students and $245/year for working professionals.
  2. Register for Part 1 or Part 2 through the IMA
     
    Note: Registration fees are $311 per part for student members and $415 per part for professional members
  3. Schedule a testing time
     
    Schedule a testing time at a Prometric Testing Center using the authorization information provided when you register for each part of the exam.

After Passing the Exam

To maintain your CMA certificate, you are required to complete 30 hours of continuing education annually. Two of the 30 hours must be in the area of ethics. You also must maintain an active membership in the IMA.