If you intend to become a CMA (Certified Management Accountant) pro and wish to take up a certified cma (certified management accountant) use course in India, there are a few requirements for it that you must know.
This article will walk you through so that you can tap the immense possibilities a CMA pro has.
The timeline
There is a specific time followed to get certified. This includes:
- Enrolling and joining the IMA or Institute of Management Accountants
- Taking up a cma (certified management accountant) use course in India (usually a 4-year program) and
- Passing the exam.
Easier said than done, there are a few specific academic and experience requirements as explained hereunder.
Continuing Professional Education
This is a specific type of requirement, especially for the IMA. Commonly referred to as CPE, you must meet this requirement every year after you pass the exam. The truth about it is that it is not a difficult requirement to meet because it is mainly the logistics for getting a CMA certification and maintaining it.
IMA Membership
Typically, the IMA manages the CMA certification process and therefore, you must be a member to take the CMA examinations. With such a membership, you will have easy access to different resources related to the US CMA (certified management accountant) course in India. It will also ensure that you are an active contender.
In addition to that, there are also a few other major benefits of being an IMA member. These include:
- Access to professional courses for free
- Innumerable opportunities for career advancements
- Professional assessments
- Access to several boards for advanced and high-paying job search
- Ongoing learning
- Discounts
- Various publications and books.
However, such membership comes at a price, which may vary according to the type of membership you want. A little research is therefore necessary.
CMA Program
There are also some specific requirements for the CMA program in particular. When you take up this program, you become eligible for the certification test and start preparing for it.
Once again, the fees for such programs are variable depending on the level of membership you want. So, research.
CMA exam
Another specific requirement you must know about is related to the CMA exam.
You must pay for the exam fees and entrance fees so that you can take the exam. However, the good news is that to sit for this exam, you do not need work experience.
This program usually has two parts, consisting of 100 MCQs in the first and a descriptive 30-minute exam where you need to answer essay-type questions based on common business scenarios. Mind you, they are pretty difficult. The average rate of passing this exam is pretty low, as is evident from its 45% record.
Academic requirement
Then there are some specific academic requirements you must meet to take up a cma (certified management accountant) use course in India.
Students are allowed to meet this specific requirement either before taking the test or after it. This means that this requirement is not mandatory to take the test but is necessary to get the certification.
However, the academic requirement for CMA is a 4-year degree that you must get from an accredited college and does not depend on the particular degree, such as an accounting or finance degree.
Depending on your career aspirations in the financial field, you may, however, need a degree as well as some work experience, either full-time or part-time, in the financial sector.
Experience requirement
Talking about the experience, you will need some professional experience for two full years in accounting and financial management. You must have this on-jab training before getting the CMA certification but certainly not before taking the exam. Ideally, you have a 7-year window to meet this specific requirement after the exam.
This is however for full-time jobs. If you are working part-time, then you must work for double the time to meet this requirement. In other words, you will typically have to work for 20 hours a week to comply and meet the requirement in 2 years.
To wrap up
You are supposed to meet a few specific requirements for becoming a CMA pro. These requirements are usually over and above the fees, which, as it is for online cfa courses and fees in India, is variable.
This article must have made you knowledgeable enough about all the requirements that will make you a successful CMA professional. Remember, all these requirements will help you a lot in your career in the long run.
So, you are advised not to overlook them if you plan to fulfill your dream as an efficient and legitimate CMA professional.
However, keep in mind that the requirements mentioned in this article are not in order but make sure that you follow the set time frame for each and do not miss out on the deadlines. It may be quite an arduous process, but it is surely life-changing and pays off rich dividends.
