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Certified Management Accountant (CMA)

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Course Description

The certified management accountant (CMA) certification qualifies those who hold it to work in corporate financial accounting and strategic management settings. Professionals often choose this pathway because it covers topics not included in the certified public accountant (CPA) certification. While the CPA qualification focuses on job tasks, like writing audit reports and preparing tax returns, the CMAcertification targets management and executive-level duties..

Accountants with CMA qualifications analyse budgets for internal review and help companies make informed, strategic business decisions. The Institute of Management Accountants (IMA) awards the CMA certification to those who pass the CMA exam. Accountants often pursue this qualification before applying to executive positions, such as chief financial officer. CMA salaries typically surpass their non certified counterparts.

WHY BECOME A CERTIFIED MANAGEMENT ACCOUNTANT?

The CMA qualification guarantees professionals can work in strategic roles within corporate finance teams. CMA holders join a community of their peers through the IMA, generally earn a higher annual salaries, and enjoy other advantages, like:

  • Credibility: Like other certifications in accounting, the CMA qualification demonstrates competency. It is also recognized in several countries, including the U.S., making it a globally applicable credential.
  • Earning Potential: Employers often prefer CMA holders for higher-paying positions. In 2019, the IMA conducted a global salary survey that found that CMAs earn 117% higher salaries than uncertified professionals.
  • More Job Opportunities: CMAcertification makes job candidates more versatile, and thus more appealing to employers. Professionals who earn CMAs also become members of the IMA, which means more opportunities to network and hear about job opportunities.
  • Career Advancement: Employers often prefer candidates with leadership and administrative skills for upper-level positions. The CMA certification examination requires strategic thinking in decision making, which is essential for people in management positions.
  • Job Security:

    With the rise of artificial intelligence and automated systems overtaking certain types of human labour, professionals need to distinguish themselves with other skills. This certification emphasizes critical thinking, which allows CMA holders to think strategically instead of just crunching numbers. A good CMA might even innovate ways to integrate technological advances.