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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 15 2009 :  02:48:32 AM  Show Profile
The Certified Management Accountant (CMA): A management accountant who possesses the necessary qualification and who possesses a rigorous professional exam earns the right to be known as a certified Management Accountant (CMA). In addition to the prestige that accompanies a professional designation, CMAs are often given greater responsibilities and higher compensation than those who do not have such a designation. Information about becoming a CMA and CMA program can be accessed on the Institute of Management Accountants (IMA - USA).

www.imanet.org

To become a Certified Management Accountant, the following four steps must be completed:

1)File an application for admission and register for the CMA examination

2)Pass all four parts of the CMA examination within a 4 year period

3)Satisfy the experience requirement of two continuous years of professional experience in management and/or financial accounting prior to or within seven years of passing the CMA examination.

4)Comply with the standards of ethical conduct for practitioners of management accounting and financial management.

Please use following link for information on CMA certification;

https://www.imanet.org/certification_started.asp

Please use following link for information on CMA Part-1 Exemption;

http://www.imanet.org/certification_started_waivers.asp

Regards,
Sohail, CMA

Edited by - tariqsohail on Jul 15 2009 02:58:26 AM

zeeshanh
Unregistered Trainee

4 Posts

Posted - Jul 15 2009 :  07:21:22 AM  Show Profile
Hi
Please guide me through for Self Study Preparation for CMA, which books should i purchase, are there any softwares.
Also pls tell me that what are the job tasks that a CMA may need to perform, since i dont have any finance experience please explain in grassroot terms.
Thankyou
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 15 2009 :  12:02:05 PM  Show Profile
Hi,

The role of management accounting differs from that of public accounting, since management accountants work at the “beginning” of the value chain, supporting decision making, planning and control, while audit and tax functions involve checking the work after the fact. Management accountants are valued business partners, directly supporting an organization's strategic goals.

The CMA® designation is an advanced, globally recognized credential that supports management accounting and finance professionals who drive business performance from inside organizations. It is designed to foster the professional development of those who hold it, preparing them to anticipate the needs of their organizations and play an integral role in the strategic decision-making process, while also upholding the highest level of professional and ethical standards. IMA's CMA program embodies an extensive and advanced-level curriculum requiring candidates to demonstrate thorough knowledge of accounting, finance and important related fields, as well as the ability to integrate accounting and financial information into the business decision process. CMA exam topics include economics, business finance, situational analysis, and decision making, with a strong emphasis on ethics. Combined with relevant rule-based subject matter, the four-tiered CMA exam is designed to develop and measure critical thinking and decision-making skills.

You can select any of the following material for exam study, I am ranking following study materials as per my personal judgment;

1) Gleim self study material
2) IMA self study material

Regards,
Sohail, CMA
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Winnie
Unregistered Trainee

Malaysia
2 Posts

Posted - Jul 23 2009 :  6:37:40 PM  Show Profile
May i know what is the different between CMA & CIMA?
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 24 2009 :  01:53:10 AM  Show Profile
You will find many differences as well as similarities between CMA (IMA) and CIMA.
IMA -- is a institute of management accountants of USA.
CIMA -- is institute of management accountants of UK.
For better understanding please check their website;
CMA (IMA):
www.imanet.org
CIMA (UK):
www.cimaglobal.com
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 26 2009 :  12:55:03 PM  Show Profile
IMA Signs Joint Partnership with Institute of Cost and Works Accountants of India; Mutual Recognition Between CMA and ICWAI Certifications

To reflect the globalization of business and the importance of sound management accounting practices in all parts of the world, IMA® and the Institute of Cost and Works Accountants of India (ICWAI), a statutory body enacted under an Act of Parliament of India, have entered into a joint partnership agreement. At the cornerstone of the partnership is a mutual recognition of each organization’s respective certifications, allowing automatic award of IMA’s Certified Management Accountant (CMA®) certification for ICWAI’s Cost and Works Accountant (CWA) certificate holders. With 42,000 qualified professionals, ICWAI is the regulating authority of the cost and management accounting profession in India.

“The ICWAI is a highly regarded organization in one of the fastest growing economic centers in the world,” said Dennis Whitney, CMA, CFM, IMA senior vice president of certification. “This agreement will help IMA further its global presence and will enhance the profile of the CMA certification. ICWAI certified professionals will be able to enjoy the global recognition and mark of distinction that comes with holding a CMA certificate.”

“IMA and ICWAI have a long history of working together on research and conferences and this agreement is the next step of a productive relationship,” said Jim Gurowka, IMA director of international development. “The demand for highly-skilled management accountants in India is growing and presents a great opportunity for IMA and the CMA.”

According to Mr. Whitney, the decision to recognize the ICWAI certification came following a thorough review by the Institute of Certified Management Accountants (ICMA®) Board of Regents and ICMA professional staff. Exam content and cognition levels of exam questions were evaluated to ensure that the two exam programs were of similar scope.

“Management accountancy is a global profession and the signing of this historic Memorandum of Understanding will enable both organizations to highlight the benefits of a professional management accountancy qualification, to share best practice and to train and develop the global business leaders of the future. The global presence of the ICWAI will also be enhanced and members of both Institutes will benefit immensely,” said Kunal Banerjee, president of ICWAI.

Besides mutual recognition of the certifications, IMA and ICWAI will pursue joint applied research projects, develop management accounting guidelines and standards, and develop continuing education programs for members of both organizations.
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Toronto_Boy
Manager

Canada
676 Posts

Posted - Jul 26 2009 :  8:07:54 PM  Show Profile
This MRA would provide competitive advantage to ICWAI members over their competitors in Middle Eastern and North American (US/Canada) markets. There is a race among dynamic players who think globally to capture new opportunities and to reap benefits through alliances.

Edited by - Toronto_Boy on Jul 26 2009 8:20:44 PM
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 26 2009 :  11:07:07 PM  Show Profile
As per my opinion Indian institutes are doing good work for their member. They are providing benefits to their members and also protecting their institutes back in their country by introducing certain clauses in these agreements.
As per above MRA, CMA members of IMA can not get licence to practice in India after getting ICWAI membership which other ICWAI members can do plus only those CMA members can take membership of ICWAI who did their CMA outside India means on one hand they given oppurtunity to their members to achieve membership of internationally recognized IMA which enable them to get good jobs in Middle East, USA/Canada and on the other hand also protect their Indian ICWAI.

Regards,
Sohail
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 26 2009 :  11:11:47 PM  Show Profile
I think (personal thinking may be some others will disagree) Pakistani institute (ICMAP) should also think about getting such kind of MOU with other global management accounting bodies (IMA, CIMA etc.), so that their members can also get previlages outside Pakistan.
Regards,
Sohail
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khurramroyal
Unregistered Trainee

Pakistan
1 Posts

Posted - Jul 27 2009 :  8:49:43 PM  Show Profile
sohal bhai i am from pakistan, planning to go for CMA, please explain what is the scope of CMA in middleeast
regard's
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 28 2009 :  12:09:42 AM  Show Profile
CMA is a well recognize professional qualification in M.E/USA/Canada and other parts of the world and CMA deignation awarded by IMA (Institute of Management Accountant) which was established in 1919.
But alone qualification didn't work basically its a mixture of qualification, experience and peraonal skill which enable somebody for getting good job.
Regards,
Sohail
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_Wafa_
Unregistered Trainee

Bahrain
7 Posts

Posted - Jul 28 2009 :  03:10:38 AM  Show Profile
What is the minimum qualification required for CMA elegibility?
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_Wafa_
Unregistered Trainee

Bahrain
7 Posts

Posted - Jul 28 2009 :  03:14:49 AM  Show Profile
quote:
Originally posted by zeeshanh

Hi
Please guide me through for Self Study Preparation for CMA, which books should i purchase, are there any softwares.
Also pls tell me that what are the job tasks that a CMA may need to perform, since i dont have any finance experience please explain in grassroot terms.
Thankyou



Also try Hock Material.
IMA material is good but I heard that students who are preparing from IMA material are not feeling comfortable in terms of tough questions of CMA exam.
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Jul 28 2009 :  5:06:12 PM  Show Profile
quote:
Originally posted by _Wafa_

What is the minimum qualification required for CMA elegibility?



Bachelors degree from a recognized university and if that university is not in the list of IMA recognized universities then you might need to send your educational documents for evaluation to independent evaluators in USA.

IMA accepting Punjab University Bachelor degree.

Edited by - tariqsohail on Jul 28 2009 5:14:26 PM
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_Wafa_
Unregistered Trainee

Bahrain
7 Posts

Posted - Jul 29 2009 :  02:10:15 AM  Show Profile
Thanx Mr tariq :)
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princesaleem_126@yahoo.co
Unregistered Trainee

Pakistan
16 Posts

Posted - Aug 10 2009 :  12:09:47 PM  Show Profile  Send princesaleem_126@yahoo.co an AOL message
IS CMA another field i mean is it different from CMA(ICMAP) of pakistan.plz tell me abt scope and salary of CMA of pakistan.
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Aug 10 2009 :  3:59:48 PM  Show Profile
CMA (Certified Management Accountant) from IMA - USA (Institute of Management Accouuntant - USA) is different from CMA of ICMAP.

For more detail about similarities or other things, please read thread of "accounting qualifications" on this forum.

Regards,
Sohail
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maqszaman
Junior

Canada
118 Posts

Posted - Sep 13 2009 :  10:13:14 AM  Show Profile
Hi Every Body,

Before you enter into this venture please note that CMA USA is not a recorgnized body. The only accounting designation in the USA is CPA. So you need to evaluate this venture well before you take any decision.

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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Sep 13 2009 :  1:28:24 PM  Show Profile
Mr. Maqszaman,

Before posting this kind of information please check the reliability and worth of an institute like IMA (USA). If IMA's (USA) designation CMA is not recognized and accepted in USA and worldwide among employers then why it is the most respectable designation after CPA in USA among employers. If its not a acceptable in USA then why chartered accounting bodies around the world from U.K to South Asia accepting its qualification. It's one of the most premier designation around the world and if you considering that acceptability and recognition is dependent only on registering with any accounting board then FYI... this kind of thinking only stays in our countries not in USA. And if this is your level of meausrement about an institute's worth then what is your opinion about CFA which is considered to be the most sought after designation around the world.
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MRS
Junior

Pakistan
71 Posts

Posted - Sep 14 2009 :  12:58:01 AM  Show Profile  Send MRS an AOL message
I am ACMA and currently in Pakistan. I was interested in doing CMA from IMA as its an international qualification and as I am preparing to land in Canada I thought this might be beneficial for me. I have enquired from our members in Canada about utility of doing CMA from IMA and the response I got is that CMA (IMA) is a designation which look good only on business cards . Now I read the post from Maqsood Zaman and he is living in Canada so it seems that CMA from IMA is not recognized in Canada. Any comments
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awaisaftab
Partner

Pakistan
1109 Posts

Posted - Sep 14 2009 :  08:23:02 AM  Show Profile  Send awaisaftab a Yahoo! Message
Have the members of ICWAI and IMA-USA have the righsts of audit. I am pursuing ACMA (ICMAP).In my opinion the CMA's should be granted audit rights on the completion of articles or on the basis of practical experience.

Regards,

Awais Aftab
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afaqui
Unregistered Trainee

Pakistan
13 Posts

Posted - Sep 15 2009 :  01:11:08 AM  Show Profile
AOA
as far as my idea, ima cma's are recognized world wide , specially in middle eastern countries, they are prefered to other cma's, however in countries like canada , uk , australia (Queens rule countries) etc where they have their own similar qualification, cma ima does have fewer value.
i am also doing cma from ima with the target of getting good exemptions in canada. M.R.S as u have already acma from pak. u dont really need it.
asad afaqui

Edited by - afaqui on Sep 15 2009 05:33:28 AM
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afaqui
Unregistered Trainee

Pakistan
13 Posts

Posted - Sep 15 2009 :  01:21:02 AM  Show Profile
AOA
i am also planning to migrate to vancouver canada jan 2010, do someone knows , what exemptions , iwill recieve with my cma usa if i go for cma canada, and how much it cost me in money and time
regards
asad afaqui

Edited by - afaqui on Sep 15 2009 01:22:03 AM
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MRS
Junior

Pakistan
71 Posts

Posted - Sep 15 2009 :  02:27:48 AM  Show Profile  Send MRS an AOL message
quote:
Originally posted by afaqui

AOA
i am also planning to migrate to vancouver canada jan 2010, do someone knows , what exemptions , iwill recieve with my cma usa if i go for cma canada, and how much it cost me in money and time
regards
asad afaqui



Dear Asad,
Good to see you on this forum, we have been interacting for a while on immigration forum, I hope you remember :)
I have searched on the website of Society of Management Accountants of Canada and I am sorry to say that they have no exemptions for CMA's from (IMA) where as they are giving direct admission in Strategic Leadership Program to CMA's from Pakistan (i.e. ACMA's).
I have also talked to half a dozen members of our institute working in Canada on good jobs and they have told me that I should not waste my time on CMA (IMA). Now I am not trying to get in to a controversy by judging that CMA(IMA) is good qualification or not but surely it has not much value in Canada, even CIMA (UK) which is considered as mother of all qualifications in management accounting give maximum number of exemptions to ACMA,s (i.e 13 papers) but have no exemptions for CMA's from IMA

May be some one else can give his input on the subject.

By the way you should see a post by Maqsood Zaman on this forum regarding tips for new comers to Canada and also a detailed information by Toronto Boy on the subject.


Edited by - MRS on Sep 15 2009 02:34:31 AM
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afaqui
Unregistered Trainee

Pakistan
13 Posts

Posted - Sep 15 2009 :  03:57:18 AM  Show Profile
thank u MRS, i sure remember u and infact i was considaring calling u tommorow.
yes, i have just visited cma canada site and check MRAs, PAS and advance standings.thanx to maqsood artical and other discussion on forum.
now it is a matter of serious concerns for me. any way it a booost to my confidance that even after a decade, i can easily reconnected to studies.
regards
asad a afaqui


Edited by - afaqui on Sep 15 2009 03:59:06 AM
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zubair_sco78
Unregistered Trainee

18 Posts

Posted - Nov 16 2009 :  11:14:08 AM  Show Profile
Dear MRS,
Please go to CIMA site only 7 papers exemption are available for ICMAP and 6 papers exemption are avaiable for CMA-IMA. Please see below.

Exemption Search Papers
Institution Institute of Management Accountants (US)
Country United States of America
Qualification Certified Management Accountant (US)
Notes Fully Qualified
Papers
C01 Fundamentals of Management Accounting Fully Qualified Members only
C02 Fundamentals of Financial Accounting Fully Qualified Members only
C03 Fundamentals of Business Mathematics Fully Qualified Members only
C04 Fundamentals of Business Economics Fully Qualified Members only
C05 Fundamentals of Ethics, Corporate Governance and Business Law Fully Qualified Members only
P1 Performance Operations Fully Qualified Members only


Exemption Search Papers
Institution Institute of Cost And Management Accountants of Pakistan (ICMAP)
Country Pakistan
Qualification Cost & Management Acc Final Cert (2005 syllabus)
Notes This decision applies to students taking the 2005 syllabus. If students started fr the 1998 syllabus & completed under the 2005 syllabus, they will be eligible for the exemptions. Students graduating with the 1998 syllabus are not eligible.
Papers
C01 Fundamentals of Management Accounting S201 Fundamentals of Cost and Management Accounting (prev. P-I Cost Accounting); and S303 Cost and Management Accounting - Performance Appraisal (prev. P-II Operational Cost Accounting).
C02 Fundamentals of Financial Accounting S101 Fundamental of Financial Accounting (prev. F-I Principles of Accounting).
C03 Fundamentals of Business Mathematics S203 Business Mathematics & Statistics (prev. P-I Quantitative Methods); and S204 Introduction to Information Technology (prev.F-I Computer Systems or Management Information Systems II).
C04 Fundamentals of Business Economics S102 Business Economics (prev. F-I Economics & Business Environment).
C05 Fundamentals of Ethics, Corporate Governance and Business Law S103 Bsn Laws (prev. F-II Industrial & Commercial Laws); S401 Advanced FA and Analysis (prev. P-II Advanced FA); S403 Corp Laws & Secretarial Practices (prev. P-II Corp Laws & Secr Prac); and S501 Fin Reporting (prev. P-III Fin Rptg).
F1 Financial Operations S301 Fin Acc (prev. F-II Fin Acc); S302 Business Tax (prev. P-II Business Tax); S401 Advanced FA & Analysis (prev. P-II Advanced FA); S501 Fin Reporting (prev. P-III Fin Reporting); and S601 Strategic Fin Mgt (prev. P-IV Strategic Fin Mgt).
P1 Performance Operations S303 Cost and Management Accounting - Performance Appraisal (prev. P-II Operational Cost Accounting).

Regards,
Zubair
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zubair_sco78
Unregistered Trainee

18 Posts

Posted - Nov 16 2009 :  11:17:39 AM  Show Profile
Dear MRS,
Please see below the exemption offered by ACCA. Only 3 papers exemption to ICMAP members and 7 papers exemption for CMA - IMA members.

ACCA Qualification - Exemptions

Institution INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN
Programme INSTITUTE OF COST AND MANAGEMENT ACCOUNTING OF PAKISTAN - Graduates from 01-DEC-2001 to 31-DEC-2007





Completion of the above programme provides exemption from the following paper(s):

Paper Title
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting




ACCA Qualification - Exemptions

Institution INSTITUTE OF MANAGEMENT ACCOUNTANTS
Programme INSTITUTE OF CERTIFIED MANAGEMENT ACCOUNTANTS - All Graduates





Completion of the above programme provides exemption from the following paper(s):

Paper Title
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting
F4 Corporate and Business Law
F5 Performance Management
F8 Audit and Assurance
F9 Financial Management


Regards,
Zubair
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Nov 25 2009 :  3:02:07 PM  Show Profile
Please read very important information from IMA.

"We are committed to maintaining the value of your CMA®–the gold standard credential for accountants and financial professionals working in business. As someone who has achieved CMA status and has been dedicated to the principles this certification represents, you will undoubtedly be interested to learn about some new developments in the CMA program. Please note that these changes have no impact on your CMA credential or your annual requirements to maintain active CMA status.
After extensive market research, we are reorganizing the CMA curriculum and exam format to align more closely with the critical knowledge, skills, and competencies that CMAs use on the job every day. The new program will maintain the rigor and relevance for which the CMA is highly regarded. At the same time, we have made evolutionary changes to adapt the program to the needs of today's professionals and ensure its continued value as a career-enhancing tool for CMA candidates.
By focusing specifically on a body of advanced accounting and financial knowledge, the program will now consist of two exam parts providing a more efficient format.
The two parts will consist of four hours each (100 multiple-choice questions and two 30-minute essay questions). The exams will cover the following curriculum topics:
PART I – Financial Planning, Performance and Control
1)Planning, budgeting, and forecasting
2)Performance measurement
3)Cost management
4)Internal controls
5)Professional ethics
PART II – Financial Decision Making
1)Financial statement analysis
2)Corporate finance
3)Decision analysis and risk management
4)Investment decisions
5)Professional ethics
We are confident that this evolution of the CMA program will ensure the credential's continued relevance and prestige in the marketplace.
To learn more about the new CMA program go to www.CMA2010.org or feel free to contact me at (800) 638-4427, ext. 1575 or +1 (201) 573-9000 for international callers"


Regards,
Sohail

Edited by - tariqsohail on Nov 25 2009 3:06:49 PM
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zubair_sco78
Unregistered Trainee

18 Posts

Posted - Nov 28 2009 :  1:37:56 PM  Show Profile
quote:
Originally posted by zubair_sco78

Dear MRS,
Please see below the exemption offered by ACCA. Only 3 papers exemption to ICMAP members and 7 papers exemption for CMA - IMA members.

ACCA Qualification - Exemptions

Institution INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF PAKISTAN
Programme INSTITUTE OF COST AND MANAGEMENT ACCOUNTING OF PAKISTAN - Graduates from 01-DEC-2001 to 31-DEC-2007





Completion of the above programme provides exemption from the following paper(s):

Paper Title
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting




ACCA Qualification - Exemptions

Institution INSTITUTE OF MANAGEMENT ACCOUNTANTS
Programme INSTITUTE OF CERTIFIED MANAGEMENT ACCOUNTANTS - All Graduates





Completion of the above programme provides exemption from the following paper(s):

Paper Title
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting
F4 Corporate and Business Law
F5 Performance Management
F8 Audit and Assurance
F9 Financial Management


Regards,
Zubair

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zubair_sco78
Unregistered Trainee

18 Posts

Posted - Nov 28 2009 :  1:53:33 PM  Show Profile
Dear Sohail,
What do you think. Will this change in syllabus effect the exemption policies of other institutes?

Because they have removed economics and syllabus is shorter than before. Please correct me if i am wrong.

As you have qualified so u know better than me.

Regards,
Zubair
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MRS
Junior

Pakistan
71 Posts

Posted - Dec 01 2009 :  1:33:43 PM  Show Profile  Send MRS an AOL message
Dear Zubair,
Sorry for this belated reply as i was in canada for last one month. I am afraid but your information is outdated, recently the CIMA and ICMAP have signed a MRA after which the ACMA's are required to give four papers to qualify the CIMA. In other words after attempting one paper we will clear the Managerial level of CIMA. The information is mentioned on CIMA website just search for the term "CPGA".

Here is the link for those interested.

http://www2.cimaglobal.com/cps/rde/xchg/SID-0A82C289-12B2B478/live/root.xsl/31349.htm

I must tell you that my post was not meant for any debate on which is the more valuable qualification i.e. ICMAP or IMA but it was just my opinion of the given facts. As already mentioned earlier it’s very easy to pass CMA from IMA and few people have done it by just preparing for 20 to 25 days where as in ICMAP we can never imagine about passing in this short time. May be that’s why my opinion seems to be biased :) any ways it’s my opinion and you have right to agree or disagree :)

Keep smiling

MRS

quote:
Originally posted by zubair_sco78

Dear MRS,
Please go to CIMA site only 7 papers exemption are available for ICMAP and 6 papers exemption are avaiable for CMA-IMA. Please see below.

Exemption Search Papers
Institution Institute of Management Accountants (US)
Country United States of America
Qualification Certified Management Accountant (US)
Notes Fully Qualified
Papers
C01 Fundamentals of Management Accounting Fully Qualified Members only
C02 Fundamentals of Financial Accounting Fully Qualified Members only
C03 Fundamentals of Business Mathematics Fully Qualified Members only
C04 Fundamentals of Business Economics Fully Qualified Members only
C05 Fundamentals of Ethics, Corporate Governance and Business Law Fully Qualified Members only
P1 Performance Operations Fully Qualified Members only


Exemption Search Papers
Institution Institute of Cost And Management Accountants of Pakistan (ICMAP)
Country Pakistan
Qualification Cost & Management Acc Final Cert (2005 syllabus)
Notes This decision applies to students taking the 2005 syllabus. If students started fr the 1998 syllabus & completed under the 2005 syllabus, they will be eligible for the exemptions. Students graduating with the 1998 syllabus are not eligible.
Papers
C01 Fundamentals of Management Accounting S201 Fundamentals of Cost and Management Accounting (prev. P-I Cost Accounting); and S303 Cost and Management Accounting - Performance Appraisal (prev. P-II Operational Cost Accounting).
C02 Fundamentals of Financial Accounting S101 Fundamental of Financial Accounting (prev. F-I Principles of Accounting).
C03 Fundamentals of Business Mathematics S203 Business Mathematics & Statistics (prev. P-I Quantitative Methods); and S204 Introduction to Information Technology (prev.F-I Computer Systems or Management Information Systems II).
C04 Fundamentals of Business Economics S102 Business Economics (prev. F-I Economics & Business Environment).
C05 Fundamentals of Ethics, Corporate Governance and Business Law S103 Bsn Laws (prev. F-II Industrial & Commercial Laws); S401 Advanced FA and Analysis (prev. P-II Advanced FA); S403 Corp Laws & Secretarial Practices (prev. P-II Corp Laws & Secr Prac); and S501 Fin Reporting (prev. P-III Fin Rptg).
F1 Financial Operations S301 Fin Acc (prev. F-II Fin Acc); S302 Business Tax (prev. P-II Business Tax); S401 Advanced FA & Analysis (prev. P-II Advanced FA); S501 Fin Reporting (prev. P-III Fin Reporting); and S601 Strategic Fin Mgt (prev. P-IV Strategic Fin Mgt).
P1 Performance Operations S303 Cost and Management Accounting - Performance Appraisal (prev. P-II Operational Cost Accounting).

Regards,
Zubair


Edited by - MRS on Dec 01 2009 1:37:44 PM
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Dec 01 2009 :  2:26:19 PM  Show Profile
quote:
Originally posted by zubair_sco78

Dear Sohail,
What do you think. Will this change in syllabus effect the exemption policies of other institutes?

Because they have removed economics and syllabus is shorter than before. Please correct me if i am wrong.

As you have qualified so u know better than me.

Regards,
Zubair



Dear Zubair,

Though I am not very much in favor of this change but IMA made this big shift after a very detailed survey from all over the world.
They eleminated few topics and added few new topics in the syllabus but they will test those eleminated topics as well in the exams by assuming that students have already basic level knowledge of elemintaed subjects before appearing in exams.

Change is always important to appear separate from group and whether this change is good or bad only time will tell us.

Following I am quoting list of elminated and added topic in the revised syllabus;

Eliminated portions

Business Economics

Global Business

Information Management

External Financial Statement Reporting

Strategic Marketing

Portion of Strategic Planning subsection

New Sections

Top-Level Planning

Financial Performance Metrics

Analytical Issues in Financial Accounting

Managing Financial Risk

Raising Capital

Corporate Restructuring

Risk Assessment

Valuation


IMA is planning to shift their concentration from middle to managerial/CFO level positions..and to do that thing they need this change.

Regards,
Sohail

Edited by - tariqsohail on Dec 01 2009 2:30:55 PM
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haseebacca
Unregistered Trainee

Pakistan
12 Posts

Posted - Dec 03 2009 :  01:34:30 AM  Show Profile  Send haseebacca a Yahoo! Message
i m from pakistan i just want to know that,is their any ins of CMA in pakistan n exam held in pakistan?
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Dec 03 2009 :  3:42:56 PM  Show Profile
Haseeb,

Please clarify you mean to say CMA (IMA-USA) or CMA (ICMAP-Pakistan)?
If you are asking about CMA (IMA) then I don't know any institution but yes exams are held in prometric centers in Lahore, Karachi & Islamabad.
You can visit http://www.prometric.com/default.htm to check centers near to your place.

Regards,
Sohail

Edited by - tariqsohail on Dec 03 2009 3:45:21 PM
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Mujahid
Senior

Pakistan
305 Posts

Posted - Dec 03 2009 :  5:42:00 PM  Show Profile  Send Mujahid a Yahoo! Message
Rehne de tariq. Tu aaj tak mera KSA ka VISA na lagwa saka. Reh gaya oye!
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zubair_sco78
Unregistered Trainee

18 Posts

Posted - Dec 05 2009 :  2:11:29 PM  Show Profile
Dear MRS,
You can see that CIMA-UK is giving exemption of 11 Papers to ICWA-India and ICWA is giving full exemption to CMA-IMA and CIMA-UK is giving only 6 papers exemption to CMA-IMA. Do you understand this? What kind of criteria these bodies have?

Its mean a person who have passed CMA-IMA can get ICWA and after getting ICWA he or she can get 11 papers exemption in CIMA-UK.

I think this is only marketing and Mutual agreements which enables a institute to get exemptions and other benefits of other institute.

I hope you will agree with me.

Regards,
Zubair



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kamranACA
Partner

Pakistan
2499 Posts

Posted - Dec 05 2009 :  2:37:31 PM  Show Profile
Zubair

Although its not directly a topic of my concern, still I feel like sharing that one may not successfully implement the plan of getting 11 papers exemptions of CIMA-UK by adopting the route you have mentioned for a CMA-IMA.

Typically institutes provide exemptions against "actually" qualified members of the other institute. It means that CIMA-UK will provide exemption to the persons who actually apeared in exams and passed papers of Indian Institute. The one's who get a "designation" on the basis of some other exemptions (say CMA-IMA) may not use such "designation" for getting exemptions on its own basis.

I am not confirmed about exact procedure of CIMA but ICAEW is following same rule. You please check it with CIMA.

Regards,



KAMRAN.
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Dec 05 2009 :  9:27:57 PM  Show Profile
I agree with Mr. Kamran.

Mr. Zubair,
I don't understand why somebody need to adopt this kind of route. Suppose if somebody having CMA (IMA) and AICWA (ICWAI) then why he need membership of 3rd management accounting body.

Another point is why you are considering CIMA as a meter to check management accounting body rating. All bodies are doing excellent work for their member. You need to decide where you have plan to work and then check which managment accounting body is more prefferd in that area and feasible for you as well.

Regards,
Sohail
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MRS
Junior

Pakistan
71 Posts

Posted - Dec 07 2009 :  10:48:57 AM  Show Profile  Send MRS an AOL message
Dear Zubair,

I think you got the answer from Mr.Kamran, i do agree with your point that signing of MRA's are marketing strategies and have already mentioned this point before in my post but dear you will agree that these marketing startegies are developed to capture a market and my point is that ICMAP and ICWAI have that sizeable market which CIMA is trying to capture.

The point is that every institute of management accountancy is not the target market for CIMA.

Again thats my assessment dear and every one has right to agree or disagree.

Have a nice day

M.Rizwan

quote:
Originally posted by zubair_sco78

Dear MRS,
You can see that CIMA-UK is giving exemption of 11 Papers to ICWA-India and ICWA is giving full exemption to CMA-IMA and CIMA-UK is giving only 6 papers exemption to CMA-IMA. Do you understand this? What kind of criteria these bodies have?

Its mean a person who have passed CMA-IMA can get ICWA and after getting ICWA he or she can get 11 papers exemption in CIMA-UK.

I think this is only marketing and Mutual agreements which enables a institute to get exemptions and other benefits of other institute.

I hope you will agree with me.

Regards,
Zubair





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tahir_azmat2002
Unregistered Trainee

Kuwait
23 Posts

Posted - Dec 12 2009 :  6:28:58 PM  Show Profile
Dear Mr Tariq,


Kindly advise that does new CMA programme also affect any changes in exemption policies to other accounting bodies. Like before ACCA offering 7 paper exemptions after completing CMA exam. is it still same or any changes in exemption policy also ???


Thanking for your kind assistance in this matter.


Regards

Azmat Tahir
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Dec 12 2009 :  11:24:31 PM  Show Profile
Dear Tahir,

Only ACCA & other bodies can tell you about this thing..but I think 7 paper exemption in ACCA will stay for old CMA's but may be they change (Increase/decrease) for new CMA's but its too early to say anything because IMA is going to launch new CMA program in May/June next year.

Regards,
Sohail
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jihad
Unregistered Trainee

Jordan
8 Posts

Posted - Dec 13 2009 :  7:34:36 PM  Show Profile
Mr MRS ,

Im jihad from jordan and i passed all 4 parts of the CMA-IMA from 2 years ago (old one) , and it will never at all to any one to pass it in 20 or 25 days . For the great person with full time it will take at least 1 yeare .

I was studieng 3-4 hours aday with weekends althou i spend 1 yeare and half the year to finish all 4 parts.

with all my regards
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MRS
Junior

Pakistan
71 Posts

Posted - Dec 14 2009 :  1:30:27 PM  Show Profile  Send MRS an AOL message
quote:
Originally posted by jihad

Mr MRS ,

Im jihad from jordan and i passed all 4 parts of the CMA-IMA from 2 years ago (old one) , and it will never at all to any one to pass it in 20 or 25 days . For the great person with full time it will take at least 1 yeare .

I was studieng 3-4 hours aday with weekends althou i spend 1 yeare and half the year to finish all 4 parts.

with all my regards




With due respect Mr.Jihad i never said that one can pass CMA in 20 to 25 days the point was that if one can prepare properly for 25 days then you can pass one part of CMA and that 25 days means full 25 days . As you have already mentioned that one can clear the CMA (IMA) in one year this proves my point.

Any ways leave it yaar does it matter???

I will like to add some information here, that IMA is ready to sign the MRA with ICMAP the same one which was signed with ICWAI but it is ICMAP which is reluctant to sign this MRA due to the fact that after signing this MRA the new students will try to get the ICMAP membership through IMA route which is less time consuming and require less efforts, and guess what i am supporting this argument :))

Keep smiling

M.Rizwan
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Toronto_Boy
Manager

Canada
676 Posts

Posted - Dec 14 2009 :  7:37:20 PM  Show Profile
Dear MRS

I think ICWAI's MRA with IMA is for students appearing for IMA exams while living outside India. So, students can't get ICWAI's membership if they qualified for CMA(IMA) while being in India.

Pakistanis living in middle east would get most benefit of such potential MRA, if it happens, as Pakistanis living in other countries like Australia, UK or Canada would prefer CMA of those countries over CMA(IMA).

Lets see...

Regards

Edited by - Toronto_Boy on Dec 14 2009 7:38:20 PM
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jihad
Unregistered Trainee

Jordan
8 Posts

Posted - Dec 14 2009 :  9:30:14 PM  Show Profile
Dear MRS,

Im so glad to be part of this discussion ,but if you plz would you tell me what is the meaning of (MRA) as a concept.


my dear im smiling now

Edited by - jihad on Dec 14 2009 9:31:56 PM
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Toronto_Boy
Manager

Canada
676 Posts

Posted - Dec 14 2009 :  10:50:18 PM  Show Profile
Dear

MRA stands for "Mutual Recognition Agreement" between two associations. It is formal acceptance arrangement between associations to provide quick membership to members of other association. Like being member if CMA(IMA), one can get membership of ICWAI (India) without going through detailed regular requirements.

Regards
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MRS
Junior

Pakistan
71 Posts

Posted - Dec 15 2009 :  2:16:35 PM  Show Profile  Send MRS an AOL message
quote:
Originally posted by Toronto_Boy

Dear MRS

I think ICWAI's MRA with IMA is for students appearing for IMA exams while living outside India. So, students can't get ICWAI's membership if they qualified for CMA(IMA) while being in India.

Pakistanis living in middle east would get most benefit of such potential MRA, if it happens, as Pakistanis living in other countries like Australia, UK or Canada would prefer CMA of those countries over CMA(IMA).

Lets see...

Regards



Dear Toronto Boy,

The information i have is based on my communication with few National Council members and according to that the only restriction is on the right of practice by the IMA members seeking ICWAI membership.

M.Rizwan
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tariqsohail
Semi Senior

United Arab Emirates
210 Posts

Posted - Dec 15 2009 :  9:10:15 PM  Show Profile
quote:
Originally posted by MRS

quote:
Originally posted by Toronto_Boy

Dear MRS

I think ICWAI's MRA with IMA is for students appearing for IMA exams while living outside India. So, students can't get ICWAI's membership if they qualified for CMA(IMA) while being in India.

Pakistanis living in middle east would get most benefit of such potential MRA, if it happens, as Pakistanis living in other countries like Australia, UK or Canada would prefer CMA of those countries over CMA(IMA).

Lets see...

Regards



Dear Toronto Boy,

The information i have is based on my communication with few National Council members and according to that the only restriction is on the right of practice by the IMA members seeking ICWAI membership.

M.Rizwan



Mr. MRS,

I am adding to your information that only those CMA (IMA) can take ICWAI membership who passed their all CMA exams outside India.

Further adding to your information..With respect to all, CMA (IMA) is far more strong designation in Middle East as compare to local designation of management accounting bodies. I will be in favour that ICMAP should move forward to sign this MRA to serve their members who are doing jobs in this part of the world.

Regards,
Sohail
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maqszaman
Junior

Canada
118 Posts

Posted - Dec 19 2009 :  03:36:03 AM  Show Profile
Hi Everybody,

I am keenly monitoring the discussion on this forum. I know many forum members felt offending when I said that CMA-US is not a recognized in US. I have been living in Canada for a long time and travel US, every other month. On top of my CMA designation from Pakistan that I got some 17 years ago I also hold accounting designations in these countries. I gave my advice truly based on my experience.

An answer to Awais Asif is that CMA is a registered body in US as ICSP in Pakistan (registered under Companies Ordinance) and has no powers at all. I know some people are very smart and they can choose the routes they want. Please also note that Canadian Institutes won't grant you exemption unless you passed the exam from respective institute. We can’t enforce on our thoughts on someone else.

Latest development is that a guy with CA inter from Pakistan, CMA-US and CIA-US has been denied to write the CPA exam because CMA-US is not an approved body. Please let me know if any CMA-US has been approved to write the CPA exam for the benefit of other members.

Wish you all the best

Edited by - maqszaman on Dec 19 2009 9:40:15 PM
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afaqui
Unregistered Trainee

Pakistan
13 Posts

Posted - Dec 23 2009 :  12:39:17 AM  Show Profile
MRS, TORONTO BOY, MAQSOODZAMAN, TARIQ BHAI AND ALL OTHERS AOA
I HAVE JUST READ THROUGH THIS TOPIC AND GET SOME VERY VALUABLE INFO. IT IS INCOURAGING TO KNOW THAT ACCA ,CIMA AND ACWAI ARE OFFERING EXEMPTION TO CMA FROM IMA U.S. A.
FOR NEW STUDENTS, I RECOMMEND CMA THEN ICMAP, CZ ICMAP TOOK TOO MUCH TIME AND EFFORTS FOR A QUALIFICATION THAT DOES OFFER MORE OR LESS AS CMA,
I KNOW SEVERAL PEOPLE WHO HAVE SPENT 2-3 YEARS FULL TIME FOR ICMAP AND YET DIDNT GET QUALIFIED.
EVEN IF IT IS SUPERLATIVE THEN CMA , IT REQUIRED TOO MUCH EFFORTS N TIME FOR TOO LITTLE REWARD.
IT IS MY PERSONAL POINT OF VIEW, AND MANY PEOPLE MAY NOT AGREE WITH THIS IDEA BUT IT THINK CMA IS BETTER ROUTE, AFTER DOING CMA , ONE CAN GO FOR FURTHER QUALIFICATIONS AND CAN GET MORE IN LESS TIME.
WISHING ALL OF U A VERY PLESENT AND EMAN AFROZ 2010
AFAQUI


Edited by - afaqui on Dec 23 2009 12:58:02 AM
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MRS
Junior

Pakistan
71 Posts

Posted - Dec 23 2009 :  12:19:19 PM  Show Profile  Send MRS an AOL message
@ Mr.Farooqui

Good to see your post, When are you leaving for canada???

@ All

New year Greetings to all forum members
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