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+--- Thread: CMA - Certified Management Accountant (/showthread.php?tid=6185)
CMA - Certified Management Accountant - tariqsohail - 07-15-2009
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
- zeeshanh - 07-15-2009
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
- tariqsohail - 07-15-2009
Hi,
The role of management accounting differs from that of public accounting, since management accountants work at the âbeginningâ 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
- Winnie - 07-23-2009
May i know what is the different between CMA & CIMA?
- tariqsohail - 07-24-2009
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
- tariqsohail - 07-26-2009
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 organizationâs respective certifications, allowing automatic award of IMAâs Certified Management Accountant (CMA®) certification for ICWAIâs 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.
âThe ICWAI is a highly regarded organization in one of the fastest growing economic centers in the world,â said Dennis Whitney, CMA, CFM, IMA senior vice president of certification. âThis 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.â
âIMA and ICWAI have a long history of working together on research and conferences and this agreement is the next step of a productive relationship,â said Jim Gurowka, IMA director of international development. âThe demand for highly-skilled management accountants in India is growing and presents a great opportunity for IMA and the CMA.â
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.
âManagement 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,â 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.
- Toronto_Boy - 07-27-2009
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.
- tariqsohail - 07-27-2009
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
- tariqsohail - 07-27-2009
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
- khurramroyal - 07-28-2009
sohal bhai i am from pakistan, planning to go for CMA, please explain what is the scope of CMA in middleeast
regard's
- tariqsohail - 07-28-2009
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
- _Wafa_ - 07-28-2009
What is the minimum qualification required for CMA elegibility?
- _Wafa_ - 07-28-2009
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by zeeshanh</i>
<br />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
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
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.
- tariqsohail - 07-28-2009
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by _Wafa_</i>
<br />What is the minimum qualification required for CMA elegibility?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
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.
- _Wafa_ - 07-29-2009
Thanx Mr tariq )