CMA in USA: Benefits, Requirements, Structure, Syllabus, & Scope for US CMA Course Image
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CMA in USA: Benefits, Requirements, Structure, Syllabus, & Scope for US CMA Course

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Do you aspire to be certified accounting professionals with financial accounting and strategic management expertise? Do you wish to earn more than twice the regular MBA and MS graduates? If the answer is yes, CMA in USA is the right choice.

The CMA USA full form is Certified Management Accountants, which is an opportunity to enhance your career possibilities within less than 12 months. Offered by the Institute of Management Accountants (IMA), the US CMA course is the highest credential in the field of accounting and management.

So, if you have completed your undergraduate degree and planning to pursue a Certified Management Accountant in USA course, this blog will surely serve your purpose. Here we have discussed all CMA course details including its requirements, costs, registration process, and much more.

Table of Contents
  1. Why Study CMA in USA?
  2. What is CMA USA Eligibility?
  3. What is US CMA Course Structure & Syllabus?
  4. CMA USA Registration Process
  5. What is US CMA Course Fee?
  6. CMA in USA Exam Dates
  7. What are US CMA Scholarships?
  8. CMA USA Job Opportunities
  9. CMA in USA vs India
  10. Frequently Asked Questions About CMA in USA

Why Study CMA in USA?

CMA courses in USA are a global benchmark for management accountants and financial professionals. The IMA today offers the CMA course in around 150 countries wherein they equip the students with all the required knowledge and skills to excel in this domain. But why CMA in USA? Let us find out:

  • CMA USA is recognized by developing countries like China, India, UK, Canada, and Middle East countries. Apart from learning various skills you also gain worldwide exposure and business ethics at an international level.
  • The CMA USA duration is another reason to opt for this course. It is a short duration course of 6-9 months, unlike MBA and MS which on average take 1.5 to 2 years to be completed.
  • You may also avail different scholarships for CMA in USA. Over $35 million worth of scholarships has been provided by IMA to help students pursue the CMA certification at no cost.
  • According to IMA’s Global Salary Survey, a certified management accountant earns an average base salary of $110,000 per year. It is much higher than a regular MBA or MS graduate’s base salary.

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What is CMA USA Eligibility?

A class 12th certificate and an undergraduate degree are the two most important US CMA eligibility for Indian students. The IMA has made the provision for undergraduates to have another seven years to produce the documents upon successful acquisition of the CMA USA certificate.

The CMA USA eligibility can be summarized as below:

  • IMA Membership
  • Class 12th/ Higher Secondary Certificate or Associate Degree in USA is mandatory to become a certified management accountant in USA.
  • An undergraduate degree in a relevant discipline.
  • Minimum 2 years of professional experience in the field of Finance, Accounting or Management.

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What is US CMA Course Structure & Syllabus?

The US CMA course is divided into two parts: Financial Planning, Performance and Analytics (Part 1) and Strategic Financial Management (Part 2). You may appear for the two parts of CMA courses in USA in any order but you will only be qualified for the next one if you clear the first examination.

To talk about the US CMA exam pattern, you will be given 4 hours to complete 100 MVQ questions and 30 mins for two essays. Further, the CMA USA syllabus is structured on 12 different topics pertaining to both parts of the course.

A glimpse of the CMA USA syllabus is given below:

Financial Planning, Performance and Analytics

The first part of the US CMA course comprises 100 multiple choice questions and 2 essay-type questions. It is scored on a scale of 0 to 500, and a minimum score of 360 in this section is a must to qualify for Certified Management Accountant in USA.

The CMA US subjects or topics for Part 1 include:

  • Technology and Analysis
  • Internal Controls
  • Cost Management
  • Performance Management
  • Planning, Budgeting and Forecasting
  • External Financial Reporting Decisions

Strategic Financial Management

The Certified Management Accountant in USA exam pattern of the second section is similar to the first. You have 100 MCQs and two essay questions of 30 minutes. You are required to score 360 marks out of the 500 scoring system. So, 50% of the MCQ questions must be correct.

The CMA US subjects or topics for Part 2 include:

  • Financial Statement Analysis
  • Corporate Finance
  • Decision Analysis
  • Risk Management
  • Investment Decisions
  • Professional Ethics

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CMA USA Registration Process

You may apply for Certified Management Accountant in USA course through online mode. The steps involved in its registration process are discussed below:

  1. The first step is to become a member of the IMA. To become a member of the Institute of Management Accountants (IMA), one has to fill in the registration form depending on the career status – a professional membership, an academic membership, or a student membership.
  2. Pay the required registration fees. After you are an IMA member, you have to pay a one-time entrance fee to be able to sit for the exam. Since there are two parts to the exam, you will have to pay the US CMA course fees at least twice. If in case you fail a part of the exam, you’ll have to pay the fee an additional time to retake it.
  3. Once you complete the registration process and pay the US CMA course fees, you’ll receive a confirmation email with your authorization number and further instructions to select your Prometric test centre for the CMA USA exam.

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What is US CMA Course Fee?

The US CMA program fees are different for different groups. They are as follows:

CMA Fees for Professional Members

CMA Fees for Student/ Academic Members

  • CMA Entrance Fees: $280
  • CMA Exam Fee: $460 per part
  • CMA Entrance Fees: $210
  • CMA Exam Fee: $345 per part

Note: Along with CMA entrance fee, additional IMA membership fee is also required

CMA in USA Exam Dates 2022

CMA in USA is both an online and offline test administered at hundreds of testing facilities around the world. You can either appear for the test online via remote proctoring instead of in-person at a Prometric centre. Prometric will supervise your exam from your computer’s webcam while taking the test at home through ProProctor.

With three two-month testing windows each year, you can sit for the exam at a time and place according to your convenience. Us CMA exam dates for 2022 are as follows:

May-June 2022

  • First Exam Date: May 1
  • Last Exam Date: June 30
  • Last Date of Registration: June 15

September-October 2022

  • First Exam Date: September 1
  • Last Exam Date: October 31
  • Last Date of Registration: October 15

January-February 2022

  • First Exam Date: January 1
  • Last Exam Date: February 28
  • Last Date of Registration: February 15

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What are US CMA Scholarships?

A CMA scholarship enables students to complete their CMA course with no cost or offers financial support to bear the course expenses. More than 20,000 students globally have received the CMA Scholarship till date. To apply for CMA scholarships, you must visit the official IMA website and check for the ones that you may opt for. Do also check the deadlines and eligibility criteria for the same. We have discussed some of the CMA scholarships below:

Scholarship Name

Awarded to/ Benefits

IMA Century Scholarship Award

Available to undergraduate junior and senior students of IMA Endorsed Schools or Schools with IMA Student Chapters.

Benefits: $7,500

CMA Scholarship Program

Outstanding students nominated by faculty on various aspects.

Benefits: Students can prepare and take the CMA exam for free.

IMA Doctoral Scholars Program

Meritous students at various stages in their doctoral education who work on studies that will advance management, accounting, research and practice in accredited programs.

Benefits: $10,000

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CMA USA Job Opportunities

The scope of CMA in USA is far and wide. CMA USA certifications open up new opportunities in a variety of industries, including banking and financial services, manufacturing, healthcare, insurance, pharmaceuticals and so on. Some of the popular and highly paid CMA USA jobs are mentioned below:

Job Title

Average Salary Per Year

Certified Public Accountant

$55,000 - $149,000

Financial Controller

$66,000 - $131,000

Senior Financial Analyst

$68,000 - $106,000

Accounting Manager

$57,000 - $114,000

Finance Manager

$67,000 - $123,000

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CMA in USA vs India

Although the aims and objectives of CMA across the world are the same, there are certain differences in various aspects for every country. Here we have discussed the CMA course in USA vs India:

Particulars

CMA in USA

CMA in India

Administered By

Institute of Management Accountants

Institute of Cost Accountants of India

Course Duration

Maximum 1 year

3 years

Requirements

Undergraduate degree + Work experience

10+2

Exam Structure

2 Parts (1 Level)

3 Levels – 20 Papers

Articleship

NIL

6 months

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So that was all about CMA USA course details. A CMA in USA is a compliment to your existing qualifications and skills that helps you climb the ladder of your career faster than others. So, if you are looking forward to upscaling your career prospects, analyze the above-mentioned information and join the USA CMA course today.

For further guidance and assistance, do get in touch with our Yocket Professionals.

Frequently Asked Questions About CMA in USA

Ques. What is US CMA course?

Ans. US CMA course is a certified course specializing in the Management Accounting domain. It covers various topics of Management Accounting and trains students to tackle real-life business situations.

Ques. What are career prospects for CMA in USA?

Ans. A Certified Management Accountant in USA finds employment opportunities in top companies like Accenture, Capgemini, Infosys, Deloitte, etc,

Ques. What is CMA in USA course duration?

Ans. The CMA USA course can be completed in a minimum of 6 months. However, IMA gives 3 years for a student to complete the course.

Ques. Is CMA in USA valid in India?

Ans. A CMA degree from USA is recognized all over the world.

Ques. What is CMA USA course fees in Indian rupees?

Ans. The overall CMA USA course fees in Indian rupees are around 71,469 INR for students and 95,292 INR for professional members.

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