CMA Certified Management Accountant

Course details

Being a CMA sends a clear message that you have mastery of advanced financial and accounting skills, a high level of competence and serious commitment.

CMA importance

Being a CMA sends a clear message that you have mastery of advanced financial and accounting skills, a high level of competence and serious commitment. A Certified Management Accountant excels at :

• Budgeting
• Forecasting
• Managing costs
• Financial planning
• Analysis
• Control
• Decision support

These areas of expertise come together to empower CMAs to effectively evaluate investment opportunities and support strategic financial decisions based on solid analysis and sound ethics. Today employers value the CMA because it drives long-term growth and represents comprehensive and thorough financial analysis and financial reporting. CMAs fill positions at multinational corporations, private firms, academic institutions and non-profit organizations.

CMA's Importance

CMAs have promising job prospects. The outlook forecasts an 18% increase in demand between 2006 and 2016, which is significant in these challenging times. Increasingly complex corporate tax laws mean employers will have to seek accountants with the solid knowledge in corporate accounting that the CMA provides. Being a CMA also means you are part of a network of international elites through the Institute of Management Accountants (IMA) that connects over 30,000 CMAs.

Today CMAs can look forward to:

• Job opportunities
• Recognition
• Great pay and benefits (CMAs earn on average $30,000 more per year than non-certified accountants)
• Mobility
• Career advancement
• A bright future
• Membership in a professional network

Since the CMA is a highly respected professional designation, it sets you above the competition in the sphere of corporate accounting.

Benefits of the CMA Program

Becoming a CMA means you have to pass a two-part exam. But the time and effort are well worth it because of the rewards of being a CMA. The CMA program sharpens skills and useful competencies that are essential to your career's success:

• Superior corporate accounting knowledge base (theoretical and practical)
• Financial planning, performance, control and financial decision making skills
• Technologically up-to-date
• Critical skills you use in business
• Risk analysis expertise
• High ethical standards
• Personal skills
• Communication skills
• Significant know-how

The CMA Subject Area

Real World Relevance

Take a closer look at the content the CMA covers. With such rich material and pertinent topics, the CMA really symbolizes the height of corporate accounting.

PART 1- Financial Reporting, Planning, Performance and Control

External Financial Reporting Decisions

• Financial statements
• Recognition, measurement, valuation, and disclosure

Planning, Budgeting and Forecasting

• Strategic planning
• Budgeting concepts
• Forecasting techniques
• Budgeting methodologies
• Annual profit plan and supporting schedules
• Top-level planning and analysis

Performance Management

• Cost and variance measures
• Responsibility centers and reporting segments
• Performance measures

Cost Management

• Measurement concepts
• Costing systems
• Overhead costs
• Supply Chain Management
• Business process improvement

Internal Controls

• Governance, risk, and compliance
• Internal auditing
• Systems controls and security measures

PART 2- Financial Decision Making

Financial Statement Analysis

• Basic Financial Statement Analysis
• Financial Ratios
• Profitability analysis
• Special issues

Corporate Finance

• Risk and return
• Long-term financial management
• Raising capital
• Working capital management
• Corporate restructuring
• International finance

Decision Analysis

• Cost/volume/profit analysis
• Marginal analysis
• Pricing

Risk Management

• Enterprise risk

Investment Decisions

• Capital budgeting process
• Discounted cash flow analysis
• Payback and discounted payback
• Risk analysis in capital investment

Professional Ethics

• Ethical considerations for management accounting and financial management professionals
• Ethical considerations for the organization