The Certified Management Accountant (CMA) is a globally recognised premier management accounting credential administered by the Institute of Management Accountants (IMA), USA. With recognition across 170+ countries, the US CMA programme attains exceptional international standing.
As the most sought-after accounting certification, the US CMA course garners significant worldwide attention from companies and recruiters. The advanced-level credential encompasses vital subjects, including accounting, business, finance, and analytics, and is tailored for accountants and financial professionals.
Read on to learn more about the US CMA course details in this article.
Eligibility Criteria for CMA Course
The US CMA eligibility criteria for admission to the course are structured into three stages:
Foundation Course:
- Completing the Senior Secondary Examination under a recognised Board or an assessment considered equal by the Central Government.
- Alternatively, candidates can qualify by passing the National Diploma in Commerce Examination conducted by the All India Council for Technical Education or any State Board of Technical Education under its authority. The Diploma in Rural Service Examination conducted by the National Council of Higher Education is also accepted.
Intermediate Course:
- Applicants should have cleared the Senior Secondary School Examination and the Foundation Course offered by the ICAI.
- The eligibility criteria can be met through either graduation in any field, except for Fine Arts, or completing the Entry Level Part I CAT Examination administered by the ICAI.
- Clearing the Foundation level of ICSI or Intermediate level of ICAI or passing the Entry Level Part 1 Examination along with the Competency Level Part II Examination of CAT of the Institute.
Final Course:
- Candidates must have completed the Intermediate ICAI course.
- Additionally, they should have concluded 15 months of practical training.
US CMA Fees
The self-paced recorded US CMA course fees at Lakshara academyare mentioned below.
| Fees for Live CMA Training | INR 28,000 + GST |
| Fees for Live CMA + Financial Modelling Training | INR 29,000 +GST |
US CMA Course Duration
The US CMA course offers aspiring candidates flexibility in completing their certification journey. Passing both parts of the exam takes 12 to 18 months, but dedicated study can shorten this to 6 to 9 months. Candidates have a maximum of 3 years from registration to complete the course and earn the certification.
Exam Windows and Flexibility
The US CMA programme provides three annual exam windows:
- January / February Exam Window
- May / June Exam Window
- September / October Exam Window
Applicants can select the most suitable window based on their schedule and study progress, enabling adequate preparation for the CMA examination.
Exam Duration and Structure
The online US CMA exam comprises two parts, each lasting 4 hours. This duration allows candidates ample time to showcase their knowledge and understanding of Management Accounting concepts. The division into two parts lets candidates focus on specific curriculum sections, optimising their study time.
US CMA Syllabus
The US CMA syllabus comprises three levels: Foundation, Intermediate, and Final. Each level covers various aspects of accounting, management, and related fields.
Below is a comprehensive list of US CMA subjects:
Foundation Course Subjects:
| Fundamentals of Economics And Management |
| Fundamentals of Business Mathematics and Statistics |
| Fundamentals of Laws and Ethics |
| Fundamentals of Accounting |
Intermediate Course Subjects:
Group I:
| Financial Accounting |
| Laws and Ethics |
| Direct Taxation |
| Cost Accounting |
Group II:
| Indirect Taxation |
| Company Accounts & Audit |
| Cost & Management Accounting and Financial Management |
| Operations Management & Strategic Management |
Final Course Subjects:
Group I:
| Corporate Laws & Compliance |
| Strategic Financial Management |
| Strategic Cost Management – Decision Making |
| Direct Tax Laws and International Taxation |
Group II:
| Corporate Financial Reporting |
| Indirect Tax Laws and Practice |
| Cost and Management Audit |
| Strategic Performance Management and Business Valuation |
US CMA Exam Structure
| Section | Format | Time |
| Financial Planning, Performance, and Analytics | 100 MCQs, two essay questions | 4 hours |
| Strategic Financial Management | 100 MCQs, two essay questions | 4 hours |
Time Allocation
- Each part of the CMA exam has a time limit of 4 hours
- 75% of the time (3 hours) is allotted for the objective section (MCQs)
- 25% of the time (1 hour) is allocated for the essay questions
Exam Administration
- Prometric administers the CMA exam at various locations worldwide
- Candidates must schedule the exam at least 72 hours in advance
- It is recommended to arrange the exam at least four weeks prior for better planning
Why Study CMA?
Advantages of pursuing the US CMA course:
Diverse career opportunities: The US CMA course opens up rewarding and in-demand job profiles, such as Management Accountant, Cost Accountant, Budget Analyst, Senior Accountant, Financial Analyst, and Finance Manager, among others.
Abundant growth prospects: Completing the CMA course provides excellent opportunities for career advancement. Graduates can work for reputed companies or pursue higher studies to bolster their credentials.
Attractive compensation: CMA-certified professionals enjoy attractive salary packages. On average, Certified Management Accountants in India earn between INR 5.8 LPA (entry-level) to INR 15.5 LPA (5-9 years of experience).
Comprehensive knowledge: Aspiring CMAs gain extensive accounting, finance, and management knowledge. This globally recognised certification opens doors to the corporate and business world.
Employment Scope After CMA
The Big4 firms in India highly seek CMA USA professionals. Recruiters like Amazon, Capgemini, and Accenture actively seek qualified CMAs.
The CMA USA certification instils confidence in employers regarding a candidate’s financial and management prowess, making them a preferred choice worldwide.
Some job roles for CMA professionals include:
- Cost Accountant
- Financial Director
- Finance Manager
- Credit Analyst
- Financial Risk Manager
- Chief Financial Officer
CMA Salary in India
As with any other certification and profession, a CMA’s salary grows significantly with experience. While starting, the earnings might be insignificant, but after gaining a few years of experience, the opportunities for higher pay become abundant.
Some of the salaries in the CMA job field are as follows:
| Job Title | Salary |
| Certified Management Accountant | 2.04 – 24.8 LPA |
| Financial Analyst | 2.75 – 8.2 LPA |
| Finance Director | 8.2 – 49.6 LPA |
| Senior Financial Analyst | 3.3 – 8.2 LPA |
| Certified Public Accountant (CPA) | 1.76 – 24.8 LPA |
| Financial Controller | 6.1 – 33.1 LPA |
| Vice President (VP), Finance | 16.5 – 49.6 LPA |
| Finance Manager | 4.06 – 16.5 LPA |
| Senior Accountant | 2.4 – 8.1 LPA |
| Cost Accountant | 2.9 – 8.2 LPA |
| Accountant | 1.3 – 5.2 LPA |
| Senior Finance Manager | 8.6 – 24.8 LPA |
| CFO (Chief Financial Officer) | 8.9 – 74.5 LPA |
| Finance Analyst | 2.3 – 8.2 LPA |
Conclusion
The US CMA course offers a globally recognised and prestigious credential in management accounting, providing abundant career opportunities in both domestic and global markets.
For those interested in pursuing the CMA certification, the CMA Online Classes at Lakshara academy in association with KS Academy offer comprehensive placement assistance, exhaustive prep material, training by experienced rank holders, practical learning methods, success-based fees, skill-based training, and easy access to the curriculum through LMS and mobile apps.
With a track record of 4,500+ placements in accounting and finance profiles, we ensure students are job-ready and equipped with the necessary skills for a successful career in CMA.
FAQs
- Are the US CMA and CA exams comparable in difficulty?
CMA (USA) and CA (India) are challenging courses requiring dedicated study hours. While a CA course lasts around 5 years, US CMA courses are shorter and typically last for a maximum of 12-18 months. But in terms of exam difficulty, US CMA is easier to pass than CA.
- Can the US CMA lead to job opportunities?
Upon finishing the US CMA course, candidates can pursue various job roles, including Finance Manager, Financial Analyst, Financial Controller, Relationship Manager, Chief Financial Officer (CFO), and Cost Accountant. The US CMA designation holds high regard in the corporate accounting world.
- Which companies in India hire US CMA professionals?
Renowned global companies such as Accenture, Amazon, Accenture, Larsen & Toubro, Cyqurex, and Wipro collaborate with IMA to recruit talented CMA holders for internships and job placements within their organisations across India.