Certified Management Accountant (CMA) is one of the most sought-after certifications by recruiters globally. The US CMA programme is recognised in over 170 countries, opening global opportunities.
The CMA certification signifies that a person is well-trained and has an expansive skill set, including financial reporting, forecasting, cost control, planning, budgeting, auditing, accounting, cost management and risk management.
So, for all the aspirants on their way to becoming a CMA, we are breaking down the syllabus and course details of the US CMA programme in this blog. Read on...
US CMA course details
The US CMA programme is a short certification course spanning 6 to 9 months. The course curriculum is divided into two parts, and so is the CMA exam. One can sit for CMA exams (Part 1 or Part 2) in any order.
CMA exams are held in three windows every year:
The CMA exam is of 500 marks, with each paper consisting of 100 MCQs and two essays. There are four types of MCQs and three types of essay questions. The exam is of a four-hour duration. Out of 500, an examinee must acquire 360 marks to clear the exams.
The course lets you choose which exam you’d like to appear for first. This means you can appear for Part 2 before Part 1 and vice versa.
So, now that you have a grounding on how the course flows let's understand the syllabus.
US CMA syllabus
As the course is divided into two parts, the syllabus has two sections: Part 1 and Part 2.
Part 1 of the syllabus deals with financial planning, analytics and management. It consists of the following subtopics:
External financial reporting and decision
This teaches basic accounting principles, management, and analytics. This helps in assessing the financial standing of a business and predicting the financial position of the company in future quarters.
Planning, budgeting, and forecasting
Budgeting is an integral part of finance. Therefore, a CMA must understand how to ensure the smooth functioning of the financial operations of a business. This module teaches candidates the ins and outs of planning, budgeting, and forecasting.
A CMA must be able to churn out the best performance of every financial asset of the company. This module prepares you to maximise your organisation’s potential and profit range.
A business cannot function without putting a rein on its cost flow. This module deals with the basics of costing systems, measurement concepts and understanding cost behaviour for effective cost management.
To effectively run a company's finance, a CMA must have a firm grounding in risk and cost control and take care of internal auditing to understand where the business stands.
Technology and analytics
One can only scientifically make financial predictions by knowing how to use analytics. Therefore, a CMA must be adept at using analytical data to forecast and plan the company’s finances.
After you are done with the first section, you move on to Part 2 of the course syllabus:
Financial statement analysis
In this module, a student learns the basics of financial statement analysis, followed by deeper levels of analytical studies like variation, revenue, and profitability analysis.
This module deals with financial management and teaches how to understand financial reports and analysis in a way that questions why costs have been incurred and how profits can be fished in more efficiently.
This deals with the decision-making proficiency required in cost management. A CMA must understand how to analyse a business' budget and volume to make the best financial decisions.
While you get an idea of the risk through the first part of the course, you learn the core of risk management in this half. This is one of the most practical sections of the entire course, helping candidates hone their skills in effective risk management.
There are multiple profitable ventures at any given time for a business. Filtering through them according to budget and presenting the best investment opportunities is the job of a CMA who is an expert at analysing asset potential.
Just the knowledge of finance is not enough for top-ranking finance professionals. The professional finesse required for this role is complete with the best practices and an understanding of professional values and ethics.
The US CMA course is any professional’s golden ticket to a salary hike and placement in well-reputed global organisations while adding to one’s knowledge, skills, and resume.
Imarticus Learning offers the US CMA certification course through live online classes. You pay 50% while enrolling, and the rest only when you pass the course and get the certification that ensures you get a salary package starting from Rs 6.5 to 8 LPA. Sign up for the US CMA course and master the 12 core skills you need to ace finance and accounting.