The future belongs to CMAs (Certified Management Accountants). Nowadays, because of new regulations in the corporate sector, if you intend to become a CFO, Head of Internal Audit, Company Secretary or other similar executive positions, experience or an academic degree is not sufficient. Instead, you will need to be a member of an international professional body. Qualifying as a CMA will make you eligible for these statutory positions.
CMAs have the edge over other professionals in areas like decision-making, planning, forecasting, risk management, cost and internal control, investment decisions, corporate finance and performance management.
CMAs belongs to IMA (Institute of Management Accountants) which is a global body of accounting and finance professionals, founded in 1919 in the USA. It is one of the largest and most respected professional associations focusing on the advancement and promotion of management accounting and the finance profession. With members in more than 140 countries, it has over 100,000 members worldwide.
CMA is your international passport, recognised and valued all of the world. It is currently one of the hottest professional qualification in the Middle East since it can be completed in eight months (although the average is 1½ years), and costs less than most other professional qualifications making it excellent value for your time and money.
CMAs are actively working in a wide range of senior management positions around the world in companies like IBM, Microsoft, Johnson & Johnson, Deloite, Walmart, Mercedes, and many others. Once you qualify as a CMA and you are to meet certain experience and qualification requirements, you are eligible to receive Associate Membership of the Institute of Cost Accountants of India (ICAI) – an attractive additional benefit for many CMAs.
The Value of the CMA
According to IMA’s 2018 US Salary Survey, CMAs earn 47% more than professionals without the CPA or CMA. Becoming a CMA at the age of 22, for example, could mean an additional $500,000 in lifetime earnings. More importantly, the CMA provides a gateway to a successful business career, and allows you to tap into an international network of over 100,000 professionals. As CMAs themselves will testify, investing in this certification pays a lifetime of dividends, allowing you to rise above your competitors. Companies are constantly looking to gain a competitive edge in an ever-changing business landscape. As a CMA you will have the strategic thinking skills and cutting edge professional knowledge to make a difference. Don’t be surprised when you have a seat at the top table – right next to the CEO, of course.
Minimum time to complete both parts is eight months but average time to complete is 1½ years.
Once a candidate enters the CMA programme, he or she must complete within three years.
Exams are held in Jan/Feb, May/June & Sept/Oct.
There are two online closed book exams and each exam is of four hours. Exams are conducted by the Prometric Testing Centre in Al Mawaleh.
The normal entry requirement for the CMA programme is an appropriate Bachelor's degree. However, under certain circumstances, those without a degree can be admitted. Full details can be obtained from Majan College.
Documents required for registration:
- Passport Copy/Original
- Four passport size photographs
- Originals and photocopies of all previous certificates, degrees, transcripts etc.
This programme is offered under the supervision of a qualified CMA USA professional.
Syllabus for CMA Part 1: Financial Planning, Performance, and Analytics
- 15% External Financial Reporting Decisions
- 20% Planning, Budgeting, and Forecasting
- 20% Performance Management
- 15% Cost Management
- 15% Internal Controls
- 15% Technology and Analytics
Syllabus for CMA Part 2: Strategic Financial Management
- 20% Financial Statement Analysis
- 20% Corporate Finance
- 25% Decision Analysis
- 10% Risk Management
- 10% Investment Decisions
- 15% Professional Ethics
For the complete details of the fees, please refer to the Fees Structure
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