Certified Management Accountant (CMA)
The Certified Management Accountant (CMA) is a globally recognized credential for management accounting and financial strategy, granted by the IMA.
What Is This Certification?
CMA covers financial planning, analytics, performance, and strategic financial management. It complements the CPA by focusing on internal business decision-making rather than audit/tax.
Eligibility & Requirements
Bachelor's degree (or equivalent) + 2 years of management accounting experience; pass both exam parts.
Exam Format & Structure
Two parts, 100 questions + essays each, 4 hours per part. Prometric.
Cost & Fees
$460 IMA entrance + ~$830 per part (varies by membership).
Validity & Renewal
Active while IMA membership and CPE maintained; designation ongoing with requirements.
Salary & Career Outlook
CMAs commonly earn $90,000–$140,000+ in corporate finance and FP&A roles.
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Top Training Providers & Resources
- IMA
- Gleim
- Wiley
- Becker
Is Certified Management Accountant (CMA) Worth It?
The CMA is worth it for accountants targeting corporate finance, FP&A, and management roles rather than public accounting — it is the leading management-accounting credential and signals strategic financial skill. It is less worth it if your goal is audit or tax public practice, where the CPA dominates. The value: CMAs report strong salary premiums and faster advancement into analyst, controller, and finance-manager tracks, and the exam is more focused (two parts) than the CPA. For industry accountants it is often the higher-ROI credential.
How to Prepare
Prep over 12–18 months part-time. 1) Join IMA and register for the CMA program. 2) Study Part 1 (financial planning/analytics/performance) then Part 2 (strategic financial management) with Gleim/Wiley/Becker. 3) Sit one part at a time at Prometric; each is 4 hours with multiple choice + essays. 4) Fulfill the 2-year experience requirement (can be before or after the exam). 5) Maintain CPE and membership so the designation stays active; target a steady study pace of 10–12 hours/week per part.
How to Get Certified Management Accountant (CMA) Certified
- Confirm you meet the requirements: Bachelor's degree (or equivalent) + 2 years of management accounting experience; pass both exam parts.
- Download the official exam blueprint / handbook from IMA (Institute of Management Accountants) and map it to a study plan.
- Choose prep that fits you — official materials, a video course, and/or a bootcamp — and set a weekly schedule.
- Study the core topics and, where hands-on, practice until the skills are automatic.
- Take full-length practice exams and target a steady pass-rate before booking. Exam format: Two parts, 100 questions + essays each, 4 hours per part. Prometric.
- Book the exam ($460 IMA entrance + ~$830 per part (varies by membership).) at a test center or online proctor, then sit and pass it.
- Receive your credential from IMA (Institute of Management Accountants) and add it to your resume, LinkedIn, and this profile.
- Track renewal: Active while IMA membership and CPE maintained; designation ongoing with requirements. — log continuing education early.
Career Paths & Job Titles
- Cost Accountant
- FP&A Analyst
- Financial Analyst
- Controller (mid)
- Finance Manager
Skills You'll Gain
- Applied accounting / finance principles
- Regulatory and ethics frameworks
- Data analysis and reporting
- Risk identification and controls
- Clear financial communication
Who Should Get This Certification?
finance/accounting students and professionals targeting a credentialed edge
Good fit if…
- You want a credentialed, resume-ready proof of skill in this field.
- The Certified Management Accountant (CMA) is required or preferred for the roles you're targeting.
- You learn well from structured study + practice and can commit the prep time.
Maybe skip if…
- You need deep, multi-year expertise — this is a foundational/entry-to-mid credential, not a replacement for experience.
- The topic isn't relevant to your actual career goal.
- You can't meet the eligibility or renewal requirements — check those with the provider first.
Frequently Asked Questions
CMA or CPA?
CMA suits corporate/management accounting and FP&A; CPA suits audit, tax, and public accounting. They are complementary, not competing.
How long to finish both parts?
Most complete both parts in 12–18 months while working.
What is the Certified Management Accountant (CMA) and who is it for?
Certified Management Accountant (CMA) is offered by IMA (Institute of Management Accountants). CMA covers financial planning, analytics, performance, and strategic financial management. It complements the CPA by focusing on internal business decision-making rather than audit/tax. It is aimed at Bachelor's degree (or equivalent) + 2 years of management accounting experience; pass both exam parts.
How much does the Certified Management Accountant (CMA) exam cost?
The exam costs $460 IMA entrance + ~$830 per part (varies by membership). Budget for potential retakes and any exam-prep materials you choose separately.
How long is the Certified Management Accountant (CMA) valid, and how do I renew it?
Active while IMA membership and CPE maintained; designation ongoing with requirements. Renewal requirements vary, so confirm the current policy with IMA (Institute of Management Accountants) before your renewal date.
What does the Certified Management Accountant (CMA) exam format look like?
The exam is structured as follows: Two parts, 100 questions + essays each, 4 hours per part. Prometric. Knowing the format in advance lets you pace yourself and practice the question types you will face.
Am I eligible for the Certified Management Accountant (CMA)?
Eligibility: Bachelor's degree (or equivalent) + 2 years of management accounting experience; pass both exam parts. Review the official IMA (Institute of Management Accountants) handbook because eligibility rules and documentation can change.
How long should I study for the Certified Management Accountant (CMA)?
Most candidates prepare over a focused window that depends on background and the exam's depth. Use the official exam blueprint from IMA (Institute of Management Accountants), pair it with a reputable prep course, and take full-length practice exams until consistently above the pass threshold.
What is the salary outlook after earning the Certified Management Accountant (CMA)?
CMAs commonly earn $90,000–$140,000+ in corporate finance and FP&A roles. Salaries also depend on region, experience, and related credentials, so treat this as a directional range rather than a guarantee.
Is the Certified Management Accountant (CMA) worth it for my career?
That depends on your goals. The CMA is worth it for accountants targeting corporate finance, FP&A, and management roles rather than public accounting — it is the leading management-accounting credential and signals strategic financial skill. It is less worth it if your goal is audit or tax public practice, where the CPA dominates. The value: CMAs report strong salary premiums and faster advancement into analyst, controller, and finance-manager tracks, and the exam is more focused (two parts) than the CPA. For industry accountants it is often the higher-ROI credential.
How does the Certified Management Accountant (CMA) compare to other finance credentials?
Certified Management Accountant (CMA) sits in a specific niche versus broader credentials like the CPA or CFA. Compare exam depth, experience requirements, and employer recognition.
Are there experience requirements tied to the Certified Management Accountant (CMA)?
Many finance credentials require verified work experience to actually hold the designation, not just pass the exam. IMA (Institute of Management Accountants) publishes the exact requirements.
Can I sit for the Certified Management Accountant (CMA) exam before meeting experience requirements?
Often you can pass the exam first and complete experience afterward, but you will not be formally designated until both are met.