There are many reasons to become a Certified Management Accountant. There is no shortage of job opportunities in this field, and it can lead to lucrative salaries. Read on to learn about the benefits of this designation and its earning potential. To start, you must have two years of related experience. If you have two years of experience, you can take the CMA exam. To become a Certified Management Accountant, you must pass the CMA exam.
Qualifications
To become a Certified Management Accountant (CMA), you must have completed two years of professional experience in accounting, finance, or related fields. If you did not pursue your education full-time, part-time work experience counts as one year of professional experience. Full-time teaching positions with 60 percent of course load in accounting or finance are also acceptable. For every two years of part-time teaching, you can apply two hours of your part-time experience to your CMA experience requirements.
Career paths
Are you interested in pursuing a career as a certified management accountant (CMA)? After completing the necessary requirements to become a CMA, you will be eager to start networking and looking for your first job. But you might not know exactly what career paths are open to CMAs. There are many different kinds of CMA positions available, such as Chief Financial Officer and Corporate Controller, but how do you know which one is the right fit for you?
Earning potential
With the growing need for skilled accounting professionals, earning a CMA is a great option for a career in finance. This specialized certification provides accountants with extra expertise in finance and the ability to add value to an organization. Earnings for CMAs are higher than the average, and there are numerous opportunities in virtually any industry to earn this professional designation. A CMA certificate is also internationally recognized, which increases employment options for those with the certification.
CMA exam
The CMA exam for Certified Management Accountant consists of two four-hour parts. Part one of the CMA exam requires you to answer 3-5 essay questions that will test your knowledge of the topic. You will be required to write a paragraph and may use calculations to support your response. The essays are evaluated by subject matter experts and give partial credit for each answer. For conceptual essay questions, write as much as possible. For computational questions, show your work in the form of charts and tables.
Studying for the exam
Preparing for the CMA exam does not have to be a daunting task. However, it should be noted that the CMA exam has a pass rate of 43%, which means that repeat test takers should spend extra time studying. There are several study aids available, including practice exams. To maximize your chances of passing the exam, try to sit for it as soon as possible after graduation. Moreover, you may also want to take the exam as close as possible to graduation. By learning about the topics covered in the test and taking practice exams, you can boost your chances of passing on the first try.