10 Steps to Achieve Your CMA US Certification: A Complete Guide
Certified Management Accountant (CMA) is one of the most respected certifications in the field of management accounting and financial management. Awarded by the Institute of Management Accountants (IMA), the CMA (US) credential signifies expertise in financial planning, risk management, cost management, and strategic decision-making.
Earning this certification can lead to better career opportunities, higher salaries, and global recognition in the finance and accounting sector. While the process may seem challenging, breaking it down into manageable steps can help candidates navigate their CMA journey with ease. Here is a complete guide to achieving your CMA (US) certification successfully.
1. Understand the CMA Certification and Its Benefits
Before embarking on the CMA journey, it is important to understand the significance of this certification and how it can enhance your career. The CMA credential is highly valued in industries such as banking, finance, manufacturing, healthcare, and consulting.
Key benefits of becoming a CMA:
Better career opportunities in finance, accounting, and management roles.
Increased earning potential, as CMAs tend to have higher salaries than non-certified professionals.
Global recognition, makes it easier to secure jobs in multinational companies.
Stronger skills in financial analysis, decision-making, and business strategy.
Understanding these benefits can motivate candidates to stay committed throughout the certification process.
2. Meet the Educational Requirements
To be eligible for the CMA certification, candidates must hold a bachelor’s degree from an accredited university or college. The degree does not necessarily have to be in finance or accounting; graduates from other disciplines can also apply.
For those without a bachelor’s degree, the IMA allows alternative pathways, such as holding certain professional certifications like CPA (Certified Public Accountant) or ACCA (Association of Chartered Certified Accountants).
It is essential to ensure that your degree meets the IMA’s academic criteria. If you are still pursuing a degree, you can begin your CMA studies and take the exams, provided you complete your degree before applying for certification.
3. Gain the Required Work Experience
In addition to educational qualifications, candidates must have at least two years of continuous work experience in management accounting or financial management. This can be completed before or within seven years after passing the CMA exam.
Eligible roles include:
Financial Analyst
Management Accountant
Cost Accountant
Internal Auditor
Budget Analyst
Controller
The work experience requirement ensures that CMAs have practical knowledge in financial decision-making, cost control, and performance management. If you are still in college, you can begin accumulating relevant experience while preparing for the exam.
4. Become a Member of the IMA
To enroll in the CMA program, candidates must become members of the IMA. The IMA is a global professional organization that provides networking opportunities, study resources, and career support for management accountants.
The membership requires an annual fee, with different pricing options for:
Students (discounted membership fees)
Professionals (full membership fees)
Academics (special pricing for educators)
Being an IMA member gives access to study materials, job postings, industry events, and professional development opportunities, making it a valuable step in the CMA journey.
5. Enroll in the CMA Program and Pay the Fees
Once you become an IMA member, the next step is to enroll in the CMA program by paying the CMA entrance fee. This fee grants candidates access to official exam materials and is a prerequisite for scheduling the exam.
Candidates must complete both parts of the CMA exam within three years of registering for the program. Proper planning and time management can help ensure success within this timeframe.
6. Prepare for the CMA Exam
The CMA exam is divided into two parts, covering a wide range of topics:
Part 1: Financial Planning, Performance, and Analytics
Financial statements and reporting
Budgeting, planning, and forecasting
Cost management
Internal controls
Technology and analytics
Part 2: Strategic Financial Management
Financial statement analysis
Corporate finance
Decision analysis and risk management
Investment decisions
Professional ethics
Most candidates spend 6–12 months preparing for the exam, depending on their background and study plan. Study resources such as textbooks, online courses, and mock exams help improve understanding and exam performance.
7. Schedule and Pass the CMA Exam
The CMA exam is offered during three testing windows each year:
January/February
May/June
September/October
Candidates can schedule their exams at Prometric testing centers worldwide. Each exam part consists of:
100 multiple-choice questions (MCQs)
2 essay questions
To pass, candidates must achieve a minimum score of 360 out of 500. The key to success is a strong study plan, consistent practice, and time management during the exam.
8. Fulfill the Work Experience Requirement
If you have not already completed the two years of work experience requirement, you must do so within seven years of passing the CMA exam.
Employers must verify your work experience, and the IMA will assess whether it meets the required standards. Once the experience requirement is fulfilled, candidates can officially receive their CMA certification.
9. Follow Ethical Standards and Professional Conduct
CMAs are expected to adhere to ethical principles set by the IMA’s Statement of Ethical Professional Practice. These standards include:
Honesty in financial reporting and decision-making
Integrity in handling business transactions
Confidentiality in dealing with sensitive financial information
Fairness in professional conduct
Following ethical guidelines ensures that CMAs maintain credibility and uphold professional integrity in the workplace.
10. Maintain CMA Certification with Continuing Education
After obtaining the CMA certification, professionals must complete 30 hours of Continuing Professional Education (CPE) every year. This includes at least 2 hours of ethics training.
CPE helps CMAs stay updated with industry trends, regulatory changes, and financial innovations. Many organizations and training centers offer courses and seminars to help professionals meet their CPE requirements.
Maintaining an active certification ensures continued professional growth and long-term career success.
Conclusion
Earning the CMA (US) certification is a rewarding journey that requires dedication, strategic planning, and continuous learning. By following these ten steps, candidates can successfully obtain their certification and unlock global career opportunities in management accounting.
With a well-structured study plan, relevant work experience, and adherence to ethical standards, achieving the CMA certification becomes a manageable goal. Professionals who earn this credential gain a competitive edge in the finance industry, opening doors to leadership roles and higher salaries.
Avinash College of Commerce provides expert guidance and structured training programs to help students and professionals complete the CMA (US) certification. With the right support and preparation, aspiring CMAs can build a strong foundation for a successful career in management accounting.
