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The CMA Program IMA St. Louis Chapter March 9th, 2010 PowerPoint PPT Presentation

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The CMA Program IMA St. Louis Chapter March 9th, 2010. Outline. CMA Credential CMA Certification Eligibility New CMA exam format announcement Details of the new CMA exam structure & implementation Exam formant difference current vs. new New program benefits

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The CMA Program IMA St. Louis Chapter March 9th, 2010

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The CMA Program

IMA St. Louis Chapter

March 9th, 2010

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  • CMA Credential

  • CMA Certification Eligibility

  • New CMA exam format announcement

  • Details of the new CMA exam structure & implementation

  • Exam formant difference current vs. new

  • New program benefits

  • Current CMA candidates exam options

  • Transition Exam (Part T)

  • St. Louis IMA Chapter Study Materials Discounts & Chapter Website info

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The Essential Credentialfor Accountants and Financial Professionals

The CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance. Achieving the CMA credential demonstrates your mastery of financial planning, analysis, control, and decision support, as well as professional ethics.

The CMA credential is...

・ Focused—On the critical skills you use in business.

・ Respected—Leading employers seek to hire and promote CMAs.

・ Valued—CMAs earn higher compensation than non-certified professionals.

・ Convenient—CMA Exams are offered electronically in hundreds of locations worldwide.

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Eligibility Criteria

To be eligible for CMA certification, you must fulfill all of the following requirements:

  • Membership in the Institute of Management Accountants

  • Paying the Entrance Fee

  • Satisfying the Education Qualification - Bachelors degree from an accredited college or university (in any major) with assumed knowledge in economics, basic statistics, financial accounting

  • Satisfying the Experience Qualification - 2 years of relevant work experience

  • Passing scores for all required examination parts

  • Compliance with the IMA Statement of Ethical Professional Practice

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ICMA updates CMA exam formatTo ensure that the CMA remains the most appropriate designation for accountants and financial professionals in business, the Institute of Certified Management Accountants (ICMA) announced a change to the format and curriculum of the CMA exam program

  • December 1, 2009New Program Announcement

  • Spring 2010Registration Opens For New Program

  • May 1, 2010New Exam Available for Testing

  • December 31, 2010Completion Deadline for Current Program

Important Timeline

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New Program Benefits

Focused on critical subject matter:

Financial planning, analysis, control, and decision support

Highly Relevant to marketplace needs

Advanced level of certification

Maintains rigor and integrity

Convenient for time-sensitive candidate

Differentiated from other certifications

Focused on the essential body of knowledge for accounting and financial professionals working within organizations

Note: CMA Exam marketing expenditures are increasing this year

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  • Part 1 – Financial Planning, Performance and Control

    • Planning, budgeting and forecasting (30%)

    • Performance measurement (25%)

    • Cost management (25%)

    • Internal Controls (15%)

    • Professional Ethics (5%)

  • Part 2 – Financial Decision Making

    • Financial statement analysis (25%)

    • Corporate finance (25%)

    • Risk management and decision analysis (25%)

    • Investment decisions (20%)

    • Professional Ethics (5%)

New Two-part Exam Format

  • Each exam part is four hours long: - 3 hours multiple choice and 1 hour essay

  • Exam parts can be taken in any order (and on the same day if desired)

  • All topics tested up to “C” level competence - ability to synthesize and make recommendations

  • Must score at least a 50% on the multiple-choice section of the exam to be eligible to take essay section.

  • No immediate result provided; grades mailed several weeks after close of testing window

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New Exam Timing, Test Windows, Delivery

  • New exam registration begins Spring of 2010 – testing window start May/June 2010

  • 3 exam windows of 2-month duration per year (similar to exam windows for current multiple choice exams)

    • January/February

    • May/June

    • September/October

  • 3 years to complete the exams from date of program enrollment. Must take at least 1 exam part within 1 year from enrollment

  • Exams will continue to be administered by computer at Prometric testing centers

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    Key Differences

    Current CMA Structure

    • 4 parts, 13 hours

    • Part 4 capstone: 3 hours of essay

    • Broad subject matter

    • Some topics up to C level

    • 4 years to complete

    • No time requirement to take exams

    • Waiver for part 1

    New CMA Structure

    • 2 parts, 8 hours

    • 2 hours of essay, 1 hour in each part

    • Focused subject matter

    • All topics up to C level

    • 3 years to complete

    • Must take 1 exam part in first year

    • No waivers

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    Will exam fees change?

    Current CMA Testing Fee

    New CMA Testing Fee

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    Current Exam Timing ,Test Windows, Delivery

    Current exam entrance ends February 28, 2010

    Registration for exam parts in the current program ends September 30, 2010 for parts 1, 2 and 3, and ends December 15, 2010 for part 4

    All of the current CMA examination parts (Parts 1, 2, 3 & 4) will be available at Prometric Testing Centers until December 31, 2010

    Automatic transfer to new program if you do not pass all four examination parts of the current CMA program by the deadline

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    Options for Current CMA Candidates

    Current candidates may complete remaining exam parts in the existing program by 12/31/2010 or transition to the new program at any time in 2010

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    Part T -Transition Exam

    For candidates who have passed current parts 2, 3 and/or 1

    Two hours in length, four 30 minute essay on subject matter outlined in new parts 1 and 2

    Available starting May/June 2010 testing window until February 28, 2013 (due date for passing)

    Cost $225

    May take Part T up to three times per year until due date

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    St. Louis IMA Chapter Discounts

    • Apply promotional code IMASTL

    • Chapter members receive 10% discount

    Contact Chapter Coordinator -

    Melissa Leonard :

    Phone : (800) 874-5346, ext.131

    Fax : (888)375-6940

    Email: [email protected]

    Chapter members receive a 20-32% discount

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    St. Louis IMA Chapter Website

    • Check website for CMA program info --

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