Full Answer Section

Closest Chapter:

To find the closest IMA chapter to your home or place of business, you can use the IMA’s chapter locator tool: https://www.imanet.org/career-resources/volunteering-with-ima/chapters-councils

CMA Certification:

The Certified Management Accountant (CMA) certification is a professional designation awarded to accountants who meet the educational and experience requirements, and pass a rigorous two-part exam. The CMA exam tests a candidate’s knowledge of management accounting principles, techniques, and practices.

Benefits of CMA Certification:

• Enhanced career prospects: CMAs are in high demand in the job market and often earn higher salaries than non-CMAs.
• Increased credibility: The CMA designation demonstrates a high level of competence in management accounting.
• Professional development: The CMA program provides opportunities for continuing education and professional networking.

Requirements for CMA:

To obtain the CMA certification, you must:

• Have a bachelor’s degree from an accredited college or university.
• Have two years of continuous professional experience in management accounting or a related field.
• Pass the CMA exam in two parts.

Continuing Education Requirements:

CMAs must complete 20 hours of continuing professional education (CPE) every three years to maintain their certification.

Salary Advantage:

Studies have shown that CMAs earn significantly higher salaries than non-CMAs. The exact amount of the salary advantage can vary depending on factors such as experience, industry, and location.

Difference Between CMA and CPA:

While both the CMA and CPA certifications are respected in the accounting profession, they serve different purposes. The CPA certification focuses on financial accounting and auditing, while the CMA certification focuses on management accounting. CMAs are typically involved in strategic planning, budgeting, and cost management, while CPAs are often involved in financial reporting and compliance.