Scope of CMA (COST ACCOUNTANT)

 Certified Management Accountant (CMA) means spending a lot of time, effort and money. Your aunts and neighbors may have never heard of CMA, but in the corporate accounting world, CMA is a very related term.

The CMA is an advanced professional certification specifically designed to measure critical accounting and financial management skills. This is particularly relevant to success in the business environment.

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CIMA is the largest in this space, but most of the members are based in the UK and to a lesser extent in Europe and Common wealth countries.

Various industry journals have shown that 80% of accountants end up in non-public accounting. Management accounting knowledge and skills are actually most useful to these professionals. Moreover, many CPA and CMA dual holders find CMA-covered materials more interesting and practical in their day-to-day work.

Don't get me wrong - earning a CMA is not easy due to the low barrier of entry. To become certified candidates still need a bachelor's degree, passing a rigorous exam, and 2 consecutive years of management accounting experience.

However, IMA makes the process of becoming a CMA as smooth as possible. Candidates can focus on passing the exam and building experience rather than getting stuck with bureaucracy and conflicting rules like various state boards involved in the CPA certification process.