IMA (Institute of Management Accountants)
CMA
Certified Management Accountant
A globally recognized credential for accountants and financial professionals in business, focused on management accounting and corporate finance. The CMA is earned by passing a two-part exam covering financial planning, analysis, control, decision support, and professional ethics.
What's on the exam
CMA Content Specification Outlines (effective September 1, 2024)
Planning, Budgeting and Forecasting
20%Strategic planning · Budgeting concepts and methodologies · Forecasting techniques · Annual profit plans and supporting schedules · Top-level planning and analysis
Performance Management
20%Cost and variance measures · Responsibility centers and reporting · Performance measures and the balanced scorecard · Comparing actual to planned results · Key performance indicators
External Financial Reporting Decisions
15%Financial statements · Recognition, measurement, valuation and disclosure · Revenue and expense recognition · Asset and liability valuation · Differences between U.S. GAAP and IFRS
Cost Management
15%Measurement concepts and costing systems · Overhead costs and allocation · Supply chain management · Business process improvement · Activity-based costing
Internal Controls
15%Governance, risk and compliance · Internal control structure and management philosophy · Internal auditing · Systems controls and security measures · Fraud risk management
Technology and Analytics
15%Information systems · Data governance · Technology-enabled finance transformation · Data analytics and visualization · Business intelligence
Frequently asked questions
How much does the CMA cost?
The CMA costs $545. Exam registration is about $545 per part for professional members ($407 per part for students/academics), plus a one-time CMA entrance fee and required annual IMA membership dues.
How long is the CMA and how many questions does it have?
100 multiple-choice items and two essay questions per part — 4 hours per part (3 hours multiple-choice, 1 hour essays).
What do you need to pass the CMA?
Scaled score of 360 out of 500 required to pass each part.
Can you retake the CMA?
Must wait until the next testing window; new exam registration and fee required.
What is the best way to study for the CMA?
Study the official blueprint, not random material: the exam is weighted by domain (Planning, Budgeting and Forecasting 20%, Performance Management 20%, External Financial Reporting Decisions 15%, Cost Management 15%, Internal Controls 15%, Technology and Analytics 15%). Spaced-repetition flashcards built domain-by-domain against that blueprint are the most time-efficient way to cover everything the exam tests.
Program in development
We're building a blueprint-complete program for this exam. Meanwhile, explore live programs across 11 exam.
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