The Certified Management Accountant certification is becoming increasingly popular in recent times with the multiple career paths it can provide – as the globally accepted counterpart to the Certified Public Accountant (CPA). And, with about 50 years of experience under its belt, the Institute of Management Accountants (IMA) is seeing more and more candidates sit for the CMA Exam across the United States and beyond.
How many CMAs are there?
Currently, there are about 40,000 active CMAs – with a continued growth and demand within the last decade. So much growth in fact that in the past fiscal year alone, there have been approximately 50,000 CMA candidates. That includes anybody who has registered for at least one section of the two-part exam. If including all candidates in the pipeline, there’s a substantially larger number with approximately 83,000 CMA candidates preparing for the exam by meeting education requirements and the like.
What’s needed to become a CMA?
To pass the CMA program, you will be required to meet certain experience requirements and other criteria. That consists of:
- Holding an active IMA membership.
- Completing Parts 1 and 2 of the CMA Exam, and putting the study time in to pass.
- Holding a bachelor’s degree from an accredited college/university or a related professional certification.
- Abiding by IMA’s Statement of Ethical Professional Practice.
- Having two continuous years of professional experience in management accounting or financial management.
What Can I do with the CMA certification?
Accounting professionals who are CMA holders are trusted to perform a variety of strategic financial management duties. From dealing financial data, to financial reporting, or financial analysis – the CMA designation can make way for new heights of earning potential and a host of careers including:
- Finance Management.
- Financial Analyst.
- Financial Risk Management.
- Financial Controller.
- Financial Accounting.
- Cost Accounting.
- Chief Financial Officer.
- Cost Management.
Want more information?
Well, you’re in luck – we interviewed Mitra Kleinberg, Business Development Manager at IMA, about how many people are pursuing their CMA credential nowadays and how they can use the CMA certification in the workforce. See more in the video below.