I Pass The CMA Exam!

CMA Entrance Exam Curriculum by Parts and Topics

In order to become a CMA in the US, you have to go through the CMA entrance exam. What exactly does it cover? Is it very difficult? Let’s take a look.

CMA Entrance Exam: The Format

The exam is 100% computerized with 100 multiple choice questions and two 30-minute essay questions. It consists of the following parts:

  • Financial Planning, Performance and Control
  • Financial Decision Making

Candidates are free to take either one or both parts of the exam within the same test windows. The exams have to be completed within 3 years, counting from the date the candidates pay the entrance fee.

New CMA Exam Format Effective 2015

This page is now updated with the latest syllabus. The 3 major changes are:

  • Additional content related to external financial reporting in Part 1
  • A new section on strategic planning included in Planning, budgeting and forecasting in Part 1
  • Professional ethics now tested only in Part 2

Candidates who took the exam before 2015 and would like more details on the changes, please check out the summary on IMA website or detailed version on this site.

CMA Exam Part 1

  • External financial reporting (15%)cma-exma-part-1
  • Planning, budgeting, and forecasting (30%)
  • Performance management (20%)
  • Cost management (20%)
  • Internal controls (15%)

CMA Exam Part 2

  • Financial statement analysis (25%)cma-exma-part-2
  • Corporate finance (20%)
  • Decision analysis (20%)
  • Risk management (10%)
  • Investment decisions (15%)
  • Professional ethics (10%)

More Information On Each Topic

CMA Exam Part 1

External Financial Reporting Decision

  • New to the CMA exam covering basis of financial accounting.
  • Preparation of financial statements.
  • Valuation of assets and liabilities.
  • Operating and capital leases.
  • Impact of equity transactions.
  • Revenue recognition; income measurement; major differences between U.S. GAAP and IFRS.

Planning, budgeting, and forecasting

  • How to annual profit plans and supporting schedules.
  • Different types of budget e.g. activity-based budgeting, project budgeting and flexible budgeting.
  • Top-level planning and analysis.
  • Forecasting including quantitative methods e.g. regression analysis and learning curves.

Performance Management

  • How to analyze the finance statement items such as revenue, cost, profit and investment in assets.
  • Variance analysis based on flexible budgets and standard costs.
  • Responsibility accounting for revenue, cost, contribution and profit centers.
  • Balanced scorecards

 Cost Management

  • Cost concepts, flows and terminology.
  • Alternative cost objectives.
  • Cost measurement concepts.
  • Cost accumulation system e.g. job order costing, process costing, activity-based costing.
  • Overhead cost allocation.
  • Operational efficiency and business process performance topics e.g. JIT, MRP, theory of constraints, value chain analysis, benchmarking, ABM and continuous improvement.

Internal Control

  • Risk assessment
  • Internal control environment, procedures and standards.
  • Responsibility and authority of internal auditing.
  • Types of audits.
  • Assessing the adequacy of accounting information systems control.

CMA Exam Part 2

Financial Statement Analysis

  • Principal financial statements and their uses.
  • Limitation of financial statement information.
  • Interpretation and analysis of financial statement e.g. ratio and comparative analyses.
  • Market value vs book value.
  • Fair value accounting.
  • Major difference between IFRS and US GAAP.
  • Off-balance sheet financing.
  • Cash-flow statement preparation, analysis and reconciliation.
  • Earnings quality.

Corporate Finance

  • Types of risk.
  • Measures of risk.
  • Portfolio management.
  • Options and futures.
  • Capital instruments for long-term financing.
  • Dividend policy.
  • Factors influencing the optimal capital structure.
  • Cost of capital.
  • Managing and financing working capital.
  • Mergers and acquisitions.
  • International finance.

Decision Analysis

  • Relevant data concepts.
  • Cost-volume-profit analysis.
  • Marginal analysis.
  • Make vs buy decisions.
  • Pricing.
  • Income tax implications for operational decision analysis.
  • ERM.

Risk Management

  • Operational risk, Hazard risk and financial risk and strategic risk.

Investment Decision

  • Cash flow estimates.
  • Concepts of DCF (discounted cash flow), net present value, IRR (internal rate of return).
  • Non-discounting analysis techniques.
  • Income tax implications for investment decisions.
  • Ranking investment projects.
  • Risk analysis.
  • Real options.
  • Valuation models.

Professional Ethics

  • Ethical consideration for both management accountants and the organization.

Next Reading: The Exam’s Format
Structure and Duration

For Your Further Reading

Exam content, pass rate trend and difficulty of:

For specific information on the CMA entrance exam together with study tips and exam tactics, please consider signing up for our free mini course here:

Join us if you want to get tips on how to plan,
study and pass your CMA exam… on your first attempt!

Source: CMA Candidate Handbook

About the Author Stephanie Ng

I am the author of How to Pass The CPA Exam (published by Wiley) and the publisher of this and several accounting professional exam prep sites.

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Leave a Comment:

monika devi says December 10, 2020

Hi, i am 12 th student i am interest to studying cma course so I want how easy to pass the entrance exam inform mam

    Stephanie Ng says December 16, 2020

    Hello, the article on which you commented is for CMA US, and for this examination, there isn’t an entrance exam. You may be thinking of another exam or designation. Cheers!

Ketki says June 11, 2018

Actully I am little confuse in Entrance test and actual exam, Are those differrent things in CMA Exam? I want to know that whats the requirement for entrance test. I need to pass that test and whats the procedure to take admission for CMA.

Himanshu says April 1, 2018

Hi, I am bcom graduate and having a 2 and half years experience in MNC.
Do I eligible for CMA US course and if yes then what would be the course fees.

Kevin Joe says February 12, 2018

I currently work in software field (erp development and implementation).

Does implementation of financial systems count as an experience for CMA holders ?

rahul says December 26, 2017

Hi Stephanie,
I am a Arts graduate with political science than I have did my MBA with specailzation in FINANCE AND Marketing .
I have a total experience of 8 yrs in finance profile at present I am working as a finance manager in Dubai.
I want to know that am I eligible for CMA and I go ahead to earn this qualification.

Pls reply.

    Stephanie Ng says December 28, 2017

    Hi Rahul,
    Thanks for your note. Your education is totally fine as they only require bachelor degree (in any field). As for the experience, it sounds to me to be ok as you have financial management experience, but it is best to double check with the IMA before proceeding. Simply email them at ima@imanet.org and give them your job description. Good luck! Stephanie

parvathy mohan says October 30, 2017

Hi Stephanie,

I just took my exam today and it said that I scored 50% or more in MCQ to go to the Essay section. Is it an indication that I passed?


    Stephanie Ng says November 3, 2017

    Good! It means what it says — that you could move on to the essay section. Whether you pass or not depends also on the performance of your essays. Don’t worry about it for now. Take a well deserved rest! Regards, Stephanie

TAHA RAIS says August 29, 2017

I want to do cma usa kindly guide me how to enroll cma? may i want to know that is it cma comparatively easy to other professional certificate?.

    Stephanie Ng says September 8, 2017

    Hi Taha,
    Thanks for your note. First of all I have to emphasize that this is not an easier exam. This is a shorter exam with only two parts, but each part is difficult. Part 1 for example, the pass rate has been around 35% for years.

    In any case, the pass rate is a lot higher among those who prepare properly. On how to apply for this exam, please check out this page: https://ipassthecmaexam.com/how-to-become-a-cma/

CMA PROSPECT says July 15, 2017

Hi Stephanie,
Thanks for all your support and hardwork!
I’m from India and would like to self-study Its been 4 years since I last practised accounts, because of which I’m a little out of touch so I would need to work extra hard to brush up the fundamentals too. Rather than just for clearing the exams I would like to actually understand and learn so that I’m prepared to handle anything practically especially when I would work in a firm.
Which review system do you think would prepare me well? (I did try the free trials but still confused) I was thinking I would choose Gleim because of its better test prep software and its tougher practise questions like you mentioned in your blog. And its much less expensive than Wiley. But I do need help with the basics as well, What would you advice? Which review system can better help us to clear both parts?

Also since you said it’s better to register officially only after you’re prepared to take the exam, I thought of starting my preparation now, register officially with IMA for the course around November 2017 and take the exam in the Jan-Feb 2018 window. What do you think?

    Stephanie Ng says July 18, 2017

    Hi CMA Prospect, thanks for your note! Yes Jan-Feb 2018 window sounds like a good timing for you.

    As for review courses, Gleim is great for exam taking purposes. I understand how you’d like to learn the concepts too. I have to say Wiley does a slightly better job in that.

    Getting two review courses is expensive (and could be confusing), so I suggest that you go through the learning using Gleim as a base, and whenever you run into new or difficult concepts, look it up on Khan Academy or even youtube. Many of my readers are able to do that quite successfully. For big sections such as financial or cost accounting, you may consider borrowing a text book (although I find watching online videos a better way to learn in my own case).

    You can give this a try and if this proves to be too much of a hassle, you can always get a Wiley book later. Hope it helps! Stephanie

      CMA PROSPECT says July 19, 2017

      Thanks for your advice Stephanie. Would you say Wiley covers financial or cost accounting well? They claim 9/10 candidates clear the exam with Wiley. Is that accurate?
      I was thinking of starting the exam prep now and register with IMA for the program right before I take the exam, do you think that’s wise?

      Also thank you for taking the time to prepare a free Mini e-Course for all of us. It is a tremendous help for anyone new to CMA. It covers all the necessary aspects we need to think and plan over and makes us well prepared to start our prep towards being a CMA.

        Stephanie Ng says July 23, 2017

        Hi CMA Prospect,
        Wiley should cover all syllabus meaning they will cover both financial accounting and cost accounting. On whether 9 out of 10 is correct, I can’t imagine a big brand such as Wiley would lie but there are different interpretations on “9 out of 10” e.g. could it be 8.5 or even 8.1 rounding up to 9? No one knows to be honest. I would say it is overall a solid set of review materials, and we have the pros and cons of major providers including Wiley here: https://ipassthecmaexam.com/cma-review-course/

        Yes you can get prepared first and then register for the exam around one month before the exam. Technically you can register close to the exam date, but the prometric center may run out of space.

        And glad to know you find the mini course helpful. That’s great and let me know if you have any questions along the way. Cheers, Stephanie

          CMA PROSPECT says July 23, 2017

          Thanks for your help Stephanie 🙂

Priya says June 25, 2017

Hi Stephanie,

I have a question regarding pursuing CMA vs CPA vs CFA. I am a CA but into IT from last 10 years and currently working for US based company. Will there be a benefit of doing any of this certification. My intention is to switch my career to core Finance instead of IT. in Finance it could be costing or finance, I have not decided yet.
I would like to know your expert opinion which could help me in getting equivalent job opportunities which I am having currently.
Also my second ques is CPA and CMA recognized outside US?


Sairam Beeman says January 18, 2017

Any body took CMA Part 2 in Jan 2017 window?

Monica Tiwari says February 3, 2016

I’m CA ipc student & have completed my graduation but not from the recognized university( SGBAU ) but I want to pursue CMA course residing in India can I register for the course & if yes then what is the procedure to follow?

narendra balapa says January 30, 2016

hey der, this is narendra from india currently pursuing my final year b.com at chennai. so i just wanna know if i’m eligible to sit for the cma course accredited by the ima..and got another question how do i know if my college is recognised by ima. thanks in advance, appreciate it

Shashank says January 18, 2016

Hi Mam,

I am pursuing Bcom final year in India , am I eligible to register for CMA and write the exam before completing B.com or I have to wait till my Bcom gets completed

    Stephanie Ng says January 18, 2016

    Hi Shashank, yes you can take the exam as a current student. In fact you will get discounted price on the exam fee. Having said that, after passing the exam, you will need to accumulate two years of experience, so you won’t be able to call yourself a CMA at least after two years.

hassnain says December 13, 2015

thanks stephine, i have read part 2 outline. i am familar these concepts but dont have enough grip in it. tell me which book should i chose. gelim or hock?

    Stephanie Ng says December 14, 2015

    Hi Hassnain, whatever you feel more comfortable with! The price is similar these days. Gleim has a free trials that you can sign on. Hock doesn’t have free trials (as they aren’t really deliver everything online) but there are samples to download. Regards, Stephanie

hassnain says December 12, 2015

hi.i want to ask sh0uld i chose part 2 or part 1? which one is eaiser to pass?? as statics show that part 2 is eaiser. and another i want to as.that i chose gelim or hock for study purpose. i have done MBA finance

    Stephanie Ng says December 13, 2015

    Hi Hassnain, you may want to take the one that you are more confident in. For example, if you are stronger in corporate finance, Part 2 may be easier and so could be your first one to take. Regards, Stephanie

Ammar says December 12, 2015

Hi Stephanie ,
I’m in th 4th grade of commerce faculty accounting section , and I’m in the first semester ,so I’m thinking about taking cma and study it in the second semester and taking the exam in October 2016 ,, give me some tips

    Stephanie Ng says December 13, 2015

    Sure you can do that. You may want to sign up for my free mini-course for tips: https://ipassthecmaexam.com/mini-course/

      Ammar says December 16, 2015

      Thanks stephanie , how long can it take to study part 1 and part 2 for average People and for advanced .

        Stephanie Ng says December 16, 2015

        Hi Ammar, the IMA suggests around 150 hours for each part of the exam. In my opinion, if you are familiar with the exam topics, you don’t need as much. Regards, Stephanie

tapan patel says September 10, 2015

Hi stephanie,
I have just complated my bachelors in engineeering . Will i need any work experiecnce for cma

    Stephanie Ng says September 10, 2015

    Hi Tapan,
    Yes you do, but you can do it after passing the exam. Here is the requirement and you can decide whether you are able to fulfill it sometime later: https://ipassthecmaexam.com/cma-experience-requirements/

    Rob says September 11, 2015

    You will have a better time with the cma math questions then those with general business degrees because of the intense math subject matter.
    I am in the midst of it now.

      tapan says September 11, 2015

      Is it similar to gre or gmat math ……i am pretty good at that espciespecially data interpretation and statistics

        Rob says September 13, 2015

        I have never done either of those exams so I don’t know but you can ask if Stephanie if she can compare with those exams and this one.

        Stephanie Ng says September 16, 2015

        Tapan, I have done GMAT ages ago… I find it very different. GMAT doesn’t require any knowledge in a subject (other than basic math and logic, of course). For CMA you must know accounting and other exam content. Regards, Stephanie

Rob says August 10, 2015

Hi Stephanie,
When you sign up for the cma entrance fee, they send you a cma exam support package… what is this for? and is it useful?

    Stephanie Ng says August 12, 2015

    Yes Rob, I think so from what I remember. I can’t say it is enough to help you pass, but it’s helpful to kick start the process.

CMA_Aditya says July 27, 2015

Dear Stephanie,

Good Morning. I just registered with your Website. pls find below my question.

1.) I graduated in Yr 2002 in Mechanical Engineering. I have been working since Jan 2003. Worked
in various Companies across various streams. Since Yr 2010 till date I am working as a MIS Analyst in Banking. I basically create Reports for management and regulators. In these Six years I have started liking Finance domain and wasn’t sure about which certifcation should I do. After a lot of research I got to know about CMA and I want to Pursue a Certification in the same field. of CFA,CPA,CIA and CMA, I feel CMA is the easiest and flexible. Right Now I am working for a Bank as an MIS Analyst in Financial control Unit and want to pursue CMA Certification. I just want to know whether I am Eligible for it and also is it right to start with CMA Certification. Will it help me in my career in future. What are the types of Jobs that I can land in with CMA in future.



    Stephanie Ng says July 27, 2015

    Hi Aditya,
    It’s great to know about your interest in the CMA certification. I am quite sure your current work as MIS analyst is fine to fulfill the requirements, but it is best to double check with IMA before the application. As for what kind of jobs CMAs do, I have this post on the details. As you see the job nature is very broad:


shrinivas says July 19, 2015

Hello Stephanie

I wanted to know
Will I get cma certificate if I finish my 2 years of work experience from 2 different well reputed companies
eg:- Upto 1st year from ABC company and from 2nd year onwards from another XYZ company

    Stephanie Ng says July 19, 2015

    Hi Shrinivas, as long as it is continuous (i.e. no breaks in between), it should be ok. You can also double check with IMA directly. Cheers, Stephanie

Ahmed says July 6, 2015

HI Stephanie,

I’m actually studying Gleim part 1. I’m facing difficulties in learning curves. Concept is easy, simple question I can answer no problem. However, when it gets a little complicated it gets really hard for me. First there’s so many different question can be asked from so many different angles. Second the book is no help at all, I tried some youtube videos but still can’t get it well.

Any advise?

    Stephanie Ng says July 6, 2015

    Hi Ahmed,
    No worries, as this is a common issue among candidates when they start studying. If you are fine with the concepts, then the next steps is to work on the practice questions so you know how to apply the concepts to practice, no matter which angle the examiners try to test you. This is a necessary step for candidates to pass the exam.

ReDa says July 2, 2015

HI Stephanie,

I have done Bachelor of Commerce 02 years ( which called pass bachelor degree in international standards ) and my university is right in list of approved institutions . Plus I have MBA – Marketing 02 years onward from private university which is not listed in said list,,, and I got more than 10 years of accountings experience ,,,, my question here will my bachelor degree of 02 years acceptable ?

kindly reply me asap , so I can start up to IMA procedure of registration.

thank you in advance.

    Stephanie Ng says July 2, 2015

    Hi ReDa, I believe your BCOM + MBA should be fine, but I suggest to double check with IMA. It’s always good to be prudent 🙂
    They can be reached at ima@imanet.org. Copying the above and paste it in your email to IMA is fine. Regards, Stephanie

Hassnain says July 2, 2015

I want to ask what is difference b\w a person who have working experience n non experience person who just passed cma both parts. Is experience give addition advantage? If yes so how?

    Stephanie Ng says July 2, 2015

    Hi Hassnain, in terms of taking the exam with or without the experience, if you have very relevant jobs e.g. in cost accounting, it does help because the exam questions do cover real business situations.

    If what you mean is whether the experience or the lack of it has any impact on your CMA certification, then the answer is definitely yes because without fulfilling the experience, you cannot call yourself a CMA. Passing the exam is only half way. There is nothing like a “CMA affiliate” for those who only pass the exam. Regards, Stephanie

Hassnain says July 2, 2015

Is there any exemption for icaew or CPA USA after complete cma?

    Stephanie Ng says July 2, 2015

    Hi Hassnain, the answer is no for CPA exam. Not too sure about ICAEW. Regards, Stephanie

Shreeya Sharma says May 30, 2015

Pl also enlighten me upon the fees structure per attempt including coaching fees and exam fees in total.

Shreeya Sharma says May 30, 2015

I wanted to know what is the marking scheme of the questions, both MCQs and essay questions and whether there is a negative marking

Halan Manoj Kumar says April 10, 2015

Hi Stephanie,
Glad to share with you that my CMA part 1 results are out and I have passed with a score of 370. Albeit was hoping for a pass I was still keeping my fingers crossed as I had to face an acute sinusitis issue during my preparation days on account of which my Gleim practice results were hovering around 65%-70%.
Having passed part 2 in Dec 2014 with a score of 400 and utilised the waiting period to get the other formalities like fulfillment of academic and experience requirement I can have a sigh of relief. My secret to success is consistent study and practice using Gleim and whenever I am held back I get few doses of motivation by going through your site.
My heartfelt and sincere thanks to you. Your website has been one of the major contributors towards my CMA success.

    Stephanie Ng says April 13, 2015

    Halan that’s wonderful news! Can I move your comment to the success story page? So your story can inspire others 🙂 Stephanie

      Halan Manoj Kumar says April 16, 2015

      Definitely yes. I am really honoured to be a part of success story page.

Karthikeyan says April 10, 2015

Hey Stephanie
I appeared for the cma part 1 and part 2 examination in the month of Feb, 2015.
when will I be receiving my results?

Halan Manoj Kumar says March 19, 2015

Hi Stephanie,

My Part 1 Exam which I gave on Feb 22, 2015 was not bad. Hoping for the best. Meanwhile I am glad to share that my education (science post graduate) and professional experience have been approved by IMA. Having passed Part 2 in Dec 2014 I am left with the final hurdle of Part 2 results.

    Stephanie Ng says March 21, 2015

    That’s great! Looking forward to good news from you 🙂 Stephanie

Archana says February 23, 2015

Hi Stephanie,

I have completed my Bachelors in Commerce degree from India and then did an Indian CPA.
As it is mentioned the CPA is a bit tough to get in and I didn’t want to do CPA immediately. I came across your article. I have an internship and was employed for one year as a part of an Indian CPA – do you think it would count for CMA?Please let me know.

    Stephanie Ng says February 23, 2015

    Hi Archana,
    Generally internships cannot be counted towards the experience requirement, and IMA requires that you work on 2 consecutive years. You don’t need to get this done right away though, because most people take the exam first and then work on to fulfill the experience requirements afterwards. Regards, Stephanie

Halan Manoj Kumar says February 22, 2015

Hi Stephanie. Its almost months since I had posted in your valuable site. All because of a combination of pleasant and unpleasant happenings. I would like to share the former first. I passed my Part 2 CMA with a score of 400 and the results came way back in Dec 2014. The unpleasant happening is that I fell ill for almost a month which disruputed my Part 1 study flow for the entire Jan 2015. For various professional reasons, I somehow wanted to finish it off within this window. Last 1 month gave all my energy in my preparation with lots of personal sacrifices as I had to cover the lost time of Jan. Moreover 50% of the concepts were new to me as I have no experience in costing and budgeting. My performance in Gleim has been fluctuating between 65% to 75%. Fingers crossed !!!. Today (22/2) I will be giving my Part 1.

    Stephanie Ng says February 23, 2015

    Thanks so much for your sharing! I hope the exam went well. It is amazing that you can get to that level while getting sick and facing lots of new materials. Let’s keep our fingers crossed and see the results in a few weeks.

      Halan Manoj Kumar says April 13, 2015

      Definitely. I am glad that my experience is a motivation to exam takers.

Anuja says February 8, 2015

Hi Stephanie,

I am a Graduate (Bachelor in Commerce) from Mumbai University. I want to pursue CMA but I am not able to make a decision on the fact that whether this certification will land me a good job or not ? Please I would like to know your opinion.

rahul says February 3, 2015


Dave says January 8, 2015

Hi Stephanie,

First of all, thank you for maintaining this informative site. I have a question concerning the criteria to sit for the exams. Can one still sit and write the CMA exams even though their educational requirements status is still shown as “pending” or do students have to have this status shown as “complete” before being allowed to sit and write the exams?


    Stephanie Ng says January 8, 2015

    Hi Dave, I believe it is ok if pending means they haven’t received your official transcript. I had the situation myself back then and was able to register for the exam. But if pending means you do not have a bachelor degree, it’s another story… hope it helps! Stephanie

Muhsin Ps says November 6, 2014

Hii, iam a 2 student. With my plus two class itself iam registered for CMA foundation course to become a cma in my young age. Is it possible to run my cma foundation with my plus two class?? Iam also trying to take my master degree with cma courses.. Is it possible to me in my young age 18???

jawad says October 19, 2014

what is the new syllabus for CMA in 2015 please provide details

Hanish Manoj says October 14, 2014

Hi Stephanie,

I took my CMA part 2 exam yesterday. The difficulty level was lesser than I had anticipated thanks to your website and my 20 hours per week – 2 months preparation using Gleim. I am confident that I did pretty well in the MCQs. The essay section was general in nature and had a total of 9 questions covering 2 scenarios. However I was able to attempt only 8 questions for want of time which is haunting me now. In a liklihood scenario of a score of 80% plus in MCQs and a satisfactory performance of 8 questions in essay section and 1 question not attempted, do you think the results would go against me? Please provide a frank feedback.

    Stephanie Ng says October 14, 2014

    Hi Hanish, if you have completed 8 out of the 9 questions in the essay, it’s 89% completion rate. Sounds pretty good to me. Give yourself a big hand! Stephanie

Cheenu says October 11, 2014

Also please advice if Accounts Payable Associate Experience will be counted for taking CMA Exam as i went through the handbook of CMA in which it was mentioned that only below mentioned areas will be covered under valid work experience.

” Qualifying experience consists of positions requiring judgments regularly made
employing the principles of management accounting and financial management.
Such employment includes:
• Preparation of financial statements
• Financial planning & analysis
• Monthly, quarterly, and year end close
• Auditing (external or internal)
• Budget preparation & reporting
• Manage general ledger and balance sheets
• Forecasting
• Company investment decision making
• Costing analysis
• Risk evaluation ”

Please help :I

    Stephanie Ng says October 12, 2014

    Hi Cheenu, it depends whether your role involves analysis or only routine work. I suggest that you email IMA with a detailed description of your job and see if they pre-approve your experience. Please note that ultimately you need to submit a signed verification form so the description has to be accurate. Good luck!

      Cheenu says October 12, 2014

      Hi Stephanie… thanks for the information.. need a little help again as i went through the IMA official site but could not find the exact address to which I should contact for my query regarding work experience… Please help me on that …

        Stephanie Ng says October 12, 2014

        Hello Cheenu, you can email IMA at ima@imanet.org

        If you have applied for membership, it is helpful to include your membership number.


Cheenu says October 11, 2014

Hi.. Can you please advice me the complete details for CMA syllabus and tests details… Would be great if you could help me…

Akshay Kanade says October 7, 2014

hi Sorry i just posted almost an essay and bothering again.

I have heard the Institute of Cost Works Accountants of India(ICWAI) now know as IMA only, has made a tie up with IMA US. So if I appear for CMA exams out of india I get the certification of BOTH. So my one exam is helpful to work in India on a good pay AND USA too.
Kindly ponder over it and if I’m wrong, please guide me. If I’m right, guide me still.

You’re the best! A one person hub for all related updated info.

Akshay Kanade says October 7, 2014

Hi, I have subscribed to your CMA course and getting the updates and insight in CMA. I am pursuing Bachelors in Commerce (Second year) University of Pune(India). I will finish B.Com around March 2016. So shall I take CMA exam in May-June testing window? My University is listed on the said portal. I am appearing for Chartered Accountancy(intermediate) second time, had no luck first time inspite of hard work. I look at CMA as a serious option to CA in India as I want to go to the US and earn big. Hope CMA lets me do that? About study hours and commitment I am ready. Most of the syllabus is covered in our CA Inter portion so I dont have to start from a scratch.
I read the entire work experience stuff, and wanted to know whether the MNCs or corporations in the US are open to CMA’s and CMA’s who are seeking work experience too??

Moreover, where can I get to interact with people (US and Indians) who have become CMAs in the recent past as I want to know about how efficiently one CMA get 2years experience there AND how much the CMA’s are in demand. How much the CMA US is relevant globally. The salary analysis in USA wasn’t that helpful for me. I observed that most people in big companies hold many degrees ALONG WITH CMA… So I just want to reassure. As you know, one wants to be highly aware about In’s and Out’s while chasing ones dreams.

Also, one last thing, I wish to join coaching classes for CMA around Oct2015. I went through Orbit Institutes(affiliated to Becker USA), Morgan, And Miles (affiliated to WILEY). I am pretty confused because their record and info seems so similar.

As you see I have almost an year to join CMA course, take sufficient time and please get back to me. Your website is very efficient and you are a very knowledgeable person yourself.
I trust you the most and will be in contact TILL I enroll and complete my CMA AND after that too. 🙂

Thank you very much! See ya!

    Stephanie Ng says October 8, 2014

    Hello Akshay,
    Thanks for your note. You can certainly take exam the May-June testing window if you are qualified. The question is more on whether the CMA qualification is beneficial to you.

    I would say CMA (and any other certifications) cannot guarantee jobs, because it takes a lot more factors when getting a job. Having said that, it is helpful especially if you want to work in big MNCs, and those with manufacturing base and needs to deal with inventory and costing. On the other hand, service oriented companies e.g. banks are not as useful.

    You are most welcome to chat with other on my facebook page at https://www.facebook.com/ipassthecmaexam

    On coaching classes, I generally recommend online review course. It isn’t that live classes are not good; but it is hard for me to evaluate the quality of the instructors because they move around a lot. If you get stuck with a bad one, it’s really frustrating and a waste of time. You are correct that the offering seems so similar, because they are simply using review materials that you can get online yourself anyway.

    So, if you are like me who are fine with self-study, I encourage you take a look at the online review courses. It is not as convenient but you can still ask questions via email through the customer support. Some providers, such as Gleim, has a personal counselor to handle your questions directly. Here are more details: https://ipassthecmaexam.com/cma-review-course/

    Note: Becker has stopped providing CMA course since 2006. I am not sure how this Orbit Institute can have an affiliate with something no longer exist. But they may have affiliation with Becker on other products.

    In general candidates should be able to pass within a year if put enough time and dedication to the study. There are two parts but 4 testing windows, allowing you to retake twice if necessary.

    Hope it helps! Stephanie

Cheenu says September 19, 2014

Hi…. I have done B.com from India having 2 years experience as an Accounts Payable Associate. Now I was planning to go for either CPA or CMA . I did check out information for both and I guess for CPA one need to have masters degree. Please advice if part time MBA ( Finance ) would work to get into CPA course . Also if i give CMA exam in India will it be accepted in US ?
Thanks in advance for your reply.

sofia iqbal says September 2, 2014

I just need to know that I am acca finalist. am I eligible for cma exams and whats the passing criteria for the exam.thanks

    Stephanie Ng says September 3, 2014

    Hi Sofia, if you are not a full ACCA member yet, you’ll need to go through the same exam requirement as the others, i.e. having a bachelor degree. For details please check out this page: https://ipassthecmaexam.com/cma-exam-requirements/

John says August 2, 2014

I have a B.S. in Organizational Management, and an MBA specialized in Accounting with about 5 years of relevant accounting work experience. I have worked primarily in the Manufacturing field, so Cost Accounting has been my main focus, although I have had responsibility for most accounting processes at some point. Would I be able to qualify to take the CMA exam with these credentials.


    Stephanie Ng says August 3, 2014

    Yes John, you are definitely qualified to take the exam, and since you are in manufacturing it should be a qualification valued in your company and industry. Please let me know if I can be helpful along the way! Stephanie

Deepika says March 26, 2014

Sorry about this…But You know My cousin we both are of same age she also finished here bachelors with me from Delhi university, and joined Deloitte in Delhi, India. And she did her CPA than. I am curious to know how can she be eligible for CPA Exams if she also had the same qualification (Eradicating ICAI completely from my education) I remember she did that in 2009 2010. Can you please help me resolve this puzzle.


    Stephanie Ng says March 26, 2014

    Hello Deepika, no problem, and it is an easy question for me to answer. The state boards made a lot of changes around 2012. Since then, Indian Charter accountancy and ACCA are no longer considered equivalent to a US bachelor degree. In other words, they see these qualifications as professional instead of educational. Stephanie

Deepika says March 25, 2014

Hey Stephanie,

Thanks a lot for your response. At least I got some clarity in a way that only degree will not make a differences. I am very much depressed at the moment so able to take wrong decision…I was thinking if not CPA then CMA or any other course. but Yeah…that not worth…

If possible can you advice me some qualification which can help me improve my CV in terms of qualifications.

I might be creating more work for you. Apologies for the same !!

But will be thankful if you can give me a right path.


    Stephanie Ng says March 26, 2014

    Hi Deepika, can’t really think of a qualification at the moment. Is there a MRA between Indian CA and ACCA? ACCA is also well recognized in Hong Kong (not as good as it used to be, but good enough).

    Otherwise, I would just focus on getting started with any accounting job in Hong Kong. Work in smaller company first, then move on to bigger ones if preferred.

    Qualifications help but in my opinion, a good resume + good interview is equally if not more important in your case.

Deepika says March 24, 2014

Hi Stephanie,

I am a chartered accountant from India and have got 2 years post qualification experience.
I am currently based out in Hongkong and facing the challenges to get a stable job in the required field. Thought to pursue CPA US but seems like 2012 have been a bad year for ppl like me as the US CPA rules changed drastically. But now when i saw CMA then just a question. If I qualify CMA then Can I get some credit hours in order to become eligible for CPA US Uniform exam.

I cant afford to go for regular MBA here in hongkong its too way expensive and i just got married I am looking for something which doesnt hold me for a long. Can you suggest me some better options and ultimately CPA US.

Eagerly waiting for your response. Do reply !!


    Stephanie Ng says March 25, 2014

    Hi Deepika,
    I hear you… CMA could be an option but to be honest, this qualification will likely be recognized only in big, US based corporations in Hong Kong. Also, CMA cannot be used to waive any requirement for CPA (only these statutory qualifications can: https://ipassthecpaexam.com/iqex/).

    If you can get hold of a HKICPA membership, then yes, there is a quick way to become a US CPA… but I would think that process takes even longer.

    You don’t need a US CPA qualification to work in Hong Kong. It might be hard with an Indian qualification, but talk to headhunters and see their suggestions. Can’t think of a quick way to find a job for you for now, but if I do I will drop a note here again. Best of luck! Stephanie

MAYANK CHOPRA says October 24, 2013

Hi Stephanie,

I am a Chartered Accountant (India) & have undergone 3 years of training in the field of auditing, assurance & taxation. Further I have 3 years of experience post qualifying my Chartered Accountancy Degree.

I want to ask will my above mentioned experience is valid to set off my 2 years experience requirement for CMA.

Thanks in advance.

    Stephanie Ng says January 21, 2014

    Hi Mayank, sounds like you can! (but better check with IMA to confirm) Stephanie

Sutej says August 20, 2013

Hi Stephanie,

Am a BCom graduate from Bangalore university in India. I have checked on the url provided on 2013 handbook and my university is listed. I would like to understand what immediate steps do I need to satisfy Educational qualification to be eligible for CMA certification
Really appreciate your help on this

    Stephanie Ng says August 22, 2013

    Hi Sutej, you have pretty much satisfied the qualification requirement, which means you can take the Part 1 and 2 of the exam anytime. After that, in order to become a CMA, 2 years of experience in the relevant field is required. More info here: https://ipassthecmaexam.com/cma-exam-requirements/

JACOB says July 24, 2013


I have completed MBA finance from USA, am in New Delhi. Interested in doing CMA can you please guide me how and were to start and what will be total fee.

ali says June 9, 2013

Hi Stephanie,
Your work deserves high appreciation for guiding to this extent. I’ve a question. I’m ACCA (finalist) and would like to sit for CMA in September. Is it manageable to sit for both parts in one sitting or do you advise giving one at a time. I believe I’ve above average understanding of all the concepts in both parts. But still need courage for giving both at once.
Your reply shall be appreciated. Keep the hard work up.

    Stephanie Ng says June 27, 2013

    Hi Ali, thanks for your note! I am sure there were people doing both parts together and succeeded. I didn’t do it for CMA, but I took 4 parts of the CPA exam within two days (and passed). It all depends on your time commitment and your dedication, and some luck I guess 🙂

Hanan AK says May 28, 2013

My name is Hanan AK and i have done MBA, am 29 years old and working at a Chartered Accountancy firm as an auditor junior (Internee). Due to my 5 years gap in studies I am confused, all I want to do combination of studies which will ultimately lead me to high paid jobs in finance sector…am interested to do CMA than CFA. please let me know is it a good combination? why am considering CMA because it’s more into management line, you can say advance version of MBA and CFA is a standard. what you think, please guide me.
Also I heard that after completing CMA (USA), CFA level 1 is exempted. Is it true???

Please reply me asap. so i can join classes for CMA which is going to start after 1 week.


Hanan AK

    Stephanie Ng says May 28, 2013

    Hi Hanan,
    CMA is good for management (or general) accounting roles in corporations especially those with manufacturing capacity and deals with costing and inventory. It is also good if you aim for strategic planning or management roles in big multinational corporations. If this is what you are generally aiming for, then CMA is an excellent choice.

    CFA would make sense if you go for asset management, hedge funds and financial analyst in investment bank. It is a very different career path. In terms of the exam, there are overlap in Part 2 of CMA and Level 1 of CFA, but I haven’t heard of an exemption…

    Regards, Stephanie

marshall_jayb@yahoo.ca says May 20, 2013

Hello Stephanie,

i am a graduate of accounting and an ACCA Holder with 3years audit experience in a “BIG 4” professional services firm. i am looking to sit for the CMA this year. My questions are:
1. Are there exemptions for ACCA Holders for any of the CMA exam parts?
2. What opportunities are available for CMA holders in USA precisely TEXAS…..I mean are lucrative jobs readily available for CMA Holder in Texas like it is for the CPA Holders.


    Stephanie Ng says May 20, 2013

    Hello, if you are a ACCA holder then you are automatically qualified to take the CMA exam, but there is no exemption on the exam itself. Afterall there are only two parts and it’s pretty hard to get 50-100% exemptions.

    On general job opportunities in Texas, sorry I don’t have an answer since I don’t live in that state, but you can take a look at this salary report compiled by IMA among IMA members in the US:

    I will also work on an analysis based on this report shortly.

elala says April 3, 2013

Hi, I am from Iran. Would you please tell me where can I sit for the CMA exam?

    Stephanie Ng says April 4, 2013

    Hi Elala, I don’t seem to be able to find a prometric center in Iran, so I won’t be able to give you a direct answer. Please contact either the prometric center (administrator of exam site) or IMA for details.

Monica says January 22, 2013

Hi Stephanie,
Do you require work experience to qualify for CMA exam? I am afraid then i won’t be eligible for this exam, i have done my Bachelors in Commerce.

    Stephanie Ng says January 27, 2013

    Hi Monica, if you have bachelors in Commerce, you are qualified! Check out this link and see if your school is on the list:

    If so, then you can apply any time. More info here:

    If not, you can go through the evaluation agencies to get your transcript evaluated with an extra fee. Both ways should work. Good luck! Stephanie

Maggie says January 3, 2013

Hi Stephanie,

I already passed Canada CMA Entrance exam, just wonder is that any help on my USA CAM or CPA? Thank you so much for your kind help!

    Stephanie Ng says January 27, 2013

    Hi Maggie, I am not 100% but sounds like it isn’t helpful to get prerequisite or waiver form either the US CMA. I am 100% sure it won’t work for US CPA. In fact, CMA Canada is good enough for management accounting qualification. I would say you only need to look for CPA if you want an additional credential. We have a lot more info on the US CPA exam here: https://ipassthecpaexam.com

Claudio says November 13, 2012

Hi Stephanie,
‘100% computerized’ means that even the 2 required essays need to be typed?
Thanks in advance!

    Stephanie Ng says November 19, 2012

    That’s correct, and you are welcome! Stephanie

mahesh says August 5, 2012


I am working in Eaton corporation since 5 years as a finanacial analyst i am pursuing mba finance and in third sem i am holding a bachelors in accounting .and also doing cfa level 1. so to get exemptions should i first do my masters in accounting ? or do you suggest to do acca or cima ? which one is best ? how cma will help me and how average time does it take to complete cma ?Kindly advise

    Stephanie Ng says January 27, 2013

    Hi Mahesh, given there are only 2 papers in the CMA exam nowadays, I don’t think there is any exemption (because it’s kind of hard to waive half of the exam). I would just focus on getting it done based on the knowledge you gained from the other professional exams. CFA level one is especially useful for the CMA exam.

    Once you are a CMA you can waive 9 papers out of the 14 required in ACCA: https://ipassthecmaexam.com/acca-exemptions-from-cma/

Hiral says June 25, 2012

Hi…i am a Indian CA. Want 2 knw frm whr wud i get study material for CMA. And for which exam should i appear 1st CPA or CMA?

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