Certified Management Accountant (CMA)
A certified management accountant (CMA) is a globally recognized professional certification credential that can be obtained by finance and accounting professionals.
Updated: November 4, 2023
A certified management accountant (CMA) is a globally recognized professional certification credential that can be obtained by finance and accounting professionals. Expertise in various accounting and finance disciplines, including corporate finance, financial planning, management accounting, financial analysis, and professional ethics can be demonstrated.
The Institute of Management Accountants (IMA) offer this and it is obtained by passing a two-part exam. Finance professionals or uncertified accountants who already have their certified public accountant (CPA) certification might consider obtaining their CMA to advance their careers.
CMAs mostly work with upper-level management and play a major role in making important decisions concerning a the finances of a company. A CMA generally focus on data analytics to drive decision making, as well as structuring forecasts and business strategies. Those who are interested in strategic management or executive career paths can get benefits by obtaining a CMA.
Career advancement, Credibility and Increased earning potential are benefits of having a certified management accountant (CMA) credential. Finance and accounting professionals can get the opportunity to work in strategic positions within finance teams with a CMA qualification. Usually, this takes place in big-sized companies, because these organizations have more complex business operations. CMAs can work in a wide variety of industries, such as educational institutions, government agencies, and other large corporations and generally earn higher salaries than their counterparts who do not have the certification.