The IMA's Certified Management Accountant (CMA) Certificate Program offered by Villanova University College of Professional Studies (CPS) addresses the needs of managerial finance and accounting professionals as they meet the challenges of the new corporate accounting environment.

Career Defined A certified management accountant (CMA) is an accountant who specializes in financial planning and decision making and has earned certification from the Institute of Management Accountants (IMA). You can become certified by meeting IMA's eligibility qualifications, such as possessing a bachelor's degree, becoming a member of IMA, having at least two years of related experience, and passing a certification exam. Important Facts about This Occupational Field Median Salary (2014) $65,940 ( for accountants and auditors) Job Outlook (2012-2022) 13% ( for accountants and auditors) Key Skills Organizational, communication, math, detail-oriented, analytical Similar Occupations Certified Public Accountant, accounting clerk, budget analyst, personal financial advisor, financial analyst Sources: U.S. Bureau of Labor Statistics CMA versus CPA A CMA credential is different from the Certified Public Accountant (CPA) credential. If you work primarily for businesses and large corporations keeping records and planning for future income and expenditures, you may want the CMA. If you focus on reviewing records and taxation issues, you may want to earn the CPA credential.

CPAs work for individuals, government agencies, and accounting firms, as well as corporations. Educational and Professional Requirements In order to become a CMA, you will first need to have a bachelor's degree. Your degree can be in any subject area, but it may be helpful to pursue a major in accounting.

While working toward an accounting degree, you will study mathematics, business, accounting methods, auditing, and financial analysis. After obtaining your bachelor's degree, you need two to three years' experience in the accounting fields before you are eligible to become CMA-certified. Certification Exam Your final step in becoming a CMA is to pass the certification exam.

The two-part exam covers the broad topics of financial planning and financial decision making. The planning section includes questions on budgeting and cost management, and the decision-making section covers subjects such as investing, corporate finance, and risk management.

Job Duties As a CMA, some of your duties and responsibilities may include dealing with financial strategies set forth by your employer. You may be asked for advice on issues involving taxes, risk and cost management, financial planning, and forecasting.

You will confer directly with management, owners, and CEOs and advise on proper financial planning, control, and decision making. Related Articles • See what you'll study in a Bachelor of Business Administration (BBA) in Management degree. • Find out about the types of jobs you could pursue with a MBA. Read on to learn more about career.

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