Are you thinking about advancing your career in management accounting? The Institute of Management Accountants' (IMA) Certified Management Accountant (CMA) professional credential could be the key to developing your career. In this blog article, we'll look at four CMA holders' perspectives, as they share their experiences and shed light on the benefits of receiving this desired qualification.
Why Pursue a CMA USA ?
The professionals we interviewed uniformly stated that they pursued the CMA USA degree to advance their careers. Ben Mulling, CFO of TENTE Casters, Inc., chose the CMA to supplement his CPA certification, thereby filling critical gaps in his professional skills. Lon Searle, CFO of YESCO Franchising LLC, aspired to become a top-tier financial leader by preparing for a promotion to CFO.
Time Commitment: A Worthy Investment
Earning the CMA certifications takes a significant amount of time. Meeting the educational and job experience criteria, as well as passing two exams in three years, is no easy task. The time commitment varies, with Ben Mulling finishing in around a year, including study time and exams. Lon Searle, on the other hand, studied for two years, putting in an average of four hours per week.
Susan E. Bos and Steve Kuchen, both CMAs since 1996, offered their perspectives. Bos, who already had CPA certification, studied for the CMA exam for almost a year and a half. Kuchen took around 18 months to acquire his CMA while juggling other commitments.
Passing the Exam: Tips for Success
Given the significant time and expense required, passing the CMA exam on the first try is a frequent objective. Our interviewers were quite helpful. Mulling underlined the need of creating and sticking to a steady study routine, whereas Kuchen emphasized the advantages of in-person study classes and self-guided software packages. Searle advised implementing CMA principles in your profession and becoming familiar with them in a variety of scenarios.
Bos used Gleim books and completed every multiple-choice and essay question, as well as a one-day review course. Her advice is consistent with the belief that diligent preparation leads to success.
Career Impact and Opportunities
The CMA certification opens opportunities and provides a distinct advantage in the employment market. Certain positions, according to Searle, require either a CPA or a CMA credential. Mulling praises the CMA with providing him with essential decision-support abilities that catapulted his career to the level of CFO, particularly during difficult periods such as the financial crisis.
Bos stresses the CMA designation's credibility and visibility in her profession, whereas Kuchen emphasizes the importance of the CMA material in real-world circumstances, not just in finance and accounting but also in areas such as IT.
Conclusion: A Commitment Worth Making
While becoming the CMA requires a major time and resource commitment, the rewards to your career as a management accountant are substantial. If you're serious about growing in your career and expanding your skill set, the CMA designation may be worth the extra effort.