2023 CMA Part 2: Strategic Financial Management Test Prep

Description

Certified Management Accountant (CMA) is a professional certification credential in the management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics. The CMA is a U.S.-based, globally recognized certification offered by the Institute of Management Accountants.

Why is CMA the best accounting and finance certification?

There are four main reasons that the CMA is the overall best accounting and finance credential

1) The CMA Syllabus is practical and relevant to your job

Everything in the CMA syllabus is something that a business does, or should do. Such a practical syllabus provides a lot of benefits to you:

• It makes studying easier

• The content you learn is useful for your current and future jobs

• The knowledge does not limit you to a specific department or career path

2) You only need to pass two exams

While it may seem at first that only two exams are not enough for a professional certification, the two CMA exams cover a wide range of topics that are all tested in depth. This means that you get a rigorous exam that covers everything it needs to cover, but without a multi-year time commitment. The fact that there are only two exams greatly increases the chances that you will complete the Exams.

3) You only need a Bachelor’s degree and two years of relevant work experience to get your certificate

For the CMA exam, as long as you have a 3 or 4-year Bachelor’s degree in any subject, you meet the education requirement. The experience requirement to get your certificate requires only two years of relevant work experience. Your experience does not need to be with any specific position nor does your supervisor need to be a CMA. Additionally, your experience can be obtained before, during or after you study for your Exams.

4) Your CMA certification is internationally recognized

In all likelihood, you will have a number of different jobs during your career, which may include working for a multinational corporation, or in another country. Because the CMA certification is internationally recognized, it will help you get a job anywhere in the world. Being a CMA will also show others in your organization that you are committed to your profession, and this will help you reach higher levels in your organization.

CMA is the certification that is often the most useful certification for someone who is not certain about where specifically they want to be in five years, but knows that they want to be in the area of accounting or finance, or in management level position in a company.

The CMA syllabus is based on how a business operates and the decisions that a manager in a business needs to make.

The CMA content helps an individual know much more about the operations of the business, and the needs of the decision-makers in the business. This understanding of how management operates a business will ultimately help an individual add value to the business.

The CMA certification will not limit you to only accounting, or only finance, because the syllabus covers many of the areas of a business’s operations in its syllabus.

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