The CMA is the flagship program of the ICMA. On completion, participants will have developed advanced skills of analysis, evaluation and synthesis in the areas of strategic cost and management accounting and business analysis; and, in the process, obtained an in-depth awareness of the current developments in the profession.
The programme can only be taken by a Graduate or Associate member of the Institute; or a student member who has met the pre-requisite entry requirements of the program.
The programme is not designed as one in which highly structured methods and rules are applied to various topics in order to find one “correct” solution or answer for problems or issues. Rather, it is more a possibilities quest, in which various controversial conceptual and practical issues will be reviewed and analysed, with due recognition to the reality of alternative value judgements. Given the history of recent developments in the profession and business practices, this approach to the study of the subject of strategic management accounting and business analysis is considered feasible and warranted.
Furthermore, evidence is available that in managerial accounting and business analysis, procedures continue to evolve and develop. Much of this dynamic activity is in response to changing business practices and policies and the complexity of modern firms.
CMA Program Overview
The CMA Programme consists of two post-graduate level subjects, namely:
ICMA’s Certified Management Accountant (CMA) credential has been assessed for equivalency on the New Zealand Qualifications Framework (NZQF) at the Level 9 (Master’s Degree) by the New Zealand Qualifications Authority (NZQA).
The Institute has obtained industry and university recognition of its education programmes in terms of quality of content and of delivery. The GMA conversion programme (Honours degree level) and the CMA program (Masters degree level) are therefore designed to be equivalent to 6 subjects at the postgraduate level of most Universities in Australia and internationally.
Degree in Accounting, Commerce or Finance, or an MBA, from a recognised university (see FAQ) or Professional Qualification in Accounting, completion the CMA preparatory program; and 5 years relevant experience.
CMA Program Delivery
The CMA Programme is available via a Recognised Provider Institution or via the ICMA’s online provider, the Global Business School.
All Recognised Provider Institutions of the ICMA must ensure that the coursework requirements of the CMA programme subjects must each be equivalent to 39 hours of full-time classroom contact in order to be equated to a university subject. This equivalency may be obtained via classroom, seminar, distance education or multi-media educational modes, or a combination of such.
In a traditional university, each of these subjects would normally run over an entire semester in a university (78 hours in total). However, because of the prior knowledge and experience of participants (C-suite level) and the intensive nature of the program, participants will be able to complete the program over 7 days (56 hours).
The additional 22-hours in universities is taken up by ‘student presentations’ for grades. This is not done in the CMA intensive class. Other than that, participants receive the same training, simulations, and case study experiences as in a regular university master’s degree course.
All those who participate in the program take part in over 24 case studies. This is a very applied educational program; and as per the feedback we have received from most participants – they have been able to apply their learning at their workplace with great success.
It is expected that accredited bodies and recognised providers of the CMA programme will incorporate a research component in both the CMA papers. This research component will usually be either via an assignment, case study, role-playing simulation, individual project or group-learning exercise covering one or more of the topic areas of each of the two CMA programme subjects. The research components of each of the two subjects could also be combined to form a comprehensive project. It is expected that this research component will carry a weight of 50 percent of the total assessment for each subject.
What is the pass rate?
As the participants are guided through the program by the facilitators (similar as in a university) the pass-rates very between 80%-100% depending on region (again similar to a university). Many other professional bodies have lower pass-rates not because their program is “tougher” but because those who undertake their exams do not first go through a rigorous training program guided by the institute itself.
Accredited CMA Subjects in Universities
The Institute has also accredited a number of universities to provide the two CMA subjects as advanced-level managerial accounting courses in their Masters degrees. The two CMA Programme subjects are completed as two post-graduate level subjects in accredited universities.
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