The CMA ProgramThe CMA ProgramIMA St. Louis ChapterIMA St. Louis Chapter

March 9th, 2010March 9th, 2010

OutlineOutline1.1. CMA Credential CMA Credential

2.2. CMA Certification EligibilityCMA Certification Eligibility

3.3. New CMA exam format announcementNew CMA exam format announcement

4.4. Details of the new CMA exam structure & Details of the new CMA exam structure & implementationimplementation

5.5. Exam formant difference current vs. newExam formant difference current vs. new

6.6. New program benefitsNew program benefits

7.7. Current CMA candidates exam optionsCurrent CMA candidates exam options

8.8. Transition Exam (Part T)Transition Exam (Part T)

9.9. St. Louis IMA Chapter Study Materials St. Louis IMA Chapter Study Materials Discounts & Chapter Website infoDiscounts & Chapter Website info

The Essential Credentialfor Accountants and Financial Professionals

The CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance. Achieving the CMA credential demonstrates your mastery of financial planning, analysis, control, and decision support, as well as professional ethics.

The CMA credential is... ・ Focused—On the critical skills you use in business. ・ Respected—Leading employers seek to hire and promote CMAs.

・ Valued—CMAs earn higher compensation than non-certified professionals.

・ Convenient—CMA Exams are offered electronically in hundreds of locations worldwide.

Eligibility Criteria

Membership in the Institute of Management Membership in the Institute of Management AccountantsAccountants

Paying the Entrance FeePaying the Entrance Fee

Satisfying the Education QualificationSatisfying the Education Qualification - Bachelors Bachelors degree from an accredited college or university (in degree from an accredited college or university (in any major) with assumed knowledge in economics, any major) with assumed knowledge in economics, basic statistics, financial accountingbasic statistics, financial accounting

Satisfying the Experience Qualification - 2 years of Satisfying the Experience Qualification - 2 years of relevant work experiencerelevant work experience

Passing scores for all required examination partsPassing scores for all required examination parts

Compliance with the IMA Statement of Ethical Compliance with the IMA Statement of Ethical Professional PracticeProfessional Practice

To be eligible for CMA certification, you must fulfill all of the following requirements:

ICMA updates CMA exam formatICMA updates CMA exam formatTo ensure that the CMA remains the most appropriate To ensure that the CMA remains the most appropriate designation for accountants and financial professionals designation for accountants and financial professionals

in business, the Institute of Certified Management in business, the Institute of Certified Management Accountants (ICMA) announced a change to the format Accountants (ICMA) announced a change to the format

and curriculum of the CMA exam programand curriculum of the CMA exam program

• December 1, 2009December 1, 2009 New Program New Program AnnouncementAnnouncement

• Spring 2010Spring 2010 Registration Opens For New ProgramRegistration Opens For New Program

• May 1, 2010May 1, 2010 New Exam Available for TestingNew Exam Available for Testing

• December 31, 2010December 31, 2010 Completion Deadline for Current Completion Deadline for Current ProgramProgram

Important Timeline

New Program Benefits Focused on critical subject matter:

Financial planning, analysis, control, and decision support

Highly Relevant to marketplace needs Advanced level of certification

Maintains rigor and integrity Convenient for time-sensitive candidate Differentiated from other certifications

Focused on the essential body of knowledge for accounting and financial professionals working within organizations

Note: CMA Exam marketing expenditures are increasing this year

New Two-part Exam FormatNew Two-part Exam FormatPart 1 – Financial Planning, Performance and Control

Planning, budgeting and forecasting (30%)Performance measurement (25%)Cost management (25%)Internal Controls (15%)Professional Ethics (5%)

Part 2 – Financial Decision MakingFinancial statement analysis (25%)Corporate finance (25%)Risk management and decision analysis (25%)Investment decisions (20%)Professional Ethics (5%)

1. Each exam part is four hours long: - 3 hours multiple choice and 1 hour essay

2. Exam parts can be taken in any order (and on the same day if desired)

3. All topics tested up to “C” level competence - ability to synthesize and make recommendations

4. Must score at least a 50% on the multiple-choice section of the exam to be eligible to take essay section.

5. No immediate result provided; grades mailed several weeks after close of testing window

New Exam Timing, Test Windows, New Exam Timing, Test Windows, DeliveryDelivery

New exam registration begins Spring of 2010 – New exam registration begins Spring of 2010 – testing window start May/June 2010testing window start May/June 2010

3 exam windows of 2-month duration per year 3 exam windows of 2-month duration per year (similar to exam windows for current multiple (similar to exam windows for current multiple choice exams)choice exams)

January/FebruaryJanuary/February May/June May/June September/OctoberSeptember/October

3 years to complete the exams from date of 3 years to complete the exams from date of program enrollment. Must take at least 1 exam program enrollment. Must take at least 1 exam part within 1 year from enrollmentpart within 1 year from enrollment

Exams will continue to be administered by Exams will continue to be administered by computer at Prometric testing centerscomputer at Prometric testing centers

Key DifferencesKey Differences

New CMA StructureNew CMA Structure 2 parts, 8 hours2 parts, 8 hours 2 hours of essay, 1 hour in 2 hours of essay, 1 hour in

each parteach part Focused subject matterFocused subject matter All topics up to C levelAll topics up to C level 3 years to complete3 years to complete Must take 1 exam part in first Must take 1 exam part in first

yearyear No waiversNo waivers

Current CMA Current CMA StructureStructure

4 parts, 13 hours4 parts, 13 hours Part 4 capstone: 3 hours of Part 4 capstone: 3 hours of

essayessay Broad subject matterBroad subject matter Some topics up to C levelSome topics up to C level 4 years to complete4 years to complete No time requirement to No time requirement to

take examstake exams Waiver for part 1Waiver for part 1

Will exam fees change?Will exam fees change?

ProfessioProfessionalnal

Student/ Student/ Academic Academic

Entrance Entrance FeeFee

200 200 75 75

Part 1Part 1 190 190 95 95

Part 2Part 2 190 190 95 95

Part 3Part 3 190 190 95 95

Part 4Part 4 190 190 95 95

TotalTotal 960 960 455 455

ProfessioProfessionalnal

Student/ Student/ AcademicAcademic

Entrance Entrance FeeFee

200 200 75 75

Part 1Part 1 350 350 175 175

Part 2Part 2 350 350 175 175

Total – Total – 2 2 sittingssittings

900 900 425 425

1 sitting 1 sitting creditcredit

(100)(100) (50)(50)

Total Total - 1 - 1 sittingsitting

800 800 375 375

Current CMA Testing FeeCurrent CMA Testing Fee New CMA Testing FeeNew CMA Testing Fee

Current exam entrance ends February 28, 2010 Current exam entrance ends February 28, 2010

Registration for exam parts in the current Registration for exam parts in the current program ends September 30, 2010 for parts 1, 2 program ends September 30, 2010 for parts 1, 2 and 3, and ends December 15, 2010 for part 4and 3, and ends December 15, 2010 for part 4

All of the current CMA examination parts (Parts 1, All of the current CMA examination parts (Parts 1, 2, 3 & 4) will be available at Prometric Testing 2, 3 & 4) will be available at Prometric Testing Centers until December 31, 2010Centers until December 31, 2010

Automatic transfer to new program if you do not Automatic transfer to new program if you do not pass all four examination parts of the current pass all four examination parts of the current CMA program by the deadlineCMA program by the deadline

Current Exam Timing ,Test Current Exam Timing ,Test Windows, DeliveryWindows, Delivery

Options for Current CMA Options for Current CMA CandidatesCandidates

Current Exam Parts Passed Parts Remaining in New Program

Part 1-Business Analysis Part 1-Financial Planning, Performance & Control and Part 2-Financial Decision Making

Part 2-Management Accounting & Reporting

Part 2-Financial Decision Making

Part 3-Strategic Management Part 1-Financial Planning, Performance & Control

Part 2-Management Accounting & Reporting, and Part 3-Strategic Management

Part T-Transition exam

Current candidates may complete remaining exam parts in the existing program by 12/31/2010 or transition to the new program at any time in 2010

Part T -Transition ExamPart T -Transition Exam For candidates who have passed current For candidates who have passed current

parts 2, 3 and/or 1parts 2, 3 and/or 1 Two hours in length, four 30 minute essay Two hours in length, four 30 minute essay

on subject matter outlined in new parts 1 on subject matter outlined in new parts 1 and 2and 2

Available starting May/June 2010 testing Available starting May/June 2010 testing window until February 28, 2013 (due date window until February 28, 2013 (due date for passing)for passing)

Cost $225Cost $225 May take Part T up to three times per May take Part T up to three times per

year until due dateyear until due date

St. Louis IMA Chapter St. Louis IMA Chapter DiscountsDiscounts

Contact Chapter Coordinator -Contact Chapter Coordinator -

Melissa Leonard :Melissa Leonard :

Phone : (800) 874-5346, ext.131Phone : (800) 874-5346, ext.131

Fax : (888)375-6940Fax : (888)375-6940

EEmail: ail: melissa.leonard@gleim.com

Chapter members receive a 20-Chapter members receive a 20-32% discount 32% discount

Apply promotional code Apply promotional code IMASTL IMASTL

Chapter members receive 10% Chapter members receive 10%

discount discount

St. Louis IMA Chapter St. Louis IMA Chapter WebsiteWebsite

Check website for CMA program info --http://stlouis.imanet.org