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For students who plan to apply their critical accounting and financial skills to commerce and industry early in their careers, pursuing a Certified Management Accountant (CMA) designation may be a good option.
The CMA is an exam based certification which also has experience and education requirements similar to other certifications. The experience requirement is two years of work in an accounting or finance role. The education requirement is a 120-hour bachelor's degree from an accredited college or university. Students who major or minor in accounting at Champlain College will get the preparation they need to sit for the CMA exams which can be passed while they are still at school.
The exam is in two parts:
· Part 1 addresses the student's preparation in Financial Planning, Performance and Control.
· Part 2 covers skills related to financial decision making.
The two parts focus the student's attention on advanced accounting and financial management skills pertinent to today's workplace. By preparing for and achieving the CMA designation, the student will:
· Join an elite group of operations-focused strategists and decision makers skilled in evaluation, critical thinking and judgment
· Confirm his or her broad business competency
· Better position him or herself for career advancement and greater earning power
· Demonstrate his or her commitment to professional development and professional ethical standards
MEMBERSHIP IN THE INSTITUTE OF MANAGEMENT ACCOUNTANTS
The Institute of Management Accountants (IMA) has a number of competitive scholarships available to allow students to study for and take the exam at no cost. Student memberships in the IMA are a low cost way for students to keep abreast of changes to the Exams and the Certification process. Champlain College currently has faculty members who have achieved the CMA designation and are prepared to help students plan out their course selection in order to maximize their potential success as they take the exams while they are students here!