CMA Presentation.pptx

Management Accoun-ng/ Corporate Finance Employers at BYU Alphabet Soup!
•  Cer$fied Public Accountant (CPA) •  Cer$fied Accounts Payable Professional (CAPP) •  Cer$fied Bookkeeper (CB) •  Cer$fied Management Accountant (CMA) •  Cer$fied Treasury Professional (CTP) •  Cer$fied Defense Financial Manager (CDFM) •  Cer$fied Government Audi$ng Professional (CGAP) •  Cer$fied Public Finance Officer (CPFO) •  Cer$fied Bank Auditor (CBA) •  Cer$fied Financial Services Auditor (CFSA) •  Chartered Financial Analyst (CFA) •  Cer$fied Financial Planner (CFP) •  Cer$fied Forensic Financial Analyst (CFFA) •  Cer$fied Fraud Examiner (CFE) •  Cer$fied Internal Auditor (CIA) •  Cer$fied Risk Professional (CRP) •  Cer$fied Supply Chain Professional (CSCP) •  Cer$fied Informa$on Systems Auditor (CISA) •  Cer$fied Credit Execu$ve (CCE) •  Cer$fied Payroll Professional (CPP) Source: Robert Half “Guide to Cer$fica$ons for Accoun$ng, Finance and Opera$ons Management” Page 3
What is IMA? §  The leading association dedicated to developing,
certifying, connecting, and supporting the world’s
best accountants and financial professionals in
business
§  A network of 70,000+ members worldwide with
200+ chapters
§  Global office in US; regional offices in China, Europe
and Middle East
§  Provides best-in-class certification for critical internal
financial management responsibilities, including
planning, budgeting, business reporting, decision
analysis, and risk management
3 What Does the IMA Provide? 4 Who Are Management Accountants? 5 VIDEO Page 3
What is the CMA? § 
IMA’s cer$fica$on for accountants and financial professionals in business. § 
The CMA® (Cer$fied Management Accountant) creden$al demonstrates a mastery of management accoun$ng knowledge and skills. It assures employers of on the job competency to improve organiza$onal performance. § 
Exclusive only to IMA members, the CMA creden$al drives the career poten-al of candidates beyond their peers. 7 What’s It Worth?
Source: IMA 2014 Salary Survey Costs to Take the CMA Exam
•  IMA Membership is $145 for young professional (<33 years old), and
$220 for standard (old) professionals.
–  $39 for students!
*** SPECIAL OFFER FOR BYU: Join for just $25 per year!!
USE CODE: JOIN1425LB
!
•  Exam registration will be $395 per part. If a candidate registers for both
parts at the same time for the same testing window, the fee will be $330
per part.
–  $296.25 per part for students!
•  The $240 entrance fee into the program.
–  $120 for students!
*** SPECIAL OFFER FOR BYU: Waive this fee – no cost!!
USE CODE: STUCMA7514 !
Two-Part Exam Format •  Each exam part is four hours long:
3 hours multiple choice and 1 hour essay
•  Exam parts can be taken in any order (and on the same day if desired)
•  Must score at least a 50% on the multiple-choice
section of the exam to be eligible to take the essay
section.
•  No immediate result provided; grades mailed
several weeks after close of testing window
•  Passing Score: 72%
Timing, Test Windows, Delivery
• 
Three years to complete the exams from date of
program enrollment. Must take at least one exam
part within one year from enrollment • 
Three exam windows of two-month duration per
year •  January/February
•  May/June
•  September/October
• 
Tested in Prometric testing centers
Two-Part Exam Format
•  Part 1 – Financial Planning, Performance and Control
–  Planning, budgeting and forecasting (30%)
MBA 502 –  Performance measurement (25%)
(some) plus –  Cost management (25%)
Acc 531 –  Internal Controls (15%)
–  Professional Ethics (5%)
Take A Test Drive!
•  Part 2 – Financial Decision Making
MBA –  Financial statement analysis (25%)
501/524 plus –  Corporate finance (25%)
MBA 520/527 –  Risk management and decision analysis (25%)
–  Investment decisions (20%)
–  Professional Ethics (5%)
Two-Part Exam Format •  Each exam part is four hours long:
3 hours multiple choice and 1 hour essay
•  Exam parts can be taken in any order (and on the same day if desired)
•  Must score at least a 50% on the multiple-choice
section of the exam to be eligible to take the essay
section.
•  No immediate result provided; grades mailed
several weeks after close of testing window
•  Passing Score: 72%
Two-Part Exam Format
•  Part 1 – Financial Planning, Performance and Control
–  External Financial Reporting Decisions (15%)
–  Planning, budgeting and forecasting (30%)
–  Performance measurement (20%)
–  Cost management (20%)
–  Internal Controls (15%)
•  Part 2 – Financial Decision Making
–  Financial statement analysis (25%)
–  Corporate finance (20%)
–  Decision analysis (20%)
–  Risk management (10%)
–  Investment decisions (15%)
–  Professional Ethics (10%)
Part 1 – Performance Measurement
Part 1 – Cost Management
Part 2 – Corporate Finance
Part 2 – Investment Decisions
Free Preparation Resources
• IMA CMA Exam Support Package
•  Downloadable multiple-choice and essay practice questions
and an online assessment tool with multiple-choice exams
for Parts 1 and 2
•  Free with your exam entrance fee
•  Link
• Gleim CMA Diagnostic Quiz
•  A representative sample of 40 multiple-choice questions for
each exam part to identify strengths and any weaknesses
before you start preparing for the CMA exam
•  Emulates the Prometric testing environment so you can see
what questions will look like in test conditions
•  Free on demand
•  Link
Useful, but not enough Additional Preparation Resources
• Many Self-Study Courses
•  Link
• Recommended
• Wiley CMA Learning System
• $1,110 total price for complete system
• Gleim CMA Review System
• BYU has special pricing with Gleim
• $666 total price à see handout
• Online resources only are $175 per part à
$350 for both
BYU CMA Workshops
• Presented by fellow BYU student
• Ethan Graham, CMA
• 30 minute introduction and “test drive” of various
exam sections
• Thursdays, 5:00pm
• Watch the BYU IMA Website for more information!
IMA Schools Exam Prep Providers Employers AICPA States Exam Prep Providers NASBA Schools Employers The Calendar to Prepare and Pass Both Exams! Jan Feb CPA CPA CMA CMA Mar April May CPA CPA CMA June CMA July Aug CPA CPA Sept CMA Oct Nov CPA CPA CMA *Visit www.prometric.com/cpa for CPA Exam Tes$ng Informa$on and Tes$ng Centers *Visit www.prometric.com/icma for CMA Exam Tes$ng Informa$on and Tes$ng Centers Dec The Calendar to Prepare and Pass the Exam! Jan Feb Mar CMA CMA April May June CMA CMA July Aug Sept Oct CMA CMA Nov *Visit www.prometric.com/icma for CMA Exam Tes$ng Informa$on and Tes$ng Centers Dec Commit to a date, and get it done it fast! A Student Email A Sample Schedule April May June July August September Thank you for encouraging us to take the CPA exam quickly ager we graduated. I took 2 parts in May, and the other 2 sec$ons uly (w
June lackout I passed parts, and Graduate Study for two in JTwo eek was a b
Take two month). Take CMA all four Start your now I don't have weeks to worry about break! them when I start work. Io df efinitely agree with your sec$ons Exam—only career with recommenda$on window. You and the opther at BYU Take a short to finish all four parts in a short the CPA Exam three arts ipf rofessors six leeers prepared for the exam and our pfor rofessions. break! us well Take two Study two CPA is passed behind your sec$ons of weeks Short Break! (plan on it!) name!! CPA Exam Start studying Short Break! for CMA Commit to a date, and get it done it fast! A Student Email A Sample Schedule I just wanted to say THANK YOU! I took your advice, per the email below, and took both parts of the CMA this summer. I took CMA Part 1 on June 6th and CMA Part 2 on June 13th. I recently found out that I passed both exams with scores of 80% and 88% respec$vely. I Graduate wanted to write you to Study let you kfnow y thoughts on w
the CMA and the Take process of preparing for the exam so that fellow BYU sytudents or tmwo Two eek two Take CMA Start our can pass both parts of the exams. weeks break! sec$ons of Exam—only career with I Take took your dvice and g ot the Gleim study material. and C
access a program that hp
ad prac$ce I felt that this a sahort $208 for two books the PA Eto xam three arts if problems. six leeers was a great investment. The books are all that BYU students need. The books that Gleim sends are in outline form and provide 1,500 break! Take two for two website, they offer free CPA is passed your prac$ce ques$ons for each exam. In addi$on, I Study found out that on the IMA prac$ce tests (with nbehind o explana$ons to the ques$ons). I have also aeacked porac$ce that I found on tShort he IMA wBebsite. Basically, if a student wants to name!! use the IMA sec$ons f ques$ons weeks reak! (plan on it!) website, saving $208, then I think they could pass the exam. CPA Exam tudying Short I took your advice and studied 1 week for each exam, approximately 30 Start hours, s
and passed each exam. Break! for CMA I believe that the classes that best prepared me to pass the exam were ACC 402 (CMA Part 1) and ManEc 453 (CMA Part 1 and 2). I have taken both BUSM 520 and MBA 622 and felt that the topic covered in these classes were well beyond what the CMA was tes$ng (not necessary classes to pass the exams). I am a student that runs with the pack at BYU, always gerng test scores that are near the average of the class, and I felt that I was well prepared for the CMA exam by the classes I took at BYU. I say that because I feel like most, if not all, BYU students will be able to pass this exam with ease. It just shows how well you and the other professors have successfully prepared us. April May June July August September Commit to a date, and get it done it fast! A Student Email A Sample Schedule April May June July August September I just wanted to let you know I passed the first part of the CMA Exam! Graduate Study for two Two week Take two Take CMA Start your I used the Gleim weeks book. I kind of reviewed but ost helpful thing career with break! the ques$ons, sec$ons of the mExam—only was ques$ons/prac$ce exams nline from G
leim p(they Take tahe short you can download the CoPA Exam three arts icf ome six leeers with the purchase of tthe would for prac$ce review concepts break! Take wo book). I Study two t hose and then go CPA is passed behind your I didn't really understand book or materials from class. (plan on it!) sec$ons ouf sing the weeks Short Break! name!! CPA Exam As far as hours invested, I probably spent around Start 45 – sI tudying intended tShort o do aB reak! liele everyday, but due to my spring classes I ended up spending the for three days before my exam in the library CMA for about 8-­‐10 hours a day. Commit to a date, and get it done it fast! A Sample Schedule for 2015 April grads April May June July August September Graduate Vaca$on for two weeks Study for two weeks Take First CMA Part Study for one week Take Second CMA Part Break! Study for three weeks Take First CPA Part Study for one week Take Second CPA Part Study for one week Take Third CPA Part Study for one week Take Fourth CPA Part Start your career with six leeers behind your name!! Commit to a date, and get it done it fast! A Sample Schedule for 2016 April grads taking an internship Summer 2015 April 2015 May 2015 June 2015 July 2015 Summer Break Internship Study for three weeks Take First CMA Part Internship Internship Study for two weeks Take Second CMA Part August 2015 Sept 2015 Finish Internship Three week vaca$on! Return to school with three leeers behind your name! Commit to a date, and get it done it fast! A Sample Schedule for 2016 April grads taking an internship Summer 2015 April 2015 May 2015 June 2015 July 2015 August 2015 Sept 2015 Graduate Vaca$on! Vaca$on for one week Study for three weeks Take First CPA Part Study for one week Take Second CPA Part Study for one week Take Third CPA Part Study for one week Take Fourth CPA Part Vaca$on for two weeks! Start your career with six leeers behind your name!!