Founded in 1919, IMA states in its mission that its role is to provide a forum for research, practice development, education, knowledge sharing, and the advocacy of the highest ethical and best business practices in management accounting and finance.

A certified management accountant (CMA) is an accounting professional who is experienced in financial decision-making. Having a CMA certification shows high-level skills in managing corporate finances, in addition to accounting tasks like organizing and summarizing financial data.

People with a certified management accountant (CMA) certification can work in corporate financial accounting and strategic management. Professionals may choose the CMA pathway because it covers different topics than the certified public accountant (CPA) certification.

certified management accountant The certified management accountant (CMA) designation indicates expertise in financial accounting and decision-making. This certification prepares professionals for a wide variety of careers. CMAs are required to adhere to a strict set of professional standards, in addition to passing a rigorous two-part exam.

CIMA focuses on developing knowledge for strategic and business leadership roles. Job roles that would suit a CIMA qualification include management accountant, business analyst, project manager, and finance controller. ACCA concentrates on the advanced skills and principles of accounting.

Financial accounting focuses on the overall value of a company's assets and liabilities, whereas managerial accounting analyzes the assets and liabilities to understand a company's profit and productivity.

Through its work, the CMA aims to create an environment where: People can be confident they are getting great choices and fair deals. Competitive, fair-dealing businesses can innovate and thrive.

Based on CMA pass rates alone, I'm not surprised that many potential candidates are put off from wanting to tackle this exam. In fact, the majority of candidates don't get a passing score. With CMA exam pass rates as low as 45% for Part One and also 45% for Part Two, there is obviously a high level of difficulty.

Both certifications are globally recognized and respected in the accounting profession, but the ACCA is more recognized in Europe, Asia, and Africa, while the CMA is more recognized in the United States. The prerequisites, exam format, and professional designation also differ between the two certifications.

Job Opportunities and Earning Potential Searle says the CMA certification provides a very large advantage in the job market. There are jobs that require either a CPA or CMA designation, he says. CMAs are exceptional when it comes to supervising teams, managing projects, and making high-level business decisions.

If you're looking to pursue a management or strategic business role, then a CIMA qualification may be better for you. However, both qualifications are highly respected and globally recognised. An ACCA qualification may be more suited to you if you are aiming to gain specialist accounting knowledge and skills.

The CIMA qualification is more demanding, as it does not let you move forward until you pass one set of exams, compared with ACCA which allows you to study towards multiple sets of exams simultaneously. This qualification is more challenging overall, and for this reason, it is highly respected by employers.