Friends, bouquets full of thanks to all of you for my previous article on CFA (US) & CPA (US). I received a number of thanks and appreciation from all of you. This inspired me a lot for writing this article. Also the comments and feedback from you helped me to improve the same. In this article, I tried to compile the information in an understandable manner for the CMA (US) & CMA (UK) aspiring candidates. I hope it will be in interest of aspiring students and will try to make them more clear and aware about the various points before undertaking the said Courses.
Both Courses have same abbreviations as CMA, however IMA (US) provides a certified course and stands for Certified Management Accountant and CIMA (UK) provides a Chartered designation and stands for Chartered Management Accountant.
This article contains the contents of the two
courses in the way of suitability, eligibility, exam contents & structures, course
fees and other relevant points. Also, relevant link to the respective pages directly
from the institute sites are provided for detail information, if required by anybody.
Find the details of the two courses in the below
explanation. I hope it clarifies various doubts and questions related to the said
courses.
www.imanet.org
►
About the Course
The Institute of Management Accountants (IMA)
provides a dynamic forum for management accounting and financial professionals to
develop and advance their careers through its Certified Management Accountant (CMA)
program. IMA Global Headquarters is located in Montvale, New Jersey, USA.
|
Institute of Management
Accountants
|
IMA Global Customer Service |
►
Suitability
Candidates interested to pursue career as accounting
and financial management skills, risk analysis, internal controls, financial decision
making.
►
Eligibility
a.
Educational Requirement
> Verification of one of the following must be presented prior to completing
the examination or within seven years of passing the examination in order to
complete the education requirement
i.
Have a bachelor's degree from
an accredited college or university.
Degrees not from accredited foreign
institutions must be evaluated by an independent agency listed at
www.aice-eval.org
or
www.naces.org.
Click for list of Indian Certified Colleges & Universities. >
http://www.imanet.org/certification_sep_Ind.asp
i.
Professional qualification comparable
to the CPA, CMA, etc.
Click for List of professional credentials
http://www.imanet.org/certification_started_education_professional.asp
Relevant Point > Students pursuing
in above courses can also apply since, the requirement can be fulfilled prior or
within seven years of passing the examination.
b.
Experience Requirement
> 2 Continuous years of professional experience in management accounting and/or
financial management.
i.
This requirement may be completed
prior to or within seven years of passing the examination.
ii.
However, continuous part-time
positions of 20 hours per week meeting the definition of qualified experience will
count toward this requirement at a rate of one year of experience for every two
years of part-time employment.
iii.
Qualifying experience consists
of positions requiring judgments regularly made employing the principles of management
accounting and financial management. Such employment includes financial analysis,
budget preparation, management information systems analysis, financial management,
management accounting, and auditing in government, finance or industry; management
consulting; auditing in public accounting; research, teaching or consulting related
to management accounting or financial management.
iv.
Employment requiring the occasional
application of management accounting principles such as in computer operations,
sales and marketing, manufacturing, engineering, personnel, and general management
will not satisfy this requirement.
v.
Internships and trainee, clerical,
or non-technical positions do not provide appropriate experience to fulfil this
requirement.
Relevant Point > Students not
having required experience presently can also apply since, the requirement can be
fulfilled prior or within seven years of passing the examination
c.
Exam Requirements
>
There are two parts to the CMA exam, consisting
of four hours each, which can be taken in any order. Exam is structured as follows:
|
PART I Financial Planning, Performance and Control Planning,
budgeting, and forecasting Performance
measurement Cost
management Internal
controls Professional
ethics |
PART II Financial Decision Making Financial
statement analysis Corporate
finance Decision
analysis and risk management Investment
decisions Professional
ethics |
All three conditions must be fulfilled to be
eligible to get CMA Certification.
Relevant Points > If Experience
requirement is fulfilled, the minimum duration is approx 6 months (depends upon
preparation).
●
Exam Centres
At Prometric Testing Centres located throughout
the U.S. and Internationally. Check at Prometrics website
http://www.prometric.com/ICMA/default.htm.
Identification Requirements >
●
For admission to Prometric Test
Site you must present a VALID (non-expired) Passport for admittance to exam,
OR
●
Two other original forms of non-expired
identification, one with a photograph, both with your signature.
●
Approved photo IDs are a driver's
license, military ID, National country ID card, credit card with photo, Bank Debit
Card with signature or company ID.
●
Student
IDs and social security cards are not acceptable.
●
Exam Format
Candidates for CMA certification must
complete two examination parts
|
Part
1: Financial Planning, Performance
and Control (4 Hours) |
Part
2: Financial Decision Making
(4 Hours) |
|
>
100 multiple-choice questions
(3 Hrs) and
>
Two 30-minute essay questions
(1 Hrs) |
>
100 multiple-choice questions
(3 Hrs) and
>
Two 30-minute essay questions
(1 Hrs) |
|
>
Planning, Budgeting and
Forecasting (30%)
>
Performance Management
(25%)
>
Cost Management (25%)
>
Internal Controls (15%)
>
Professional Ethics (5%) |
>
Financial Statement Analysis
(25%)
>
Corporate Finance (25%)
>
Decision Analysis and
Risk Management (25%)
>
Investment Decisions (20%)
>
Professional Ethics (5%) |
●
The essays will be presented after
you have completed the multiple-choice section of the exam or after 3 hours, whichever
comes first.
●
Once you complete and exit the
multiple-choice section of the exam, you cannot go back. You
must remain in the essay section to complete the exam.
●
You MUST answer at least 50% of
the multiple-choice questions correctly to be eligible to take the essay section.
●
Candidates are not required to
pass both sections; the total score determines pass/fail status.
●
The scores will be mailed approximately
6 weeks after the close of the testing window.
●
You will receive feedback on your
score only for the multiple choice section of the exam for those who did not pass
the exam
●
Exam Pattern
●
Computer-based format.
●
Parts 1 and 2 will be given during
the following three testing window periods:
-
January and February
-
May and June
-
September and October
If a candidate registers to test during a specific testing window and fails
to take the exam, the candidate
must register again and pay the FULL registration fee
►
Course Fees
a.
Entrance Fees >
The Entrance fee is $200.00 for Domestic/International
Members.
i.
The Entrance Fee for the certification
program must be paid before taking the examinations.
ii.
Candidates must complete the CMA
program within 3 years
from entry into the program.
iii.
Candidates also must register
for an exam part within the first
12 months
of entering the program.
If a candidate does not register for an exam part within the first 12 months of
entering the program, they will have to
REPAY
the entrance fee.
iv.
If both exam parts are not successfully
completed within 3 years of entering the certification program, the passed part
will expire and the entrance fee will have to be repaid.
Entrance Fee includes:
i.
Six months access to the CMA
Support Package consisting of sample questions and answers and the CMA Assessment
Tool.
ii.
Performance feedback reports for
the multiple choice questions
iii.
Review of educational and experience
credentials
iv.
Electronic access to the CMA Resource
Guide
v.
Final score report upon completion
of the exams
vi.
Certificate upon completion of
all requirements
vii.
Employer notification of achievement
if desired
viii.
Maintenance of continuing education
records
b.
Examination Fees >
i.
The exam registration fee will
be $350 per part.
ii.
If a candidate registers for both
parts at the same time for the same testing window, the fee will be $300 per part.
iii.
The entrance fee is NOT Refundable.
iv.
After 30 days from the date of
registration, examination fees are NOT Refundable.
v.
Within 30 days of the registration
date an examination fee may be refunded if no test appointment has been set. A $25
processing fee will be subtracted from the refund.
Relevant
Points > Examination fees is to be
paid at the time of registration for examination only.
>
Total Course Fees amounts to approx $900.
►
Registration Procedure
a.
Enrol in the CMA program by paying
admission fees on line through credit card.
b.
Register for exam by paying examination
fees normally six weeks before you wish to take an exam as this will allow sufficient
time for you to receive your authorization letter and schedule a convenient appointment
at a Prometric Testing Centre.
c.
Registration for Parts 1 and 2
received on or after February 16th, June 16th, or October
16th will be authorized for the next testing window; registrations received
prior to these dates will be authorized for the current testing window.
d.
Once you have received authorization
from ICMA, schedule your appointment at a Prometric Testing Centre within the stated
time period. Log onto www.prometric.com/ICMA to locate a testing centre, schedule,
confirm, reschedule, or cancel your appointment 24 hours, 7 days a week.
e.
If you do not schedule an appointment
in the selected testing window, you will forfeit your exam fee.
f.
Cancel your appointment at www.prometric.com/ICMA
not later than 72 hours before the appointment. . If you do not comply with this
cancellation policy, you will be considered a no-show and you will need to reregister
with ICMA and repay the examination fee.
►
Course Contents
Part 1 - Financial
Planning, Performance and Control
A. Planning,
Budgeting and Forecasting (30%) (Level C)
Planning process; budgeting
concepts; annual profit plans and supporting schedules; types of budgets, including
activity-based budgeting, project budgeting, flexible budgeting; top-level planning
and analysis; and forecasting, including quantitative methods such regression analysis
and learning curves.
B. Performance Management (25%) (Level
C)
Factors to be analyzed
for control and performance evaluation including revenues, costs, profits, and investment
in assets; variance analysis based on flexible budgets and standard costs; responsibility
accounting for revenue, cost, contribution and profit centres; and balanced scorecard.
C. Cost Management (25%) (Level C)
Cost concepts, flows
and terminology; alternative cost objectives; cost measurement concepts; cost accumulation
systems including job order costing, process costing, and activity-based costing;
overhead cost allocation; operational efficiency and business process performance
topics such as JIT, MRP, theory of constraints, value chain analysis, benchmarking,
ABM, and continuous improvement.
D. Internal
Controls (15%) (Level C)
Risk assessment; internal
control environment, procedures, and standards; responsibility and authority for
internal auditing; types of audits; and assessing the adequacy of the accounting
information system controls.
E. Professional
Ethics (5%) (Level C)
Ethical considerations
for management accounting professionals.
Part 2 - Financial
Decision Making
A.
Financial Statement Analysis (25%) (Level C)
Principal financial statements
and their purposes; limitations of financial statement information; interpretation
and analysis of financial statements including ratio analysis and comparative analysis;
market value vs. book value; fair value accounting; international issues; major
differences between IFRS and U.S. GAAP; off-balance sheet financing; Cash Flow Statement
preparation, analysis, and reconciliation; and earnings quality.
B.
Corporate Finance (25%) (Level C)
Types of risk; measures
of risk; portfolio management; options and futures; capital instruments for long-term
financing; dividend policy; factors influencing the optimum capital structure; cost
of capital; raising capital; managing and financing working capital; mergers and
acquisitions; and international finance.
C.
Decision Analysis and Risk Management (25%) (Level C)
Relevant data concepts;
cost-volume-profit analysis; marginal analysis; make vs. buy decisions; pricing;
income tax implications for operational decision analysis; operational risk, hazard
risk, financial risk, and strategic risk; and ERM.
D.
Investment Decision (20%) (Level C)
Cash flow estimates;
discounted cash flow concepts; net present value; internal rate of return; non-discounting
analysis techniques; income tax implications for investment decisions; ranking investment
projects; risk analysis; real options; and valuation models.
E.
Professional Ethics (5%) (Level C)
Ethical considerations
for the organization
www.cimaglobal.com
►
About CIMA
The Chartered Institute of Management
Accountant (CIMA) Professional Qualification provides more strategy, more management
accounting and more relevance across a broad business perspective. With its emphasis
on strategic business skills, the CIMA Professional Qualification is a springboard
to success both within and outside the finance arena. CIMA Chartered Management
Accountants combine a high level of financial and management expertise with excellent
business acumen and decision-making skills.
The CIMA contact details are -
|
Chartered Institute of Management Accountants
26 Chapter Street, London SW1P 4NP
United Kingdom
T. +44 (0) 20 8849 2251, F. +44 (0)
20 8849 2250
Email: cima.contact@cimaglobal.com |
CIMA India
Unit 1-A-1, 3rd Floor, Vibgyor Towers,
C-62,
G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051, India.
Tel: +91 22423 70100, Fax: +91 22423
70109
Email:
india@cimaglobal.com |
►
Suitability
Conducting internal business audits,
assessing risk and preparing financial statements, management accounting. CIMA members
are successful business analysts, management consultants and project managers.
►
CIMA Exams
●
Exam Pattern
a.
You can only enter for the exams
through the CIMA website.
b.
There are 5 Levels of Exams
i.
Entry Level - Certificate In Business
Accounting 5 Papers
ii.
Operational Level 3 papers
iii.
Management Level 3 Papers
iv.
Strategic Level - 3 Papers
v.
Professional Competence Level
3yrs experience certificate & 1 Case Study Paper
c.
Operational & Management Level
exams can only be taken when you have completed the Certificate Level, by Computer
Based Assessment or by exemption. You can take the papers at Operational & Management
Level in any order and you can sit as many of the six papers at any one sitting
as you wish.
d.
When you have completed the management
level, you may enter for strategic level papers. You must take and submit for marking
all three strategic papers at your first sitting. If you do not pass all the papers
at your first attempt you will be credited with any passes that you are awarded,
and your remaining paper(s) can be re-taken together or individually at a subsequent
sitting. If you are
absent from one or more strategy papers at your first sitting due to illness or
other indisposition, you will need to provide an official document or certificate
(for example, from your doctor) to prove you were unable to sit the exam. This will
ensure you then receive credit for any papers that you pass
e.
You are eligible to enter for
T4-Part B Case Study when you have completed the strategic level.
f.
The pass mark for all papers is
50%.
g.
Exam Timing -
Certificate Level - Any time of the year.
All Other Levels Paper Based Exams May and November each year
Additional Computer Based Exams - Professional Competence Level March &
September
h.
Award
- Passing Operational Level
- CIMA Diploma
in Management Accounting
Passing Management Level -
CIMA Advanced Diploma
in Management Accounting.
●
Exemptions
If you have already studied a relevant degree or qualification, you may be entitled to some exemptions from CIMA exams under one of the routes listed below. (Exemptions are awarded only at CIMAs discretion. CIMA cannot grant exemptions until you are a registered student.)
1)
Accredited degree accelerated
route - You are a graduate with
a qualification listed on the database of CIMA accredited programmes.
Generally most of the B.Com
& M. Com courses of the leading universities are covered under the database. Check
the list through this link by searching for India. Keep the university name blank
for complete list of universities in India. (As on date 82 Universities are listed).
Exemption List Database
2)
Relevant degree accelerated
route - You are a graduate of
a degree programme that is not on the database, but is related to the CIMA
syllabus. Based on the degree certificate and course transcripts, the degree will
be assessed for the exemptions corresponding to the group in this link >
Exemptions not in Database.
If according to CIMA, the degree falls
into one of the groups, CIMA will contact you about any exemptions awarded to you.
3)
AAT accelerated route
- You are an Association of
Accounting Technicians (AAT) student or member.
4)
Open University accelerated
route
If Completed
the Open University Certificate in Accounting.
5)
CMGA accelerated route
- You have an MBA.
(CMGA Details are given below.)
6)
CPGA accelerated route
- You are a member or passed
finalist of ICWAI or you are a member of ICMAP. (CPGA
Details are given below.)
7)
Professional qualification
accelerated route If Pursuing
or is Professionally Qualified.
(For exemption of CA, CS &
ICWAI click here >
Exemptions for CA,
CWA Eligible for CPGA Route,
Exemptions for CS)
Note > If papers at Operational
and Managerial Level are exempt (Except CMGA & CPGA), then the exemption fees will
be charged for each subject exempt, which is the same as the exam fees.
Exam Contents at Each Level
►Entry
level: Certificate in Business Accounting
|
C01
Fundamentals of management accounting |
C02
Fundamentals of financial accounting |
C03
Fundamentals of business mathematics |
C04
Fundamentals of business economics |
C05
Fundamentals of ethics, corporate governance
and business law |
|
Cost Determination
Cost Behaviour and Break
Even Analysis
Standard Costing
Costing and Accounting
Systems
Financial Planning and
Control |
Conceptual and Regulatory
Framework
Accounting Systems
Control of Accounting
Systems
Preparation of Accounts
for Single Entities |
Business Mathematics
Probability
Summarising and Analysing
Data
Inter Relationship between
variables
Forecasting
Financial Mathematics
Spreadsheets |
Goals and Decisions of
Organisations
The Market System and
the competitive process
The Financial System
The Macro Economic Context
of Business |
Ethics and Business
Ethical Conflict
Corporate Governance
Comparison of English
Law with alternative legal systems
The Law of Contract
The Law of Employment
Company Administration
and Finance |
|
Computer Based Exams
Objective Type Questions |
||||
►Operational
Level
|
E1 Enterprise Operation |
% |
P1 Performance Operation |
% |
P3 Financial Operation |
% |
|
The Global Business
Environment |
20 |
Cost Accounting
Systems |
30 |
Principles of Business
Taxation |
60 |
|
Information Systems |
20 |
Forecasting and
Budgeting Techniques |
10 |
Regulation and
Ethics of Financial Reporting |
25 |
|
Operation Management |
20 |
Project Appraisal |
25 |
Financial Accounting
& Reporting |
15 |
|
Marketing |
20 |
Dealing with Uncertainty
in Analysis
|
15 |
|
|
|
Managing Human Capital |
20 |
Managing Short Tem Finance |
20 |
||
|
There will be a written examination paper of three hours, plus 20 minutes of pre-examination question paper reading time. The examination paper will have the following sections: Section A 20 marks - A variety of compulsory objective test questions, each worth between two & four marks. Mini scenarios may be given, to which a group of questions relate. Section B 30 marks - Six compulsory short answer questions, each worth five marks. A short scenario may be given, to which some or all questions relate.
Section C 50 marks - One or two compulsory
questions. Short scenarios may be given, to which questions relate. |
|||||
►Management
Level
|
E2 Enterprise Management |
% |
P2 Performance Management |
% |
P2 Financial Management |
% |
|
Strategic Management
& Assessing the Competitive Environment |
30 |
Pricing & Product
Decision |
30 |
Group Financial
Statements |
35 |
|
Project Management |
40 |
Cost Planning and
Analysis for Competitive Advantage |
30 |
Issues in Recognition
& Measurement |
20 |
|
Management of Relationships |
30 |
Budgeting and Management
Control |
20 |
Analysis & Interpretation
of Financial Accounts |
35 |
|
|
Control & Performance
Measurement of Responsibility Centres |
20 |
Developments in
External Reporting |
10 |
|
|
There will be a written examination paper of three hours, plus 20 minutes of pre-examination question paper reading time. The examination paper will have the following sections: Section A 50 marks - Five compulsory medium answer questions, each worth ten marks. Short scenarios may be given, to which some or all questions relate.
Section B 50 marks - One or two compulsory
questions. Short scenarios may be given, to which questions relate. |
|||||
►Strategic
Level
|
E3 Enterprise Strategy |
% |
P3 Performance Strategy |
% |
P3 Financial Strategy |
% |
|
Interacting with
the Competitive Environment |
20 |
Management Control
Systems |
10 |
Formulation of
Financial Strategy |
25 |
|
Change Management |
20 |
Risk & Internal
Control |
25 |
Financial Decisions |
30 |
|
Evaluation of Strategic
Options |
30 |
Review and Audit
of Control Systems |
15 |
Investment Decision
and Project Control |
45 |
|
Implementation
of Strategic Plans |
30 |
Management of Financial
Risk |
35 |
|
|
|
|
Risk & Control in Information Systems |
15 |
|||
|
There will be a written examination paper of three hours, plus 20 minutes of pre-examination question paper reading time. The examination paper will have the following sections: Section A 50 marks - Five compulsory medium answer questions, each worth ten marks. Short scenarios may be given, to which some or all questions relate.
Section B 50 marks - One or two compulsory
questions. Short scenarios may be given, to which questions relate. |
|||||
►Professional
Competence Level
|
●
Part A: work based
practical experience
Minimum of three years' relevant work
based practical experience before becoming chartered management accountants.
Experience may be drawn from any of the following three areas (but a minimum
of 18 months must be gained within the core area): |
||
|
Area 1 - Basic Experience |
Area 2 - Core Experience |
Area 3 - Supplementary Experience |
|
-
Preparing and maintaining
accounting records
-
Statutory and regulatory
reporting
-
IT desktop skills
-
Systems and procedure
development |
-
Preparation of management
accounts
-
Planning, budgeting and
forecasting
-
Management reporting for
decision making
-
Product and service costing
-
Information management
-
Project appraisal
-
Project management
-
Working capital content
-
Risk management and business
assurance |
-
Financial strategy
-
Corporate finance
-
Treasury management
-
Taxation
-
Business evaluation and
appraisal
-
Business strategy
-
External relationships |
|
●
Part B: case study
exam
1)
The exam is based on a
case study set in a simulated business context of one or more fictional
organisations. The context in the case material is based on a real business
or industry. The content is mainly from the three strategic level papers:
E3, P3 and F3. It will also draw on management and operational level content.
It has no specific syllabus content of its own.
2)
There is a written three-hour
exam, including 20 minutes' pre-exam reading time, with a limited number
of questions, which will usually be answered using a report, and/or presentation,
with further supporting documents to a variety of users.
3)
The questions will be
based upon:
i.
The Pre-seen case study
material, will be published online at least 6 weeks before exam
ii.
Further Un-seen material,
which will be given in the exam.
4)
You must score a minimum
of 25 credits (out of a possible 50) to pass T4 Part B: the case study exam. |
||
●
Exam Centres
Exam Centre List
In India > Ahmadabad, Bangalore, Cochin, Hyderabad,
Mumbai, Pune, Kolkata, New Delhi, Chennai.
●
Registration Procedure
If you have decided that CIMA is the route for
you to progress your career, follow this simple process to register as a student.
Checklist before Entry
a.
Check the Entry Route (Level /
CPGA / CMGA).
b.
If you are starting with the certificate
in business accounting, find your nearest computer based assessment centre.
c.
Find your nearest exam centre.
You must ensure that you can attend one of our exam centres before registering for
CIMA.
d.
Once you have registered as a
student online, apply for any exemptions you may be entitled to.
e.
You can register online here.
Online User Guide
►
Course Fees
|
Registered students (from 1 July 2010) |
GBP Amount |
Examination
Fees |
GBP Amount |
|
Registration Fees |
60 |
Entry level Certificate |
44 per subject |
|
Student (1st year subscription) |
Free |
Operational Level |
69 per subject |
|
Annual subscription |
90 |
Management Level |
69 per subject |
|
Re-registration (If required) |
60 |
Strategic Level |
74 per subject |
|
T4 Subscription Fees (for First 3 Years) |
194 |
T4 |
95 |
Example, if it takes you three years to complete
CIMA and you pass every exam on the first attempt, it will cost around 1,200. {60
+ (90*2) + (69*3) + 69*3) + (74*3) + 194 + 95}.
Some Relevant Points >
1. If Certificate Level is exempt, there in no need to pay fees for Certificate Level. Also, the certificate level fees is not paid to CIMA, but directly charged by the Computer assessment centre. (Exam Centre).
2. If papers at Operational and Managerial Level are exempt, then the exemption fees will be charged for each subject exempt, which is the same as the exam fees.
3. Re registration fees need to be paid, in case the registration is lapsed and you require to re register.
4. Fees for CPGA & CMGA are mentioned differently with the relevant course detail below.
►CPGA
Courses
CPGA & CMGA Sample Paper
CPGA stands for CIMA professional gateway assessment. It is the assessment that you can take in order to enter the CIMA professional qualification at the strategic level.
1.
Eligibility
- Fulfil one of these criteria:
-
ICWAI
(Institute of Cost and Works
Accountants of India) students and members.
-
ICMAP
(Institute of Cost and Management Accountants of Pakistan) members.
-
ICASL
(Institute of Chartered Accountants in Sri Lanka) members or passed finalists.
-
ICMAB
(The Institute of Cost and Management
Accountants of Bangladesh) members and passed finalists
2.
Registration Deadlines
- You can register as a CIMA student at any time. However, there are two CPGA exams
sittings, in May and November. Please note the following registration deadlines:
To sit the CPGA exam in November
2010 you must register as a student by 31 July 2010.
To sit the CPGA exam in May 2011
you must register as a student by 25 February 2011.
3.
Exam Syllabus
- The CPGA syllabus covers material from the Management level papers. The three
hour paper (plus 20 minutes' reading time) has the following structure and syllabus
content:
Section A -
three compulsory questions each worth 25 marks.
-
P2 syllabus area B - cost planning
and analysis for competitive advantage
-
E2 syllabus area B - project management
-
F2 syllabus area A - group financial
statements
Section B -
A series of objective test questions totalling 25 marks, from all other areas of
the P2, E2 and F2 syllabi not covered in section A.
4.
Pass mark
- 50 marks.
5.
Award -
On passing the CPGA, you will gain 11 exemptions from the CIMA professional qualification,
and you will be awarded the CIMA advanced diploma in management accounting.
6.
Exam Fees -
Each exam sitting costs 40. Students
will not be required to pay exemption fees for the 11 exempted papers. The student
registration fee and annual subscription fee are the same as for all students.
►CMGA
Courses
CMGA stands for CIMA Management gateway assessment.
Candidates
will be required to pass just one exam to achieve a prestigious qualification, the
CIMA Advanced Diploma in Management Accounting, entitling them to the professional
letters CIMA Ad Dip MA. They can then progress to the final level of CIMA professional
exams and (once they have passed, and professional experience requirements have
been met) they become full members of the professional institute.
1.
Eligibility
Criteria are for
Existing CIMA students:
if you have not failed any CIMA exams you will be eligible for the CMGA route. Please
note if you decide to take the CMGA route you may not then go back to the standard
entry route. Students must hold an MBA from a legitimate institution.
New CIMA students:
you must hold an MBA from a legitimate institution.
2.
Registration Deadlines
- You can register as a CIMA student at any time. However, there are two CMGA exams
sittings, in May and November. Please note the following registration deadlines:
To sit the CMGA exam in November
2010 you must register as a student by 31 July 2010.
To sit the CMGA exam in May 2011
you must register as a student by 31 January 2011.
3.
Exam Syllabus
- The CMGA syllabus covers material from the Management level papers. The three
hour paper has the following structure and syllabus content:
Section A -
three compulsory questions each worth 25 marks.
P2 syllabus area B - cost planning
and analysis for competitive advantage
E2 syllabus area B - project management
F2 syllabus area A - group financial
statements
Section B -
A series of objective test questions totalling 25 marks, from all other areas of
the P2, E2 and F2 syllabi not covered in section A.
4.
Pass mark
- 50 marks.
5.
Award -
On passing the CMGA, you will gain 11 exemptions from the CIMA professional qualification,
and you will be awarded the CIMA advanced diploma in management accounting.
6.
Exam Fees
CMGA exam sitting costs 500. This package
includes: registration with CIMA, first year subscription fees, one attempt at the
CMGA exam and three CIMAstudy.com online study modules (E2, P2 and F2).
▼
CMA (US) CMA (UK) at a Glance
in the comparative and tabular format.
|
Topic Area |
CMA (Chartered Management
Accountant) (US) |
CIMA Certified Management
Accountant (UK) |
|
Website |
||
|
Institute Base |
Montvale, New Jersey
07645USA |
London SW1P 4NP, United
Kingdom
|
|
Eligibility |
Graduate or professional
Education along with experience *anytime during or after exams) |
Undergraduate, graduate,
postgraduate, professional determines the entry level. |
|
Career Suitability |
Accounting and financial
management skills, risk analysis, internal controls, financial decision
making |
Internal business audits,
assessing risk and preparing financial statements, management accounting |
|
Exam Pattern |
2 Exams (Any order) |
5 Levels (Depends upon
Entry Level) >
Certificate Level
5 exams
Professional Level
10 Exams & Experience |
|
Exam Centres |
All over the World
(Including India) |
All over the World
(Including India) |
|
Exam Style |
Computer Based Exams |
Certificate Level -
Computer Based Exams
Professional Level
Written Exams |
|
Exam Timings |
Three Testing Windows
(2 months each) in a year |
May and November each
year. |
|
Course Cost |
Approx. $900 |
Approx GBP 1200 (Considering
the 3 years time and passing exams in 1st Attempt) |
|
Course Duration |
Approx Minimum 6Months
(Subject to the experience requirement fulfilment) (Short Term) |
Approx Minimum 1-2
years (Depends upon the entry level and exemptions) (Long Term) |
|
Stopping Points Benefits |
No Benefits |
Passing
Operational Level
- CIMA Diploma in Management Accounting
Passing
Management Level - CIMA Advanced Diploma in Management Accounting. |
Disclaimer >
The contents mentioned above are compiled through
the information available on the respective Internet sites. Please highlight any
points, which you would like to add as a part of your experience for the benefit
of the course aspirants. Also, In respect of any mistakes for anything, please highlight
it and I hereby regret for that.
Feedback >
Again, looking forward to your feedback, suggestions, improvements, inclusions,
deletions or any sort of information which you think has been wrongly interpreted
or can be added up and can provide more clearance in understanding the structure
of the above courses.
Compiled by CA
Rahul Gupta
rahulgupta45@gmail.com
05/07/2010
CAclubindia
