How do I become a Certified Management Accountant?

Accounting professionals are in high demand as this highly skilled profession is required in almost every organisation around the world. There are a wide variety of accounting certifications to choose from which can help you get an edge in the competitive field of accounting, and many employers will even help cover the cost of the certifications.

There are a lot of management accounting certifications that can help you to stay a step ahead of the competition in this ever-challenging and demanding field, such as the CGMA, AAT or ACCA, but it is the certified management accountant (CMA) which gives you the edge in corporate financial accounting and strategic management.

Learn more below about the CMA and other certificates, and if you have any questions or would like to begin your application, arrange a free consultation with SI-UK London today.

Management Accounting Certification Overview

Accounting certifications for managers and executives are essential because of the gravity and relevance they hold, as well as the lucrative job opportunities which are available. A certified management accountant carries an enormous amount of esteem.

What is a Management Accounting Certification?

This certification is awarded to finance professionals who take care of the end to end financial needs of a firm. These people are the stakeholders in decision-making based on the nitty-gritties of the field they learn during the accounting certifications they qualify. They acquire skills which allow them to manage roles administering business growth in a sustainable fashion.

Qualifications to be a Certified Management Accounting

Certified Management Accounting certification is a key skill, providing a focus on financial planning, analysis, risk assessment and other crucial areas. Qualifications required to be an accountant include:

• A bachelor's degree from a reputed college, showcasing your understanding of subjects like finance
• A minimum two years of work experience in any firm in an equivalent role

If you satisfy the above requirements then you can sit the certified management accountant certification exam, which takes place in two parts.

Core Evaluation Subjects in CMA

During the CMA examination the examinees are evaluated on the following subjects:

Part 1

• External Financial Reporting Decisions
• Planning, Budgeting and Forecasting
• Performance Management
• Cost Management
• Internal Controls

Part 2

• Financial Statement Analysis
• Corporate Finance
• Decision Analysis
• Risk Management
• Investment Decisions
• Professional Ethics

Job Opportunities for CMA Professionals

CMA professionals can apply for managerial positions at accounting and finance firms, such as:

• Management and Cost Accountant
• Financial Accountant
• Financial Risk Manager
• Management Consulting & Performance Management

Other Accounting Certifications

Aside from CMA, there are alternative accounting certifications also available, such as the ACCA and AAT. The AAT qualification is the first step to get into this field, whereas ACCA qualifications help you with a more rigorous and rewarding career due to its technical relevance.

The AAT qualification can help you skip a year of ACCA, allowing you to climb the ladder quicker. The AAT is the technical and foundational aspect of financial accounting, whereas ACCA is the advanced level qualification of accounting for managers and other professionals.

Alternatively, the Chartered Global Management Accountant (CGMA)  is a relatively newer examination model that is gaining popularity amongst finance experts.

Study Accounting in the UK

If you have been thinking of taking the management accounting certification exam and becoming a qualified professional, contact SI-UK London today for a free consultation about your future and we can help you study in the UK.