Introduction
The Certified Management Accountant (CMA) certification is considered one of the most powerful accounting and finance certifications worldwide. It is awarded by the Institute of Management Accountants (IMA).
For nearly 50 years, this certification has supported accountants and financial managers in developing their professional performance and enhancing their ability to make critical strategic decisions.
A Certified Management Accountant is regarded as a distinguished financial expert with extensive experience and high qualifications that enable them to hold key positions in accounting. These professionals have the ability to accurately organize and summarize financial data, which enhances their efficiency in managing corporate financial affairs effectively.
Certification Body
The certification is awarded by the Institute of Management Accountants (IMA), an international organization established in 1919 with the goal of advancing the accounting and finance profession. It offers professional certifications such as CMA and FMAA, provides educational resources, research, and global networking opportunities for members, and serves as a reference for developing accounting standards and ethical practices.
The Managerial and Financial Training Center is an authorized center by the U.S. IMA. It is one of the leading institutions in delivering training programs and professional certifications in accounting, finance, banking, risk management, and other specialties since 2004.
Benefits of Obtaining the Certification
- Opens doors to positions such as Financial Manager, Accounting Manager, Cost Accountant, and Financial Analyst.
- A globally recognized certification respected by employers worldwide, enhancing professional standing.
- Develops accounting and financial skills while improving English financial terminology.
- Increases job opportunities, as CMA holders are highly preferred by international companies.
- Provides a competitive advantage in the job market, often leading to higher salaries compared to peers.
- Grants membership in the Institute of Management Accountants (IMA), one of the largest accounting associations globally, offering valuable resources and networking opportunities.
- Enhances knowledge of the latest trends in accounting and financial management, keeping professionals aligned with market needs.
- Provides access to advanced training programs and workshops to improve skills and expand knowledge.
- Strengthens employers’ confidence in your ability to deliver accurate financial analysis and sound strategic decisions.
- Enables networking with other professionals in the field to exchange knowledge and experience.
Certification Requirements
- Enrollment in the IMA membership.
- A bachelor’s degree from an accredited college or university.
- Two years of professional experience in management accounting or financial management.
- Registration in the CMA program.
- Completion and passing of both exam parts.
Exam Structure
The CMA certification consists of two parts:
- Part One – Financial Planning, Performance, and Analytics
- Part Two – Strategic Financial Management
Part One Topics
- External Financial Reporting Decisions – 15%
- Planning, Budgeting, and Forecasting – 20%
- Performance Management – 20%
- Cost Management – 15%
- Internal Controls – 15%
- Technology and Analytics – 15%
Exam Details
CMA exams are conducted in Saudi Arabia and worldwide through authorized Prometric testing centers. Candidates can choose exam dates within the testing windows: January/February, May/June, and September/October.
The exam is delivered in English and consists of two parts, each lasting 4 hours with 100 multiple-choice questions and competency-based questions (CBQs). Candidates have 3 hours for multiple-choice questions and 1 hour for CBQs. If you finish early, the remaining time is transferred to the CBQ section.
You may take either part of the CMA exam in any order, allowing you to choose a plan that best fits your experience or preference, preferably starting with the easier part to build momentum.
Multiple-Choice Question Types
- Direct questions
- Negative questions
- Questions with two or three answer options
- Questions with multiple variables
CBQ (Competency-Based Questions) Format
- Real-life scenarios
- Short case studies
- Data and report analysis
- Selecting the best managerial or financial decision
- Integrating multiple concepts in one question
Exam Windows
January / February
- Exam period: Jan 1 – Feb 28
- Registration deadline: Feb 15
May / June
- Exam period: May 1 – Jun 30
- Registration deadline: Jun 15
September / October
- Exam period: Sep 1 – Oct 31
- Registration deadline: Oct 15
Fees
Professionals:
Membership $295 – Exam entrance fee $300 – Exam fee (both parts) $1,090 → Total $1,685
Academics:
Membership $160 – Exam entrance fee $225 – Exam fee $814 → Total $1,199
Students:
Membership $49 – Exam entrance fee $225 – Exam fee $814 → Total $1,088
- One-time application processing fee: $15 (professionals & academics)
- If a part is not passed, the exam fee must be paid again for a new window
- Fees are subject to change by IMA
Recognition and Support in Saudi Arabia
The certification is supported by the Human Resources Development Fund (HADAF), allowing Saudi candidates to recover training and exam costs after successfully passing all parts, up to SAR 13,600. It has been officially recognized since February 2021.
It is also recognized by the Saudi Organization for Chartered and Professional Accountants (SOCPA) as one of the requirements for professional registration.
Key Study References
Common CMA study materials include: HOCK – GLEIM – WILEY – PRC – SURGENT – BECKER
- GLEIM is recommended for instructor-led study
- HOCK is recommended for self-study
- Other references can be chosen based on personal preference
Advantages of Training with the Managerial and Financial Training Center
- Bilingual instruction (English & Arabic), while exam content is in English
- Professional instructors with extensive experience and certification
- Study summaries, books, references, and practice questions
- Official Gleim e-book and online access code with question bank
- Full study plan, continuous follow-up, and mock exams
- Training on exam strategies and question-solving techniques
- Direct interaction between instructor and trainees
- Dedicated WhatsApp group for communication and file sharing
- Full technical support and assistance from IMA resources
Target Audience
- Accounting and finance professionals
- Financial analysts and cost accountants
- Financial managers and accounting managers
- Business managers and CEOs
- Chief Financial Officers (CFOs)
- Controllers and treasury staff
- Accounting and auditing office staff
- Accounting and finance students and graduates