FAQs

General FAQs

What differentiates CMA from other accounting designations?
As the only professional accounting designation that focuses on strategy, management and accounting, graduates of the CMA Strategic Leadership Program develop a holistic skill set, enabling them to see the big picture and provide solutions that deliver a powerful advantage.

Instead of focusing only on financial reporting, auditing, theoretical applications, and after-the-fact verification, the CMA designation uses both financial and non-financial information to direct strategic decision-making.

What is the difference between a CMA designation and an MBA degree?
A Masters in Business Administration (MBA) is a general management degree. The CMA designation is different from an MBA because it provides a sound strategic financial management foundation and focuses more on the financial aspects of business decision-making.

CMAs must abide by CMA Canada’s rules of professional conduct and meet continuous professional learning and development requirements.

What is a CMA associate?
A CMA associate is someone who has expressed interest in the CMA designation and is working towards obtaining the prerequisites to write the CMA Entrance Exam.

Becoming a CMA associate is the first step in becoming a CMA. An associate membership is free.

What is a CMA candidate?
A CMA candidate is someone who passed the CMA Entrance Exam or graduated from an accredited post-secondary institution and is working towards obtaining their CMA designation.

What types of positions do CMAs hold?
CMAs work in a variety of roles in virtually every type of industry. Recent graduates of a CMA professional program are usually hired as financial analysts, business analysts and accountants. 

CMAs later in their career are often in senior-level leadership roles such as managers, controllers and consultants. CMAs also often hold C-suite roles such as CFO, CEO, COO, Vice-President and President. In Alberta, 72 per cent of CMAs hold executive, senior or middle-management positions.

What do employers expect of management accounting professionals?
Employers expect CMAs to possess advanced financial and strategic management competencies to provide leadership, innovation and an integrated perspective to organizational decision-making in a global marketplace.

How do I become a CMA?
1) Become a CMA associate and have your transcripts evaluated
2) Obtain the prerequisites to write the CMA Entrance Exam
3) Pass the CMA Entrance Exam
4) Complete a CMA professional program

For more information about your path to the CMA designation, visit become a CMA

How long will it take me to become a CMA?
Depending on which professional program you enrol in, it can take one to two years. Most candidates enter the Strategic Leadership Program, which takes two years to complete.

Can I work anywhere in the world with a CMA designation?
Yes. A CMA designation is internationally-recognized and is your ticket to a career anywhere in the world. Through mutual recognition agreements and the growing global marketplace, CMA Canada has members working in close to 100 international locations.

What kind of salaries do CMAs make?
The salary of a CMA depends on work experience and educational background. A CMA Alberta salary survey found the average salary of a CMA in Alberta in 2010 was $141,400. The average salary of a CMA candidate in Alberta in was $78,100.

Where can I find out more information about the designation and its professional programs?
Here or call the CMA Alberta office at 403.269.5341 or toll-free 1.877.CMA.2000.

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Prerequisite FAQs

Is a post-secondary degree required to obtain the CMA designation?
Yes. Graduation from a recognized post-secondary institution is required to qualify for the CMA Entrance Exam. If you are unsure if your degree will be accepted, please contact the CMA Alberta office.

What are the CMA Entrance Exam prerequisites?
Students must have a degree or applied degree from a recognized post-secondary institution. In addition, 16 prerequisite courses with a minimum grade of 60 per cent in each course must be completed. For a list of the CMA prerequisites, view the course matrix.

What is an accredited program?
The accreditation process recognizes universities that achieve high standards of instruction in management accounting. Consequently, graduates from a CMA Canada Accredited University Program who satisfy accredited program requirements are exempt from writing the CMA Entrance Examination.

What if I graduated from an accredited program?
If you graduated from an accredited program with a minimum overall grade point average of 3.0 on a 4.0 scale, and a minimum of 60 per cent in each of the 16 CMA prerequisite courses, you are exempt from writing the CMA Entrance Exam and can enter directly into the Strategic Leadership Program.

What if I obtained my education outside of Canada?
If you obtained an international post-secondary degree, you must submit a certified English translation of your university transcripts to CMA Alberta for evaluation, along with a completed CMA associate application form. If we are unable to evaluate your transcripts, you may need to use the International Qualifications Assessment Service (IQAS).

How much will it cost to get my transcripts evaluated by CMA Alberta? 
Transcript evaluations are a free service offered by CMA Alberta for CMA associates.

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CMA Fundamentals Program FAQs

What is the CMA Fundamentals Program?
The CMA Fundamentals Program consists of online courses that provide comprehensive coverage of four prerequisites required for the CMA Accelerated Program.

How long do I have to complete each online course?
Students have six months from the date of registration to complete each course.

Is there a classroom component to the program?
No. All courses and studies are completed online.

What is the cost of the CMA Fundamentals Program?
Costs are posted on the CMA Fundamentals Program page.

Are these courses recognized at post-secondary institutions?
No. Each course is designed specifically to meet the requirements for the CMA Accelerated Program and are not transferable to post-secondary institutions.

Can this program be claimed on my taxes?
Yes. A T2202A tax receipt will be issued in February for those enrolled in the CMA Fundamentals Program.

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Accelerated Program FAQs
 

What is the CMA Accelerated Program?
The CMA Accelerated Program (AP) is an intensive 22-week program that allows you to get the prerequisites to write the CMA Entrance Exam in less time than it would take to finish the courses at a post-secondary institute.

The program is offered twice a year: in fall, leading to the June Entrance Exam, and in winter, leading to the October Entrance Exam.

What are the prerequisites for the CMA Accelerated Program?
To be eligible for the CMA Accelerated Program, students must have:
• a degree or applied degree from a recognized post-secondary institution
• a minimum of 60 per cent in four prerequisite courses: Introductory Management Accounting, Introductory Financial Accounting, Economics and Statistics

How long will it take me to complete the CMA Accelerated Program?
The CMA Accelerated Program will take 22 weeks, or approximately seven months, to complete.

Where and when are the Accelerated Program classes being held?
Classes are held in Edmonton and Calgary every Saturday from 9 a.m. to 4 p.m. Online video lectures are available to students who wish to complete the program via the distance learning option.

Can this program be claimed on my taxes?
Yes. A T2202A receipt will be issued in February for those enrolled in the CMA Accelerated Program.

Are these courses recognized at post-secondary institutions?
No. The CMA Accelerated Program is designed specifically to meet the course requirements for the CMA Entrance Exam. Courses are not transferable to post-secondary institutions.

What is the cost of the CMA Accelerated Program?
Costs for the program are posted on the CMA Accelerated Program page.

Is in-class attendance mandatory?
In-class attendance is strongly recommended because of the fast-paced nature of the program. Online streaming video is available to complement class lectures and can be used to catch up if you must miss a class.

What is the schedule for the Accelerated Program?
Visit the Accelerated Program page to view the schedules for the upcoming year.

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CMA Entrance Exam FAQs

What is the CMA Entrance Exam? 
The CMA Entrance Exam tests for competency in technical accounting and a thorough understanding of strategy and management. Successful Entrance Exam writers proceed into a CMA professional program: Strategic Leadership Program, CMA for MBA Program or CMA/MBA Combined Program.

What are the prerequisites for the CMA Entrance Exam?
Entrance Exam writers must have a degree or applied degree from a recognized post-secondary institution. In addition, 16 prerequisite courses must be completed to minimum grade of 60 per cent in each. Students may also complete the prerequisites through the CMA Accelerated Program.

When can I write the Entrance Exam?
You are eligible to write the CMA Entrance Exam once you meet the CMA prerequisite requirements and had your transcripts evaluated by CMA Alberta.

The Entrance Exam is held twice each year: in October and June.

Upon passing the Entrance Exam, do I have to start the Strategic Leadership Program immediately?
Successful Entrance Exam writers usually apply and enrol in a CMA professional program as soon as they get their results. However, successful exam writers may take up to two years after passing the Entrance Exam to enter into a professional program.

Where can I find resources to help me pass the Entrance Exam?
As part of the Entrance Exam fee, writers are automatically enrolled in the CMA Entrance Exam Preparation Program, which reviews exam concepts.

Upon registering for the Entrance Exam, students will receive comprehensive practice questions and solutions. As well, students can access past exams, sample exams and the Entrance Exam syllabus on the CMA Alberta website.

When should I start studying for the exam?
Study time required is subjective and up to each individual student to decide. However, based on student feedback, students should begin to study for the exam approximately 3 – 4 months prior to the start of the Entrance Exam Preparation Program.

Can I challenge the Entrance Exam without meeting all the prerequisite requirements?
No. Students who write the CMA Entrance Exam must meet all of the prerequisite requirements.

What is the Entrance Exam Preparation Program?
The Entrance Exam Preparation Program focuses on teaching multiple choice exam writing strategies and techniques to help students succeed on the exam.

For more information about the program, please visit the CMA Preparation Program page.

Is the Entrance Exam Preparation Program mandatory?
The program is included in the cost of the Entrance Exam. Students are strongly encouraged to attend the preparation classes to help them successfully pass the exam.

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Strategic Leadership Program FAQs

What is the Strategic Leadership Program?
Most candidates pursuing the CMA designation will proceed through the two-year, part-time CMA Strategic Leadership Program concurrent with full-time employment. 

The Strategic Leadership Program teaches candidates the practical theory needed to succeed in the strategic management accounting profession and how to apply the theory to their daily job activities. Focusing on business processes, the program equips candidates with the strategic management capabilities demanded by today’s leading enterprises.

For more details about the program, visit the Strategic Leadership Program page.

What are the Strategic Leadership Program prerequisites?
Strategic Leadership Program candidates must have a degree from a recognized post-secondary institution, must meet the CMA prerequisite requirements and must have passed the CMA Entrance Exam. In addition, candidates should be employed in a relevant position in the strategic management accounting profession.

How long does it take to complete the Strategic Leadership Program?
The Strategic Leadership Program typically takes two years to complete. However, candidates may take up to five years to complete the program and the practical experience component starting from the date they passed the Entrance Exam.

Is there a practical experience requirement for the Strategic Leadership Program?
Yes. Candidates are required to complete a minimum of 24 months of practical experience while enrolled in the Strategic Leadership Program. This allows candidates to apply management principles and accounting knowledge in a practical setting.

Can I start the Strategic Leadership Program if I am unemployed?
CMA Alberta may grant conditional entry for candidates who are not employed in a relevant position upon entering the program. If applicable, CMA Alberta will outline additional steps, timelines and communication standards that will be required should a candidate be conditionally accepted into the program while they are unemployed.

Is attendance mandatory at the interactive sessions?
Yes. Attendance at all interactive sessions is mandatory as candidates are evaluated on participation for each session.

What is the cost of the Strategic Leadership Program?
Program costs are posted on the Strategic Leadership Program page.

What is a typical schedule for the Strategic Leadership Program?
Year one of the Strategic Leadership Program has two intakes: fall and winter. Both begin with an orientation session and have three modules that must be completed. At the end of year one, candidates will write the CMA Case Exam in May.

Year two consists of three modules and runs October to March. At the end of year two, all candidates must complete and present the CMA Board Report in June.

For detailed information and dates, view the Strategic Leadership Program schedules page.

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