FAQ’s
General FAQs
CMA prerequisites
CMA Fundamentals Program
CMA Accelerated Program
CMA Entrance Exam
Strategic Leadership Program
General
FAQs
What differentiates CMA from other accounting designations?
A Certified Management Accountant (CMA) is an integral part of any management team, focusing on business
strategy and strategic decision-making. A CMA understands the business formula for delivering value to an
organization and its customers. CMAs assess the competitive environment and determine if there is a
sustainable competitive advantage. As the only professional accounting designation that focuses on strategy,
management and accounting, CMAs develop a holistic skill set, enabling CMAs to see the big picture and
provide solutions that deliver a powerful advantage.
Unlike other designations that emphasize 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 in industry and government.
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.
While an MBA degree is an academic degree that is earned after a specific level of work experience and
career progression is achieved, a CMA designation demonstrates an individual’s mastery and ongoing competence
in a particular profession. Additionally, professionals who obtain their CMA designation must abide by CMA
Canada’s rules of professional conduct and must meet continuous professional learning and development
requirements to enhance their career progression and knowledge.
How will a CMA designation change my life?
CMAs are in demand. With a powerful combination of left- and right-brain thinking grounded in strategic
management accounting skills and ethical behaviour, there’s no question why more organizations are choosing
CMAs to lead their business. In fact, a national 2007 study conducted by EKOS Research Associates Inc. showed
that CMAs continue to be the leading employer preference for hiring mid- and senior-level financial
management professionals.
As a CMA, your career potential is unlimited. With a CMA designation, you will have freedom and
flexibility to choose:
- the employer you work for
- the industry you work in
- the career path you desire
- where you live and work
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 required to write the CMA National Entrance Exam.
Becoming a CMA associate is the first step in becoming a CMA. An associate membership is free and allows
aspiring CMAs to learn more about the CMA designation and network with CMA and business professionals in the
strategic management accounting profession. As an associate, you will:
- receive an invitation for prestigious CMA events such as the CMA Advantage Dinner and Corporate Career
Connections;
- have access to the CMA Job Bank, where employers post student job opportunities;
- communication from CMA Alberta regarding upcoming events;
- free transcript evaluations; and
- receive guidance from CMA Alberta about which CMA path best suits your needs.
You must be a CMA associate before you can have your transcripts reviewed by CMA Alberta.
What is a CMA candidate?
A CMA candidate is someone who wrote and successfully passed the CMA National Entrance Exam or someone who graduated from an accredited post-secondary institution and is working towards obtaining
their CMA designation through one of four CMA professional
programs. Candidates are also responsible for paying candidate dues once they enrol in a CMA professional
program.
What types of positions do CMAs hold?
CMAs are active in a variety of business 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 who are more advanced in their career often are found in
senior-level leadership roles such as managers, controllers and manager consultant roles. You’ll also find
that CMAs often hold C-suite roles such as CFO, CEO, COO, Vice-President and President.
In Alberta, 75 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.
Employers see CMAs as leaders and team players who provide a unique and effective management style. CMAs have
a holistic skill set that creates strategic, forward-thinking solutions from numbers, ultimately propelling
their organization ahead in the marketplace.
How do I become a CMA?
There are four steps to becoming a CMA:
1) Become a CMA associate and have your transcripts
evaluated
2) Obtain the prerequisites required to write the CMA National Entrance Exam
3) Write and successfully pass the CMA National Entrance
Exam
4) Complete one of four CMA professional programs
For detailed information about your path to the CMA designation, visit the become a CMA section.
How long will it take me to become a CMA?
Depending on which professional program you enrol in, it
will take one to two years to complete a CMA professional program. Most candidates who successfully pass the
CMA Entrance Exam typically enter into 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
influence of a global marketplace, CMA Canada has members working in close to 100 international locations.
From Antigua to Zambia, CMAs are represented in every corner of
the globe.
What kind of salaries do CMAs make?
The salary of a CMA depends on work experience and educational background; however, a recent salary survey conducted by CMA Alberta found that the average
salary CMAs made in Alberta in 2008 was $137,500. The average salary that CMA candidates made in Alberta in
2008 was $77,400.
Where can I find out more information about the designation and its professional
programs?
Detailed information about becoming a CMA and CMA’s professional programs can be found on the become
a CMA section. Aspiring CMAs may also call the CMA Alberta office at 403.269.5341 or toll-free
1.877.CMA.2000 to speak to a CMA Alberta staff member.
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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. A program focusing on sound business education that covers technical accounting and management
studies is recommended, but any recognized degree or applied degree will meet the degree requirement. The
courses you took to satisfy your degree requirement will then work towards fulfilling the CMA prerequisite requirements. If you are unsure if your
degree will be accepted, please contact the CMA Alberta
office.
What are the prerequisites required to write the CMA Entrance Exam?
Students must have a degree or applied degree from a recognized
post-secondary institution. In addition, students must successfully complete each of the 16
prerequisite courses with a minimum grade of 60 per cent in each course. 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 the 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 an overall
GPA of at least 75 per cent and a minimum grade of 60 per cent in each of the 16 CMA prerequisite courses, you are exempt from writing the
CMA Entrance Exam and are eligible to enter directly into
the two-year Strategic Leadership Program. You must have
your transcripts evaluated by CMA Alberta to ensure you
qualify for exemption.
What if I obtained my education outside of Canada?
If you obtained an international post-secondary degree, you will need to 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 or we require more information about any of the courses, you may need to use the
International Qualifications Assessment Service (IQAS).
How much will it cost to get my transcripts evaluated by CMA Alberta?
There is no cost to have your transcripts evaluated. 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 two online courses
that provide comprehensive coverage of the Introductory Financial Accounting and Management Accounting
prerequisites required for the CMA Accelerated Program.
How long do I have to complete each online course?
Students will have six months from the date of registration to complete each course.
Is there any kind of classroom component to the program?
No. All courses and studies are completed online at your own pace.
What is the cost of the CMA Fundamentals Program?
Current 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 is an intensive, 22-week
program that offers a fast-track option for degree holders missing the necessary prerequisites to write the CMA Entrance Exam. The program is offered twice a year: in fall, leading to the June Entrance
Exam, and in winter, leading to the October Entrance Exam. The program covers 12 of the 16 prerequisite
courses in a faster timeframe than it would take to complete each course at a post-secondary institution.
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; and
- 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, Calgary and Fort McMurray 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.
There are two intakes offered each year: fall and winter.
*Fort McMurray classes are available for the fall intake only, pending sufficient registration.
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?
Current 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 but is not
mandatory. Online streaming video is available to complement class lectures and can be used to catch up if
you need to 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 that aspiring CMAs have the
required competency in technical accounting and can demonstrate a thorough understanding of strategy and
management. Upon successful completion of the Entrance Exam, candidates proceed into one of CMA's
professional programs: CMA Strategic Leadership Program, CMA for MBA Program or CMA/MBA Combined Program.
What are the prerequisites for the CMA Entrance Exam?
Students who want to write the Entrance Exam must have a
degree or applied degree from a recognized post-secondary
institution. In addition, 16 prerequisite courses must be completed to be eligible for
the CMA Entrance Exam. A minimum grade of 60 per cent must be achieved in each prerequisite course. 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
have met 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 successful completion of 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, it is not mandatory to enter into a professional program immediately. Successful exam
writers may take up to two years after successfully writing the Entrance Exam to enter into a professional
program.
Where can I find resources that will help me successfully pass the Entrance Exam?
As part of the Entrance Exam fee, students writing the exam
are automatically enrolled in the CMA Entrance Exam Preparation
Program, which will give you a thorough review of the concepts covered on the exam.
Additional preparation materials are available to help students prepare for the exam. 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?
The length of study time required is subjective and is 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 first date of the Entrance Exam Preparation
Program.
Can I challenge the Entrance Exam without meeting all the prerequisite
requirements?
No, all students who write the CMA Entrance Exam must meet
all of the prerequisite requirements before they are
eligible to write the exam.
What is the Entrance Exam Preparation Program?
All students who register for the Entrance Exam
will be able to enrol in the CMA Entrance Exam Preparation
Program. The program focuses on teaching multiple choice exam writing strategies and techniques that will
help students succeed on the exam.
The program includes:
- a seminar on the format of the CMA Entrance Exam, creating a study plan and multiple choice examination
strategies;
- five technical review seminars covering the major topics as described in the CMA Entrance Examination
syllabus;
- two simulated Entrance Examinations;
- practice multiple choice questions for self-study; and
- a CMA Entrance Examination study manual, which includes technical review notes plus problems and
solutions.
This program is not designed to be a thorough review of the exam concepts. CMA Alberta suggests that
students start studying approximately four months prior to the exam date to ensure they have a strong
foundational knowledge of the exam topics.
For more information about the program, please visit the CMA
Preparation Program page.
Is the Entrance Exam Preparation Program mandatory?
The Entrance Exam Preparation 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, but attendance is not
mandatory.
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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 is the hallmark of the CMA designation that 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. Through its focus on business processes, the program equips candidates
with the strategic management capabilities demanded by today’s leading enterprises and integrates six functional competencies and four enabling competencies.
At the heart of the two-year Strategic Leadership Program are six interactive sessions. Here, candidates
exchange views and experiences about program concepts under the guidance of experienced moderators. Each
session is two-days long and is designed to mirror teamwork situations that professionals face in the
workplace.
Six modules will be completed throughout the program. Modules 1–3 are completed during the first year and
modules 4–6 are completed during the second year.
For more details about the program, visit the Strategic
Leadership Program page.
What are the prerequisites required to enrol in the Strategic Leadership Program?
To be eligible for the CMA 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
successfully 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 they’re enrolled in the Strategic Leadership Program. The practical
experience component is imperative because candidates must be able to apply management principles and
accounting knowledge in a practical setting. Candidates must be able to apply the acquired knowledge and
skills from the CMA Competency Map at an overall Career
Stage 2 (CS-2) upon completing the Strategic Leadership
Program.
For CMA Alberta to determine a Career Stage level, candidates will be required to submit three written practical experience reports throughout the program indicating
their career progression and examples of how they’ve applied the program concepts in their daily roles.
Can I start the Strategic Leadership Program if I am unemployed?
CMA Alberta may use discretion to 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 are the evaluation points of the Strategic Leadership Program?
To successfully complete the Strategic Leadership Program,
candidates must:
- receive a “grade” of Meets Expectations (ME) for all interactive sessions and pre- and post-session
assignments for each module;
- pass the CMA Case Exam at the end of year one with a minimum grade of 60 per cent; and
- achieve a team-based score of at least 60 per cent on the written and presentation components of the
Board Report at the end of year two.
How do I know if my current job meets the practical experience requirements?
Candidates entering into the program should review the practical experience report example on the CMA Alberta website. Practical experience is
evaluated based on the functional and enabling competencies outlined in the CMA Competency Map set by CMA Canada.
For more information about practical experience requirements, please contact the CMA Alberta office.
What is the cost of the Strategic Leadership Program?
Current costs of the program 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 sessions 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 has three modules that must be completed and runs from October until 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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