CMA Work Experience Requirement
CMA Work Experience Requirement: What You Need to Know to Become a Certified Management Accountant
One key requirement for earning the Certified Management Accountant (CMA) designation is fulfilling the CMA work experience requirement. The Institute of Management Accountants (IMA), which awards the CMA US certification, mandates that candidates demonstrate two years of relevant work experience in management accounting or financial management.
This guide will explain the CMA US work experience requirement, including what counts as relevant experience, how to gain it, and how to submit proof to the IMA once you’ve completed your work experience.
Overview of the CMA Work Experience Requirement
To become a Certified Management Accountant (CMA), candidates must complete at least two continuous years of full-time work experience in a role related to management accounting or financial management. Part-time work is also accepted but must be equivalent to the full-time requirement.
Key Points:
- Full-Time Requirement: Two years of relevant work experience in management accounting or financial management.
- Part-Time Work: You must accumulate four years of part-time experience to meet the requirement.
- Time Limit: You must complete the work experience requirement within seven years of passing the CMA exam.
The IMA requires candidates to submit proof of their work experience after passing both parts of the CMA US exam.
What Counts as Relevant CMA Work Experience?
To fulfill the CMA work experience requirement, your role must involve duties related to management accounting or financial management. These areas include responsibilities where you’re involved in financial planning, analysis, decision-making, and cost control.
Acceptable Fields of Experience:
- Financial Analysis
- Budgeting and Forecasting
- Management Reporting
- Cost Accounting
- Internal Controls
- Auditing and Assurance
- Risk Management
- Financial Statement Preparation
- Performance Management
- Investment Decision Analysis
Example Job Roles:
- Financial Analyst
- Cost Accountant
- Budget Analyst
- Internal Auditor
- Controller
- Finance Manager
- Management Accountant
If your job responsibilities include any of the above functions, you are likely working in a qualifying field for the CMA work experience requirement.
For more insights on the roles and tasks that meet the CMA experience criteria, check out our blog on CMA US Job Roles and Career Prospects.
How to Gain the CMA Work Experience
If you are starting your career and don’t yet meet the two-year experience requirement, here are steps to help you build the necessary work experience while preparing for the CMA US certification.
Internships and Entry-Level Positions
Even in the early stages of your career, roles like internships or entry-level positions in accounting and finance can help you gain the skills needed for management accounting. Choose positions that expose you to financial analysis, cost management, and budgeting.
Move into a Relevant Role
If you're currently in a general accounting role, aim to transition into positions that involve decision-making, analysis, or strategic financial management. Talk to your manager about taking on budgeting, cost control, or financial planning responsibilities.
Part-Time Experience
If you can only work part-time, remember that part-time work counts, but you’ll need to accumulate four years of part-time work to meet the two-year full-time equivalent.
Continue Gaining Experience While Preparing for the Exam
One of the advantages of the CMA US certification is that you don’t need to fulfill the work experience requirement before taking the exam. You can study for and pass the CMA exam while accumulating the required experience as long as you complete it within seven years of passing the exam.
For tips on preparing for the CMA exam while working, visit our Best Study Strategies for CMA US Exam Successguide.
When to Submit Proof of Your Work Experience
After passing both parts of the CMA exam, you must submit proof of your work experience to the IMA. You must dothis before you are officially awarded the CMA US certification.
How to Submit Proof of Your CMA Work Experience
Once you have completed the CMA US exam, you must provide documentation of your two years of continuousprofessional experience in management accounting or financial management to fulfill the CMA work experience requirement. This can be done before or within seven years of passing the exam.
- Complete the Work Experience Form: On the IMA website, complete the Work Experience Verification Form, listing your most recent experience first. Provide the employer's name from date to date, and indicate whether the role is current.
- Add Experience: If you have worked for multiple employers, click "Add Experience" to include all relevant roles that meet the management accounting or financial management requirement.
- Certification of Truth: At the bottom of the form, you will be asked to affirm the truthfulness of your statements and agree to comply with IMA’s Statement of Ethical Professional Practice. By typing your name, you authorize the IMA to contact your previous employers for verification.
- Submit the Form: After completing the form, submit it for review. Once the IMA verifies your work experience, you will receive your CMA certification, with your name displayed precisely as it appears on your IMA profile.
This process is essential to finalize your certification and demonstrate your ability to apply management accounting principles professionally.
Tips for Meeting the CMA Work Experience Requirement
Here are a few tips to ensure that you meet the CMA work experience requirement effectively:
- Document Your Experience: Keep detailed records of your job responsibilities and projects. These records will make it easier to fill out the Work Experience Verification Form.
- Aim for Continuous Experience: Accumulate continuous work experience rather than short-term or sporadic roles. The IMA prefers continuous employment, though they consider part-time or multiple employers if necessary.
- Diversify Your Skills: Make sure your work experience touches on different areas of management accounting. If possible, get exposure to budgeting, financial reporting, cost control, and analysis. This fulfills the requirement and prepares you for a successful career in management accounting.
- Don’t Wait to Start Gaining Experience: If you’re still in school or new to the field, start seeking internships or part-time positions that offer experience in financial management or cost accounting. The earlier you start, the sooner you can meet the CMA work experience requirement.
FAQs About CMA US Work Experience Requirement
Can I fulfill the CMA work experience requirement after passing the exam?
- You have up to seven years after passing the CMA exam to complete the work experience requirement.
Does part-time work count toward the CMA work experience?
- Yes, part-time work counts, but you must accumulate the equivalent of four years of part-time work to meet the two-year full-time requirement.
Can I use internship experience to fulfill the work requirement?
- Internships may count as long as they involve duties relevant to management accounting or financial management and are full-time or equivalent to full-time over time.
What if I don’t have a management accounting title?
- Job titles aren’t the most crucial factor. If your responsibilities involve financial analysis, budgeting, reporting, or other relevant tasks, your experience may qualify even if your title isn’t directly related to accounting.
Conclusion: Completing Your CMA US Work Experience Requirement
Meeting the CMA work experience requirement is crucial to becoming a Certified Management Accountant (CMA). By fulfilling the two-year full-time experience or equivalent, you can apply your management accounting and financial management knowledge in real-world settings.
Whether you’re gaining experience as you prepare for the exam or completing your work experience after passing, keeping detailed records and ensuring that your roles meet the IMA’s criteria is essential.
By strategically choosing your job roles, documenting your responsibilities, and understanding the CMA experience requirements, you’ll be well on your way to achieving your CMA US certification.
For a comprehensive overview of the CMA USA program, check out our detailed guide on CMA USA Course Details.
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Take the first step towards your CMA certification and visit imanet.org/cma-certification to apply - it's quick and easy!
Purchase the required entrance fee and IMA membership; then, you'll be able to register for Part 1 or 2 of the exam in any order – or both at once!
There are additional steps needed before being fully certified, such as submitting education transcripts and providing proof of work experience – although this can all be done while studying if preferred.
With just a few clicks, you could soon have an internationally recognized professional qualification on your resume, so get started today!
IMA® is a highly esteemed association committed to propelling the management accounting profession.
With over 100,000 members, we offer invaluable access to our CMA program so you can take your career and organization up a notch through professional growth. Join us in pushing the boundaries of success!
The average pass rate for the CMA varies by geographic region but is typically around 50% on both parts one and two of the exam.
CMA aspirants have three years to successfully complete both components of the exam from the day they join their program. With ample time available, success is well within reach!
A diverse range of backgrounds, from engineering to economics and business administration forms the ideal skill set our candidates need. An accounting background can certainly be beneficial; however, it is not necessary for success in this position.
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