Students: Interested in taking the CMA® (Certified Management Accountant) exam? Is there a faculty member who recognizes your potential and commitment to pursuing a management accounting career? Students are encouraged to speak to their professors about being nominated for a CMA Scholarship, which allows motivated students the chance to pursue their CMA certification at no cost.
Students must be nominated by faculty members (both U.S. and international), and IMA will award a maximum of 10 scholarships per school per academic year. To date, more than 9,200 students globally have received the CMA Scholarship, representing more than 1,000 colleges and universities from around the world and valued at more than $14 million.
Scholarship awardees receive a comprehensive package of benefits, including:
- Entrance fee to the CMA program
- Exam support package with retired exam questions and a glossary of terms
- Registration fees covering both parts of the exam (additional fees will apply for retakes)
- Wiley CMAexcel Online Test Bank access for both exam parts for up to two years (all regions, except China and India)
- Up to three years of IMA® (Institute of Management Accountants) membership while pursuing the certification
For those considering the exam, note that the CMA exam changed in January 2020 to ensure that it remains relevant to the changing skill set required of accounting and finance professionals working inside organizations.
While the exam still contains two parts – each a four-hour test with 100 multiple-choice questions and two essays – what has changed is some of the content:
- Fifteen percent of Part 1 features a new “Technology and Analytics” section. Part 1 is now titled “Financial Planning, Performance, and Analytics” and includes content focusing on external financial reporting decisions, planning, budgeting and forecasting, performance and cost management, internal controls, and technology and analytics.
- The revisions to Part 2 include a greater emphasis on ethics and strategic decision making. Part 2 is now titled “Strategic Financial Management” and includes content on financial statement analysis, corporate finance, risk management, investment decisions, decision analysis, and ethics.
For more information on CMA 2020, please visit this link. For more information on the CMA Scholarship Program and nomination forms (which must be submitted electronically), please visit CMA Scholarship on the IMA website.