In January 2020, ICMA, the certification division of IMA® (Institute of Management Accountants), introduced the revised two-part CMA® (Certified Management Accountant) 2020 curriculum. The most notable changes: new content covering technology and analytics in Part 1 and greater emphasis on ethics and strategic decision making in Part 2.
More than 5,000 candidates took the new exam during the January-February testing window, and the success rate was very encouraging.
“Results from the first testing window show that CMA candidates are embracing the new exam material and are well prepared for taking the exam,” said ICMA Senior Vice President Dennis Whitney, CMA. “Although you cannot project these results to the future testing windows, it is clear that candidates have studied hard and review course publishers and providers have prepared our candidates well.”
He continued, “Updates to the CMA exam reflect the findings of a periodic Job Analysis Study in which content is matched against the changing on-the-job skills needed by management accountants. Given the dramatic circumstances in the global economy and job markets, professionals need to keep pace and upskill to remain relevant in the workforce.”
Extended Testing Windows
The unfortunate effects of COVID-19 have resulted in many uncertainties for accounting and finance professionals, affecting some CMA candidates’ plans for preparing and taking the CMA exam. In the interest of offering greater flexibility, ICMA has extended the May-June 2020 testing window to July 31 and will begin the September-October 2020 window on August 1. According to Whitney, most Prometric testing centers in the U.S. and around the world have resumed operations.
“The health and safety of everyone is ICMA’s priority,” said Whitney. “Many CMA candidates are making use of online study options and using stay-at-home time as an opportunity to prepare for the exam. We're pleased that Prometric testing centers have made modifications to their facilities to ensure a safe test-taking experience.”
To support CMA candidates, ICMA offers many free study and support resources. Visit IMA's CMA Resources webpage to learn more.