CMA Exam Content Is Relevant to Profession

The findings of a recent Job Analysis Survey conducted by the Institute of Certified Management Accountants (ICMA), confirms that the content of the Certified Management Accountant (CMA) exam continues to be relevant to the on-the-job knowledge and skills performed by management accountants. The Survey was the first validation survey performed since the CMA exam content was revised in 2004.


Thousands of executives with financial reporting responsibilities use the Comperio on-line library to access the type of information and interpretive guidance PricewaterhouseCoopers' own professional audit staff use around the world. Key content areas include guidance from the FASB, EITF, PCAOB, SEC, and others as well as PwC's interpretive guidance. Get more information and sign up for a complimentary 30-day trial.

“We’re pleased to confirm that the CMA exam continues to represent the relevant body of knowledge used by today’s professionals. With a changing business environment and increasing demands of management accountants to perform as strategic business partners, CMA certification becomes a critical factor in building professional capabilities,” Priscilla Payne, vice president, Certification, ICMA, said in a prepared statement announcing the survey results.

The CMA exam consists of four parts and includes topics such as economics, business finance, cost management, performance measurement, financial reporting, decision analysis, and strategic planning, with a strong emphasis on ethics. In addition to passing the exams, a practitioner must have two years of relevant work experience to become certified and fulfill the education requirement. Originally introduced in 1972, the CMA certification is developed and refined using generally accepted best practices for credentialing programs, including the Job Analysis survey, psychometric testing of exam questions, and other quality control measures.

The Job Analysis Survey was conducted through Thomson Prometric who distributed the psychometric survey to more than 34,000 CMA-certified and noncertified accounting professionals, worldwide, in January 2006. The survey measured the relevance of 43 tasks and 144 knowledge/skill items tested through the body of knowledge of the CMA exam. Of the responses collected, 1,860 responses were tabulated. Mean survey results indicated that CMA exam content rated “adequate” to “well”, as compared to on-the-job duties.

“More than 90 percent of finance and accounting professionals in the U.S. work inside organizations, rather than in public accounting. The CMA is the appropriate certification for this job role, is recognized globally, and is applicable to all industries,” Payne said.

The ICMA is the certification division of the Institute of Management Accountants (IMA), the world’s leading organization dedicated to empowering accounting and finance professionals to drive business performance. The IMA has nearly 65,000 members worldwide.

You may like these other stories...

Steve Jobs. Sergey Brin. Mark Zuckerberg. Each of these individuals, and their companies, are celebrated as changing the face of the technology. They all followed a similar path to success: excelling at one thing and...
Read more articles by Sally Glick here.While reading a recent article titled, "Bondage to Busyness," by Alan Morinis, I was struck by his reminder regarding how stressed and pressured we all are today. Our...
To assist firm leaders in making key decisions for the future, BKR International, one of the top 10 global accounting associations. recently put together a list of the five priorities managing partners must address...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.