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US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : In North America there are two Certified Management Accountant designations; US CMA | CMA USA and CMA Canada.
It is important to know the difference as it will impact your ability to obtain jobs internationally, as well as in Canada.
First, I want to start off by mentioning that as of 2013, CMA Canada is now considered part of CPA Canada. The CMA qualification is still recognized, but the CMA program is no longer open for new candidates.
There are several differences and similarities between the two countries, so let’s look a little deeper:
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : CMA (Canada)
Each province has their own specific exam requirements when it comes to writing the CMA, but generally they are all quite similar. Each province has a CMA board which lists the programs that have been approved.
To earn your CMA designation, candidates must first take an approved university program. Once they have completed their approved program, you must also take an CMA Entrance Examination. After that you are required to perform case studies under the 2-year CMA Strategic Leadership Program, perform a case examination and then present it to the CMA board.
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : Prerequisite and Experience Requirement
Unlike the USA, in order to qualify to write the CMA Canada, candidates must first complete a university program that has been approved by the CMA board. After completion of the university degree, candidates need to write a CMA entrance exam.
CMA Canada has accredited certain university programs, and graduates of such programs may qualify for an entrance exam exemption.
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : Pass Rates
The passing rates for these two exams are drastically different. In Canada, 90% of candidates pass their CMA examination, whereas only 35% of candidates writing the US examination pass it.
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : Final Thoughts
It’s important to keep in mind that these two CMA designations are very different. On one hand, you have the US CMA which has flexible prerequisites and exam requirements. On the other hand, the Canadian CMA is specifically designed for Canadians and is very restrictive in terms of prerequisites and exam requirements.
If you do not currently live or plan to live in Canada and want to become a Certified Management Account, I would recommend you look into getting your CMA designation from the IMA, which is globally recognized.
Though the statistics may appear less than favourable for US candidates, if you put in the time and effort you will gain a global designation, recognized all around the world versus just Canada.
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : CMA Exam Part 1 Syllabus
Part 1 of the CMA exam covers Financial Reporting, Planning, Performance, And Control.
The weights assigned to the different areas are:
| TOPIC | WEIGHTAGE |
|---|---|
| External Financial Reporting Decisions | 15% |
| Planning Budgeting and Forecasting | 30% |
| Performance Management | 20% |
| Cost Management | 20% |
| Internal Controls | 15% |
US CMA | CMA USA Coaching Or Training In Canada
US CMA | CMA USA Coaching Or Training In Canada : CMA Exam Part 2 Syllabus
Part 2 covers Financial Decision-Making, and the weights assigned to the different areas are:
| TOPIC | WEIGHTAGE |
|---|---|
| Financial Statement Analysis | 25% |
| Corporate Finance | 20% |
| Decision Analysis | 20% |
| Risk Management | 10% |
| Investment Decisions | 15% |
| IProfessional Ethics | 10% |
US CMA | CMA USA Coaching Or Training In Canada
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