Exam Prep for CPA or CMA
Professional certifications are optional features of the MBA for Accounting Professionals. Concurrent with the CPT phase of the program, the students take online distance education courses that prepare them to sit for the examinations required as a step toward professional certification either as a Certified Management Accountant (CMA) offered by the Institute for Management Accountants, or as a Certified Public Accountant (CPA) offered by the American Institute of CPAs. It is the student’s choice and expense to register to take the professional exams at one of the many testing centers throughout the USA.
The CMA exam focuses on knowledge and skills required for business planning, internal controls, internal reporting and decision-making. Professionals taking the CMA exam typically expect to work for a business or governmental organization.
Certified Management Accountant (CMA)
The Certified Management Accountant (CMA) credential, offered by the Institute for Management Accountants (IMA), “demonstrates your command of the critical accounting and financial management skills demanded by today’s dynamic businesses, translating into significant career opportunities for you.” CMAs are highly respected and internationally-recognized professionals. The CMA is appropriate for those who want to become experts in helping their own organization with business planning, developing internal controls and improving decision-making and internal reporting. CMAs develop their careers from within a business organization. CMAs typically begin their careers as cost accountants or business analysts. With more experience, they can become accounting managers, controllers, or chief financial officers.
How will an MBA affect my future earning potential? A recent compensation survey conducted by the Institute for Management Accountants found that the average salary of its members is about 10% higher with a master’s degree. The IMA also indicates that the average person who passes the CMA (Certified Management Accountant) exam earns approximately 10% more than those who don’t have the CMA. (Source: IMA Annual Career and Salary Guide).
Click for more information about how to become a CMA. For information about the CPA exam, go to the website for the American Institute of Certified Public Accountants.