Preparation for the Certified Management Accountant
The same method behind our FPAC programme: learning by doing, with terminology in the exact English the exam uses. The track is in preparation — no date and no price are announced yet.
The CMA, in brief
The Certified Management Accountant (CMA) is issued by the Institute of Management Accountants (IMA) and is examined in two separate parts. Our track is still in preparation; what follows describes the exam itself so you know what you would be preparing for.
What the exam covers
| Part 1 | Financial Planning, Performance and AnalyticsExternal financial reporting decisions, planning, budgeting and forecasting, performance management, cost management, internal controls, and technology and analytics. |
|---|---|
| Part 2 | Strategic Financial ManagementFinancial statement analysis, corporate finance, decision analysis, risk management, investment decisions, and professional ethics. |
Format of each part — Each part is four hours: one hundred multiple-choice questions followed by two essay questions.
Who can sit it
- 01An active IMA membership and registration in the CMA program.
- 02A bachelor's degree from an accredited university, or a professional qualification the IMA accepts.
- 03Two years of continuous professional experience in management accounting or financial management, which may be completed after passing the exams.
- 04Passing both parts, and adherence to the IMA statement of ethical professional practice.
Requirements and fees are set by the IMA and can change; verify them there before you register. The Academy is an independent preparation provider and is not affiliated with the IMA.
The CMA track is in preparation
There is no announced date and no price yet. Leave your email, choose CMA, and we will write to you once when it is announced.
Join the CMA listRoadmap
Roadmap: the first track is open, the second is in preparation.
| FPAC | First FPAC module availableCompleted modules are available to enrolled students | |
| FPAC | FPAC curriculum completeAll modules available | In preparation |
| CMA | Curriculum design completeIn preparation | In preparation |
| CMA | Beta modules availableIn preparation | In preparation |
| CMA | Full track openIn preparation | In preparation |
FPAC vs CMA
The two credentials differ in scope and audience. Here is a fact table to help you choose.
| FPAC | CMA | |
|---|---|---|
| Issuing body | Association for Financial Professionals (AFP) | Institute of Management Accountants (IMA) |
| Coverage | Part I: financial acumen — understanding and managing financial information and business relationships. Part II: financial analysis and business support — building, interpreting and communicating financial projections. | Management accounting & financial management: financial reporting, planning & performance, cost management, finance, decision analysis, and risk. |
| Exam parts | Two parts (Part I and Part II) | Two parts |
| Exam time | Part I: 3 hours / Part II: 4.5 hours | Four hours per part |
| Format | Part I: 140 multiple-choice questions / Part II: 45 task-based simulations + 10 case analyses | 100 multiple-choice questions + two essay questions per part |
| Best for | FP&A analysts, budget owners, forecasters, and anyone working in or moving into FP&A. | Management accountants, cost analysts, and those in corporate finance or strategic financial management. |
| Our status | Curriculum published — 21 modules | In preparation — no date, no price |
Not sure? Leave your email and choose "Both", and we will write when each track opens.
FPAC
FPAC is the first programme and its full curriculum is already published.
See the FPAC curriculum