There are numerous benefits of doing CMA in UAE. As per latest IMA survey CMAs earn 64% higher than non-CMAs in UAE. With the passage of time demand of CMA certification holders is increasing in Dubai and Abu Dhabi.
There are six (6) eligibility requirements to become CMA. Let’s explain them one by one:
Student must fulfill any of the following education requirements with reference to CMA eligibility:
- Bachelor’s Degree from an accredited college or university
This CMA eligibility requirement is straight forward. Important point: bachelor’s degree is acceptable even if you didn’t study accounts, finance, commerce. This means non-finance professionals can also become CMA.
- Professional Certifications
This option is available to those individuals who do not have bachelor’s degree but they have professional certifications from other bodies. IMA do recognize some professional bodies as per mutual understanding. For example, bachelor’s degree is not required for ACCA qualified individuals.
Note: If your bachelor’s degree is in progress you can still appear and pass CMA exams. Degree will be required only upon awarding for CMA certification.
In order to fulfill CMA eligibility requirement for experience, you must complete two continuous years of professional experience in management accounting and/or financial management. Experience requirement can be completed either before or after passing of CMA exams within seven years.
This is the most important CMA eligibility criteria. In fact, this is the only criteria which you should be focusing on. You have to pass two CMA examinations:
Part 1: Financial Reporting, Planning, Performance, and Control (4 hours – 100 multiple-choice questions and two 30-minute essay questions)
Part 2: Financial Decision Making (4 hours – 100 multiple-choice questions and two 30-minute essay questions)
No one is allowed to appear in CMA examination without becoming member of IMA. There are multiple membership options are available. Most of the students choose professional membership. CMA membership is valid for one (1) year period of time but there can be come exceptions. After one (1) year membership will expire which should be renewed. Remember: expired CMA membership does not entitle you to appear in exam. You must have active IMA membership.
CMA Entrance Fee
CMA entrance fee eligibility requirement is only for one time. Upon registration there will be three (3) year time period to pass CMA examination. If both exam parts are not successfully completed within three years of entering the certification program, any passed part will expire and the CMA entrance fee will have to be repaid.
IMA Statement of Ethical Professional Practice
As being CMA certification holder you are supposed to work IMA ethical professional practice. A commitment to ethical professional practice includes overarching principles that express IMA values and standards that guide member conduct. There are mainly four pillars of IMA ethical statement: competence, confidentiality, integrity, credibility.
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