Last updated: July 2026. Written by Josh Hutcheson, OnlineCourseing editor. See our review methodology.
QUICK VERDICT
Bottom line: The CMA (Certified Management Accountant) is the credential for corporate management accounting and financial strategy — budgeting, cost management, and FP&A inside companies. It is a focused, two-part certification that is faster than the CFA or a full CPA, and it is genuinely worth it if your career is in corporate finance rather than public accounting. The fastest way to build the underlying skills is a practical FP&A program — see our FP&A certification guide.
The CMA, awarded by the Institute of Management Accountants (IMA), sits between the CPA and the CFA: more corporate and strategy-focused than the CPA's audit-and-tax orientation, and more accounting-focused than the CFA's investment lens. This guide covers what it is, the exam, the cost, and whether it is worth pursuing.
What is the CMA?
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The CMA is a professional certification focused on management accounting and corporate financial management. It is built for people who work inside companies — in FP&A, cost management, budgeting, and financial strategy — rather than in public accounting or investment management. Where a CPA can sign audits, a CMA signals expertise in driving business performance with financial analysis.
The CMA exam and requirements
The CMA exam has two parts: Part 1 covers financial planning, performance, and analytics; Part 2 covers strategic financial management. To earn the credential you also need IMA membership, a bachelor's degree, and a couple of years of relevant management-accounting experience (which you can complete around the exam). Most candidates finish in roughly one to two years part-time — faster than the CFA's three levels.
How much does the CMA cost?
Budget for several components: IMA membership, a CMA program entrance fee, and an exam fee for each of the two parts, plus a review course if you use one (Gleim, Surgent, Hock, and Wiley all offer CMA prep). Altogether it is typically a four-figure investment — meaningfully less than the CFA or a full CPA path. Fees change, so confirm current amounts with the IMA and your chosen review provider.
Is the CMA worth it?
For a corporate-finance career, yes. The CMA maps directly to FP&A, cost accounting, and the controller-to-CFO track, and it is a strong differentiator for those roles — often more relevant than a CPA if you never plan to work in audit or tax. It is less useful if your goal is public accounting (where the CPA license is expected) or investment management (where the CFA leads). Match the credential to the career: the CMA is the corporate-finance specialist's pick.
Deciding between credentials? See CPA vs CMA, CFA vs CMA, and our FP&A certification and best accounting courses guides.
Frequently asked questions
Is the CMA certification worth it?
For corporate finance, FP&A, and the controller-to-CFO track, yes – it maps directly to those roles and is faster and cheaper than the CFA or CPA. It is less useful for public accounting (CPA) or investment management (CFA).
How hard is the CMA exam?
It is challenging but more focused than the CFA or CPA – two parts covering financial planning/analytics and strategic financial management. Most candidates pass within one to two years part-time with a review course.
How much does the CMA cost?
Expect a four-figure total: IMA membership, a program entrance fee, exam fees for both parts, and optionally a review course. It is generally less than the CFA or a full CPA path; confirm current fees with the IMA.
CMA or CPA – which should I get?
Get the CPA for public accounting, audit, tax, or maximum breadth; get the CMA if your future is corporate finance and management accounting. See our CPA vs CMA comparison for a full breakdown.