Today’s economy is in a state of metamorphosis - the emphasis is shifting rapidly from only education to education combined with the correct skill sets required in the ever-evolving job landscape. Hiring managers seek employees with the right skills that boost management accounting and overall team supervision. One such certification which is in high demand is the US CMA certification.
What is it?
The US CMA certification is recognized in over 170 countries and is regarded as a top-level credential in management accounting. Achieving this certification is the dream of many in the field of accounting and finance. Employers in the field accord high priority to this accreditation and offer high-paying jobs to those who have secured the certification. However, preparation for passing the exam requires focus and the correct information. Here are some tips to help you manage stress and prepare better.
1. Comprehensive information is essential for proper planning
The first step for aspirants is gathering information about the pattern and scope of the exam. The test is conducted in two parts- the first comprises 100 multiple-choice questions to be attempted within 3 hours; the second consists of two essay-type questions to be completed within an hour. The broader topics covered are investment decisions, risk management, professional ethics, corporate finance, financial statement analysis, and decision analysis. Each area has a different weight.
2. Proper study material is vital for success
There are multiple sites that offer study material for the US CMA certification. However, one must be vigilant and choose a platform that has collaborations with eminent institutes, is credible, and provides comprehensive training. The program should also include components like flexibility and exposure to experts in the field.
3. Do not overschedule
Psychologists have suggested that overpacking your day/to-do list with multiple things may overwhelm you and result in fatigue and resistance. Therefore, it is advisable to start preparing in advance and take smaller steps toward your goal. Schedule regular breaks in your study timetable and utilize memory strategies like mnemonics to aid retention.
4. Regular practice
As mentioned, the exam tests knowledge and time management since applicants must attempt questions within a prescribed time frame. Therefore, it is essential to give mock examinations regularly. Practice sets also help you gauge the pattern of questions and may help familiarize you with the important portions of the course material.
5. Choose reliable exam allies
An essential component of any exam is choosing the right ally. Experts suggest that peer learning and interactive forms of teaching produce better results in terms of information comprehension and retention. Since working professionals usually attempt this exam, having a dedicated support group can help dissipate exam anxiety and manage work pressure along with the syllabus.
They also help one remain up-to-date with the dates of registration and other vital timelines that one needs to track in the case of the US CMA certification exam. Therefore, the chances of error due to negligence are significantly reduced.
The popularity of the US CMA certification necessitates extensive preparation. However, aspirants must remain level-headed and calm. Strategy and extensive research are the keys to laying the proper groundwork. It is also important to choose the right preparation partner or platform to help you learn and practice for the exam. Additionally, hard work, versatility, and diligence, in consonance with a positive attitude and the desire to grow, are indispensable in cracking the exam.
About my author
Joy Parekh, Sr, Vice President, Head of Product - Imarticus Learning is a digital transformation enthusiast. He has pioneered new growth initiatives in the Finance and EdTech sectors over the past 15 years. He has extensive experience in building product lifecycles and establishing GTM strategies for existing and new product verticals across the institutional and consumer landscapes in India and South-East Asia.