The Certified Management Accountant (CMA) credential is awarded by IMA, the Institute of Management Accountants. It is designed for accountants and finance professionals who work inside companies: planning budgets, analysing performance, managing costs and supporting business decisions.
The two CMA exam parts
| Part | Focus |
|---|---|
| Part 1: Financial Planning, Performance and Analytics | External reporting decisions, planning and budgeting, performance management, cost management, internal controls and technology and analytics |
| Part 2: Strategic Financial Management | Financial statement analysis, corporate finance, decision analysis, risk management, investment decisions and professional ethics |
Both parts are computer-based exams taken at Prometric test centres. Scores are reported on a scale up to 500, and 360 is a pass. Since 2026, essays have been replaced by case-based questions; see our CMA exam format guide.
CMA fees in 2026
IMA fees depend on your membership category. These are the professional-member rates listed by IMA:
| Fee | Professional member |
|---|---|
| IMA membership (annual) | $295 |
| CMA entrance fee (one-time) | $300 |
| Exam fee, Part 1 | $545 |
| Exam fee, Part 2 | $545 |
| First-time pass, both parts | about $1,685 |
Student members pay a lower entrance fee ($225), $49 membership and $407 per exam part; see the CMA cost calculator. After you earn the CMA, IMA charges an annual maintenance fee ($30) on top of membership, and you must complete continuing education each year.
Your IMA membership must stay active to register for and sit the exams. A lapsed membership blocks scheduling, even if exam fees are already paid.
Testing windows and the three-year rule
The CMA runs in three windows each year: January to February, May to June, and September to October. Paying the entrance fee starts a three-year clock to pass both parts. Most candidates finish in 12 to 18 months by sitting one part per window with a buffer for a retake.
When the CMA is a smarter pick than CPA or ACCA
If you see yourself in FP&A, financial controlling, cost accounting or a finance business-partner role, the CMA matches that work more closely than a public-accounting route. It is also much shorter: two exams against four CPA sections or thirteen ACCA papers. If you want to audit companies or sign financial statements, a CPA or ACCA route is the right one instead.
Requirements to become a CMA
- Be an active IMA member and pay the CMA entrance fee.
- Pass Part 1 and Part 2 within three years.
- Hold a bachelor's degree from an accredited institution or a qualifying professional certification.
- Complete two continuous years of professional experience in management accounting or financial management, before or within seven years after passing.
How to get started
- Join IMA in the right category (student, academic or professional).
- Pay the CMA entrance fee and register for your first part.
- Book your Prometric appointment early in the window, as late slots fill quickly.
- Plan the second part for the next window so you stay well inside the three-year limit.
Frequently asked questions
How much does the CMA cost in 2026?
For professional members, IMA lists a $295 annual membership, a one-time $300 CMA entrance fee and $545 per exam part, which is about $1,685 for a first-time pass of both parts. Students and academics pay lower rates. Review courses are extra.
How long do I have to pass both CMA parts?
Once you pay the CMA entrance fee, you have three years to pass both parts. If you do not, passed parts expire and you must re-enter the programme.
Which CMA part should I take first?
You can take either part first. Many candidates start with Part 1 because it covers budgeting, cost management and performance analysis that they already use at work.
Do I need an accounting degree for the CMA?
No. IMA requires a bachelor's degree from an accredited institution or a qualifying professional certification, plus two years of relevant work experience, but the degree does not have to be in accounting.
Is the CMA recognised outside the US?
Yes. The CMA is earned by candidates in many countries and is particularly popular in the Gulf, India, China and parts of Asia for corporate finance roles.
Official sources