The Certified Management Accountant (CMA) qualification is a post-graduate level professional qualification that those already possessing a CA/CPA would undertake whilst at a senior level in the organisation. In short, the CA/CPA are ‘generalist’ qualifications, mainly focusing on statutory financial reporting, auditing and taxation; whilst the CMA is a ‘specialist’ qualification focusing on strategic decision-making, business analysis and sustainable value creation.

A CMA is part of the management team, who understands the business formula for delivering value to the customer, arriving at strategies for identifying, developing, marketing and evaluating a product or service throughout the entire life cycle. He or she assesses the competitive environment and ascertains whether there is a sustainable competitive advantage. Unlike a CA/CPA, who mainly emphasises after-the-fact verification for statutory purposes, the CMA looks to the future to provide real-world strategic direction, business management and leadership. A CMA creates value instead of just measuring it.

IMAC accredited bodies have over quarter-century of history in setting the current standard of skills and qualifications needed to be certified as a management accountant in a number of regions around the world. All CMA members of IMAC professional bodies must have a relevant accounting degree or equivalent before undertaking the Certified Management Accountant (CMA) professional program; and upon qualifying, must possess 5-years of relevant experience to become a CMA.

The region’s CMA programme is conducted by the Institute of Certified Management Accountants of Australia and New Zealand (ICMA-ANZ) via Zoom.

Those with an “Accounting” background (such as an accounting degree, CA, CPA) or an MBA need to do 2 specialist electives to get the CMA certification as follows:

  • Strategic Cost Management
  • Strategic Business Analysis

These two units have been assessed as equivalent to two Post graduate Masters (Level 9) NZQA units.

Each of these units would normally run over an entire semester in a university (78 hours in total). However, because of the prior knowledge and experience of participants (C-suite level) and the intensive nature of the program, participants will be able to complete the program by Zoom over 7 days (56 hours).

The additional 22-hours in universities is taken up by ‘student presentations’ for grades. This is not done in the CMA intensive class. Other than that, participants receive the same training, simulations, and case study experiences as in a regular university master’s degree course.

All those who participate in the program take part in over 24 case studies. This is a very applied educational program; and as per the feedback we have received from most participants – they have been able to apply their learning at their workplace with great success.

For Certified Management Accountant (entitled to use the designatory letters CMA) the Entry Criteria is a Degree in Accounting, Commerce or Finance, or an MBA*, from a recognised university or Professional Qualification in Accounting or equivalent; AND completion the CMA preparatory program; AND 5 years approved experience in a senior and responsible business position.

Work experience refers to any senior level business-related experience in managerial accounting and business analysis. This also includes academics in a business-related field and those in governments and NGOs.

Relevant experience in management accounting and business analysis is broadly defined to include the gaining of experience in the provision of information in a wide range of managerial functions including costing, pricing, marketing, strategy, governance, financial analysis, financial planning, logistics, information systems, human resource management, academia, etc.

*The MBA degree must be from an accredited or government recognised University provided the applicant had been admitted to the MBA program after completing an undergraduate degree in any discipline or had an equivalent recognised professional qualification AND done the subjects Financial Management and Management Accounting (or equivalent) as part of their MBA degree program. Those who were admitted to their MBA program based on experience only, will need to submit their CV to ICMA (ANZ) to evaluate if they can be admitted to the CMA program.

Membership of IMAC accredited bodies such as the ICMA (ANZ) is awarded based on multiple criteria at the sole discretion of the membership committee of the membership committee.

Certified Management Accountant (CMA) grade membership is usually awarded after candidates follow the 2-subject ‘CMA certification program’ with a required attendance record and successfully complete all examinations, assignments, and other assessments required. In such cases, a Membership Certificate AND a transcript showing the assessment grades obtained in the subjects is issued to the candidate by ICMA.

In the case of ICMA(ANZ) membership, if you are a qualified accountant and have over 20 years of relevant experience, you will be exempted from having to sit for exams (under ICMA’s 20-year rule) if you attend and follow the CMA course via face-to-face mode or via Zoom. Those having less than 10 years of relevant experience have a choice of sitting the 2-paper exams OR writing two 3,000-word assignments (one for each subject). Those having between 10-20 years of relevant experience have a choice of sitting the 2-paper exams OR writing one 3,000-word assignment. Those undertaking the program via face-to-face or Zoom and having 10-20 relevant experience need to write only one assignment covering both subjects. Those undertaking the program in Online or in Distance Education mode, must do two assignments (one for each subject) irrespective of the years of experience.

Those undertaking the program in Online or in Distance Education mode must submit their assignments only after 3 months of enrolling in the CMA(ANZ) course and within 6 months of enrolling. For those undertaking the program via face-to-face or Zoom, there is a one-month study period after attending the course before participants are allowed to submit assignments or sit for exams. Assignments must be submitted within 3 months of completion of the program. Deferment of the assessment is permitted up to a maximum of 2 years from completing the CMA(ANZ) course if the student has been prevented from completing an assessment through illness or exceptional circumstances.

In special circumstances, CMA(ANZ) membership is granted to senior executives and/or academics without any assessments. In such cases, ONLY a Membership Certificate is issued. Transcripts are only issued to those undertaking assessments (exams or assignments).

Sometimes, those who have obtained CMA(ANZ) membership under the 20-year rule (i.e. without assessments) request a transcript for purposes of further studies or due to a request from their employers. In such cases, please contact info@cmaaustralia.edu.au to be directed to how best to do the assignments. If they have undertaken the CMA program prior to the time of a syllabus change, they may need to undertake the CMA program again.

A recognised accounting qualification is either:

  1. An undergraduate degree with an accounting specialisation (at least 25% of the degree must be accounting and finance subjects) from an “accredited” university, or
  2. An postgraduate degree (e.g. MCom, MBA) with an accounting specialisation (at least 25% of the degree must be accounting and finance subjects) from an “accredited” university, or
  3. A professional accounting qualification from a body granted a Royal Charter or Government Charter. Most “Certified” bodies are also acceptable, however, in some countries, as the word “Certified” is not a restricted term, there are some accounting bodies using “certified” in their title that would be unacceptable to the IMAC accredited bodies as a recognised accounting qualification, or
  4. Those holding membership of the following accounting professional bodies HAVE been recognised in the past by the IMAC accredited bodies as having a recognised accounting qualification.
  • All Chartered Accounting bodies worldwide
  • AICPA (USA)
  • CPA Australia
  • MIA (Malaysia)
  • MICPA (Malaysia)
  • ICPAS (Singapore)
  • ICA (formerly ICWA) (India)
  • ICMA (Pakistan)
  • ICMA (Bangladesh)
  • CIMA (UK)
  • CACA (UK)
  • ICSA (UK)
  • CGA (Canada)
  • SMA (Canada)
  • CPA (Philippines)
  • CPA (Pakistan)
  • ICMA (PNG)
  • CPAC (China)
  • LACPA (Lebanon)
  • CPA Ireland
  • Saudi Organisation of CPAs (Middle-East)

Note: CMA members of IMA USA are required to complete 2 units of the GMA Stage 4 program: Financial Management and Financial Statement Analysis.

Those holding membership of the following accounting (and related) bodies HAVE NOT been recognised in the past by the IMAC accredited bodies as having a recognised accounting qualification.

  • Non-CMA members of IMA (USA)
  • Association of International Accountants (UK)
  • Association of Cost and Executive Accountants (UK)
  • Society of Certified Management Accountants (Sri Lanka)
  • Institute of Certified Management Accountants (Sri Lanka)
  • Society of Company and Commercial Accountants (UK)
  • Society of International Accounting Technicians (UK)
  • International Institute of Certified Management Accountants (USA)
  • Associate of the Institute of Co-operative and Management Accountants, (Malaysia).
  • CPA International (there are many bodies with this name operating in different countries)
  • Institute of Financial Accountants (UK)
  • Chartered Financial Management Analyst (USA)
  • Chartered Portfolio & Investment Manager (USA)
  • Chartered Trust and Estate Planner (USA)
  • Certified Economic Policy Analyst (USA)
  • The Registered Financial Planners Institute (USA)
  • Society of Registered Financial Planners Limited (HK)
  • Institute of Financial Consultants (Certified Financial Consultant)
  • Association of Financial Planners (UK)
  • Chartered Business Administrator (USA)
  • Chartered Business Administrator (Canada)
  • Canadian of Institute of Professional Accountants
  • Institute of Professional Financial Managers (IFC USA),
  • American Academy of Financial Management (AAFM-USA)*
  • Institute of Professional Financial Managers (UK)
  • Association Of Certified Fraud Examiners (USA)
  • The Institute of Commercial & Financial Accountants of Southern Africa (South Africa)
  • Association of Certified Management Accountants (UK)
  • Institute of Chartered Accountants of the Commonwealth
  • Association of Certified Public Accountants (U.K.)
  • Institute of Executives and Managers (U.K.)
  • Institute of Service Industries Management (U.K.)
  • The Institute of Co-Operative and Management Accountants, Malaysia.
  • Association of Incorporated Secretaries and Administrators (U.K.)
  • Institute of Certified Public Accountants (New Zealand)
  • Institute of Certified Management Accountants of New Zealand
  • All members of the U.K. based Confederation of Independent Accountancy Bodies (CIAB).

* The AAFM conducts non-examination seminars leading to a host of post-graduate sounding certifications such as Master Financial Professional, Certified Cost Accountant etc., all of which are NOT recognised by IMAC accredited bodies for membership purposes.

In most countries the word University is a protected name, and granted to institutions after significant demonstration of academic rigor and research scholarship. However in some countries the word “University” is registered as a business name, and degrees are granted for “life experience”. A majority of such universities are in the USA and UK, but there are some in Asia, Europe and Africa. The IMAC accredited bodies consider as “accredited” only those universities accredited by the 5 regional accrediting agencies in the USA, or those that have a Royal Charter as a university in the UK. In most other countries, as the word “University” is strictly controlled, the IMAC accredited bodies will recognise all such institutions registered in their countries as universities.

Those holding “degrees” of the following “Universities” HAVE NOT been recognised in the past by the IMAC accredited bodies as having a recognised university degree.

  • Pacific Western University (USA)
  • Brainae University (USA)
  • Columbia Pacific University (USA)
  • American University of Asia (Sri Lanka)
  • American University of London
  • Browns International University
  • Michigan International University (USA)
  • European University of Ireland
  • Fairfax University (USA)
  • Clayton University (USA)
  • Newport University (USA)
  • Kesmonds International University (USA)
  • International University (USA)
  • Rushmore University (USA)
  • Somerset University (UK)
  • Southern Pacific University (S.P.U.) (St. Kitts & Nevis)
  • Washington International University (USA)
  • Preston University (USA) and affiliated campuses around the world
  • Sussex College of Technology (UK)
  • Rochville University (USA)
  • Calamus International University
  • Royal International University (Virgin Islands)
  • Wisconsin International University
  • Wessex University
  • Canadian College of Professional Management
  • Cosmopolitan University, Chile
  • Atlantic International University, USA
  • Pebble Hill University, USA
  • Mist University
  • Irish University Business School
  • Novus University (USA)
  • Canadian School of Finance and Management (Postgraduate Diploma in Management Accounting)
  • American College of Computer & Information Sciences
  • American International University
  • American Management University
  • Al Arab University
  • Universidad Empresarial de Costa Rica

[Please see Australian Education Credentials Standards Agency for a full list of unaccredited universities]

WES (World Education Services) is a privately owned, non-profit organisation—not a government agency. It specializes in evaluating academic degrees but explicitly states on its website that it does not assess professional qualifications such as the US CPA, US CMA, or similar credentials.

While WES may evaluate academic degrees for individuals seeking admission to programmes like the US CPA or CMA, it does not evaluate the CPA or CMA qualifications themselves.

Please note that IMAC accredited bodies doe not accept WES-evaluated credentials for entry into the CMA programme.

Those who are interested in the CMA program by ZOOM please click here.

If you have any other queries, you can direct your questions to the Contactperson listed on the Home Page or by email to our Sectretariat that will in turn forward your email to the relevant section/person.