February 26, 2018 at 10:59 pm #1720213
I passed the CPA Exam in November 2016, and it was really tough to pass all four parts of that exam. I have heard some people say that the CMA Exam is nothing and it's easy or a cake walk. Let me be the first to say those individuals are wrong. I will give mad respect to anyone that has passed the CMA Exam. There is a ton of material and the exam process could possibly be more brutal than the CPA Exam (maybe not now with all of the new DRS on CPA Exam), but still the CMA Exam is a pretty difficult set of exams.
Taking Part 1 of the CMA Exam was like taking FAR, BEC and AUD at the same time. I was shocked at how much External Audit Material was tested on the Exam. I can't go into specifics but it was shocking.
If you don't pass the 100 multiple choice questions with at least a 50% or higher you automatically fail and you can't even attempt the essay questions. I passed the multiple choice questions and was able to move on to the essay portion. The essay questions was like BEC on steroids.February 27, 2018 at 7:23 am #1720264LentilcounterParticipantFebruary 27, 2018 at 9:51 am #1720339mtaylo24Participant
Lol, I took it 2weeks ago and didn’t even make it to the essays. F that test, I’m good with being a CPA.February 27, 2018 at 10:01 am #1720343ohiocpacmaParticipant
The CMA exam is passable. I think it was easier than the CPA exam for me, but that may be because I've spent my whole career in industry (Cost Accounting/Management Accounting/Finance) rather than public or tax. The exam requires a good amount of study time and the difficulty should not be discounted. People that pass the CPA exam first may fall into this trap.February 27, 2018 at 10:11 am #1720352
Lentilcounter, I'm using Gleim CMA. I purchased it back in March of 2017. I have studied off and on for the past 11 months. When I say off and on, I mean two weeks one month and maybe a week the next month.
Over the last four months I have tried to be more consistent with my studying since the IMA does not allow you to move your exam to another testing window like the CPA Exam, but with tax season (working my day job and working as a tax adviser for Intuit – TurboTax at night) studying consistently has been extremely difficult. I'm praying that I passed so I can move on to Part 2. I'm not 100% sure what the certification will do for me, but it has been a long term goal of mines for the last ten years along with the CPA Exam. I wasn't exactly sure what the CPA License would do for me since I had left public for the private industry and my current employer didn't really care about the exam, but when my employer needed a line of credit from a bank and they only got the line of credit because I was a licensed and active CPA, the value of my CPA License changed overnight. You never know when these certifications will come in handy. Better to always have and not need than to need and not have.
mtaylo24, you, me and ledgerl0ver were supposed to keep each other up to date with our CMA studying/exam dates. We were supposed to encourage each other as we traveled down the CMA path. If you do decide to start back studying, please keep me posted on your progress. We have to keep each other motivated and encouraged. These exams can drive you crazy.February 27, 2018 at 10:14 am #1720354
ohiocpacma what study material did you use? Also, congrats on being a CPA and CMA!February 27, 2018 at 10:21 am #1720366aaronmoParticipant
Does this cert really do anything for you after a CPA?February 27, 2018 at 10:25 am #1720373LedgerL0verParticipant
I just took Part 1 on Feb 15. I thought it was pretty challenging, but doable. But then again I have been studying like a fiend since mid November 2017…
I took the full 3 hours for the MCQ's and basically the entire hour for the essays. I had to think over my answers quite a bit and at a certain point, I know I just started rambling and trying to throw out key words and concepts. @OnmywaytoCPA what did you think of the essays?
I just started studying for part 2 and am loving the simplicity but we will see how long that lasts- haha!February 27, 2018 at 10:45 am #1720390mtaylo24ParticipantFebruary 27, 2018 at 11:52 am #1720424ohiocpacmaParticipantFebruary 27, 2018 at 12:48 pm #1720468AnonymousInactive
I passed both parts of the CMA. I'm studying for FAR now and have completed the GLEIM CMA book. I used GLEIM CMA for both parts of the CMA and thought it prepared me adequately, helping me pass both sections on the first attempt. As mentioned above, I felt that the GLEIM questions were more difficult than those on the actual exam.
In comparing CMA to the material on FAR, it seems that the CMA, especially part 1, has significantly more calculations and requires the memorization/internalization of dozens more formulas. We'll see how I feel when I take FAR in a month.February 27, 2018 at 1:41 pm #1720516
@LedgerL0ver, yes those essay questions were crazy. I was rambling too. It reminded me of how I made up everything on my BEC essays. I completely rambling through those and still passed. I'm hoping it's the same thing this time around. I'm praying that both of us passed.
Thanks @mtaylo24! I appreciate the encouragement.
@AF, if you passed Part 1 pf the CMA exam, than FAR will be a piece of cake. It's all the same material.February 27, 2018 at 1:58 pm #1720525AnonymousInactive
@onmywaytocpa good to know! I definitely noticed a lot of overlap.February 27, 2018 at 6:41 pm #1720726CPA2BEEParticipant
Unless you have a job in industry, does the CMA even do anything for you? In fact, even if you do work in industry, does it really do anything for you?February 27, 2018 at 7:42 pm #1720763LentilcounterParticipant
This is something that I have wondered about. A lot of manufacturing industry jobs will say CMA preferred but will also list CPA as an acceptable credential too.
For example, I got my EA 4 years ago. Now that I have my CPA too, the EA is in some ways redundant. But what a lot of people don't know is that an EA does ONLY tax. All my CPEs are about tax. CPAs are not just focused on tax work. So if I apply for a tax job, having both credentials saya that I'm serious about tax. Similarly, I would like to know if the CMA adds something extra…
CMA Exam is Tough – Just took Part 1 Today
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