CMA Exam is Tough – Just took Part 1 Today - Page 3

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  • #1720213 Reply
    OnmywaytoCPA
    Participant

    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.

    AUD - 83
    BEC - 79
    FAR - 77
    REG - 90
    CMA Part 1 - 360 (Barely made it but I made it)
    CMA Part 2 - 360 (Made it by the skin of my teeth)
Viewing 15 replies - 31 through 45 (of 63 total)
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  • #1754418 Reply
    ohiocpacma
    Participant

    @crazyleon…. We get it. You seem to be very motivated on certifications that only benefit in career advancement, security, and compensation. That's fine, please disregard the CMA or obtaining an MBA.

    I got my CPA two years after starting my career and it's been helpful getting interviews and gaining a leg up on the competition. I chose to go for the CMA because it focuses on managerial accounting which is relevant to many jobs in industry. The CMA may not be recognized by the general public, but it helped me understand and grasp those managerial concepts which has helped me more than knowing auditing or tax regulations.

    Also, please be careful with generalizing that many people with MBA's are dumb. With any education, it's important to know the institution that trained the person and their past accomplishments. I'm currently taking night classes in a top 30 MBA program and there are many intelligent people from all different functions of business (CFAs, CPAs, Unbelievable Proficient Communicators, IT specialists, Engineers, Doctors, Scientists, etc). An MBA probably will not be fully beneficial if someone wants to stay in accounting, but there are benefits for understanding the business as a whole. The MBA is not the ends to being a manager. It's a degree that gives you a tool box of methods and thinking to become a good manager.

    It comes down evaluating other certifications and education within the goals of your career. Mine are not solely based in money or prestige, but to learn and grow in my understanding of business.

    We want to avoid any criticism of the way we administer this liberal gift. For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of man. 
    #1754424 Reply
    LedgerL0ver
    Participant

    @ajga- I took the exam Feb 15 and expect to receive my results around mid-April. Have you started studying for the CMA yet?

    @crazyleon- I am not getting the CMA for prestige. I already have the CPA for that. I also can't pinpoint exactly what topics the CMA covers that the CPA doesn't, but I do know that I definitely haven't recognized a few topics. As I mentioned before, the CMA is valuable in that it has definitely enhanced my skills as an industry accountant no doubt. I feel that every time I sit down and study I learn something new and as long as that's happening, it's worth it to me. If you have specific questions related to my CMA experience thus far, I'd love to discuss!

    FAR- 85
    AUD- 84
    BEC- 86
    REG- 89

    CMA Pt 1- 420
    CMA Pt 2- 370

    #1763059 Reply
    OnmywaytoCPA
    Participant

    Each accounting certification has a different value to everyone depending on their career goals. I'm a CPA but I want to be a CFO or Controller for a Fortune 500 one day and the CMA will help with that. I know some people prefer to get the CGMA, but until around two years ago, the AICPA gave the CGMA to anyone that was a CPA for free without any testing required and a small amount of experience. Now there's a case study, but that's not nearly as extensive as the CMA Exams. Now I would never bash the CGMA but since someone was bashing the CMA certification and praising the CGMA, I have to give me honest opinion. If anyone came to interview for a job under me with a CGMA, I would not even consider that as part of my decision for whether or not I would hire them, because it can be obtained easily through the AICPA.

    AUD - 83
    BEC - 79
    FAR - 77
    REG - 90
    CMA Part 1 - 360 (Barely made it but I made it)
    CMA Part 2 - 360 (Made it by the skin of my teeth)
    #1763089 Reply
    aaronmo
    Participant

    Most of this alphabet is meaningless BS to sell to people who don't have real value, or real certification. The CPA is a license and has intrinsic value that doesn't need to be sold.

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

    #1764095 Reply
    Post
    Participant

    I think it really depends on what you want to do. Personally, I don't want to do tax or audit so the CPA doesn't seem that appealing. My previous boss really encouraged me to get the CMA over the CPA given my career path. I have been in corporate accounting for the past ten years and she said it would be very beneficial. My co-worker got her CMA and she went from Accounting Specialist to Senior Financial Analyst. I'm just now starting my CMA journey using Gleim CMA. Goodluck to everyone else out there!

    #1764316 Reply
    aaronmo
    Participant

    Respectfully, your former boss is wrong. The CPA has established worth and value. It says something about you. The CMA is not a comparable cert. The idea that they are just different focused accounting certs is false equivalency IMO.

    The what you want to do part is barely relevant IMO…the CPA is universally respected. The CMA is another made up pseudo-professional certification for a resume. The only situation where a CMA might have more value is in a situation with other CMAs hiring and fluffing their credential while pretending it has more value than it does.

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

    #1764317 Reply
    aaronmo
    Participant

    By the way…for 200/year, and $500 in training costs, you can earn my Certified in being certified certification. Proudly display ccc after your name!

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

    #1764413 Reply
    Anonymous
    Inactive

    agree with aaronmo. no need to do CMA if you have CPA.

    #1764836 Reply
    OnmywaytoCPA
    Participant

    The CPA license is the top accounting certification but to say that the others are pointless is grossly incorrect. As long as companies post positions saying “CIA required” or “CMA required”, those certifications will have meaning as well. There’s a very large corporation headquartered in my city, every job posting they have posted for any management or senior level management accounting position has stated “CPA and CMA” required. As more time goes by in private accounting, the other certifications are gaining more and more value each day. If someone chooses to stay in public accounting, the CPA is probably all they’ll ever need, but not in private accounting.

    AUD - 83
    BEC - 79
    FAR - 77
    REG - 90
    CMA Part 1 - 360 (Barely made it but I made it)
    CMA Part 2 - 360 (Made it by the skin of my teeth)
    #1764890 Reply
    aaronmo
    Participant

    Which points to the gross idiocy so abundant in “corporate culture”, where job training is conflated with academia. The CMA is a made up cert. It gives no intrinsic value…it allows nothing. It's marketing non-sense, like most “professional certifications”. It's people trying to gain prestige and respect and making their job into a profession when it's not a profession.

    The CPA is an established criteria supported by statute and tradition. A CPA is a professional. A CMA is a “I can do this!” cert that has the value some HR schlub, or business school idiot who can't read, assigns to it. It has no inherent value.

    But please, do take my Certified in being certified course. Soon I'll be offering my certified in certifying certificates certificate.

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

    #1764893 Reply
    ohiocpacma
    Participant

    (Face Palm)…..

    Do people holding CPA licenses have some sort of insecurity issues? Yes the CPA is the highest in regard. But, that doesn't mean that it's useless to pursue another certification that would help in a specialized area. Again, I hold both and I went for my CMA after holding a CPA for 4 years. Why did I do this? Because I saw the value the CMA offered in my career trajectory (I've never held a position in public accounting or tax). The CMA is focused on Cost Accounting, Managerial Accounting, and Finance. I have never really needed to use the things I studied for REG or AUD, but I can say that material from the CMA exam has been directly applicable to my duties in finance. Yes, the CPA is the best, but please refrain from discounting the value of other specialized certifications that can help grow in your career. The CMA will probably not lead to the same salary bump as a CPA, but learning those industry finance practices will hopefully put one on a path for career growth in corporate finance.

    We want to avoid any criticism of the way we administer this liberal gift. For we are taking pains to do what is right, not only in the eyes of the Lord but also in the eyes of man. 
    #1764919 Reply
    aaronmo
    Participant

    I didn't say it has no value…I said it has less intrinsic value than the CPA and that it isn't a comparable cert. I insulted the every job has a certificate aspect of corporate culture because it's ridiculous and silly.

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

    #1765288 Reply
    Anonymous
    Inactive

    so many sensitive people

    #1765955 Reply
    LedgerL0ver
    Participant

    @aaronmo- To be fair, you did say that the CMA has no intrinsic value, which is false. Especially since as @onmywaytoCPA said, there are definitely job listings for Controllers and Accounting Managers that request one, the other, or both.

    The knowledge and skills I have learned while studying for the CMA have without a doubt refined my skills as an accounting professional and taught me some concepts about budgeting, finance, and analysis I wasn't as aware of beforehand.

    The very definition of value is importance, worth, or usefulness of something. For example, I don't know how to snowboard. I have no interest in learning how to snowboard. Therefore a snowboard has no value to me. It might to you. Similarly, you feel the CPA is sufficient for you and your career path and you will glean no additional benefit in earning the CMA cert. Can we at least agree that not everyone feels the same way you do?

    I can't help but wonder why you feel the need to parade your negativity all around a thread dedicated to discussing something you are clearly not interested in. Does raining on other people's parade make you feel better about life?

    Anyway- I PASSED MY FIRST CMA EXAM! YAYYY! Now on to the final test. 🙂

    FAR- 85
    AUD- 84
    BEC- 86
    REG- 89

    CMA Pt 1- 420
    CMA Pt 2- 370

    #1765964 Reply
    aaronmo
    Participant

    “@aaronmo- To be fair, you did say that the CMA has no intrinsic value, which is false. Especially since as @onmywaytocpa said, there are definitely job listings for Controllers and Accounting Managers that request one, the other, or both.”

    It has whatever value it is assigned by a recruiter/hiring manager. That isn't intrinsic value. It doesn't have intrinsic value because it isn't a license, it doesn't provide any special privilege and it doesn't make you a professional. It's a job cert.

    I don't have anything against a CMA and don't feel one way about it or the other…but to compare it to a CPA is absurd…and valuing it like a CPA is absurd. It's a job cert meant for self promotion. It has no intrinsic value.

    If a CPA has value to you, or whatever certified human resources professional you're dealing with, God bless.

    AUD - 96
    BEC - 84
    FAR - 89
    REG - 86
    Aaron and always remember, YMMV

    I profit from your CPE frustration. You're welcome.

Viewing 15 replies - 31 through 45 (of 63 total)
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