CMA Exam is Tough – Just took Part 1 Today - Page 4

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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 - 46 through 60 (of 63 total)
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  • #1765991 Reply
    LedgerL0ver
    Participant

    You can actually compare whatever you feel like comparing.

    Correct me if I'm wrong, but no one in here is implying that the CMA is better than the CPA or that it's even on the same level, yet I feel you're on the defensive as if they were.

    All certs and licenses are meant for self promotion and career advancement. That's why we get them.

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

    CMA Pt 1- 420
    CMA Pt 2- 370

    #1770364 Reply
    OnmywaytoCPA
    Participant

    @Ledgerl0ver – Congratulations on passing CMA Part 1! You did great! I barely passed Part 1. I plan to start studying for CMA Part 2 on Monday. Hopefully, I can take Part 2 by for June 30th. When do you plan to take Part 2?

    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)
    #1899765 Reply
    kbb1624
    Participant

    Did anyone else have issues finishing the CMA exams? I personally had a lot difficulty managing my time for Part 2. I had no time to proofread any of the essays and finished the last essay as time expired. I felt like time management was the biggest obstacle for the Part 2 exam.

    FAR – 3/9/17 – Passed 1st try
    REG – 4/18/17 – Passed 1st try
    BEC – 5/27/17 – Passed 1st try
    AUD – 9/9/17 – Passed 1st try

    CFA L1 – 12/2/17 – Passed 1st try

    CMA Part 2 – 6/15/18 – TBD
    CMA Part 1 – 6/29/18 – TBD

    #1912156 Reply
    Anonymous
    Inactive

    @ledgerl0ver i've started on part 2 and i agree with you, this is wayyy more difficult for me than part one. I have the same opinion as you do with the finance related material. i am struggling a lot on these Gleim practice quiz bank questions. have you taken part 2? how did the exam go vs what is provided on Gleim test bank?

    #1913857 Reply
    Anonymous
    Inactive

    Crazyleon,

    My Mentor puts his titles in this order CMA,MBA,CPA. He said he has met alot of dumb CPA's but never any dumb CMA's. He works 9-5 as a Operations Controller is 26 years old making 150k. He told me specifically the CMA is a certificate known around the world by INTERNATIONAL companies while the CPA is a license and really only recognized here in the US.

    #1914988 Reply
    Fk
    Participant

    @Ali, It is a premature statements made by your Mentor. He may have met some CPA dumb but my take on it, is that, it all depend upon person to person , his /her education background , surrounding environment , how much practical experience and exposure they gets in their work . Secondly , CPA Qualification is more recognized Internationally then CMA . All major company” s prefer CPA then CMA . I don't know on what basis he came to the conclusion that CMA is more recognized internationally then CPA .

    Fk
    #1916890 Reply
    Anonymous
    Inactive

    FK,

    THE CPA IS A LICENSE THAT IS GIVEN TO YOU BY EACH STATE THAT IS FOCUSED ON GAAP AND NOT SO MUCH ON IFRS ETC. THE CMA focuses more on that and recognized internationally since it is a certificate not something that has different criteria to obtain it state to state.

    The main differences between a CPA and CMA is that a CMA has mix expertise in financial accounting and strategic management. This certification essentially expands on financial accounting by adding management skills which enable CMAs to make strategic business decisions based on financial information. CPAs perform/sign audits and are involved in lots of tax work, especially representing companies during IRS audits. Make sure you know what you'd like to do in your career since both designations lead to different industry roles.

    You tell me reading the above what a private industry company values more….

    #1917208 Reply
    ohiocpacma
    Participant

    Ali,

    I'd guess that you are light on experience and I'm sure your opinion will change once you meet more financial leaders that do not have CMA after their name. Having the CMA certification does not give you expertise in strategy and financial management. That comes with experience. Also, arguing on an accounting board about rankings in accounting certifications is dumb.

    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. 
    #1917283 Reply
    Anonymous
    Inactive

    Hi,
    How am I light on experience?…. Do you know what the certificate stands for? Certified MANAGEMENT Accountant. I know there are financial leaders our there without both certificates. But I am just letting you know from my viewpoint with people that have an MBA,CPA, and CMA. Oh and by the way that definition is straight from roger CPA review and the ima :). So don't argue with me, go argue with them.

    #1917406 Reply
    Fk
    Participant

    @Ali , I know the CMA material in and out , CMA only covers difference between IFRS and GAAP . External Financial Reporting is not that extensively covered as compared to FAR in CPA exam . Some topic in External Financial Reporting is totally excluded or if included it covers only an overview which makes a difficult task to understand the difference between US GAAP and IFRS . Most of the Private Companies prefer CPA's over CMA's in Middle East . For this very reason I decided to do CPA . CMA did not add any value to my CV , nor to my colleagues.

    CPA – Licensed ND 2018
    CMA 2011
    MBA 2010

    Fk
    #1931875 Reply
    Neek
    Participant

    Hello all! I want to start studying for the CMA exam but am unsure if I have time to take it during the October window. I have not started studying yet and will be working full time in two weeks. For those who have taken it, how long did it take you to study for part 1 and how many hours were you studying per week? Also, for those who have taken the CPA exam, would you say the CMA has more material than BEC but less than FAR? That’s vibe I’m getting. Any help would be much appreciated! Thanks!

    #1933342 Reply
    AsianNinja
    Participant

    I have been studying for part 1 CMA and planning to take it in Sep. However, when I schedule my exam with Prometric, it said the id number is not eligible and I can't continue to process the appointment. I contacted the IMA dn they gave me a new id number and the same thing happened. Does anyone run into the same problem? If so, how to fix it? Thanks.

    #1935913 Reply
    OnmywaytoCPA
    Participant

    @Neek, you will need around the same amount of time that you invested into the CPA exam. It's definitely more material than BEC and probably about the same as FAR if not more. I made the mistake of underestimating the CMA Exam. I barely passed Part 1 with a 360 and I missed Part 2 by 10 points. I'm planning to retake Part 2 this testing window and I will definitely be devoting more time into studying.

    @AsianNinja, you have to delete the zeros in front of the ID#. Prometric has given me the same error on numerous occasions. Just input all of the numbers after the zeros.

    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)
    #1975491 Reply
    Jdrgolfer1
    Participant

    @crazyleon I'm surprised with the talk down on people with MBA's after looking at your CPA exam scores. Kind of embarrassing, maybe it's time to look in the mirror before critiquing others. CMA is relevant mainly for non-public accounting. CPA is worthless if you can't pass it…

    #2001905 Reply
    jcornelio116
    Participant

    Ohiocpacma,
    What did you think of CPE University

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