The Advantages of a Student Taking the CMA Exams Prior to Graduation
The Certified Management Accountant (CMA) is an accounting program intended to provide individuals in the accounting field with the broadened professional skills in the managerial accounting arena. The CMA exams are issued in most countries throughout the world. The exams employ a unique combination of pecuniary proficiency, tactical acumen, creative and critical thinking, as well as unified approach to help promote successful businesses all over the world. Management accountants across the world argue that the exam improves their competency through guided management accounting procedures that the course provides.
While the CMA exams can be taken by practising accountants with finance degrees from all accredited universities around the world, undergraduate students could also take these exams before their graduation. However, many professionals argue that students taking these exams prior to their graduation are better off than taking the exams when already in employment. This paper will attempt to establish some of those advantages that undergraduate students are supposed to review before they dismiss this idea.
While the idea of completing the CMA exam prior to graduation is very daunting, students stand to benefit from this investment soon after they graduate from their respective universities. The qualifications required to become a member of the institute of management accountants after graduation is that an individual must hold a bachelor’s degree in any field of study as well as two years full time or four years part time experience in management accounting or financial management. As compared to these steep requirements needed for an individual that has already graduated, an undergraduate students only need to ensure that they registered at least six credits per semester. This shows that completing the CMA exams before graduation is a valuable investment that will save them a lot of time during their career.
The intense revision of related material while taking the CMA exams while still in the university improves the students testing skills in both their school and CMA exams. Notably, most professors and class instructors have gone on record stating that the students that take the CMA exams while still in school post better results compared to students who do not. This might be attributed to the fact that most students have organized their exam taking schedules to concede with units that relate with their exams. This gives them an easier time while studying for their exams. They also stand a better chance of passing the CMA exams compared to the employed professionals that have stayed a long time from school, and their exam taking skills have become rusty.
Notably, the students who complete their CMA exams prior to graduation stand a better chance of getting meaningful employment compared to graduate who look for jobs in the accounting industry with only their degree certificate. Research indicated that clients often demand professionals who have completed the CMA exams as they feel that they are better equipped to deal with issues in the accounting world. Do these graduates not only stand a better chance of getting employment, but also receive better remunerations compared to other finance students without the CMA certificated. Research conducted in 2010 indicated that the average pay of an employee accountant having completed the CMA exams was $105,000 per while those without the CMA grossed about $85,000.
Overall, though taking the CMA exams while still in school requires sacrifice and dedication, the investment will pay in times fold after the student graduates from school. The student can distinguish themselves from the rest of the graduates as well as give them an energized perspective of their accounting career. However, students should note that taking these exams should be taken with utmost seriousness and should not compromise student participation in the university programs.
