You're considering earning a CGMA certification. How can it help you achieve your career goals?

1 What is a CGMA certification?

A CGMA certification is a global designation that recognizes your skills and experience in management accounting. To earn it, you need to have at least three years of relevant work experience and pass two exams: the CIMA Certificate in Business Accounting and the CGMA Strategic Case Study Exam. The CIMA Certificate covers the fundamentals of accounting, economics, ethics, and business management. The CGMA Strategic Case Study Exam tests your ability to apply your knowledge and judgment to a realistic business scenario.

2 What are the benefits of a CGMA certification?

Gaining a CGMA certification can provide recognition, credibility, and greater opportunities in your accounting career. Showcasing your value to employers and clients by demonstrating your management accounting competence is increasingly important in today's complex business environment. Additionally, you can access a network of over 150,000 CGMA holders and 650,000 CIMA members and students worldwide for support and guidance. You can also benefit from a range of resources, tools, and courses from CIMA and the Association of International Certified Professional Accountants (AICPA). Furthermore, advancing to senior or leadership roles in accounting or finance, or branching out to other areas such as consulting, entrepreneurship, or education can increase your earning potential and career satisfaction.

3 How can you prepare for a CGMA certification?

In order to prepare for a CGMA certification, it is important to plan your study schedule, choose your study method, and practice your exam skills. To start, you should consider your availability, learning style, and exam dates when planning your study schedule; the exam dates and deadlines can be found on the CIMA website. Aim to study for at least 10-15 hours per week for each exam. Additionally, select a study method based on your preferences, budget, and needs; self-study, online courses, or classroom courses are some options available on the CIMA website or from other providers. Finally, practice your exam skills by doing mock exams, past papers, and case studies; these resources can be found on the CIMA website or from other sources. It is also beneficial to review the exam syllabus, format, and rules to familiarize yourself with the expectations and requirements.

4 How can you maintain your CGMA certification?

Maintaining your CGMA certification requires complying with the ethical and professional standards of CIMA and AICPA, as well as completing at least 120 hours of continuing professional development (CPD) every three years. CPD is the process of updating your skills and knowledge to keep up with changes in your field. You can earn CPD hours by taking courses, webinars, or workshops related to management accounting or other relevant topics, attending conferences, seminars, or events organized by CIMA, AICPA, or other professional bodies, reading books, journals, or articles that enhance your learning and understanding of management accounting or other relevant topics, participating in mentoring, coaching, or volunteering activities that involve sharing your skills and knowledge with others, and undertaking research, writing, or publishing projects that contribute to the advancement of management accounting or other relevant topics.

5 How can you apply for a CGMA certification?

To apply for a CGMA certification, you must register as a CIMA student, complete the CIMA Certificate in Business Accounting and the CGMA Strategic Case Study Exam, and submit your work experience verification. The registration process requires you to pay a fee on the CIMA website to receive a CIMA contact ID and password to access online services and resources. The CIMA Certificate in Business Accounting consists of four exams: BA1 Fundamentals of Business Economics, BA2 Fundamentals of Management Accounting, BA3 Fundamentals of Financial Accounting, and BA4 Fundamentals of Ethics, Corporate Governance and Business Law. You can book and take these exams online anytime throughout the year. The CGMA Strategic Case Study Exam is a three-hour assessment that tests your management accounting skills and knowledge applied to real-world business scenarios. This exam is available online four times a year in February, May, August, and November. Lastly, you must submit your work experience verification document to confirm that you have at least three years of relevant work experience in management accounting or related fields. This document can be submitted online through the CIMA website or by emailing the CIMA contact center.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?