10 Reasons Why Starting CMA Exam Prep Early is Beneficial

05^th
Sep

A CMA (Certified Management Accountant) certification in the resume can give a boost to your career if you are working or aspiring to work in the accounting or financial industry. As industry trends are changing quite rapidly, this certification helps you to stay ahead in the game of hiring. Moreover, completing the CMA course will open multiple doors to career options as well as leverage your career potential. While many individuals earn this certification after completing their college education, starting your CMA exam preparation early has several advantages and increases your chances of success.

What is CMA?

Certified Management Accountant is an advanced professional certification issued by the Institute of Management Accountants (IMA). The globally recognized CMA designation is much sought-after, demonstrating the high demand for certified professionals in management accounting. As per IMA’s 2021 Global Salary Survey, 79% of individuals with the certification have reported their careers have exponentially improved. This is because they are equipped with better skill sets and knowledge, making them stand apart. 

If you are aspiring to be a CMA, you need to be well-prepared for the exam. CMA preparations can be done in both online and offline mode. As CMA is a demanding examination, candidates are examined on four principles;  business analysis, accounting and reporting, strategic management, and decision-making. In addition, for CMA preparation, you should focus on four key aspects: financial reporting, strategy, regulatory framework and management.

Benefits of starting CMA preparation early

Pursuing CMA certification offers career flexibility for those specializing in this field. Hence starting early can offer several advantages and increase your chances of success. Here are some key reasons why you should begin your CMA exam preparation well in advance. 

1. More time to focus on your career: 

Completing the CMA Exam before graduation will give you the freedom to concentrate on your career without the added pressure of exam preparation or post-graduation. Besides, having the CMA certification along with a bachelor’s degree will help you land jobs in the top companies across the globe immediately upon graduation.

2. Demonstrates commitment: 

Early preparations to become a CMA while pursuing graduation show a strong commitment towards your career as well as professional development. This further implies that you are proactive and willing to invest time and effort in acquiring a valuable certification.

3. Competitive Advantage: 

Having a CMA in progress or completed can provide you an advantage in a competitive job market as you will already be armed with the requisite skills and information. This will give you a competitive edge over candidates who haven't begun CMA Exam preparations, making you a more appealing choice for prospective employers. 

4. Fresh Content: 

Early preparations enable you to remember important topics in the CMA study materials. The earlier you start preparing, the more time you get for review and practice. This will increase your retention and understanding of complex topics. Hence, you will build a solid foundation that ultimately boosts your confidence and performance when you sit for the exam.

5. Better Mentoring: 

College offers a more accessible mentorship environment compared to the professional world, where your future boss may not provide the same support. In college, peers and those who have recently navigated similar experiences are of great assistance, giving you a valuable head start in your CMA journey.

6. Boosts Career Advancement: 

Securing a CMA certification early in your career can accelerate your progress within a company. It positions you for roles like financial analyst, management accountant, or financial manager sooner than if you pursued certification later. This can lead to increased responsibilities, higher salaries, and a more sharper career trajectory.

7. Networking Opportunities: 

During your CMA preparation, networking with fellow certification aspirants can be immensely beneficial. It creates opportunities for valuable connections, potential mentors, and even future job prospects. Building a professional network within the CMA community enhances your career prospects by providing access to knowledge, support, and potential collaboration in your field.

8. Global Opportunities: 

The global recognition of CMA underscores the necessity of choosing a reputable institute for comprehensive preparation. Holding a certification in CMA creates a significant weight in international job applications. Therefore, it is always beneficial to embark on this certification journey early on to enhance career prospects on a global scale.

9. Reduced Stress: 

Early preparations for the CMA course mitigate the anxiety related to last-minute cramming. A well-paced study approach fosters confidence and elevates performance by allowing you to delve deeply into the material. This proactive strategy ensures a comprehensive grasp of the syllabus, leaving no room for rushed, stressful preparations. With early preparations, you have the benefit of ample time on your side. 

10. College Advantage: 

Preparing for CMA during college is advantageous because it eliminates the need to juggle work and study, reducing stress. This allows for more effective and focused study sessions, as the college provides ample time and fewer distractions compared to office life.

How can you study effectively? 

The CMA is a two-part exam covering 12 competencies. Part 1 of this examination focuses on Planning, Performance, and Analytics while Part 2 has Strategic Financial Management. Ideally, IMA suggests a total of 300 study hours, allotting 150 hours for each part. However, these hours can differ for different candidates. 

It is recommended to create a manageable study plan for CMA preparation, ensuring syllabus completion within the stipulated time. Besides getting hold of the right and latest CMA study materials or review courses is essential to reduce study time and preparation stress. 

In conclusion, initiating CMA exam preparation well in advance is a strategic choice with far-reaching benefits. Early preparation provides ample time to comprehensively cover the syllabus, reduces stress, enhances retention and allows for the identification and rectification of weak areas. 

Further, it offers the flexibility to create a structured study plan, engage with a supportive network, and ultimately, position you for success. Therefore, starting early for the CMA exam not only boosts passing odds but also gives a career edge, making it a wise investment in the future.

Message from the Author

If you’re looking to enrol yourself in the CMA training in Dubai, get in touch with Learners Point Academy. To learn more, visit the website: https://learnerspoint.org/, give a call at +971 (04) 403 8000, or simply drop a message on WhatsApp.

Learners Point Academy is a KHDA and ISO 9001:2015 accredited training institute in Dubai.

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