It’s true: the Certified Management Accountant (CMA) Course costs ₱110,000, or about one-fifth of the price of a new compact car in 2023.
Here’s why it’s worth investing in.
While buying a car can be a smart call, a CMA credential is more valuable than one, in that it will increase your competence, confidence, and career advancement opportunities.
Unlike a car, your CMA credential will not depreciate. As an experienced accountant, you know that your brand-new vehicle will lose about one-fifth of its original value within the first year. No matter how much you spend maintaining it, your car’s value will keep dropping as your mileage goes up and wear and tear take their toll.
A CMA credential, on the other hand, will get more valuable as you apply what you’ve learned to your workplace or business—and as the doors to more career opportunities open for you.
Joey Anne Altes was a junior accountant for an Australian firm when she began the CMA Program in June 2022. Even before she completed the program and passed the CMA Exam, she saw plenty of value in it.
“The people I spent the year with while studying for the exam are what I liked most about the program. These individuals, along with my engaging and encouraging instructor and other reviewees who weren’t afraid to ask questions, made me realize that there are a lot of different ways to comprehend and resolve a challenge.”
“I do believe my communication skills have improved. For me, the essay part (of the CMA Exam) is a battlefield, which is why I spent a lot of time improving my communication abilities. For CMAs, communicating results is very important.”
Mastery will move you forward
A CMA course will take you beyond where a car can go. In its 2021 Global Salary Survey, the Institute of Management Accountants (IMA) found that the median salary among CMAs was 58% more than those of non-certified practitioners.
You don’t have to be a CMA or a Certified Public Accountant (CPA) to work with international clients while based in the Philippines.
But having these internationally recognized credentials equips you with the skills for a wider range of roles, including:
- Financial Analysts
- Accounting Managers
- Financial Risk Managers
- Controllers
- Chief Financial Officers
“Holding the CMA certification signals to current or prospective employers that a person has mastery of a skill set designed to help a company continue to succeed and improve,” the IMA explained.
Lifelong learners are always in demand
The ability to buy a new car may signal that you “have arrived”. But a CMA will send the clear message that you’re someone who keeps learning, and that’s a quality that will always be in demand.
Sitting for the CMA Exam was not easy, Joey Anne recalled.
“You need to sacrifice a few things to give yourself time to review. It was stressful, and the pressure was through the roof, but for me, those challenges are what made it worth it in the end.”
Soon after passing the CMA Exam in April 2023, Joey Ann said she was looking forward to enrolling in other accounting courses.
For CMAs, learning is a constant activity. You will be required to take at least 30 continuing professional education (CPD) hours a year, with at least two hours on professional ethics, to maintain your certification.
The expertise you’ll gain in financial planning, analysis, control, decision-making, and professional ethics will be a great springboard for your success.
But the real value of the CMA course rests on how it inspires you to keep on learning. And that’s what will keep you competent, credible, and confident, no matter how much the industry changes.
“Take the time to learn and focus on concepts and ideas,” Joey Ann advised.
“There is no need to memorize the pattern of problem-solving because if you know the concept, it will be easy to solve any problems. Read, answer questions, and watch the videos provided for one to two hours a day.”
She completed the CMA Program with the Ab² Institute of Accounting, an education provider that has helped more than 4,000 individuals equip themselves with essential accounting and bookkeeping skills.
How to power through your CMA certification
Once you begin the CMA course, you will need 12 to 36 months to complete it. How fast you’ll go is entirely up to you. When it comes to your career, you’re in the driver’s seat.
You can continue to work part- or full-time while pursuing your CMA credential. And whenever it feels challenging, remember:
- You’ll soon reap the benefits of an expanded skill set and career prospects.
- You’ll have plenty of resources to help you, from IMA study guides to your fellow learners in the Ab² Institute of Accounting.
- You’re on your way to more important and more rewarding roles.
“I felt the support from Ab² Institute of Accounting early on, even before we started the review,” said Joey Anne. “The support team was responsive to every query and request I had. During the review, scheduling for the exam, and even after I passed, it was still the same level of generosity.”
