Certified Management Accountant (CMA) CPE Requirements

How to reach the regulator directly.

Institute of Certified Management Accountants
10 Paragon Drive, Suite 1
Montvale, NJ 07645-1718

Tel: 1-800-638-4427

Fax: 201-474-1600

Email: ima@imanet.org

The regulator's own published rules and related resources.

CMA / CFM Maintainance
Continuing Education Requirements and Rules

The total continuing education hours required.

30 hours.

The detailed rules behind that total -- category minimums, ethics, and other conditions.

A broad range of subjects may be included in the programs for which hours of credit will be given. The subjects should be related to the topics covered on ICMA's examinations and/or to an individual's job responsibilities. Examples of the subjects that may qualify are: all aspects of accounting, financial management, business applications of mathematics and statistics, computer science, economics, management, production, marketing, business law, and organizational behavior.

Effective January 1, 2006: All CMAs and exam completers are required to complete a minimum of 2 hours of continuing education on the subject of ethics as part of their 30-hour annual CPE requirement.

Ethics: IMA's Statement of Ethical Professional Practice is an excellent framework for determining the types of ethics topics that are acceptable. The focus of the ethics education should be principally in the area of management accounting and financial management. Topics should include ethical considerations in the area of decision support, planning, and control for accounting and finance professionals working inside organizations. ICMA encourages members to use education sources that address specific scenarios such as fraud in financial reporting, manipulation of budgets for personal gain, and disclosure of confidential financial information. Also acceptable is coverage of ethics within the general business environment. The responsibility of determining that a program qualifies is given to those who must meet this requirement. However, in case of doubt, the Institute will rule in advance on whether a specific program or activity will qualify for hours of credit. (When requiring such a ruling, a copy of the program or other data describing the activity must be submitted.)

How the reporting cycle is structured.

Annual.

When a reporting cycle begins.

January 1.

How completed credits are reported to the regulator.

Credits earned at IMA seminars are automatically reported on a member's billing statement.

Outside providers are not included in this reporting. The documentation does not have to be submitted, but should be retained by the member as IMA randomly verifies this information.

Since CPE hours reported are verified on a random basis, you should keep CPE certificates and other supporting documents for a minimum of two years.

The renewal or reporting deadline.

Varies, but is based on the date of membership renewal.

→ Get monthly reminders before this deadline

What happens if the requirement is not met.

In the event that the required hours of CE are not completed, the CMA/CFM becomes delinquent and inactive. An inactive CMA/CFM is not considered a CMA/CFM until the delinquency is removed, and cannot use the CMA/CFM designation.

To return to good standing, at least 60 cumulative hours of acceptable continuing education must be reported by the end of the next calendar year (30 hours for the current year plus any shortfall from the previous year). If a certified member is short in a given year, the difference may be made up in the following year, i.e., if 25 hours are completed in a given year, 35 must be done the next year. This is a two-year opportunity and cannot be carried into a third year.

If the shortfall is not made up in the next calendar year, a return to active status will require 60 hours of continuing education to be completed in one calendar year in order to return to active status.

Reduced or prorated requirements for a first renewal.

The reporting period begins on January 1 following notification of successful completion of the examination. The period between notification of successful completion and the following January 1 is a grace period. CE is not required during this period, but any CE earned during this period can be counted as being earned in the first reporting period.

If you have completed the CMA exam but have not yet been awarded the certificate, you are required to meet the continuing education requirements and maintain membership in the IMA. Certificates will be awarded when the experience requirement is satisfied. At that time continuing education and IMA membership must be current.

Who may be excused from all or part of this requirement.

Retired Status:

A CMA/CFM who is over 55 years of age and retired from the profession of management accounting/financial management is exempt from the CPE requirements. If you are eligible for retired status, please contact the ICMA so that they can change your record.

Hardship/Waivers:

The ICMA permits a CMA/CFM to waive the annual CPE requirement in special circumstances, such as:

• Military service
• Serious illness or disability
• Severe financial hardship

Waivers are considered by staff on a case-by-case basis. The request should be sent to the ICMA accompanied by appropriate documentation. Being too busy at work, changing a job, or temporary employment are not considered special circumstances and will not be approved.

Whether unused credits can apply to the next period.

When a certified member (CMA/CFM) completes more than 30 credits in a given year, up to 10 credits may be carried forward to the next year (i.e., if 38 credits are completed, 8 may be carried forward; if 45 credits are completed, only 10 credits may be carried forward).

If more than 2 hours of Ethics are earned in a given year, up to 2 hours can be carried forward to the following year.

• NOTE: June 20, 2011: CeriFi CPEdge has confirmed with the Institute that more than 2 hours of extra Ethics may be carried over, but only the first 2 carried-over hours may then be used as Ethics. Hours of Ethics beyond the first two carried over will not count as Ethics, but rather as general hours.

→ CE Tracking calculates carryover for you

Rule changes the regulator has finalized, with effective dates.

Refer to the specific sections above for more details on any of the items noted below.

Breakdown of Specific Requirements:

Effective January 1, 2006: All CMAs and CFMs will be required to complete a minimum of 2 hours of continuing education on the subject of ethics as part of their 30-hour annual CPE requirement.