Posts tagged: CMA Exam

Welcome CMA Guest Blogger Heather N.!

May 7, 2013, by No comments yet

 

Written By Guest Blogger Heather N.

Hello everyone! My name is Heather and I worked as an accountant for 15 years before I became a CPA. I have had jobs that didn’t require a CPA designation, but then I began teaching. I felt that I needed to become a CPA to be fully qualified to teach. Gleim software was my choice; it was the best I worked with.

When the school I teach at asked me to take over the teaching of cost accounting, I felt that taking the CMA exam was necessary. Plus, it had also been a very long time since I took cost accounting. I began researching the exam and reviews. I registered for the exam and soon decided I wanted to use Gleim. I know Gleim works because I had the best grades on my CPA while using their service. I purchased the books and began studying, but I need to do a lot more work for my CMA. I am hoping that the complete Gleim Review System will be helpful. I also like the idea of blogging because that will make me accountable. Accountability helps keep me on track. I understand that since I will be posting weekly, I will need to accomplish something and not just sit around pretending to study until the week before the exam.

I am a firm believer that educators need to have a top-notch level of education and be up to date. The CMA Review System will provide me with this. I also think my experience as a professor will play heavily into how I study and how I learn for this exam. I find that I learn from my students every day. I can also offer a perspective of the educator who is trying to relearn these topics. I feel that others can benefit from the learning style of an educator.

 

Pass the CMA Exam Video Series – Video #7 is now Available!

May 2, 2013, by No comments yet

 

Good news CMA candidates!  Video #7 in the Pass the CMA Exam Video Series is now Available!  The seventh video in this series focuses on the final review week.  If you’re wondering what to do during the last week of your exam preparation, check out this video for tips.

 

 

 

Let us know if you have any questions regarding becoming a CMA, and we’ll try to answer your questions in an upcoming video.

 

CMA – Making Good Use of Your Time

April 9, 2013, by 3 comments

I like to be prepared by having note cards and study materials with me at all times.”

Written by Guest Blogger Leslie M. for the Gleim CMA blog.

Greetings! This week I am focusing on the concept of making good use of my time. Everyone has their own unique work, school and personal schedules, with a limited amount of study time. Personally, I work full-time at a demanding job, and balance that with a busy and rewarding family life. Plenty of my scheduled activities are required and necessary, but some uses of time are optional. I have found that it helps to stop and think about which of my activities are optional. I can live without some of the mindless TV watching and Internet surfing. I have also been bringing my lunch with me to work so I can study during the lunch hour. My goal is to maximize my time without cutting into activities that are more important.

By making good use of my time, I can still enjoy life. I can get my job done and study without feeling like I am missing out on anything important. The key for me is to stay motivated and realize that making a few sacrifices will help me to pass both exams. This will be extremely rewarding and worth it in the long run. I have, however, been struggling to stay on task this past month. I am updating my CMA study plan though to include any small amount of free time so that I have more time to study, especially during evenings and weekends. I like to be prepared by having note cards and study materials with me at all times. This is another good way to use your time wisely. If you find yourself waiting on an appointment or if you have a break between activities, you can use that time to learn. Be creative and you can add a few extra hours to your study time. These hours add up over the long haul.

I hope you are all having a good study week, and I encourage you to refine your study plan and adapt to what works best for you. Cheers!

 

CMA Studying: Falling Off The Horse

March 14, 2013, by No comments yet

 

Written By Guest Blogger Ashley G.

What happens when you fall off the horse? Do you get up and try again? Do you change your approach when you get back on the horse? Do you run away in fear?

Recently,  I was selfish and took some “me” time. The advantage of everyone reading my blog entries is that they get to see everything that I go through during the CMA studying process. So, to be honest, I have been a slacker.

When people have asked me about types of study behavior, I have always said the following: studiers will pass, slackers will fail, and crammers may get lucky. So, at this point, you may wonder what I consider myself. Well, I think I am still at the point in my studying where this time off won’t affect me too much, as long as I’m diligent for the remainder this month. Any more time off from studying will make or break me though.

Now that I am back from vacation and with the busy season slowing down (my busy season is from September to February), I have altered my strategy and gotten back on the horse. So, what is the current game plan you might wonder? Good question.

My plan is simple. I plan on reading the book throughout the week. This will be done by developing a pattern for my weekdays. I finish work around 6 or 7. Then I eat dinner and take an hour for “me” time. In theory, I allocate approximately 3-4 hours of studying for myself. Any make-up is done during lunch at work. My weekends will be spent working on multiple-choice questions, reviewing flashcards made throughout the week, studying notes, etc.

Here’s to a new strategy, and HOPEFULLY a new CMA certification!

 

Figuring Out The Right Way To Study For The CMA Exam

February 21, 2013, by No comments yet

 

Written By Guest Blogger Lynn L.

It was definitely a tough week for me to study. There were so many distractions during my vacation. I have spent very little time studying for the CMA exam and was not productive at all in the past week.

All I did early this week was study Study Units 1 and 2 with the CMA review book, which I thought was enough since I did that all the time for my other classes. But the results were not good. When I tried to take the diagnostic quiz, I found that I didn’t remember most of the things I studied previously from the review book. I was pretty confident before I started studying, because I took my cost accounting class last year and I thought I would remember a great deal of it. But when I really started studying a couple days ago, I discovered that I was not even sure how to calculate cost of goods manufactured. It is frustrating to have a tough beginning like this.

I was worried, but I tried to calm down and force myself to find a better way to study. I started to think of what my personal counselor said in the email. She listed all the things I need to study in the suggested steps, which Gleim concluded from the most successful candidates. I also read the CMA Review: A System for Success, which I had previously ignored. I have to say that this book answered literally all the questions I had and even gave me a clear direction where to go from here.  So I followed the suggested steps in the book and restarted Study Unit 1 with another diagnostic quiz. I was quite confused why I needed to take a quiz before studying anything. But it makes sense to me now because it helped my to discover my weak areas from the results of the quizzes. I definitely came up with a lot of questions during the process. These questions helped me become proactive when I started studying the presentation. Even though the presentation went pretty fast, I was able to be focus and grasped most of the concepts it covered.  After a quick review of my diagnostic quiz and presentation, I easily achieved a 93% in the true/false test and finally regained my confidence.

It is hard to accept the fact that I wasted so many days trying to create my own way to study, and it did not work well. Following the Gleim suggested steps seemed unnecessary, but it really is the best and most productive way for me so far. I am behind in my schedule and need to catch up as soon as I can. With a clear direction in mind, I believe it shouldn’t be a problem. I also hope that I do not become distracted by anything in the coming week. Good luck!

Regards,

Lynn

 

Welcome CMA Blogger Leslie M.!

February 19, 2013, by No comments yet

 

My name is Leslie M. and I am a Treasury Coordinator at a large public energy corporation. I have held my current role for several years and have experience managing liquidity, credit facilities, and the cash forecast process for multiple companies. I work closely with senior management and corporate accounting to identify key drivers for sources and uses of cash. I am an experienced accounting and finance professional with expertise in general ledger, full cycle accounting, financial reporting, variance analysis, treasury, cash management, and cash forecasting. I have also held other positions utilizing accounting, budgeting, and forecasting skills. I have an MBA in Finance and a BBA in Finance.

 

 

My primary reasons for taking the CMA exam is career advancement and to improve upon my practical experiences in accounting, budgeting, and forecasting. After I completed my MBA, I had always planned to achieve and maintain a certification in the area I felt was most applicable to my career. I believe the CMA designation is the perfect blend between accounting and finance. It will allow me to not only earn a respect in my field of choice, but also allow me the opportunity to continue my education each year and stay current on relevant financial trends and accounting concepts. I feel that taking the time to study for, achieve, and maintain the CMA also demonstrates dedication and commitment, which in turn will bring about positive career opportunities and advancement. Five years after completing my MBA, I have finally decided to pursue the CMA in 2013, and I look forward to the challenge!

 

 

 

How to Make a Realistic Study Plan

February 7, 2013, by No comments yet

 

Written By Guest Blogger Lynn L.

Staying inside my room during these cold temperatures, I started thinking about what my first step will be to prepare myself for the CMA exam.  I know that now is the best time to do it, when I don’t have classes or work. I plan to sit for Part 1 of the CMA exam in January and Part 2 in late February. I have only a few weeks to study for Part 1, so I decided to make a realistic plan for these upcoming days.

Do It Yourself VS. Personal Counselor

In order to make a realistic plan, I definitely need to know some general information about the CMA exam. I asked myself a couple of questions:
1. How long does it usually take for a candidate to study and pass Part 1 of the CMA exam?
2. What are the suggested steps to study and use Gleim review?
3. Can someone help me to make a study plan based on my own situation?

I absolutely had no idea what the answers would be. I searched the Internet for the answers. But it’s hard when you try to do all the research yourself. So I started to think about who I knew who had taken and passed the exam. I immediately thought of Melissa, who previously blogged about her study experiences and successfully passed Part 1 of CMA exam not too long ago. Melissa very kindly shared her stories, gave me some very helpful tips, and told me that Gleim actually provides personal counseling services to help candidates set up study plans for exams.

I felt lucky to learn this right before I started my own plan. So I contacted my personal counselor. I told them my background and situation, and then asked them the three questions I mentioned above. They quickly responded and set up study plans and weekly goals for me based on the information I provided. My personal counselor even listed how much time I would need to study the various materials for each study unit. Honestly, without their help, I would have spent much more time just on doing research on the preparation. My personal counselor just made everything much easier. Now, with a great start, I am confident and excited that I will definitely pass Part 1 after following the steps and working hard. I am going to start my first study unit now, and I will let you know how it goes next week!

 

Gleim Pass The CMA Exam Video Series

January 31, 2013, by No comments yet

 

CMA Candidates will want to watch our Pass The CMA Exam video series as it provides study tips, success stories, and other helpful information.

 

The first two videos of the series are now available. As new videos are released, we will post them on our blog and social media pages.

 

Please leave us comments, questions, and let us know what future topics you’d like to see covered. Good luck CMA candidates!

 

 

 

 

Took Part 1 Of The CMA Exam & Passed!

January 28, 2013, by No comments yet

 

On October 20, 2012, I took Part 1 of the CMA exam.  The exam was difficult and it took me all four hours to complete.  The day after I took the exam, I emailed the IMA asking them when I should expect my results.  The IMA responded that it would take up to 45 days after the testing window closed (which was October 31).  Each day after October 31, I would go to the IMA website in the morning and the evening to see if the results were posted.  The time between taking the exam and receiving the results is never my favorite time period.  In my opinion, it’s kind of chaotic because you don’t know if you will have to re-study the part you just took or if you should move onto your next part (or be totally done if it’s your last part).  It’s a time of great uncertainty and the best thing to do is not think about it. The day or two after you take the exam (CPA, CMA, CFE, etc.), you definitely think back to questions (or essays) you struggled with and hope that was not the question (essay) that makes or breaks the exam.  It took me about a week to stop worrying about the exam and to be patient about waiting for my results.

 

On December 13, 2012, my results finally showed up on the IMA website and the only word I saw (and cared about) was the word “PASS”.  A huge weight was lifted when I saw those four letters, and I was so excited to see that all of my hard work was paying off.  I had put in about 150-160 hours of studying for Part 1 and every minute was worth it. Along with the word “PASS” there was a number score, which is called the scaled score.  My scaled score was a 460 (out of 500). I believe you can get a scaled score as low as 360 and still pass a part of the exam.  The scaled score is a little different than what the CPA or CFE exam gives you.  The CPA exam gives you a percentile number, and the CFE exam gives you a “PASS” or “FAIL” (no scores).

 

The Gleim products that I used to study with were a huge factor in my success on the exam, and I believe in all their materials.  The textbook and test prep questions were top-notch and definitely prepared me for what I would ultimately see on the exam.  I spent all of my150-160 hours studying with my Gleim materials. I went into the exam feeling confident that I could pass and that’s exactly what I did.  The only thing standing between me and the CMA certification now is Part 2.  After passing Part 1 on the first try, I’m totally ready to start studying for Part 2.  I will continue to blog as I study, and I can’t wait to keep everyone posted on my progress.

 

Kind regards,

Jason S.

 

Welcome CMA Guest Blogger Lynn L.!

January 17, 2013, by 1 comment

Written By Guest Blogger Lynn L.

Background Information

I am currently a graduate student studying for a Master of Science in Accounting at Eastern Michigan University. I also received my bachelor’s degree in Finance last year. At school, I actively participate in events and activities of different student organizations, such as Beta Alpha Psi and the Institute of Management Accountants (IMA). I have been a student member of IMA for two years. By attending IMA student chapter meetings and events at school, I discovered a world that is very different from public accounting. However, with a background in both Accounting and Finance, I personally would love to do something that will make use of my knowledge and passion in both areas. At the IMA Student Leadership Conference this year, I was very lucky to attend a CMA Survivor session. Here is where I found out that being a Certified Management Accountant is actually what I was looking for and what I want to do in the near future. By realizing that, I now believe that becoming a CMA, rather than a CPA or a CIA, will be a good fit for me.

 

Reasons for Taking the CMA Exam

After discovering my future goal, I started to take the necessary actions to realize it. Luckily, I recently received a couple of accounting and finance internship offers, from which I was able to select one that can help me achieve my career goal. I decided to intern at the finance department of a manufacturing firm this coming summer. After talking with the recruiters and friends who previously had internships at the firm, they all suggested that I take the CMA exam as soon as I can. I am approaching my graduation date and plan to start a full-time job soon after graduation. It is always better to pass the professional exams before you start a full-time job. Also, student candidates get large discounts when registering for their exam compared to working professionals. With that in mind, I plan to sit for the first part of the CMA exam in May/June of next year. Regarding the studying materials for the exams, IMA professionals strongly recommended using either their official study guide or Gleim materials. I have seen Gleim materials at the computer lab of my school. They are also recommended by my professors; therefore, I thought I should give it a try. I hope I can pass both parts of the CMA exam the first time after studying with the Gleim CMA test prep materials.