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  Distinction Programs (if qualified)

The FMA National Honor Society

The FMA National Honor Society recognizes scholastic achievement through induction of students who have demonstrated superior scholarship. Individuals accepted for membership in the Honor Society have the distinction of belonging to the ONLY international honorary which specifically recognizes the achievement of finance majors and demonstrates their expertise in areas such as financial economics and decision making.

The mininum qualifications for Honor Society induction are:

Undergraduate Students

  • 3.25 Overall GPA
or
  • 3.25 GPA in finance and finance-related coursework
and
  • Completion of six (6) hours of finance and/or finance-related coursework

Graduate (MBA) Students

  • 3.50 Overall GPA
or
  • 3.50 GPA in finance and finance-related coursework
and
  • Completion of one-half of required coursework
Please Note: Individual chapters are free to increase the minimum standards for Honor Society induction.


The FMA Collegiate Fellows Program

Scholarship is not the only indicator of leadership potential and predictor of success in the profession. The FMA Collegiate Fellows Program provides student members with a means of providing concrete evidence of their non-academic achievement to their peers and potential employers.

Certified in Financial Management (CFM) Designation

The Designation
Program Objectives
Requirements
Designation Retention
Examination Content
Fees for FMA Student (Undergraduate and Masters' Level) Members
Fees for FMA Professional Members
Scholarship Application (for undergraduate and Masters' Level student members) (PDF file)
FMA-IMA Alliance
For More Information


FMA-IMA Alliance

FMA and the Institute of Management Accountants (IMA) have allied to support and promote the new Certified in Financial Management (CFM) designation.

The Certification, launched in 1996, has been recognized by both organizations as the premier designation in the field of Financial Management.

In order to support the growth of a broad-based FMA familiarity with the CFM, IMA is pleased to offer the following certification benefit to all members of FMA.


FMA Student Members

Student (undergraduate and Masters' Level) members are exempt from the $50 registration fee. Members may take each part of the examination one time at a 50% discount; re-takes are full price. There is no IMA membership requirement until all four parts of the CFM exam have been successfully completed.

IMA and FMA have developed a student scholarship program that includes fee waivers for students meeting specified levels of scholastic achievement. The scholarship application can be downloaded (in PDF version) here


FMA Finance Academic Members

Professional members are required to pay the $50 registration fee. Members may take each part of the examination one time at no charge; re-takes are discounted 50%. There is no IMA membership requirement until all four parts of the CFM exam have been successfully completed.


The Designation

The CFM program has been designed to recognize the unique qualifications and expertise of those professionals engaged in financial management. The certification provides distinction in today's economic climate and afford the opportunity to certify expertise in the business areas that are critical to the decision-making process.


CFM Program Objectives

  • To establish financial management as recognized professional by identifying the role of the professional, the underlying body of knowledge, and a course of study by which such knowledge is acquired
  • To encourage higher educational standards in the financial management field
  • To establish an objective measure of an individual's knowledge and competence in the field of financial management
  • To encourage continued professional development

Requirements

  • File an Application for Admission with the ICMA and register for the CFM examination
  • Pass all four parts of the @ examination within a three-year period
  • Satisfy the experience requirement
  • Comply with the Standards of Ethical Conduct
  • Be a member of the Institute of Management Accountants (IMA) (This requirement is waived for current FMA members until after all four parts have been successfully completed)

Designation Retention

Once the Certification has been awarded, the CFM must meet the following to retain the Certificate in good standing:

  • Satisfy the continuing education requirement
  • Comply with the Standards of Ethical Conduct
  • Maintain membership in the IMA

Examination Content

Part One - Economics, Finance and Management

  • Microeconomics (10% - 15%)
  • Macroeconomics (10% - 15%)
  • International Business Environment (10% - 15%)
  • Domestic Institutional Environment of Business (10% - 15%)
  • Working Capital Policy and Management (10% - 15%)
  • Long-Term Finance and Capital Structure (10% - 15%)
  • Organizational Structures, Management and Communication (20% - 30%)
Part Two - Corporate Financial Management

  • Use of Financial Statements (10% - 20%)
  • Advanced Topics in Corporate Financial Management (50% - 70%)
  • Risk Management (10% - 15%)
  • External Financial Environment (10% - 20%)
  • Accounting Standard Setting Environment (5% - 10%)
Part Three - Management Reporting, Analysis and Behavioral Issues

  • Cost Measurement (20% - 30%)
  • Planning (20% - 30%)
  • Control and Performance Evaluation (20% - 30%)
  • Behavioral Issues (20% - 30%)
Part Four - Decision Analysis and Information Systems

  • Decision Theory and Operational Decision Analysis (20% - 30%)
  • Investment Decision Analysis (20% - 30%)
  • Information Systems (10% - 15%)
  • Management Controls (10% - 15%)

For more infomation, contact the ICMA through:
www.imanet.org

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