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Hargadon, J. M. and L. R. Fuller. 2010. Take less - and earn more. Strategic Finance (March): 47-53.

Summary by James R. Martin, Ph.D., CMA
Professor Emeritus, University of South Florida

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According to Hargadon and Fuller, undergraduate accounting students can obtain the CMA designation before graduation and the CPA designation within six months after graduation using the steps outlined below. The authors recognize that this is an extremely ambitious plan that may not appeal to all accounting majors.

Hargadon/Fuller Plan for Obtaining the CMA and CPA Designations*
Time Period Action
1 Junior year: September-May Complete intermediate accounting, corporate finance, operations management and a finance elective
2 Junior year: May-June Study for Part 2 of the CMA exam using CMA program materials
3 End of May-June period Take Part 2 of the CMA exam
4 Senior year: September-December Compete cost/advanced managerial accounting, undergraduate business capstone course and/or a case course in finance, first tax course, and auditing course and begin study for Part 1 of the CMA exam using CMA program materials
5 Senior year: Winter break Study for Part 1 of the CMA exam using CMA program materials
6 Senior year: January-May Take Part 1 of the CMA exam
7 Senior year: January-May Complete tax courses, business law, and advanced accounting
8 Senior year: May Graduate
9 After graduation: June-August Use CPA program materials to study for the Business Environment and Concepts, and Regulation Parts of the CPA exam
10 After graduation: July-August Take the Business Environment and Concepts, and Regulation Parts of the CPA exam
11 After graduation: October-November Use CPA program materials to study for the Auditing and Attestation, and Financial Accounting and Reporting Parts of the CPA exam
12 After graduation: Late November Take the Auditing and Attestation, and Financial Accounting and Reporting Parts of the CPA exam

* Adapted from Hargadon and Fuller's Table 2, page 52.

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Brausch, J. M. and D. Whitney. 2009. CMA: The quest for increasing value. Strategic Finance (December): 9-10, 12. (Summary).

Krippel, G. L. and S. Mitchell. 2011. What's your CMA worth? We show you how to estimate the lifetime value of the certification. Strategic Finance (November): 41-47. (Note).

Schiffel, L., K. A. Smith and D. L. Schroeder. 2011. IMA 2010 salary survey: How's that recovery workin' for you? Strategic Finance (June): 26-46. (Summary).

VanZante, N. R. 2010. IMA's professional certification program has changed. Management Accounting Quarterly (Summer): 48-51. (Summary).