The Certified in Strategy and Competitive Analysis (CSCA) credential from the Institute of Management Accountants (IMA) is designed to validate expertise in strategic planning and analysis. It is meant for the accounting professionals who want to put their footprints on the future strategic leadership domain in the management accounting arena. Here is a breakdown of the key aspects:
Eligibility
To be eligible for the CSCA certification, you need to either:
Option 1: A Bachelor’s Degree and Experience:
Hold a bachelor’s degree (in any field) from an accredited college/university and have two consecutive years of professional business experience.
Option 2: Qualifying Accounting or Finance Certification:
Hold one of the following qualifications: ACCA, CA, CFA, CIA, CMA US, CMA India, CPA, or any other recognized accounting or finance certification. You can check the IMA’s official list of approved certifications.
Additional Requirements:
IMA Membership: You must be an active member of the IMA (Institute of Management Accountants).
Ethical Compliance: You must comply with the IMA’s Statement of Ethical Professional Practice.
Exception for Professionals: Professionals without the above-mentioned qualifications but with a proven track record of experience and expertise may be considered eligible upon review and approval by IMA USA.
Exam
The CSCA exam covers three main areas:
Strategic Analysis:
Includes topics such as external environment analysis, industry and competitive analysis, and internal environment analysis.
Creating Competitive Advantage:
Covers strategic formulation, strategy implementation, and strategic risk management.
Implementation and Performance Evaluation:
Focuses on strategic performance management, governance, and strategy implementation evaluation.
CSCA Exam Syllabus in Detail:
Strategic Analysis (25% – Levels A, B, and C)
The strategic planning process
Environmental scan and competitive analysis
Internal analysis
Creating Competitive Advantage (40% – Levels A, B, and C)
What is competitive advantage?
Strategy in a global context
Business level strategies
Corporate level strategies
Functional level strategies
Sustaining competitive advantage
Strategy Implementation and Performance Evaluation (35% – Levels A, B, and C)
Analysing strategic alternatives
Risk management
Strategy implementation
Strategy measurement and organizational performance
Governance, social responsibility, and ethics
CSCA Exam Details:
Format: Multiple-choice questions and essays. 60 multiple-choice questions (MCQs) – 70% of the exam score
Case study – 30% of the exam score.
Duration: 3 hours.
Delivery: Computer-based testing at Prometric centres.
Frequency: Offered three times a year (March, July, and November).
CSCA Exam Scoring:
Passing Score: Typically, the passing score is around 70%. Scoring for the CSCA exam is on a scaled basis, ranging from 0 to 400. Candidates must attain a minimum score of 280.
Score Reporting: Scores are usually reported within six to eight weeks of taking the exam.
CSCA Exam Preparation:
Candidates have two years to pass the exam after they enter the CSCA program.
It takes 40 to 75 hours of study, depending on the candidate’s knowledge and experience and dedication.
CSCA Exam Fees:
CSCA Exam Registration: $600
Benefits of CSCA:
Enhanced Strategic Skills:
Deepens your knowledge and skills in strategy and competitive analysis.
Career Advancement:
Demonstrates your commitment to professional development and strategic expertise, potentially leading to career advancement opportunities.
Professional Recognition:
Adds a valuable credential to your professional portfolio, recognized globally.
Networking Opportunities:
Provides access to a network of professionals and resources through the IMA.
Increased Earning Potential:
Potentially leads to higher earning potential due to the specialized skills and knowledge gained.
Summary:
CSCA is a unique top-notch management accounting certification from IMA meant for the entry level and seasoned accounting professionals who wants to be a future leader in making strategic management accounting decisions as a CFO. Uplift Professionals, the premier coaching academy in association with Hock International provides a complete solution to achieve your CSCA credential in a much affordable manner. So, why delay? Get set go to uplift your career by acquiring this coveted CSCA certification at ease.
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