Switching from CMA USA to ACCA? You are not alone.
Many professionals reach a point where one certification isn’t enough. Maybe you want global audit exposure, wider job roles, or you are simply exploring new options.
And at this point, the big question hits: Can CMA USA holders get ACCA exemptions? Because imagine spending years earning your CMA USA credential, only to discover there is no ACCA exemption for CMA USA professionals.
Many CMA USA holders face this exact dilemma and we are here to help. This blog breaks it down what ACCA exemptions are available for CMA USA holders and how to claim them.
CMA USA holders may qualify for certain ACCA exemptions based on their existing knowledge and qualifications. This recognition stems from the significant subject overlap between both credentials.
The exemptions typically focus on foundational and intermediate papers where CMA USA covers similar ground. Think management accounting principles, financial reporting basics, and business fundamentals.
However, this doesn’t mean automatic or complete exemption from the ACCA qualification. That’s because CMA USA is a two-part certification focused mainly on management accounting and financial strategy, while ACCA covers a broader mix of accounting, audit, tax, and finance.
Now what does that really mean?
- You won’t get automatic or full exemptions just because you are a CMA. But Your CMA background gives you a strong foundation.
- ACCA will review your background, academic transcripts, and course content.
- If your CMA subjects match ACCA’s Applied Knowledge or Skills modules, you might be able to skip those papers.
The number of exemptions can vary from person to person, depending on:
- What you studied
- When and where you earned your CMA
- Supporting documents you submit
Which ACCA Papers Are Exempted After CMA USA?
CMA USA holders typically receive exemptions from these foundational papers if they choose to become an ACCA:
Applied Knowledge Level:
- BT (Business and Technology) – formerly F1
- MA (Management Accounting) – formerly F2
- FA (Financial Accounting) – formerly F3
Potential Skills Level Exemptions: Some candidates may qualify for higher-level exemptions based on course mapping:
- PM (Performance Management) – formerly F5
- FR (Financial Reporting) – formerly F7
- FM (Financial Management) – formerly F9
The exemptions usually concentrate at Applied Knowledge and Skills levels. Strategic Professional level papers rarely qualify for exemption since they require ACCA-specific competencies.
Remember, these are examples based on typical scenarios. So, don’t assume you will receive all listed exemptions. Each case is unique and subject to ACCA’s current exemption policies.
Is There A Mutual Recognition Agreement Between CMA USA And ACCA?
No, there is no formal Mutual Recognition Agreement (MRA) between CMA USA and ACCA at present.
But, first of all – what’s an MRA?
An MRA (Mutual Recognition Agreement) is an official agreement between two professional bodies that allows members of one to receive automatic or simplified recognition from the other. It often includes exam exemptions, membership access, or work rights across countries.
Now in 2013, ACCA and IMA announced a strategic collaboration and actually thought to sign an MRA which would have provided fuller recognition.
However, both ACCA and IMA pulled out of the mutual recognition agreement just months later. The failed MRA doesn’t influence current exemption policies. The only benefit that remained was the degree waiver for ACCA members applying for CMA USA.
What’s The Latest Update On ACCA-CMA USA Waivers And MRA?
The ACCA–IMA CMA partnership began in June 2012, with the key outcome in January 2013: ACCA members could get their bachelor’s degree requirement waived for CMA USA.
A broader Mutual Recognition Agreement (MRA) was proposed in mid‑2013 but was later dropped in August 2013.
But, despite dropping the MRA plan, the original partnership and the bachelor’s‑degree waiver remain in force. There’s been no new MRA or enhanced exemption updates since then.
Also, many confuse ACCA and CMA to be substitutes. But to clear the air, CMA USA is NOT equivalent to ACCA. They are separate qualifications with different focuses:
- CMA USA: Management accounting and financial management
- ACCA: Broad-based accounting and finance with audit focus
Having one doesn’t automatically grant you the other.
Is There Any Exemption For CMA USA Students In ACCA?
Yes, CMA USA students can get exemptions in ACCA. But there are conditions and not all papers are exempted.
ACCA has a Memorandum of Understanding (MoU) with the Institute of Cost Accountants of India (ICMAI). This MoU outlines which ACCA papers you can be exempted from based on your CMA qualification.
So, how many ACCA exemptions for CMA USA?
Before 2016, there were upto 7 exemptions. Now, you will get up to 3 exemptions in total. These are Knowledge Level papers:
- F1: Business and Technology
- F2: Management Accounting
- F3: Financial Accounting
You still need to sit for the remaining 10 papers out of the total 13 ACCA papers.
Note: These are general guidelines. Always check ACCA’s latest exemption matrix before making any decisions. These exemptions can change based on curriculum updates or policy changes from both organizations.
The exemption details we have mentioned are current as of 2025, but policies evolve.
To know exactly how many papers you can skip, use the official ACCA Exemptions Calculator. Just select your qualification, enter graduation year and get instant results.
Does ACCA Give Exemptions In CMA USA Exams?
ACCA exemptions for CMA USA – Is it a thing? Well, not really. CMA USA doesn’t offer direct exemptions, even if you already hold a qualification like ACCA.
Unlike ACCA, which offers exemptions based on past education or certifications, CMA USA is a two-part exam with no exemption policy. That means everyone who is fresh out or drop out (we will discuss later) of college or an ACCA member must take and pass both Part 1 and Part 2.
Now does that mean ACCA useless for IMA? Not at all.
While ACCA exemptions for CMA USA isn’t a reality, your ACCA background will help you. Topics like financial reporting, cost accounting, budgeting, and risk management are covered in both courses. So, if you have studied them before, you will find it easier to understand CMA USA content.
How Many Papers Are Exempted In ACCA After CMA Intermediate?
If you have cleared CMA Intermediate (India) and are now exploring the ACCA route, you might be wondering how many ACCA papers you can skip. The good news? You may be eligible for exemptions, depending on what you have already studied.
- It depends on the syllabus mapping
ACCA looks at the subjects you’ve completed in CMA Intermediate and maps them with its own papers. If the content matches, you get exemptions. Simple as that.
- Your transcripts play a key role
The exact number of exemptions can vary from person to person. It depends on:
- Which subjects you passed
- Your academic transcripts and results
- How closely your coursework aligns with ACCA modules
So, two CMA students might get different exemptions — even if they passed in the same attempt.
- Use the official ACCA exemption tool
The best way to find out your exemptions? Use the ACCA exemption calculator. It’s free and available on the ACCA website.
Can CMA USA Qualify For ACCA Without A Degree?
If you are thinking to opt for ACCA after CMA USA, it’s natural to wonder whether you need a bachelor’s degree. Or is CMA enough?
Well, given the MOU between IMA and ACCA, CMA-qualified professionals automatically qualify for the ACCA exam without needing a bachelor’s degree. This works in reverse, too. Even the ICMA Board of Regents has waived this requirement, specially for ACCA candidates.
Compared to traditional degrees like MBA or MCom, ACCA is flexible about recognising professional certifications. You can also get exemptions for certain exams if you have experience. You just have to write to the ACCA body requesting an exemption and wait for approval. They will evaluate your CMA USA alongside your work experience, skills, and other credentials.
CMA USA is a recognised qualification, and that strengthens your case to help bypass the degree rule.
Frequently Asked Questions About ACCA Exemption For CMA USA
Which ACCA Papers Are Exempted After CMA USA?
Exemptions in ACCA after CMA USA include foundation-level papers – BT (Business and Technology), MA (Management Accounting), and FA (Financial Accounting).
Does ACCA Give Exemptions In CMA USA Exams?
No, ACCA doesn’t directly give exemptions in the CMA USA exams. But, instead of exemptions from exam papers, you get an exemption from the degree requirement.