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Maharishi Universityof Management

CMA Exam Prep: Managerial Accounting Graduate Certificate

  • Objectives of the Certificate: This online, distance education certificate program in CMA Exam Prep: Managerial Accounting has dual purposes: (a) to prepare students to successfully pass the examinations to become Certified Management Accountants, and (b) to provide students with the fundamentals of Lean Accounting for improved decision-making. Lean Management and Lean Accounting are central themes throughout the certificate. Credits earned in this certificate program may be used to fulfill requirements of the BA degree in Business Administration, or the MBA degree, if you meet admissions requirements.
  • Pre-requisites: Financial Accounting and Managerial Accounting from an accredited university, or equivalent (e.g., chartered accountant courses), as approved by the department. In addition, you will need to pass an online accounting test to verify your understanding of basic financial accounting practices in the USA.
  • Certificate requirements: 18 credits total, consisting of 2 credits in Science and Technology of Consciousness (STC) (or previous Science of Creative Intelligence (SCI) course), plus 16 credits from the courses shown below. Graduate level students will have additional academic assignments for each course.
  • Before starting the second course, the student will be required to take instruction in the Transcendental Meditation (TM) technique at a local or regional TM Center. The cost of instruction in the Transcendental Meditation technique is separate and is the responsibility of the student. The local TM instructor will submit a document verifying the completion of instruction. It is recommended that students arrange for instruction during the first course.

Courses shown below are graduate level.

First semester (10 credits) STC 508: Science and Technology of Consciousness

MGT 5161 Financial Planning, Performance and Control (CMA 1)

Enjoy Greater Efficiency and Accomplish More

This course covers topics in Part 1 (of 2 parts) of the Certified Management Accountant (CMA) examination. The student is exposed to relevant professional skills and topics including budgeting and financial forecasting, cost management and allocation issues, standard costing, variance analysis, responsibility accounting, internal controls, and business ethics. The course is designed to build competency for CMA exam conditions including multiple-choice questions, essays, and business simulations. The professor offers technical insights about how to develop solutions quickly. Just as business feedback loops create opportunities for improved decision making, students in this course receive valuable feedback towards successful completion of the CMA. (4 credits) Prerequisites: MGT 5160 Managerial Accounting

The Science and Technology of Consciousness (STC) is a basic course in Consciousness-Based education that is the unique educational approach of Maharishi University of Management. Our university was inspired by the teachings of Maharishi Mahesh Yogi, a scientist and Vedic scholar from India. The practical aspect of STC is the Transcendental Meditation technique, a simple non-religious mental technique that produces positive effects on mental health, physical health, and social behaviors. For more information, go to (2 credits)

The goal of this course is for you to gain experience and understanding of consciousness as the unifying basis of all branches of knowledge. This course provides a foundation for all other courses you will take at Maharishi University of Management and introduces you to key ideas and terms relevant to your studies and to your experience here.

By the end of this course, you will be able to:

  • Understand the relationship between your individual self and your universal Self—the field of pure inner wakefulness, unbounded pure consciousness, at the source of thought.
  • Use principles of the Science of Creative Intelligence to deepen your understanding of foundational principles in the arts, sciences, and humanities.
  • Articulate how growth of consciousness and the study of inner subjectivity enrich education and other areas of life.

MGT 5162 Financial Decision Making (CMA 2)

Knowledge is Gained from Inside and Outside

Both inner knowledge and information from the environment are critical to properly manage business risks. In this course on topics covered in Part 2 (of 2 parts) of the Certified Management Accountant (CMA) examination, the student is exposed to relevant professional skills and topics in financial statement analysis, business performance metrics, profitability analysis, investment risk and portfolio management, financial instruments and cost of capital issues, international finance, corporate restructuring, decision analysis, and investment decisions. The course is designed to build competency for CMA exam conditions including multiple-choice questions, essays, and business simulations. Professors offer technical insights about how to develop solutions quickly. (4 credits) Prerequisites: MGT 5160 Managerial Accounting


2nd semester (8 credits)

MGT 5853 Systems for Developing Organizational Excellence

Maximizing Sustainable Organizational Brilliance

In the past ten years, business leaders around the world have developed new methodologies to steer their organizations towards sustainable achievement of “Triple Bottom Line” success, i.e., financial results, social responsibility, and environmental stewardship. In this course, students will learn about the major programs for developing organizational excellence including Six Sigma, Lean Management, Balanced Scorecard, Continuous Process Improvement (kaizen), and other best practices methodologies. (2 credits)

MGT 5854 Lean Management Principles

Managing According to Natural Law

Through selected journal and website articles, students are introduced to the basic concepts of Lean Management as exemplified in the Toyota Production System. The elements, rules and tools of lean are explored as a methodology for aligning an organization’s strategic and operational plans to be consistent with Nature’s organizing principles. Students write essays and take online quizzes to demonstrate mastery of the material. (2 credits)

MGT 5855 Lean Accounting I

Transformation through Organizational Self-referral

To effectively support lean management initiatives, accountants must embrace new procedures to prepare management reports that focus on inventory size reductions, tracking of waste and failure costs, and improved productivity and occupancy costs. They must reveal the causal factors that drive lean success. They must think creatively about how to structure compensation systems that encourage lean behaviors. Through articles, case studies, lectures, and written assignments, students will gain a solid foundation for facilitating lean transformation. (2 credits) Prerequisite: Intermediate Accounting I & II (MGT 440 & MGT 441 OR MGT 5141 and 5142)


MGT 5856 Lean Accounting II

Creating Coherence in the Flow of Accounting Services

In this course, students learn how to apply the concepts of lean management to streamline accounting processes and to better meet the needs of the internal customers who use accounting services. Students learn how to assess internal customer requirements, how to map accounting value streams, how to identify non-value added activities, and how to conduct kaizen events to continuously improve accounting services. (2 credits) Prerequisite: Lean Accounting I (MGT 5855)

Program Costs:

  • Tuition: ($400 per credit)
    • 1st semester, 10 credits (10 X $400) = $4000
    • 2nd semester, 8 credits (8 X $400) = $3200
  • Books: approximately $150-$200 per semester
  • Instruction in the Transcendental Meditation technique: To locate a certified TM instructor in your area, visit or call 1-888-532-7686. Cost of TM instruction will vary by country.

If the student has already taken STC or SCI courses through the University sometime in the past, then the STC course is waived, and the cost of the program is reduced by $800.

Registration: To register for this certificate program, contact MBA Program Team Leader, Karen Slowick at 641-472-1128 or via email at



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