“Hard work is the heartbeat of success”

In my formative years, I was uncertain about the career path I would eventually pursue as an adult. The idea of excelling in the Licensure Examinations for Certified Public Accountants (LECPA) and successfully passing the US Certified Management Accountant (CMA) exams was beyond my wildest imagination. Like many others, I grappled with self-doubt and often felt that I was not anything special. I lacked extraordinary talents and didn’t stand out in a crowd. However, what I did have were big dreams and grit. I wanted to prove that I had what it takes to be great. My favorite NBA player, Dwyane Wade, once said, “My belief is stronger than your doubt.” As time has passed, this mantra has become my guiding principle in my journey through life. I tell this story to people all the time, but when I was in the Integrated Classes at the University of San Jose-Recoletos (USJ-R), I would always be the first to enter the library and be the last one to exit. I was aware I wasn’t inherently exceptional, so I felt the need to put in extra effort to remain competitive. To this day, I still remember what it felt like to fail my first three quizzes in one of my major subjects during my first year in college, but that did not stop me from progressing forward.

Consequently, I established my study habits, honed my self-learning skills, and cultivated discipline early on. With dedication, I managed to consistently achieve high grades, ultimately earning Latin honors upon graduation. This experience taught me that, with the right mindset, being ordinary can be an asset, not a limitation. I was not overly surprised when I topped the boards; in my heart, I knew I could make it happen because I worked three times as hard as anyone.

I embarked on my CMA journey during my fourth year of college, concurrently with my on-the-job training (OJT) sessions. That time, we could opt for certification exams to fulfill OJT work hours. Initially, I had reservations because it seemed quite expensive, especially considering I was just a student with no income. However, during an event organized by Insights Financial Review Services in partnership with USJ-R, one of their representatives shared their experience of being a CMA before becoming a CPA, sparking my interest and motivation to pursue the same path.

Fortunately, Insights provided an installment plan and a discounted fee, which I promptly took advantage of. I can confidently say that, as a professional now, I have no regrets about my decision because once we attain professional status, the fees imposed by IMA for the CMA exams will increase, resulting in higher expenses. Beyond the satisfaction of personal achievement, the CMA certification has opened doors to new avenues in my career, particularly advantageous when seeking opportunities abroad. Employers recognize the significant value that a CMA brings not only as a financial professional but also as a strategic partner contributing to organizational success. My approach to studying for the CMA exams differed slightly from my LECPA preparation. In the former, I focused more on solving multiple-choice questions and practicing essay responses. Given that I had recently graduated, I didn’t bother rereading concepts.

After graduating last December 2022, I took the CMA exam in the January-February 2023 window. Admittedly, because of personal challenges affecting my mental state at that time, I wasn’t able to give it my very best. Despite this, thanks to Insights’ resources and continuous reminders. I managed to overcome the challenges and achieve commendable scores. When it came to the CPA exams, on the other hand, I felt more mentally prepared.

My study approach that time involved a significant focus on reading concepts and textbooks, given that I took a 3-4 months break from studying. I wouldn’t recommend this to everyone, as many may tend to forget a lot during such a hiatus, and cramming in a short review period could compromise one’s health. Due to time constraints, I dedicated the last month of my review to solving multiple-choice questions (MCQs), but overall, my preparation was concept-based.

My daily review schedule consisted of waking up at 8-9 AM and going to bed at 11 PM, with breaks in between. It was extremely challenging at first, especially with the temptation to indulge in my hobby of playing computer games. However, as time went by, my body adapted to the routine, and I successfully developed self-discipline. Trying to get through the first few humps is the hardest part but once you make it past there, you’ll be exactly at the place where you want yourself to be at. An additional advantage of having pursued the CMA before the CPA was that I didn’t need to extensively review Management Services (MS) during my CPA preparations, as I had already covered it in my CMA exams and I was able to allocate more time to the subjects that posed greater challenges for me. It’s not just about the satisfaction of becoming a CMA before a CPA, it genuinely aided in my preparations. To those considering the CMA journey and aspiring CPAs, my advice is to adopt a concept-based approach during your undergraduate studies and review sessions.

Incorporate multiple-choice questions (MCQs) and essays, but aim to gain a deep understanding of the topics and learn them by heart. This approach will not only benefit you in your exams but also the post-exam phase as you take the next step towards becoming a professional. Additionally, I encourage you to embrace the challenge, relish the learning process, and know that the destination is not just a certification; it’s a testament to your capabilities and a key to unlocking new horizons in your career. Let me leave you with one of my favorite quotes by Theodor Roosevelt, “Believe you can and you’re halfway there.”

About the Author:

Hebban Tawantawan currently serves as an Assurance Associate at Isla Lipana & Co., the Philippine member firm of PriceWaterhouseCoopers (PwC). He graduated Magna Cum Laude, obtaining his Bachelor of Science in Accountancy from the University of San Jose-Recoletos. In October 2023, Hebban Tawantawan undertook the Licensure Examinations for Certified Public Accountants in the Philippines, emerging as the top scorer among 8,734 test takers nationwide. Prior to attaining the CPA designation, he successfully passed the Certified Management Accountant examinations administered by the Institute of Management Accountants in February 2023.

“Believe you can and you will.”

After almost four agonizing years, the long wait is finally over for completing the CMA program.

A couple of months before I graduated, I decided to give the CMA certification course a try after learning about it from my seniors and friends. Given the widespread recognition of this credential within and outside of the Philippines, I thought the CMA presents a wide range of opportunities.

After graduating in March 2019, I flew to Manila to review at Insights Financial Review Services for at least six months. Yes, that was how committed I was to passing the tough examination. It was difficult because it was my first time living away from my parents. I struggled during the review for various reasons, including the lessons, homesickness, and emotional breakdowns due to receiving low scores on the comprehensive and mock exams.

Despite my best efforts, I failed in both parts on my first try. Although disappointing, it was anticipated. Though I know I am capable; it’s just that I did not perform well.

With my parents’ support, I decided to continue what I started. I consulted with Insights and made the decision to sit for the Part 2 exam in January-February 2020 testing window and the Part 1 exam in May-June 2020 window. I returned to Manila and spent a month and a half reviewing for Part 2, making the most of every day to study hard. While waiting for the result, I returned to my hometown to self-review for Part 1, and then the COVID-19 pandemic struck. I did pass the Part 2 exam! However, due to financial difficulties and travel restrictions, I opted to work and reassessed my goal for taking the remaining exam Part. I enjoyed working and felt content at moments when I considered dropping out of the program. But I begged for a sign because I was still debating whether I should continue or not.

One day, I received the sign I was hoping for. My friend, who was also my companion during the review at Insights, asked whether I wanted to continue the remaining part. We contacted Insights, and they assisted us in processing what we needed to continue with the program. Since the three-year period then was coming to an end, I did write IMA a letter stating my intention to continue the program and requesting that my Part 2 exam be reinstated for credit. And as if it were for me, the ICMA responded, giving me until September/October 2023 to pass the Part 1 exam.  

It was a risky decision, and I struggled getting used to it since I felt I was starting over. Managing my schedule between working, sleeping, and studying was difficult. I occassionally placed more importance on sleeping than studying when I got home late from work. I wanted to finish things off, so I took the chance of taking the exam in May/June 2023 window. That rushed decision did result in another exam failure. This time around, I felt like I failed so much that I was depressed and thought maybe this CMA title wasn’t for me after all. It had taken a financial and physical toll on me.

Since childhood, I have always had big dreams, I do not give up easily, and most importantly, I take risks. I did pay for another exam fee and restudied for the September/October 2023 window. At that moment, I distinctly recall saying, “This will be the last time that I step on this place because I believe that this time I will pass.” Although it was a bold thing to say, it gave me the confidence I needed to finish the exam and leave the Prometic Testing Centre in Makati smiling.

The remaining months of 2023 were filled with both excitement and nervousness. Waiting for the result for over a month and a half gave me relief since I FINALLY PASSED! At last, my efforts have paid off. I just thought then that it was all over.

As I was processing the requirements for the CMA certification, I noticed in my IMA account that my Part 2 exam was not credited. I then went back to the email that I received from the ICMA and realized that I had misunderstood something. I was so desperate that I sent another email to them requesting the reinstatement of my Part 2 exam because I knew I had worked hard for it and believed that I had met the requirements.

I waited for a response for two weeks, but I never got one, which worried me. I was about to give up and started pulling out my notes for Part 2 since I was prepared to retake the exam, but the Lord is so kind that He heard my prayers. IMA Communication sent me an email informing me that my requirements are satisfied and that my certificate is on its way. I was crying and yelling because I had finally earned my CMA title.

For those whose goals have been put on hold due to the pandemic, financial difficulties, or other issues. Please never give up, keep having great dreams, and step beyond your comfort zone. Although the journey may be difficult, the benefits will be great. We may face many obstacles and come to many realizations along the way, but that path will shape who we are today.

I would like to thank Insights Financial Review Services, especially Sir Angel Secerio, for the guidance and never-ending support and for answering all my queries. To my family, Ma, Pa, I hope I made you proud. To my friends and colleagues who are always cheering for me, and to the Almighty High, who always makes the impossible possible.

About the Author:

Danielle P. Pedrajas is a Bachelor of Science in Accounting Technology graduate at the Ateneo de Zamboanga University. She currently works at the AFPSLAI office in Zamboanga City.