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AICPA and CIMA’s management accounting designation, the CGMA (Chartered Global Management Accountant), officially launches today. This effort reinforces what we have always known at IMA®, which is that management accountants play a critical role in today's competitive global marketplace.
We are troubled by the absence of proper testing and assessment during the three-year period in which CPAs who meet certain criteria will have the option to be “grandfathered” into the CGMA program. Additionally, for a six-month period, qualifying AICPA members will be automatically enrolled into the CGMA program for free and will need to “opt out.” IMA believes that the most credible means for certifying competency in management accounting is by studying for and passing a rigorous testing program. We are certain that employers would agree that this is a more credible means to assure competency in areas critical to organizational success.
As IMA celebrates the 40th anniversary of its own CMA® exam, and the more than 36,000 certificates that have been issued by the Institute of Certified Management Accountants (ICMA®), the certification affiliate of IMA, we must remember that these individuals earned their credential by passing a comprehensive multi-part exam.
IMA president and CEO Jeff Thomson, CMA, has already expressed his concern about the CGMA when speaking with Accounting Today:
- “IMA Ready to Compete with AICPA for Management Accountants”
- “Letters: Coverage of CGMA Only Tells Half the Story”
Members of academia have also expressed similar concerns:
- “Some evidence that the AICPA's management has lost its focus”
- “AICPA Offers CGMA Revenue-Sharing Deal to State Societies”
Now, each of us must continue to be champions of the profession and uphold our high standards of what it means to be a management accountant.
As an organization, we will never lose sight of our ultimate mission, which is to responsibly serve individuals, the profession, and society by assuring the skills of management accountants are verified and fully aligned with the needs and standards of today’s businesses.
Join the discussion on LinkUp IMA at http://linkupima.com/pages/1517eeac0d. Tell us what IMA and the CMA mean to you. If you share our vision of what it means to be a management accountant, please feel free to share this with colleagues and friends.
IMA®, one of the largest and most respected associations focused exclusively on advancing the management accounting profession, is celebrating a landmark event this year: the 40th anniversary of the Certified Management Accounting (CMA®) program, a true assessment for competency in management accounting and financial management.
Throughout 2011, more than 8,400 new candidates enrolled in the program and more than 2,000 CMA certificates were awarded, setting a record for the highest number of new certificates awarded in any year.
Since the program’s inception in 1972, more than 36,000 professionals have earned CMA certification by passing a rigorous exam that evaluates expertise in the areas of planning, performance and control, and financial decision making. CMA candidates must also meet education and job experience requirements, and keep pace with the latest practices through continuing education, including ethics training.
“The CMA credential delivers tangible value through real-world relevance, employer recognition, and upward career mobility,” said Jeff Thomson, CMA, IMA president and CEO. “It demonstrates command of critical accounting and financial management skills demanded by today’s dynamic businesses.”
IMA is the premier resource for developing, certifying, and supporting the world’s best accountants and financial professionals. Mr. Thomson was also recently featured among Trust Across America’s Top 100 Thought Leaders in Trustworthy Business Behavior 2012 list, further demonstrating IMA’s commitment to a foundation of ethics.
For more information on the CMA, as well as ways IMA will be celebrating this achievement throughout 2012, take a moment to view Mr. Thomson’s video on IMA’s YouTube channel at http://www.youtube.com/user/LinkUpIMA
About IMA® (Institute of Management Accountants) IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 60,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.
News posted January 31, 2012 by Kevin OBrienThe Institute of Certified Management Accountants (ICMA®), the certification division of IMA®, today announced the leading performers on its Certified Management Accountant (CMA®) examination, recognizing participants in both its English and Simplified Chinese exam programs.
IMA is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Its globally recognized CMA program, now celebrating its 40th anniversary, is a relevant assessment of advanced accounting and financial management knowledge. The CMA assures employers that an individual has mastered the knowledge and skills needed on the job today.
- News posted January 23, 2012 by Kevin OBrien
Trust Across America just published its Top 100 Thought Leaders in Trustworthy Business Behavior list.
Congratulations to both Curt Verschoor, a longtime member of IMA’s Committee on Ethics and Jeff Thomson, IMA president and CEO appear on the list in recognition of their thought leadership in ethics!
- News posted January 23, 2012 by Kevin OBrien
Leading Accountancy Bodies Join Forces to Provide Powerful Insight Into Challenges Facing Business
Finance professionals believe there will be a renewed global economic downturn in 2012, as the largest ever quarterly survey of professional accountants shows that international trade continued to dry up at the end of last year…
- News posted January 3, 2012 by Kevin OBrien
The Institute of Management Accountants (IMA), which has offered the Certified Management Accountant (CMA) credential since 1972 and represents more than 60,000 accountants and financial professionals in business worldwide...
- News posted December 20, 2011 by Kevin OBrien
Jeffrey Thomson, president and CEO of the Institute of Management Accountants, worked for over two decades in the telecommunications industry and knows a thing or two about competition. But when he learned about the American Institute of CPAs’ partnership with the Chartered Institute of Management Accountants to offer a new Chartered Global Management Accountant credential essentially for free...
- News posted December 13, 2011 by Kevin OBrien
Your November coverage of the Chartered Global Management Accountant accreditation, in addition to your, "AICPA, CIMA Plan Push for New Management Credential," (AccoutingToday.com, October 18) sheds light on the critical role management accountants play in today's competitive global marketplace. What this article fails to share is that there are, in fact, gaps with regard to the testing, assessment and measurement of critical skills during the first three years of this venture....
- News posted November 28, 2011 by Kevin OBrien
To reflect IMA’s commitment to supporting relevant management accounting research, the IMA®Research Foundation (IRF), previously known as IMA’s Foundation for Applied Research, invites eligible candidates to participate in its Call for Proposals for new management accounting research studies.
Under the new IRF name, IMA’s longstanding grant program will continue to provide funding to conduct, support and disseminate relevant management accounting research, covering topics such as budgetary control, knowledge sharing, pay for performance, internal controls and risk management...
- News posted November 11, 2011 by Kevin OBrien
To recognize the accomplishments of members of the management accounting academic community, IMA®’s Foundation for Applied Research (FAR) recently announced its second annual Emerging Scholar Competitive Manuscript Award. The award was created to acknowledge the exceptional manuscript contribution of a single emerging scholar (or lead author recognition) of management accounting who has received a terminal degree (Ph.D., DBA, Ed. D., JD) within the last seven years.
IMA is accepting entries for the 2012 award now through January 14, 2012...