Hi All,
As our prestigious, gold-standard CMA exam approaches its 40th anniversary this year, I wanted to again thank you for being part of the IMA community which is growing every day in influence and respect. IMA is financially and culturally healthy, the CMA program is growing world-wide, we are expanding our partnerships and alliances, and we are inspired by the challenges of serving our members, organizations and society. With focus, agility, innovation and our core values, the IMA community is poised for even greater success!
Earlier today, at 8 am US eastern time, the "CGMA" went live. The CGMA stands for Chartered Global Management Accountant, the result of a joint venture between AICPA and CIMA (UK). As a CFO in business, industry and government for over two decades in US-based MNCs (multi-national corp.), I am appreciative that the "C" in CMA means "Certified". Read on ---->
Let me be clear on IMA's concern. For three full years, AICPA voting members with three years of experience in management accounting earn the CGMA. For the next six months, they actually get automatically enrolled as CGMAs for free if they meet the basic criteria. Later, they can opt out but otherwise, on their anniversary date, they pay the $150 annual fee ($100 to a state society). Simply put, there is NO exam in the US for the next three years.
I earned my CMA, as did over 36,000 others, by studying for and passing a rigorous, relevant and focused exam (in addition to experience, education and continuing education requirements). I studied my xxxx off, even though I had significant experience on the "CFO team" prior to earning my CMA. Employers and association executives agree, the competencies of financial planning and analysis, strategic planning, risk management and other forms of decision analytics are unique and critical to organizational success and economic vitality.
With respect, I call the question: You are an employer, let's say, the CFO of a large multi-national company. You critically need the skills and competencies that management accountants bring to the table. You want the best possible means to assure competency in these critical skill sets. Which is the best way to serve the employer's needs, and that of society? Again, I am proud that the CMA exam is a rigorous, relevant and focused exam that tests 10 different knowledge domains, starting with a solid foundation in ethics.
IMA will continue to call this question, and be a FIERCE competitor (Focused in serving its mission, Innovative in unleashing our creative potential, Entrepreneurial in all we do like "owners of a business", Respectful in how we act and speak per Our Core Values, Courageous in speaking out on behalf of the profession, and Empathetic in listening and caring for all members of the IMA community).
Thanks,
Jeff Thomson, CERTIFIED Management Accountant