IMA/CMA Program Update
Northeast Regional Council
Conference 9/22/14
Dennis Whitney, CMA
Senior Vice President, ICMA®
Agenda
1
IMA - Advancing the Global Profession
2
IMA - A Year in Review
3
CMA Program Update
4
Marketing and Business Development
5
IMA Professional Development Update
6
The Path Forward
2
IMA – Advancing the Global Profession
3
IMA and Affiliates
One Vision: To be the resource for developing, certifying,
connecting, and supporting the world’s best accountants and
financial professionals within businesses.
4
Mission Statements
IMA
“To provide a forum for research, practice development, education, knowledge
sharing, and the advocacy of the highest ethical and best business practices in
management accounting and finance.”
ICMA
“To develop, administer, and promote certification designed to validate mastery of
the relevant body of knowledge and practical skills of management accounting and
finance professionals.”
Memorial Education Fund
“To accept bequests and gifts to support programs that further IMA member
education and educational activities that further the profession of management
accounting.”
IMA Research Foundation
“To develop and disseminate timely management accounting and financial
management research findings that can be applied to current and emerging
business issues.”
5
Global Core Values
•
•
•
•
•
Respect for the individual
Passion for serving members
Highest standards of integrity and trust
Teaming to achieve
Innovation and continuous improvement
6
Strategic Goals
Three primary strategic goals drive our plan:
 Create superior member value
 Increase the penetration of the CMA® exam
 Grow membership
Success with these goals will continue to result from a primary focus on the
needs of our members, supported by strong internal processes and our
capacity to learn and grow. Success also creates the financial resources that
are the foundation for sustainable growth.
7
IMA: A Year in Review
8
IMA: A Year in Review
•
•
•
•
•
•
•
Strong growth in all areas – one of the fastest growing
associations
Strong balance sheet and reserves
Financial discipline and health leads to great things for all
stakeholders, especially our members
CMA program is the leading management accounting
certification in the world
Exclusive focus on management accounting for nearly a
century
Global expansion and strong partners
We are proud of our culture and core values
9
Global Footprint - 2014
Europe Office
Staff – 3
Members – 2,600
CMAs – 900
% New Candidates – 4%
Exams – 1,000
Asia / Pacific Office
Staff – 13
Members – 12,400
CMAs – 2,600
% New Candidates – 42%
Exams – 10,700
The Americas &
Head Office
Staff – 80
Members – 46,000
CMAs – 16,000
% New Candidates – 19%
Exams – 4,700
Middle East Office
Staff – 7
Members – 12,000
CMAs – 2,100
% New Candidates – 35%
Exams – 7,300
10
IMA Membership Growth
Total Membership Actuals
FY10-FY14
75000
73000
71000
69000
67000
65000
63000
61000
59000
57000
July
August
September
October
November
December
January
February
March
April
May
June
FY10
FY11
58360
58581
58759
58,907
59243
59523
59796
63046
64671
64,619
64308
63,893
63794
63808
63975
64095
63792
64369
64007
63845
64120
64025
61985
60818
FY12
60618
61060
61609
62160
62260
63,223
63207
63415
63848
65492
65714
65099
FY13
64921
67,011
64878
66783
65064
67666
66390
68390
66368
68408
66149
69198
66802
71271
67525
71506
66520
71049
66821
70682
67278
71345
68200
72921
FY14
11
Student Membership – 2010-2014
Student Membership
FY10 - FY14
11000
10000
9000
8000
7000
6000
5000
4000
3000
July
August
September
October
November
December
January
February
March
April
May
June
FY10
3672
3602
4015
4378
4527
4448
4090
4096
4472
4452
4266
4040
FY11
3978
4017
4353
4897
4992
4661
4627
4824
5129
5180
4581
4234
FY12
4192
4206
4578
5156
5334
5083
4791
4977
5210
5361
5388
5134
FY13
5094
5103
5584
6314
6588
6544
6300
6344
6755
7032
7029
6974
FY14
6977
7130
7765
8495
8756
9151
8825
8955
9159
9223
9564
9820
12
IMA Financial Summary
($ in thousands)
2014
2013
2012
2011
2010
Operating Revenue
$ 25,504 $ 24,620 $ 22,881 $ 21,135 $ 20,341
Change in Net Assets
$
439 $
2,568
Net Assets
$ 15,300 $ 13,487 $ 11,882 $ 11,443 $
8,875
1,813 $
930 $
1,605 $
• Growing revenues
• Growing financial resources
• Growing ability to support members in their careers
13
Academic Development
14
Contributions to Accounting Education
Management Accounting Section of the American Accounting
Association (AAA), working to:
Define the competencies of accounting and finance professionals
Provide curriculum recommendations to universities
Curriculum mapping to identify paths to multiple certifications
Improve preparation of young accountants for careers inside businesses
Pathways Commission on Accounting Higher Education
Representation on task force commissioned by AAA and AICPA to study the future
structure of higher education for the accounting profession
IMA Committee on Academic Relations (CAR)
Developing quality standards for accounting education
Identifying and endorsing business programs that meet these standards
15
University Student Support
•
Scholarships
o Over $30,000 awarded each year
•
University Student Chapters
o 114 Student Chapters across the world
•
Student Case Competitions
o China - 400 teams (1500 participants!)
o U.S. - 22 teams
o Middle East - 20 teams
•
Student Leadership Conferences
o Annual event in the U.S. since 1999
o November 2013: Charlotte, NC, 580 students from 110 universities
o May 2014: Zurich, Switzerland, 17 students from 5 countries
16
Promoting Management Accounting Curriculum
IMA’s Academic Endorsement Program
•
Recognizing schools that meet quality educational standards to prepare students for the
CMA exam
•
Launched in 2013
•
Schools that have earned the endorsement:
Athens State University
Brigham Young University
Cleary University
Clemson University
Dixie State University
Eastern Oregon University
Johnson & Wales University-Charlotte
Michigan State University
Pennsylvania State University
University of Findlay
University of Utah
Washington State University-Vancouver
Curriculum Mapping
– Provides detail on which college courses prepare students for CMA exam topics
– Can be used as a reference for academic endorsement application
17
CMA Program Update
18
CMA Program Success
The CMA program continues to grow globally in respect, influence, new
CMAs and CMA candidates.

2014: Record numbers of


New CMAs: 3,003
New CMA candidates: 14,662

Members and candidates in 140 countries

Five year annualized growth rate of nearly 30%

Prominent in the world’s two largest economies
New CMAs FY05 - FY14
New CMAs by Region
CMAs by Region
Total New CMA Candidates FY09 - FY14
4 part to 2
part exam
CMA Candidates by Region
Exams by Region
Pass Rates
Worldwide Pass Rate - Parts 1 & 2 Combined
45%
40%
36%
37%
4295
exams
38%
35%
30%
4157
exams
4142
exams
25%
20%
15%
10%
5%
0%
May/June 2013
Sept/Oct 2013
Jan/Feb 2014
Testing Windows
5,018 exams were taken in May/June 2014; pass rates will be released in August
Part 1 Pass Rates by Region
Part 1 - Pass Rates 5/1/13 - 2/28/14
60%
51%
49%
50%
40%
42%
1396
exams
35%
2084
exams
510
exams
30%
7701
exams
21%
20%
3711
exams
10%
0%
Asia Pacific
Europe
Middle East
Americas
Worldwide
Part 2 Pass Rates by Region
Part 2 - Pass Rates 5/1/13 - 2/28/14
70%
50%
40%
52%
52%
60%
45%
886
exams
42%
388
exams
29%
1677
exams
4914
exams
30%
1963
exams
20%
10%
0%
Asia Pacific
Europe
Middle East
Americas
Worldwide
NEW CMA Exam Content
Part 1: Financial Reporting, Planning,
Performance and Control
Part 2: Financial Decision Making
- External Financial Reporting Decisions
- Financial Statement Analysis
- Planning, Budgeting, and Forecasting
- Corporate Finance
- Performance Management
- Decision Analysis
- Cost Management
- Risk Management
- Internal Controls
- Investment Decisions
- Professional Ethics
29
Part 1 – Financial Reporting, Planning, Performance, and Control
External Financial
Reporting Decisions
Financial statements, recognition, measurement, and valuation
Planning, Budgeting
and Forecasting
Strategic planning, budgeting, forecasting techniques, and
annual profit plans
Performance
Management
Cost and variance measures, responsibility centers and reporting
segments, performance measures
Cost Management
Costing systems, overhead costs, supply chain management,
business process improvement
Internal Controls
Governance, risk, and compliance, internal auditing, systems
controls, and security measures
30
Part 2 – Financial Decision Making
Financial Statement
Analysis
Financial statement analysis, financial ratios, and profitability
analysis
Corporate Finance
Long-term financial management, raising capital, working capital
management, corporate restructuring, international finance
Decision Analysis
Cost/volume/profit analysis, marginal analysis, and pricing
Risk Management
Identifying and managing enterprise risk
Investment
Decisions
Professional Ethics
Discounted cash flow analysis for capital investments
Ethical considerations for accounting and finance
professionals in business
Marketing and Business
Development Update
Marketing Update
 Strategy Components
 Branding
 Targeted Acquisition
 Digital Lead Acquisition
 Provider Partnership
33
Branding

Efforts driven via a progressive public
relations & social media approach

Platforms created via events,
statements, interviews, etc.

Platforms then covered and exposed
through media outlets globally

IMA/CMA exposed through
communities of tens of thousands of
potential members via social media
34
Targeted Acquisition

Efforts executed to targeted
audiences we capture in a
variety of ways

Audiences are hit both digitally,
and via postal mail

Various offers are tested, and we
leverage our continuing spend
on the most successful offers
35
Digital Lead Acquisition

Execute a strategic, global plan to
acquire leads

The strategy leverages prospect
interest in thought leadership

Campaigns driven by a substantial
digital advertising spend, so
complements branding efforts

Leads acquired are then added to
the Targeted Acquisition plan.
36
Review Course Provider Partnerships

Partnership networks created in all
global regions

Rely on marketing plans and
campaigns of network to
compliment IMA campaign, and
expand CMA messaging

Work with providers cooperatively
to develop markets, create
candidate incentives, etc.
37
IMA Business Development Eco System
15
Business
Development
Staff
200
Professional
Member
Chapters
12
Endorsed
Universities
100
Student
Member
Chapters
115
Global
Providers
11
Strategic
Partners
38
Corporate Activity
 Corporate
o Underwritten research
o Direct lead development
(leveraging thought
leadership content
through Salesforce)
o Corporate recognition
events
o Renewed volunteer
committee approach
39
Influencers

Campus Outreach
o
o
o
o
o

Course Providers (non-credit)
o
o

Academic Endorsement Program
Management accounting degree programs
Campus Advocate Program
CMA scholarships
IMA student chapters
Directors of continuing, professional, and executive education
functions
Private course providers
Course Providers (for credit)
o
Accounting chairs and professors
40
Professional Development Update
41
Strategic Asset: Content Creation Team
Publications
ECS ECS
Research
Research
ICMA
Thematic alignment produces synergies and allows members to
explore important topics in different media.
42
Cross-Functional Leverage of Assets: PowerPacks
Examples of Cross Functional Outputs: PowerPacks
43
Cross-Functional Leverage of Assets: Courses
SUSTAINABILITY
FP&A SERIES
COMING SOON:
NEW ETHICS COURSE!
44
IMALA Product Snapshot
Leadership Academy is a valuable IMA product offering leadership
profile setup, stand-alone courses, mentoring, and recognition.
Components:
 Leadership Profiles on IMALA website
 22 Stand-alone Course Offerings
Includes PPT slides, leader & participant guides
Topic range: Leadership, Coaching, Team Skills, Change, Delegation, etc.




Recognition Program
IMA Mentor/Mentee Network
Strategic Finance Leadership Columns
Volunteer Structure
45
IMA: The Path Forward
46
Key Elements in IMA Strategy
Mission
Vision
Values
Strategic Goals
Environmental Scan / Risk Assessment
Measures
Performance Targets / Budgets
47
The Strategy – in a “nutshell”
•
Aggressive global expansion of the CMA program
•
Member retention and loyalty in all regions through
delivery of valuable products and services
•
Increased emphasis on the Student / Academic
market to reach the Young Professional of tomorrow
•
Development of internal competencies including the
mastery of technology that directly impacts members
48
Balanced Scorecard Strategy Map
49
IMA: Your Critical Role
50
Thank You/Questions and Discussion
51