The Future of
Management Accounting
Understanding the New Chartered Global
Management Accountant (CGMA) Credential
Today’s Agenda
■ Background
■ The Role of Management Accountants
■ Introducing the CGMA
■ Delivering Opportunity
■ Resources for Growth and Development
■ Partnering with CIMA
■ Conclusion
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Background
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Global Landscape
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Credential for BIG
■ Questions with which we wrestled:
• How do we respond to the desire of members in BIG for a
management accounting credential that builds on their CPA
certificate?
• How do we improve the quality and scope of resources offered
to CPAs in management accounting?
• How can we enhance, deepen and accelerate the CPA’s
international influence and reputation?
• How can we solidify the role management accountants play on
behalf of the public interest?
■ The answer we arrived at:
• Showcase BIG members’ expertise in management accounting
by establishing a new global credential and providing
appropriate resources for growth and development.
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Role of Management
Accountants
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Who Are Management Accountants?
■ Understand how parts of the business fit together
■ Support and drive the right decisions
■ Are strategic leaders and business partners
■ Are on the front lines
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developing business strategy
protecting corporate assets
minimizing risk
managing relationships – internal and external
assuring high organizational integrity
■ Work in the public interest
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The CPA’s Commitment to the Public Interest
Public Interest
Economy
Sector
Company
Finance Team
Management
Accountant
Management Accounting
Contribution
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Management Accounting Value Progression
Objective
Financial
Reports
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Strategic
Business
Partner
Decision
Enabler,
Decision
Maker
Management Accounting
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The Enterprise Pillar
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The Performance Pillar
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The Financial Pillar
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Introducing the CGMA
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What is the CGMA?
■ Chartered Global Management Accountant
■ Global designation that elevates the profession of
management accounting
■ Powered by AICPA and CIMA
■ Launch expectation January 2012
■ Six month trial following launch
■ AICPA/State Society discount
CGMA
CPA Pathway Upon Launch
■ Until January 1, 2015, AICPA members must meet
one of the following qualifications:
• Three (3) years of experience working in a financial/management
accounting capacity in business industry or government OR two (2)
such years plus one (1) year of public accounting experience:
- Experience must be in the field of financial/management
accounting. Those with experience in internal and governmental
auditing qualify as well.
- Personal financial services do not qualify for this purpose.
• Three (3) years of experience working in a financial/management
accounting role on a consulting basis;
• Three (3) years of management accounting experience gained by a
U.S. CPA whose primary responsibilities are focused on the
management and operation of a CPA firm.
CGMA
CPA Pathway After January 1, 2015
PATHWAY TO MEMBERSHIP
To obtain a CGMA in the United States, you must be a regular voting
AICPA member
EXPERIENCE REQUIREMENT
Three years of management accounting experience are required
EXAM REQUIREMENT
Computer-based assessment starts in January 2015. Assessment will
test differences between CPA Exam and CGMA Study Guide
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Delivering Opportunity
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Elevating the Profession of Management
Accounting
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Personal Marketing
Jane Smith, CPA, CGMA
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Resources for Growth and
Development
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Relevant and Timely Subject Matter
■ Thought leadership reports
■ Cutting-edge research
■ Webcasts
■ Global community and forum
■ Continuing professional development
■ Professional publications
■ CGMA Magazine
■ Content developed specifically for management
accountants
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Thought Leadership
Unlocking Business Intelligence (BI)
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Understanding the components
Strategy and building the business case for BI
Vendor Landscape
Improving decision making
Building World Class Business for the Future
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Challenges and Opportunities
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Planning Horizons – Thinking Long-term
Defining, Balancing Short- and Long-term Goals
Water Scarcity Report – Apocalypse H2O
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Accounting for the true value of water
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Understanding and managing the risks
The Management Accountant’s role
Supported Learning Environment
Behavioral and
Skills
Assessment
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Individual
Development
Plan
Customized by
Job Title and
Career path
Online Self-Assessment Learning Platform
■ Based on several characteristic financial positions / role
profiles
■ Assesses strengths and opportunities for improvement
• Practical Skills
• Behavioral Traits
• Cognitive Abilities
■ Provides value to credential holders and the marketplace
• Career Pathway (Individual)
• Continuous Improvement (Individual)
• Organizational Development (Employer)
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Partnering with CIMA
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What is CIMA?
■ Chartered Institute of Management Accountants
■ Based in London, founded in 1919
■ Largest professional body of management
accountants
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The AICPA-CIMA Joint Venture
■ Promote a new globally recognized management
accounting designation
■ Leverage the power of more than 550,000 collective
members
■ Advance CPA as a premier professional accounting
credential across the globe
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Growing Worldwide Presence
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Growing Worldwide Presence
(Includes Regular Members and Students)
Note: Unshaded areas represent fewer than 1,500 CIMA members/students
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Growing Worldwide Presence
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CIMA’s Marketing Influence
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Conclusion
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Opportunity for CPAs
■ Complement your CPA with a professional credential for
management accounting
■ Access new resources focused on management accounting:
website, self-directed education, white papers, webcasts
■ Join an online social network of management accounting
professionals
■ Enhance the science of management accounting worldwide,
advancing business objectives and serving the public interest
■ Increase the voice of U.S. CPAs for advocacy efforts
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Opportunity for the Profession
■ Highlight and promote CPAs as financial leaders world-wide
■ Highlight the work that members in business, industry and
government do on behalf of businesses and in the public
interest
■ Grow and promote the CPA designation around the world
■ Increase the competencies and skillsets of designees so that
they may continue to serve businesses with expertise and
integrity
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Questions?
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