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Chartered Global Management Accountant credential announced

May 23rd, 2011 Comments off

The American Institute of Public Accountants (AICPA) announced today that its governing body has approved a joint venture with the Chartered Institute of Management Accountants (CIMA) to manage a new accounting credential aimed at management accountants worldwide.  This accounting credential will be known as CGMA and stands for Chartered Global Management Accountant.  Certain members of both organizations will automatically be eligible for the new credential beginning in 2012 and there will eventually be paths to gain the credential for others as well.

“This is truly an historic moment for management accounting and the accounting profession worldwide,” AICPA Chairman Paul Stahlin said.  “Our joint venture with CIMA creates long-term strategic value for our members and literally opens up the world for U.S. CPAs in management accounting.”

CIMA President George Glass said: “We are delighted that management accountancy is to be given a strong new global impetus by this joint venture. This advances our strategic aims and will ensure management accountants, committed to strict ethical standards, will receive world-class support in a fast-globalizing world.”

CIMA is the largest professional body in the world focused exclusively on management accounting and the AICPA is the world’s largest professional accounting organization with members in a wide range of accounting and financial executive roles. Together, the new venture will cover more than 550,000 members and students worldwide.

Given that the Institute of Management Accountants in the United States already offers the CMA (Certified Management Accountant) credential, it is at least a bit interesting that CIMA chose the AICPA as their American partner.  Is the CMA credential headed for extinction? Hard to say at this point.  It may take a while for things to shake out and in the end both credentials may be held in high esteem.  Time will tell…

More information:

Accounting Jobs Set to Sizzle

May 13th, 2011 Comments off

Even during the recession, the accounting profession has fared rather well.  This trend will continue and certain areas of the profession will be in high demand as companies enter the hiring mode and baby-boomers that have held off retiring leave the workforce.

Jobs in accounting and finance may not be recession proof, but they canopy a range of careers that come pretty close to the mark. That’s what recruiters and experts in the field are saying, and the outlook only gets better going forward.

“Even through the recession, accounting and finance has stayed strong and stable,” says Toby Coffey, director of permanent services for Robert Half Finance & Accounting in Chicago, adding that, while salaries haven’t grown overall in recent years, they maintained their levels. “There are certain skill sets that will be in very high demand coming out of the recession,” he says.

Top Money Makers – INSIGHT Magazine – Spring 2011.

Categories: Acct Profession, Employment, INSIGHT Tags:

Do Social Networks Trump Résumés?

May 13th, 2011 Comments off

Cool Blog Sociale - 10 July 2008 - Creative hire Resume T-shirt by BlackBirdTees A

For finance professionals, a carefully crafted résumé has always been vital to landing a job. Now some experts say that social-networking Websites have become just as important to a successful job search, if not more so. 

In the last 18 months or so, I’ve run across a lot of recruiting and job-seeking on sites liked LinkedIn.  This trend seems likely to continue as electronic tools take the place of paper-based documents even in the relatively traditional area of employment.  If online dating can be mainstream it makes sense that the job market would move that direction as well.

Do Social Networks Trump Résumés? – Careers – CFO.com.

How the CPA Exam Is Scored

April 27th, 2011 Comments off

Those of you sitting for the CPA Exam in the near future will find it interesting to read how the CPA Exam is scored.  In this Journal of Accountancy article, you’ll learn more than you ever thought possible.  I know I did!

Read more at: How the CPA Exam Is Scored.

Categories: CPA Exam, Journal of Accountancy Tags:

More on CPA exam changes

February 8th, 2011 Comments off

The February/March issue of the MNCPA magazine, Footnote, contains a brief article about the CPA Exam changes that started in January.  We aren’t quite to the point of getting people as whipped up as when calculators were first allowed, but it sure seems like we might be heading in that direction.  The bottom line remains that this exam is very challenging (some might say grueling) but anything worth having generally is.

Read more at this link: Staff and managers: Beware of significant CPA exam changes.

Categories: CPA Exam, MNCPA Tags:

2011 CPA Exam Changes

January 28th, 2011 Comments off

If you are looking toward the future and that future includes sitting for the CPA Exam, check out the video at the link below that highlights the changes to the Exam for 2011.

http://www.journalofaccountancy.com/Multimedia/?bcpid=1842749430&bclid=637631810001&bctid=706056437001

Categories: CPA Exam, Journal of Accountancy Tags:

CPA Firms Aren’t 100% Stodgy

January 22nd, 2011 Comments off

Here is what I think is a great video put together by a CPA Firm.  Think they have any trouble attracting talent?  Is their culture obvious?  I’d love to work in such an environment…

http://www.withum.com/popupvid_music-video.html

How College Students Should Use Linkedin « The Summa

December 6th, 2010 Comments off

Professor David Albrecht has done a nice job highlighting why you, as a college student, should be using LinkedIn.  In the last year, I’ve had several colleagues find new jobs using LinkedIn after being displaced…not having a robust presence there could be costing you opportunities.

Read the complete post here: How College Students Should Use Linkedin « The Summa.

CPA Exam Passing Rates

September 23rd, 2010 Comments off

I’ve posted infrequently about the passing rates on the CPA Exam in the past but happened to stumble upon some links I wanted to share with more current information.  The passing rate on each part continues to hover around 50% as we near 2011 when the exam format and content will change.  There is some thought that scores in 2011 will be lower than they are now although I wonder if some candidates in the last half of 2010 are rushing to complete the exam when they should be studying so maybe the score dip will happen pre-2011.  I guess we’ll have to wait and see.  For now, though, hear are links to the most recent statistics regarding CPA Exam passing rates:

2010

2009

2008

Categories: CPA Exam Tags:

The Path to CFO: Is the CMA Credential Just as Important as the CPA?

September 21st, 2010 Comments off
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Photo credit: Youssef Abdelaal on flickr

The Path to CFO: Is the CMA Credential Just as Important as the CPA? « Going Concern: Accounting News for Accountants & CFOs.

There are some interesting points in the post made at the link above.  Rather than contrast the CPA and CMA credentials with the idea of promoting one or the other, there are arguments about the two credentials actually supplementing each other.

I have a feeling the IMA would be more successful if they marketed the CMA credential better, but is it in their best interest to promote the credential as an “add-on” to the CPA?  I think they would then likely alienate many of their current CMAs that only have that credential.

As a CPA who has, at times, thought about taking the CMA Exam, I just have never seen the value in earning it and I haven’t been willing to spend the money in exam fees and ongoing IMA dues to make it worth my while.