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Posts Tagged ‘Institute of Management Accountants’

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:

Management Accounting Careers with IMA Chair Sandra Richtermeyer

July 29th, 2010 Comments off

For anyone interested in a career in management accounting, here is a great post from Going Concern that would be great for you to read.  It contains an interview with the IMA Chair so it is obviously coming from their perspective (that’s not a bat thing — just be aware).  Read more at this link:

More on Cost Accounting Careers with IMA Chair Sandra Richtermeyer « Going Concern: Accounting News for Accountants & CFOs.

Job Hunting Ideas for Metropolitan State Accounting Students

July 4th, 2010 2 comments

The following was originally written as an email response to one student asking about internships.  In the interest of helping other students that have similar questions about how to approach job hunting (for internships or permanent positions) I am posting it here.  Like all posts on here, I welcome comments from everyone regarding the things I have written and/or with additional resources that I have missed.  Good luck!

Getting an internship is a great idea but has grown increasingly difficult in the past couple years.  Many companies have severely cut back due to the rough economy and may not be offering internships as they have in the past.  Also, labor laws have been interpreted differently of late to make companies leery of offering unpaid (or underpaid) opportunities so those have largely disappeared.

On my blog I have posted some resources that may be helpful:

http://acct320.com/tag/internships/

I think by far the best way to get an internship (and, in fact, any job) is to network with other professionals.  A lot of these positions are not advertised and only “through the grapevine” will you hear about them and meeting regularly with other professionals could be the only way to find out about openings.

You might check into the upcoming Accounting and Auditing Student Conference at the Minneapolis Convention Center (see http://www.studentconf.org/) and consider joining accounting organizations such as the Metro State Accounting Club (see http://accountingclub.metrostate.edu/) to get the ball rolling.

Other resources for networking include local chapters of the Institute of Management Accountants or the Minnesota Society of CPAs.  Both of these organizations have local meetings and that is where the value is when it comes to job hunting.  More information about student memberships can be found at: http://acct320.com/category/accounting-profession/organizations/.

Within the Metropolitan State University community, the best resource is the Career Services office.  They have resources online (at http://www.metrostate.edu/msweb/pathway/academic_success/counselcareer/career_services/) and host frequent events with the goal of connecting employers with prospective employees (like you!).

Last, but not least, a lot of networking happens online these days.  For professional purposes, LinkedIn (at http://linkedin.com) is  a winner.  Every young professional (and most older professionals) should have accounts on LinkedIn and update them frequently.  Because of my involvement on LinkedIn I have built a large base of accounting/business professionals that could help me out if something happened to my current job.  I’ve even been offered the chance to do things like edit textbooks and author articles for the professional magazines and blogs.  These are things that just “came up” because I’m active  on LinkedIn.  I like to think of LinkedIn as a Facebook for business contacts.

To get started, feel free to connect with me on there (LinkedIn only allows you to connect with people you know by using their email address) and build your network from there.  I would imagine there are student groups specific to every topic of interest that you can join and those can expose you to lots of openings and news information that will make you smarter about how things happen in the profession.

If you are in to the social networking thing, Twitter can also be a great tool.  The nice thing about Twitter is that you can follow anyone whether you know them or not and eventually relationships are established if/when people follow you back.  The definitely requires effort, but it can be well worth it if you have a few minutes each day to keep tabs on things.  I use a program called TweetDeck that allows me to see my Facebook, Twitter, and LinkedIn updates all in one program.

Good luck in your job hunting endeavors!  Things are beginning to thaw out there but the same skills that have helped people to the top in the past are the same ones that are important now: mostly it comes down to who you know and being in the right place at the right time.  You can increase the chance of this happening by putting yourself into opportunity filled situations both online and offline.

IMA Student Membership Discounted to $25

September 21st, 2009 Comments off

imaI’ve posted before about the benefits of joining the Institute of Management Accountants.  Everything I said at that time applies but the IMA is offering a discount off the normal price of $39/year for student membership dues so there is an even better deal to be had.  If you use the promotional code STUIMA25X when registering at the IMA website between now and September 28th, you will receive a one-year student membership for only $25.  The regular price of $39 was a good deal — but $25 is a GREAT deal.  Strongly consider taking advantage of this limited-time offer.

IMA Membership Application:

Become an IMA Student Member

April 19th, 2009 Comments off

imaStudent Membership to the Insititue of  Management Accountants has many benefits.  One of the benefits that is unique to organizations with in-person meetings is the opportunity to network with other professionals.  More often than not, networking is cited as a key component of successful job searches in the accounting field so this is especially important for anyone that is, or will be, seeking a new job or career path soon.

Student Membership is only $39/year (as I write this) and offers many benefits including discounts on fees for the CMA Exam.  Find out more at this link:

http://www.imanet.org/membership_helping_student.asp

Also, find out more about the Minneapolis chapter and other area chapters at the following links:

http://www.minneapolis.imanet.org/

http://www.ima-northernlights.imanet.org/index.htm

The Cost Accountant is Dead

April 19th, 2009 Comments off

This article discusses the new role that Cost Accountants are filling in organizations.  In fact, it replaces the term “Cost Accountant” with “Business Process Analyst” instead to reflect better the role that is being filled and the skills that are needed to succeed in the new environment.  Strategic Finance is a publication of the Institute of Management Accountants so realize that they are in the business of promoting Cost/Management Accountants and their role in organizations.  The IMA is the organization that administers the CMA (Certified Management Accountant) credential.

The Cost Accountant Is Dead; Long Live the Business Process Analyst.  Hannon, Neal J.  Strategic Finance; Dec2005, Vol. 87 Issue 6, p59-60, 2p