4 Career Resources for the Management Accountant
There’s no need for media reports to tell us that business has changed more in the last few years than we could ever have imagined. We’ve seen first-hand how our role has moved in new directions, markets have become more competitive and a commitment to learning has risen as a must-have for success. Ironically, along with these challenges are tremendous benefits that have brought us greater leadership opportunities and job satisfaction, stronger team and organizational performance, and the latest in professional development.
As widespread as these benefits are, attaining them calls for resources designed for today’s business environment and the finance teams that drive it day after day, year after year. Yet, it can be overwhelming choosing from so many leadership and career resources on the market. To help ease the process, here are four recent CGMA releases:
- CGMA Competency Framework: The new skills- and knowledge-building framework, which was developed by the AICPA and Chartered Institute of Management Accountants, helps CGMA designation holders and their employers understand and assess the competencies that are needed for both current and desired roles in management accounting, and competencies most sought after in the marketplace. It reflects how the finance role is being transformed by today’s business needs, and how finance executives are applying their strategic, decision-making and leadership expertise to managing businesses more every year.
- CGMA Finance Impact Tool: One of the top ways we can keep the finance function operating at peak performance and contributing to organizational success is to perform a self-assessment and analysis. The CGMA FIT is a comprehensive, systematic assessment of finance activities that pinpoints strengths and improvement areas, focuses on best practices, provides immediate action steps and resources for addressing challenges and opportunities, and monitors progress. The results are organization-wide improvement, and support for strategy development and business planning.
- Value Chain Resources: Businesses have both consolidated and expanded their reach across the US and the world, causing a dramatic transformation in the value chains that deliver products and services. This transformation has created a value chain that now includes multiple business relationships that impact the bottom line. There are a number of CGMA reports, briefings, videos and other tools that can help you better understand not only your extended value chain but also your finance team’s role in managing it. These resources are featured on the CGMA websiteand are regularly updated.
- Addressing the Employability Crisis: Still-troubling global unemployment and underemployment rates, especially among young adults, doesn’t mean that discovering talent is easy for organizations. It’s actually quite the opposite. Organizations are struggling when recruiting people who have the skills needed to contribute and grow business. And it’s just as challenging for job seekers obtaining and maintaining those coveted skills. For both, the need to change and adapt is critical. The CGMA report Addressing the Employability Crisis explore the need for employers, educators, students, employees and the government to work together on this issue.
Everyone can download the CGMA Competency Framework on CGMA.org today. The FIT, value chain resources and Addressing the Employability Crisis report are available for download by CGMA designation holders. Not a designation holder? Visit CGMA.org learn more about becoming a CGMA.
Arleen Thomas, CPA, CGMA, Senior Vice President - Management Accounting and Global Markets, American Institute of CPAs.
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