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Laying the Final Bricks of the CGMA Foundation

LibraryAt launch in 2012, we promised our members and the global employer market that the Chartered Global Management Accountant designation would recognize and support accounting professionals who know how to connect finance to strategy. Backed by the combined resources and reputations of the AICPA and CIMA, CGMAs would be recognized as finance leaders who see across the entire organization to make better business decisions.

In the last few months of 2014 we’ll deliver the fundamental pieces that will help define the profession of management accounting and solidify the CGMA’s position as the premier global management accounting designation.

This November, the designation, powered by the AICPA and the Chartered Institute of Management Accountants will sponsor the World Congress of Accountants 2014 in Rome. This sponsorship represents a remarkable opportunity for us to showcase both the CGMA designation and the U.S. CPA on an international stage. WCOA’s theme this year is, “2020 Vision: Learning from the Past, Building the Future.” To capitalize on this opportunity to discuss the future of the profession with leaders from around the globe, the CGMA designation is sponsoring the plenary session, “Businesses Thriving in Disruptive Times.” Additionally, in conjunction with WCOA, we will release a research report titled, “Powering the next generation of business,” focusing on the CGMA’s role in managing change, mitigating risk, innovating and providing expert decision-making.

In October, we will release the Global Management Accounting Principles, which describe the fundamental values, qualities, norms and features of the profession. The Principles represent an enormous amount of time and research and the valued feedback of more than 400 individuals from a broad range of backgrounds within the profession. Once put into practice by businesses around the world, the Global Management Accounting Principles will set the standard by which management accounting is performed.

By now, you’re probably heard a lot about the upcoming strategic case study in management accounting and how its unique format and content is different than any other professional qualification assessment.  In order to help CGMA candidates get a better sense of the features of the case study exam, we will launch the CGMA practice exam this month. I encourage candidates to take the practice test to gain familiarity with the various questions and how to navigate the exam. As a reminder, starting in January 2015, candidates from both the AICPA and CIMA will be required to pass the exam in order to become CGMA designation holders. Candidates who sign up for the designation by Dec. 31, 2014, will be exempt from taking the exam.

As we enter in 2015, we will finish laying the final bricks in the foundation of the CGMA designation, culminating in a designation based on a rigorous qualification structure and backed by the tools and resources management accountants need to stay ahead of changes in the profession and in the global business environment. 

Arleen Thomas, CPA, CGMA, Senior Vice President, Management Accounting & Global Markets, American Institute of CPAs.

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