Nov 24, 2014

Management Accounting—Should You Pursue the CGMA Designation?

By Mike Colgan, PICPA Executive Director and CEO

The AICPA and the Chartered Institute of Management Accountants (CIMA) launched the Chartered Global Management Accountant (CGMA) designation in 2012. As of Nov. 19, 2014, there are now 48,931 CGMAs in the United States, and over 1,957 are PICPA members.

The CGMA designation recognizes the business acumen, leadership capability, and technical proficiency of management accountants and the increasing numbers are bringing increased awareness. Beginning Jan. 1, 2015,  CGMA candidates will be required to take a strategic case study exam, but those who enroll before Dec. 31, 2014, will be exempt.

I discussed the CGMA at our fall Professional Issues Updates, and found that many of our members already exhibit the defining qualities of a management accountant. This online chart from the CGMA website can help you determine your eligibility.

CGMA image

You can further learn how to apply your CGMA-ready skills at the upcoming Financial Leaders Workshop in King of Prussia. Ash Noah, CPA, FCMA, CGMA, who is AICPA’s vice president of external relations and management accounting, will give a presentation on building resilient business models that can withstand the impact of changing technologies, social media, and disruptive innovation.

In addition to upcoming Financial Leaders Workshop, the CGMA credential provides you with access to the global network of management accounting professionals. Many thought leadership reports, videos, and other resources are available to those with the credential. Key management accounting topics such as integrated reporting, big data, ethical performance, and managing the open workforce are addressed, and the CGMA blog and competency framework are useful tools as you transform your role as a trusted business advisor.

If you are considering adding the credential and would like to speak to a PICPA member regarding the value, please contact me and we will be happy to make the connection.

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Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.