Certified Management Accountant

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The Australian Institute of Finance & Management offers The Certified Management Accountant(CMA) Program endorsed ICMA (AUS)

AIFM's CMA page

The CMA Program

The aim of this program is to further develop skills of analysis, evaluation and synthesis in cost and management accounting for associate members and create awareness of current developments in the profession.

The program is not designed to provide one "correct" solution or answer for problems or issues. Rather, it is more a possibilities quest in which various controversial conceptual and practical issues will be reviewed and analysed with due recognition to the reality of alternative value judgments.

Management Accounting procedures continue to evolve and develop. Much of this dynamic activity is in response to changing business practices and policies and the complexity of modern firms. This program will bring you up to date with Best Practice in Management Accounting

Why you should enrol AIFM's CMA page

Acquire the relevant skills and information that will allow you to build quality business practices inside your organsiation and set you apart in today's competitive marketplace.

Observe and interact with the foremost authorities in Management Accounting and financial management and learn from their expertise.

Establish yourself as a strategic operations-focused professional committed to lifelong learning and positioned for long-term success.

Network with colleagues and discuss the issues that affect you today.

Most likely to attend:AIFM's CMA page

CEOs, CFOs, Directors of Finance, Finance Controllers

CAs and CPAss in Business with middle management positions in the finance team and who aspire to higher management positions.

CAs and CPAs in Public Practice who provide a business advisory service

The Certification Program has four objectives: AIFM's CMA page

To establish Management Accounting and Financial Management as recognised professions by identifying the role of the professional, the underlying body of knowledge and a course of study by which this knowledge is acquired

To encourage higher educational standards in the Management Accounting and financial management fields

To establish an objective measure of an individual's knowledge and competence in Management Accounting and financial management

To encourage continued professional development

Benefits AIFM's CMA page

Communicate your broad business competency and strategic financial mastery

Obtain contemporary professional knowledge and develop skills and abilities that are valued by successful businesses

Convey your commitment to an exemplary standard of excellence that is grounded on a strong ethical foundation and lifelong learning

Enhance your career development and professional promotion opportunities.

In the United States, the profession of accounting includes Certified Management Accountants (CMAs). A CMA is granted a certificate from the Institute of Management Accountants (IMA), provided that the candidate passed a rigorous examination of four parts and met practical experience requirements. A CMA generally provides their services directly to their employers rather than to the public. A CMA may also provide services to the public, but to a much lesser extent than a Certified Public Accountant (CPA).

The CMA credentials differ significantly from the CPA designation, and the decision to pursue one over the other depends entirely on one’s career goals. More than 80% of accounting professionals in the U.S. work within organizations, building quality financial practices into the organization through decision support, planning, and control over the organization’s value-creating operations. For these managerial finance and accounting professionals, the CMA is more appropriate as a best selection.

Also in Canada, the profession of accounting includes Certified Management Accountants (CMAs).

In order to earn CMA designation, an accountant must have mastered a comprehensive body of knowledge by demonstrating six key skill levels -- knowledge, comprehension, application, analysis, synthesis, and evaluation -- in the following areas: - Business Analysis (econmics, internal controls, quantitative methods, financial statement analysis) - Management Accounting and Reporting (budget preparation, cost management, performance measurement, external financial reporting) - Strategic Management (stragegic planning, corporate finance, decision analysis, investment decision analysis) - Business Applications (all of the above, plus organization management, behavioral issues, ethical considerations)

External links

Institute of Management Accountants Certification Page