Chartered Global Management Accountant (CGMA) talking points - CGMA
Skip to main content
Powered By AICPA CIMA AICPA CIMA
 
 

Chartered Global Management Accountant (CGMA) Designation talking points 

Introducing the CGMA designation: AICPA

  • The Chartered Global Management Accountant (CGMA) designation is a globally recognised professional designation that underscores the financial and non-financial skills and experience that CPAs bring to critical business decision-making and strategic management. It distinguishes CPAs who work in corporations of all sizes, nonprofits and government, helping to drive strong performance and sustainable business success.
  •  The CGMA designation provides a way for CPAs working in business, industry and government, corporate finance or business functions—whether in small private companies or multinational public companies, government entities or not-for-profits and—to enhance their professional credibility and gain access to extensive global resources and expertise.

Introducing the CGMA designation: CIMA

  • As a Chartered Management Accountant you already have the experience, examination and education of a world-class management accountant. Your completion of the CIMA syllabus and your three years of experience automatically entitles you to the CGMA designation.

About the AICPA-CIMA joint venture

  • The CGMA designation has been created through a joint venture between the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), two of the world’s leading accounting organisations.
  • The American Institute of Certified Public Accountants (AICPA) is the world’s largest member association representing the accounting profession, with nearly 386,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs. 
  • CIMA is the world’s leading and largest professional body of management accountants, with more than 195,000 members and students operating in 176 countries and working in the hub of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organisations. About Management Accounting
  • Management accountants are trusted to guide critical business decisions and drive strong business performance. They combine financial expertise and business acumen to achieve sustainable business success. They understand how the different parts of the business need to come together.
  • CGMA designation holders are committed to professional ethics and a code of conduct. A single syllabus and examination standard ensures the consistency of a CGMA holder’s skills all over the world. 
  • While many CGMA designation holders work in the financial department, others put their broader business training to use across the organization, including the roles of Board Director, Chairman and CEO.

Advantages for employers

  • Organisations will better understand market trends and manage opportunities by accessing CGMA leading edge research. For example, in the report, Rebooting business: Valuing the human dimension, Gary Kabureck, VP of Xerox states: “What the customer wants, where the customer or market is going, you need to be alert to that. And the company that can identify earlier and get there better will be more successful than those that can’t.” 
  • Their management teams will be more collaborative and develop broader based industry expertise. As Priyan Fernando, EVP of Global Business Services at American Express explains, “Our finance people have been able to branch out into other areas. For management accountants, their diversity of skill sets plays really well to where corporate America is moving.”
  • CGMA designation holders help develop a common business language across their organisations and help connect the dots. As a result, global business and customers will increasingly turn to CGMAs for US market advice. Prat Bhatt, VP at Cisco said, “You’ve got to be able to represent not only your discipline, but you’ve got to be able to think broadly and join the dots. I think executives looking forward have to have that sort of multidisciplinary approach.”

Eligibility requirements

  • The CGMA designation launched on 31 January 2012.
  • In the U.S., CGMA designation holders' expertise is rooted in the U.S. CPA curriculum. CGMA holders have passed the Uniform CPA Examination; have obtained 150 hours of education at an accredited college or university; make a commitment to obtaining 120 hours of CPE every three years; and promise to abide by the AICPA bylaws and Code of Professional Conduct in order to become CPAs and voting members of the AICPA.
  • In addition to these requirements, CPAs must meet one of the following criteria to be eligible for the CGMA designation (until January 1, 2015, at which time an assessment will be created for new entrants):
    • Three years of financial (including internal audit) or management accounting experience in business, industry, or government; or
    • Two years of financial or management accounting experience plus one year in public accounting; or
    • Three years of financial/management accounting experience on a consulting basis; or
    • Three years in a management accounting role focused on the management and operation of an accounting firm.  
  • Personal financial services experience does not qualify for eligibility.
  • Until 2015, AICPA Regular (voting) members who are qualified to receive the CGMA designation may do so by following the instructions on CGMA.org: Become a CGMA® - How to qualify.
  • Starting on January 1, 2015, qualifying AICPA Regular (voting) members will be required to take a computer-based strategic case study exam in management accounting to earn the CGMA designation.
  • CIMA members automatically receive the CGMA designation with no additional cost to their annual CIMA subscription.

Competency-building resources

  • A CGMA designation tells the world you’re a trusted, expert strategist connecting all aspects of business. Backed by a powerful array of benefits, you can stay connected to the pulse of your profession, become a knowledge leader and join the conversation.
  • CGMA Magazine: Your online source for management accounting news, in-depth analysis of key business issues and best practices for management accountants.
  • CGMA Newsletter: Get informed with a quick-read weekly roundup of the most compelling news and articles from the magazine and website. It's delivered to your inbox, so you have easy one-click access to the content you want to read.
  • Tools: Drive best business practices with scenario-planning tools, checklists, decision trees, an enterprise risk management assessment tool, and real-world case studies.
  • Reports: Discover leading-edge research, tools and techniques, and strategic insights from award-winning experts on key issues facing businesses in the global economy.
  • Harvard ManageMentor: Provided exclusively to CGMA designation holders, this online learning and performance support resource serves up critical management skills on demand and is suitable for management accountants at all levels.
  • Global Economic Surveys: Gain insight into the views of financial executives on their outlook for the economy, their individual organisations, growth and expansion expectations and current economic challenges.
  • Products: Grow with professional development products tailored to management accounting. Online courses, webinars, digital publications and conferences are available at special pricing for CGMA designation holders.



1 Comment


Comments
Narayanan Vijayaraghavan

AICPA shall have to consider some MiP opportunities for CGMA.

Yours

VN

1-6N6BJR

Jan 23, 2015 2:05 PM
Showing 1 of 1 comments   
 
You must be a CGMA Designation Holder to comment
Login now

Stay connected with CGMA

  • Facebook
  • twitter
  • linkedin
  • Google plus
  • You tube