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Essential Tools for Management Accountants

Essential Tools for Management Accountants

This collection of resources brings together the top tools used by management accountants and outlines when and how best to use them for maximum value.

 

CGMA Finance Impact Tool

CGMA Finance Impact Tool

The CGMA Finance Impact Tool is a comprehensive, systematic assessment of an organisation’s finance activities. Finance function improvement and forward movement begins with self-assessment and analysis that serve as a catalyst for transformation.

 

CGMA Competency Framework

CGMA Competency Framework

The CGMA Competency Framework is designed to help management accountants and their employers understand the knowledge requirements and assess the skills needed for both current and desired roles.

 

Risk questions a CGMA should ask about process innovation

Ten key elements to sustainable business practices in SMEs

Read top tips and case studies showcasing how sustainability initiatives can drive business success.



Risk questions a CGMA should ask about process innovation

Risk questions a CGMA should ask about process innovation

Learn to identify the key risk questions which must be asked and answered before implementing process change.



How to develop non-financial KPIs


How to manage customer value

The focus on customer relationship management has become central to all organisations. Companies have increasingly recognised the significant costs related to the loss of customers and are trying to better understand, measure, manage and improve customer retention.



How to develop non-financial KPIs


How to develop non-financial KPIs

This tool provides guidance for identifying and designing Key Performance Indicators (KPIs) for non-financial performance measures.



Strategy mapping

Strategy mapping tool

Strategy maps allow organisations to describe and communicate their strategies concisely and succinctly to close the gap between formulation and successful implementation of strategy.



Calculating the cost of retention and replacement: COLT© and CORT©


Calculating the cost of retention and replacement: COLT© and CORT©

Organisations need to know the underlying cost and impact of losing and replacing talent. Cost of Losing Talent© (COLT©) and Cost of Replacing Talent© (CORT©) are tools that help HR and finance assess the contribution and value of employees to organizations.



How to improve your finance organisation’s effectiveness

How to improve your finance organisation’s effectiveness

The roles of finance professionals are changing. The AICPA and CIMA have created three tools to help finance organisations effectively address these changes. They can be used singly or in combination by an individual or the entire finance team.



How to develop a strong and interdependent team

How to develop a strong and interdependent team

One of the roles of a financial leader is to be the developer of the team’s skills and talents. To be successful, financial leaders must enhance their skills in developing a strong and interdependent team. This tool provides information on how financial leaders can build strong and interdependent teams.



How to set the right performance targets: a 10 step target setting tool

How to set the right performance targets: a 10 step target setting tool

Targets should encourage people to succeed and drive superior performance. But setting the right targets is not easy, and as a result target-setting has become a real issue for many organisations. Here we present a 10-step tool, based on research by the Cranfield School of Management, that will help CGMA designation holders better understand and set performance management targets.



CGMA case study: Navigating ethical issues

CGMA case study: Navigating ethical issues

This case study places you in the role of corporate controller for a larger public company, making decisions that will not only affect your future, but the future of many others. The facts of this case cover integrity and objectivity, confidentiality, internal accounting controls, and procedures for investigating and reporting irregularities.



CGMA ethics resources

CGMA ethics resources

CGMA professionals are dedicated to upholding the highest standards of ethics and integrity, and designees are governed by the professional code of conduct of their respective issuing body. The AICPA and CIMA have developed a number of ethics resources to help members comply with their professional codes.



Ethical Reflection Checklist

Ethical Reflection Checklist

A reflective checklist that allows individuals and organisations to assess the level at which sound ethical management practices have been embedded in the business.



How to analyse profitability: DuPont® system, EBITDA and earnings quality

How to analyse profitability: DuPont® system, EBITDA and earnings quality

The DuPont® system enables you to examine a company’s financial statements to determine what, if anything is causing return on equity to fall short of expectations. In this tool, learn more about the system and how return on equity is simultaneously affected by cost control, sales and leverage.


 
Six career planning tips for the experienced financial professiona

Six career planning tips for the experienced financial professional

With the expanding range of roles on offer to those with a management accounting qualification – from business partner positions to directorships – opportunities to climb the career ladder have never been greater for CGMA designation holders. This tool is designed to help you evaluate and plan your career advancement, and includes a practical checklist to help keep you on track.

 
 
How to turn data into decisions

How to turn data into decisions

Successful decisions require a disciplined process for managing the resources of the organisation. This tool provides an overview of a range of tools that are useful to CGMA professionals in a variety of situations, including Target Costing, Process Mapping, Fishbone Chart for cause and effect analysis and Theory of Constraints (TOC).

 

How to make the business case for web 2.0

How to make the business case for web 2.0

Web 2.0 is changing business processes by enabling instant feedback, content generation and sharing. Many executives see web 2.0 projects as experiments, subject to less stringent investment criteria than other projects, but the business case for such investments needs to be made. This tool takes CGMA designation holders through the process of creating a business case for web 2.0 investments. It also lists the lessons learnt by 20 organisations that have invested in web 2.0.

 

Three approaches for valuing intangible assets

Three approaches for valuing intangible assets

Valuation assignments must estimate the value of intangibles, recognising the volatility, ongoing creation, and problems with protection and enforcement.  Three methods used to value intangible assets include the market, income and cost approaches. This tool is intended to help CGMA professionals to develop or confirm their general understanding of these three methods.

 
 
How to communicate risks using a heat map

How to communicate risks using a heat map

Managing and communicating risks have become crucial tasks in today’s economy. A heat map is a great vehicle for communicating risk to senior management, boards of directors and audit committees.

 
 
How to improve your board’s effectiveness

How to improve your board’s effectiveness

Organisations need to place more emphasis on how well their board oversees strategy and risk as well as the appropriate behaviours required to fulfil this task effectively. Here we present three tools that can help organisations and their boards to address these issues effectively.




How to drive value from sustainability performance management and the CFO's role

How to drive value from sustainability performance management and the CFO's role

Sustainability can drive significant business benefits. Yet in many organisations, its value is not fully realised. Robust sustainability performance management, driven by the CFO and their finance team, is the key to unlocking this value. CGMA designation holders can translate sustainability into real numbers that impact financial performance, and are well placed to support the integration of sustainability across the business. This tool outlines 5 key steps for effective sustainability performance management.

 

How to evaluate enterprise risk management maturity case study

How to evaluate enterprise risk management maturity case study

This hypothetical case study is presented as an illustration of how the Enterprise Risk Management (ERM) assessment tool might be used by senior management and the board of directors to assess the effectiveness of an organization’s approach to enterprise risk management. The case study guides the evaluator through eight areas of focus that are considered to be important dimensions of an effective ERM process.

 

How to assess the impact of climate change on your organisation

How to assess the impact of climate change on your organisation

Is your business ready for the impact of climate change? This tool allows you to examine how well adapted your organisation is to the possible impacts of climate change across a number of categories – including water, energy, IT, impact on customers and infrastructure.

 

How to evaluate enterprise risk management maturity

How to evaluate enterprise risk management maturity

This Enterprise Risk Management (ERM) assessment tool can be used by senior executives and their boards of directors to evaluate the strength and relevance of their organisation’s existing risk oversight processes. This tool can be used to determine whether the organisation is applying best practices in ERM, and if not, what steps are still necessary to be considered best practice. There are two versions of the tool (a Word version and an Excel version).

 

How to evaluate capital expenditures

How to evaluate capital expenditures

Better-managed organisations view all long-term programs (capital and non capital) in a disciplined environment. This resource explores some of the unique issues concerning budgeting and evaluating, financing and managing a variety of activities.

 

How to manage reverse logistics

How to manage reverse logistics

Retailers and manufacturers can't afford to ignore reverse logistics. Between 4% to 30% of products are returned by customers. This reverse logistics diagnostic and performance improvement toolkit will help companies audit their returns management activities and identify opportunities to reduce costs and waste and improve customer service.

 

Two tools for valuing a business: Initial document request and business history checklist

Two tools for valuing a business: Initial document request and business history checklist

Valuation analysts often send out a general request for information, including a business history checklist. Management accountants might find the information in these checklists useful for incorporating into due diligence information requests for mergers and acquisitions.



15 Comments


Comments
Kankanam GamageMadusanka

I am so excited to become a CGMA designation holder. Those tools and other resources in this website are truly magnificent and would definitely help a range of professionals. Highly recommended.

Nov 18, 2013 12:44 AM
Comments
Noorizan Bin Mustaffa

Many useful tools in this protal. Really glad the become a CGMA. Keep up the good work.

Nov 8, 2013 2:39 AM
Comments
Kapembwa Sikazwe

I just need to create more time to read and assumulate all this material..Otherwise this is very resourceful keep it going

Oct 1, 2013 3:24 AM
Comments
Olumide Agbaje

Hi Tim,

I work in the North Eastern of the United States and I would like to connect with other CIMA/CGMA members in that region.  

Feb 21, 2013 2:30 PM
Comments
Olumide Agbaje

Hi Tim,

I work in the North Eastern of the United States and I would like to connect with other CIMA/CGMA members in that region.  

Feb 21, 2013 2:30 PM
Comments
Stacie Saunders

Timothy, thank you so much for your suggestion. It?s a great idea. We are considering a number of enhancements to the website and have added that to our list. However until then, I hope you will post jobs in the CGMA LinkedIn Group http://linkd.in/O4kiBv .

If you have any more suggestions, please send them to us. We are always looking for ways to improve the site.

Jun 9, 2012 1:03 PM
Comments
Timothy Unwin

Are there any plans to have an internationa jobs section? I'm interested as I may have an opportunity for someone in north america.

(Tim Unwin FCMA, CGMA)

Jun 1, 2012 4:53 PM
Comments
Michael Che

We are interested in knowing the AICPA to get new benefits for software development.My contact as signed is Elizabeth Robinson.Keep in touch.

May 5, 2012 10:38 AM
Comments
Patricia Montour

I have been working in industry form several years and am very happy to have access to some really effective tools.  I look forward to the opportunity to interact with other CGMA Finance Professionals.

Thank you for adding relevant and credible information.  It is much appreciated.

Apr 10, 2012 2:10 PM
Comments
Ronish Dookhony

This is a great start to a toolkit for any Finance Professional. I am looking forward to reading the next ones.

Mar 2, 2012 8:44 AM
Comments
Graham Miller

Hope that CGMA will quickly gain the name recognition to give members the credility they need and deserve to further their international careers.

Feb 4, 2012 10:30 AM
Comments
William Carter

I have worked my whole accounting career in industry.  This is impressive, exciting, powerful, and relevant.  The content here has a direct impact for those of us not in Public Accounting.  Thank you AICPA & CIMA.

Feb 3, 2012 1:40 PM
Comments
Stanislaus Yeung

There are many useful tools available in the portal. Sure that joining CGMA is a right choice.

Feb 2, 2012 1:18 AM
Comments
Tarek Rana

I am really excited and glad to be a CGMA. I think this is the designation  and platform for all finance and accounting professionals around the globe.

Feb 1, 2012 7:47 PM
Comments
Kevin Somppi

I am impressed, this is a very strong website for information resources.

Jan 31, 2012 11:56 AM
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