The CGMA designation is the premier management accounting credential — distinguishing accounting professionals who have advanced proficiency in finance, operations, strategy and management. The designation is underpinned by extensive global research to ensure that designation holders maintain the highest relevance with employers, and continue to develop competencies most in demand.
More than , accounting and finance professionals hold the CGMA, making it the most widely held management accounting designation in the world.
To earn the CGMA designation, you need to master the technical finance and accounting skills, understand advanced business concepts and demonstrate strategic leadership abilities. The CGMA Finance Leadership Program was created to help you develop competencies in these areas and ultimately, and become a better business leader.
Each level of the CGMA program culminates with a case study exam, a unique assessment designed to test your mastery of the critical competencies. The exam will challenge you to apply all your knowledge and skills to deliver insights and make decisions in a real-world business situation.
Due to the growing importance of management accounting in a corporate sector, companies felt the need to hire certified accountants who are qualified to perform their job efficiently. This is the reason why certifications in management accounting were introduced. Although, both the certifications are for management accounting professionals, yet there are certain differences between these professional certifications. Some of the differences are discussed below.
The Chartered Institute of Management Accountant or CIMA is a professional body for management accountant that provides qualification and training in management accounting. It is a UK based body and focuses on accounting for business. CIMA professionals are usually involved in making strategic management decisions, and formulate strategies for businesses based on their knowledge and training. Over the years, they have sharpened their skills to meet the challenging requirements in the management decision making of the corporate sector.
These institutes are members of the International Federation of Accountants IFAC and are playing a vital role to train management accountants at domestic as well as international level. ACMA professionals are providing their services at a middle management position in consultancy firms, industrial sector and financial institutions. The ACMA professionals are the backbone of the organization. The IMA has been in existence since and the CMA credential has been a consistent and growing force in accounting since the s.
According to the IMA, the certification demonstrates your command of the critical accounting and financial management skills, including:. This makes the CMA certification especially attractive to professionals seeking to work in a variety of logistics, analyst, management and executive roles. The first CMA exam was offered in Today, it is a two-part, timed computer-based exam. Each part is four hours in length and consists of multiple-choice questions and two minute essays testing cost accounting, internal control and financial management topics.
Candidates must register to take at least one exam part within the first 12 months of entering the CMA program and must complete both exam parts within three years. Launched in January , the CGMA exam is a three-hour computerized case study that requires you to carry out management accounting tasks.
You are given a data set and industry information via download about a hypothetical organization seven weeks prior to your test date. During the exam, new information may be provided that will change the scenario and require you to adapt your answers. Each task must be answered fully in the allotted time. Because of the established reputation of the CMA, this designation is recognized more by employers and management accountants.
CGMA is the most widely held management accounting designation in the world with more than , designees. It was established in by the AICPA and CIMA to recognise a unique group of management accountants who have reached the highest benchmark of quality and competence.
The CGMA designation is built on extensive global research to maintain the highest relevance with employers and develop the competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements.
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