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Topic: AICPA Blow to IMA’s CMA designation (

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AuthExecOut
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Posted: 16 Mar 2012 at 01:46 \| IP Logged

The AICPA has just ROCKED the IMA's CMA designation with introduction of the CGMA, CHARTERED GLOBAL MANAGEMENT ACCOUNTANT. In other words, they have created a designation that has a name that clearly implies superior importance. Oh your just a Certified Management Accountant?, well I am a Chartered GLOBAL Management Accountant. Wait a second I thought the CMA was global? So there is 2 Global Management Accountant Certs? Of course there is a CA and a CPA but CPAs originate from USA and CA is non USA, in the CMA/CGMA Example we have two organizations originating in the US trying to control the "MA" designation. Wow, unreal to see this kind of obvious takeover by one certification group over another but here we have it folks. Someone can try to "define" the differences and make an argument for how they are "totally different" but it is all in the name. "Management Accountant". The CMA could have attracted a lot more people and solidified its ownership of the "Management Accountant" designation if it had positioned itself correctly. Unfortunately the high cost of the designation and CPEs led to this. I believe I read if you fail to pay one year or get your CPEs, you not only lose the designation, you have to RETAKE the exam. Retake the exam? Stop playing, you killed it. Decide for yourself but I consider this amazing that this type of cert would be made in light of an already existing CMA. Btw, the AICPA and IMA teamed up for COSO, thought they were pals, but this is a spit in the face as far as I am concerned.

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purplest33l
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Posted: 18 Mar 2012 at 20:46 \| IP Logged

I have been following this and I do not think acquiring this designation requires any new testing or additional study. Looks like there is just an experience requirement.

I guess its a shortcut for CPAs to get a specific cost/management accounting designation if they are working in consulting/industry and an added way to remove some of the indecision when people are stuck between pursuing the CPA vs CMA ("Hey I can effectively get both by studying for the CPA and qualifying for the CGMA afterwards!").

IPFM
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Posted: 09 Apr 2012 at 09:01 \| IP Logged

By cutting its exams from 4 to 2 (specially the most important Part 4 exam which used to cover the whole syllabus) , IMA has already degraded its value.

Though I am myself a CMA from IMA (old 4 parts), I do not reckon IMA exam can produce good management accountants.

After all its business, and IMA want to earn profits disregarding to create bunch of incompetent management accountants.

I wish I had done CIMA instead of CMA

alcohen
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Posted: 12 Apr 2012 at 20:15 \| IP Logged

IPFM, I just passed both parts of the CMA. I found the
exam to be quite useful in improving my financial and
management accounting knowledge. This is also after
passing the CPA, CIA, and CFE exams.. Do you really feel
that the IMA exam cannot produce good management
accountants because is now only two parts? I really do
not see the correlation.

I found both parts of the CMA exam to be extensive, and
found the essay sections at the end to be just as
challenging, and at times more so than the simulations on
the CPA exam. Also having 100 questions on both parts,
the vast majority of which were multiple step calculation
problems, led to a very grueling two-part exam. Each
part took me every single second of the four hour time
limit.

I truly believe I learned a lot from studying for and
passing the CMA exam, despite the fact it was only two
parts. I felt the two parts were very focused, and were
a great challenge.

I am sorry you do not feel the same way.

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CMA: Passed
CIA: Passed Parts 1-3
CFE: Passed
CPA: Passed
BEC: 80 (1/14/11)
AUD: 97 (5/31/11)
FAR: 78 (7/29/11)
REG: 92 (8/31/11)

rd4bu
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Posted: 13 Apr 2012 at 14:35 \| IP Logged

I think the CMA was just as challenging as the CPA exam. It took me the full allotted time to complete the exams. Actually, I was not able to complete all the essay questions on either CMA exam due to time constraints.

The CMA is a good certification and probably aligns more with accountants in private industry than the CPA. However, it is just not as widely known and accepted as other accounting certifications. Not sure if it will ever get there.

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rd4bu
CPA - Done (Texas)
CIA - Done
CFSA - Done
CRMA -Done
CMA - Done

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