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September 30, 2023

Do You Really Want a Management Accountant Credential That Doesn’t Require Passing a Rigorous Multipart Exam?

Did you all remember that the Chartered Global Management Accountant designation was kicking off today? No? Shame. For those of you that crave letters behind your name like stoners crave Cool Ranch Doritos, this is EXCITING NEWS, especially if you already have your CPA. Why's that you ask? Because, says the rival Institute of Management Accountants, "[T]he AICPA is essentially giving away the new designation to CPAs over a six-month auto-enrollment period without requiring any special training in management accounting." In other words, it's basically an empty credential that is akin to those bullshit Who's Who offers you get in mail. 

While the AICPA was on the PR offensive all day, the IMA put out its own statement, reminding everyone that if you want a real management accountant credential, you know where to find one: 

In contrast, IMA believes the most credible means for certifying competency in management accounting is by studying for and passing a rigorous testing program, combined with an educational and experience requirement. To date, the Institute of Certified Management Accountants (ICMA®), the certification affiliate of IMA, has issued more than 36,000 CMA® certificates to professionals who have earned their credential by passing a rigorous multipart exam.
So if you want to take the easy way out that allows you to get a credential by simply having a pulse and the capability to fill out a few forms in order to have a few more letters on your business card and maybe a few more dollars in the bank, that's your business. But you'll have to live with yourself.


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