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February 6, 2023

Friday Discussion Item: What’s the Real Value of a CGMA?

I feel like we have addressed this before, or rather, we've incessantly ripped on the CGMA from the beginning. In the interest of fairness, we should present the other side before we do that again. But first, the question:

According to the CGMA.org "Why become a CGMA?" page, here are the benefits:

Recognises your experience and skills globally.
Having the CGMA designation will add power to your CV/resume by demonstrating your business acumen, ethics and commitment.

Showcases your value around the world.
Every day CGMA professionals work with key employers and influencers worldwide, increasing awareness of the designation.

Connects you to a community of like-minded peers.
By becoming a part of a global community of professional management accountants, you can share best practices, create innovation and be better prepared to meet the global challenges in today’s business environment.

Gives you the tools you need to succeed.
CGMA tools, webinars, reports and research will challenge your thinking and keep you at the forefront of your profession, giving you a competitive edge.

Let's talk about "commitment," OK?

The current requirement to become a CGMA is as follows:

A minimum of:

1.

Three years of financial (including internal audit) or management accounting experience in business, industry, or government, or

2.

Two years of financial or management accounting experience plus one year in public accounting, or

3.

Three years of financial/management accounting experience on a consulting basis, or

4.

Three years in a management accounting role focused on the management and operation of an accounting firm

 

 

 

 

 

 

 

SO, commitment. Maybe I'm as dense as a fart in a crowded elevator but I'm just not seeing it. We aren't talking a commitment of, say, 4 – 5 years in college and 400+ hours of studying for an exam over a year and a half plus two years of experience in public accounting, we're talking about three years of work. Oh, and a commitment to paying your AICPA dues. Seems legit.

Can we have this discussion? Do we even need to? Screw it, it's Friday, might as well.

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