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If you’ve completely spaced it, the Chartered Global Management Accountant is a new credential that will be jointly offered by the AICPA and the CIMA. We first mentioned it back in the spring and yesterday, JofA informed us that the big coming out party would be January 31. Why the new credential, you ask? Well, mostly because it’s a crazy fucked up world out there, says CIMA CEO Charles Tilly:
“We are in an incredibly challenging world,” Tilley said, citing global economic risks, competitive pressures and demands on natural and other resources. “The world needs management accountants and CGMAs more than ever right now.”
Right! And we can think of at least one operation that is looking for immediate help.
Back in March, we reported that the AICPA and CIMA were kicking around the idea of working together on a new global management accountant credential. Today, the two organizations have officially rolled out their plans.
[T]he two accounting bodies will create the new CGMA designation to give management accountancy a higher profile in the United States and promote the professional development of management accountants across the globe. Backing the new CGMA designation will be an AICPA-CIMA joint venture with international resources and experience in management accounting and business.
This will compete with the IMA’s CMA designation which has proven to be a valuable credential, although not a very sought-after one. The CGMA won’t be available until 2012 but the press release doesn’t give a lot of details about how the designation will be earned:
It is proposed that the new CGMA designation will be issued to members early in 2012. AICPA voting members with at least three years working in management accounting or a financial management role would qualify for an accelerated route to obtaining the new designation. CIMA members, all of whom hold either an ACMA or FCMA, will be entitled to use the letters ACMA CGMA or FMCA CGMA if they wish to.
Those holding the new designation will commit to a program of developing and maintaining competency in management accounting as well as leadership and strategy. This knowledge base will be derived from an expert-panel assessment of skills and competencies needed to succeed in various career paths in management accounting.
The new CGMA will be issued by the AICPA and CIMA through a license with the joint venture, with membership remaining with the existing organizations.
So, anyone interested?
[via AICPA, CIMA]
The AICPA and the London-based Chartered Institute of Management Accountants (CIMA) are proposing forming a joint venture to develop and promote a new global management accounting designation. The joint venture is designed to give management accounting a higher profile in the United States, advance the science of management accounting worldwide, and promote the U.S. CPA designation as a worldwide standard of professional excellence in accounting, according to a press release from the organizations. [JofA]