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The World Class Professionals Come From Institute Of Management Accountants

The Institute of Management Accountant (IMA) is the leading organization in the world that is fully dedicated to empowering management accounting and finance professionals necessary to drive business performance. It is a professional organization headquartered in Montvale, New Jersey. At the time, it consists around 60,000 members worldwide with 85% in US and 15% International. This organization is dedicated to advancing the role of the management accountant and financial manager for the business organization, and accredit them relevant professional certification.

This institute was founded in 1919 with the vision to be the world’s leading association for management accounting and finance professionals. Its mission is to supply a dynamic forum for management and fiancé professional experts. It helps to develop and advance their careers trough certificate, research and advance their careers with the help of certification, research and practice development, networking and the advocacy of the highest ethical and professional practices. The IMA awards the certified management accountant (CMA) designation in the test centers across the world.

The CMA designation covers some specialized areas, such as:

  1. Business Analysis: it includes business economics, internal control, global business, financial statement analysis and quantitative methods. 
  1. Management Accounting and Reporting: this task includes budget preparation, cost and information management, performance measurement, external financial reporting.
  1. Strategic Management: here IMA provides strategic marketing and planning, corporate finance, decision analysis, and investment decision analysis. 
  1. Business Application: it includes all of the above topics along with organization management, organization communication, ethical consideration, and behavioral issues.
The designation of the CMA differs from the certified public accountant CPA. The CMA deals with the internal requirements as well as aims to incorporate the works of financial professionals. Institute of management accountants can serve the professionals by using holistic view of the accounting supply chain. These functions are very important for planning, auditing, tax accounting, forecasting and external reporting. On the other hand, Generally Accepted Accounting Principles (GAAP) includes the standard guidelines of accounting rules for financial accounting and to prepare financial accounting and to prepare financial statements for private as well as public companies in the country.

There are some valuable publications by the IMA, such as Strategic finance magazine, Management accounting quarterly, CMA connection, Campus connection, IMA online news, IMA education case journal. The institute includes five practice areas like leadership strategic and ethics, strategic cost management, business performance management, technology enablement, finance governance, risk and compliance (EGRC). For the certification, there are CMA exam of a two-part format focusing on the on the critical skills in the field of financial planning, analysis and decision making.