Chartered Global Management Accountant ( CGMA ) is a professional management accounting designation issued beginning in January 2012. The Chartered Global Management Accountant's mission is to promote the science of management accounting on global stages.
19-493: The Chartered Global Management Accountant (CGMA) is the most widely held management accounting designation in the world with more than 137,000 holders. It recognizes professionals who have advanced proficiency in finance, operations, strategy and management and is underpinned by global research to maintain relevance with employers, and develop competencies most in demand. The CGMA designation is specifically for certified public accountants specializing in management accounting. Two of
38-599: A code of practice, a discipline committee and a continuing professional development education scheme. Its governing body is its council, comprising members elected from regional branches. Each of the branches has a committee and is responsible for much of the ' grass roots ' activity. Activity such as qualification development is undertaken from the London head office. In 2011, CIMA left the Consultative Committee of Accountancy Bodies (CCAB). In 2012, CIMA and
57-468: A new form of in-house accountant to provide, in addition to accounts, better analysis of cost and of operations to inform performance management. The new institute soon gained the backing of leading industrialists including, Lord Leverhulme who became its president. Advances in technology and globalisation made business ever more complex over the 20th century and the role of the accountant in business became more significant. It expanded to include provision of
76-630: A partnership between Marconi and Finmeccanica , Finance Director and Deputy managing director of Marconi Electronic Systems and non-Executive Director of the Canadian Marconi Company . When BAE Systems was created in November 1999, King was named Group Strategy & Planning Director. In December 2000 King was appointed group managing director of BAE Systems Customer Solutions and Support . In November 2006, BAE Systems appointed King chief operating officer from 1 January 2007. He
95-451: A wider range of information and the emphasis shifted from accounting to management. The status of management accounting as a distinct branch of the accounting profession was recognised by the granting of a Royal charter in 1975. CIMA operates a standard scheme of qualifying examinations for prospective members. It promotes local education, training and management development operations, and new techniques through its research foundation and
114-739: Is based on the Global Management Accounting Principles, created in 2014 by CIMA and the American Institute of Certified Public Accountants. In 2017, members of CIMA and the American Institute of Certified Public Accountants (AICPA) formed the Association of International Certified Professional Accountants to unite and strengthen the accounting profession globally. CIMA has two grades of full membership: A CIMA Associate or Fellow
133-518: Is focused on accountants working in industry and provides ongoing support and training for members. CIMA is one of the professional associations for accountants in the UK and Ireland. Its particular emphasis is on developing the management accounting profession. CIMA is the largest and the oldest management accounting body in the world, with 115,000 members and 6,500 CGMA students in 2020. The Chartered Global Management Accountant ( CGMA ) qualification has
152-429: Is permitted to use the suffix letters ACMA or FCMA together with CGMA (Chartered Global Management Accountant) after their name. To be admitted as an Associate, a candidate must have: To become a Fellow, a candidate ACMA must, in addition, have appropriate experience at a senior level. In the past, CIMA has offered forms of association that do not amount to full membership, for example, an "Affiliate" membership class
171-559: The British Standards Institute codifies a universal framework for best practice in decision making. Organisations including Sky, The Environment Agency, Fujitsu, the NHS and Siemens had input into its development. It is designed as a best-practice guide to management accounting, allowing organisations to benchmark their finance function and unlock the full contribution that management accountancy can make. The specification
190-492: The American Institute of Certified Public Accountants created the CGMA designation (Chartered Global Management Accountant). The designation recognises the most talented and committed management accountants. The CGMA is the most widely held management accounting designation in the world with more than 150,000 designees; it is educationally equivalent to a master's degree. The designation is built on extensive global research to maintain
209-750: The CGMA through the AICPA Pathway. Those who live in Europe, the Middle East, Asia/Pacific or Africa would obtain the CGMA through the CIMA Pathway. Chartered Institute of Management Accountants The Chartered Institute of Management Accountants ( CIMA ) is the global professional management accounting body, based in the United Kingdom. CIMA offers training and qualification in management accountancy and related subjects. It
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#1732780653046228-573: The academic standing of a master's degree in the UK (recognised at Level 7 by NARIC ). CIMA was formed in March 1919, as the Institute of Cost and Works Accountants, by a group of legal professionals and businessmen who wanted to develop an approach to accounting that would meet the demands of a rapidly changing business world. Industrialisation had led to large scale, complex businesses providing unprecedented challenges in management. Employers needed
247-405: The dissemination of management accounting practices through publications and other media related activities. It publishes a monthly journal, supplied free to members and registered students, called 'Financial Management'. CIMA is recognised as a professional accounting body for various statutory purposes by UK and various overseas governments. The institute regulates the activities of its members by
266-646: The highest relevance with employers and develop the competencies most in demand. CGMA professionals are business strategists who can link the board's objectives with those of organisation's, guiding critical business decisions and creating sustainable business success. In 2014, CIMA, with the American Institute of Certified Public Accountants, launched the Global Management Accounting Principles. The Principles were endorsed by UK business leaders including Ian King , Chief Executive, BAE Systems and Howard Orme, Director General, Finance & Commercial, Department for Business Innovation & Skills. The CGMA Competency Framework
285-827: The world’s leading accountancy bodies – the Chartered Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA) – launched the Chartered Global Management Accountant (CGMA) designation in 2012 to meet growing employer demand for finance professionals with an expanded skillset. There are two pathways to becoming a CGMA designation holder, each with education, experience and assessments designed to build on your existing knowledge and career achievements: Those who live in North America, Central America or South America would obtain
304-482: Was also launched in 2014. The framework shows the range of technical, accounting and finance skills that management accountants need to do their jobs and consists of four knowledge areas: Technical Skills, Business Skills, People Skills and Leadership Skills, all underpinned by Ethics, Integrity and Professionalism. In 2016, CIMA sponsored the creation of the world's first management accounting standard: Guide to management accounting principles . The standard, published by
323-642: Was always named as a candidate to replace him as CEO, press reports suggested BAE would prefer an American CEO due to the increasing importance of the United States defence market to the company and the opportunity to make a clean break from corruption allegations and investigations related to the Al Yamamah contracts. However, on 27 June 2008, BAE announced that it had selected King to succeed Turner with effect from 1 September 2008; The Financial Times noted that King's career at Marconi distances him from
342-622: Was promoted in the 1970s. CIMA members have access to a number of strategic alliances, including: Ian King (businessman) Ian Graham King (born 24 April 1956) is a British businessman who was the CEO of BAE Systems from 2008 to 2017. Until 20 June 2014 he was a non-executive director of Rotork plc . He is currently Chairman of Senior plc . BAE Systems was created by a merger of Marconi Electronic Systems and British Aerospace . King joined BAE from Marconi. Previous roles include Chief executive officer (CEO) of Alenia Marconi Systems ,
361-543: Was promoted in what The Financial Times described as "in part... to improve relations with the MoD further". This followed a general improvement in relations since acrimony in 2003. The previous co-COOs were Chris Geoghegan and Steve Mogford . The Independent described King's appointment as COO as part of the "succession battle" to succeed BAE CEO Michael Turner . In October 2007, BAE Systems announced that its CEO Mike Turner would step down from his role in 2008. While King
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