5 Critical analysis for senior and middle level finance ... Brochure.pdf · The ertified anagement ccounting Program C M A 5 Critical analysis for senior and middle level finance

The ertified

anagement ccounting

Program

CMA

5 Critical analysis for senior and middle level finance executives

]Does this apply to you

*I feel I am losing relevance

*I don’t want to be just a scorekeeper

*I am frequently called upon to provide decision analysis information to the Board

*My management accounting knowledge is not up to date

*My job has become more specialised, I have not

If you have ticked any of the above statements; you seriously

need to upgrade your skills

The Certified Management Accounting Program protects your career by giving you the

competitive edge

Read

on

>>

ICMA’s Committee & Board

Executive Committee

President Mr. Leon Duval MBus(Acc), ACA, CMA

Vice President Mr. Derek Maulin FCMA, CMA

Executive Director Mr. Michael Vincent MA, CMA

Secretary Mr. John Ortner MBA, CMA

Treasurer Ms. Roshani Perera FCMA, CMA

Education Prof. Janek Ratnatunga MBA, PhD, FCA, CPA, CMA

Finance Mr. Hans Ferdinand BBus(B&F), CMA

Government Mr. Michael Tse BCom, MCom, CMA

Conferences Mr. Chintan Bharwada BCom, MBA, CMA

Overseas Projects Mr. Geoff Baring MAdmin, CMA

Branches Dr. Erwin Waldmann PhD, MAcc, CMA

Students Affairs Assoc Prof Gweneth Norris BCom, MCom, PhD, CPA, CMA

Ethics Mr. Jehan De Silva MBA, CMA

Membership Mr. Tony Periera BBus(Acc), MBus(Acc), CPA, CMA

Public Seminars Mr. Rishin Kapur MBA, FCA, CMA

Publishing Mr. Sandy Stewart BEng, CMA

Webmaster Dr. Themin Suwardy PhD, BBus(Acc)(Hons), BComp(InfoSys), CPA, CMA

Deputy Executive Director Mr. Chintan Bharwada BCom, MBA, CMA

Education Advisory Board

Convenor:

Prof. Janek Ratnatunga (Monash University)

Australia:

Prof Garry Marchant (Bond University)

Prof. Stewart Jones (University of Sydney)

Prof. Lockman Mia (Griffith University)

Prof. Mohammed Ariff (Monash University)

Dr Richard Whitwell (Central Queensland University)

Dr Gweneth Norris (University of South Australia)

Mr Bill Richardson (Monash University)

Asia Pacific:

Dr Themin Suwardy (Singapore Management University)

Tunku Iskanda (Markhota College Malaysia)

Prof. John Oliga (Graduate School of Management PNG)

Mr Manilka Fernando (Institute of Chartered Accountants of Sri Lanka)

ICMA has Recognised Provider Institutions accross the globe. Please check www.cmawebline.org for more details

About ICMA

How recognized is the ICMA?

Why you should enrol

The Certification Program has four objectives:

The Institute of Certified Management Accountants (ICMA) is a

growing organisation with a vision to attain the status of a premier

body of professionals practising the science of management

accounting.

International Branches

The ICMA has opened branches in a number of states in Australia

and in the following countries and will continue to expand its

presence in the future

Hong Kong United Kingdom Indonesia Lebanon

Malaysia Philippines Singapore Sri Lanka

India Nigeria Papua New Guinea

The ICMA is registered under the Associations Incorporations Act 1981 (Vic.) with members entitled under its Rules to use

the post-nominals ‘Certified Management Accountant (CMA)’, ‘Associate Management Accountant (AMA)’, ‘Graduate

Management Accountant (GMA)’ and ‘Management Accounting Affiliate (MAA)’ .

True “recognition” is, however, only earned in the market. As a new body, having just over 2,000 members (with 650 CMAs),

it is already well recognised in its niche market, as a specialist qualification for qualified 'generalist' accountants who are

interested in pursuing a career in Management Accounting.

Acquire the relevant skills and information that will allow you to build quality business practices inside your organsiation and

set you apart in today's competitive marketplace.

Attend a program which has been benchmarked against the best and most advanced Management Accounting programs

available globally.

Establish yourself as a strategic operations-focused professional committed to lifelong learning and positioned for long-term

success.

Network with colleagues and discuss the issues that affect you today.

]To establish Management Accounting and Financial Management as recognised professions by identifying the role of the

professional, the underlying body of knowledge and a course of study by which this knowledge is acquired

]To encourage higher educational standards in the Management Accounting and Financial Management fields

]To establish an objective measure of an individual's knowledge and competence in Management Accounting and

financial management

]To encourage continued professional development

MAs are important assets in all types of organisations. They analyse Coperating results, review performance,

conduct strategic audits, and resolve issues that enhance the strategic objectives of the organisation. CMAs appreciate the business approach for managing customer value, formulating strategies and valuing equity. CMAs are value creators, not merely accountants focused on compliance issues.


Pathway to CMAPathway to CMA

Under ICMA’s 10 year rule, senior executives who attend the all CMA seminars can apply for exemption from examinations; provided they have more than 10 years of relevant professional experience

* ICMA’s 10 year rule

AMA or Qualified Accountants

Undertake the CMA Program

Unit 1: Advanced Management Accounting Topics Covered:

Management control systems, Production and quality management in modern firms, Cost accounting and cost management in a Just-in-Time environment, Management accounting in modern firms,

Benchmarking, Re-engineering with Activity Based Costing, Customer Profitability Analysis, Process control and Activity Based

Management, Implementing re-engineered cost analysis and control systems, Re-engineering management control systems,

Triple Bottom Line accounting, and Corporate governance and the management accounting

Unit 2: Advanced Strategic Management Accounting

Topics Covered: Corporate strategy in modern firms, Marketing and strategic management accounting, Accounting for marketing product management, Management Accountant's role in the pricing

decision, Financial dimensions for pricing in international markets, Accounting for promotion: Push strategy, Accounting for promotion:

Pull strategy, Management Accountant's role in the place-distribution decision, Performance and strategic financial structures,

Strategic value analysis, Corporate radar and early warning systems, and Balanced Scorecard

CA, CPA, Accounting Degree holders, and more than 3 years of relevant expedience

Certified Management Accountant (CMA)

Sit for CMA Exams or Apply for Exam Exemption*

Apply for CMA membership

Qualified Accountants who attend the all CMA Seminars and have more than 5 years relevant experience


#Program Leaders

Professor Leon Duval

ACA, CMA, M Bus (Acc)

Leon Duval is currently the managing partner for Duval Partners a multi discipline

Chartered Accounting Firm. He is also Chairman of the Duval Partners Technology

Management Committee, a consulting business initially developed by the Chartered Firm,

now operating as an independent business unit.

Over the last fifteen years Leon has been actively involved in both developing and

delivering seminars, workshops and programs for major companies in Australia, New

Zealand and throughout the Asia Pacific region . He was also a member of the technical

group which developed a Management Accounting Module for the Professional Year

Program of the Institute of Chartered Accountants and one of its authors for a five year

period.

An experienced lecturer in the tertiary education sector he has taught courses in both

Advanced and Strategic Management Accounting for Monash University and the Mount Eliza MBA programs. In recognition of his

services to the Accounting Profession, Leon Duval was awarded a Centenary Medal by the Commonwealth in 2000.

One of the driving forces behind the establishment of the AIFM, he was appointed its founding Dean and charged with the task of

firmly establishing the Institute as a Centre of teaching and training excellence.

Professor Janek Ratnatunga

MBA, PhD (Bradford), Dip.Mkt, FCA, CPA, CMA,

Professor Ratnatunga was appointed a full professor at Monash University in 1990.

Among the senior positions he has held at Monash are Associate Dean (Graduate

Studies), and Head of the Department of Accounting and Finance in the Faculty of

Business and Economics. He has also held academic positions at Melbourne

University, Canberra University, Washington University, the University of Rhode Island

and the Robins School of Business at the University of Richmond in the USA .

He is currently the Editor of the Journal of Applied Management Accounting

Research and has been on the Editorial Boards of the Australian Accounting Review,

Accounting Research Journal, Small Enterprise Research Journal, Total Quality

Management Journal, Asia Pacific Journal of Quality Management, Journal of

Accounting and Corporate Governance, and Perspectives in Contemporary Auditing.

Amongst the honorary positions he holds, or has held, are Research Professor, International Technology and Economy Institute,

Shanghai Branch People's Republic of China, Vice President of the Victorian Branch of the Chartered Institute of Management

Accountants, Chairman of the Education Committee of the Institute of Certified Management Accountants, and Member of the

Executive Advisory Board of the World Association for Case Research and Application (WACRA) in Boston, USA.

Professor Ratnatunga has authored/co-authored twenty-three books on strategic cost management, entrepreneurship, financial

accounting, accounting theory and financial modelling, and over 100 academic and professional papers.

He has consulted to a wide variety of organisations in Australia and South-East Asia , especially in the areas of cost management

systems and financial planning and analysis, including Unilever, Telstra, Hong Leong Group, Telekom Malaysia Oberoi Hotels and the

Australian Department of Defence.

He holds a PhD and MBA from the University of Bradford.

# ICMA could change program leaders based upon area and avaliabilityin accordance with RPIs


CMA9001: ADVANCED MANAGEMENT ACCOUNTING

Unit Leaders: Please check with ICMA or RPIs for details

Objectives: This unit is designed to equip participants with in depth knowledge and the confidence to implement the new tools available to the

management accounting professional. We aim to equip participants with the ability to manage change in a rapidly evolving business environment.

Synopsis:

=This program provides participants with an in depth understanding of the multiple dimensions of the control process

=It illustrates how the principles of control developed for a traditional production facility can be applied effectively into service environments

=Significant time is devoted to developing an understanding of modern cost models and how they can be applied to support strategic decision

making

=The problems associated with change management and implementing process change are examined in depth

=The unit ends with an examination of the latest innovations in corporate responsibility reporting and the implications for the management

accountant arising out of the global moves towards greater external control over corporate governance

Course Structure: The course is structured into twelve modules all covering different topics some of which are related. Participants receive a

complete file containing lecture notes and selected readings designed to enhance their understanding of the topics covered. Participants who wish

to undertake the examinations will not be required to do any additional research beyond the material in the module handout.

Delivery is via class room style lectures interspersed with a simulation game, video presentations and group work on practical case study

problems.

Assessment: 50% Assignment, 50% Examination

Please check with ICMA or RPIs for details

50% Assignment, 50% Examination

(Open Book exam).

(Students must pass the examination in order to pass the unit)

Unit Co-ordinators:

Objectives: This program introduces participants to the study of corporate strategy, product portfolio management, marketing and pricing. Using the knowledge gained it then takes participants through the issues required for effective cost management and control within the marketing, sales and distribution functions. The creation of strategic value and its measurement is then examined in addition to the analysis of corporate health as a tool for predicting the potential for business failure. Finally the synthesis between financial and non financial reporting measures through the use of balanced score cards is discussed.

Synopsis:

=This program provides financial managers with the knowledge and the skills to move away from a score keeper role into one that becomes value driven and strategically focused

=It equips participants with sound basic knowledge in the principles of corporate strategy, marketing and product portfolio management and gives them the confidence to become fully contributing members of any team that has a strategic focus and the objective to create additional shareholder value.

=Controlling and measuring the performance of marketing and sales departments can be difficult and politically sensitive. The knowledge derived in this program will allow participants the confidence to initiate and manage projects of this type.

=The program provides participants with the tools required to determine dangerous trends and how to use specialised models in order to assess the risk of failure

=How to create and use different information indices in order to assess corporate performance and fulfil strategic imperatives is also carefully examined

Course Structure: The course is structured into twelve modules all covering different topics some of which are related. Participants receive a complete file containing lecture notes and selected readings designed to enhance their understanding of the topics covered. Participants who wish to undertake the examinations will not be required to do any additional research beyond the material in the module handout. Delivery is via class room style lectures interspersed with video presentations and group work on practical case study problems

Assessment:

! (Open Book exam).

(Students must pass the examination in order to pass the unit)

CMA9002: ADVANCED STRATEGIC MANAGEMENT ACCOUNTING


DAY ONE:

Topic 1: Management Control Systems

The role of accounting is often stated to be providing information for decisions. Management accounting, however, fulfils a much broader role in organisations. As well as providing a framework for planning, management accounting has an important role in management control. This topic introduces the concept of management control and considers the role of management accounting within such a control framework. The design of management accounting systems is also considered.

Topic 2: Production and Quality Management in Modern Firms

This topic introduces the traditional production management techniques and strategies. The 5-P’s of production are specifically considered; i.e. the product, plant, process, program, and people. The three traditional types of production; i.e. Job; Batch; and Flow production are also studied, and concepts such as quality and reliability are also introduced. Modern production management techniques originating from Japan, such as Flexible Manufacturing Systems (FMS); and Total Quality Management (TQM) are also considered.

Case Study on Production and Quality: Clean Shaven Inc.

Group Exercise on Production: Simulation of Production Function

Topic 3: Cost Accounting and Cost Management in a JIT Environment

This topic continues to look at production management techniques and strategies, especially the more modern production philosophies originating from Japan, such as Just-In-Time production (JIT). The strategic management accounting issues raised by such philosophies and techniques and aspects of the influence of the philosophy on production and purchasing are also covered.

Case Study on Accounting for JIT Environment: Silicon Valley Computer

Topic 4: Management Accounting in Modern Firms

This topic overviews the complexity that exists in modern industrial settings, and why the conventional management accounting techniques may provide misleading information in such environments. It is shown that indirect costs make up the largest percentage of total costs in such complex firms, and that there are many challenges in allocating such indirect costs. Methods of identifying “obsolete” cost systems and of improving cost control are also discussed.

Case Study on Target Costing: Phraud Car Parts Company

DAY TWO:

Topic 5: Benchmarking

This topic discusses in depth “benchmarking”; which is the formal process of measuring and comparing a company’s operations, products, and services against those of top performers, both within and outside that company’s primary industry.

Topic 6: Activity Based Costing

This topic focuses on the principles of Activity Based Costing (ABC), which is shown as the response to the challenge of complexity. Aspects such as “volume”, “structural” and “introductory” costs are specifically considered.

Case study on ABC: The Mellow Company Case Study

Topic 7: Customer Profitability Analysis

This topic moves the focus from analysis to action. Methods of finding profitable customers and products are considered, as is the area of account management

Case Study on Customer Profitability Analysis: Bills and Moon Co.

Topic 8: Process Control and Activity Based Management

Here the areas of process control and activity based management are discussed. Monitoring systems, and the concepts of frequency, timeliness and accuracy are considered, especially in relation to white-collar departments.

Case Study on ABM: Dilbert Laboratories

DAY THREE:

Topic 9: Implementing Re-engineered Cost Analysis and Control Systems

This outlines the implementation process of activity based costing. Behavioural aspects, especially in creating motivation are discussed. Long-term cost management models are also considered.

Case Study on ABC Implementation: Oakley Paints

Topic 10: Re-engineering Management Control Systems

Strategic approaches such as “product differentiation” and “cost leadership” are considered in re-engineering management control systems especially via the linking of overall performance to financial and non-financial measures.

Topic 11: Triple Bottom Line Accounting

Triple bottom line accounting is changing the way organisations go about their business. This topic explores what is meant by the "triple bottom line" and what it means for organisations, now and in the future.

Topic 12: Corporate Governance: The Role of the Management Accountant

This topic overviews the corporate governance structure which specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs.

All participants are provided with:

Study material, tea/coffee, and working lunch

ore than 5000 Middle and Senior Mfinance professionals

have upgraded their skills by attending the CMA program

CMA9001 Advance Management Accounting


DAY ONE:

Topic 1: Corporate Strategy in Modern Firms

This topic overviews the concepts and development of strategic planning in modern business enterprises. The traditional areas of corporate strategy; such as mission statements, objectives, and strategic planning decision models are first introduced to the student. The state of strategic thinking in the current environment is then considered, especially in relation to strategic management information systems.

Topic 2: Marketing and Strategic Management Accounting

Here the marketing concept is introduced and the links between marketing and strategic management accounting are illustrated. It is shown how concepts such as the product life cycle and product portfolio matrix are linked to managerial accounting techniques such as budgeting and life-cycle costing to provide relevant information for strategic decision making.

Comprehensive Case Study on Accounting for Strategic Marketing:

The Roxor Watch Company: Case Study Analysis and Group presentations

Topic 3: Accounting for Marketing Product Management

This topic looks at the interface between management accounting and marketing related “product management” especially in competitive environments. The “product” is the first “P” in the 4-Ps of marketing, the others being price, promotion and place distribution, which will be discussed in detail in later topics. It is shown that as a product moves through various stages of its life-cycle, there are differing financial aspects that need to be focused on for competitive positioning. It is demonstrated that the company’s management accountant possesses the tools and techniques required to provide the product managers with decision-orientated information.

DAY TWO:

Topic 4: The Management Accountant’s Role in the Pricing Decision

Here the various aspects of pricing decisions are covered, especially in competitive environments. Pricing Methods and Pricing Strategies are specifically contrasted, and the use of such techniques as CVP analysis and linear programming in the pricing area are discussed. This topic also covers risk averse pricing strategies and their limitations.

Comprehensive Case Study on Accounting for Pricing:

Case Study on Pricing: ePrecision Manufacturing Company

Topic 5: Financial Dimensions of Pricing in International Markets

This topic extends the discussion of the previous section on pricing, and considers within a competitive international market. It is shown that setting a selling price in a foreign market has, in addition to strategic marketing considerations, some unique international financial dimensions, especially due to the lengthening of the channels of distribution and the impact of multiple currencies.

Topic 6: Accounting for Promotion: Push Strategy

Here the principal ways of communicating with the market, referred to collectively as the “promotional mix” are overviewed. The objective of this mix is to make a sale, either by “pulling” customers towards the product (using advertising) or by “pushing” the product to the customer (using personal selling). It is shown that the management accountant has a significant role “push strategy”, especially in controlling field sales operations, and evaluating sales force performance.

Comprehensive Case Study on EmpeeThree, Inc.

DAY THREE:

Topic 7: Accounting for Promotion: Pull Strategy

This topic continues with the discussion on promotion, and specifically looks at “pull strategy” with its heavy reliance on advertising. It is demonstrated that the management accountant has a significant role in formulating advertising budgets, especially using specific budget models, and in the difficult areas of controlling advertising outlays and evaluating advertising effectiveness.

Comprehensive Case Study on Accounting for Promotions:

Suave Case Study Analysis and Group Presentations

Topic 8: The Management Accountant’s Role in the Place - Distribution Decision

This topic considers the last “P” of the 4-P’s of marketing; i.e. place (or physical distribution). It is shown that the control of the distribution function involves a “trade-off” between maximizing customer service and minimizing distribution costs, and that the management accountant has a significant role to play in achieving this balance. The various accounting techniques useful in distribution cost analysis and control are highlighted in this topic.

Topic 9: Performance and Strategic Financial Structures

Financial Performance Indicators, especially the ROI measure is considered in depth, and cost of capital definitions and computations are evaluated in this topic. The impact of financial structure on planning performance evaluation is also considered, specifically capital structure and its role is obtaining an appropriate discount rate for capital projects.

Exercises on Matlock Company and Miller Modigliani, Ltd.

DAY FOUR:

Topic 10: Strategic Value Analysis

The use of “value-drivers” is considered in the linking of corporate strategy with financial performance measures. Aspects such as “free-cash flow”; “continuing value” and “business value” are specifically considered.

Case Study on Strategic Value Analysis: The Rappa Port Authority

Topic 11: Distant Early Warning Systems

Short-term (weekly) and long-term (annual) corporate radar systems are considered, in order to determine the health of one’s business organization. Bankruptcy prediction models (such as Z-scores) are specifically considered.

Case Study on Early Warning Systems: Maxwell Communications Company

Topic 12: The Balanced Scorecard

A “balanced” view of the corporate scorecard is considered, incorporating strategic and tactical; internal and external; financial and non-financial; and past and future oriented key-performance indicators.

CMA9002 Advance Strategic Management Accounting

ompleting the CMA program gives you an opportunity to gain Cmembership as a Certified

Management Accountant with ICMA.


Application for direct membership as an AMA Grade of membership to be considered: Annual Subscription

(Degree or Professional Qualification in Accounting and 3 years relevant experience)

*(Degree or Professional Qualification in Accounting, completion of CMA Program and 5 years relevant experience)

R AMA - Associate Management Accountant AUD $154.00

CMA Certified Management Accountant AUD $187.00

Applicant Information

Contact Details

Title: Preferred Name(s):

First Name: Middle Name(s):

Last Name(s): Date of Birth:

Mailing Address:

Suburb: City:

State: Code: Country

Home: ( ) Work: ( )

Mobile: Fax: ( )

Email:

Employment Details

Employer Name:

Employer Address:

Date of Appointment:

Post Held

Current Occupation

Brief Outline of Duties and Responsibilities:

You must provide your Curriculum Vitae detailing information of the management accounting experience that you think will be of significance to your application, eg. work in reporting to management; financial management; information systems; financial modelling; internal auditing; pricing; logistics; cost analysis etc. ICMA does not regard compliance based accounting experience and taxation work as constituting management accounting experience (These must be detailed in attached CV)

Latest Education Summary

Qualifications Institution Year

1

2

[Please provide transcripts of Awards Obtained]

Acceptance of the rules

I ______________________(name) desire to become a AMA (grade of membership) member with the Institute of Certified Management Accountants. In the event of my admission as a member, I agree to be bound by the Rules of the Institute of Certified Management Accountants for the time being in force.

Signature of Applicant: Date:

Application Fee Payment of AUD $27.50 by (please tick):

� MasterCard � Bankcard � Visa � Amex

� Cheque (payable to Institute of Certified Management Accountants, Australia)

Card No. __ __ __ __ - __ __ __ __ - __ __ __ __ - __ __ __ __

Cardholder:

Expiry date:

Signature:

Please read information on the back side before submitting this formPlease use a Black pen to complete this form

Professional Membership

1 No.

2 No.

CMA Exam Exemption Form

Applicant Information

Contact Details

Title: Preferred Name(s):

First Name: Middle Name(s):

Last Name(s): Date of Birth:

Mailing Address:

Suburb: City:

State: Code: Country

Home: ( ) Work: ( )

Mobile: Fax: ( )

Email:

Employment Details

Employer Name:

Employer Address:

Date of Appointment:

Post Held

Current Occupation

Brief Outline of Duties and Responsibilities:

You must provide your Curriculum Vitae detailing information of the management accounting experience that you think will be of significance to your application, eg. work in reporting to management; financial management; information systems; financial modelling; internal auditing; pricing; logistics; cost analysis etc. (These must be detailed in attached CV)

Latest Education Summary

Qualifications Institution Year

1

2

[Please provide transcripts of Awards Obtained]

Acceptance of the rules

I __________________________________ (name) agree to be bound by the rules of the Australian Institute of Finance & Management for the application of exam exemption. I confirm that all the information provided or attached with this application is true and correct.

Signature of Applicant: Date:

Exemption required for: (Please tick)

____ ADVANCED MANAGEMENT ACCOUNTING

____ ADVANCED STRATEGIC MANAGEMENT ACCOUNTING

Professional Membership

1 No.

2 No.

Do I have to sit exams to become a CMA? Yes, it is one of the

prerequisite to attain CMA membership. However, if you are a

qualified accountant, and have over 10-years relevant experience

you may be exempted from having to sit for exams (under ICMA's

10-year rule). You still have to attend and follow the CMA program

or all 7 CMA Seminars when it runs, even though you don't have to

sit the exams.

&

&You can also submit your application to ICMA

Recognised Provider Institutions (RPI) in your area. For more information please see:

www.cmawebline.org/providers/recognized_providers.html

Please complete this form using a typewriter or write your responses in BLACK ink using BLOCK CAPITAL LETTERS. If there is insufficient space continue on a separate sheet if necessary. Do not send any original documents with this form. The Institute will retain all materials sent with this form. Please send A$27.50 by Cheque, Bank Draft, or Credit Card details) with this application as a non-refundable application fee. Do not send any other subscription fees money at this stage. You will be invoiced a Joining Fee of A$55.00 for all classes of Members directly by the ICMA if the Membership Committee accepts your application for membership

Application for direct membership as an AMA

Membership Benefits:

]Membership Certificate recognising qualifications and experience in the specialist field of management accounting

]The use of post-nominals in the CMA, AMA, GMA and MAA membership categories

]Up to 6 credit exemptions in many Australian and overseas MBA programs for those successfully completing the Institute's Education Program

]Twelve issues per year of the world-class management accounting magazine "Strategic Finance", published by the Institute of Certified Management Accountants (USA)

]Full access to the CMAWebline.org with links to all associated management accounting web pages around the world

]Institute's newsletter On Target

]Access to the Institute's commissioned research publications in JAMAR

]Participation in branch and center activities

]Access to a range of Continuing Professional Development opportunities in the leading edge topics of management accounting

]Access to membership in special interest groups

]Networking opportunities with management accounting academics and professionals around the world

(For Official Purposes Only: Do Not Complete)

Application Received On:

Education Membership Consideration On:

Approved Membership No:

Not Approved Reason:

Applicant Informed of Decision On:

ICMA- Invoiced On:

Date Membership Fees Received:

Date Membership Certificate Posted:

CMA Exam Exemption Form

(Emailed and Faxed applications ARE NOT ACCEPTABLE and they will be ignored)

Return this application along with all supporting documentation to RPI or ICMA head office

- In Person or by Post -

Institute of Certified Management Accountants

CMA House, Monash Corporate CentreUnit 5, 20 Duerdin Street

Clayton North, Victoria 3168 AUSTRALIA

General Enquries - Tel: 61 3 95447913 Fax: 61 3 95447299

More information: email: [email protected]

(For Official Purposes Only: Do Not Complete)

Application Received On:

Education Membership Consideration On:

_____ Approved _____ Not Approved

Applicant Informed of Decision On:

You can also submit your application to ICMA Recognised Provider Institutions (RPI) in your area. For more info please see: www.cmawebline.org/providers/recognized_providers.html

&

You can also submit your application to ICMA Recognised Provider Institutions (RPI) in your area. www.cmawebline.org/providers/recognized_providers.html

(Emailed and Faxed applications ARE NOT ACCEPTABLE and they will be ignored)Return this application along with all supporting documentation to RPI or ICMA head office - In Person or by Post - Institute of Certified Management AccountantsCMA House, Monash Corporate CentreUnit 5, 20 Duerdin StreetClayton North, Victoria 3168 AUSTRALIAGeneral Enquries - Tel: 61 3 95447913 Fax: 61 3 95447299 More information: email: [email protected]

Do I automatically get CMA membership with the

ICMA?

Completing the CMA program makes you eligible for CMA membership

with the ICMA. On successful completion you will then have to apply for

CMA membership with the ICMA by submitting your relevant academic

transcripts and proof of practical experience.

Can I register/study one unit at a time?

Yes, you have the flexibility to take one unit at a time. But you will be

eligible for CMA membership only when you successfully complete both

units.

Can I do the CMA program via correspondence?

No, the CMA program is designed in such a way that face to face contact

lectures are necessary. This ensures that you receive the best quality

input not only from the faculty but also from fellow classmates.

What differentiates a CMA from a CA/CPA?

A Certified Management Accountant is part of the management team,

focusing on business strategy and strategic decision-making. A CMA

understands the business formula for delivering value to the customer,

arriving at strategies for identifying, developing, marketing and evaluating

a product or service throughout the entire life cycle. He or she assesses

the competitive environment and ascertains whether there is a

sustainable competitive advantage. Unlike a CA/CPA, which emphasize

financial reporting, auditing, theoretical applications and after-the-fact

verification, the CMA looks to the future to provide real-world strategic

direction, business management and leadership. A CMA creates value,

instead of just measuring it.

Will I get credit for my professional development hours?

Yes, the CMA program would give you the following credit hours:

18 hours - CMA9001 Advanced Management Accounting, and

24 hours - CMA9002 Advanced Strategic Management Accounting

Is ICMA (Australia) linked to other accounting bodies?

The Institute of Certified Management Accountants (Australia) was set

up with the assistance of the Institute of Management Accountants

(USA)-IMA in 1996. It is, however, an independent Australian body. Its

patrons are Bill Dix, formerly the Chairman of Qantas and Ford, and

Professor John Miller, formerly Director of Consumer Affairs and

President of CPA Australia.

The IMA journal 'Strategic Finance' is distributed to all ICMA members.

The ICMA's research journal, the 'Journal of Applied Accounting

Research' is co-edited by Prof Garry Marchant of the University of

Melbourne and Professor Janek Ratnatunga of Monash University.

It is not linked to any other professional body like CIMA (UK), ACCA

(UK) etc.

If I have a recognized accounting qualification such as

CPA, do I still have to become a GMA or AMA first?

No, you may wish to undertake the CMA Program as a student, and

upon completion, apply for CMA membership directly if you have over 5

years relevant professional experience in Management Accounting.

How do I qualify to become a CMA?

Those with an "Accounting" background (such as an accounting degree,

CA or CPA) need to do 2 specialist electives, which is the CMA

Program, to get the CMA certification as follows:

A. Advanced Management Accounting

B. Advanced Strategic Management Accounting

Do I have to sit exams to become a CMA?

Yes, it is one of the prerequisite to attain CMA membership.

However, If you are a qualified accountant, and have over 10-years

relevant experience you may be exempted from having to sit for exams

(under ICMA’s 10-year rule). You still have to attend and follow the CMA

program when it runs, even though you don’t have to sit the exams.

If I have an Australian TAFE Advanced Diploma, can I still

become a CMA?

Those holders of Australian TAFE Advanced Diplomas in Accounting

need to do four prerequisite (conversion) subjects, before they do the

CMA program. These are:

A. Financial Modelling (Accounting with Excel modelling)

B. Financial Management

C. Management Accounting

D. Financial Statement Analysis

Completion of these four subjects will give you Graduate Management

Accountant (GMA) status, and if you have three years relevant

experience, Associate Management Accountant (AMA) status.

For more information visit: www.cmawebline.org/faq.html

Frequently Asked Questions - The CMA Program

CMA“confidence”


Recognised Provider Institutions (RPI)


From time to time, the Institute grants Recognised Provider Institutions (RPI) status to organisations in branch

locations in Australia and overseas. The following organisations have been authorised to provide training to

both prospective and current members of the Institute.

Australia

The Australian Institute of Finance and Management (www.aifm.com.au)

Wharton Institute of Technology and Science (www.witsgbs.com)

Hong Kong

Institute of Professional Development

India

First Canvas Training Ventures Pvt. Ltd. (www.cmaindia.net)

Indonesia

Indonesian Institute for Management Development (www.ipmimba.ac.id)

MENA

HBS for Certification and Training (www.cmamena.com)

Malaysia

Telekom Training College (www.ttc.telekom.com.my)

Philippines

Business Sense, Inc. (www.cmaphilippines.com)

PNG

Graduate School of Management (Pacific)

Singapore

Alpha Omega Education (www.aoe.edu.sg)

Sri Lanka

The Institute of Chartered Accountants in Sri Lanka (www.icasrilanka.com)

Imperial College of Business Studies (www.cmasrilanka.com)

Further, the Institute has accredited a number of universities to provide in-house training and examinations of

the CMA programe. These universities are as follows:

Monash University

Deakin University

The University of Queensland (Mt. Eliza Business School)

Central Queensland University (CQU)

Griffith University

Macquarie University

Sydney University

University of South Australia

ACU National (Australian Catholic University)

University of Balamand (Lebanon)

Royal Roads University (Canada)

Educatis University (Switzerland)

University of Utara Malaysia (Malaysia)

University of Hong Kong ( Hong Kong)

Jubilee University (PNG)

Documents

5 Critical analysis for senior and middle level finance ... Brochure.pdf · The ertified anagement ccounting Program C M A 5 Critical analysis for senior and middle level finance