IMA and the CMA How They Can Help Your Career Presented by: Honorable Kim R. Wallin, CMA, CFM, CPA John B. Pollara, CMA 1
IMA and Your Career WE NEED TO INSERT THE VIDEO HERE
Agenda The Institute of Management Accountants (IMA ) IMA Student Membership The Certified Management Accountant (CMA ) Credential Certified in Strategy and Competitive Analysis (CSCA) Careers in Management Accounting Q & A 3
What is IMA?
What is IMA? The leading association dedicated to developing, certifying, connecting, and supporting the world s best accountants and financial professionals in business A network of more than 100,000 members worldwide with 300+ chapters Global office in US; regional offices in China (3), Singapore, Europe (2) and the Middle East Provides best-in-class certification for critical internal financial management responsibilities, including planning, budgeting, business reporting, decision analysis, and risk management 5
How IMA Can Support Your Career
Why Students Should Join IMA Student Chapters a great leadership opportunity! Student Case & Manuscript Competitions Discounted IMA Membership and CMA Exam Fees Career Driver* Annual Student Leadership Conference (SLC) * Scholarships (over $30K awarded each year)* CMA Scholarship Program * * Additional details about these programs are included on upcoming slides 7
Assessment and Career Development Tool
Step 1: Select a Job Role 9
Step 1: Take the Assessment 10
Step 1: View Assessment Report Results 11
Step 2: Sample Learning Resources 12
Step 2: View Development Plan 13
CareerDriver Homepage Step 3 14
Step 3: View Potential Job Role Matches 15
Step 3: View Job Match Report 16
Student Leadership Conference (SLC) 2018 SLC will be held in St. Louis, MO Nov 1-3! Fantastic professional development and networking event for students! Sessions focus on: Early career issues & choices Leadership Accounting topics Learn more at: www.imastudentconference.org Companies will be onsite to hire for internships and full-time positions! 17
Scholarships IMA Memorial Education Fund $1,000 to 2,500 for undergraduates and graduates Stuart Cameron & Margaret McLeod Memorial Scholarship $ 5,000 only one awarded per year and it includes complimentary registration to the annual conference and transportation DEADLINE: March 10, 2018 18
CMA Scholarship Program Top students are recognized with a scholarship that covers all costs with the CMA exam. Open to all students (undergrad & master) Faculty must nominate students Open during the academic year (Sept 1 June 1) *** New in 2017 *** One year of access to Wiley CMA prep materials to all US recipients! 19
Is the CMA for You?
The payoff Mastery of 11 core practice areas in management accounting Career advancement and skills transferability across business functions Earnings premium In the U.S., median total compensation is 28% higher for CMAs over noncertified peers. Globally, it's 50% higher* A 22-year-old CMA could enjoy more than $500,000 in additional lifetime earnings** *IMA US Salary Survey, March 2017 **Gregory L. Krippel and Sheila Mitchell. The CMA Advantage: An Update 21
CMA Exam Content & Structure
KW2 CMA Exam Structure Part 1: Financial Reporting, Planning, Performance and Control Part 2: Financial Decision Making - External financial reporting decisions - Planning, budgeting, and forecasting - Performance management - Cost management - Internal controls - Financial statement analysis - Corporate finance - Decision analysis - Risk management - Investment decisions - Professional ethics Each exam part is four hours in length 100 multiple choice questions, followed by two 30-minute essay scenarios 2015 Institute of Management Accountants. Inside Talk Webinar Series. All rights reserved. 23 #InsideTalk
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Steps to Becoming a CMA
Program Requirements Completion of 2 exams Bachelor s degree from an accredited college or university (in any major) Two years of relevant work experience Active membership in IMA 25
Exam Testing Exam administered at hundreds of computer testing facilities worldwide Three exam testing windows offered each year January and February May and June September and October Candidates schedule exams at their own pace Part 1 and Part 2 can be taken in any order On average, candidates complete the program within 12-18 months 26
KW1 How to Get Started 1) Hold Membership in IMA Regular members (age 33+): $230/year + $15 one-time processing fee Students members: $39/year *** SPECIAL OFFER: Join for just $25 per year! USE CODE: STUCHAP18 *** 2) Pay the CMA Exam Entrance Fee Regular members: $250 one-time fee Student members: $188 one-time fee 3) Register to sit for an exam part Regular members: $415 per part Student members: $311 per part (25% discount; automatic, no code required) 4) Contact IMA Customer Service with any questions 1-800-638-4427 or ima@imanet.org *** Code expires on 12/31/18 *** 27
Slide 27 KW1 Need to update promo code Kim Wallin, 1/11/2018
Why Should Students Pursue the CMA? Students can sit for the CMA exam before they graduate Reduced IMA membership and CMA exam-related fees for students CMA exam tests topics that you study in college courses exam content is fresh in the minds of students Students are more efficient studiers than professionals who have been out of school for many years If you are looking for an advanced certification to build your skills, résumé, and earning potential the CMA is the right choice! 28
CSCA Certified in Strategy and Competitive Analysis
Exam Content Strategic Analysis The strategic planning process Environmental scan Internal analysis Creating Competitive Advantage Strategy Implementation & Performance Evaluation Competitive advantage Strategy in a global context Business-level strategies Corporate-level strategies Functional-level strategies Sustaining competitive advantage Analyzing strategic alternatives Risk management Strategy implementation Strategy measurement and organizational performance Governance Social responsibility Ethics 30
Careers in Management Accounting
Kim R. Wallin, CMA, CFM, CPA President D. K. Wallin, Ltd. Former Nevada State Controller Former Commissioner, Commission on Evidence Based Policy Making Former Global IMA Chair 2003-04 32
John B. Pollara, CMA Retired CEO and Chairman Zieman Mfg. Company Former Global Chair Institute of Management Accountants 2007-08 33
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Q&A www.imanet.org kim@dkwallinltd.com John.pollara@cox.net