The Institute of Management Accountants, also known in the field of accounting as the IMA, is a global association of professional accountants that is committed to promoting professional development in the field. If you are currently studying to become and accountant, or you are a new graduate who possesses an accounting degree, learning about the IMA is critical. With more than 70,000 professional members, the IMA has helped thousands of accountants expand their business while they strengthen their skills and network with peers. If you would like to learn more about the IMA mission and what their role has been in the field since 1919, read on and find out what the institute represents and the tools that it offers.
The IMA Offers the Certified Management Accountant Credential
Many employers searching for a management accountant will not hire a candidate for the job unless they are distinguished and certified. The IMA offers a certification that tests candidates on global competencies so that it will be accepted worldwide. In order to earn your Certified Management Accountant designation, you need to meet the degree requirements, have the appropriate level of work experience, and pass a two-part exam. Once certified, it is necessary to complete continuing education credits to renew your certification. This continuing education requirement ensures that you are keeping up-to-date with industry trends worldwide.
Possessing your CMA credential will make you a more valuable asset in the field of management accounting. Not only does the designation show that you are a competent professional, it also helps you increase your earning potential. Surveys show 63% of CMA’s earn higher salaries than non-CMA’s, according to the IMA Global Salary Survey.
Networking With Fellow CMAs and Members
The IMA believes that peers in management accounting need to be able to network on a global level to build relationships that can really help them in the future. You never know what can happen when you communicate with peers through conferences, study groups, events, and your local chapters. Through the IMA you can reach out to peers on LinkUp to find jobs or meet up with accountants from all over the world at conference sessions.
Access to Leading Publications and Research
To expand your career potential and to expand your knowledge you will need to learn about different viewpoints. The IMA provides access to resources and publications that will expand your expertise and make you a more strategic thinker. You can read through case journals, browse through research data, and read quarterly journals that teach you new and advanced theories and techniques. It is like expanding your financial education without going back to school.
Not only will the IMA help you as a professional in the field, it will also help you as a student and an educator. Management accounting can be a very rewarding field, but you must be willing to commit yourself to your continuing education so that you can keep up with constant changes in the field. While the Institute of Management Accountants requires a fee to join, the benefits provided to members is worth it.