Institute of Management Accountants
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| Abbreviation | IMA |
|---|---|
| Motto | The Association of Accountants and Financial Professionals in Business |
| Headquarters | Montvale, New Jersey, US |
| Membership | 70,000 |
| IFAC member since | November 2013 |
| Website | www |
The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey, United States. The organization also has offices in Zurich, Switzerland; Dubai, UAE; and Beijing, China.
IMA members work in business, with job responsibilities distinct from those in public accounting. IMA raises awareness of management accounting, which includes jobs in decision support, planning and control positions.
With a network of more than 70,000 professionals, IMA provides certification, the Certified Management Accountant (CMA), for internal financial management responsibilities, including planning, budgeting, business reporting, decision analysis and risk management. Members can achieve career development through access to one of IMA's 200 local chapters, online professional communities, continuing education, information and resources.
The Institute of Certified Management Accountants (ICMA), the certification division of IMA, awards the Certified Management Accountant (CMA) certification. This covers four areas: financial planning, analysis, control, and decision support. The CMA assesses competency of internally focused accounting skills and is appropriate for professionals working in large, small, publicly traded and privately held enterprises, not-for-profit organizations, academia, and government. More than 37,000 professionals in the U.S. and around the world have earned the CMA since the program was introduced in 1972.
The CMA exam has two parts. Part 1 covers Financial Reporting, Planning, Performance, and Control. It includes: External Financial Reporting Decisions, Planning, budgeting, forecasting, performance management, cost management and internal controls. Part 2 covers Financial Decision Making and includes financial statement analysis, corporate finance, decision analysis, risk management, investment decisions & Professional Ethics. The worldwide pass rate for the exam is 35% for Part I and 49% for Part II in 2014.
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