CMA Designation Celebrates 30th Anniversary

The Institute for Management Accountants is celebrating a milestone of sorts this month - the thirtieth anniversary of the first testing to award the Certified Management Accountant (CMA) designation.

It was December, 1972. President Nixon had just won a landslide victory over George McGovern. The Apollo space program was coming to an end. The Watergate scandal was just a few months old. And years of efforts started by the National Association of Accountants to create a comprehensive certification program to test the knowledge of the management accountant culminated in the first test given to over 400 management accounting candidates in 22 cities.

In the 30 years since, the Institute of Management Accountants has awarded 24,650 CMA designations. In 2002 alone, more than 4,650 candidates have taken the test in approximately 300 locations around the world.

According to the IMA Web site, the CMA certification program was designed to meet four objectives:

  • To establish management accounting and financial management as recognized professions by identifying the role of the professional, the underlying body of knowledge, and a course of study by which such 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 the fields of management accounting and financial management; and
  • To encourage continued professional development.

Happy anniversary CMA!

You may like these other stories...

While reputational risk is the No. 1 nonfinancial concern among corporate directors, cybersecurity/IT risk is gaining steam. In fact, both private companies and organizations with more than $1 billion in revenue felt they...
We've all been there. Trying to make our work-lives more efficient, transfer knowledge to newer team members, and leverage our practices. Sometimes it works, and sometimes, well, the result is embarrassing at best.Here...
From May 20-23, the Association for Accounting Marketing (AAM) held its annual conference. Frequent contributor Sally Glick picked up some ideas that she will be sharing with us in the coming days, as she has done in...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.