Certified Management Accountant offered by the Institute of Management Accountants

Document Type:Research Paper

Subject Area:Accounting

Document 1

The history of the organization The Institute of Management Accountants has a very broad history which covers the last 100 years when it was initially formed. It has been a champion of financial professionals as well as management accounting in financial institutions more so in the accounting department, this organization was initially founded in 1919 in Buffalo New York (Schaltegger et al 2017). Its successful transformation, as well as the unwavering commitments, are what has to lead this organization to this far, it is now a century since the organization was founded and it is becoming day by day as per the economic fluctuations as well as the increasing transformation of the accounting tools. The organization started as a National Association of Cost Accountants (NACA) whose main aim was basically to promote professionalism and knowledge among the participating cost accountants as well as ensuring that they are capable of handling all financial problems and professionally being able to face them without hesitation (Van et al 2005).

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The accounting sector is indeed one of the most delicate departments in any organization and it is of utmost importance for the manpower to be empowered and equipped with the necessary skills. the organization annually revise its syllabus regularly to ensure that it is up-to-date and the content which is aimed to be passed to the professionals do not go against the business targeted skills. According to the recent survey, employees who are certified with this body are well received by companies and according to their salary scales they are normally the most preferable and highly remunerated due to the knowledge gained from the Institute of Management Accountants (CMA) (Rayburn 1993). The organization hence plays a vital role which is being the leader of the modern financial management systems, its purpose is to enable and empower the accounting practitioners with the market required skills for their operations.

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CMA enjoys the best representations globally due to their most aggressive and resilient power which they have already obtained in the market hence the best that the organization could do is to be more and more inclusive. How to Obtain Certification Certified Management Accountant (CMA) like any other examination body has its strict rules and regulation which are aimed at ensuring that the certified individuals meet the set standards hence that is the major consideration that the body consider before certification. Each paper in Part one is normally assigned 4hrs of 100 questions and two essays which should be completed and meet the cut mart. Part 2 of the CMA examination covers financial decision making which also has some sub-topics and units which include financial statements, corporate finance, decision analysis and risk management, investment decisions and professional ethics.

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Each of this units are examined by the body which gives a detailed examination of each part hence providing the grades as outlined In the course outline, you must have done and answered at least 50% of all the questions in the question paper for the examiner to have a look at your paper and award grades otherwise this would lead to total failure at the end of the day (Rayburn 1993). The paper just like part one is assigned 4 hours to complete and answer in one session, there are a total of 100 questions in the question paper and the 2 essay questions which are as well need to be correctly answered. The candidates are assumed to have the full knowledge of what the exam entails and the rules of the examination hence they are not oriented before the examination.

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