The Chartered Global Management Accountant (CGMA) is a global management accounting designation that recognises the unique role played by men and women at organisations around the world who combine accounting and financial expertise with strategic insight to guide better business decisions. Additionally, it recognises the management accounting experience and expertise of accountants in academia. Created in 2012, the CGMA designation recognises the competencies and expertise of management accountants who are leading the world’s most successful organisations, and teaching at universities around the world, preparing the management accounting leaders of tomorrow. It demonstrates management accounting expertise in such areas as leading strategically with management to make more informed decisions; helping organisations manage change, risk and uncertainty; protecting corporate assets; and promoting operational efficiency and effectiveness.
What is management accounting? Management accountants combine accounting and financial expertise with strategic insight to guide better business decisions. They understand both financial and non-financial data and continually integrate information from across an enterprise to help achieve organisational objectives. Management accountants are business professionals at the heart of decision-making, who “connect the dots” and recognise how the different parts of the business need to come together to create value. They help their colleagues understand income and costs, and risks and opportunities. Their understanding and experience of business goes well beyond financial accounting; they are trained to monitor and oversee all performance and focus on the organisation’s future prospects by using a wide range of information. Some management accountants work in the finance department. Many put their broader business training to use across the business, culminating in board roles such as chairman and CEO.
Who are CGMA designation holders?
CGMA designation holders are business strategists who apply non-financial, qualitative information along with financial analysis to understand all aspects of business. CGMA professionals may work in finance, or may put their broader business training to use across the organization, often in the roles of Board Director, Chairman, CEO or CFO. CGMA holders are on the front lines of business and are responsible for helping businesses in a number of ways, including:
developing business strategy;
protecting corporate assets;
supporting the management of risk and uncertainty;
communicating with key stakeholders;
managing relationships – internal and external;
assuring high organizational integrity; and
making sound investment choices.
CGMAs are characterized by their discipline and commitment to sharpening their skills and adhering to a code of conduct and ethics. They understand and are committed to helping organizations correlate and understand financial and non-financial information across multiple functions so the business can maintain growth and perform more efficiently. CGMA designation holders are trusted to guide critical business decisions and ensure strong business performance. CGMA designation holders also include the educators who conduct research in management accounting and related disciplines and accounting faculty who meet certain experience requirements. CGMAs in academia are recognized for their contributions to the profession, their research and industry experience, and for preparing students for careers in finance and accounting.
What does the establishment of the CGMA designation mean for me as a professional? Obtaining the CGMA designation means you are now part of a global network of distinguished finance professionals and academics who have advanced proficiency in finance, operations, strategy and management. This enhanced network creates a forum for promoting the value that management accountants can add to an organization, boosting your career prospects throughout the world. CGMA designation holders are eligible for a variety of member benefits, including exclusive tools, research and resources from the Association of International Certified Professional Accountants (the Association).
Why was the CGMA designation created? The CGMA designation was created by the Association of International Certified Professional Accountants to increase the recognition of management accounting worldwide. The CGMA designation serves as complement to the U.S. CPA and helps AICPA and CIMA members stand out as leading management accountants. CGMA designation holders benefit from the enhanced professional reputation, access to a valuable peer community and lifelong learning and development through the tools, research, and resources available to members.
How many CGMA designation holders are there? There are over 137,000 CGMA designation holders in the world and over 50,000 in North America. Thousands of organizations around the world, from the largest multinational companies to the latest entrepreneurial start-up, in both the public and private sectors, recognize the value of the CGMA designation, and rely on CGMA for the training and development of their finance leaders. Companies rely on the CGMA designation to ensure that they have the critical knowledge, skills and experience to achieve their business objectives. CGMAs are active in every industry and every sector, driving businesses forward. Recruiters such as Robert Half International now quote CGMA as a credential in demand amongst corporations.
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