The links below will take you to frequently asked questions for CIMA members on the new CGMA designation.
What is the CGMA designation?
Chartered Global Management Accountants (CGMA designation holders) are a different breed of accountant. The CGMA designation recognises the unique role played by men and women in businesses around the world who are redefining management accounting; they have the skills and experience to ‘connect the dots’; to use non-financial, qualitative and predictive data to guide critical business decisions and drive strong performance.
The designation is powered by a joint venture between CIMA and AICPA, two of the world’s most prestigious accounting institutes. It is a ‘game changer’ for the management accounting profession and represents a single global standard. CGMA designation holders commit to a code of ethics and enforcement. They also commit to continuous professional development to ensure they deliver best practice. In creating the CGMA designation we are not just bringing together two of the leading accounting organisations in the world, we are creating a designation which will be relevant in every corner of the globe.
Why was the CGMA designation launched?
Uncertain economic times threaten to stifle business. Business leaders need people with new skills to break through. There is an unmet need and exciting opportunity for skilled people who can bridge the gap between business, strategy and finance. CGMA is a global management accounting designation that demonstrates the skillset needed to meet these challenges and drive sustainable success for organisations around the world. ;
Will there be a special opportunity for managerial accounting professors to obtain this designation?
Anyone can work towards the CGMA designation. Find out how to become a CGMA designation holder.
Is the CGMA designation available to tax professionals?
The CGMA designation is open to everybody once they complete either the AICPA or CIMA qualifications. Find out how to become a CGMA designation holder.
When CGMA assessment starts, will topics be similar to CIMA's?
When it is available in 2015, the assessment for the CGMA designation will test the knowledge and skills needed by CGMA designation holders to drive sustainable business success. This knowledge, and associated skills, can be found in the CIMA syllabus.
Will there be a section for CGMA.org that can be accessed if you are not eligible for the designation?
The website will be open to everyone during the introductory period. After 8 February, 2013, premium content will only be accessible to CGMA designation holders.
Is the CGMA designation connected to International Financial Reporting Standards (IFRS)?
CIMA students are required to have a thorough understanding of the major IFRS, to be able to apply them correctly in various scenarios. IFRS are regularly examined within the financial pillar of the CIMA syllabus.
Will resources be available for different sized businesses and different industries?
CIMA and the AICPA will make available high quality, thought provoking and applicable management accounting thought leadership, research and publications that suit members' needs, including industry-specific topics, where applicable.
What does the establishment of the CGMA designation and the AICPA/CIMA joint venture mean for me as a CIMA member?
The CGMA designation means you are now part of an enhanced network of finance professionals. The joint venture with the AICPA allows us to promote the value that management accountants can add to an organisation, boosting your career prospects throughout the world. With a CGMA designation your value is known all around the world. The new designation will open more doors and present more global opportunities, than any other professional business qualification and allow you an additional way to showcase your expertise in management accounting.
Will my CIMA membership fees increase as a result of the CGMA designation?
No. The use of the CGMA designation and all associated benefits are included in your current membership subscription
Is the US Uniform CPA Examination the equivalent to the CIMA papers in testing the breadth and depth of a candidate's knowledge?
The CIMA and AICPA routes are very similar when you compare the education, experience and examination requirements. The CGMA designation is based upon admission by competence and experience.
What are the continuing professional development (CPD) requirements for maintaining the CGMA designation?
CIMA members will continue to follow the existing CIMA CPD policy and AICPA members will do likewise.
What benefits do I receive as a CGMA designation holder?
CGMA designation holders will be eligible to receive a number of exclusive benefits, including access to the CGMA website which will host numerous jointly-developed resources and content. The CGMA designation is a global accreditation, which demonstrates management accounting expertise in areas such as leading strategically with management to make informed decisions; helping organisations manage change, risk and uncertainty; protecting corporate assets; and promoting operational efficiency and effectiveness. Read more about benefits.
Does becoming a CGMA designation holder make it easier to get a work permit for America?
No. Anyone wanting to work in America would have to follow the normal US immigration procedures.
Which website do I go for my CPD and thought leadership needs?
www.cgma.org will be the main focal point for thought leadership on management accounting.
How does the CGMA designation compare to other management accounting designations (i.e. the CMA)?
The CGMA designation is underpinned by both the CIMA and AICPA qualification and so compares favourably with any other qualification in the world. By combining the memberships, the CGMA designation will be known as the most valued and globally recognised management accounting designation.
Why do I need a new set of letters?
CIMA members do not have to use the letters, but those who do will benefit from the association of this exciting new direction for management accounting. CIMA and AICPA have come together to elevate the profession of management accounting by establishing the CGMA designation as the most valued, globally recognised management accountancy designation with the power o benefit members, students and society as a whole.
Why has CIMA joined with the AICPA to launch the CGMA designation?
CIMA and AICPA are two world leading accountancy institutes. We saw a need for a global quality standard of management accountancy - the CGMA designation - powered by prestigious accounting organisations with global reach. This is a groundbreaking move that will shake up the accountancy profession and provides exciting opportunities for the 250,000 members from the AICPA and CIMA.
Will I be able to conduct an audit if I have the CGMA designation?
Is this the precursor to a merger between CIMA and AICPA?
This is a joint venture between two of the world's largest and most prestigious accounting organisations. It is not a merger and that isn't part of the current plan
What does the success of the CGMA designation look like for CIMA?
CIMA's aim is to promote the science of management accountancy on a truly international scale. The joint venture allows us to promote management accountancy with the backing of the largest accountancy organisation in the US - the AICPA. The aim is for CGMA designation holders to drive sustainable successful businesses and to be thought of as trusted business strategists. CGMA designation holders will produce better managed companies, which leads to better investment opportunities and decisions, resulting in better community benefits, all of which is underpinned by CGMA designation holders influencing government policy at both a local and global level.
Will the AICPA and/or CIMA consider adding other accounting bodies to the CGMA designation program in the future?
There are no plans at present for this but if the joint venture is successful, other options, including partnerships with other accounting bodies, could be considered in the future.
Will I receive a certificate if I enroll in the CGMA?
A CGMA certificate will be available for members to order for a £20 charge. All CIMA members can use the CGMA letters and benefit from the product portfolio without having a certificate.
Can AICPA members vote in CIMA council elections and can CIMA members vote in AICPA elections?
Does the AICPA-CIMA joint venture allow for any joint volunteer committees?
The AICPA/CIMA Joint Venture Board has been established and is responsible for the designation. No new committees or boards are expected.
Does the AICPA-CIMA joint venture have any impact on existing volunteer committees?
There will be a new board overseeing the CGMA designation and no new boards are planned at present. Both bodies will continue to have their own governance structures which will remain the same.
I have a complaint about a CGMA designation holder – where do I go and who administers this?
In the first instance, you should go to the issuing institute of the member. In the US, you should go to the AICPA and in the rest of the world go to CIMA. There will be a section on the CGMA.org website where anyone can submit a complaint about a CGMA designation holder. This complaint will be dealt with by the issuing institute of the CGMA designation holder.
Can I be stripped of my CGMA designation?
Yes, CIMA members cannot use the letters CGMA or ACMA if they a) failed to pay their subscription, b) have their designations removed due to disciplinary action by CIMA
Are AICPA and CIMA members now automatically invited to each other's events?
Events for CGMA designation holders will be listed on the CGMA.org website and all CGMA designation holders, will be welcome to attend. If an event is not listed on CGMA.org, you can contact the local event organiser for further details.
What is the AICPA's investment in the joint venture and CGMA designation?
What is CIMA's investment in the joint venture and CGMA designation?
There are associated costs of developing the CGMA designation. These are being kept to a minimum and will not result in an increase in membership fees. Every year CIMA undertakes new initiatives to help support its members and promote management accountancy. This joint venture is just such an activity.
I already have a management accounting credential from another organisation - am I eligible for the CGMA designation?
No. At present if you wish to become a CGMA designation holder, then you would need to join either CIMA or AICPA. Visit the respective websites to find out which membership options are available to you
I am a US CPA as well as an F/ACMA through CIMA. How do I go about obtaining the CGMA designation?
As a member of both organisations, you are entitled to the CGMA designation from both organisations.
Will the support tools include existing community applications like, LinkedIn, Facebook, Twitter, etc?
Yes, the CGMA designation has a presence on a range of social media networks:
Are CIMA members eligible to take the US Uniform CPA Examination?
CIMA members are welcome to pursue the U.S. CPA if they wish. Those who wish to pursue the US CPA will need to meet the education, examination (the US Uniform CPA Examination), experience and continuing education and ethics requirements required by a US State Board of Accountancy. Please review the National Association of State Boards of Accountancy website for information about the U.S. Uniform CPA Examination and CPA licensure.
Does the AICPA-CIMA joint venture allow for any exemptions surrounding the US Uniform CPA Examination?
Will CIMA members residing in the US be required to become AICPA members to obtain the CGMA designation?
No. They remain CIMA members and obtain their CGMA designation through CIMA.
Can I still use my current letters?
The ACMA/FCMA designations continue to be recognised globally and can still be used by CIMA members. Should you wish to make use of them, the CGMA letters can be added after your existing letters.
Is there an equivalent grade to FCMA for the CGMA designation?
There is only one grade of CGMA designation. Your FCMA relates to your relationship with CIMA and has no bearing on your relationship with the joint venture
AICPA members were previously exempt from the first five papers within the CIMA syllabus program. How can they now earn a full management accounting qualification?
In the past, CIMA only awarded exemptions based on academic qualifications. The new CGMA designation also recognises the experience that AICPA members who have worked in business have. The CGMA designation is based upon admission by competence and experience.
Can CPAs sign off accounts in all countries?
What are the benefits to me of becoming a CGMA designation holder if I don't envisage working in the US?
With the CGMA designation set to become the most valued and recognised management accountancy qualification in the world, all members will be able to benefit from this enhanced reputation and network of peers, regardless of where they work or wish to work.
Will the CIMA qualification change?
No, the CIMA syllabus was amended in 2010 and will be reviewed againafter a four year period as per its normal development process.
What is the future of the CIMA website as I seem to go to CGMA.org for all my needs?
The CIMA website is a vital communication tool and will continue to develop and support its key stakeholders.The CIMA website remains the only way to access operational information about membership, such as subscriptions and exam entry, and this will not change. Both the CIMAglobal website and CGMA.org use the same login and so once logged in to either one, you will be able to move freely between them.
How many members does the AICPA have outside of the US?
Will my letters ACMA be in existence in five years' time?
Yes. This would only change if the members voted to change them.
Is FM going to continue?
FM will continue alongside the new CGMA magazine and online newsletter.