Friday, October 19, 2012

I got CGMA designation

The American Institute of Certified Public Accountants and Chartered Institute of Management Accountants have joined together to form a joint venture which powers a new designation for management accountants, the Chartered Global Management Accountant (CGMA). The CGMA is designed to elevate management accountingIt sets a new standard for global recognition of management accounting by building on the longstanding foundations and thought leadership of the AICPA and CIMA. So, in a short word two giants of accounting industry created a designation which allows CIMA to enter to the US market. Currently CGMA eliminates examination for AICPA members. To qualify, members must meet one of the CGMA experience requirement options below:

  • Three years of financial (including internal audit)  or management accounting experience in business, industry, or government, or
  • Two years of financial or management accounting experience plus one year in public accounting, or
  • Three years of financial/management accounting experience on a consulting basis, or
  • Three years in a management accounting role focused on the management and operation of an accounting firm
However, beginning January, 2015, a qualifying examination will also be required. Designation fee is $150.

Taking into account such easy requirements for the AICPA members and my wide experience in corporate accounting I decided to apply for this new designation. I filled an online application and paid the fee. By filling the application you allow them to access your information at the AICPA. So, after background check they sent me an e-mail where stated that I am eligible for the designation as I my experience and AICPA membership meets the actual requirements. So I am now CPA and CGMA...