Your career Your story Your Career Your Story

Your career. Your story. Your Career. Your Story. Discover the CMA Certification Yongmei (May) Huang April 30 th, 2019

Today’s Presenter(s) Yongmei (May) Huang CPA, CISA Global Education Product Manager IMA® (Institute of Management Accountants) +1 (201) 474 -1678 Office +1 (908) 240 -9579 Cell may. huang@imanet. org 2

Today’s Agenda § Careers in management accounting § What is IMA? § Gain an edge with the CMA § Steps to becoming a CMA § Q&A 3

Careers in Management Accounting

Management Accounting vs. Public Accounting Develop Management Accounting Public Accounting Internal External Implement Manage Report Management accountants help create value, rather than simply measure it. Audit Tax Public accountants focus on compliance. 5

Who We Are, What We Do, Where We Work Government organizations Support business management and strategic development Plan for the long term Finance Manager Multinational corporations Act as trusted business advisors Provide accurate information for better decisions Not-for-profit organizations Private firms Controller Execute budgeting and forecasting CFO Establish and maintain internal controls Academic institutions VP of Finance 6

The Management Accounting Profession More than 75% of accounting and finance professionals in the U. S. work inside organizations, building quality financial practices into the organization through decision support, planning, and control over the organization’s value-creating operations. Source: Derived from U. S. Bureau of Labor Statistics 7

Where do Management Accountants Work?

Fatema El-Wakeel, CMA Senior Financial Leader – Big Data Analytics Jaguar Land Rover Job role § Utilizes Big Data Analytics to recommend strategic decisions to senior stakeholders based on financial viability Job highlights § Participates in the financial decision making associated with the latest Jaguar and Land Rover vehicles § Has worked on three continents: Europe, Africa, and Asia (Middle East) 9

Adam Milano, CMA, CPA Audit Senior Associate Deloitte Job focus § Assigned to multiple projects, which provides him with insight into different businesses and how they operate How does the CMA benefit Adam? “The CMA adds tremendous value to me and my ability to serve clients. In public accounting everyone has a CPA, but having the CMA in addition to the CPA distinguishes me from my peers. ” Advice from Adam “Knock out those CMA exams as soon as possible!” 10

What Is IMA?

What Is IMA? § A global network of more than 100, 000 members worldwide and more than 300 student and professional chapters § 4 regions and 8 global offices § Offers a globally recognized certification: The CMA® (Certified Management Accountant)

IMA Student Membership Benefits Network of 100, 000+ global members 13

Connect with Your Local IMA Chapter 14

Gain an Edge with the CMA

What Is the CMA? § Globally recognized professional certification in management accounting § Focuses on advanced skills in accounting and financial management such as financial planning, analysis, control, and decision support § Enhances strategic thinking: CMAs can explain the "why" behind the numbers 16

CMA Exam Structure Part 1: Financial Reporting, Planning, Performance, and Control Part 2: Financial Decision Making External financial reporting decisions Financial statement analysis Planning, budgeting, and forecasting Corporate finance Performance management Decision analysis Cost management Risk management Internal controls Investment decisions Professional ethics Notes: Ø Each exam part is four hours long and contains 100 multiple-choice questions, followed by two 30 minute essay scenarios. Ø CMA exam content will be changing in 2020 to include a greater emphasis on emerging IT issues and strategy. These changes are in response to the changing role of the management accountant and will be tested starting in January of 2020. 17

The Difference Is in the Numbers CMAs in the U. S. can earn 47% more in median total compensation than noncertified accountants. * 47% higher compensation noncertified *Source: IMA’s 2018 U. S. Salary Survey 18

Steps to Becoming a CMA

Program Requirements Completion of two exams Bachelor’s degree from an accredited college or university (in any major) Two years of relevant work experience Active membership in IMA 20

Exam Testing Exam administered at hundreds of computer testing facilities worldwide Three exam testing windows offered each year: • January and February • May and June • September and October Candidates schedule exams at their own pace: • Part 1 and Part 2 can be taken in any order • On average, candidates complete the program within 12 -18 months 21

How to Get Started 1) 2) 3) Become an IMA member § Professional members: $230/year + $15 one-time processing fee § Students members: $39/year* Pay the CMA program entrance fee § Regular members: $250 one-time fee § Student members: $188 one-time fee Register to sit for an exam part § Regular members: $415 per part § Student members: $311 per part *SPECIAL OFFER: Join IMA for just $25! USE CODE: CAMPUS 19 22

Why Take the CMA Exam Now? § Students can take the CMA exam before graduation § The CMA exam tests topics you study in college courses § Students are more efficient studiers than professionals who have been out of school for many years § IMA offers reduced membership and CMA exam-related fees for students If you are looking for an advanced certification to build your skills, resume, and earning potential – the CMA is the right choice! 23

CMA Scholarship Program IMA offers 10 scholarships per year at every school, which cover all costs related to the CMA program. • Available to all accounting/finance students (both undergrad and graduate) • Faculty must nominate students • Open during the academic year (Sept. – June) • U. S. students will receive Wiley CMAexcel Online Test Bank access for both exam parts for up to two years and can purchase full CMAexcel package (videos, planner, flashcards, etc. ) at a 50% discount More than $1, 000 in value 24

QA &

Appendix Answers To Frequently Asked Questions (Reference for presenters)

Appendix – Work Experience Requirement From IMA’s CMA Candidate Handbook: Candidates for the CMA Certification must complete two continuous years of professional experience in management accounting and/or financial management. This requirement may be completed prior to or within seven years of passing the examination. Academics can meet this requirement if at least 60% of their course load is in accounting and corporate financial management courses above the principles level. Professional experience is expected to be gained in full-time employment. However, continuous part-time positions of 20 hours per week meeting the definition of qualified experience will count toward this requirement at a rate of one year of experience for every two years of part-time employment. 27

Appendix – Work Experience Requirement (continued) From IMA’s CMA Candidate Handbook: Qualifying experience consists of positions requiring judgments regularly made employing the principles of management accounting and financial management. Such employment includes: • Preparation of financial statements • Financial planning & analysis • Monthly, quarterly, and year end close • Auditing (external or internal) • Budget preparation & reporting • Manage general ledger and balance sheets • Forecasting • Company investment decision making • Costing analysis • Risk evaluation 28

Appendix – Work Experience Requirement (continued) From IMA’s CMA Candidate Handbook: Employment requiring the occasional application of management accounting principles such as in computer operations, sales and marketing, manufacturing, engineering, personnel, and general management will not satisfy this requirement. Internships and trainee, clerical, or non-technical positions do not provide appropriate experience to fulfill this requirement. 29

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IMA Accounting Honor Society (IAHS) Mission: Recognize and honor top-performing accounting students and provide an alumni network for lifetime connections. Membership Criteria: • Attend an accredited college or university in the U. S. • Be a declared accounting/finance/IT major • Have taken a minimum of three accounting courses • Be in your junior year or later in an undergraduate program, or enrolled in a graduate or Ph. D. program • Have an overall and accounting GPA of 3. 0 • Provide proof of eligibility via faculty confirmation or transcript 31

IMA Accounting Honor Society (IAHS) Membership Benefits Application Process (Available for a one-time fee of $50) 1. Faculty Process • Lifetime membership • Certificate of achievement • Graduation cord • Digital badge • IAHS e-newsletter • Faculty submit nomination worksheet to IMA with all required information 2. Student Process • Student applies online at IAHS. org and submits official transcript to IMA 32