How

Management
Accounting
Drives
Sustainable
Success
What DO Management accounting
Management is more than you think
Accountants Chartered Global Management Accountants combine financial expertise
Do? and business acumen.

Management accountants are trusted to guide critical business decisions

and drive strong business performance.
Management accounting
They combine financial expertise and business acumen to achieve
sustainable success. They understand how the different parts of the
business need to come together.
Financial
accounting + Added value

A GLOBAL
ProFession Reporting financial Managing business

Role
performance opportunities

CIMA, the Chartered Institute of Management Accountants and AICPA, the Laws Evidence

Framework
American Institute of Certified Public Accountants two of the world’s most Standards Solutions
prestigious accounting bodies, have formed a joint venture to elevate the Regulations Best practices
profession of management accounting by establishing CGMA as the most
valued, globally recognised management accountant designation. Financial Non-financial

Information
Quantitative Qualitative
While many CGMAs work in the finance department, others put their Certain Predictive
broader business training to use across the organisation, including the

Analysis
roles of Board Director, Chairman and CEO. Static Dynamic

Chartered Global Management Accountants (CGMAs) are committed Focus

Historical Forward looking
to professional ethics and a code of conduct. A single syllabus and
examination standard ensures the consistency of a CGMA’s skills all over Reporting Communicating
Technical Innovative
Skills

the world.
Analytical Problem solving
This document explains how management accountants deliver success
Perspective

for those who lead organisations and how CIMA and the AICPA support Compliance Strategy
CGMAs in that role.
WHAT THE BOARD/MANAGEMENT HOW A CGMA DELIVERS FOR THE KEY ACTIVITIES OF THE
NEEDS TO BE SUCCESSFUL OVER TIME THE BOARD /MANAGEMENT MANAGEMENT ACCOUNTING
Chartered Global Management Accountants link the board objectives to
FUNCTION
the business, enabling the right decisions to be made, appropriately
funded and correctly implemented throughout the organisation The role of Chief Finance Officers (CFOs) is changing. In many
– short and long-term. organisations it is expanding to include IT, human resources, and even
SUCCESS operations. All CFOs however, have responsibility for the management
OVER TIME accounting function. There are fourteen main practice areas that CFOs
oversee. Internal audit does not sit within the function but management
COMMUNICATION INFORMATION IS
PROVIDES INSIGHT RELEVANT accounting makes a significant contribution to the system of controls which
EFFECTIVE MANAGEMENT THAT IS INFLUENTIAL Help organisations plan for is tested by internal auditors.
ACCOUNTING FUNCTION Drive better decisions and source the information
about strategy and its needed for creating
execution at all levels strategy and tactics
for execution The key activities of the mangement
GLOBAL accounting function
PEOPLE PRINCIPLES PERFORMANCE
SYSTEM
PRACTICE
AREAS MANAGEMENT
ACCOUNTING Cost Project
PRINCIPLES transformation management
©

Management accountants help organisations to deliver success over time. STEWARDSHIP IMPACT ON and management
BUILDS TRUST VALUE IS
Boards and senior management are responsible for leading long-term, Actively manage
ANALYSED External Regulatory
relationships and resources Simulate different scenarios
sustainable success. Their goal is to continue to generate value for so that the financial and that demonstrate the cause-and- reporting adherence and
effect relationships between inputs compliance
stakeholders over time by determining strategy, setting the risk appetite, non-financial assets, reputation and
value of the organisation are protected and outcomes
articulating the organisation’s culture and managing change. Management
Financial Resource
accountants help them do this by identifying and exploiting opportunities to
strategy management
generate value for stakeholders, while pro-actively managing costs and risks.
The Global Management Accounting Principles describe the fundamental Internal control Risk management
Successful organisations have effective management accounting functions.
values, qualities, norms and features to which management accounting
It is the combination of competent people, clear Principles, well managed
professionals should aspire. Three of the Principles apply to the discipline of Investment Strategic tax
performance and robust practices that make a management accounting
management accounting and the Principle ‘Stewardship builds trust’ applies appraisal management
function effective.
to the individual behaviours of management accounting professionals,
Management Treasury
meaning that they act with integrity and follow an ethical code of conduct.
and budgetary and cash
They are the ethical conscience of the organisation. control management

Price, discount Internal audit

and product
decisions
HOW CIMA AND AICPA THE CGMA IS FOUNDED CONTINUING PROFESSIONAL
SUPPORT CGMAS ON THE CIMA SYLLABUS DEVELOMENT (CPD)
Established in 1919, CIMA is the world’s leading and most respected Chartered Global Management Accountants continuously sharpen their
CGMA COMPETENCY FRAMEWORK
®
management accounting body, with members and students in 204 business acumen through CPD. This ensures that management accounting
countires. The diagram below sets of the CIMA professional qualification skills, tools and techniques of CGMAs are up to date.
syllabus. The syllabus is divided into operational, managerial and
strategic levels, with interim qualifications awarded at each stage.
TECHNICAL
SKILLS
Business
Skills
RESOURCES
Apply accounting In the context
and finance AWARD / Membership of the Chartered Institute of
skills
of the business Management Accountants and the CGMA® designation For more information about management accounting please
visit cgma.org and www.cimaglobal.com
Assessment of practical experience

STRATEGIC The Global Management Accounting Principles can be downloaded

LEVEL Strategic Case Study Exam
from www.cgma.org/principles
The 2015 syllabus can be viewed at www.cimaglobal.com/2015
And lead within To influence E3 P3 F3
the organisation people Strategic Risk Management Financial Strategy Our innovation reports can be downloaded from www.cgma.org/resources
Leadership People
Management
Skills Skills
CGMA case studies

Practical experience / lifelong learning

MANAGEMENT AWARD / CIMA Advanced Diploma in Management Accounting
LEVEL
Management Case Study Exam CGMAs are guiding critical business decisions and driving
Ethics, integrity and professionalism strong business performance all over the world using
E2 P2 F2
Project and Advanced Advanced management accounting research, tools and techniques.
Relationship Management Financial
Net present value over three to four years.

CIMA and the AICPA have developed the Chartered Global Management
OPERATIONAL
Management

AWARD / CIMA Diploma in Management Accounting

Accounting Reporting
15% Project has provided foundation for
acquisitions worth multiple billions of
Accountant competency framework, which details the capabilities of LEVEL dollars.
Operational Case Study Exam Simon Henry CGMA,
trusted finance professionals. They are expected to apply accounting and Group CFO, Royal Dutch Shell
finance skills, in the context of the business, to influence the decisions, E1 P1 F1
100%
Accuracy for stock count, cost savings
Organisational Management Financial and above 95% customer satisfaction
actions and behaviours of others, and lead the organisation at different Management Accounting Reporting and Simon Henry CGMA,
levels. Each area includes a series of competencies that are defined at Taxation Group CFO, Royal Dutch Shell

four proficiency levels: foundational, intermediate, advanced and expert.

60%
ENTERPRISE PILLAR PERFORMANCE PILLAR FINANCIAL PILLAR
Cost savings switching EMEA into
Pre-requisite entry requirements
shared service centre.
The framework highlights the range of skills of management accounting (e.g. CIMA Certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level [level 4]).
Boonsiri Somchit-Ong CGMA,
professionals, placing importance on both technical and soft skills. It also AWARD / CIMA Certificate in Business Accounting Vice President Global Accounting,
AMD, Kuala Lumpur
supports the concept of lifelong professional learning and experience.

$1bn
Paper C01 Paper C02 Paper C03 Paper C04 Paper C05
Fundamentals Fundamentals Fundamentals Fundamentals Fundamentals of
Added to the bottom line of a global
of Management of Financial of Business of Business Ethics, Corporate FMCG client over an 18 month period.
Accounting Accounting Mathematics Economics Governance and
Business Law
Justin Watson
Head of Finance Talent, Deloitte
American Institute of CPAs
1211 Avenue of the Americas
New York, NY 10036-8775
T. +1 212 596 6200
F. +1 212 596 6213
Chartered Institute of
Management Accountants
26 Chapter Street
London SW1P 4NP
United Kingdom
T. +44 (0)20 7663 5441
F. +44 (0)20 7663 5442

CIMA regional offices:

Africa
Office address:
4th floor, 54 Melrose Boulevard
Melrose Arch
Melrose North
Johannesburg, South Africa
T: +27 (0)11 788 8723
F: +27 (0)11 788 8724
johannesburg@cimaglobal.com
Middle East, South Asia
and North Africa
356 Elvitigala Mawatha
Colombo 5
Sri Lanka
T: +94 (0)11 250 3880
F: +94 (0)11 250 3881
colombo@cimaglobal.com
South East Asia and Australasia
Level 1, Lot 1.05
KPMG Tower, 8 First Avenue
Bandar Utama
47800 Petaling Jaya
Selangor Darul Ehsan
Malaysia
T: +60 (0) 3 77 230 230/232
F: +60 (0) 3 77 230 231
seasia@cimaglobal.com

Europe North Asia CIMA also has offices in the

26 Chapter Street
London SW1P 4NP
United Kingdom
T: +44 (0)20 8849 2251
F: +44 (0)20 8849 2250
cima.contact@cimaglobal.com
1508A, 15th floor, AZIA Center
1233 Lujiazui Ring Road
Pudong Shanghai, 200120
China
T: +86 (0)21 6160 1558
F: +86 (0)21 6160 1568
infochina@cimaglobal.com
following locations:
Australia, Bangladesh, Botswana,
China, Ghana, Hong Kong SAR,
India, Ireland, Malaysia, Nigeria,
Pakistan, Poland, Russia, Singapore,
South Africa, Sri Lanka, UAE, UK,
Zambia and Zimbabwe.

cgma.org
October 2014 © The Chartered Institute of Management Accountants 2014

CGMA, CHARTERED GLOBAL MANAGEMENT ACCOUNTANT, and

the CGMA logo are trademarks of the Association of International
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