Definition
The Institute of Management Accountants (IMA) is a U.S.-based professional association established in 1919. It originally began as the National Association of Cost Accountants and has grown to include more than 65,000 members worldwide. The IMA provides education, certification, and networking opportunities to its members, primarily focusing on management accounting and finance professions. One of the IMA’s key offerings is the Certified Management Accountant (CMA) certification, which is recognized globally.
Examples
- Certification Programs: The IMA offers the Certified Management Accountant (CMA) certification, designed to enhance the skills of management accountants and financial professionals.
- Continuing Professional Education (CPE): IMA members have access to a vast range of courses and webinars to keep their skills updated and meet continuing professional education (CPE) requirements.
- Networking Opportunities: The IMA hosts regional and global events such as conferences, seminars, and forums to help members connect and share knowledge.
- Research and Publications: The IMA produces a variety of research papers and journals, such as the “Strategic Finance” magazine, to keep members informed about the latest trends and developments in the field.
Frequently Asked Questions
Q: What is the CMA certification? A: The Certified Management Accountant (CMA) certification is a professional credential offered by the IMA that focuses on financial management and strategic management skills. It is recognized globally and valued by employers for its emphasis on rigorous standards and practical skill sets.
Q: How can I join the IMA? A: You can join the IMA by visiting their official website (http://www.imanet.org/) and filling out the membership application form. Membership categories include students, professionals, and academics.
Q: What are the benefits of becoming an IMA member? A: Benefits include access to educational resources, certification programs (such as the CMA), networking opportunities, exclusive research and publications, and career development tools.
Q: How do I maintain my CMA certification? A: To maintain your CMA certification, you must fulfill continuing professional education (CPE) requirements annually, pay a maintenance fee, and adhere to the IMA’s statement of ethical professional practice.
Q: Are there local IMA chapters? A: Yes, there are numerous local IMA chapters across the globe. These chapters host events, provide networking opportunities, and offer localized support for members.
Related Terms
- Certified Management Accountant (CMA): A professional certification in accounting and financial management offered by the IMA.
- Continuing Professional Education (CPE): Educational programs that keep professionals up-to-date with the latest developments in their field and maintain their certifications.
- Management Accounting: A field of accounting focused on internal financial processes, including budgeting, performance evaluation, and cost management.
- Strategic Finance: A publication by the IMA that provides insights and updates on finance and accounting practices.
Online Resources
- IMA Official Website: The main website for the Institute of Management Accountants, providing detailed information about certifications, membership, and resources.
- CMA Certification Details: Detailed information about the Certified Management Accountant certification program, including requirements, study resources, and benefits.
- Strategic Finance Magazine: A publication by the IMA focusing on trends and news in strategic financial management.
Suggested Books for Further Studies
- “Management Accounting: Principles and Applications” by Hugh Coombs, David Hobbs, and Ellis Jenkins
- “Certified Management Accountant Exam Secrets Study Guide” by CMA Exam Secrets Test Prep Team
- “Managerial Accounting” by Ray H. Garrison, Eric Noreen, and Peter C. Brewer
Accounting Basics: “Institute of Management Accountants (IMA)” Fundamentals Quiz
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