MBA offers fast track to CMA designation

[img_inline align=”right” src=”http://padnws01.mcmaster.ca/images/cma-Logo.jpg” caption=”Certified Management Accountants logo”]Certified Management Accountants play a key role in business. Unlike other accounting and business professionals, who specialize in financial reporting, auditing and valuation, CMAs do more than just measure value – they create it. Using a unique mix of financial expertise, strategic insight, innovative thinking and a collaborative approach, CMAs help grow successful businesses.

The DeGroote School of Business is speeding the growth of the next generation of CMAs, allowing students to earn their CMA designation concurrently with their MBA.

To become a CMA, candidates must complete a rigorous process including a two-part entrance exam and a two-year Strategic Leadership Program (SLP) after which they submit a final board report for assessment. The DeGroote Management Accounting MBA streamlines the process by incorporating the SLP into the curriculum, and, since DeGroote's MBA program is an accredited CMA program, students are given exemption from the first part of the entrance exam. Upon completion of their MBA requirements for the Management Accounting specialization and 24 months of practical work experience, students are eligible to complete the board report, write the second part of the entrance exam and receive their professional designation as a Certified Management Accountant.

“This program is a good opportunity for students who are interested in earning their CMA designation because it shortens the time required to get their designation,” explains Lilian Chan who co-ordinates the program.

Chan, associate professor of accounting & financial management services, says that there are many options open to CMAs. With a strong background in accounting, CMAs are more than accountants. Their experience with operational, financial, marketing and planning issues gives them a strong strategic focus that allows them to play a key role in business.

Michelle Kwan, who earned her MBA from DeGroote in 1994 before the combined program was developed, went on to earn her CMA in 1996. She now works at TD Bank Financial Group.

“I work in management reporting, reporting on the financials of the different businesses within the bank to help the executives make decisions,” she explains. “A CMA is different from other accounting designations in that it is more strategic. Being a CMA gives you a broader skill set and you can be involved in any industry. It's a good stepping stone to many careers.”

For students looking towards a career as a strategic and financial management professional, the DeGroote fast-track to CMA designation offers a strong combination of the financial and business skills needed.