The Chartered Global Management Accountant: A Necessary Professional Credential or an Unncessary Irritant Between the AICPA and IMA?

The IMA View

The AICPA View

My View Nine Months Ago

The AICPA announced two weeks ago that it was initiating a new credential, the Chartered Global Management Accountant (CGMA) effective January 31. Members of the AICPA are allowed to "test drive" the designation through July 31; thereafter, experience requirements (generally three years in a management, consulting or finnacial management setting) and annual dues of $150 ($100 if a member of a state CPA society) will be required to maintain the CGMA status. No specific testing of technical skills is presently required; an omission which the IMA vigorously criticized in its review of the designation.

Perhaps the AICPA is trying to use the CGMA to increase its international presence; perhaps there was significant demand within the AICPA which I was unaware of for a management accounting designation. On the surface, however, it is hard for me to see this as anything but an unnecessary irritant in AICPA--IMA relations. As an academic who took two weeks of thought before publishing this, an AICPA-IMA feud does little good for anyone; especially college accounting faculty who want student post-graduate workplace options to be as inclusive as possible in an iffy economy.