ICMA
Corporate Overview  The Institute was incorporated in 1996 under the patronage
of Mr. William Dix (former Chairman of Ford and Qantas) and
Professor John Miller (former Director of Consumer Affairs,
Chairman of Pannell, Kerr, Foster and holder of numerous
senior academic positions). Its objectives are to provide a
professional organization for management accountants, and to
encourage, disseminate and promote the specialisation in
organizations in Australia. Similar specialist bodies have
been operating in most English-speaking developed countries,
e.g. USA, UK and Canada, but not until now in Australia.
A management accountant applies his or her professional
knowledge and skill in the preparation and presentation of
financial and other decision oriented information in such a
way as to assist management in the formulation of policies and
in the planning and control of the operation of the
undertaking.
Management Accountants therefore are seen as the
"value-creators" amongst the accountants. They are
much more interested in forward looking and taking decisions
that will affect the future of the organization, than in the
historical recording and compliance (scorekeeping) aspects of
the profession. Management accounting knowledge and experience
can therefore be obtained from varied fields and functions
within an organization, such as information management,
treasury, efficiency auditing, marketing, valuation, pricing,
logistics, etc.
There are four levels of membership in ICMA:
Certified Management Accountant (CMA), Associate Management
Accountant (AMA), Graduate Management Accountant (GMA) and
Management Accounting Affiliate (MAA), with differing experience
requirements. Details of membership benefits and services
are available in the membership
page. The Institute's newsletter,
On Target, and its research journal (JAMAR)
are available in electronic format on this website. The Institute
has a wide ranging activities, in Australia and in its international
branches.
The Institute offers a number of education
programs that have received accreditation from Australian
universities. Being a CMA means a commitment to a continuous
professional development, and the Institute offers seminars,
training and other development activities to assist members
achieve this objective. For the industry and employer perspective,
the Management Accounting
2020 program offers industry-based certification for best
practice in decision information and control systems.
The Institute is also an examining body, and members are
required to pass examinations and have relevant work
experience prior to describing themselves as ‘Certified
Management Accountants’. Business organizations are also
accredited by the Institute as providing suitable training and
experience programs for prospective members to obtain their
experience requirements for membership.
CMA is established with a vision to attain the status of a
premier body of professionals practising the science of
management accounting. The Institute thus aims:
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To promote and develop the science of Management
Accountancy and to foster and maintain investigations and
research into the best means and methods of developing and
applying such science and to encourage, increase, disseminate
and promote knowledge, education and training and the exchange
of information and ideas in respect of all questions relating
thereto or connected therewith;
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To provide a professional organization for Management
Accountants and by means of examination and other methods of
assessment to test the skill and knowledge of persons desiring
to enter the profession;
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To further the development of management accounting education
in these disciplines in the universities and schools in
Australia and Asia;
To encourage research into the application of management
accounting theory in practice;
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To hold conferences and publish a journal as a means for
disseminating ideas and information in the discipline of
management accounting, and for promoting their discussion.
A copy of the Institute's
constitution is available for downloading here
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