Registered Cost Accountant
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The RCA program consists of the CAT program plus Stage 2 of the GMA program. This qualification is equivalent to those having an Advanced Diploma from the Australian Technical and Further Education (TAFE) system. [Although the ICMA has established that there is significant market demand for the Advanced Diploma due to a greater demand being placed on the VET sector for services, if students are interested, the ICMA has strategic partnership with a Registered Training Organisation (RTO) that is authorized to issue the Advanced Diploma in Accounting qualification on the completion of the RCA].
The Institute runs accredited courses in accounting both in Australia and internationally. ICMA has the vision that it will, via its RPIs, be able to deliver its educational programs in a number of different sites in the Middle East, South Asia, South East Asia and China, and to have graduates articulate into Australian and overseas MBA and other Masters Degree qualifications via the pathways that it has been able to negotiate.
The overall educational strategy is to :
· Facilitate courses that are a “tunnel of success”, by creating flexible learning solutions.
· Provide timely learning that is enjoyable.
· Provide team building for the participants including group problem solving tasks and group success goals.
· Provide updated technical education by the achievement of excellence in teaching and materials.
The RCA program is part of the Graduate Program and is available to those satisfactorily passing a University entrance examination of a particular country (e.g. SATs, International Baccalaureates; Advanced Levels; TERs etc.). The program consists of 8-units undertaken via two stages of study. The ICMA has strategic partnership with a RTO with regards to issuing the Advanced Diploma in Accounting. Students who complete the first 4–units of the Advanced Diploma in Accounting are awarded a Certified Accounting Technician (CAT) qualification of the ICMA, and can apply for credit in the Advanced Diploma in Accounting. Students successfully completing this Advanced Diploma in Accounting program are awarded the RCA certification and also given credit towards the Institute’s Graduate Member Program, and on completing a further 8-subjects, may describe themselves as Graduate Management Accountants (GMAs) of the ICMA. Those having 3 years relevant experience can apply to the ICMA for Associate Management Accountant (AMA) membership status.
It can be seen from this diagram that it is possible for students to complete the Registered Cost Accountant (RCA) certification and articulate this into an undergraduate degree and a Master Degree. Alternatively they may complete the Advanced Diploma at a RTO, continue studies to the Certified Management Accounting qualification, and then progress to a Master of Business Administration. This latter option is probably a more time effective pathway for older students that have spent some time in the workplace.
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