November President's Message

Dear Bluegrass IMA Members, 

According to Webster, the definition of the truth is “the body of real things, events, and facts.” Sharing alternate facts and omitting pertinent information have transpired into an everyday occurrence. An emerging discussion is about how the interpretation of the truth has impacted business ethics. The November speaker will address business ethics in today’s landscape. On Thursday, November 16th, Roger Ward from Georgetown College will discuss business ethics. Dr. Roger Ward is a Literature Professor. He runs the CDAL at Georgetown College. He is a Professor and Chair of Philosophy. He loves riding his bicycle. Join us in learning about how the interpretation of the truth impacts business ethics. Please register online at http://bluegrass.imanet.org/meetings/reservations no later than Thursday, November 9, 2017. For more details concerning upcoming meetings visithttp://bluegrass.imanet.org/meetings. Stay tuned for the revision of the user friendlier website. 

Sincerely, Dr. Cassandra Smith, DBA, CMA

October President's Message

posted Oct 9, 2017, 4:59 AM by Bluegrass IMA Elkins

Fall is in full swing and Winter is approaching. The next three months is the season to celebrate traditions. Bluegrass Chapter members and guests also have a tradition. They tour a factory to earn CPE credit and learn about a company’s operations. The purpose of the factory tour is demonstrate the practical application of management accounting.

 

On Thursday, October 19th, a tour is scheduled at West Sixth Brewery. West Sixth is the home of craft beer. Craft beer is produced through a small scale brewing process. Bluegrass Chapter members and guests will spend about one hour on a tour of the building and brewing facility. They will have the opportunity to bring home a complimentary tour glass. The history of the building, The Bread Box, will be discussed. Management will share involvement in community outreach, volunteer opportunities, and nonprofit partnerships. The related facilities including The Greenroom and The West Sixth Farm will be shared.  Join us in learning about the brewery history, business, process, and sampling.

 

Please register online @ http://bluegrass.imanet.org/meetings/reservations no later than Thursday, October 12th.  For more details concerning upcoming meetings visit http://bluegrass.imanet.org/meetings. Stay tuned for the revision of the user friendlier website.

 

Enjoy your traditions,

 

Dr. Cassandra Smith

IMA Bluegrass President

September Meeting Cancelled

posted Sep 14, 2017, 9:20 AM by Bluegrass IMA Elkins   [ updated Sep 14, 2017, 9:32 AM ]

The September 21 IMA dinner meeting has been cancelled. We apologize for the inconvenience. Our next event will be a Tour of the West Sixth Brewery on October 19, 2017. Please sign up online for the brewery tour!

President's Message

posted Aug 24, 2016, 7:14 PM by Bluegrass IMA Elkins   [ updated Sep 14, 2017, 9:13 AM ]

Welcome to the 2017-2018 IMA Bluegrass Chapter year. The board members and I met in June 2017 and August 2017 to plan the year. The overall objective is to engage existing members and encourage new members who have joined in 2017 to attend the monthly meetings. We look forward to organizational growth and increased monthly meeting attendance. 

The board members and I have scheduled an array of activities to engage and encourage members for 2017. A tour of the West Sixth Brewery is planned for October. We will close out 2017 by hosting a meeting in November 2017 to discuss ethics. The goal is attract members and potential members to earn their CPEs and learn something new and exciting. 

In 2018, the board members and I have planned four events. In January, tax updates will be discussed. In February, we will host our annual Student Night. In March, we will participate with the Institute of Internal Auditors for a joint meeting. In April, we are hosting our Family Night at a Lexington Legends Game. We encourage our members and potential members to support our activities. 

Throughout the year, the board members and I request your support. We will begin requesting nominations for the 2017-2018 officers. We will also request 10 sponsors for Student Night for $125 each. Please register for the monthly meeting 14 days in advance and attend as often as possible. Our goal is to host at least 20 members at each meeting. 

The 2017-2018 year is scheduled and prepared to engage members and potential members. Three events are scheduled for Fall 2017 and four events for the Spring 2018.  Prizes will be awarded to the members who attend the most meetings and/or bring the most guests. Please submit the names and email addresses of members who would make good officer candidates. Support our monthly meetings by attending and providing sponsorships. Hope to see you at all of the monthly events in 2017-2018. 

Enjoy your day, 

Dr. Cassandra Smith, DBA, CMA 
Assistant Professor of Business 
Midway University 
Bluegrass IMA Chapter President 

ICMA Updates CMA Exam to Reflect Evolving Role of Management Accountants

posted Oct 28, 2014, 4:39 AM by Bluegrass IMA Elkins

Montvale, N.J., March 24, 2014 – ICMA® (Institute of Certified Management Accountants), the certification division of  IMA® (Institute of Management Accountants), has updated the exam for its CMA® (Certified Management Accountant) credential to include additional content related to financial reporting and strategic planning; skills that are increasingly important for management accountants as their roles evolve. These updates will take effect in January 2015 (March 2015 for the Chinese language version).

The revisions are based on a Job Analysis Study that polled CFOs, controllers and other accounting/finance professionals from around the world. The purpose of the study was to identify the in-demand knowledge, skills and tasks currently needed by management accountants. IMA conducts studies every five to seven years to ensure exam content is current, relevant and valid.

“Undoubtedly, the role of CFOs and their teams is rapidly evolving due to a variety of factors, such as technology and globalization,” said Dennis Whitney, CMA, CFM, CAE, ICMA senior vice president. “It’s essential that the CMA continues as the most relevant assessment for management accountants so that it serves professionals and enables organizations to find the most qualified talent.”  

Changes will affect approximately 10 percent of the exam content. It will remain as two four-hour parts, and each part will include 100 multiple-choice questions and two 30-minute essay questions.

For more information about the CMA, and how these changes impact current CMA candidates, visit http://www.imanet.org/cma_certification/current_cma_candidates.aspx.

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 70,000 members in 120 countries and 300 professional and student chapters. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.

Lincoln Trail Adds New Website

posted Oct 28, 2014, 4:37 AM by Bluegrass IMA Elkins

The Lincoln Trail Regional Council of IMA is one of 23 nationwide councils, consisting of 8 chapters in Indiana, Kentucky, and Tennessee: Bloomington, Blue Grass, Evansville, Indianapolis, Louisville, Nashville, Northern Kentucky, and South Central Indiana.  To learn more about Lincoln Trail Regional  Council and its chapters, click here.

The council provides leadership for and facilitates partnerships with our chapters by:
  • Holding quarterly council meetings with delegates from each chapter.
  • Representing regional chapters in the Global IMA organization.
  • Providing assistance and guidance to our chapters.
  • Conducting yearly Chapter Leadership Training program in April for chapter board of director officers.
  • Promoting local, regional, and national continuing education programs.
  • Partnering with chapters to conduct professional development seminars.
  • Promoting outreach to student members, including Student Leadership Conference scholarship.
  • Encouraging the promotion of professional certification via IMA's Certification in Management Accounting (CMA).
The Council's board members, chapter leaders, and chapter delegates meet quarterly in various locations based upon which Chapter sponsors the meeting.  The purpose is to discuss various local, regional, and global topics affecting IMA; participate in educational events; and to network.

To learn more about the Lincoln Trail Council, please visit their website at http://www.lincolntrail.imanet.org/home

IMA Record Growth

posted Aug 12, 2014, 6:33 PM by Bluegrass IMA Elkins

IMA Achieves Record Growth in Fiscal Year 2014

August 12, 2014

CMA is the Leading Management Accounting Global Credential

Montvale, N.J. – IMA® (Institute of Management Accountants) today announced its increased membership numbers and record-setting growth for its CMA® (Certified Management Accountant) credential in fiscal year (FY) 2014 ending June 30, 2014.

Having just opened two new international offices in Shanghai and Cairo, in addition to existing global branches in Zurich, Dubai and Beijing, IMA has shown impressive growth in members and new candidates, enhancing the organization’s international relevance, as well as highlighting the critical role management accountants play in the global economy.

In FY 2014, IMA’s total membership rose seven percent to 72,921, including well over 10,000 college and university students and young professionals. Outside the U.S., membership grew 23 percent over 2013, reaching nearly 28,000. 

“Our increase in numbers—as well as in respect and influence—is a result of the integrity and consistency of this organization,” said Jeff Thomson, CMA, CAE, president and CEO of IMA. “The trust in our organization and in our certification standards is what makes the CMA the leading global management accounting credential. We are proud to be fulfilling our mission to promote the best interests of the profession, and we commit to growing with confidence and integrity.”

The CMA—IMA’s globally recognized, advanced-level credential for accountants and financial professionals in business—has also shown tremendous growth. “The CMA program is one of the fastest-growing accounting certifications in the world,” said Dennis Whitney, CMA, CFM, CAE and ICMA (Institute of Certified Management Accountants) senior vice president. “Not only has it grown at an annualized rate of more than 25 percent for the past five years, but ICMA has also maintained a rigorous exam giving employers confidence that every CMA they hire has met strict standards of excellence. With members and candidates in 140 countries, the CMA program is truly global in enriching organizations and serving the public interest.” 

The total number of new CMA candidates reached a record high 14,662 in FY 2014. A record number of new CMA certificates were awarded to worthy management accountants – 3,003 in total. The increase is all the more impressive because of the high standards required to earn this credential. Achieving the CMA requires education, experience and passing a thorough two-part exam. It demonstrates a professional’s expertise in financial planning, analysis, control, decision support and professional ethics – skills that are in high demand by organizations around the world to address the talent gap.  In addition, the total number of CMAs is up six percent in FY 2014, and total candidates have increased 19 percent in the past year, now standing at 22,277. To date, more than 43,000 professionals have earned the CMA credential.

To learn more about IMA’s mission, visit: http://www.imanet.org/about_ima/our_mission.aspx.  To learn more about the CMA program, visit www.imanet.org/cma. 

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 70,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/Africa. For more information about IMA, please visit www.imanet.org.

CMA Exam Updates

posted Aug 12, 2014, 6:30 PM by Bluegrass IMA Elkins   [ updated Aug 12, 2014, 6:31 PM ]

ICMA Updates CMA Exam to Reflect Evolving Role of Management Accountants

March 24, 2014

Montvale, N.J., March 24, 2014 – ICMA® (Institute of Certified Management Accountants), the certification division of  IMA® (Institute of Management Accountants), has updated the exam for its CMA® (Certified Management Accountant) credential to include additional content related to financial reporting and strategic planning; skills that are increasingly important for management accountants as their roles evolve. These updates will take effect in January 2015 (March 2015 for the Chinese language version). 

The revisions are based on a Job Analysis Study that polled CFOs, controllers and other accounting/finance professionals from around the world. The purpose of the study was to identify the in-demand knowledge, skills and tasks currently needed by management accountants. IMA conducts studies every five to seven years to ensure exam content is current, relevant and valid.

“Undoubtedly, the role of CFOs and their teams is rapidly evolving due to a variety of factors, such as technology and globalization,” said Dennis Whitney, CMA, CFM, CAE, ICMA senior vice president. “It’s essential that the CMA continues as the most relevant assessment for management accountants so that it serves professionals and enables organizations to find the most qualified talent.”  

Changes will affect approximately 10 percent of the exam content. It will remain as two four-hour parts, and each part will include 100 multiple-choice questions and two 30-minute essay questions.

For more information about the CMA, and how these changes impact current CMA candidates, visithttp://www.imanet.org/cma_certification/current_cma_candidates.aspx.

About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA®
 (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 70,000 members in 120 countries and 300 professional and student chapters. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.

2013-2014 Program and Roster Released

posted Sep 11, 2013, 6:37 AM by Bluegrass IMA Elkins   [ updated Sep 11, 2013, 6:38 AM ]

The 2013-14 Program / Roster has now been released. This document will give a complete overview of our chapter and will provide information on how you can become involved. The IMA is a growing organization and you may recognize some of the Blue Grass Chapter's Members.

Exam Fees to Increase

posted Apr 11, 2013, 8:25 AM by Bluegrass IMA Elkins

ICMA® will soon raise the fees associated with its CMA® program, the first increase in fees since the two-part version of the CMA exam was implemented in 2010.

Under the new fee schedule, starting in July 2013, the cost for taking the CMA exam for those in the IMA® professional membership category will be $380 per part.

In addition, also starting in July 2013, the non-refundable certification entrance fee for professional members will be $240. That fee covers:

• Credential review for educational qualification;
• Credential review for experience qualification;
• Six months access to the CMA Exam Support package which includes the CMA
Assessment Tool and printable practice questions;
• Final Score Report;
• Performance feedback reports for candidates who do not pass;
• Personalized, numbered certificate for office display;
• Congratulatory notification to employer or others, if desired.

Candidates are reminded that they must complete parts 1 and 2 of the CMA exam within three years of entry into the program. Candidates also must register for an exam part within the first 12 months of entering the program.

CMA has Bright Outlook

posted Jul 18, 2012, 5:09 AM by Bluegrass IMA Elkins   [ updated Jul 18, 2012, 5:14 AM ]

On June 18th, 2012, the Chicago Tribune released an article titled "6 in-demand certifications".  Certified Management Accountants made the list.  Here is what the Tribune had to say:
"Certified management accountant

What they do: According to the Bureau of Labor Statistics, these workers record and analyze financial information for organizations. The information is intended for internal use by business managers. CMAs are also known as cost, managerial, industrial, corporate or private accountants.

Certification details: A CMA is earned by joining the Institute of Management Accountants, having a bachelor’s degree and completing two continuous years of professional experience in management accounting or financial management. The CMA exam is taken in two parts and covers planning, budgeting and forecasting, internal controls and professional ethics, corporate finance, decision analysis, risk management and professional ethics, among other topics."
 
To read the entire article, click here

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