Announcements

President's Message

posted Aug 24, 2016, 7:14 PM by Bluegrass IMA Elkins   [ updated Feb 12, 2017, 6:42 AM ]

Greetings Bluegrass IMA Chapters Members,
 
The 2016-2017 has been very rewarding. Dynamic speakers presented in September, November, and January. The Georgetown Water Plant tour was very interesting in October. We are currently preparing for Student Night. Five faculty members have registered 30 students who will represent Georgetown College, Eastern Kentucky University, Midway University, Asbury University, and University of Pikeville.
 
We are seeking additional corporate sponsorship for Student Night. The basic amount is $125 for a corporate sponsorship but any contribution would be appreciated. Please donate door prizes and free gifts to share with the college students. The cost for students is $10 and for all others $25. Registration begins at 5:30 PM and dinner beginning at 6:30 PM on February 16th at the Doubletree.
 
The Board members met on Saturday, January 28, 2017 to confirm plans for Student Night, the Joint IIA Meeting, and Family Night. We also discussed plans for 2017-2018. The Board Members have nominated the slate of officers for 2017-2018:
 
President: Dr. Cassandra Smith
VP, Membership: Cathy Buckman, CMA
VP, Communication: Nicole Hargrove, CMA
Treasurer: Deanna Ramsey, CPA
Secretary: Dean Jacobson, CMA
 
Please nominate members to add to the slate of officers. Board members are seeking volunteers to assist with Student Night, Registration, Education, and Competition Committees. Nominate board members by sending an email to dr.cassandrasmith@yahoo.com.
 
Upcoming Meeting Schedule for 2017:
February 16th at 6:00 PM: Student Night (Brian Hock of Hock International to speak)
 
March 14th at 11:30 AM: IIA-hosted meeting at Lexmark (4 hour CPE with lunch)
 
April 28th – Family Night at a Lexington Legends game
 
I look forward to seeing you at Student Night.  Please attend Student Night to share your experiences. Brian Hock will discuss how accounting credentials adds value to the job search process. I am sure that students will have plenty questions for you.

See you soon,

Dr. Cassandra Smith
IMA Bluegrass 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

IMA’s Salary Survey

posted Dec 22, 2009, 11:04 AM by Bluegrass IMA Elkins   [ updated Feb 11, 2012, 9:26 PM ]

IMA’s Salary Survey Featured in USA Today Snapshot
IMA®’s 2008 Annual Salary Survey and importance of certification made national news with a USA Today Snapshot. CMAs have greater earning power than their noncertified peers ($125,600 versus $95,974). To view the USA Today Snapshot, click here. From USA TODAY, a division of Gannett Co., Inc. Reprinted with Permission

New CMA Exam Format

posted Dec 22, 2009, 11:03 AM by Bluegrass IMA Elkins   [ updated Feb 12, 2012, 6:29 AM ]

On November 24, 2009, ICMA announced a change to the format and curriculum of the CMA exam program, beginning May 1, 2010.
To ensure that the CMA remains the most appropriate designation for accountants and financial professionals in business, the Institute of Certified Management Accountants (ICMA) announced a change to the format and curriculum of the CMA exam program.

Beginning May 1, 2010, the CMA exam will consist of a two-part format focusing on the critical skills of financial planning, analysis, control and decision support. Testing for the current four-part CMA exam format will continue through December 31, 2010.

The CMA exam consists of 10 content domains organized into two exam parts:

Part 1 – Financial Planning, Performance and Control

§  Planning, budgeting, and forecasting (30%)

§  Performance management (25%)

§  Cost management (25%)

§  Internal controls (15%)

§  Professional ethics (5%)

Part 2 – Financial Decision Making

§  Financial statement analysis (25%)

§  Corporate finance (25%)

§  Risk management and decision analysis (25%)

§  Investment decisions (20%)

§  Professional ethics (5%)


For more information, visit the Global CMA Website

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