The American Institute of Certified Public
Accountants (AICPA) and Chartered Institute of Management
Accountants (CIMA) have created a new professional designation for
management accountants.

The Chartered Global Management Accountant
(CGMA) designation aims to give management accounting a higher
profile in the US while promoting the development of management
accountants across the world.

The CGMA designation is backed through the
Association of International Certified Professional Accountants –
an AICPA and CIMA joint venture that provides international
resources and experience in management accounting, business and
cultural knowledge.

The CGMA letters are expected to be issued to
AICPA and CIMA members early in 2012.

AICPA voting members with a minimum of three
years in management accounting or a financial management qualify
for an accelerated route to obtain the new designation. 
CIMA members, all of whom hold either an ACMA or FCMA, will be
entitled to use the letters ACMA CGMA or FCMA CGMA.

Those holding the new designation must commit
to a programme of developing and maintaining competency in
management accounting as well as leadership and strategy.

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