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The Institute The Institute of Certified Management Accountants of Australia (ICMA) 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 main objectives are to provide a professional organization for management accountants, and to encourage, disseminate and promote the specialization in organizations in Australasia. It is linked to the Institute of Management Accountants (USA) via it’s journal, which is distributed to all members. Similar specialist bodies have been operating in most English-speaking developed countries, e.g. USA, UK and Canada, and from 1996 in Australia. |
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Objectives of CMA
CMA was established with a vision to attain the status of a premier body of professionals practicing the science of management accounting. The Institute thus aims:
- 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;
- 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;
- 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;
- 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.
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Role of a CMA
Certified Management Accountants (CMAs) are important assets in all types of organizations. CMAs bring the knowledge and experience to the different functions within an organization, such as management accounting , information management, treasury, efficiency auditing, marketing, valuation, pricing and logistics that maximize enterprise value. They analyze operating results, review performance, audit operations, and resolve issues that enhance the strategic objectives of the organization. CMAs appreciate the business approach for managing customer value, formulating strategies, and valuing equity. CMAs are strategic value creators, not just merely accountants who adhere to compliance to the profession |
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