Formation May 3, 1920; 96 years ago (1920-05-03) Objective Encourage professionalism in accountancy in Canada Headquarters Mississauga, Ontario, Canada Region served Canada, Bermuda, Hong Kong, Caribbean |
The Society of Management Accountants of Canada (French: La Société des comptables en management du Canada), also known as Certified Management Accountants of Canada (French: Comptables en management accrédités du Canada) and CMA Canada, awards the Certified Management Accountant designation in Canada.
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Activities
CMA Canada, through its provincial and territorial affiliates, grants the CMA professional designation in accounting and is responsible for standards-setting, accreditation and the continuing professional development of CMAs.
CMAs apply expertise in accounting, management and strategy to ensure corporate accountability and help organizations maintain a long-term competitive advantage. CMA Canada offers executive development programs, online courses, and knowledge management publications.
Management Accounting Guidelines and Management Accounting Practices are published by CMA Canada to specify the best practice on key topics in management accounting. They are available for download free of charge or on CD for a nominal charge to CMAs, and can be purchased by non-members.
History of the Society
The mission of the Society has closely tracked the evolution from cost accounting to management accounting in Canada, and its distinction from financial accounting:
A merger was proposed between the Canadian Institute of Chartered Accountants and CMA Canada in 2004, but it did not go beyond exploratory talks. Discussions began again in mid-2011, which later expanded to include CGA Canada. A merger proposal was discussed at the provincial level of all three organizations for the creation of a national accounting body that would issue the professional designation of Chartered Professional Accountant. CICA and CMA Canada joined together in 2013, to create Chartered Professional Accountants of Canada (CPA Canada)
Competencies, accreditation process and post-qualification development
CMAs are expected to undergo specific training and practical experience to achieve specified competencies in the area of strategic management accounting, which are intended to prepare them for senior leadership roles in their organizations. There are six functional competencies and four enabling competencies in that regard:
Functional competencies
Enabling competencies
While candidates may come from a variety of backgrounds, the CMA career path is expected to progress in the following manner:
CMA candidates (without advanced professional standing) must have obtained a university degree and have credits in a specified list of subjects, before they can write the CMA Entrance Examination. Upon passing this stage, they then enter the Strategic Leadership Programme ("SLP"), which has the following components:
Successful passage of the above will result in the granting of the CMA designation. After attaining the designation, there are specified requirements for continuous professional learning and development that must be undertaken to remain in good standing.
Relationships with other professional organizations
Strategic alliance
Mutual recognition agreements in effect:
Other relationships