How CIMA’s CGMA changes will impact your career

The CIMA® (Chartered Institute of Management Accountants) Professional Qualification is now called the CGMA® (Chartered Global Management Accountant) Professional Qualification.

Although the name has changed, there have been no changes to the syllabus, CIMA membership, or the reputation of CGMA designation holders. But instead, it helps to align the terminology to create one globally recognised standard for management accounting. Crucially, the CGMA designation remains a CIMA qualification.

What is CGMA?

Chartered Global Management Accountant (CGMA) is the most widely held management accounting designation in the world,* and is awarded to CIMA members upon completion of the Professional Qualification, this remains unchanged. By adding CGMA to the name of the Professional Qualification, the Association of International Certified Professional Accountants® intend to reinforce its significance with employers and the management accountant community. In the Association’s own words, “the CGMA designation deserves to be seen, not just heard.”

How do I obtain the CGMA designation?

If you’re studying for your CIMA Professional Qualification, the good news is that you don’t need to do anything extra! Other than, of course, studying for your Professional qualification and working hard. Once you have completed this, including completing the practical experience requirements (PER) and becoming a CIMA member, you’ll automatically be entitled to the CGMA designation.

What does this mean for me?

As the only change to the Professional Qualification is the name, CIMA members will continue to have all the same opportunities as before, with the added benefit of increased global recognition. As this recognition builds, your opportunities as a CGMA designation holder will only expand, it should make you excited for an extremely bright future ahead.

The world is your oyster

To begin with, CGMA designation holders can treat the entire world as their job market offering you a wide range of international opportunities and job prospects.

The Association states: “Having these designatory letters tells the world you’re a trusted business strategist with the ability to connect all aspects of business to drive sustainable success. It says you have a commitment to professional ethics and a code of conduct.

Backed by a powerful array of benefits, your CGMA designation will let you stay connected to the pulse of your profession and become a champion for the business.” **

Progress your career further

It’s no secret that you may aim to progress more and more throughout your career in accounting and finance. You would usually do this by specialising in specific areas or by seeking promotions within your current workplace.

The CGMA competency framework provides the foundations for the Professional Qualification, so as a learner, you’ll be developing the right mix of skills and knowledge that employers will be looking for. The Framework is made up of four skill areas which can significantly develop your technical, business, leadership and people skills, which gives you the foundations to progress your career and stand out from the competition.

Ready to start your CGMA journey?

Take the first step towards earning the CGMA designation and browse our courses.

*AICPA & CIMA, Your journey to the CGMA® designation
** AICPA & CIMA, Earning CIMA’s CGMA® Professional Qualification