What is the Institute of Management Accountants

Management accountants will be presented with many opportunities for innovative actions in the global economic environment. Beyond their role of providing accurate, timely, and relevant information, management accountants will be expected to participate as business consultants and partners with management in the strategic planning process.

Approximately 82,000 financial professionals - Certified Management Accountants (CMA), controllers, accounting and financial managers, budget directors, and chief financial officers - are members of the Institute of Management Accountants (IMA).

Established in 1919, the IMA is the world's largest organization devoted exclusively to management accountants and financial managers. It is recognized by the financial community as a respected institution influencing the concepts and ethical practices of management accounting.

A not-for-profit educational organization, whose mission is to provide to its members personal and professional development opportunities through education, association with business professionals, and certification in management accounting skills.

Through research, educational programs, and professional publications, the Institute helps its members increase their knowledge of accounting and financial practices to broaden their professional capabilities.

The Institute of Certified Management Accountants, a program of the IMA, offers the Certified Management Accountant (CMA) designation - the only professional certification program designed specifically for management accountants and financial managers.

IMA is based in Montvale, New Jersey.

Two of IMA's newest programs are the Continuous Improvement Center (CIC) and The IMA Foundation for Applied Research, Inc. (FAR). The Continuous Improvement Center equips the financial manager with valuable information, contacts, techniques, and tools to help hone his or her competition edge. Its mission is to provide a cost-effective, independent, and objective framework for the continuous improvement of financial management organizations in their quest for world-class performance.

Membership is available to all organizations and consulting firms actively involved in performance improvement programs for finance and accounting processes.

The IMA Foundation for Applied Research, Inc. was formed in 1994 in recognition of the strategic importance of IMA's research role. Its mission is to develop and disseminate timely management accounting research findings that can be applied to current and emerging issues. It is self-supporting with voluntary contributions from corporations and individuals and book sales.

IMA's programs and services are continuously being expanded and updated to ensure that you have the latest information for your professional and personal growth. Here is a sample of what every member can enjoy:

• Certified Management Accountant (CMA) Program
• Continuing Professional Education
• Professional Relations
• Management Accounting magazine
• Member Interest Groups
• The IMA Foundation for Applied Research, Inc. (FAR)
• Continuous Improvement Center (CIC)
• Publications
• Professional and Leadership Development
• Information Services
• Member Discount Programs
• IMA's Standards of Ethical Conduct for Management Accountants

The 300+ chapters of the organization is the keystone of the Institute's growth and development. To stimulate this local activity a unique competition, conceived early in the Institute's development, has evolved. All basic chapter activities are categorized - from membership growth to public relations and publication in Management Accounting magazine development. Points are awarded to each function based on performance. Competitive spirit is high, and the awards to chapter leaders at the Annual Conference is a high point of the year's activities. Each chapter has its own Board of Directors and holds monthly technical meetings.

All persons qualified for membership under the Bylaws, are eligible provided they meet the following minimum criteria:

1. Effective January 1, 1996, all new IMA members except, CMAs, Emeritus Life Associates, Emeritus Life Members, Retired Members, and Student Members, will be required to meet a minimum standard for continuing professional education (CPE) of 10 hours per year as a condition of membership; that beginning January 1, 1998, the minimum standard of continuing professional education will increase to 20 hours per year; that all CPE hours must meet the qualitative specifications as set forth by the Institute of Certified Management Accountants; that CMAs will continue to meet a minimum standard for CPE of 30 hours per year; that the Board may adopt policies regarding CPE for volunteer leaders.

2. 1. Have a full four-year college degree, or
   2. Have a two-year college degree with a minimum of 15 semester hours in accounting plus four years of experience in a management accounting position at the time of admission, or
   3. Hold a CPA certificate, or an international certificate comparable to a CPA or CMA certificate, or
   4. Have six years of experience in management accounting, or
   5. Agree to complete 18 Continuing Professional Education (CPE) hours in IMA-approved programs (local or national) in each of the five consecutive years from the date of admission. A member not fulfilling the commitment will automatically be dropped from membership, or
   6. Be a college student carrying a minimum of six undergraduate or graduate hours (or equivalent) per semester within a school, college, or university in the United States.

Regular 1 year $ 135
International-at-Large (Must reside outside the U.S.A. and Canada) $ 135
Academic (Must be a full-time faculty member) $67.50
Associate (Must apply within 2 years of completing full-time studies) 1st year $ 45, 2nd year $ 90
Student (Must be carrying a minimum of 6 equivalent hours per semester) $ 27