New Accountant Deep Dives into Why CPAs Should Obtain a CMA (Certificate of Management Accountant)

    CHICAGO, IL, August 18, 2022 /24-7PressRelease/ -- The featured New Accountant Cover Story, "Distinguish Yourself with the CMA" by Roopa Venkatesh, exalts the benefits of obtaining the CMA certification via the CMA Scholarship Program offered by the IMA. Readers can read about the career journeys of five young professionals who've made great strides by their decision to participate in this program and pursue the CMA. "Being a CMA has been enormously helpful in my current job," says one young professional, Milly Ikundi, CMA, CPA and finance specialist for a leading global consulting firm. "It's helped me communicate effectively in a way that provides insights and influences leadership to make the right decisions." There are a number of scholarships, awards and competitions for professionals to consider, offering significant monetary rewards and recognitions.

This leads us to the next step, "When's the Best Time to Take the CMA Exam?" by Laurie Burney, Ph.D., CMA, CSCA, Associate Professor of Accounting at Baylor University. She writes, "An ideal situation would be for students to schedule their exams once they've completed the relevant coursework and supplement their understanding of the concepts by taking a review course." In addition, the article gives several helpful sample questions as well as invaluable tips and advice for taking the multiple-choice section as well as the essay section of the CMA.

Internships and interviews are two main areas of focus for potential job candidates. Douglas K. Barney, Professor of Accountancy at Indiana University SE and Assistant Professor Michael Wicek, have penned two article that address each of these areas separately.

"Get the Most from Your Internship" helps students navigate their internships wisely by offering the following tips: learn about the company and how you would provide value, consider the internship as a long interview, identify a mentor or mentors, network, be willing to learn and make mistakes, expect to be overwhelmed, seek opportunities and rotate positions, determine if this discipline and company are right for you, be prepared to possibly work from home yet still stay connected and lastly, enter and leave with grace. "Apply the advice above and you are well on your way to a valuable and rewarding internship," write the authors.

"8 Parts to a Great Interview" breaks down the key areas every job candidate needs to know about interviewing. They are as follows: Appearance, Opening & Closing, Preparation, Direction, Verbal Skills, Maturity, Qualifications and Personality. Each category is expanded upon in detail with valuable information for interviewees. "Completing a great interview is important; leave the interviewer with a positive impression," they write.

Along these same lines, Brandi Britton, Executive Director, Contract Finance & Accounting at Robert Half recruiters offers her advice in "How to Build Your Accounting LinkedIn Profile". She offers the following tips and expands on them, to help a profile stand out: uploading a high quality photo of yourself; completing the entire summary section; proofreading for spelling and grammar errors; crafting an overall attention-getting LinkedIn profile; making your headline count; using targeted keywords; highlight your credentials, as for recommendations and last but not least, don't stress if you lack experience!

In "Embracing Hybrid Work to Drive Success", Kelly Gast, CFO and Head of Finance, Crop Science at Bayer AG talk about the shift in traditional workplace and methods since the pandemic. "Adapting to a realigned corporate culture, embracing virtual collaboration and building trustworthy connections with virtual teams have become expectations rather than perks." The author stresses that companies need to define what hybrid work means to them and the core values that go along with them. Additionally, she offers tips for employees, such as showing up consistently and authentically, keeping important structure, offering viewpoints, and pursuing professional development.

Another timely article published in this issue is aptly titled, "Megatrends Shaping the Future of the Profession" written by Jeff Thomson, CMA, CSCA, CAE, President & CEO of IMA. These trends include - automation will no longer be debated; remote working has become the norm; environmental, social and governance (ESG) reporting will become more important; finance is now accountable for Enterprise Risk Management (ERM); diversity, equity & inclusion (DEI) will be a competitive differentiation; upskilling is the call to action.

"Ethics and Data Analytics Go Hand in Hand" by Fatema El-Wakeel, CMA, Head of Global Data Platforms, Unilever, discusses how ethical decision affect all segments of accounting such as Data Governance, AI, Data Visualization, and Analytics Communication. "Having ethics and data analytics top of mind during decision making can support an organization's strategic planning, compliance and risk management," she writes, "as well as safeguard its reputation."

In "Cultivating Entry-Level Talent", Strategic Finance Magazine Editor & IMA, Daniel Butcher interviews Katherine Motlagh, CFO of CyrusOne, Hilla Sferuzza, CFO of Meritage Homes and Mitch Perry, CFO of BCBS of North Carolina. They all give valuable insight to questions such as, 'What skills are you looking for in new hires?', and 'How has technology changed the role of the finance function and how does that change what you look for in entry-level staff?' These executives offer solid advice to help organizations attract, prioritize, and cultivate high potential entry-level employees to stock their talent pipeline.

Dennis Whitney, CMA and SVP of IMA offers four critical skillsets that must be mastered outside of the traditional accounting role, to have a successful accounting career in "Reimagining the Role of Management Accountants". These are: 1) having a mindset for growth 2) technology skills 3) interpersonal skills and 4) strategic and critical thinking. "Our profession is being called upon us to lead business transformation in the Digital Age," he writes.

In "Networking Best Practices" by Marc Gerrone, CAE and Senior Director, Communications & PR, IMA, offers the best practices for crucial and effective networking in any industry. "Based on my experiences, I came up with some best practices for networking, regardless of whether you're participating virtually or in-person," he says. Some helpful tips include doing your homework and checking the roster of attendees ahead of time; preparing an elevator speech and back-pocket questions; remembering that networking is business, not pleasure; and finally, following up via email and social media.

Steve McNally, CMA, CPA and CFO of Plastic Technologies, Inc. Group of Companies writes "Sustainable Business is Good Business for Management Accountants". He points out that "a company's stakeholders are increasingly asking for more than just information about profitability…but for measures related to the organization's environmental, social and governance (ESG) activities." He categorizes sustainable business practices into two categories – high-profile investments and small investments that add up – while elaborating about the benefits of each category.

The last of the Management Accountant series of articles is entitled "The Management Accountant's Role in Driving Diversity, Equity & Inclusion" written by Loreal Jiles, VP, Research and Thought Leadership, IMA. She stresses that both employers and candidates alike are putting more emphasis on DEI practices. "Students are in a unique position to take advantage of this zeitgeist moment in DEI [by being] selective about the types of employers they want to work for and the roles they want to hold," she says.

"Prepare and Persist: Coach Marv Levy's Words to Live By" is a real and heart-warming interview by Cathy Demetropoulos with the NFL Hall-of-Famer and Coach extraordinaire, Marv Levy. Readers can also enjoy New Accountant's fun pieces, such as "Reading Between the Lines: What They Really Mean When They Say…" a funny translation on what to look out for in job postings and "Benefits of Starting an IMA Student Chapter on Campus", one of the best ways t learn more about management accounting.

Published since 1985, New Accountant is a professional print and digital publication edited for college accounting students and accounting professionals to prepare for a career in accounting, auditing and industry. For more information, please visit NewAccountantUSA.com; email [email protected]

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