Nearly 50 Chartered Management Accountants from around Sunderland and the North East celebrated their new global status as Global Chartered Management Accountants (CGMAs) and looked forward to the future at an event run by the Chartered Institute of Management Accountants (CIMA) celebrating the joint venture CIMA has formed with the American Institute of Certified Public Accountants (AICPA) hosted at Nissan Motor Manufacturing(UK) Ltd, Washington Road, Sunderland on 4th April March 2012.
The AICPA and CIMA recently launched the new Chartered Global Management Accountant (CGMA) designation, a single global quality standard, which means CGMAs have greater mobility – they can move with confidence around the organisation - and around the world. 75% of the CEOs in our survey said that they would want their existing finance employees to obtain the CGMA designation which highlights training and leadership skills so they can help their colleagues understand income and costs, and risks and opportunities of all kinds – not just financial. Nearly 50 Chartered Management Accountants celebrated this new global status in Sunderland last week.
Speaking at the event Harold Baird, FMCA, CGMA President of CIMA, said, “Businesses are facing unprecedented challenges. One of the key struggles faced by CEOs is building sustainably for the future in the face of a fixation on financial, short-term gains. Our research shows there is an unmet need in the measuring of non-financial information within organisations. Management accountants, who have the depth and breadth to understand the business from multiple perspectives, can help businesses succeed in troubled times and create long-term sustainability.”
Three-quarters of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance, according to research from the AICPA and CIMA. However, just 51% of nearly 300 CEOs surveyed in 21 countries say their organisations currently measure the value of non-financial assets well or very well. And only 12% now turn to their finance teams for help with the task. CIMA run a series of events for students, members and guests in Newcastle and across the UK on a regular basis across the year. For further information visit www.cimaglobal.com/localevents