THE SKILLS GAP IN ENTRY-LEVEL MANAGEMENT ACCOUNTING AND FINANCE. The Problem, Its Consequences, and Promising Interventions

Transcription

1 THE SKILLS GAP IN ENTRY-LEVEL MANAGEMENT ACCOUNTING AND FINANCE The Problem, Its Consequences, and Promising Interventions

2 THE SKILLS GAP IN ENTRY-LEVEL MANAGEMENT ACCOUNTING AND FINANCE The Problem, Its Consequences, and Promising Interventions EXECUTIVE SUMMARY In fall 2014, as part of the Competency Crisis TM initiative, APQC (American Productivity & Quality Center) and IMA (Institute of Management Accountants) surveyed professionals working in the finance and HR/recruitment functions on the state of entry-level management accounting and finance talent. The results reveal that, in the United States and around the world, organizations both large and small are experiencing a Competency Crisis in accounting and finance. The survey uncovers significant gaps between the competencies that organizations need and those that entry-level employees possess. Regardless of location, organization workforce size, or job role, survey participants agree on the competency problem, its consequences, and the most promising solutions. THE PROBLEM The employers represented in this survey seek entry-level talent with competency across a broad array of skills. Survey respondents primarily at the management/director level report that their entry-level management accounting and finance colleagues (defined as bachelor s degree holders with less than three years of work experience) have substantial deficiencies in many competency areas. Combined with other research and reporting, these results suggest that organizations have elevated and expanded the skill requirements for finance positions in particular, and for entry-level roles in general. Many, Large Competency Gaps The survey found large gaps between the competencies that organizations need for success and those that entrylevel management accounting and finance professionals possess. For each of the 25 technical and non-technical skills evaluated, APQC and IMA found gaps. Among Largest Gaps Are Skills Not Traditionally Considered Entry Level Entry-level job requirements have become more sophisticated, whereas the skills possessed by workforce entrants match more traditional expectations. The survey reveals that the following competencies have the largest gaps: Leadership Planning, budgeting, and forecasting Strategic thinking and execution Cost management Internal financial reporting/performance management Change management K APQC ALL RIGHTS RESERVED

3 Both Technical and Non-Technical Skill Deficiencies The survey results reflect both a technical and non-technical Competency Crisis among entry-level management accounting and finance talent. Organizations are experiencing gaps for some technical and most non-technical competencies. CONSEQUENCES Wide-Spread Hiring Challenges Nearly all organizations in the survey face challenges in hiring entry-level management accounting and finance talent, including a shortage of qualified candidates in local labor markets. In addition, respondents believe a major challenge to attracting qualified recent graduates to the management accounting and finance field is a perceived lack of defined career paths within organizations. Negative Business Impact The consequences of hiring challenges can include increased spending, reduced productivity, and diminished work quality. Nearly half of survey participants are experiencing increased time to fill entry-level positions. Roughly onethird are experiencing increased recruiting costs, and just under one-third are hiring under-qualified candidates to fill entry-level positions. Negative Employee Impact In addition to negatively affecting the performance and budgets of the finance function, entry-level hiring challenges also may be taking a toll on the morale of mid-career and entry-level finance professionals. The survey analyses indicate that organizations with more entry-level hiring challenges report lower job satisfaction among entry-level employees compared to organizations with fewer hiring challenges. Additionally, the survey results indicate that half of senior management accounting and finance professionals are satisfied with their jobs compared to under one-third of mid-career professionals and only one-quarter of entry-level professionals. Other studies have shown a relationship between unfilled job positions and declines in employee morale 1. Among other factors such as lack of career advancement opportunities and unsatisfactory entry-level compensation rates, skills shortages may contribute to lower job satisfaction among entry-level and mid-career finance employees. Problem Expected to Persist Overall, survey participants are moderately concerned about a shortage of qualified entry-level talent. Looking at their own organizations, respondents express some concern about a shortage in the next one to two years, and this increases to a moderate concern during the next 10 years. 3

4 INTERVENTIONS Survey respondents believe the Competency Crisis and hiring challenges will worsen. Reversing this trend within an organization, by improving hiring practices, will help its finance function deliver greater value, be recognized as a strategic partner, and ensure greater employee job satisfaction. The survey findings suggest a number of benefits, for a number of stakeholders, by effectively reducing entry-level finance competency gaps and hiring challenges. For finance, addressing the entry-level Competency Crisis may be one small step toward making more strategic contributions to an organization. However, it also is possible that the entry-level hiring issue is a symptom of finance s larger problem, which is not being perceived as a valued partner. Organizations where finance is seen as an administrative support function may be less likely to invest in addressing the entry-level talent issue. Which Interventions? Survey participants suggest interventions to improve hiring success that would involve collaboration among finance professionals, educational organizations, and professional associations. Possibly the most promising intervention is to develop career paths for management accounting and finance employees. Nearly half of survey participants see this as an effective intervention. About one-third report that mentoring management accounting and finance students is an effective intervention, and a similar proportion say offering internships to these students would effectively address the Competency Crisis. Just under one-third suggest developing relationships with professors and offering on-the-job training to entry-level employees. In addition to asking which interventions participants think would be most effective, APQC and IMA also looked at which hiring practices are used by organizations that have the smallest competency gaps. The hiring practices most strongly associated with smaller competency gaps hiring best practices include: involving entry-level employees in the hiring process, participating in job fairs, using internal (as opposed to contract or outsourced) recruiters, recruiting from technical schools, using social media in recruiting, and recruiting from professional associations. NEXT STEPS The survey results point to the need for multifaceted solutions involving the cooperation of different stakeholders. In particular, they suggest that resolving this problem and alleviating its consequences will require partnerships between organizations and educational institutions, as well as between finance and HR. 4

5 Partnership among Universities, Corporations, and Professional Organizations Each competency gap identified by this survey involves a skill that can be developed on campus and then refined on the job. As such, addressing these gaps involves partnerships among universities, corporations, and professional organizations. The development of leadership skills, for example, can begin in school, whereas other skills are better honed on the job. A partnership between schools and organizations could make for a more seamless development of each competency, which will require participation from finance professors, students, finance professionals, and industry representatives. Partnership Between Finance and HR The survey results suggest a lack of strategic, as opposed to tactical, HR involvement with the finance function. The lack of HR influence may limit the ability of finance to appreciate the magnitude of the Competency Crisis and identify and implement effective solutions. The survey results call out the need for finance professionals to partner with HR to learn about the finance labor market and the most effective ways to find and attract entry-level talent. This might lead finance to lower some of its expectations for entry-level talent while at the same time increase investments in developing entry-level hires. 5

6 INTRODUCTION In the fall 2014, as part of the Competency Crisis TM initiative, APQC (American Productivity & Quality Center) and IMA (Institute of Management Accountants) surveyed professionals working in the finance and HR/ recruitment functions on the state of entry-level management accounting and finance talent. For the purposes of this survey, entry-level management accounting and finance talent is defined as a bachelor s degree holder with less than three years of work experience. One hundred seventy-three professionals responded to the survey. Most hold managerial or director-level positions; and of these, 92 have responsibility for hiring entry-level management accounting and finance talent. One hundred twenty-six work in finance, 20 work in HR, and 25 work in other functions. Only statistically significant findings at or above the 95 percent confidence level are reported. The results reveal that, in the United States and around the world, organizations both large and small are experiencing a Competency Crisis in accounting and finance. The survey uncovers significant gaps between the competencies that organizations need and those that entry-level employees possess. Regardless of location, organization workforce size, or job role, survey participants agree on the competency problem, its consequences, and the most promising solutions. THE PROBLEM Survey respondents generally seek to employ entry-level talent with competency across a broad array of skills. Yet, participants report that their entry-level management accounting and finance colleagues have substantial deficiencies in many areas. Combined with other research and reports, these results suggest that organizations have elevated and expanded the skill requirements for finance positions in particular, and entry-level roles in general. In a separate 2012 survey of finance professionals, APQC and the EPM Channel found that general business skills such as collaboration and strategic planning are becoming increasingly important aspects of finance positions. 2 A 2014 Wall Street Journal article suggests that the elevation of entry-level skill requirements is a cross-industry and cross-profession phenomena. It states that entry-level positions today require skills that in the not-too-distant past were expected to be acquired after years in the workforce. The article cites skills such as problem-solving, critical analysis, and teamwork as being increasingly sought after in entry-level candidates. 3 Many, Large Competency Gaps The survey results reveal large gaps between the competencies that organizations need to succeed and those that entry-level management accounting and finance professionals possess. For each of the 25 competencies surveyed, APQC and IMA found gaps. Specifically, participants were asked to rate on a five-point scale (1=not at all; 3=moderately; 5=extremely) how important each competency is to their organization s success and how much that competency is possessed by entry-level management accounting and finance colleagues. Figure 1 shows the percentage of respondents stating that each competency is needed quite a bit or extremely for organizational success compared to the percentage who said that the competency is possessed quite a bit or extremely by entry-level management accounting and finance employees. For example, 87 percent of participants said that communication skills are needed, yet only 14 percent reported that entry-level professionals at their organization possess communication skills to this extent APQC ALL RIGHTS RESERVED

7 Percentage Agreeing Quite a Bit or Extremely : Skill is Needed Versus Skill is Possessed by Entry-Level Finance Professionals Figure 1 7

8 Among Largest Gaps Are Skills Not Traditionally Considered Entry Level APQC used the data from the competency ratings to calculate a gap score for each competency. Using the average gap scores, it ranked the competency gaps from largest to smallest in Figure 2. The top gaps occurred for the following competencies: leadership; planning, budgeting, and forecasting; strategic thinking and execution; cost management; internal financial reporting/performance management; and change management. Some of the competencies with the largest gaps were not traditionally considered entry-level competencies. Leadership is one example. Leadership is the only competency to make both the most needed and least possessed lists. Historically, leadership capabilities were expected to be developed throughout one s career. However, the survey participants say that entry-level finance professionals need leadership capabilities from day one in the workforce. In showing that entry-level management accounting and finance professionals are deficient in leadership skills, the results support the argument that entry-level job requirements have become more sophisticated, whereas the skills possessed by workforce entrants lag behind. Leadership is the only competency to make both the most needed and least possessed competency lists. 8

9 Competencies: Supply versus Demand Leadership Planning, budgeting, and forecasting Strategic thinking and execution Cost management Internal financial reporting/performance management Change management Process improvement Business acumen Enterprise risk management Corporate finance Decision analysis Internal controls Project management Conflict management Negotiation and conflict resolution Team building Communication Financial statement analysis Customer service External financial reporting Collaboration Adaptability Professional ethics Technology General accounting Figure 2 Both Technical and Non-Technical Skill Deficiencies Average skill gap N=173 The survey results reflect both a technical and a non-technical Competency Crisis among entry-level management accounting and finance talent. Figure 3 lists the top technical and non-technical skills gaps. Figures 4 and 5 depict the size of all the technical and non-technical skills gaps. 9

10 Top Technical and Non-Technical Competency Gaps Top Technical Competency Gaps Planning, budgeting, and forecasting Top Non-Technical Competency Gaps Leadership Cost management Internal financial reporting/performance management Enterprise risk management Strategic thinking and execution Change management Process improvement Corporate finance (including investment decision making) Business acumen Figure 3 Technical Skills Gap: Supply versus Demand Planning, budgeting, and forecasting Internal financial reporting/performance management Cost management General accounting Internal controls Technology Skill needed for success Decision analysis Skill currently possessed Financial statement analysis Corporate finance External financial reporting Enterprise risk management Average skill rating Figure 4 10

11 Non-Technical Competency Gap: Supply versus Demand Figure 5 11

12 Together, these figures show that organizations are experiencing gaps for both technical and non-technical skills. A potential reason for these gaps may be attributed to the type of training that is typically given to entry-level employees. For example, it is common for organizations to offer more technical as opposed to non-technical skills training, especially to early-career employees. APQC and EPM s 2012 finance survey found that 75 percent of finance organizations offer technical training, but only 48 percent do the same for soft skills. 2 Skills gaps can be closed by adding new learning experiences to the finance educational curriculum, offering more internships to finance students, and/or offering accelerated training and development during the first year of employment. (This report s Interventions section explores this topic.) If changes are not made, then organizations will continue to experience the negative consequences of the skills gap. CONSEQUENCES WIDE-SPREAD HIRING CHALLENGES Nearly all survey respondents face challenges in hiring entry-level management accounting and finance talent (Figure 6). Overall, survey respondents perceive that recent graduates are not interested in pursuing management accounting and finance jobs. The top hiring challenges include a lack of entry-level talent to meet organizational demand (Figure 7). In addition, respondents believe a major challenge to attracting qualified recent graduates to the management accounting and finance field is a lack of visible career paths. A lack of workforce planning may translate into finance not having the necessary lead time to address career path and labor market challenges. Figure 8 shows all hiring challenges. Of note, few participants (only 16 percent) report that their organization s hiring requirements for entry-level finance positions are too stringent. Top hiring challenges include a lack of entry-level talent to meet organizational demand. 12

13 Percentage of Organizations Facing Challenges in Hiring Entry-Level Management Accounting and Finance Talent Figure 6 Top Challenges in Hiring Entry-Level Management Accounting and Finance Professionals Top Hiring Challenges Not enough professionals to satisfy local labor market demands Lack of career path for finance professionals within an organization Not enough qualified professionals coming out of schools Inadequate workforce planning Lack of competitive compensation for finance professionals in an organization Figure 7 13

14 Top Challenges in Hiring Entry-Level Management Accounting and Finance Professionals Percentage of participants in agreement with top challenges Figure 8 14

15 Negative Business Impact Hiring challenges typically have negative consequences. The survey reveals that the top consequences resulting from challenges in hiring entry-level finance talent include increased spending, reduced productivity, and diminished quality (Figure 9). Only 5 percent of organizations report no negative impacts, whereas nearly half experience increased time to fill entry-level management accounting and finance positions. Roughly one-third of organizations in the survey are experiencing increased recruiting costs, and just under one-third are hiring under-qualified candidates to fill entry-level positions (Figure 10). Top Consequences Resulting from Hiring Challenges Consequences Increased time to hire/fill positions Increased recruiting costs Hiring less qualified entry-level professionals Unfilled entry-level positions Increased training expenses for entry-level employees Diminished quality of finance work output Figure 9 15

16 Top Consequences Resulting from Hiring Challenges Percentage of participants in agreement with top consequences Figure 10 16

17 Negative Employee Impact Entry-level hiring challenges also may be taking a toll on the morale of mid-career and entry-level finance professionals. Statistical analyses of the survey results show that organizations with more hiring challenges have lower job satisfaction among entry-level employees. The survey results indicate that half of senior management accounting and finance professionals are satisfied with their jobs compared to under one-third of mid-career professionals and only one-quarter of entry-level professionals (Figure 11). Percent of Management Accounting and Finance Professionals Very Satisfied with Job Figure 11 Other studies have shown a relationship between unfilled jobs and lowered employee morale 1. Among other potential factors such as lack of career advancement and unsatisfactory compensation skills shortages are likely contributing to lower job satisfaction among entry-level and mid-career finance employees. Unfilled finance positions can add to the workload of existing finance employees, which makes it difficult for them to develop professionally. Moreover, the finance function may be reluctant to promote entry-level and mid-career talent if it will be difficult to fill its vacated positions. Problem Expected to Persist Overall, survey participants are moderately concerned about a shortage of qualified entry-level talent. Looking at their own organizations, participants have little concern about a shortage in the next one to two years but a moderate concern over the next 10 years (Figure 12). 17

18 Percentage of Participants Very Concerned About a Shortage of Entry-Level Management Accounting and Finance Talent at Their Organization Figure 12 Larger Competency Gap, Greater Concern for Future of Finance Talent Having a larger competency gap can lead to a skills shortage today, in one to two years, and in three to five years. Competency gaps across responding organizations with different employee headcounts and annual revenues suggest that organizations are not adequately addressing the entry-level management accounting and finance talent problem. INTERVENTIONS Survey respondents believe the Competency Crisis and hiring challenges will worsen. Reversing this trend within an organization by improving hiring practices will help its finance function to deliver greater value, be recognized as a strategic partner, and ensure greater employee job satisfaction. Addressing the entry-level Competency Crisis may be one small step toward finance making more strategic organizational contributions. Nearly half of survey participants said that if challenges in hiring entry-level talent were removed, then finance would deliver significantly more value to their organizations (Figure 13). Although a majority of finance functions deliver moderate or higher value to their organizations, only half of survey participants report that finance is seen as a strategic, value-adding partner at their organizations (Figure 14). These results suggest that finance could be doing more to add strategic value. The survey analyses support this. For example, participants working in organizations with a larger overall competency gap provide higher assessments regarding how much additional value finance could deliver if hiring challenges are eliminated. 18

19 Additional Value Finance Could Deliver to Organization Figure 13 Amount of Value Finance Is Delivering to Organization Today Figure 14 19

20 APQC and EPM s 2012 research on the finance function also indicates that finance could deliver more value to the organization. That study concluded: There is a staggering gap between the potential value that the typical finance organization can deliver to its stakeholders and the value now being delivered. 2 This APQC/IMA study suggests that entry-level talent could be a part of the solution. However, it also is possible that the entry-level hiring issue is a symptom of another problem with finance being seen as primarily an administrative role. For example, if students perceive that finance is less important than other functions, then they may not seek to increase their competencies and thus sacrifice the ability to perform in a more strategic role. Similarly, if CEOs do not see finance as a strategic function, then CFOs are not likely to invest in entrylevel talent issues. In fact, another conclusion of the APQC/EPM study was that finance professionals who are considered strategic, value-adding business partners tend to work for CFOs who have a strong commitment to professional training, including crucial soft skills training. WHICH INTERVENTIONS? Survey participants suggest interventions to improve hiring success that would require significant participation from finance professionals, educational organizations, and professional associations. These findings suggest a need for stronger, more personal relationships between the universities that educate finance professionals and the organizations that employ them. According to participants, the most promising intervention is to develop career paths for management accounting and finance employees. Nearly half of participants saw this as an effective intervention. Developing career paths for entry-level employees can help clarify which skills and competencies are needed to advance job positions. About one-third of participants report that mentoring management accounting and finance students is an effective intervention, and a similar proportion of participants say offering student internships would effectively address the Competency Crisis and alleviate hiring challenges. Just under one-third say that organizations developing relationships with professors and offering on-the-job training to entry-level employees would be effective (Figure 15). There is a need for stronger, more personal relationships between the universities that educate finance professionals and the organizations that employ them. 20

21 What Participants Say are the Most Promising Interventions Percentage of participants in agreement with top interventions Figure 15 21

22 What the Data Suggest Are Also Promising Interventions In addition to asking which interventions participants think will be most effective, APQC and IMA also looked at hiring practices used by organizations that have the smallest competency gaps. The hiring practices listed at the top of Figure 16 have the strongest statistical associations with smaller competency gaps. All of the hiring practices in Figure 16 show statistically significant relationships with smaller competency gaps, which makes them hiring best practices. Hiring Practices Associated With an Organization Having Smaller Competency Gaps Hiring Practices 1. Involve entry-level management accounting and finance employees in the hiring process 2. Job fairs 3. Internal recruiters 4. Technical school/technical college recruiting 5. Social media recruiting 6. Recruiting from professional associations 7. Temporary agencies 8. Hiring or signing bonus 9. Selection for fit with organizational culture 10. Above market compensation 11. College/university recruiting Figure 16 22

23 Effectively implementing these interventions would likely require the finance function to more fully tap the expertise of HR professionals and/or improve its understanding of the labor market and the factors that attract entry-level talent. For example, HR professionals might advise that finance increase hiring budgets to keep pace with the function s needs for more skilled entry-level talent. In addition, HR professionals might recommend that finance lower some of its expectations regarding entry-level competency requirements and adopt accelerated development of these skills during the first years on the job. Loosening Hiring Requirements Not Considered a Promising Intervention It is important to note that survey participants do not think hiring challenges are the result of organizations having job requirements that are too stringent or companies being unwilling to invest in training. Less than one-quarter indicated that their organization aims to hire ready now finance professionals that can perform the job role day one. Half said their organization seeks professionals with basic finance and accounting skills but is willing to train for more advanced skills. One-third indicated that they equally seek ready now and ready with development talent (Figure 17). Greater partnership with HR could ensure that finance is accurately calibrating its expectations regarding job requirements and training investments against the realities of today s entry-level finance labor market. Organization s Hiring Philosophy for Entry-Level Management Accounting and Finance Talent Figure 17 23

24 NEXT STEPS There are no quick fixes to the Competency Crisis in entry-level management accounting and finance. The survey results point to the need for multifaceted solutions involving the cooperation of many stakeholders. In particular, the survey findings suggest that resolving this problem and alleviating its consequences will require partnerships between organizations and educational institutions, as well as between finance and HR. Only with such collaboration will there be promotion and guidance of the profession for individuals as they progress from new hire through mid-career. Partnerships will enable career paths in management accounting and finance to be established in organizations, publicized and prepared for on campus, and continually fueled by professional association- and company-provided career development. PARTNERSHIP AMONG UNIVERSITIES, CORPORATIONS, AND PROFESSIONAL ORGANIZATIONS Each competency gap identified by this survey can be developed on campus and then refined on the job. As such, addressing these gaps involves partnerships among universities, corporations, and professional organizations. For example, the development of leadership skills can begin in school, whereas other skills are better honed on the job. A partnership between schools and organizations could make for a more seamless development of each competency, which will require participation from finance professors, students, finance professionals, and industry representatives. Resolving the Competency Crisis and alleviating its consequences may involve building partnerships between organizations and educational institutions, as well as between finance and HR. PARTNERSHIP BETWEEN FINANCE AND HR The survey results suggest a lack of strategic, as opposed to tactical, HR involvement with the finance function. The lack of HR influence may limit finance s ability to appreciate the magnitude of the Competency Crisis and to identify and implement effective solutions. The lack of HR influence may limit the ability of finance to fully appreciate the magnitude of the Competency Crisis and its consequences, as well as the ability of finance to identify and implement effective solutions. 24

25 For example, the survey results raise the following questions: Has finance raised its competency requirements for entry-level jobs to unrealistic levels? Does finance need to increase its willingness to invest in developing entry-level hires? Are there too few entry-level management accounting and finance professionals in the labor market in part because organizations lack or fail to publicize clear career paths? Is finance underestimating the non-technical competency deficiencies among entry-level talent? In considering entry-level competency gaps, does finance accurately gauge HR-related consequences and interventions? The survey results call out the need for finance professionals to partner with HR to learn about the finance labor market and the most effective ways to find, attract, and prepare entry-level talent. 25

26 APPENDIX: PARTICIPANT DEMOGRAPHICS A majority of survey participants have responsibility for hiring entry-level management accounting and finance talent (Figure 18), are at the director and manager level or above (Figure 19), and are based in the United States (Figure 20). Completed surveys represent organizations from a wide variety of industries, with a range of employee headcounts (Figure 21) and reporting a range of annual revenues (Figure 22). Survey responses did not significantly differ among participants from these different demographic groups. Have Responsibility for Hiring Entry-level Management Accounting and Finance Talent Figure 18 N=127 26

27 Survey Participant s Job Level Figure 19 27

28 Survey Participant s Primary Location N=168 Figure 20 Number of Employees Figure 21 28

29 Annual Revenue Figure 22 END NOTES 1. CareerBuilder. Companies Losing Money to the Skills Gap, According to CareerBuilder Study. CareerBuilder, March, APQC and EPM Channel. A New CFO Priority: Talent Development with a Focus on Soft Skills, Lauren Webar and Melissa Korn. Where Did All the Entry-Level Jobs Go? Wall Street Journal. August 6,

30 ABOUT APQC APQC is a member-based nonprofit and one of the leading proponents of benchmarking and best practice business research. Working with more than 500 organizations worldwide in all industries, APQC focuses on providing organizations with the information they need to work smarter, faster, and with confidence. Every day we uncover the processes and practices that push organizations from good to great. Visit us at and learn how you can make best practices your practices. ABOUT COMPETENCY CRISIS The Competency Crisis TM community was created in 2013 to unite accounting and finance professionals, HR and recruiting professionals, students, employers, academics, and others to examine the skills gap in management accounting and finance, through the lens of each stakeholder group. Its mission is to encourage collaboration, spur action, and build a community dedicated to resolving the serious crisis of competency present in the profession. For more information, visit The Competency Crisis website and its supporting platforms were developed by nonprofit organization IMA (the Institute of Management Accountants), the association of accountants and financial professionals in business. IMA is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 70,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe and Middle East/Africa. For more information about IMA, please visit 30

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