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1 IMA Student Chapter Award of Excellence Outstanding Student Chapter Outstanding Strategic Plan Outstanding Communications Outstanding Programs and Activities Program Please review carefully. Submission guidelines have changed.
2 Table of Contents IMA Mission and Vision Statement, Program, and Ethics Code Program Procedures....3 Award of Excellence Requirement Guidelines for First Submittal. 4 Letter of Intent Graduate Listing Strategic Plan: Mission Statement and Vision Statement Chapter s Strengths and Weaknesses Goals and Strategies Treasurer s Budget Timeline of Key Events Award of Excellence Requirement Guidelines for Second Submittal... 5 Administrative Reports: Student Chapter Profile Board Meeting Minutes Training of Officers/Leadership Training Seminar Scholarship Application Report, Manuscript Competition, and/or CMA Examination Student Case Competition or Clark Johnson Achievement Award Submission Planning and Evaluation: Scorecard /Executive Summary Treasurer s Report Programs and Activities: Educational Meetings Plant Tours/Industry Visits CMA Awareness Program New Member Orientation Meeting Community Service Projects Other Sponsored Activities Communications: Internal Communications External Communications Second Submittal Overview Appendices A. IMA Student Chapter Letter of Intent...10 B. IMA Student Chapter Profile...11 C. Sample Schedule of Budgeted Revenues and Expenses D. Sample Schedule of Actual/Budgeted Revenues and Expenses..13 E. Educational Programs Form 14 F. Other Programs and Activities Form..15
3 IMA (Institute of Management Accountants) sponsors this program for student chapters (IMASCs). All chapters are eligible and encouraged to participate. The program is directed principally toward stimulating the chapters to promote the Mission and Vision of the Institute as well as to provide a broad spectrum of activities and services to its student members. IMA Statement of Mission To provide a forum for research, practice development, education, knowledge sharing, and the advocacy of the highest ethical and best business practices in management accounting and finance. IMA Vision Statement To be the resource for developing, certifying, connecting, and supporting the world s best accountants and financial professionals within businesses Program The Award of Excellence will be awarded to those student chapters meeting the requirements as established by IMA. The program s emphasis is on IMA and the promotion of management accounting/financial management as a profession and a career while encouraging IMASCs to be creative in providing services to their members. There are three levels of achievement in this year s program: Gold, Silver, and Bronze. The participating student chapters will select from one of these three levels of activity, whichever best fits the current situation of their chapter. The Award of Excellence Certificate recipients will be those student chapters fulfilling the requirements of that selected level of achievement. While the emphasis of the program is on successful achievement of goals versus competition between chapters, the Outstanding Student Chapters will be selected from chapters meeting the requirements for the Gold Award of Excellence level. The competition generally awards one Outstanding Student Chapter recognition to a two-year program and three Outstanding Student Chapter recognitions to four/five year programs, subject to the quantity and quality of submittals received. Within the scope of incorporating IMA s Mission and Vision Statements into the IMASC s activities, judging criteria are divided equally into four areas: Planning and Evaluation, Communications, Programs and Activities, and Administrative. Winners will be presented an Outstanding Student Chapter Award at IMA s Student Leadership Conference in November Awards will also be presented for Outstanding Strategic Plan, Outstanding Communications, and Outstanding Programs and Activities. Schools participating in the Award of Excellence program will automatically be considered for these three awards. Schools not participating in the Award of Excellence program are eligible to apply for the Outstanding Communications and Outstanding Programs and Activities awards. Winners will be presented their awards at IMA s Student Leadership Conference in November Ethics Code Chapter officers and faculty advisors are to adhere to the standards of ethical conduct for management accountants and finance professionals in reporting the results of chapter operations.
4 Program Procedures: 1. Read all materials contained in this year s program requirements. 2. Prepare the first submittal that includes a Letter of Intent, a Strategic Plan, and a Graduate Listing for IMASCs striving to earn the Award of Excellence. For IMASCs competing only for the Outstanding Communications or the Outstanding Programs and Activities awards, a Letter of Intent and a Graduate Listing are required. The names submitted on the Letter of Intent will be the contact for all correspondence related to the program. 3. The first submission must be prepared in either Word or.pdf format and sent as an attachment to AOE@imanet.org by DECEMBER 1 st. Files cannot be larger than 75mb. 4. Prepare the second submittal. Complete and prepare supporting documentation for all of the required items for your level of participation as declared on your Letter of Intent. If due to an extreme unforeseen circumstance, a school fails to meet the minimum standards for the level of participation originally selected, they may submit a request to downgrade their submittal to a lesser level of participation. This action will automatically disqualify the student chapter from the Outstanding Strategic Plan award. Such request must include a detailed explanation of the circumstance leading to the downgrade request and is due by March 31, The second submittal must be prepared in either Word or.pdf format and sent as an attachment to AOE@imanet.org by May 15, Please do not ZIP these submittals. The second submittal must be prepared with a standardized Table of Contents following the order presented on the requirement listing for each level of recognition. All listed events within the AOE must have occurred by April 30, Files cannot be larger than 75mb. 6. Files for each program area (Administrative, Planning & Evaluation, Program and Activities, and Communications) should be sent separately. 7. The submittals for the winners of the Outstanding Student Chapter recognition will be displayed at IMA s Student Leadership Conference and held for a period of one year. Your input and suggestions for improvement or modification of the program are encouraged. Please send your valuable input to research@imanet.org. 3
5 First Submittal: Due by DECEMBER 1st Administrative Reports: 1. Letter of Intent The Letter of Intent (see Appendix A) is to be completed by the Chapter President and Faculty Advisor and indicates the chapter s intended level of involvement for the program. 2. Graduate Listing Present a list of the names and addresses, if known, of all of your school s IMA members who have graduated within the past year. This information will be cross-referenced with the current address on record in the IMA database so that IMA can continue to provide graduates with services. Planning and Evaluation: Strategic Plan (for IMASCs participating in the Award of Excellence program) A Strategic Plan must be submitted with the Letter of Intent. For the program, this plan will cover the fiscal year ending April 30. The Strategic Plan establishes the long-term vision of the chapter for the future and plans for its achievement. The plan will encompass the following areas: The specific Vision Statement of the chapter. The specific Mission Statement of the chapter. The chapter s Strengths and Weaknesses. The chapter s Goals for the current year. The chapter s Strategies for achieving each goal. Treasurer s Budget of Revenues and Expenses for the fiscal year ending April 30, (See Appendix C for a sample budget form.) An estimated Timeline of Key Events that are planned for the current program year. At least one event must be devoted primarily to the topic of ethics. This can be accomplished by sponsoring a speaker whose topic is Ethics, by publishing an article on Ethics in the IMASC s newsletter, by using ethics as the main topic for the student manuscript, or by any other means deemed appropriate by the IMASC. Indicate on your timeline which activity you anticipate will include this ethical component. 4
6 Second Submittal: Due by May 15, Administrative Reports: NOTE: Chapters participating in the Award of Excellence Program should submit all of the following. Chapters competing only for the Outstanding Communications and/or the Outstanding Programs and Activities awards should submit only the Student Chapter Profile. a. Student Chapter Profile The Student Chapter Profile (as shown in Appendix B) is to be completed by the IMASC President or Faculty Advisor. Signatures are required. This form will help the IMA to gather information about the various IMASCs and establish a communication network. b. Board Meeting Minutes A copy of all Board Meeting minutes should be included, providing a picture of all the activities planned and conducted by the chapter. c. Training of Officers/Leadership Training Seminar It is important for IMASCs to provide training for chapter officers in order to enhance their leadership capabilities and clarify their responsibilities. This could be accomplished by attending a Leadership Training Seminar (LTS), holding a training workshop presented by the faculty advisor, providing training by peers who have previously held offices in the IMASC, and/or having representation on the parent chapter board where student board members share their new knowledge of effective governance with other student chapter officers. d. Scholarship Application Report, Student Manuscript, and/or CMA Examination Each student chapter is required to have at least one member participate in two of these individual efforts: 1. apply for an IMA Global Scholarship For information on the IMA Scholarship application please go to /students. Include with your second submission a list of scholarship applicants and their IMA membership numbers. PLEASE NOTE: The scholarship applications must be submitted by February 15, participate as author(s) of a manuscript that is submitted for consideration in the IMA Student Manuscript Competition. If submitting a student manuscript, include a copy of the Authorization to Publish Form. Information on manuscript submissions and the Authorization to Publish Form can be obtained at PLEASE NOTE: Submissions for the Manuscript Competition must be postmarked by March 1, sit for one or both parts of the CMA examination Contact Customer Service at (800) for information on the CMA Examination. Submit the name and membership number(s) of the student(s) who have sat for a part(s) of the examination in your presentation. PLEASE NOTE: The student member(s) must have taken a part of the CMA Examination by April 30,
7 e. Student Case Competition/Clark Johnson Achievement Award Chapters competing for the Gold Award can meet this team requirement by either: 1. participating in the IMA Student Case Competition If participating in the case competition, include a listing of student members participating. The Case can be found in the August issue of Strategic Finance Magazine or at PLEASE NOTE: The deadline for the Student Case Competition submission is February 1, OR 2. submit a project for the Clark Johnson Achievement Award. The submission should include a description of a program, event, or project that the student chapter has undertaken. The Clark Johnson Achievement Award will be presented at the IMA s Student Leadership Conference to an IMA student chapter that demonstrates innovative achievement in meeting the needs of IMA regular and student members. Submission deadline is March 1, b. Planning and Evaluation: a. Scorecard /Executive Summary Each chapter must submit a scorecard or executive summary detailing its level of success at achieving its strategic plan goals. This document should serve as a high level review of accomplishments and of areas for improvement for the student chapter. b. Treasurer s Report Prepare a report as of April 30, Include three columns: Budget, Actual, and Variance for each revenue and expense item. (See sample report in Appendix D.) Provide a report explaining any variance of 10% or more. c. Programs and Activities (for IMASCs participating in the Award of Excellence program or for the Outstanding Programs and Activities award): a. Educational Meetings typically include speakers who provide opportunities for chapter members to enhance their knowledge about business, including topics relating to careers in these fields. Suggested programs include: management accounting/financial management practices and career opportunities in manufacturing, service, government, not-for-profit, and education sectors ethics management and leadership skills presentation skills career development and job seeking skills such as interviewing techniques, etiquette, and dressing for success A minimum of three (3) IMASC-sponsored educational meetings are required for the Gold Award. All such meetings should, however, be reported. The submittal should also include any local chapter, Annual Conference, or Student Conference speaker presentations that were attended by members of your IMASC. The form shown in Appendix E must be completed for each meeting. b. Plant Tours/Industry Visits include tours of facilities that will provide exposure to different products, services, facilities, and methods of operation, expanding the participating member s perspective. A discussion or presentation of business-related procedures by a company representative should be included. Also include any Student Conference tours that were attended by members of your IMASC. A minimum of one (1) IMASC-sponsored plant tour/industry visit is required. The form shown in Appendix E must be completed for each tour or visit. 6
8 c. CMA Awareness Program The purpose of this activity is to promote the growth of the CMA Program by providing an overview of the program, its requirements, and the examination. It is recommended that your sponsoring Chapter or Council be contacted to provide a speaker. The form shown in Appendix F must be completed for this presentation. d. New Member Orientation Meeting The purpose of this activity is to inform new members about the activities of the student chapter, the sponsoring IMA chapter, the benefits and services available from IMA, an outline of the ways that they can become active in your chapter, and the benefits of continuing membership after graduation. Include a brief description of this presentation. e. Community Service Projects Include a description of each community service project completed. These projects encourage the involvement of IMASCs and members in providing assistance to the local community. A minimum of two (2) community service projects are required for the Gold Award. The form shown in Appendix F must be completed for each project. If available, also include documentation of the project such as a thank you letter from the recipient of your service, photos of the event, etc. f. Other Sponsored Activities Include documentation of other sponsored activities that demonstrate support of IMA s Mission and Vision Statements that do not fit directly in one of the above categories. For example, include all activities associated with attending IMA Regional Council meetings, your IMASC s social events, fundraising efforts, and so forth. The form in Appendix F must be completed for each project. d. Communications (for IMASCs participating in the Award of Excellence program or for the Outstanding Communications award): a. Internal Communications covers all communications to other IMA members. This is critical to inform members of IMASC activities as well as to maintain interest in and enthusiasm for the IMA. Clearly explain and document the frequency and content of all communications with other IMA members. These communications can be in any format. Examples of this include (but are not limited to) s, Facebook postings, and newsletters. Communications to members should include: announcements of and information about future events, including meeting times and locations. accomplishments of the IMASC. information regarding the Global/Regional/Local Chapter IMA. These can include, but are not limited to, the Student Leadership Conference, Annual Conference, Regional Council Meetings, Local Chapter Meetings, or IMA benefits such as IMA scholarships. information about the CMA Examination. contact information for the IMASC board, as well as the faculty advisor. A minimum of six (6) Internal Communications examples are required for the Gold Award, but copies of all such communications should be provided. b. External Communications. The purpose of External Communications is to enhance the name recognition of the IMA and to present a positive image of the IMA to non-ima members. These external parties can include, but are not limited to, communications with other students and faculty on campus as well as the community at large. Clearly explain and document the frequency and content of all communications with non-ima members. These communications can be in any format. Examples of this include local publications, campus-wide posters, a website, IMA-sponsored booths at school activities, and so forth. A minimum of four (4) External Communications examples are required for the Gold Award, but copies of all such communications should be provided. 7
9 Second Submittal Requirements Overview: IMA Student Chapter Administrative Gold Silver Bronze Outstanding Programs Award (Only) Outstanding Communications Award (Only) a. Student Chapter Profile b. Board Meeting Minutes c. Training of Officers/Leadership Training Seminar d. Scholarship Application Report Student Manuscript CMA Examination e. Student Case or Clark Johnson Achievement Award Planning and Evaluation a. Scorecard /Executive Summary b. Treasurer s Report Programs and Activities a. Educational Meetings b. Plant Tours/Industry Visits c. CMA Awareness Programs d. New Member Orientation e. Community Services Projects Communications a. Internal Communications b. External Communications
10 Appendices 9
11 Please select from one of the following two options: Appendix A IMA Student Chapter Letter of Intent Option 1: The IMA Student Chapter declares its intention to meet the requirements for a Certificate at the (select one): Gold level of achievement in the Award of Excellence program Silver level of achievement in the Award of Excellence program Bronze level of achievement in the Award of Excellence program in the (select one): four/five year division. two year division. The chapter understands that participation in the Award of Excellence program will qualify the chapter to be considered for the Outstanding Student Chapter award, the Outstanding Strategic Plan Award, the Outstanding Programs and Activities award, and the Outstanding Communications award. Option 2: The IMA Student Chapter declares its intention to meet the requirements for the (select one or both): Outstanding Programs and Activities award. Outstanding Communications award. IMA Student Chapter President Name: Member Number: Address (Home or School): Address (Home or School): City: State: Zip Code: Telephone Number (Home or School): Fax Number: Address: IMA Student Chapter Advisor Name: Member Number: Address (Home or School): Address (Home or School): City: State: Zip Code: Telephone Number (Home or School): Fax Number: Address: 10
12 Appendix B IMA Student Chapter Profile Name of College/University: City and State: By our signature below, we acknowledge that we have abided by the instructions and requirements for the program, the Mission Statement of the IMA, and the Vision Statement of the IMA. We also acknowledge that we have read and have abided by the Standards of Ethical Conduct for Management Accountants and Finance Professionals in fulfilling the requirements. Faculty Advisor Name: Title: Business Telephone: Fax: Cell/Home Telephone: Address: Signature: Date: IMASC President Name: Title: Business Telephone: Fax: Cell/Home Telephone: Address: Signature: Date: IMASC President-elect (if known) Name: Title: Business Telephone: Fax: Cell/Home Telephone: Address: Signature: Date: Total Enrollment at the College/University: Number of IMA members in your IMA Student Chapter: Other Accounting/Finance Clubs on your campus: IMA Student Chapter Website URL (if applicable) IMA Student Chapter Facebook name (if applicable) Location of ethical component 11
13 Appendix C Sample Schedule of Budgeted Revenues and Expenses Name of IMASC: For The Year Ending : Revenues Membership Dues Contribution from university, accounting department, and student government Fundraising activities (enumerate) Social activities (enumerate) Other (enumerate) Total Revenues Budget Expenses Dues remitted to IMA (required) Refreshments at meetings Fundraising activities (enumerate) Social activities (enumerate) Printing Supplies Other (enumerate) Total Expenses Net Revenues Over Expenses (Expenses over Revenues) 12
14 Appendix D Sample Schedule of Actual/Budgeted Revenues and Expenses Name of IMASC: For The Period of : Revenues Actual Budget Variance Membership Dues Contribution from university, accounting dept., and student government Fundraising activities (enumerate) Social activities (enumerate) Other (enumerate) Total Revenues $ $ $ $ $ $ $ $ $ $ $ $ Expenses Dues remitted to IMA (required) Refreshments at meetings Fundraising activities (enumerate) Social activities (enumerate) Printing Supplies Other (enumerate) Total Expenses Net Revenues Over Expenses (Expenses over Revenues) PLEASE NOTE: A report of variances for each revenue and/or expense item must be provided explaining any variance of 10% or more. 13
15 Appendix E Educational Programs Form (Complete one form for each educational program or plant tour included in the Award of Excellence or Outstanding Programs and Activities submittal. Other information or photographs can be included on additional pages.) Date of event: This event was a: speaker presentation. corporate tour. other (please identify ). Name of speaker or tour guide: Organizational affiliation of speaker: Topic of presentation: Duration of presentation/tour: Number of IMA student members attending event: Number of non-ima student members attending (for IMASC-sponsored event only): The speaker and topic were primarily arranged by: the school s IMA Student Chapter. the school s accounting club. a school organization not listed above. (Please identify ) a local or parent IMA Chapter. a regional IMA council. IMA s global office. 14
16 Appendix F Other Programs and Activities Form (Complete one form for each program or activity not considered an educational program/plant tour in the Award of Excellence or Outstanding Programs and Activities submittal. Other information or photographs can be included on additional pages.) Date of event: This event was a: CMA awareness program. fundraising activity. social activity. community service project. other (please identify ). Provide a brief description of the event: Duration of activity: Number of IMA student members participating: The event was primarily arranged by: the school s IMA Student Chapter. the school s accounting club. a school organization not listed above. (Please identify ) a local or parent IMA Chapter. a regional IMA council. IMA s global office. 15
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