We see opportunities at every stage of your career.

Transcription

1 We see opportunities at every stage of your career. CMA Accreditation Programs offered in the Caribbean Traditional CMA Path for University Graduates The Executive CMA Program for Senior Leaders Prices and program offerings current to August 31,

2 Strategy Management Accounting More than a designation Certified Management Accountants go beyond traditional definitions of accounting. They use a blend of strategy, management and accounting to transcend labels, classifications and career profiles. Because of this unique skill-set CMAs create possibilities in virtually every industry and in most countries around the world. Established in Canada in 1920, CMA has Jeffrey Sealy, MBA, CMA, FCMA Principal Consultant The Business Solutions Network Kingston, Jamaica Member of the board for the CMA Regional Office for Nova Scotia, Bermuda, and the Caribbean over 50,000 members. They provide strategic direction, business management, and leadership for the private, public and not-for-profit sectors with the majority of members in seniormanagement and executive positions. To learn more visit 2 2

3 Ho w Do Yo u Be c o m e a CMA in t h e Ca r i b b e a n? Traditional CMA Path for University Graduates STEP 1: Getting the Prerequisite Business Topics Obtain coverage of the 17 CMA prerequisite topics through one of the following options: Option One: University Accounting Degree Current university students in an accounting program can usually complete the majority of the CMA prerequisite topics as part of their degree and, if necessary, take any outstanding topics through another university and/or distance-learning program. Option Two: CMA Foundational Studies Program Designed for university graduates that are missing some of the CMA prerequisite topics, or those who prefer to receive a comprehensive review of the topics. Option Three: General University Degree A path for university graduates that have independently obtained the CMA prerequisite topics whether through university courses, or individual courses offered through CMA. STEP 2: Proving Your Core Accounting Skills Demonstrate mastery of CMA s technical-accounting requirements via one of the following means: CMA Entrance Examination Successfully pass the CMA Entrance Exam. The pass mark for the exam is 60 per cent. or Advanced Standing Opportunities for advanced standing are available to select professionally designated accountants as well as university graduates of a CMA-accredited path. STEP 3: Integrate Your Strategy, Management, and Accounting Skills CMA Professional Program This dynamic program explores and applies the practices that innovative enterprises adopt to succeed in a competitive global environment. or Combined IMBA-CMA Program This distance-learning program is designed to combine the broad business skills of an international MBA degree with the accounting expertise and professional skills of the CMA designation. The Executive CMA Program for Senior Leaders Designed exclusively for executives and senior leaders charged with shaping the future of their organizations, the Executive CMA Program brings together a distinguished group of colleagues and moderators from diverse industries and backgrounds to explore and apply emerging business practices. The environment is dynamic; the learning intense. The Executive CMA Program is a unique and concentrated program that incorporates all stages of the CMA path from foundational studies through to accreditation. 3

4 Step 1: Getting the Prerequisite Topics Current university students in an accounting program can usually complete the majority of their CMA prerequisite topics as part of their degree and, if necessary, take outstanding topics through another university and/or distance-learning program. To satisfy the requirements of this step you must obtain coverage of the following 17 CMA prerequisite topics: Introductory financial accounting* Introductory management accounting* Economics* Statistics/ quantitative methods* Intermediate financial accounting Advanced financial accounting Intermediate management accounting Advanced management accounting Corporate finance Taxation (Canadian)* Internal control* Strategic management* Operations management* Organizational behaviour/human resources* Marketing* Information technology* Business law (Canadian)** * Each of these courses can be taken individually through CMA. ** This course is a prerequisite beginning with the June 2013 Entrance Exam. Alternatively, CMA offers the CMA Foundational Studies Program designed for university graduates that are missing some of the prerequisite topics, or those who prefer to receive a comprehensive review of the topics. This is the usual first step for the majority of applicants on their path to becoming a CMA. The CMA Foundational Studies Program is a part-time program offered in Barbados, Jamaica, Trinidad, as well as via distance learning, all versions culminate with the awarding of the CMA Certificate in Foundational Studies in Accounting. In Trinidad, this program also leads to the awarding of a Diploma in Accounting from the University of the West Indies. Note that applicants to the CMA Foundational Studies Program must have a completed university degree and the four introductory university topics to be eligible to begin this program. Introductory university topics required before application are as follows: Introductory financial accounting Introductory management accounting Statistics/quantitative methods Economics For more detail, please visit us online at or call us directly to discuss. Program Details, Scheduling, and Fees for Format and location (s) Registration and Costs Notes CMA Foundational Studies Program offered in partnership with UWI in Barbados, Trinidad, and Jamaica) Face-to-Face Learning comprises of full-day lectures taking place on Saturdays. (This version of the program begins annually in September. Distance-Learning Format is offered with lectures by video streaming with online teaching support including weekly tutorials by web conferencing. The four tests must be written in-person. Note that other test centres may be available upon request please call for details. (This version of the program begins every September and January). Direct Path: University graduates who have independently obtained the CMA prerequisite topics, whether through university or additional courses through CMA, can proceed directly to Step 2. Contact CMA for further details. USD $3500 Program fee includes tuition, lesson notes, practice problems, video streaming, and a financialaccounting primer. Register with CMA by July 20, 2012 for program beginning in September Register with CMA by November 23, 2012 for program beginning in January CMA courses referenced above range in price from $250 to $450. They are self-paced and are available year-round. Citizens of Trinidad and Tobago are GATE eligible. 4

5 Step 2: Proving Your Core Accounting Skills Students will demonstrate mastery of CMA s technical accounting requirements by passing the CMA Entrance Exam or by taking advantage of advanced standing based on previous studies. CMA Entrance Examination As the traditional path to the CMA designation, most students are required to challenge the CMA Entrance Exam. The exam is focused on the following core topics: Financial accounting, Management accounting, Corporate finance, Taxation (Canadian), and Internal control. The CMA Entrance Exam is offered twice each year, in June and October. The exam is four hours in duration and consists of 120 multiple-choice questions. The pass mark for the exam is 60 per cent. All exam registrants will be enrolled in the CMA Entrance Examination Preparation Program, a self-paced, online course that includes video-streaming lectures, online instructor support and two marked practice exams. This preparation program, which takes approximately 80 to 120 hours to complete in full will review the major CMA Competency Map topics tested on the exam. The program includes two practice exams that are offered in a simulated exam setting that will provide students with an opportunity to master time management, multiple-choice methodology, and examination writing skills. The program is inclusive of a set of bound study manuals with problems and solutions. Professional Accountants Currently, we offer advanced standing for the following designations: CA (Canada), CGA (Canada), CPA (US), and ACCA (UK). In cases where applicants meet all conditions, they may directly apply for their professional studies, thus bypassing both Step 1 and Step 2. Note also that CMA has mutual-recognition agreements for accountants holding a CMA (UK) or a CPA (AUS) designation. For more detail, please visit us at or call us directly to discuss. Entrance Exam Program Details, Scheduling, and Fees for Location (s) Registration Preparation time Cost and notes Barbados Kingston, Jamaica Port of Spain, Trinidad Other locations may require a fee to be accommodated. To take full advantage of the highly recommended exam prep program, register with CMA by August 6, 2012 for the exam taking place on October 11, Note: Students completing the CMA Foundational Studies Program in August can register for the exam upon receipt of their final marks. For all other registrants, late registrations will be considered on an individual basis. Please register early in order to receive study manuals and other materials well in advance. Students writing the exam immediately following the CMA Foundational Studies Program, or from their university degree in accounting, are recommended to study for approximately 80 to 120 hours leading up to the exam date. Those able to bypass the CMA Foundational Studies Program, but who have not recently studied accounting, should plan for additional study time. USD $550 Practice exams will be held on September 8, 2012 and September 22,

6 St e p 3: In t e g r a t i n g Yo u r St r a t e g y, Management, and Accounting Skills Your CMA professional studies will allow you to build your strategy, management and accounting skills allowing you to explore and apply the practices that innovative enterprises adopt to succeed in a competitive global environment You may choose to complete your CMA professional studies by enrolling in the CMA Professional Program or the Combined IMBA-CMA Program. While similar, these programs have been designed to suit your individual career needs and aspirations while ensuring that the CMA standard is met. Designed for university graduates from all disciplines with an interest in accounting and who aspire to seniormanagement and executive positions in the private, public, and non-for-profit sectors. Through a blend of classroom work, case studies and workplace application your CMA professional studies will enable you to develop six functional competencies and four enabling competencies, which are the foundation of the CMA designation, as follows: Functional Competencies: Strategic management, Risk management and governance, Performance management, Performance measurement, Financial management, and Financial reporting. Enabling Competencies: Problem solving and decision making, Leadership and group dynamics, Professionalism and ethical behaviour, and Communication. Complementary to the integrated format students are required to be simultaneously employed in a full-time role in the territory of management accounting during their CMA professional studies. 6

7 CMA Professional Program The 18-month CMA Professional Program (also known as the CMA Strategic Leadership Program) is the traditional path chosen by candidates aspiring to a CMA designation. At the heart of this program is a series of interactive sessions that allow candidates to exchange views and experiences on program concepts under the guidance of experienced CMA moderators from the workforce. Each of the program modules includes an intense two-day interactive session held on Saturdays and Sundays, taking place approximately every two-months. Candidates also complete a series of individual and group projects applying these concepts to their own organizations. The CMA Professional Program is currently administered in partnership with the Cave Hill School of Business - UWI (Barbados), with classes taking place throughout the Caribbean. or Combined IMBA-CMA Program The combined IMBA-CMA Program, offered jointly by CMA and the Cave Hill School of Business - UWI, is designed to combine the accounting expertise and professional skills of the CMA designation with the broad business skills of the International Masters of Business Administration (IMBA) degree thus creating a combined skill set for an exceptional career path. The combined IMBA-CMA Program is a 34-month, uninterrupted program offered in a blended learning format; with two fully face-to-face modules in Barbados (one at the beginning of the program and one at the end of the core courses) and with the remainder undertaken in an online and distance-learning modality. To be eligible to matriculate into the IMBA-CMA program (as opposed to being on the IMBA path only), students will need to have demonstrated coverage of CMA s foundational studies (see Step 1) and have passed the CMA Entrance Exam (see Step 2). Program Details, Scheduling, and Fees for Format Registration Total Cost Notes CMA Professional Program Barbados (classes take place at the Cave Hill School of Business) Jamaica (classes take place in Kingston; details to be announced soon) Trinidad and Tobago (classes take place at the Arthur Lok Jack Graduate School of Business) Six, two-day modules (taking place on Saturday and Sunday) plus an orientation, a case exam, and the CMA Board Report. Registration is by September 14, 2012 for classes beginning in November USD$3500 per year (for two years) Residents of Trinidad and Tobago are eligible for GATE funding for this program. Fees are paid in two equal installments of USD$3500 and cover the cost of membership fees, materials, the case exam, and the board report (first attempts only). Combined IMBA-CMA Program Blended-learning approach incorporating in-class modules and online modality. Caribbean Registration deadline is in late July 2012 for classes beginning August Register directly with the Cave Hill School of Business at (246) or chsb@uwichill.edu.bb. USD$22,000 Fees can be paid in multiple installments. Please contact CHSB-UWI for more detail. 7

8 A Unique Opportunity for Senior Leaders: The Executive CMA Program Ian R. De Souza, MBA, CMA General Manager, Corporate and Investment Banking Republic Bank Limited Port-of-Spain, Trinidad and Tobago (recent graduate of the ECMA Program) Designed exclusively for executives charged with shaping the future of their organizations, the Executive CMA Program brings together a distinguished group of colleagues and moderators from diverse industries and backgrounds to explore and apply emerging business practices. The environment is dynamic, the learning intense. Module content will focus firstly on building a technical foundation in accounting (financial accounting, corporate finance, and management accounting), and then develop the same six functional and four enabling competencies covered in the CMA Professional Program. Admission to the ECMA program is normally restricted to applicants with a minimum of five years mid-to-senior level work experience in strategic leadership positions. Depending on individual organizations, examples will typically include senior managers, directors, vice-presidents, CFOs, and CEOs. Note that two possibilities exist for bypassing the first three modules of the program: if the applicant holds a doctoral degree in accounting, or, is a fully qualified professional accountant such as an ACCA, CA, CGA, CPA. In either case, applicants are advised to contact CMA for full details. This year, we are excited to be introducing a new modality as well as a June start date offering increased flexibility to ECMA program participants. Phase 1 - Foundation Studies will now be offered in an online-learning format. Senior business leaders from the Caribbean are encouraged to contact our office to discuss this unique opportunity. Local Program Details, Scheduling, and Fees for Location Format Deadline Cost Caribbean Combination of online-learning and in-class modules. Apply by November 30, 2012 for the regular program beginning in January Program duration is over the course of 18 months, but allows for a summer break. Apply by April 30, 2013 for the program beginning in June This expedited intake will complete the program in 12 consecutive months. Those eligible to bypass the first three modules (direct to phase II of the ECMA program) must apply 60 days in advance of the normal application deadline. USD$18,000 Expenses related to travel are not included in the program cost. Fees are paid in two annual installments. Priority is given in order of received applications. 8

9 Phase I Foundation Studies Self-study via online-learning The first phase of the Executive CMA Program is designed to develop the technical skills required for solving complex business cases. Module 1 - Orientation and Financial Accounting Module 2 - Financial Management and Management Accounting Module 3 - Management Accounting and Strategy Foundation Studies Evaluation Phase II Application Interactive classroom sessions The application phase of the program is designed to allow candidates to develop the functional and enabling competencies of the CMA designation. Candidates will build their skills in problem-solving and decision-making through such tools as case-study analysis and presentation. Leadership and group dynamics as well as issues of professionalism and ethical behavior will be ever present in the program as candidates participate in group discussions and work teams to discuss and solve business problems. Module 4 - Strategic Management, Risk Management, and Governance Module 5 - Performance Management and Performance Measurement Module 6 - Financial Management and Financial Reporting Final Evaluation Board Report For some time, I had been looking to pursue a professional accounting designation in order to enhance my knowledge in that area. I reviewed the opportunities in the marketplace and in deciding to pursue the Executive CMA (ECMA) I considered the reputation, acceptability and professional accreditation of the program; synergies with my existing qualifications; time commitment; and engagement in the classroom with persons from different cultures and backgrounds. The ECMA afforded me all of these benefits and thus it was an easy decision. Michelle Rolingson-Pierre, MBA, CMA Chief Operating Officer Trinidad and Tobago Stock Exchange Limited (recent graduate of the ECMA Program) 9

10 MAY 2010 $5.50 Annual Reports Wireless costs Bank of Canada FOR STRATEGIC BUSINESS IDEAS Has planning become too complicated? Taking risks: Essential for change and innovation The big picture Darcy Boyce s CMA training plays an important role in helping him shape government policies Darcy Boyce, BSc (Econ), MBA, CMA, Minister of State, Ministry of Finance, Barbados I wanted accountancy training to go along with my economics and finance studies I felt the CMA would fit with management rather than straight auditing. Darcy Boyce, MBA, CMA, FCMA Minister of State Ministry of Finance, Investments, Telecommunications, and Energy St. Michael, Barbados As quoted in CMA Management Magazine.

11 Next steps... If you are interested in the CMA designation, we invite you to contact our office at any time to introduce yourself, ask questions, and/or request an official transcript evaluation. Note that an official transcript evaluation is the first step in confirming eligibility for the CMA designation path and the required first step in the CMA registration process. All applicants must have completed this step prior to submitting an application. To begin the evaluation process, please complete and submit the CMA Eligibility Review request form available online at Once your CMA Eligibility Review request form and official transcripts have been received we will provide a personalized report detailing eligibility as well as a recommended path including potential options. Note: A reference guide for the full suite of CMA prerequisite topics is available online. While every effort is made to ensure the accuracy of this document, please know that it is for guideline purposes only and is not meant to replace the necessity of having a comprehensive transcript evaluation performed by the CMA offices. For more information on becoming a CMA, please contact us as follows: Shannon Murphy, CMA Programs Advisor Direct line: ext 221 Toll-free (Caribbean): smurphy@cma-caribbean.com 11

12 Future Business Leaders Wanted... For more information on becoming a CMA, please contact: Shannon Murphy, CMA Programs Advisor Direct: ext 221 I Toll-free (Caribbean): smurphy@cma-caribbean.com CMA Regional Office for Nova Scotia, Bermuda, and the Caribbean 1559 Brunswick Street, Suite 300, Halifax, Nova Scotia, Canada, B3J 2G1 CMA reserves the right to revise any information listed in this brochure. Program dates, curriculum, fees, and eligibility requirements are all subject to change without notice. Applicants and students are subject to CMA program policies that are available at Meeting minimum requirements does not guarantee admission. September 2012, CMA