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ACMA – Associate of the Chartered Institute of Management Accountants (UK)
The Chartered Institute of Management Accountants (CIMA) is a professional body for management accountants which provides them with qualification and training in the field of management accounting. This body is based in the UK and focuses only on business accounting.
A Little More on the Chartered Institute of Management Accountants
Management accounting provides vital information that is used in the decision-making process; hence it has become essential. It is utilized in companies of all sizes since it generates data managed by its owners to attain its goal and therefore it plays a significant role in the success of these companies. The primary factor for any business is income and management accounting helps managers make the decision of what to sell and how to sell it
Nowadays, companies are looking to hire qualified CPAs because of the increasing importance of management accounting in the corporate sector. This has led to the introduction of the certification in management accounting. CIMA and ACMA are the most popular certificates, and they are only for experts in management accounting. However, there are some differences in these certificates as explained below.
The difference between CIMA and ACMA
CIMA is a specialized administrative accounting group that provides education and training on management accounting. This group is based in the UK and engages in corporate accounting. Experts from CIMA frequently make strategic management decisions based on their training and corporate knowledge as well as developing corporate strategies. They have been improving their skills over the years to meet the increasing demands of corporate sector management decisions.
ACMA is a certificate that is provided by various accounting bodies such as India’s Cost Accounting Association (ICAI) and Pakistan’s Cost Accountancy Association (ICMAP). Both of these bodies are members of the International Accountants Federation (IFAC). They nurture and train the administrative accountants at a domestic and international level.
ACMA is also called the cost accounting management partner, and its experts serve in a wide variety of business fields since they are considered the foundations of the organizations. This is because they collect and analyze data, implement effective management mechanisms and also participate in the planning and design process.
References for Associate of the Institute of Chartered Management Accountants
Academic Research on Associate of the Institute of Chartered Management Accountants
- Factors affecting internet banking adoption among internal and external customers: a case of Pakistan, Raza, S. A., & Hanif, N. (2013). International Journal of Electronic Finance, 7(1), 82-96. By using internal and external customers on a sample size of 210 for the internal and 151 for external respondents, this study uses the survey research instrument questionnaire to investigate the determinants which attract and encourage customers to adopt internet banking in Pakistan.
- Strategic management and Firm Performance: A study of selected manufacturing companies in Nigeria, Monday, J. U., Akinola, G. O., Ologbenla, P., & Aladeraji, O. K. (2015). European Journal of Business and Management, 7(2), 161-171. This paper presents a study conducted to investigate how strategic management relates to a firm’s performance. The primary purpose of the study was providing irrefutable evidence on how strategic management affects the performance of manufacturing industries in Nigeria.
- Education and training considerations applicable to internal auditors in South Africa, Steyn, B., & Plant, K. (2009). African Journal of Business Management, 3(13), 989-997. In this paper, by exploring the different considerations in terms of training and education requirements that are applicable South African internal auditors, this study attempts to compare how these requirements are similar to those applicable in other professional and accounting bodies in the country.
- Societal role expectations of management accounting professionals: An Australian study, Ratnatunga, J., Tse, M. S., & Wahyuni, D. (2015). (pp. 29-48). Emerald Group Publishing Limited. This is a study conducted to find out the necessary skills that management accounting professionals are expected to have.
- Crisis in Management Accounting Curricula: the unclear role of information systems and information technology, Spraakman, G. (2011). This article evaluates the presence of information systems and information technology in the management of accounting curricula.
- Commodity Derivative Transaction Comparability: Evidence from South Africa, Middelberg, S. L., & Buys, P. W. (2012). Journal of Applied Business Research, 28(3), 441. This paper argues that for financial statements to be comparable in an industry, how the accounting treatment of transactions is reflected in the financial statements should be similar across all organizations in the same industry.
- Exploring the sources and role of knowledge sharing to overcome the challenges of organizational change implementation, Aslam, U., Muqadas, F., & Imran, M. K. (2018). International Journal of Organizational Analysis, 26(3), 567-581. This article suggests how knowledge sharing can effectively overcome challenges faced during the implementation or organizational change since it is usually opposed due to poor communication and therefore little employee participation in decision making.
- The association between firm-specific characteristics and financial information disclosure levels: A study of rural banks in the Ashanti region of Ghana, Agyei-Mensah, B. K. (2011). This study presents an investigation of how firm-specific characteristics influence the voluntary disclosure level of the rural banks in Ghana’s Ashanti region and if the profitability represented by Return on Capital Employed (ROCE) positively relates to the disclosure level.
- Consulting role of internal auditors: exploratory evidence from Malaysia, Shahimi, S., Mahzan, N. D., & Zulkifli, N. (2016). Journal of Business and Management, 5(2), 22-40. By providing an overview of the consulting activities in the business context, this paper discusses the additional value that businesses gain from internal auditors through their consulting role.
- A CMA on both sides of the Atlantic, Jayson, S. (1993). Strategic Finance, 74(10), 29. This paper aims at examining the differences and similarities of management accounting in Europe and North America.
- Financial Liberalization: A Fourth Generation Thought, Patabendige, S., & Senarath, C. (2015). This is a study on identifying and explaining the various reasons why the expected objectives to be achieved through financial liberation were not met.