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The pace at which new technologies and innovations become mainstream continues to accelerate, shortening business life cycles and making old skills redundant. Digital technologies have also generated unprecedented volumes of data. New cognitive technologies will cause further disruption.
Management accountants need to understand the potential of new technologies to transform their business model and realise how the finance function can use these technologies to automate many tasks. This will enable them to contribute more to ensure both their success and their businesses’ success in a digital age.
Management accountants will have a key role in considering the effects of new technology on people as well as profit, and that their approach to lifelong learning and continuing professional development is consistent with the growth mindset.
Through the combined strength of AICPA and CIMA, we are in a strong position to help members prepare for the digital age, providing opportunities through CPD to learn more about digital technologies.
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Accountant® (CGMA®)CGMA is the most widely held management accounting designation in the world. It distinguishes more than 150,000 accounting and finance professionals who have advanced proficiency in finance, operations, strategy and management. In the United States, the vast majority also are CPAs. The CGMA designation is underpinned by extensive global research to maintain the highest relevance with employers and develop competencies most in demand. CGMA designation holders qualify through rigorous education, exam and experience requirements. They must commit to lifelong education and adhere to a stringent code of ethical conduct. Businesses, governments and not-for-profits around the world trust CGMA designation holders to guide critical decisions that drive strong performance.
cgma.org
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.
aicpa-cima.com
Report author:
Peter Simons, BBS, MBA, FCMA, CGMA Associate Technical Director of Research — Management Accounting Head of Future of Finance Research Association of International Certified Professional Accountants aicpa.org aicpa-cima.com cgma.org cimaglobal.com
September 2019 © 2019 Association of International Certified Professional Accountants. All rights reserved. CGMA and Chartered Global Management Accountant are trademarks of the Association of International Certified Professional Accountants and are registered in the United States and other countries. The Globe Design is a trademark owned by the Association of International Certified Professional Accountants. 1907-84353
For information about obtaining permission to use this material other than for personal use, please email mary.walter@aicpa-cima.com.
All other rights are hereby expressly reserved. The information provided in this publication is general and may not apply in a specific situation. Legal advice should always be sought before taking any legal action based on the information provided. Although the information provided is believed to be correct as of the publication date, be advised that this is a developing area. The Association, AICPA, and CIMA cannot accept responsibility for the consequences of its use for other purposes or other contexts. The information and any opinions expressed in this material do not represent official pronouncements of or on behalf of the AICPA, CIMA, or the Association of International Certified Professional Accountants. This material is offered with the understanding that it does not constitute legal, accounting, or other professional services or advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The information contained herein is provided to assist the reader in developing a general understanding of the topics discussed but no attempt has been made to cover the subjects or issues exhaustively. While every attempt to verify the timeliness and accuracy of the information herein as of the date of issuance has been made, no guarantee is or can be given regarding the applicability of the information found within to any given set of facts and circumstances. ISBN:978-1-85971-881-0
