IMA Achieves Record New RMRs in Fiscal Year 2021


The Institute of Management Accountants released its annual report on Tuesday indicating that it reached a record 46,859 active certified management accountants with 12,926 new certifications obtained in the last fiscal year.

In addition, 29,589 new CMA candidates joined the program during the last fiscal year ending June 30, 2021. report showed that 13% of all CMAs were accredited in the last fiscal year, while 50% were in the last five years. The year ended with the close of the IMA on the 100,000th CMA since the inception of the program.

The CMA has continued to increase the number of active CMAs over the past year to help organizations deal with the COVID-19 pandemic and the dangerous new variants that seem to emerge whenever business seems to return to normal .

“As organizations reconfigure themselves to an ever-evolving new standard, I am confident that the entire IMA community will meet the multitude of challenges with courage, focus and determination,” said the President and CEO of IMA, Jeff Thomson, in a statement. “I am extremely optimistic about the future as I know our members are leading their organizations in the right direction and helping them adapt to the volatile and uncertain global environment we all face. “

President and CEO of the Institute of Management Accountants Jeff Thomson

Courtesy of IMA

The IMA reported a 28.5% year-over-year growth in continuing professional education credits awarded, with a 14.2% increase in the number of unique participants. Webinar attendance increased 13.4%. The organization offers 155 hours of free CPE as a benefit of membership.

IMA memberships were at similar levels before the pandemic at the end of fiscal 2019. Globally, IMA memberships have increased by 71% in the past five years.

The pandemic has resulted in increased demands on accountants, who have had to help organizations adapt to the constraints and shortages of remote technology and the supply chain.

“Many different industries see supply chain issues, and unfortunately to some extent that creates a self-fulfilling prophecy,” said Russ Porter, CFO of IMA recently. Accounting today. “When people worry about supply chain issues, they immediately go into making their own sourcing, creating the bottleneck they anticipated in the future. “

These supply chain shortages occurred during Thanksgiving celebrations last weekend. “Rumor had it that the turkeys were scarce, so everyone went out and bought the turkeys,” Porter said. “The same is true in other sectors and in business-to-business commerce. When we hear about potential shortages of fuel, steel, labor, or raw materials, people scramble to secure their own supply of these things, creating some of the supply chain problems we let’s hear about it.

Accountants can help businesses adapt. “A lot of it is about predictive capabilities,” Porter said. “It’s about understanding how to react and react to supply chain issues. Management accountants and financiers, especially finance executives, are very well placed in their organizations, usually because they have an end-to-end view of their organization’s value chain. They can see how an impact affecting one end of their value chain can impact or be affected by other parts of it. For example, when we see price increases on the supply side, financial executives have the opportunity to see what that translates into in terms of price, return to shareholders or operating profit, and where is -What I want to compromise between one or the other stakeholder and what is the relative value of those. With this ability to see end to end, to keep that systemic perspective, finance is in a great position because we understand the operational side, we understand the client side, and we often understand the shareholder side or the owner side of business, so we know how to balance and better pivot between these three than those who are really limited to any of these silos. “

Despite the pandemic, the IMA was able to offer virtual conferences and meetings during the past fiscal year. Globally and in each of the different regions of the IMA (China, Middle East and India, Europe and South East Asia), virtual events were popular and had a greater reach of participants who could participate from at their home.

In a year in which many organizations and society grappled with issues of racial inequality, the IMA has partnered with accounting organizations nationally and globally to produce research revealing a significant diversity gap in the accounting and finance profession. The IMA said it remains committed to improving the diversity, equity and inclusion gaps and plans to release global DE&I research reports, a solutions report in response to the original research, and form more strategic partnerships.

Additionally, as the accounting profession, investors and stakeholders demand more non-financial information related to climate disclosures, the IMA has broadened its thought leadership on sustainability and formed a Global Task Force on Sustainable Business Management Advocate the interests of the management accountancy profession with governments, regulators and other stakeholders. The IMA has provided guidance on disclosures, metrics and decision-making for professionals in regards to sustainable trade metrics.

The annual report can be downloaded from the The IMA website.

Separately, the IMA also recently released a data visualization report earlier this month, discussing the increasingly important role of dynamic visuals in finance and accounting. The report, written by Ann C. Dzuranin, professor of accounting at Northern Illinois University, describes the different types of data visualizations, how to create effective visualizations, and how to tell a story with data.

“A well-designed data presentation should have a balance between the data, the visuals, and the message you’re trying to convey,” Loreal Jiles, IMA’s vice president of research and thought leadership, said in a statement. “More and more, we rely on management accountants to blend financial and non-financial data, leveraging business acumen, analytical and communication tools, to make recommendations. Data visualization provides a way for accounting and finance professionals to deliver this value.

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