Lebanon, AlKoura, Nakhleh 1479, Wild Oaks Center +961 81 228 088 mail@headwayhbss.com
Lebanon, AlKoura, Nakhleh 1479, Wild Oaks Center +961 81 228 088 mail@headwayhbss.com
The Institute of Certified Management Accountants (ICMA) is a growing organization with a vision to attain the status of a premier body of professionals practicing the science of management accounting.
The ICMA is over 20-years old and was registered in 1996 under the Associations Incorporations Act 1981 (Vic.) with members entitled under its Rules to use the ‘Certified Management Accountant (CMA)’, ‘post-nominal after their name.
ICMA (Australia) has been offering the educational programs in Lebanon since 2005, and is accredited by the Commonwealth of Nations, the intergovernmental organization of 52 sovereign states.
The CMA post-nominal is a Registered Trade Mark of the ICMA. True “recognition” is, however, only earned in the market.
As a relatively new body (now in its second decade of operations), having just over 10,000 members (with over 2,500 CMAs), it is already well recognized in its niche market, as a specialist qualification for already qualified 'generalist' accountants who which pursue a professional qualification undertaking two advanced subjects at the Masters Degree level.
For more information please email us at: cma@headwayhbss.com
Headway Business & Social Solutions (HBSS) is a Lebanese consultancy firm focusing on capacity building and certifications. HBSS is providing a set of training courses and professional certification processes.
HBSS is also specialised in sustainable development. It offers research, analysis, and implementation services aimed at fostering socio-economic value. Key areas include community empowerment, entrepreneurship promotion, and sustainable development initiatives. With a team of experts and specialists, it seeks to create equitable opportunities and enhance quality of life through impactful solutions.
HEADWAY Business and Social Solutions (ICMA recognised provider institution) is offering ICMA courses in Lebanon since 2005.
HBSS offers individuals in Lebanon an opportunity to earn the CMA designation that is globally recognized. We also provide employers the financial knowledge, problem-solving skills, and professional approach that only CMAs can bring to the job.
The CMA designation represents a broad business competency and mastery of the management-level skills required to add value, drive business performance, and build quality financial practices within organizations.
1.What differentiates a CMA from a CPA?
A Certified Management Accountant is part of the management team, focusing on business strategy and strategic decision-making. A CMA understands the business formula for delivering value to the customer, arriving at strategies for identifying, developing, marketing and evaluating a product or service throughout the entire life cycle. He or she assesses the competitive environment and ascertains whether there is a sustainable competitive advantage. Unlike a CPA, which emphasize financial reporting, auditing, theoretical applications and after-the-fact verification, the CMA looks to the future to provide real-world strategic direction, business management and leadership. A CMA creates value, instead of just measuring it.
2.What are the other professional accounting bodies in Australia?
The Institute of Chartered Accountants of Australia (ICAA) and CPA Australia are the two large accounting bodies in Australia. There are two smaller bodies, the National Institute of Accountants-NIA (operating at the Diploma' Accounting Technician' level) and the Institute of Certified Management Accountants-ICMA (operating at the Masters degree 'Accounting Specialist' level).The education programs of the ICMA mainly consist of a Graduate Conversion Program for non accounting graduates, and a Certification (CMA) program for accountants. As such, whilst the NIA originated as a professional body for those holding Technical College Advanced Diplomas, and the Chartered and CPA qualifications are for undergraduate degree holders, the ICMA is a very specialized body at the post-graduate end of the profession. In fact, most members have masters’ degrees or are already qualified as a CA or CPA, and must have at least 5 years relevant professional experience.
3. If I have a recognized accounting qualification such as CPA, do I still have to become a GMA or AMA first?
No, you may wish to undertake the CMA Program as a student, and upon completion, apply for CMA membership directly if you have over 5 years relevant experience.
4. What do you mean by “recognized” accounting qualification?
A. An undergraduate degree with an accounting specialization (at least 25% of the degree must be accounting and finance subjects) from an “accredited” university, or an MBA degree.
B. A professional accounting qualification from a body granted a Royal Charter or Government Charter. Most “Certified” bodies are also acceptable, however, in some countries, as the word “Certified” is not a restricted term, there are some accounting bodies using “certified” in their title that would be unacceptable to the ICMA
5. Do I have to sit exams to become a CMA?
If you are a qualified accountant, and have over 20 - years relevant experience you will be exempted from having to sit for exams (under ICMA’s 20-year rule); however you still have to attend and follow the CMA course and do the assessments within its running time. Those who have between 10-20 years relevant experience have to write one assignment; those with less than 10 years experience have to write two assignments. They too have to attend and follow the CMA course and do the assessments within it when it runs.
