Whatever The CGMA Exam Will Be Testing Is A Lot More Interesting Than The CPA Exam

The first exam for the Chartered Global Management Accountant designation will be held in May 2015.  While management accounting and public accounting are defined as two different disciplines, I think many accountants in public practice will benefit  if only they have a better understanding in the management accounting practice of their clients.  Based on my 10+ years of public accounting experience, a lot of the audit deficiencies are caused by the lack of their CPA's understanding of their clients's management accounting system and accounting estimates. One aspect I hate about being the auditor is the fact that the clients often don't see value in the public accounting firms they engage to do their audits because they only see them as the necessary evil to get that rubber stamping on their financials.

Bottom Line Advice Of The Day

"The strongest improvements in market performance come from businesses that go beyond lip service and actually treat their workforce as a strategic asset rather than a cost to be minimized." -  The Custom-Fit Workplace, pg 24.