IMA Unveils New Management Accounting Framework; Identifies Critical On-the-Job Competencies
August 10, 2011
IMA®, the global association exclusively for the management accounting profession, unveiled today the initial findings of a research study designed to help define the management accounting curricula of undergraduate and graduate accounting programs. The study reflects the evolution of the management accounting field and strives to bridge the skills gap between the teaching of management accounting and on-the-job practice.The study is being conducted by the IMA-MAS Task Force on Management Accounting Curriculum, a collaborative effort between IMA and the Management Accounting Section of the American Accounting Association (AAA). The findings were released at the AAA Annual Meeting in Denver, Colo. at a panel session titled “Competency Profiles for Management Accounting Practice: Curriculum Implications,” moderated by the task force chair, Raef Lawson, Ph.D., CMA®, CPA, IMA vice president of research and professor-in-residence.
According to Dr. Lawson, IMA wrote its initial guidance on management accounting curricula back in 1986 however, this guidance no longer reflects the progression of the field over the past 25 years. So far, the task force has developed a new management accounting competency framework and identified the knowledge, skills, and abilities necessary for today’s management accounting practitioners. The task force identified three broad areas of on-the-job competencies, foundational, broad management, and management accounting, which includes technical and non-technical skills.
“The outcomes of this project will help better prepare students for careers in management accounting by helping faculty ensure that students possess the cognitive abilities they need to be effective, valued business partners in their organizations,” said Dr. Lawson. “Ultimately, this will enable businesses to improve performance and protect stakeholders.”
The task force is continuing its work and expects to issue an initial draft of its report at the 2012 Management Accounting Section Midyear Meeting, to be held in Houston, Texas, in January. Input from educators is still needed; please visit http://www.surveymonkey.com/s/NBKFFDF