Chuck Phillips is not what you'd consider your typical CMA® candidate. A 25-year veteran of a public utility company in Michigan, Mr. Phillips has spent the last six years as manager of financial reporting at Ford Field, home of the Detroit Lions. At this juncture in his career, it might seem unnecessary to take an exam like the CMA. But Mr. Phillips believes just the opposite: “Most companies look for people who have some kind of designation. If you want to move higher up the ladder, it's necessary to have something like that.”
Mr. Phillips has completed three of four parts of his CMA exam and is currently preparing to take Part 4. Passing the exam certainly didn't come easily to him. He admits that he tried three times in the past to pass the exam, without success. He attributes his difficultly to the fact that he studied for the exam on his own – using self-study materials and squeezing prep time in between demanding work and family responsibilities.
The difference this time, however, was the CMA Learning System : “It was only when I began using the IMA® -developed study materials that I met with success and was able to pass Parts 1, 2, and 3. That course was very helpful to me in terms of giving me a good grounding for what was on the exam,” he says.
Although he's only now preparing to become a CMA, Mr. Phillips has been an active, long-time IMA member. He joined the organization right after completing his undergraduate studies (part-time) in 1990. A professor of his in college, who was the IMA Detroit chapter president, took the entire class to a chapter meeting. “Everyone was pretty much encouraged to join,” he says. Ever since then, he's served on the chapter's board of directors, and from 1997 to 2003, also as chapter president.
That lengthy IMA and professional experience has given Mr. Phillips a good perspective on what's necessary to succeed in the accounting field. “When the economy is good, it's much easier to find employment when you're fresh out of college,” he says. “But with the economy the way it is, the more you can show an employer, the better position you'll be in. That holds true for everyone, I think: both the newly employed and industry veterans like me. That's why I think it's very important to get a CMA.”
Despite his success, Mr. Phillips doesn't recommend the same path he took to get to the CMA for everyone. “My advice to students is: take the exam right before you finish school or right after you get out. You're still in the habit of studying and the information is still fresh. Once you're married and have kids, it's much more difficult to find the time.”
Given his excellent preparation this time around, it appears that Mr. Phillips will become a CMA quite soon.
For further information about the CMA Learning System, please visit the IMA website at http://www.imanet.org/development_cma_ls.asp.
