EXECUTIVE SUMMARY – THE CALL TO ACTION FOR CFOs
“There is little doubt that the current content of professional accounting education, which has remained substantially the same over the past 50 years, is generally inadequate for the future Accounting professional. A growing gap exists between what accountants do and what accounting educators teach …. Accountants who remain narrowly educated will find it more difficult to compete in an expanding profession …”.

Can you guess the year of this quote? The year was 1986 (Bedford Report), and fast forwarding 20+ years, has much changed in closing this gap? Many, including the IMA, believe that a significant gap still exists between what is taught in typical undergraduate accounting curricula, and what the CFO team needs to meet its challenges and expectations. Various studies of CFOs around the world strongly suggest that the CFO team must move beyond transaction processing, cost accounting, compliance cop and counter of wealth to strategic business partner, performance management, enterprise risk management, and creator of wealth.

IMA has developed a stream of primary research since 1994 to help close this gap by understanding the roles/activities performed by management accountants and how to evolve to a “full service” business partner. Click here to view IMA’s Research Studies.