As the role of professional accountants evolves, so do the competencies they need to successfully pursue their careers. All accountants, including entry-level ones, need to develop deeper skillsets, encompassing an expanded set of competencies.
IMA chartered its Management Accounting Competency Task Force with the goal of developing a comprehensive list of management accounting competencies and related learning outcome statements that faculty can use to design curricula that cover the management accounting competencies essential for all entry-level accountants.
To ensure the relevance of management accounting education, when developing its list of competencies, the Task Force was forward-looking, focusing on the competencies entry-level accountants will need to succeed in the future, and not just the ones commonly included in accounting education today.
The Task Force’s final report details the management accounting competencies that all entry-level accounting professionals should possess regardless of whether they initially pursue a position in industry, public accounting, or elsewhere. It also contains suggestions for management accounting course topics that align with these essential competencies.