IMA’s Management Accounting Competency Framework
This SMA identifies the core skills needed to succeed in management accounting.
This SMA identifies the core skills that management accountants need to succeed in today’s business environment and is based on job analyses conducted by the Institute of Certified Management Accountants (ICMA®) and validated by subject matter experts. Providing the foundation for IMA’s CareerDriver® Assessment Tool, this Framework covers competencies needed in five skill areas needed by today’s management accountant: planning and reporting, decision making, technology, operations, and leadership. It is a valuable tool that helps management accountants advance their careers and helps employers manage talent, make hiring and salary decisions, and build a skilled workforce—all of which can help organizations create sustained business growth.
- To keep up with new technologies replacing many of the accounting skills traditionally in demand, management accountants need to hone their skills in a variety of areas.
- CFOs, controllers, and their staffs are expected to be conversant in new technologies, data management, strategy, and operations of the business.
- Each skill area comprises specific knowledge and skills, which are organized by increasing levels from “limited knowledge” up to “expert.”
- Management accountants can use this framework as a guide to keep their skill sets relevant for today’s business environment as well as a tool for employers looking to enhance the capabilities of their finance and accounting teams.