IMA (Institute of Management Accountants) announced last April 12 a new specialty credential designed specifically for professionals holding the CMA (Certified Management Accountant) certification. The CSCATM (Certified in Strategy and Competitive Analysis) complements and expands upon the strategic planning, competitive analysis, and decision-making skills developed through the CMA.
Building upon the CMA certification, the CSCA exam will consist of 60 multiple choice questions and one case study, and will center around the four facets of strategic management. The case study will require candidates to complete a strategic analysis of a scenario, evaluate the strategic options, formulate a strategy, and recommend an approach to implementing and evaluating the strategy.
The CSCA exam will be offered to CMAs twice annually, in March and September. Registration opens in May 2017, and the first exam will be administered this September. Also in May, IMA will introduce the IMA Strategy and Competitive Analysis Learning SeriesTM, a NASBA-approved self-study course that offers continuing professional education credits.
According to research by IMA and other organizations, CFOs and their teams are increasingly called upon to apply their analytical and business skills to more strategically oriented organizational issues. They are being challenged to combine skills in strategy, operations, technology, and leadership, as well as accounting and finance, to enhance their ability to create value for their organizations. Earning the CSCA will help management accounting professionals meet this market need, master the skills required to drive the strategic planning process, and gain a competitive edge in the workplace.
“The CSCA is ideal for management accountants who not only want to enhance their careers, but also sustain their professional development,” said Dennis Whitney, CMA, CAE, senior vice president of certifications, exams, and content integration for the Institute of Certified Management Accountants (ICMA). “It provides CMAs with the opportunity to reinforce the skills they gained from the CMA, and position themselves to lead the strategic management process.” — SG
