The CMA competencies

For those people who are outside the Canadian accounting profession, it is a good idea to note what strengths and aptitudes that Certified Management Accountants acquired and were expected to attain. This is especially noteworthy, now that the three professional accounting bodies have merged to form the Chartered Professional Accountants.

There are six functional competencies and four enabling competencies in that regard:

Functional competencies

• Strategic management

• Risk management and governance

• Performance management

• Performance measurement

• Financial management

• Financial reporting

Enabling competencies

• Problem solving and decision making

• Leadership and group dynamics

• Professionalism and ethical behaviour

• Communication

As to where CMAs are expected to be over the course of their career, the following is taken from the CMA Competency Map:

Neither the current CPA Competency Map nor its Knowledge Supplement provided by Chartered Professional Accountants of Canada go into such detail as to expected outcomes, but the above has proved to be realistic as to how one is able to progress in the area of management accounting.