Management accounting is a profession encompassing finance and accounting professionals working inside organizations. Their role involves partnering in management decision making, devising planning and performance management systems, and providing expertise in financial reporting and control to formulate and implement an organization’s strategy.
Technology is redefining the role of the management accountant while also significantly changing the business landscape and the management accounting profession at an unprecedented speed. To keep pace with the changing business environment and advances in technology, IMA has analyzed the emerging competencies needed by management accountants and has updated the IMA Management Accounting Competency Framework.
This enhanced Framework identifies six domains of core knowledge, skills, and abilities that finance and accounting professionals need to remain relevant in the Digital Age and perform their current and future roles effectively. The Framework and associated materials are offered as guidance for skills assessment, career development, and talent management within the profession.View the Framework
In this paper, Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, IMA vice president of research & policy and professor-in-residence, explores how the management accountant’s skill set will need to evolve and how you can prepare for the future.
This report, drafted in partnership with ACCA (Association of Chartered Certified Accountants), makes predictions, and hopes to stimulate discussion, about a broad range of emerging and converging technologies and their potential to influence the accountancy profession.