The CMA: Past, Present and Future

In the 1980s, financial executive perception of the Certified Management Accounting (CMA) examination appears to have deteriorated in terms of internal advancement and external mobility. Several respondents in a 1989 study indicated that the CMA program was suffering from a lack of prestige. One reason for the lack of recognition is that financial executives stress performance in general as opposed to certification in terms of career progression. The CMA will continue to be at a disadvantage compared to the CPA designation since the CMA is not required to practice management accounting. Only 14% of the respondents felt that senior financial executives should be awarded CMAs based on position and experience as opposed to being required to pass an examination. In order to increase the recognition of the CMA, industrial firms must increase their participation in the campus environment and the Institute of Certified