IMA Management Accounting Competency Framework PDF

IMA MANAGEMENT ACCOUNTING
COMPETENCY FRAMEWORK
TABLE OF CONTENTS
Title Page Title Page

Introduction.................................................................................. 3 Technology & Analytics................................................................. 25
Competencies by Domain............................................................ 4 Information Systems.......................................................... 26
Competencies Mapped to the 2020 CMA Exam......................... 6 Data Governance............................................................... 27
Select Learning Resources by Domain......................................... 7 Data Analytics.................................................................... 28
Strategy, Planning & Performance............................................. 8 Data Visualization.............................................................. 29
Strategic and Tactical Planning........................................ 9 Business Acumen & Operations................................................... 30
Decision Analysis............................................................. 10 Industry-Specific Knowledge............................................. 31
Strategic Cost Management............................................ 11 Operational Knowledge.................................................... 32
Capital Investment Decisions........................................... 12 Quality Management and Continuous Improvement........ 33
Enterprise Risk Management........................................... 13 Project Management......................................................... 34
Budgeting and Forecasting............................................. 14 Leadership..................................................................................... 35
Corporate Finance........................................................... 15 Communication Skills........................................................ 36
Performance Management.............................................. 16 Motivating and Inspiring Others....................................... 37
Reporting & Control.................................................................... 17 Collaboration, Teamwork, and Relationship Management.... 38
Internal Control................................................................ 18 Change Management........................................................ 39
Financial Recordkeeping.................................................. 19 Conflict Management........................................................ 40
Cost Accounting.............................................................. 20 Negotiation........................................................................ 41
Financial Statement Preparation...................................... 21 Talent Management........................................................... 42
Financial Statement Analysis........................................... 22 Professional Ethics & Values......................................................... 43
Tax Compliance and Planning......................................... 23 Professional Ethical Behavior............................................. 44
Integrated Reporting....................................................... 24 Recognizing and Resolving Unethical Behavior................. 45
Legal and Regulatory Requirements.................................. 46
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK 2
IMA MANAGEMENT
IMA MANAGEMENT ACCOUNTING COMPETENCY ACCOUNTING
FRAMEWORK
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.
STRATEGY, PLANNING REPORTING
& PERFORMANCE & CONTROL
Technology is redefining the role of the management
accountant while also significantly changing the business VISIONARY STEWARD
landscape and the management accounting profession at

an unprecedented speed. To keep pace with the changing
business environment and advances in technology, IMA has LEADERSHIP
analyzed the emerging competencies needed by management CHAMPION
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 TECHNOLOGY BUSINESS ACUMEN
& ANALYTICS & OPERATIONS
professionals need to remain relevant in the Digital Age
CATALYST PARTNER
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.
PROFESSIONAL ETHICS & VALUES

GUIDE
COMPETENCIES BY DOMAIN
DOMAIN COMPETENCIES
• Strategic and Tactical Planning
• Decision Analysis
The competencies required to envision the • Strategic Cost Management
future, lead the strategic planning process, • Capital Investment Decisions
STRATEGY, guide decisions, manage risk, and monitor
PLANNING & • Enterprise Risk Management
PERFORMANCE performance.
• Budgeting and Forecasting
• Corporate Finance
• Performance Management
• Internal Control
• Financial Recordkeeping
The competencies required to measure • Cost Accounting
and report an organization’s performance • Financial Statement Preparation
REPORTING in compliance with relevant standards and
• Financial Statement Analysis
& CONTROL regulations.
• Tax Compliance and Planning
• Integrated Reporting
• Information Systems
The competencies required to manage • Data Governance
technology and analyze data to enhance • Data Analytics
TECHNOLOGY organizational success. • Data Visualization
& ANALYTICS
COMPETENCIES BY DOMAIN
DOMAIN COMPETENCIES
• Industry-Specific Knowledge
The competencies required to contribute
• Operational Knowledge
as a cross-functional business partner to
BUSINESS • Quality Management and Continuous Improvement
ACUMEN & transform company-wide operations.
OPERATIONS • Project Management
• Communication Skills
• Motivating and Inspiring Others
The competencies required to collaborate • Collaboration, Teamwork, and Relationship Management
with others and inspire teams to achieve
• Change Management
LEADERSHIP organizational goals.
• Conflict Management
• Negotiation
• Talent Management
The competencies required to demonstrate • Professional Ethical Behavior

the professional values, ethical behavior, and • Recognizing and Resolving Unethical Behavior
PROFESSIONAL
ETHICS & VALUES legal compliance essential to a sustainable
• Legal and Regulatory Requirements
business model.
COMPETENCIES MAPPED TO THE 2020 CMA EXAM
This chart illustrates how the CMA exam aligns with the broader body of knowledge specified in IMA’s Competency Framework for finance
and accounting professionals.
Domain Competencies 2020 CMA Domain Competencies 2020 CMA

Exam* Exam*
• Strategic and Tactical Planning......................... Part 1

• Decision Analysis.............................................. Part 2 • Industry-Specific Knowledge............................ N/A
Strategy, • Strategic Cost Management............................. Part 1 Business • Operational Knowledge................................... N/A
Planning & • Capital Investment Decisions........................... Part 2 Acumen & • Quality Management and Continuous
Performance • Enterprise Risk Management............................ Part 2 Operations Improvement.................................................... Part 1
• Budgeting and Forecasting.............................. Part 1 • Project Management........................................ N/A
• Corporate Finance............................................ Part 2
• Performance Management............................... Part 1
• Internal Control................................................. Part 1 • Communication Skills......................................... N/A

• Financial Recordkeeping.................................. Part 1 • Motivating and Inspiring Others......................... N/A
• Cost Accounting............................................... Part 1 • Collaboration, Teamwork, and Relationship
Reporting
• Financial Statement Preparation....................... Part 1 Leadership Management...................................................... N/A
& Control
• Financial Statement Analysis............................ Part 2 • Change Management......................................... N/A
• Tax Compliance and Planning.......................... N/A • Conflict Management......................................... N/A
• Integrated Reporting........................................ Part 1 • Negotiation......................................................... N/A
• Talent Management............................................ N/A
• Information Systems......................................... Part 1 • Professional Ethical Behavior............................ Part 2

Technology • Data Governance............................................. Part 1 Professional • Recognizing and Resolving Unethical
& Analytics • Data Analytics................................................... Part 1 Ethics & Values Behavior............................................................ Part 2
• Data Visualization............................................. Part 1 • Legal and Regulatory Requirements................ N/A
* CMA Part 1: Financial Planning, Performance, and Analytics | CMA Part 2: Strategic Financial Management
SELECT LEARNING RESOURCES BY DOMAIN
IMA Strategy and Competitive Statements on Management

Analysis Learning Series® (Online Accounting (SMAs)
Courses) IMA Educational Case Journal (IECJ®)
(Online Courses) Management Accounting Quarterly
STRATEGY, BUSINESS (MAQ)
PLANNING & Strategic Management Webinar Series
ACUMEN & Strategic Finance Articles
PERFORMANCE OPERATIONS
(Online Courses and Live Workshops) IMA Live! (Online Subscription Package)
IMA Thought Leadership (Research)
The Master Guide to Controllers’ Best

IMA’s Leadership Academy (Webinars
Practices (Book)
and Live Workshops)
Strategic Finance Leadership Column
Program (Online Courses and Live
and Articles
Workshops)
IMA CPEdge™ (Online Subscription
IMA Knowledge Exchange-
REPORTING Package)
Advantage Combo (Online Subscription LEADERSHIP
& CONTROL Package) Statements on Management
Accounting (SMAs)
Statements on Management
Accounting (SMAs) Management Accounting Quarterly
(MAQ)
IMA Thought Leadership (Research)
IMA Statement of Ethical Professional

IMA Thought Leadership (Research) Practice
Strategic Finance Technology Articles IMA Educational Case Journal (IECJ®)
IMA Excel Series (Online Courses) IMA Ethics Series (Online Courses and
PROFESSIONAL Live Workshops)
TECHNOLOGY Inside Talk: Tech-Talk Webinar Series
ETHICS & VALUES Statements on Management
& ANALYTICS IMA Educational Case Journal (IECJ®)
Accounting (SMAs)
Strategic Finance Ethics Column
To see a complete listing of 1,000+ learning resources, including thought leadership research, articles, webinars, online courses, and
on-the-job activities, visit CareerDriver® at www.imanet.org/CareerDriver.
The competencies required to envision the future, lead the strategic planning process,
guide decisions, manage risk, and monitor performance.
STRATEGIC AND TACTICAL PLANNING VISIONARY
Assess key business factors, and drive value through strategy and operating plan development and execution
LIMITED BASIC APPLIED

SKILLED EXPERT
KNOWLEDGE KNOWLEDGE KNOWLEDGE
Limited knowledge, skills, Demonstrate an Implement annual and/or Assess strengths, weaknesses, Leverage strategic planning
and/or experience with understanding of how short-term departmental goals opportunities, and threats experience in multiple business
strategic and tactical individual goals support linked to strategy (SWOT) facing the environments to identify the key
planning organizational strategy organization (e.g., PESTEL drivers of sustainable competitive
(political, economic, social, advantage in a specific situation
Explain how tactical plans link technological, environmental, Develop strategy governance
Perform analyses that support to organization-wide strategy legal) analysis) processes and measures for
the strategic planning process innovation effectiveness
Identify strategic issues
and drivers of competitive Define the organization’s sustainable
Identify critical success advantage by employing value-creation model, and drive
Recognize the value and factors (CSFs) and related industry analysis techniques, innovation
importance of thinking long key performance indicators such as Porter’s Five Forces Synthesize complementary and
term for the organization (KPIs) necessary for successful and scenario planning competing factors in a complex
strategy implementation environment to determine trade-offs
Introduce innovative programs
and processes that enhance (e.g., resources, capital, technology,
Demonstrate an capabilities) when formulating the
organizational corporate
understanding of the Communicate organizational optimal strategy for the organization
social responsibility (CSR) and
importance of pursuing strategy effectively
environmental objectives Drive CSR strategies and
strategies aligned with
organizational mission, Utilize business intelligence environmental sustainability
vision, and core values Consider limited resources resources to identify strategic strategies that advance the
and necessary trade-offs when opportunities organization’s competitive
recommending business advantage
Oversee the implementation
decisions of strategic initiatives, Use various data sources to
including allocation of identify leading indicators, predict
resources, while balancing competitors’ initiatives, and drive
long-term strategy and short- contingency plans
term objectives Communicate the vision, strategy,
Communicate perceived and execution plan effectively,
strategy/organizational gaps internally and externally, to gain
and alignment issues support and compliance
Evaluate the impact of Recommend new methods

strategic decisions on the and approaches (e.g., scenario
value chain planning, war gaming) for strategy
development
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK STRATEGY, PLANNING & PERFORMANCE 9
DECISION ANALYSIS VISIONARY
Evaluate decision alternatives using analytical techniques, and make recommendations

SKILLED EXPERT
Limited knowledge of decision Demonstrate an understanding Perform cost-volume-profit Evaluate nonroutine projects Lead complex decisions
analysis of the basic types and purpose (breakeven) analysis to (e.g., special orders, involving high risk,
of decision-support tools (e.g., support product decisions outsourcing, business ambiguity, and significant
breakeven analysis, net segments) strategic consequences
present value)
Evaluate data for decisions
such as make or buy, lease Identify the most important Develop a framework for
Demonstrate research skills or own, and sell or process criteria for selecting the best decision making (e.g., identify
further alternative to support an specific decision-support
organization’s strategic goals methods to use in given
situations)
Perform scenario analysis
Evaluate potential profitability
using external and internal Employ innovative
Demonstrate critical thinking data sets methodologies when
skills, including objective approaching complex
analysis, synthesis, and decisions (e.g., Monte Carlo
evaluation, to form Evaluate and incorporate simulation, real options)
evidence-based decisions environmental (e.g., political,
regulatory, market) and social
factors when making strategic Implement revenue and cost
decisions models that reflect causal
operational relationships
to provide nonfinancial
managers financial decision
support information
STRATEGIC COST MANAGEMENT VISIONARY
Identify cost drivers, and perform cost modeling to enhance organizational decision making

SKILLED EXPERT
Limited exposure to strategic Demonstrate an understanding Use capacity planning, Implement managerial costing Implement sophisticated cost
cost management concepts of basic cost concepts utilization, and costing tools models and processes to management techniques (e.g.,
and techniques improve decision support activity-based costing, Theory
beyond basic cost accounting of Constraints, resource
Use inventory control tools Analyze costs across the consumption accounting)
within parameters to optimize value chain to support cost- Recommend the appropriate
stocking levels effective global sourcing costing approach to use in a
decisions given business situation Leverage managerial costing
knowledge, models, and
Trace costs to analyze and Analyze and make analytics to recommend cost
improve customer profitability recommendations regarding reduction strategies/tactics as
optimal capacity utilization part of a long-term strategy
Analyze the profitability of to support the business plan,
products and services by addressing idle and excess
tracing costs throughout the capacity Deploy causal, decision-
value chain oriented managerial costing
Utilize causal activity and models and strategic cost
Incorporate life-cycle costs resource management management throughout the
in product and service techniques, lean and organization’s value chain
profitability projections agile principles, and other
value chain improvement
Calculate costs using various methodologies to optimize Reconcile managerial cost
costing methodologies (e.g., operations calculations for decision
standard, activity-based, support with cost accounting
throughput costing) Determine optimal sourcing calculations for external
based on comprehensive financial reporting, and explain
Conduct basic product and operational and cost analysis the differences
service costing including of the value chain
incremental analyses for
special orders
CAPITAL INVESTMENT DECISIONS VISIONARY
Analyze long-term investment alternatives using quantitative and qualitative techniques, and make recommendations

SKILLED EXPERT
Limited exposure to capital Identify basic investment Evaluate capital investment Evaluate alternative scenarios Recommend potential new
investment decisions decision terms and techniques projects using common using sensitivity analysis business ventures (e.g., new
and their use in decision quantitative techniques (e.g., products, new services, new
support (e.g., net present net present value, internal rate markets) based on quantitative
value, internal rate of return) of return) Analyze quantitative and and qualitative factors
qualitative data for merger,
acquisition, and divestiture
Identify nonquantitative opportunities Conduct mergers and
factors (e.g., social, safety, acquisitions (M&A) analysis for
moral, aesthetic) that affect complex transactions, and make
investment decisions Develop cost-of-capital hurdle recommendations to senior
rate/weighted average cost of management and the board
capital
Evaluate relevant cash
flows for capital budgeting
decisions, and estimate future Identify and calculate future
return on capital opportunities and choices (real
options)
Prepare capital expenditure

plans, and determine funding
requirements
ENTERPRISE RISK MANAGEMENT VISIONARY
Identify, assess, and manage risks within an organization

SKILLED EXPERT
Limited knowledge of Demonstrate an understanding Identify types of risk within an Implement appropriate risk Develop and recommend
enterprise risk management of the need for organizational organization (e.g., financial, management systems based strategic risk mitigation and
risk management and its competitive, reputational) on a widely recognized risk response strategies (e.g.,
relationship to internal controls framework (e.g., Committee to address competitive risk,
of Sponsoring Organizations technology risk)
Analyze operational risk (e.g., of the Treadway Commission
internal processes, people, (COSO))
and systems or external factors Implement enterprise risk
such as legal, fraud, security), Recommend financial risk management with overall
and implement mitigation management strategies organizational strategic plans
strategies (e.g., portfolio diversification and governance
and hedging, options, other
derivatives)
Analyze financial risk (e.g., Lead the development of
interest rate, credit, foreign Perform an environmental responses to high-impact and
exchange, capital structure), scan using tools such as PEST high-probability scenarios
and implement mitigation (political, economic, societal,
strategies technology) analysis
Analyze environmental,
Evaluate risk concerning the social, and governance risks,
Manage contractual competitive landscape and implement mitigation
relationships, policies, and strategies
coverage for insurable risks Prepare risk communications
required by regulatory
agencies
Assist operational managers
with identifying and quantifying Analyze strategic risk,
risks and opportunities including competition and
reputation/brand
Develop and report metrics

that provide leading/early
indicators of emerging risks
BUDGETING AND FORECASTING VISIONARY
Project financial and operational resources necessary to develop a financial plan aligned with the organization’s strategic goals

SKILLED EXPERT
Limited exposure to Demonstrate an understanding Identify and analyze the Forecast in an environment of Perform long-term analysis in
budgeting and forecasting of the basics of the forecasting relationship between uncertainty using sensitivity periods of uncertainty using
and budgeting process, different resources and analysis advanced statistical techniques
including purpose and use requirements of a
Perform data collection or Use statistical techniques
comprehensive financial
data-entry tasks in support of such as regression, Lead collaborative forecasting
or operational forecast
the budget or forecast Use basic tools and techniques exponential smoothing, and efforts incorporating
of forecasting, such as moving Synthesize and interpret data confidence levels information from multiple
averages and extrapolation from multiple sources internal and external expert
Analyze and synthesize data
from external sources to sources and sophisticated
Anticipate capital requirements
recognize patterns and modeling techniques
to support growth initiatives
Project short-term sales, cash predict customer behavior
and optimization
flows, inventory requirements,
or other financial data in Demonstrate and understand Enhance the forecasting Communicate complex
support of operations within linkages between budget accuracy through the forecasts and budgets to
limited parameters lines, and perform appropriate discovery of key and relevant others
planning (e.g., if sales go up, trends by exploring large
commissions should also go data sets using data analytics
Analyze historical revenues up) and data mining techniques Design and lead the budget
and expenses to determine and financial planning process
seasonal patterns and Validate assumptions made by Recommend an appropriate across multiple business units
anticipate annual requirements departments budgeting methodology in a complex organization
(e.g., flexible, continuous, using advanced software tools
Develop a master budget to rolling, zero-based) to use in
support the goals of a small a given business situation
Analyze fixed and variable
to midsize organization or
operational and financial Link the budgeting process
department/division of a large
relationships as part of the to the strategic planning
organization
budgeting process process
Prepare the projected income
statement, balance sheet, and Integrate and consolidate
cash flow statement information from multiple
departments
Evaluate capacity constraints
for budgeted activity levels
CORPORATE FINANCE VISIONARY
Manage a company’s short-term and long-term financing needs

SKILLED EXPERT
Limited knowledge of Demonstrate an Measure the performance of Evaluate and/or implement Recommend appropriate
corporate finance understanding of the financial investments specific financing strategies financing in complex
concepts related to managing (e.g., funding sources, short- environments considering
organizational liquidity term or long-term uses of both traditional and
Perform valuation surplus cash) nontraditional financial
calculations of financial instruments
Demonstrate an instruments
understanding of basic Analyze alternative means of
financial instruments raising capital (e.g., common Maintain relationships with
Forecast cash requirements, stock, bonds, preferred stock, banks and other sources of
analyze receivables quality, factoring, venture capital) funds (e.g., investment banks,
Distinguish between short- and perform investment of venture capitalists)
term and long-term financing short-term cash
needs Develop and implement
working capital policies (e.g., Develop working capital
Calculate financial ratios cash, accounts payable, policies in complex
related to loan covenants accounts receivable, situations (e.g., multinational
and liquidity levels inventory management) corporations, rolling
up multiple divisions,
subsidiaries)
Ensure compliance with loan
covenants
Recommend dividend and/
or stock repurchase policies
Ensure short- and long-term and plans
financing plans support and
align with the strategic plan
PERFORMANCE MANAGEMENT VISIONARY
Design performance management systems, evaluate the success of strategic and tactical initiatives, and recommend corrective actions where
appropriate

SKILLED EXPERT
Limited exposure to Demonstrate an understanding Perform a comprehensive Develop and implement a Define and communicate
performance management of the purpose of performance variance analysis, and performance measurement an effective performance
management processes and interpret drivers of process aligned with the management system in a
their use in supporting the performance variances overall strategic goal-setting complex environment (e.g.,
strategy (e.g., achieving goals, process public, global, multientities,
incentives, governance) complicated corporate
Analyze the impact of structures)
transfer pricing on business Optimize performance
Perform isolated and/or simple unit performance beyond management and financial Ensure that performance
variance analysis tax consequences reporting processes to measurement processes,
provide useful and timely compensation programs, and
management information systems are closely aligned
Calculate traditional (e.g., use of key performance with the organization’s value-
performance measures in indicators (KPIs), balanced creation model and support
alignment with organizational scorecards, dashboards) the board’s decision-making
strategy role
Assess the robustness, Utilize insights gained

Calculate transfer prices under reliability, and rigor of from performance
existing methodology performance measurement management system to effect
systems organizational change
Transform variance analysis

into actionable insights
Develop transfer-pricing
strategy to optimize
organizational performance
REPORTING & CONTROL

The competencies required to measure and report an organization’s performance in
compliance with relevant standards and regulations.
INTERNAL CONTROL STEWARD
Implement procedures and processes that ensure data security, protect an organization’s assets, and meet legal and reporting requirements

SKILLED EXPERT
Limited knowledge of internal Demonstrate an Verify accuracy of general Perform internal control risk Provide assurance to
control processes understanding of the purpose ledger and subledgers assessment using frameworks management and other
of internal controls for through various accounting such as the Committee of stakeholders regarding internal
use in financial reporting, procedures and controls Sponsoring Organizations of controls (e.g., Sarbanes-Oxley
compliance, and operations the Treadway Commission Act compliance) over financial
(COSO) reporting and nonfinancial
Implement and/or test a reporting
Identify basic internal controls system of internal controls
(e.g., segregation of duties, under management Design an effective internal
physical controls, audit trails, direction control system, including Design and implement
limits of authorization) technology controls, that is internal controls in complex
responsive to the specific risks environments (e.g., public,
Ensure compliance with of the organization global, multientities,
applicable policies and complicated corporate
procedures, including structures)
those mandated by the Develop processes to monitor
Sarbanes-Oxley Act of 2002 the effectiveness of risk
management and internal Integrate internal controls with
controls processes, and the enterprise risk management
Prepare internal audit reports remediate as necessary system
(i.e., compliance, operational,
financial)
Develop an internal audit plan
for the organization
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK REPORTING & CONTROL 18
FINANCIAL RECORDKEEPING STEWARD
Leverage financial accounting skills to record and analyze financial transactions and balances

SKILLED EXPERT
Understanding limited to Perform transactional/ Analyze special accounts Evaluate efficiency and Design appropriate
a specific function (e.g., operational accounting (e.g., deferred tax asset/ effectiveness of accounting recordkeeping procedures in
accounts receivable, functions, including journal liability), and prepare processes, and make complex situations (e.g.,
accounts payable, entries, accruals, and related journal entries recommendations to derivatives, hedging)
payroll transactions) reversals optimize them
Manage fulfillment of Design appropriate

Perform account internal and external audit Analyze complex financial recordkeeping procedures for
reconciliations, and requirements including transactions, and ensure multinational organizations,
prepare schedules to checklists and schedules they are recorded properly including consolidations
support the preparation in accordance with across segments and
and/or audit of financial accounting standards industries
statements
Analyze proposed
transactions to determine
the potential impact on
financial statements
COST ACCOUNTING STEWARD
Support external financial reporting by compiling and analyzing costs incurred by an organization

SKILLED EXPERT
Limited exposure to costing Identify basic cost Calculate costs using an Implement cost accounting Analyze the projected
concepts and methods classifications (e.g., fixed, efficient methodology and processes and systems impact on financial
variable, direct, indirect) practice for your industry in appropriate for your statements of major
and their use for financial accordance with accounting industry’s financial reporting business decisions affected
reporting and inventory standards by costing methodologies
valuation
Recommend the appropriate
Prepare cost reports cost accounting approach Reconcile managerial
Calculate basic product/ and variance analysis for to use for a business’s cost calculations for
service costs management external financial reporting decision support with cost
requirements accounting calculations for
external financial reporting,
Coordinate cost collection Demonstrate an and explain the differences
efforts understanding of the
difference between absorption
costing and variable costing
Calculate joint product costs

and by-product costs
FINANCIAL STATEMENT PREPARATION STEWARD
Leverage financial accounting skills needed to prepare financial statements for internal and external stakeholders

SKILLED EXPERT
Limited exposure to financial Identify basic financial Apply knowledge of more Analyze the impact of Prepare complex financial
statement preparation statements, their purpose, advanced financial accounting changing accounting statements
and their elements standards (e.g., leases, standards on the financial
pensions, deferred taxes) statements
Reconcile financial statements
Understand basic U.S. prepared using various
Generally Accepted Research, recommend, and Prepare Management reporting standards (e.g., IFRS
Accounting Principles (GAAP), apply appropriate accounting Discussion & Analysis (MD&A) and U.S. GAAP)
International Financial treatments for a public company or a
Reporting Standards (IFRS), similar report for a private
and/or country-specific company Prepare applicable quarterly
reporting frameworks Prepare basic financial and annual regulatory filings
statements for both internal
and external stakeholders Ensure compliance with
all applicable regulatory
requirements regarding
Prepare a comprehensive set financial reporting
of footnotes
Implement efficiencies to
continuously improve the
quality and speed of the
financial close process
FINANCIAL STATEMENT ANALYSIS STEWARD
Analyze a company’s financial statements to assess performance

SKILLED EXPERT
Limited exposure beyond Demonstrate an Analyze financial statements Design a system of financial Analyze the impact on
understanding basic financial understanding of the and financial data to guide ratios and other performance financial ratios from complex
statements interrelationship among basic decision making indicators appropriate for a financial transactions (e.g.,
financial statements specific financial situation mergers and acquisitions
Interpret the meaning of (M&A), divestitures)
financial ratios
Calculate financial ratios Analyze the impact of foreign
Analyze the impact of operations on reported Analyze the financial
changes in reporting financial results, including statements of competitors,
standards or accounting foreign exchange transactions customers, and suppliers,
methods on financial and interpret trends to
statements provide input to the planning
Analyze the potential impact and forecasting processes
Analyze loan covenants, and of macroeconomic, social,
report on compliance political, and environmental
factors on the organization’s
Perform comparisons of financial results
two entities or an entity
to industry average using
common-size financial Coordinate and integrate
statements a comparison of financial
statement ratios across the
Perform trend analysis by organization
comparing performance over
time
Perform and interpret
business unit and
intercompany trend analysis
TAX COMPLIANCE AND PLANNING STEWARD
Implement procedures and processes to ensure accurate and timely tax filings and effective tax strategies

SKILLED EXPERT
Limited exposure to tax Demonstrate an Gather data and provide Prepare accurate and timely Manage taxation
compliance and planning understanding of business input to tax returns, and tax filings responsibilities in multiple
taxation general concepts understand the relationship jurisdictions and multiple
and rules of various tax schedules to industries
each other Analyze the tax impact of
alternative business decisions
Demonstrate an Formulate tax strategy for
understanding of book vs. Ensure the recordkeeping multinational corporations
tax differences in financial system supports tax Provide tax advice for business
statements reporting and reflects the decisions
tax environment of the Evaluate the risk and impact
organization of changes in tax laws, and
Manage fulfillment of recommend mitigation
government tax auditors’ strategies
information requests
Use effective tax strategies

Research and advise on to improve cash flows
international tax issues
Lead tax strategy and

Develop and implement planning for a complex
appropriate policies and organization
procedures to ensure tax
efficiency and compliance
Work with tax authorities
within country-specific
regulatory frameworks
to finalize tax liability in
complex situations
INTEGRATED REPORTING STEWARD
Report organizational value created over time for stakeholders and society, including financial and nonfinancial information

SKILLED EXPERT
Limited exposure to Demonstrate an Prepare reports to providers Develop a balanced set Develop and communicate
integrated reporting understanding of the of financial capital, of leading and lagging an integrated strategy for the
elements of sustainability regulators, and other performance metrics based on organization around the
reporting stakeholders in response to the different forms of capital different forms of capital
their multicapital information and other value-relevant
needs frameworks
Compile and summarize data Lead through integrated
to measure various forms thinking the development
of capital—for example, Demonstrate a systems Design reports to present of future-oriented reports
financial, manufactured, approach to integrated the value the organization to benefit all stakeholders,
intellectual, human, social reporting, and identify creates, recognizing including employees,
and relationship, and natural barriers different perspectives and customers, suppliers,
incorporating material business partners, communities,
financial and nonfinancial governmental bodies,
Design systems to efficiently sustainability measures regulators, and policy makers
collect information on
relevant capitals over time
Assess and report on the
relationship among the
different capitals
Ensure integrated reports are

prepared in accordance with
suitable criteria, including
relevance, completeness,
reliability, neutrality, and
understandability
TECHNOLOGY
& ANALYTICS
The competencies required to manage technology and analyze data to enhance
organizational success.
INFORMATION SYSTEMS CATALYST
Use technology to effectively support operational and financial processes, solve problems, analyze data, and enhance business performance

SKILLED EXPERT
Minimal exposure to data Demonstrate an Manage the general ledger (GL) Design ERP workflows, multi- Design systems structure to
and information systems understanding of processes module (e.g., chart of accounts, level charts of accounts, and optimize operational and
beyond data input related to a single module journal entries, trial balance) system integration for sound financial performance
in a financial system (e.g., financial control
accounts payable module Control and manage how and Manage implementation of
in an enterprise resource when data enters the financial emerging technologies to Evaluate, recommend, and
planning (ERP) system) systems from other modules improve financial processes implement the appropriate
ERP system in a complex
Use and train others in how to
Demonstrate competence Work closely with the environment
use multiple modules within an
in using basic hardware and Information Technology enterprise-wide system (e.g.,
software tools department to implement material requirements planning
solutions to business issues Design data marts and data
(MRP), purchasing, warehouse
Identify different types of data and leverage opportunities warehouses to provide access
management, customer
(e.g., structured, unstructured, to information throughout an
relationship management
numeric, text, sensor) Document business organization
(CRM))
requirements for information
Prepare basic business system design Identify data sources, and
process flowcharts (e.g., define acceptance tests for
inventory control) with Demonstrate an understanding integration of information into
information gained from of elements in relational performance management
relevant stakeholders databases systems
Recognize and address the
Demonstrate an Utilize relational database cascading impact of changes
understanding of the concepts, including primary and in an integrated systems
potential applications of secondary keys, when designing environment
emerging technologies (e.g., reports Automate data collection,
cloud computing, blockchain, validation, and reporting using
robotic process automation, Design relational database software tools
artificial intelligence) tables Design and implement new
data models as the business
and environment evolve
Identify data flow weaknesses,
and recommend potential
improvements
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK TECHNOLOGY & ANALYTICS 26
DATA GOVERNANCE CATALYST
Ensure the availability, utility, integrity, and security of data

SKILLED EXPERT
Limited knowledge of data Exercise sound data Communicate potential data Improve processes for Design and implement
governance stewardship by complying errors and weaknesses in preventing and correcting data governance systems in
with all data policies and procedures issues with data accordance with established
documenting procedures frameworks such as COSO and
Limited knowledge of the followed Implement controls such as Balance risk and materiality COBIT
life cycle of data (creation, penetration and vulnerability when determining the level of
retention, storage, testing to detect and thwart security Design governance
obsolescence, deletion) Comply with data retention, cyberattacks implementation processes,
archival, and disposal policies Evaluate costs and benefits including the creation of
as part of the data life-cycle Implement an effective when recommending strategies appropriate unit, integration,
process financial systems environment for data management penetration, and acceptance
to support internal controls testing criteria
Use data process validation
Demonstrate an under- Demonstrate an understanding and security tests such as unit Set policies for data retention
standing of the business and of data governance testing, penetration testing, and storage processes
reputational impact of frameworks such as the and acceptance testing criteria in accordance with legal
making decisions with Committee of Sponsoring requirements
incorrect, poor-quality, invalid, Organizations of the Treadway Develop early warning systems
and/or incomplete data Commission (COSO) and and other risk mitigation data Automate data cleansing
Control Objectives for strategies processes
Information and Related
Demonstrate an Technologies (COBIT) Manage the flow of data
understanding of the need throughout its life cycle (e.g.,
to protect the security and Implement processes to risk of stale data or incomplete
privacy of stakeholder data protect the privacy of emerging data)
stakeholder data
Participate as part of a cross-
Demonstrate an Implement sound data functional team to evaluate
understanding of the basic retention, archival, and available technologies and
principles of data security disposal policies platforms to meet business
needs
Identify and correct incomplete
or inaccurate data
DATA ANALYTICS CATALYST
Extract, transform, and analyze data to gain insights, improve predictions, and support decision making

SKILLED EXPERT
Limited knowledge of data Create spreadsheets and Extract, transform, and query Utilize specialized reporting Implement solutions using
analytics manipulate data using basic data using appropriate tools tools (e.g., eXtensible Business multiple query, scripted, or
functions and formulas such such as Structured Query Reporting Language (XBRL)), interpreted languages (e.g.,
as graphs, filtering and Language (SQL) and interpret results SQL, Python, R)
sorting data, and importing
data Design organizational templates
Interpret information needs for use by others Build prescriptive models to
and translate into actionable optimize organizational
Calculate basic descriptive requests for data analysis Mine large data sets to reveal performance (e.g., goal
statistics such as ratios and patterns and provide insights seeking)
basic averages to reveal
trends Use descriptive analytics Use predictive analytics
to evaluate efficiency and techniques to interpret results, Use advanced statistical tools
effectiveness of business draw insights, and make for exploratory data analysis to
Demonstrate an initiatives recommendations reveal patterns and discover
understanding of the insights to achieve business
importance of using data to Apply statistics to a data set outcomes (e.g., cluster
make business decisions Use simple linear regression to using specialized statistical analysis, time-series analysis,
predict business outcomes and software and/or business Monte Carlo analysis)
interpret results intelligence software
Demonstrate an
understanding of business Use multiple regression for
intelligence and data mining Determine and report cause predictive and prescriptive
and effect using diagnostic purposes, and interpret results
techniques
Transform raw, unstructured
data into a form more
Perform ad hoc exploratory appropriate for analysis (e.g.,
data analysis using query data wrangling)
languages
DATA VISUALIZATION CATALYST
Present data visually to better explain key patterns, trends, and correlations

SKILLED EXPERT
Limited knowledge of data Create simple charts and Utilize table and graph Evaluate data visualization Interpret and communicate
visualization graphs using visualization design best practices to options, and select the best complex analyses to
tools (e.g., Excel, Tableau) avoid distortion in the presentation approach for the stakeholders using advanced
or prebuilt visualization code communication of complex intended audience data visualization techniques at
packages information an audience-appropriate level
Demonstrate an understanding
of how to best communicate
Demonstrate an Demonstrate an understanding results with advanced Construct custom visualizations
understanding of how to best of how to best communicate visualizations (e.g., Sankey using JavaScript—either in
communicate results with results with intermediate plots, bubble charts, network website or with business
basic visualizations (e.g., line, visualizations (e.g., histograms, diagrams) intelligence platforms
bar, pie, scatter plots) area charts, heat maps)
Accelerate decision making
using visualization tools Demonstrate expertise in
and/or code packages all three aspects of data
to construct multivisual visualization: substantive,
dashboards combining statistical, and artistic
relevant visualizations
Utilize simplicity of design

techniques to present results
of complex data analysis in an
understandable manner
Utilize advanced features of

visualization applications
BUSINESS ACUMEN
& OPERATIONS
The competencies required to contribute as a cross-functional business partner to transform
company-wide operations.
INDUSTRY-SPECIFIC KNOWLEDGE PARTNER
Understand and master dynamics and drivers of business success in a specific industry

SKILLED EXPERT
Limited knowledge of the Demonstrate an Evaluate the supply chain, and Prepare the discussion of risk Serve as an expert on the
industry in which the understanding of the industry identify risks related to specific for external reporting (e.g., specific industry, including
company operates based on limited work vendors and customers the Management Discussion value chain, competitive
experience or exposure to and Analysis (MD&A) section issues, regulatory matters,
reports in the business media in the annual report) and customer perspectives
Keep pace with industry
developments proactively
Analyze the annual reports of Serve as an expert speaker
customers, competitors, and and/or advisor on industry
Monitor the activities of suppliers matters
competitors
Analyze the industry Formulate ways to increase

Identify sources of competitive competitive structure, competitive advantage and/or
intelligence including the level of identify new sources of value
competitive rivalry creation
Perform a financial ratio

analysis of competitors Master industry-specific Lead an organization’s
accounting and tax competitive analysis team
requirements
Evaluate an organization’s
strategic risk (i.e., determining
if the strategy is aligned
with market and industry
conditions)
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK BUSINESS ACUMEN & OPERATIONS 31
OPERATIONAL KNOWLEDGE PARTNER
Serve as a valuable business partner to operational units outside the accounting/finance department

SKILLED EXPERT
Limited exposure to business Demonstrate an understanding Work closely with other Work on cross-functional Serve as an expert leading
operations beyond the of the flow of information functions including teams as a business partner to manufacturing, production,
accounting/finance and materials through the Procurement, Materials implement multidepartment distribution, or service delivery
department organization Management, Production, change as a result of experience
Research, Marketing, gained through job rotations
Information Technology, or previous career positions
Human Resources, Legal, Demonstrate operational
Facilities, Customer Service, knowledge through job
and across business units rotation and/or participation in Develop creative solutions to
cross-functional projects optimize performance across
the value chain
Participate in the formulation
of solutions to operational
issues beyond the finance Serve as a business partner
department recognized by other teams
and business areas as having
operational expertise
QUALITY MANAGEMENT AND CONTINUOUS IMPROVEMENT PARTNER
Use quality management and continuous improvement tools and techniques effectively

SKILLED EXPERT
Limited exposure to quality Recognize quality Demonstrate an understanding Lead cross-functional Use quality management
management and/or improvement tools (e.g., of quality improvement and departmental quality tools and approaches to
continuous improvement process mapping, Kaizen, approaches (e.g., lean, improvement efforts optimize the operations of
approaches fishbone diagrams) Six Sigma, total quality partners in the supply chain
management (TQM))
Use quality management
Perform trend analysis of tools and approaches to Serve as an expert and
quality measures Calculate the cost of quality improve cross-functional champion/sponsor of
and expected savings from operations multiple, complex quality
improvement efforts management initiatives
Master one or more quality

Use quality management tools management methodologies Lead value stream mapping
and approaches to improve the such as Six Sigma and analysis to optimize
accounting/finance operation operations
Represent finance/accounting
on operational quality
improvement teams
PROJECT MANAGEMENT PARTNER
Plan and organize resources, both people and financial, in order to complete a major undertaking or event

SKILLED EXPERT
Limited exposure to formal Demonstrate an Participate on teams using Lead projects using project Champion/sponsor multiple
project management tools understanding of basic project management tools management tools, including simultaneous projects that
project management tools (e.g., Gantt Charts and critical scheduling of resources have significant budgets
(e.g., timelines, checklists, paths) and approaches (e.g., using project management
milestones) Waterfall, Agile, Scrum) tools
Instill a culture of
project management
professionalism that guides
the organization with
formalized approaches
LEADERSHIP
The competencies required to collaborate with others and
inspire teams to achieve organizational goals.
COMMUNICATION SKILLS CHAMPION
Listen effectively to others, and convey thoughts or ideas through various forms of communication including written, spoken, and nonverbal

SKILLED EXPERT
Limited knowledge, Organize and present Prepare clear and concise Recognize differences in Develop communication
skills, and/or experience thoughts, information, and written communications others’ communication styles, strategies to optimize
communicating in a facts logically and adjust own as appropriate messaging through tools,
professional setting tone, and timing
Listen effectively, ask
Understand verbal and questions, and express Communicate both positive
nonverbal cues and their concerns and negative results Answer difficult questions
importance effectively with sensitivity to from key stakeholders (e.g.,
the listener staff, board members,
Tailor communications to auditors, investment analysts,
culturally diverse audiences the media) effectively,
Make effective presentations providing persuasive and
(i.e., engaging, motivating, credible responses
concise, well-prepared)
Coach others on how to

Use technology (e.g., social communicate effectively and
media) tools effectively as a build consensus
communication vehicle, taking
into consideration recipients’
preferences Excel at the use of
technology tools to expand
leadership presence
Design communication
programs, taking into
consideration global diversity
and local customs and norms
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK LEADERSHIP 36
MOTIVATING AND INSPIRING OTHERS CHAMPION
Influence, motivate, and gain support of others in order to achieve organizational goals through the use of emotional intelligence,
accountability, and setting the “tone at the top”

SKILLED EXPERT
Limited knowledge, skills, Recognize the importance of Identify strengths and areas Identify and adopt appropriate Inspire others to perform to
and/or experience with motivation for growth of team members leadership style for a given their full potential and exceed
motivating and inspiring situation expectations
others
Recognize differences in
personality style and Provide positive feedback Motivate teams across the
preferences when motivating to staff as appropriate, and organization to overcome
team members communicate recognition to challenging situations
the team and others
Provide effective advice and Coach others on how to motivate

feedback to enable individual Build effective teams, and individuals/teams effectively
contributors to achieve goals implement innovative ways to
and improve performance motivate team members
Lead managers to inspire and
motivate their teams
Consider the impact of Anticipate emotional reactions,
emotions on communication and respond effectively in
and interactions with others guiding and leading others Lead by example, especially in
difficult times
Demonstrate the importance

of continuously expanding
professional knowledge, skills,
and abilities for self and team
in order to grow expertise and
add value to the organization
COLLABORATION, TEAMWORK, AND RELATIONSHIP MANAGEMENT CHAMPION
Work effectively with others in order to achieve a trusting relationship that yields positive results

SKILLED EXPERT
Limited knowledge, skills, Communicate with team Work across departmental Collaborate with partners Consider the importance
and/or experience with members in a respectful and boundaries, and contribute in the value chain to of corporate culture when
collaboration and teamwork consistent manner beyond individual achieve beneficial working assessing opportunities to
responsibilities to achieve relationships and positive enter into partnerships with
team goals outcomes other organizations
Contribute to team
achievements by taking
responsibility for own efforts Listen proactively to others, Provide constructive feedback Serve as a role model in
and seeking input/assistance encourage collaboration, and and assistance to others in thinking outside the silo/
when needed help build consensus among addressing issues or conflicts business area to identify
team members opportunities for innovation
Seize opportunities to team

Give credit to members of the with others to achieve positive
team for their contributions results
Encourage an integrated
approach to performance
management, and discourage
functional silos
Collaborate on innovative
products, services, and/or
processes that will help the
organization succeed
CHANGE MANAGEMENT CHAMPION
Lead an organization, team, or individuals through transition toward a desired vision or goal

SKILLED EXPERT
Limited knowledge, skills, Understand the importance Participate in change Collaborate with other Champion change by
and/or experience with of change as a critical initiatives, and encourage leaders in evaluating and leading the organization
change management element of continuous acceptance of change by executing change initiatives through a major transition to
improvement coaching with empathy and achieve strategic goals
patience
Encourage continuous
Seek to understand improvement, and coach Promote the vision for
change and to accept Develop plans to support staff on how to maximize change, and lead major
implementation change initiatives effectively resulting benefits organizational change
with an appropriate degree efforts effectively
of urgency
Identify barriers or
resistance to change Create an organizational
Communicate reasons for initiatives, seek ways to culture that seeks innovation
change and associated overcome them, and gain and embraces change
plans to make the change commitment
Make innovation a clear

priority, and communicate
that every function has the
opportunity and ability to
contribute to this goal
CONFLICT MANAGEMENT CHAMPION
Resolve issues using appropriate influencing skills and tools to achieve successful business goals and arrive at the best organizational outcomes

SKILLED EXPERT
Limited knowledge, skills, Understand that conflict is Address conflict in a timely Deal effectively with difficult Encourage passionate debate
and/or experience with inevitable and that avoidance manner, and seek appropriate situations by asking clarifying about issues and ideas to
conflict management is not a solution solutions questions, exploring solutions, move the organization forward
and establishing boundaries
for all parties
Anticipate others’ reactions, Create a culture where
and consider others’ constructive conflict leads to
viewpoints to promote mutual Intervene to defuse tension continuous improvement
understanding with tactful and assertive
approaches
Analyze the causes and

components of conflict, Engage in respectful debate
including stakeholder regarding issues of importance
viewpoints, competing
priorities, and limited
resources Develop and disseminate
techniques and tools to guide
conflict resolution
Raise issues to appropriate
management when resolution
is not achieved Engage effectively in crucial
and difficult conversations
NEGOTIATION CHAMPION
Reach agreement between two or more parties to achieve the best outcome for the organization and an acceptable solution to
negotiating parties

SKILLED EXPERT
Limited knowledge, skills, Recognize the importance Present a clear and concise Utilize a tactful and creative Achieve timely and positive
and/or experience with of positive business point of view using relevant approach to solving results through negotiation
negotiation relationships in successful data problems, and reach skills
negotiations consensus where all parties
feel a win was achieved
Anticipate probable points Serve as a successful go-to
of disagreement to be negotiator or arbitrator
negotiated Understand the impact
of diversity and cultural
differences on negotiations Gain consensus consistently
Follow a defined process from all parties in order to
for negotiations, ensuring achieve win-win organizational
that risks are identified and Document contractual terms solutions
mitigated and that corporate and decisions about roles
goals are achieved and responsibilities to
promote lasting agreement Demonstrate sensitivity to the
and positive outcomes impact of global political and
economic issues on cross-
border negotiations
TALENT MANAGEMENT CHAMPION
Select, develop, retain, and reward people to ensure a strong workforce and successful business performance

SKILLED EXPERT
Limited knowledge, skills, Recognize the desired levels Interview and select team Develop effective staff Promote talent management
and/or experience with of performance for self and members effectively, aligning recruitment and retention and the importance of diversity
performance and talent team skills with responsibilities and practices across the organization
management assignments
Understand the importance of Develop key performance Establish succession plans for
team dynamics, approaches, Delegate responsibility, indicators (KPIs) that align key roles in the organization
and output promote independence, and with overall business
solicit feedback from the team objectives
Promote a culture of
Understand the importance of performance by communicating
talent selection and ongoing Recognize excellent team Create a trusting a clear vision and shared values
performance management for performance, and reward environment for team
organization success positive results members to ask questions
and offer ideas freely Inspire others by demonstrating
the importance of teaming
Prepare annual performance to achieve successful
appraisals, and use relevant Coach and develop staff business results
and specific examples to on achieving performance
ensure feedback is meaningful goals
to employees regarding goals Develop performance reward/
and performance incentive systems to drive
Engage in career path behavior aligned with the
discussions and succession organization’s strategic initiatives
Recommend professional planning for the team
development resources for
career advancement and
closing skills gaps Hold managers accountable
for the performance of their
teams
PROFESSIONAL ETHICS
& VALUES
The competencies required to demonstrate the professional values, ethical behavior, and
legal compliance essential to a sustainable business model.
PROFESSIONAL ETHICAL BEHAVIOR GUIDE
Comply with a set of guiding principles that govern a person’s behavior in the workplace

SKILLED EXPERT
Recognize that professional Demonstrate an Recognize potential Foster a culture of ethical Lead in establishing and
standards and organizational understanding of the need ethical conflicts in one’s behavior and accountability maintaining the appropriate
policies exist for professional ethics in responsibilities based within the organization ethical tone throughout the
business situations (e.g., on organizational and/or organization
confidentiality, competence, professional guidelines
Act in an ethical manner in integrity, credibility) Design, implement, and
accordance with societal strive to continuously Provide expertise and serve
norms, values, and laws Recognize the importance improve a company-wide as a role model regarding
Act in accordance with of an organization’s core ethics program complex ethical conflicts
the standards and values and how they faced by organizations
principles outlined in the promote ethical behavior
IMA Statement of Ethical Advise and train others
Professional Practice or on how the organization’s Foster an ethical supply
other relevant standards ethics code applies to chain by establishing
questionable situations they and enforcing relevant
may encounter organizational policies and
ethical standards
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK PROFESSIONAL ETHICS & VALUES 44
RECOGNIZING AND RESOLVING UNETHICAL BEHAVIOR GUIDE
Identify ethical conflicts and lapses in the workplace, and take appropriate action

SKILLED EXPERT
Be aware of the potential Recognize ethical conflicts Help identify and resolve Train others in the Apply internal control
existence of unethical such as conflicts of interest business situations that organization’s ethics policy, the expertise to design
behavior or fraudulent or situations susceptible to include ethical dilemmas concepts of the fraud triangle, procedures that
activity in the workplace fraud (e.g., sales targets, incentive the IMA Statement of Ethical reduce the likelihood of fraud
compensation, travel and Professional Practice, and/or and ethical conflicts
entertainment expenses) other ethical constructs
Understand the importance Follow appropriate
of trustworthy behavior reporting protocols when Design an ethics and
unethical behavior is Apply critical thinking, an Apply professional judgment, compliance program that
suspected objective mind-set, and knowledge of strategies, and includes training, supply chain
professional skepticism in best practices to resolve communication, and vendor/
business situations complex ethical conflicts customer qualifications
Recognize differences in Recognize “red flags” and Be recognized as an ethics

cultural norms that could risks in complex situations thought leader promoting the
interfere with ethical decision that may indicate purposeful management accounting
making misrepresentation profession and values
Apply organizational policies Assist others to resolve ethical Champion the spirit of
and the IMA Statement of conflicts ethical behavior within the
Ethical Professional Practice to organization and across the
potential ethical conflicts supply chain
LEGAL AND REGULATORY REQUIREMENTS GUIDE
Execute the organization’s strategy with integrity, complying with the law, regulations, and standards

SKILLED EXPERT
Comply with the Understand the necessity Provide guidance to staff Design and implement Lead compliance efforts with
organization’s legal and for legal requirements and on identifying legal and programs, policies, and complex and sometimes
regulatory environment the linkage to protecting regulatory conflicts procedures to ensure contradictory business
the public interest compliance with laws and regulations in the spirit of
regulations protecting the public interest
Manage compliance with (e.g., tax codes, U.K. Bribery
employment, safety, and other Act, U.S. Foreign Corrupt
business regulations in the When laws and/or regulations Practices Act, E.U. General Data
spirit and the letter of the law conflict or are unclear, make Protection Regulation, anti-
ethical decisions consistent money laundering/combating
with fiduciary responsibilities terrorist financing regulations)
Manage compliance with
industry-specific laws,
regulations, and reporting
requirements
See how you measure up to our Competency Framework
and explore your career potential with CareerDriver®.
www.imanet.org/CareerDriver
Copyright © 2019 IMA (Institute of Management Accountants). All rights reserved. IMA MANAGEMENT ACCOUNTING COMPETENCY FRAMEWORK
The journey to a greater management accounting
The journey to a greater management accounting
careercareer
starts with
starts withthese core
these core competencies
competencies.
To learn how IMA’s prestigious certification,

To®learn
the CMA how
(Certified IMA’s prestigious
Management credential,
Accountant), verifies skills captured
® this Framework, please visit imanet.org/cma.
the CMA , verifies skills captured in this framework,
in
please visit imanet.org/cma

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IMA MANAGEMENT ACCOUNTING

Title Page Title Page

landscape and the management accounting profession at

This enhanced Framework identifies six domains of core

PROFESSIONAL ETHICS & VALUES

The competencies required to demonstrate • Professional Ethical Behavior

Domain Competencies 2020 CMA Domain Competencies 2020 CMA

• Strategic and Tactical Planning......................... Part 1

• Internal Control................................................. Part 1 • Communication Skills......................................... N/A

• Information Systems......................................... Part 1 • Professional Ethical Behavior............................ Part 2

IMA Strategy and Competitive Statements on Management

The Master Guide to Controllers’ Best

IMA Statement of Ethical Professional

LIMITED BASIC APPLIED

Evaluate the impact of Recommend new methods

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Prepare capital expenditure

LIMITED BASIC APPLIED

Develop and report metrics

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Assess the robustness, Utilize insights gained

Transform variance analysis

REPORTING & CONTROL

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Manage fulfillment of Design appropriate

LIMITED BASIC APPLIED

Calculate joint product costs

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Use effective tax strategies

Lead tax strategy and

LIMITED BASIC APPLIED

Ensure integrated reports are

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Utilize simplicity of design

Utilize advanced features of

LIMITED BASIC APPLIED

Analyze the industry Formulate ways to increase

Perform a financial ratio

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Master one or more quality

LIMITED BASIC APPLIED

LIMITED BASIC APPLIED

Coach others on how to

LIMITED BASIC APPLIED

Provide effective advice and Coach others on how to motivate

Demonstrate the importance

LIMITED BASIC APPLIED

Seize opportunities to team

LIMITED BASIC APPLIED

Make innovation a clear

LIMITED BASIC APPLIED

Analyze the causes and