Reading a CMA student blog recently, I saw the following question (or some derivative) posted several times. As this is obviously of some concern to our students I asked one of the CMA Programs Coordinators, Peter Ferguson, to write a response.
QUESTION: I am thinking about taking the CMA Accelerated Program in January 2010. I have no practical accounting experience and am concerned about the practical experience requirements. What should I expect when looking for a position that will fulfill these requirements?
RESPONSE: This question comes up a lot among our CMA students, and although this may not be a fully comprehensive answer I’ll try to provide you with an overview that should put your mind at ease.
Practical Work Experience isn’t something to be too concerned about before you’ve started the AP (Accelerated Program). If you’re thinking about the January 2010 AP, then you’d be in line to complete the last stage of the CMA accreditation process (which is the Strategic Leadership Program or SLP) by sometime in 2012, at which time you’ll hopefully qualify to attain your CMA designation. It’s only at the end of this program that we look at the work reports you’ve submitted. As long as you’ve demonstrated a certain amount of competence in accounting by then, you can qualify as meeting the work requirements.
You don’t need to have done accounting through all 24 months of the practical experience, just at some point by the end of the program. You can also claim up to 12 months of previous experience as long as it was within 5 years of starting SLP.
There are other relevant areas we examine besides accounting, e.g. you’ve been a manager, you’ve looked after budgeting, perhaps your current position might change over the next 2 or 3 years, and you’ll start dealing with more accounting as you gain skills and competence through the CMA Program. You can also volunteer for some projects at work that would allow you to increase your responsibilities in these areas.
Almost everyone who gets into the SLP eventually does attain their CMA designation. We certainly understand that everyone faces different circumstances within their work environment and we will provide as much help and guidance as possible. So even without much practical accounting experience right now, the odds are definitely in your favor that you’ll obtain that experience by the end of the program.
