#z

Competency Framework and Map for the CMA Profession

Section
CMA Competency Framework

This section explains the pillars of the CMA profession and the primary elements of the CMA Competency Map: ihe functionai competencies, the enabling competencies, and the
competencY stages.

The CMA designation rests on a foundation of three interrelated and interdependent dimensions: accountin g, m nagement and stlategy. These pillars of the profession form a base suppoiting the wicler business teritory that many different designations, knorvledge -and special:r,ed piograms seek to serve. For example, traditional MBA programs degrees, arJdesigned to place .andidut.r on the axis befween management and stlategy' At the cenffe of this three-dimensional framework, is the more specific ten'itory of the strategic management accounting profession and the individual strategic financial pr6fessional within it-. This differentiated territory, represented by the doned *ot oJgr "nt circle, is secured by the integrative andbalanced appltcation of knowledge and expertise from
all three areas.

StrategY

Management

Accounting

CMA

CMA defined by the balanced integration of the three core pillars of Sfrafegy
Management (M) and Accounting (A).
Differentiated territory for the strategic management accountant

(S),

June 20A6 Final

Competency Framework and Map for the CMA Profession

CMA Gompetency Framework (continued)

An overview of the three pillars of the CMA profession is presented below. It must be emphasized that, in both theory and practrce, the pillars are non-hierarchical and that balanced integration is fundamental to the brand essence of the strategic financiai management profession. However, for illustrative purposes, the respective functional fields are described in the sequence in whi'ch prospective CMAs typically master them.
Accounting is often a prerequisite to developing higher-level management skills which, in turn, are usually necessary for the fulfi-lment of strategic responsibilities within an organization.

1.

Accounting
The functional knowledge and expertise of CMAs has been and will continue to be grounded in accounting, and includes an understanding of the rnternal and external forces that affect the numbers involved in accounting. Specifically, CMAs harness accounting knowledge in support of such considerations as revenue alternatives, cost management, and value building. Simply put, this ptlIar involves getting the numbers
righr.

2.

Management Today, CMAs function as integral members of the management teams in their respective organizations, and this wil1 continue to be the case in the future. Consequentty, CURs must comprehend the process of achieving organtzattonal goals and be able not only to manage people but also to understand, anticipate, and react to internal and external forces. In short, this pillar involves usittg the rigltt
numbers to implement strategy ffictively.

3.

Strategy
Increasingly, CMAs serve as resources in formulattng and implementing a corporate mission and vision, and this historic role wil1 continue to be theirs. CMAs play an active part in ensuring that value creation for stakeholders is maximized by balancing and influencing strategic factors. In sum, this pillar involves using both the numbers and afl awareness of external and internal forces to manage existing strategies and generate new
ones.

June 2006 Final