Golden West Council
Continuing Professional Education;
Chapter Support of the IMA Member
October 30, 2010
Facilitated by: LuAnn M. Klann, CMA
Objectives
• Continuing Professional Education
– Understanding the criteria
– Reporting
• Chapter Support of the IMA Member
– Benefits of IMA Membership
– Purpose of the Chapter and Council
Continuing Professional Education
WHAT IS CPE?
CPE, or Continuing Professional Education, is a program designed to keep accountants
abreast of current trends and newsworthy items. Accounting professionals who hold
Certifications are required to obtain a certain number of CPE credits per year to remain
licensed.
Continuing Professional Education
HOW DOES ONE GET CPE?
Seminars
CPE credits can be earned by attending seminars conducted by professionals in the
industry. The topics can vary greatly; however, they will have something to do with
accounting or other financial topics.
Online Learning
CPA credit can also be earned online as part of an interactive learning unit. Several
organizations offer online CPE credits that can fulfill annual CPE requirements.
College
Many colleges offer courses that can count toward the fulfillment of CPE requirements.
These are generally offered as evening or weekend courses to accommodate work
schedules.
Reporting
CMAs are required to report their CPE credits to the IMA to ensure that the CMA License
is renewed. For IMA Events, the Global Organization, the Regional Council, and the
Local Chapter will report the CPE for the IMA Member.
Continuing Professional Education
Equivalent IMA CPE
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Must be IMA-conducted, sponsored or co-sponsored with another organization (cosponsorship requires significant involvement by IMA).
Topic must be relevant to management accounting.
Education may be at local, regional, or national level, but does not include student
chapter meetings.
All chapter membership types are counted equally for CPE.
Credit for attendance is given to the attendee’s home chapter, regardless of the
location of the program.
Chapters sponsoring the program can also count attendance for:
– Members-at-Large
– Members from Chapters not meeting minimum requirements for Compensation
and Competition
I Hour of CPE = 50 Minutes of Instruction; ½ Hour of CPE = 25 Minutes of Instruction;
Criteria of less than ½ Hour not applicable and rounding up does not pertain.
Continuing Professional Education
Examples of CPE Calculation
Dinner Technical Meeting
6:00 Check-In & Networking; 6:30 Dinner; 7:15 Speaker; 8:30 Announcements
Equivalent = CPE 1.5 Hours (75 minutes/50 minutes per hour CPE)
Saturday Technical Event
8:45 Check-In & Networking; 9:00 to 1:00 (4-50 Minute Sessions with 2-20
Minute Breaks);
Equivalent = CPE 4:0 Hours
Incorrect Calculation of CPE
6:15 Check-In & Networking; 6:45 Dinner; 7:15 Speaker; 8:00 Break and
Chapter Announcements; 8:20 Speaker (Con’t); 9:20 Close of Meeting
Advertised as 3.0 Hours of CPE: actually = 2.0 Hours of Equivalent CPE (45 +
60 minutes = 100 minutes/50 minutes per hour CPE)
Continuing Professional Education
CONTINUING PROFESSIONAL EDUCATIONAL GUIDELINES
To assist in meeting the requirements for qualified programs, the following guidelines are
recommended:
• Attendance should be maintained by the chapter for five years (preferably in the
permanent records of the Chapter Secretary) Chapter Operations Manual - 44
• Programs must be presented in units of at least one class hour (minimum of 50
minutes constituting one class hour).
• Programs must be conducted by a qualified instructor or discussion leader. Programs
should be relevant to accounting.
• A written outline of the program should be retained by the chapter for five years
(preferably in the permanent records of the Chapter Secretary).
• Participant evaluation forms should be retained by the chapter for five years.
• A certificate of attendance should be given to each participant, including the
recommended continuing education hours.
Continuing Professional Education
BENEFITS TO CHAPTER
To qualify for competition and compensation, CPE must be earned from
events that are IMA conducted, sponsored, or co-sponsored. Cosponsorship requires significant involvement by IMA.
Chapter earns 1 CPE for each CPE hour earned by its members.
Chapter is paid $.60 for each CPE earned.
Note: Chapter does not receive credit for CMA self-study.
Support of the IMA Member
BUSINESS CREED
IMA members are today's leaders, managers, and decision makers in
management accounting and financial management.
As members, we are dedicated to continued professional development,
to achieving the highest levels of professional certification, and to
supporting each other in our commitment to professional excellence.
Support of the IMA Member
WHAT WE OFFER
With a network of about 60,000 professionals, IMA provides a
dynamic forum for management accounting and financial
professionals to develop and advance their careers through its
Certified Management Accountant (CMA®) program, cutting-edge
professional research and practice development education,
networking, and the advocacy of the highest ethical and professional
practices.
Support of the IMA Member
Benefits of Chapter Membership
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Network with peers in the industry
Be part of an effective and common voice to develop and protect the interests of the
profession
Stay on top of trends that affect the industry in your market
Take advantage of local professional development opportunities
Socialize with industry insiders
Take advantage of discounts to dynamic and educational local programs
Access additional resources, such as job announcements and newsletters
Get jobs/clients
Recruit employees/consultants
Support of the IMA Member
CHAPTER PROFESSIONAL EDUCATION PROGRAMS
Chapter Professional Educational Programs are a combination of educational,
networking, and social activities for members. Through presentations by local
speakers, members are kept abreast of the latest developments and applications in
the management accounting field. Through informal discussions with their peers,
members can share work experiences or problems and receive instant feedback or
solutions they can use on their jobs. These educational exchanges are excellent tools
for members’ self-development.
These meetings are organized at the local level and are attended by members within
close geographic range. The smaller size of these meetings promotes a free flow of
ideas and permits tailoring of the technical presentation to the needs of a particular
group.
Support of the IMA Member
NETWORKING ACTIVITIES
Networking Activities afford members the chance to make new friends and socialize
with their peers in a relaxed, informal atmosphere. This setting can lead to mutual
help - one member’s experience provides the answer to another’s problem - and
promotes an easier exchange of ideas among members in different areas of the
accounting field.
Support of the IMA Member
LEADERSHIP TRAINING
Leadership Training is an often overlooked benefit of chapter participation. Participation
in chapter leadership activities - open to all members - has been called “the best
management training.” Service on the chapter board of directors gives a member
experience in all phases of management leadership from budgeting to sales to
detailed execution and supervision.
Support of the IMA Member
MENTORING
Mentoring is an extremely important component of any professional association. A
mentor is an individual always more experienced who helps and guides another
individual’s development. This guidance is not done for personal gain. One of the
most valuable assets your career can have is a good mentor. Once you have been
mentored yourself, the responsibility to become a mentor to others is passed along.
This forms a cascading benefit to those following after you. Young professionals and
students are looking for this guidance from professionals who share the same career
path.
Support of the IMA Member
COMMUNITY SERVICE
Community Service programs are conducted by many chapters to guide proprietors of
new and struggling small businesses and to participate in local civic service
endeavors. These programs offer members a way to contribute to their own
communities in an organized and effective manner while practicing and developing
their own management skills. These services are often provided free to the recipients,
but provide value to all involved.
Support of the IMA Member
PUBLICATION
Authorship of articles for publication in Strategic Finance and Management Accounting
Quarterly is a valuable technique for self-development as well as a way of making
members’ knowledge available to others.