PSB Academy and Institute of Management Accountants launch preparatory course to groom finance professionals for leadership

PSB Academy is the first private education institution to partner the Institute of Management Accountants (IMA) to offer finance professionals and accountants a preparatory course for the Certified Management Accountant (CMA) credential, which demonstrates a mastery of management accounting knowledge and skills.
Launched yesterday at a signing ceremony in PSB Academy’s new City Campus at Marina Square, the course has been designed to create a pathway for undergraduate students in finance, as well as entry- to mid-level professionals, to assume roles in leadership, management and strategic development. 
As part of the collaboration, students enrolled in the preparatory course through PSB Academy will have access to content and test preparation materials from Wiley & Sons. PSB Academy’s faculty will also be able to access Wiley’s suite of teaching materials, resources and journals. Core modules in the preparatory course will help students understand management frameworks, as well as look into decision analysis and investment decisions involved in critical internal financial management responsibilities, like planning, budgeting, business reporting, decision analysis, and risk management.
These critical skills in management will set the CMA credential apart from the endorsement of financial accounting skills usually offered by accrediting bodies like ACCA and CPA, and fuel the demand for more strategic leaders in finance and accounting amidst the fintech-driven disruption in the finance and insurance services sector–one of Singapore’s biggest growth drivers in terms of GDP.
“We value the importance of continuing education and professional development in a time of uncertainty and volatility in the new economy, and want to continue to provide the right pathways for workers across sectors to up-skill, and re-skill, in relevant ways that would help them to lead in the future economy. Our partnership with IMA aims to prepare a new generation of thinkers, and not just bean counters, with the necessary competencies for positions essential to creating new value chains for a more resilient finance industry,” says Derrick Chang, CEO, PSB Academy.
The over 50,000 CMA holders today play important roles globally in various organizations, such as SOEs (State-Owned Enterprise), MNCs, private companies, professional firms, academic institutions, and NGOs. Some of the leading companies which employ and promote CMAs are Johnson & Johnson, IBM, Novartis, Philips, Caterpillar, Holcim, Booking.com, Procter & Gamble, Nestle, UBS, Credit Suisse, Deloitte, PWC, KPMG, and United Nations, amongst others. The latest figures in IMA’s 2016 Global Salary Survey show that salaries of those holding the CMA continue to be significantly higher than those of non-CMAs. Globally, CMAs earn 45% more in median salary and 50% more in median total compensation than non-CMAs¹.