The GMA Conversion Program is open to any graduate or professional in any discipline to obtain the prerequisites to undertake the Certified Management Accountant (CMA) Preparatory Program. Those having an Advanced Diploma in Accounting are also eligible to enter the GMA Conversion Program.

The program consists of 4 units (taught at the Honours/Masters level):

• Financial Management
• Financial Statement Analysis
• Financial Modelling
• Managerial Accounting

Entry requirements:

Students should have a degree or a professional qualification in any discipline or an Advanced Diploma in Accounting OR have at least 10 years in a senior position in accounting or finance.

Those with partially completed non-accounting degrees or professional qualifications may enrol in the Graduate Conversion program and undertake the four conversion subjects but will only be awarded the GMA certification on the completion of their degree or equivalent professional qualification.

On completion of the GMA Conversion Programme, a student member can apply for Graduate Management Accountant (GMA) membership of ICMA without experience. Students require either completion of the CMA preparatory program or 3 years of relevant experience to obtain the Associate Management Accountant (AMA) membership of ICMA.

Alternatively, on completion of the GMA Conversion Programme, a student member can directly enrol in the Certified Management Accountant (CMA) preparatory programme.

Recognised Prior Learning

Recognition will be given by ICMA for students who have successfully completed these subjects (or equivalent) at any recognised university or recognised professional accounting body, such as CA, CIMA, ACCA, and CPA.

Where to Study?

Students can undertake these subjects (or equivalent) at any recognised university that allows single-semester study, or via ICMA Recognised Provider Institutions or Online.

Cost per subject?

These costs vary by university and/or Recognised Provider. The fee charged by ICMA’s Online provider is A$500 per subject (a 50% discount is given with a discount code obtained from a Recognised provider). To enrol online, go to the link below.

Syllabus

Financial Management

Objectives: On completion of this subject, students should be able to apply capital budgeting principles and techniques to investment proposals in order to facilitate optimum decision-making, understand the risk/return trade-off inherent in portfolio analysis and selection; understand how to apply techniques suitable for valuing various debt and equity securities; examine and evaluate empirical research relating to the optimum financial structure of the firm; understand the nature, purpose and limitations of financial ratios and other data to evaluate performance and credit risks; examine and understand empirical research relating to the concept of market efficiency; and examine and evaluate empirical research relating to the optimum dividend policy of the firm.

Synopsis:

• Find, use, and manage funds in different organisations.
• Select and evaluate techniques used in treasury management and investment decision-making.
• Analyse the changing, competitive business environment in order to formulate financial strategy

Financial Statement Analysis

Objectives: This subject seeks to describe and explain the properties of financial statement numbers, the key aspects of decisions that use financial statement information, and the features of the environment in which these decisions are made.

Synopsis:

• Understand the demand and supply forces of corporate financial disclosure.
• Apply analytical techniques such as common-sized statements and ratio analysis.
• Consider accounting method choice on accounting numbers.
• Undertake correlational and cross-sectional analysis of Financial Statements.
• Consider the impact of time-series properties of financial statement numbers.

Financial Modelling

Objectives: On completion of this subject students should be able to appreciate the role of computers in analysing the financial activities of a business and in decision support; appreciate the problems involved in the implementation of computerised financial models and spreadsheets; recognise the ways in which computer-based financial models may be used by management and evaluate commercially available financial modelling software.

Synopsis:

• Apply cost accounting principles and techniques to models in all kinds of organisations.
• Analyse and critically evaluate information for cost determination, planning, control, and decision-making.
• Model and interpret cost accounting and other financial statements.

Managerial Accounting

Objectives: On completion of this subject, students should be able to understand the decision-making requirements and the information needs of management; apply management accounting principles and techniques to a wide range of situations in both service and manufacturing industries; appreciate recent developments in the theory and practice of management accounting, control systems; and appreciate the developments in information technology in relation to the provision of management accounting information.

Synopsis:

• Select and utilise control systems which provide management control of the organisation.
• Provide management with appropriate information for control, assessing and reporting on performance, monitoring efficiency, effectiveness and value for money.
• Evaluate and audit the relevance of management information systems (including information technology systems)
• Advise management on the use of these systems and on issues of personal or corporate conduct.

Assessments

The ICMA examines all students undertaking a course/subject at an ICMA Recognised Provider Institution:

Marks Awarded

1. Learning Assignments (done for feedback purposes only) 0%
2. Final Assessment: Examination and/or Assignment 100%

Total 100%

A student must obtain a 50% pass grade in the final assessment to pass the subject. Students obtaining less than 50% in the final assessment would Fail the subject