CGMA launch focuses on nonfinancial value, long-term business strategies

By Ken Tysiac

A panel of executives meeting in the finance capitals of New York City and London discussed new research Tuesday on the importance of the human dimension and nonfinancial value in long-term business strategies.

The event, hosted by the AICPA and the Chartered Institute of Management Accountants (CIMA), was part of the launch of the organizations’ global designation.

The finance executives joined one another by satellite to mark the debut of the Chartered Global Management Accountant (CGMA) designation. At least 2,200 people worldwide followed the panel discussion via a live webcast. 

“Today’s announcement of the new CGMA is the culmination of a longstanding effort to help companies experience maximum integration between financial and nonfinancial information to drive a business’s growth, and to include that information in the financial reporting process,” AICPA President and CEO Barry Melancon, CPA, CGMA, said at the launch. “CGMAs will accomplish that by managing change, risk and uncertainty; promoting operational efficiency and effectiveness; and protecting corporate assets.”

The transatlantic panel discussed new research commissioned by the AICPA and CIMA and led by Oxford Economics. The research in Rebooting Business: Valuing the Human Dimension digs deeply into some of the issues CEOs and management accountants face in growing businesses.

Panelists discussed measuring nonfinancial value and the human dimension of organizations; the focus on short-term financial results versus long-term sustainability; the value of transparency; and working in collaboration to understand where value exists in a company to drive successful results.

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