The IMA (Institute of Management Accountants) has expressed concern regarding the proposed changes from AICPA and NASBA to the curricula for accounting majors that pursue a CPA track.
The briefing expresses IMA’s “concerns” regarding the “negative impact” dropping managerial/cost accounting from the required curriculum for CPAs proposed in the ‘CPA Evolution model’ “will have on the ability of the accounting profession to protect the public and serve the public interest”.
The feedback is authored by Raef Lawson, IMA vice president of research and policy and professor-in-residence; and Roopa Venkatesh, chair of IMA’s Committee of Academic Relations.
Now, IMA has asked AICPA and NASBA to “publicly commit” to the importance of management accounting curricula and competencies and is “open to joining them in this effort”.
Lawson and Venkatesh, said: “The challenges that CPAs will have to answer important cost-based questions will only increase as technology transforms business models and the CPA profession,”
“The ability of the CPA to serve as a trusted business advisor must include an effective grasp of cost systems, behavior, and causality, which can only be most directly gained in management accounting courses.”