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Institute of Management Accountants

The Institute of Management Accountants (IMA), formerly known as the National Association of Cost Accountants (NACA), is a professional organization of accountants.

Not to be confused with Chartered Institute of Management Accountants.

Abbreviation

IMA

1919 (1919)

Buffalo, New York

Montvale, New Jersey, U.S.

140,000[1]

www.imanet.org

History[edit]

IMA was founded in 1919 in Buffalo, New York as the National Association of Cost Accountants, later changing its name to IMA in 1957. It has its headquarters in Montvale, New Jersey, United States, and regional offices in Americas, Asia/Pacific, Europe, and Middle East/India. In 1969, it formed the management accounting practices committee that was entrusted with the task of promoting management accounting as a core area of study in line with IMA views.[3] It had 12 members from several accounting bodies like FASB and other prominent accounting regulatory groups. The representatives of the MAP were recognized for their expertise in accounting. The committee later merged with Foundation for applied research, forming the MAC/FAR committee.[4][5]

1919: Founding of the National Association of Cost Accountants (NACA) in Buffalo, N.Y., forerunner of the IMA

1920: First chapter of NACA formed in Chicago / First NACA Annual Conference held in Atlantic City

1925: NACA Bulletin introduced

1935: Library established at NACA national office

1943: First international chapter chartered

1945: Research committee established

1949: NACA Bulletin became monthly publication

1957: NACA became National Association of Accountants (NAA)

1959: Student Publication Services inaugurated

1969: Management Accounting Practices Committee established

1972: Certified Management Accountant (CMA®) program created / The first Statement on Management Accounting (SMA), Concepts for Contract Costing, issued

1983: Standards of Ethical Conduct of Management Accountants, the first code of ethics for management accountants in the U.S., issued

1989: Financial Executive of the Year Award (FEYA) program established

1991: National Association of Accountants became the Institute of Management Accountants (IMA)

1992: IMA became a founding member of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), a private-sector organization dedicated to improving the quality of financial reporting

1994: IMA Foundation for Applied Research (FAR) formed for the advancement of management accounting

1996: IMA established the Certified Financial Manager (CFM®) program

1999: IMA relaunched and renamed its flagship magazine, Strategic Finance, which also became available online / Management Accounting Quarterly debuted Fall 1999

2000: First IMA Student Conference held in Colorado Springs

2006: First IMA Global Conference held in Dubai, UAE

2009: LinkUp IMA, exclusive online professional community, launched

[6]

2013: IMA became a member of [7]

IFAC

2015: IMA announced partnership with Wiley and Miles Education to offer CMA courses in India

[8]

2018: IMA hits 100,000th member mark

[9]

2019: IMA released a book title 100 years and counting - a history of institute of management accountants

[10]

2020: IMA released two reports on revenue management and profitability analytics during COVID-19

[11]

Journal[edit]

IMA publishes the quarterly academic journal Management Accounting Quarterly, focusing on corporate accounting and financial management. IMA also publishes the magazine Strategic Finance, an award winning publication that provides the latest information about practices and trends in finance and accounting.

Certified Management Accountant

Institute of Management Accountants

Management Accounting Quarterly

Strategic Finance Magazine