The Faculty of Business celebrated another significant accomplishment with the Society of Management Accountants on March 3 when it officially signed the MBA/CMA agreement. This new partnership will make it easier for MBA students to earn the CMA designation.

The process of earning the CMA designation normally includes an entrance exam, the CMA strategic leadership program and the CMA case exam, but the MBA/CMA program will allow qualified students to be exempt from certain courses in the CMA strategic leadership program if they successfully complete an MBA course in that area. The requirements for entry into the MBA program remain the same.

The CMA designation is internationally recognized as a high standard for managerial accounting. This designation, combined with an MBA degree will make graduates highly competitive in the working world.

Mark Bradbury is the executive director of the Society of Management Accountants of Newfoundland. He says the MBA/CMA is a one-two punch of prestigious credentials. “We’re really proud to be partnering with Memorial on this program. I’ve already received a number of inquiries from students who are extremely interested in earning a well-respected MBA degree and their professional CMA designation at the same time,” he said. This new program is available to current and prospective MBA students, provided they meet the MBA admission requirements and the requirements of the Society of Management Accountants.

Dr. Gary Gorman, dean of the Faculty of Business says this is an excellent opportunity for students. “A number of our students have gone on to do both the MBA and CMA, and this new program will make it much easier for them to do so,” he said. “Our relationship with the Society of Management Accountants of Newfoundland has created many exceptional opportunities for students, and the MBA/CMA is key among them.”

Just last spring, the faculty announced a $350,000 investment by the Society of Management Accountants of Newfoundland that provided scholarships and support for student activities like SIFE Memorial, the CMA student society and Business Day and also created the CMA Professor of Accounting.