PSB Academy and Institute of Management Accountants launch preparatory course to groom finance professionals for leadership

SINGAPORE - Media OutReach - 7 April 2017 - PSB Academy is the first private education institution to partner the Institute of Management Accountants (IMA) to offer finance professionals and accountants a preparatory course for the Certified Management Accountant (CMA) credential, which demonstrates a mastery of management accounting knowledge and skills.

Photo: PSB Academy Executive Chairman Viva Sinniah, PSB Academy CEO Derrick Chang, John Wiley & Sons Regional Business Development Manager Kim Teo and IMA CEO and President Jeffrey Thomson mark the launch of PSB Academy's CMA Preparatory Course for aspiring leaders in finance at the institution's City Campus.  

Launched yesterday at a signing ceremony in PSB Academy's new City Campus at Marina Square, the course has been designed to create a pathway for undergraduate students in finance, as well as entry- to mid-level professionals, to assume roles in leadership, management and strategic development.

As part of the collaboration, students enrolled in the preparatory course through PSB Academy will have access to content and test preparation materials from Wiley & Sons. PSB Academy's faculty will also be able to access Wiley's suite of teaching materials, resources and journals. Core modules in the preparatory course will help students understand management frameworks, as well as look into decision analysis and investment decisions involved in critical internal financial management responsibilities, like planning, budgeting, business reporting, decision analysis, and risk management.

These critical skills in management will set the CMA credential apart from the endorsement of financial accounting skills usually offered by accrediting bodies like ACCA and CPA, and fuel the demand for more strategic leaders in finance and accounting amidst the fintech-driven disruption in the finance and insurance services sector--one of Singapore's biggest growth drivers in terms of GDP.

"We value the importance of continuing education and professional development in a time of uncertainty and volatility in the new economy, and want to continue to provide the right pathways for workers across sectors to up-skill, and re-skill, in relevant ways that would help them to lead in the future economy. Our partnership with IMA aims to prepare a new generation of thinkers, and not just bean counters, with the necessary competencies for positions essential to creating new value chains for a more resilient finance industry," says Derrick Chang, CEO, PSB Academy.

The over 50,000 CMA holders today play important roles globally in various organizations, such as SOEs (State-Owned Enterprise), MNCs, private companies, professional firms, academic institutions, and NGOs.Some of the leading companies which employ and promote CMAs are Johnson & Johnson, IBM, Novartis, Philips, Caterpillar, Holcim, Booking.com, Procter & Gamble, Nestle, UBS, Credit Suisse, Deloitte, PWC, KPMG, and United Nations, amongst others. The latest figures in IMA's 2016 Global Salary Survey show that salaries of those holding the CMA continue to be significantly higher than those of non-CMAs. Globally, CMAs earn 45% more in median salary and 50% more in median total compensation than non-CMAs¹.

"We are proud to partner with Singapore's best private education institution (2016, Business Excellence Research Group) to deliver the preparatory course for the CMA credential. As one of the largest and most respected associations focused exclusively on advancing the management accounting profession, we are confident the course will empower aspiring leaders in finance with the latest skills and tools required to excel in the present competitive market. Results from our global salary survey suggest that many individuals who have earned the CMA are reaping the rewards of their effort and dedication to professional development," says Jeffrey Thomson, CMA, CEO and President, IMA.

Registration for the August 2017 intake of the CMA Preparatory Course is now open. For more course details, please contact Calvin Tan at Calvin.Tan@psb-academy.edu.sg.

¹Full report of IMA's 2016 Global Salary Survey:http://sfmagazine.com/post-entry/march-2017-imas-2016-global-salary-survey/

About PSB Academy

Productivity is at the heart of PSB Academy. Once known as Singapore's Productivity and Standards Board, PSB Academy is known today as "The Future Academy", with an approach to education that focuses on what really matters: performance in the real-world.

In 2016, The Academy was conferred "Best private education institution in Singapore" by the Business Excellence and Research Group, and "Best private institution" for Engineering at the JobsCentral Learning T.E.D Awards. It hosts over 11,000 local and international students in its slate of certificate, diploma, degree and postgraduate programmes every year.

PSB Academy voluntarily commissions reputable external research firms to conduct graduate employment surveys as one of several key measures of graduate outcomes. In 2015, idstats research consultancy found that around nine in 10 local/ international students found perm/ temp employment within six months of graduation; six in 10 benefitted from pay raises and/or career progression; and that graduates took 2.1 months on average to find employment.

PSB Academy is situated at two campuses in Singapore: PSB Academy Delta and PSB Academy City Campus at Marina Square. Learn more at: www.psb-academy.edu.sg.