Magazine article Strategic Finance

Expert Testimony and the CMA

Magazine article Strategic Finance

Expert Testimony and the CMA

Article excerpt

When earning my degree in finance from Ohio State in 1953, I came across the National Association of Cost Accountants Bulletin, which began my relationship with what is now IMA[R] (Institute of Management Accountants). In 1957, I joined The Pillsbury Company in Minneapolis, Minn., and obtained my MBA at night. Pillsbury was beginning to introduce a direct cost system in its plants, and I quickly became a convert.

In 1967, I was recruited for a management consultant role with the Chicago office of Peat, Marwick, Mitchell & Co. (KPMG today) and realized that I needed to become a CPA (Certified Public Accountant) in order for the audit partners to trust me to work independently with their clients. I later sat for and passed the CPA examination.

I then read about what would come to be called the CMA[R] (Certified Management Accountant) certification, and I immediately enrolled in the program. I was among those who, in December 1972, sat for the first CMA exam. I ended up obtaining the CMA and CPA in the same year, during which I was also elected to the partnership. While the CPA exam tested my memorization skills, I thought the CMA exam was a better test of my reasoning capability.

I later served two terms on the ICMA[R] Board of Regents. And as a two-term member president of the Consortium for Advanced Management International (CAM-I), I met a number of outstanding professionals who shared my enthusiasm for management accounting. Of special note for my career were Robin Cooper (then at Harvard) and, through Robin, Robert Kaplan. …

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