Battle of the BIG 4s

WHAT   :               Battle of the Big 4s (CMA Quiz Bowl)

WHO     :               Big 4 Auditors (2 Years as such by competition day)

WHEN   :               0800 HRS on June 25, 2016

WHERE :               Makati

 

Calling all CPAs who are currently employed by any of the Big 4 firms in the Philippines for at least two years as at date of competition (i.e. June 25, 2016). You are invited to participate and represent your audit firm to the first-ever BATTLE OF THE BIG 4s CMA (Certified Management Accountant) Quiz Bowl happening this June.

The Institute of Management Accountants, or the IMA®, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. It is a leading advocate for aligning accounting curriculum and continuing education with the complex business needs of today’s organizations. Towards the end of 2015, IMA membership has reached more than 85,000 worldwide. To date, the total number of active CMAs is close to 30,000. For the current fiscal year ICMA is poised to award more than 3,000 CMA certificates so far by the Fiscal Year ending June 2016, and more than 9,000 new candidates have joined the CMA Program this year.

The purpose of having this competition is to generate awareness among top Filipino CPAs who continue to develop world-class skills as accounting professionals on the value of earning a globally recognized accounting certificate, i.e. the CMA credential.  Around the world, CMAs earn about one-third more than their noncertified peers, according to IMA’s International Salary Survey. In the U.S., CMAs earn an average of 31% more in salary and 36% more in total compensation than those without certification. Despite the many economic factors beyond one’s control, accountants can achieve career advancement and earning potential through certification.

Evidenced by international employers’ preference on professionals holding the CMA title, the management accounting profession continues to evolve to meet the ever dynamic demands of business. Globalization necessitates that professional development in the Philippines must not be confined in preparing our professionals for local businesses but in the international business setting as well.

The Battle of the BIG 4s will simulate the CMA examination to be completed over four hours. It will contain 100 multiple-choice questions and 2 essay questions. Candidates will have three hours to complete the multiple-choice questions and one hour to complete the essay section.

For the essay questions, both written and quantitative responses will be required. Candidates will be expected to present written answers that are responsive to the question asked, presented in a logical manner, and demonstrate an appropriate understanding of the subject matter.

The topical areas covered in this competition are the following:

  • External Financial Reporting Decisions
  • Planning, Budgeting and Forecasting
  • Performance Management
  • Cost Management
  • Internal Control
  • Financial Statement Analysis
  • Corporate Finance
  • Decision Analysis
  • Risk Management
  • Investment Decisions
  • Professional Ethics

PRIZES:

The top performers of the competition will win the following:

Gold medal winner – Full CMA program scholarship worth US$2,250

Silver medal winner – Partial scholarship (discount of 50% of the program fee)

Bronze medal winner – Partial scholarship (discount of 30% of the program fee)

4th and 5th placers – IMA professional membership fee worth US$245 each

ELIGIBILITY OF OTHER CPAs:

In case the registered participants in this competition do not reach the minimum of 60 CPAs, the organizers reserve the right to accept CPAs employed by the other big auditing firms to garner a total of 100 participants. Each Big 4 firm may send in as many as 25 participants to the competition.

DEADLINE and REGISTRATION REQUIREMENTS:

Registration shall be accepted from May 20th by submitting the following:

  1. Duly accomplished registration form
  2. Certificate of Employment duly signed by the HR Manager/Director of the Big 4 firm
  3. Copy of PRC ID
  4. Copy of TOR
  5. Copy of passport
  6. Professional profile photo

Registration will close on May 31st. If the number of participants does not reach the minimum required, other applications will be accepted until June 17.

RESULTS AND AWARDING OF PRIZES:

The results will be announced on or before the first week of July, 2015. The top three winners agree to take the 2-Part CMA examination in the Sept/Oct’16 exam window.

For more details, please contact us at big4cmaquizbowl@pinoycma.com. See you all at the competition!

CMA Passers