History of The Society
The mission of the Society has closely tracked the evolution from cost accounting to management accounting in Canada, and its distinction from financial accounting:
- 1920 - Incorporation of The Canadian Society of Cost Accountants, with head office in Hamilton, Ontario
- 1926 - Introduction of Cost and Management, the predecessor of CMA Magazine
- 1930 - Name changed to The Canadian Society of Cost Accountants and Industrial Engineers
- 1941 - Formation of provincial societies in Ontario and Quebec, with the power to grant the newly established professional designation of Registered Industrial Accountant ("RIA")
- 1948 - Name changed to Society of Industrial and Cost Accountants of Canada
- 1968 - Name changed to The Society of Industrial Accountants of Canada
- 1977 - Name changed to The Society of Management Accountants of Canada
- 1985 - Introduction of the professional designation of Certified Management Accountant ("CMA"), with existing RIAs being grandfathered in
- 2004 - CMA is registered as a trademark by CMA Canada
- 2006 - Certified Management Accountant is registered as a trademark by CMA Canada
- 2007 - Incorporation of the CMA Canada Research Foundation
- 2009 - Introduction of The National Standard for Public Accounting for Certified Management Accountants to govern the affairs of CMAs that have entered into public practice
A merger was proposed between the Canadian Institute of Chartered Accountants and CMA Canada in 2004, but it did not go beyond exploratory talks. Discussions began again in mid-2011, which later expanded to include CGA Canada. A merger proposal is currently being discussed at the provincial level of all three organizations for the creation of a national accounting body that would issue the professional designation of Chartered Professional Accountant.
Read more about this topic: Certified Management Accountants Of Canada
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