Brigham Young University received the Institute of Certified Management Accountants Board of Regents Corporate Recognition Award for the university’s long-time support of the certified management accountant (CMA) program.
Each year, the institute identifies one organization that supports its employees or students in their pursuit of the CMA certification. BYU is the first university to earn the award.
“BYU Marriott faculty and student leaders were excited when we received the news,” says Monte Swain, professor of accountancy. “We weren’t anticipating this at all because no university has ever received the recognition, but it’s not extremely surprising because BYU students have unbelievable success taking this exam.”
The number of students who take the CMA exam has increased to approximately fifty students each year, more than any other US university. BYU’s 80 percent pass rate far exceeds the national average of 50 percent. In the past five years, three BYU students have received the highest student exam scores for their testing window.
According to Swain, all efforts to prepare students for the two-part exam are student-led initiatives, as the university has no formal training program or preparation course in place. Formed by students in 2012, the BYU chapter of the Institute of Management Accountants (IMA) helps students prepare for the exam by hosting speaker events, information sessions, and student-led study groups. Students also arrange for study materials to be made available at the campus library to alleviate some of the costs of the exam.
“They have established a powerful community of students working together and supporting each other to take this exam,” Swain says. “Professionals, not students, typically take the CMA exam, but BYU has flipped the script. Students are coming out of BYU with a professional certification behind their names, which will open doors for them.”
On 17 June, the award was presented at the IMA Annual Conference & Expo held in Indianapolis. Parker Davis, a 2015 accounting graduate and former IMA student chapter officer, accepted the award on behalf of his alma mater.
“I was honored to accept the award on behalf of BYU,” Davis says. “BYU has made a commitment to support the IMA and the CMA certification, which allows students to further distinguish themselves as they enter the workplace. I am grateful for my education and the opportunities it has provided.”
BYU joins Hormel, Johnson & Johnson, Kimball International, and Lafarge North America as recipients of the recognition award. The IMA previously endorsed the university for its excellence in management accounting education in 2014.
The BYU Marriott School of Business prepares men and women of faith, character, and professional ability for positions of leadership throughout the world. Named for benefactors J. Willard and Alice S. Marriott, the school is located at Brigham Young University, the largest privately owned, church-sponsored university in the United States. BYU Marriott has four graduate and ten undergraduate programs with an enrollment of approximately 3,300 students.
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Writer: Maggie Kuta