Golden West Council Continuing Professional Education; Chapter Support of the IMA Member

1. Golden West CouncilContinuing Professional Education;Chapter Support of the IMA Member October 30, 2010 Facilitated by: LuAnn M. Klann, CMA

2. Objectives • Continuing Professional Education • Understanding the criteria • Reporting • Chapter Support of the IMA Member • Benefits of IMA Membership • Purpose of the Chapter and Council

3. Continuing Professional Education WHAT IS CPE? CPE, or Continuing Professional Education, is a program designed to keep accountants abreast of current trends and newsworthy items. Accounting professionals who hold Certifications are required to obtain a certain number of CPE credits per year to remain licensed.

4. HOW DOES ONE GET CPE? Seminars CPE credits can be earned by attending seminars conducted by professionals in the industry. The topics can vary greatly; however, they will have something to do with accounting or other financial topics. Online Learning CPA credit can also be earned online as part of an interactive learning unit. Several organizations offer online CPE credits that can fulfill annual CPE requirements. College Many colleges offer courses that can count toward the fulfillment of CPE requirements. These are generally offered as evening or weekend courses to accommodate work schedules. Reporting CMAs are required to report their CPE credits to the IMA to ensure that the CMA License is renewed. For IMA Events, the Global Organization, the Regional Council, and the Local Chapter will report the CPE for the IMA Member. Continuing Professional Education

5. Continuing Professional Education • Equivalent IMA CPE • Must be IMA-conducted, sponsored or co-sponsored with another organization (co-sponsorship requires significant involvement by IMA). • Topic must be relevant to management accounting. • Education may be at local, regional, or national level, but does not include student chapter meetings. • All chapter membership types are counted equally for CPE. • Credit for attendance is given to the attendee’s home chapter, regardless of the location of the program. • Chapters sponsoring the program can also count attendance for: • Members-at-Large • Members from Chapters not meeting minimum requirements for Compensation and Competition • I Hour of CPE = 50 Minutes of Instruction; ½ Hour of CPE = 25 Minutes of Instruction; Criteria of less than ½ Hour not applicable and rounding up does not pertain.

6. Continuing Professional Education • Examples of CPE Calculation • Dinner Technical Meeting • 6:00 Check-In & Networking; 6:30 Dinner; 7:15 Speaker; 8:30 AnnouncementsEquivalent = CPE 1.5 Hours (75 minutes/50 minutes per hour CPE) • Saturday Technical Event • 8:45 Check-In & Networking; 9:00 to 1:00 (4-50 Minute Sessions with 2-20 Minute Breaks); Equivalent = CPE 4:0 Hours • Incorrect Calculation of CPE • 6:15 Check-In & Networking; 6:45 Dinner; 7:15 Speaker; 8:00 Break and Chapter Announcements; 8:20 Speaker (Con’t); 9:20 Close of Meeting • Advertised as 3.0 Hours of CPE: actually = 2.0 Hours of Equivalent CPE (45 + 60 minutes = 100 minutes/50 minutes per hour CPE)

7. Continuing Professional Education • CONTINUING PROFESSIONAL EDUCATIONAL GUIDELINES • To assist in meeting the requirements for qualified programs, the following guidelines are recommended: • Attendance should be maintained by the chapter for five years (preferably in the permanent records of the Chapter Secretary) Chapter Operations Manual - 44 • Programs must be presented in units of at least one class hour (minimum of 50 minutes constituting one class hour). • Programs must be conducted by a qualified instructor or discussion leader. Programs should be relevant to accounting. • A written outline of the program should be retained by the chapter for five years (preferably in the permanent records of the Chapter Secretary). • Participant evaluation forms should be retained by the chapter for five years. • A certificate of attendance should be given to each participant, including the recommended continuing education hours.

8. Continuing Professional Education • BENEFITS TO CHAPTER • To qualify for competition and compensation, CPE must be earned from events that are IMA conducted, sponsored, or co-sponsored. Co-sponsorship requires significant involvement by IMA. • Chapter earns 1 CPE for each CPE hour earned by its members. Chapter is paid $.60 for each CPE earned. • Note: Chapter does not receive credit for CMA self-study.

9. Support of the IMA Member • BUSINESS CREED • IMA members are today's leaders, managers, and decision makers in management accounting and financial management. • As members, we are dedicated to continued professional development, to achieving the highest levels of professional certification, and to supporting each other in our commitment to professional excellence.

10. Support of the IMA Member • WHAT WE OFFER • With a network of about 60,000 professionals, IMA provides a dynamic forum for management accounting and financial professionals to develop and advance their careers through its Certified Management Accountant (CMA®) program, cutting-edge professional research and practice development education, networking, and the advocacy of the highest ethical and professional practices.

11. Support of the IMA Member • Benefits of Chapter Membership • Network with peers in the industry • Be part of an effective and common voice to develop and protect the interests of the profession • Stay on top of trends that affect the industry in your market • Take advantage of local professional development opportunities • Socialize with industry insiders • Take advantage of discounts to dynamic and educational local programs • Access additional resources, such as job announcements and newsletters • Get jobs/clients • Recruit employees/consultants

12. Support of the IMA Member • CHAPTER PROFESSIONAL EDUCATION PROGRAMS • Chapter Professional Educational Programs are a combination of educational, networking, and social activities for members. Through presentations by local speakers, members are kept abreast of the latest developments and applications in the management accounting field. Through informal discussions with their peers, members can share work experiences or problems and receive instant feedback or solutions they can use on their jobs. These educational exchanges are excellent tools for members’ self-development. These meetings are organized at the local level and are attended by members within close geographic range. The smaller size of these meetings promotes a free flow of ideas and permits tailoring of the technical presentation to the needs of a particular group.

13. Support of the IMA Member • NETWORKING ACTIVITIES • Networking Activities afford members the chance to make new friends and socialize with their peers in a relaxed, informal atmosphere. This setting can lead to mutual help - one member’s experience provides the answer to another’s problem - and promotes an easier exchange of ideas among members in different areas of the accounting field.

14. Support of the IMA Member • LEADERSHIP TRAINING • Leadership Training is an often overlooked benefit of chapter participation. Participation in chapter leadership activities - open to all members - has been called “the best management training.” Service on the chapter board of directors gives a member experience in all phases of management leadership from budgeting to sales to detailed execution and supervision.

15. Support of the IMA Member • MENTORING • Mentoring is an extremely important component of any professional association. A mentor is an individual always more experienced who helps and guides another individual’s development. This guidance is not done for personal gain. One of the most valuable assets your career can have is a good mentor. Once you have been mentored yourself, the responsibility to become a mentor to others is passed along. This forms a cascading benefit to those following after you. Young professionals and students are looking for this guidance from professionals who share the same career path.

16. Support of the IMA Member • COMMUNITY SERVICE • Community Service programs are conducted by many chapters to guide proprietors of new and struggling small businesses and to participate in local civic service endeavors. These programs offer members a way to contribute to their own communities in an organized and effective manner while practicing and developing their own management skills. These services are often provided free to the recipients, but provide value to all involved.

17. Support of the IMA Member • PUBLICATION • Authorship of articles for publication in Strategic Finance and Management Accounting Quarterly is a valuable technique for self-development as well as a way of making members’ knowledge available to others.