A UST ACCOUNTANCY alumna topped the May to June 2023 cycle of the certified management accounting (CMA) examinations, an internationally recognized certification test for management accountants.
Shannen Jagwani, who graduated cum laude from the UST-Alfredo M. Velayo College of Accountancy in 2022, earned the highest mark worldwide in the latest CMA exam cycle.
“I believe that merely passing the CMA would open a lot of opportunities for me as well as [for] my co-passers,” Jagwani told the Varsitarian. “Opportunities that would allow us to broaden our knowledge and capabilities and to practice our learnings and skills not only in our country but also [globally].”
Jagwani was awarded the Priscilla S. Payne Outstanding Student Performance award for topping the CMA exams.
Grace Lui of De La Salle University and Shania Lozano of Mindanao State University – Iligan Institute of Technology ranked second and fourth worldwide, respectively.
Jagwani passed the licensure examinations for certified public accountants (CPA) in October 2022.
Unlike the Philippine Regulation Commission-sanctioned CPA boards, the CMA certification is recognized globally, allowing its passers to pursue accounting abroad.
The CMA exams consist of two parts and have a 50-percent passing rate globally.
It evaluates examinees based on 12 competencies:
- External financial reporting decisions
- Planning, budgeting, and forecasting
- Performance management
- Cost management
- Internal controls
- Technology and analytics
- Financial statement analysis
- Corporate finance
- Decision analysis
- Risk management
- Investment decisions
- Professional ethics
Results of the CMA exams are not released to the public.
It is administered by the Institute of Management Accountants, a worldwide association of over 140,000 accountants.
The May to June 2023 cycle of the CMA exams was conducted on May 22 and June 20 at the Ateneo de Manila University for examinees in the Philippines.
