Chartered Global Management Accountant (CGMA)

Chartered Global Management Accountant (CGMA)Chartered Global Management Accountant (CGMA)The Chartered Global Management Accountant designation is a recent joint offering of the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA). Launched in January 2012, the CGMA is supposed to indicate expertise in the areas of management accounting and management reporting, which apply accounting expertise to activities such as Performance measurementManagement decision supportCorporate strategyIdentifying business opportunitiesMaking investment decisionsRisk managementAsset protection Management accounting involves the collection, maintenance, analysis and application of both financial and non-financial data and metrics. The Sales Pitch In an inaugural press release, the AICPA offered five reasons why a CPA should consider adding a CGMA designation. According to a survey by the AICPA and the CIMA, 80% of CEOs would prefer a job candidate with a CGMA designation to one without it. Additionally, 75% replied that they would like existing financial personnel to obtain a CGMA.Because management accountants have a broad skill set and are trained to use measures of performance beyond purely financial ones, they can add unique value in organizations decision-making processes.CGMAs have above-average agility and adaptability, key qualities in rapidly changing business environments. As a global designation, CGMAs have the mobility to move to other departments within a company and around the world.The CGMA creates a path to so-called C-Suite positionsbecause holders have the skills to participate in critical business decisions. Critiques of the Sales Pitch The AICPAs sales pitch for the CGMA is subject to a number of critiques. Here are some, keyed to the reasons listed above. CEOs are far removed from the hiring decisions that will affect the vast majority of CGMAs. Also, few have accounting credentials or expe rtise in the fieldand are unlikely even to have heard of the CGMA before being surveyed. As a result, the value of this survey is highly questionable.Just because a given functional area is important, it does not necessarily follow that a new credential related to it is either necessary or valuable in itself. Moreover, it has yet to be proven that holders of a CGMA are any mora skilled, on average than experienced management accountants without one. Again, the CGMA is too new for anyone to judge whether its holders are any better, on average than other people in the field without it.Once more, given that the CGMA is new and largely unknown, it has no track record in promoting mobility.Given the newness of the CGMA, this is yet another unsubstantiated prediction not supported by fact. Furthermore, it should be noted that neither a CPA nor an extensive background in accounting typically is necessary to enter the fields of management accounting or management reporting. Rather, as is tr ue of many business and financial disciplines, on the job training is often the key to building expertise in these areas. Qualifications In order to receive the CGMA designation, one must first be either a voting member in good standing of the AICPA (that is, a CPA) or a member of the CIMA. Additionally, one must have at least three years experience in management accounting. For a CPA, this means meeting one of these four sets of extremum requirements Three years of experience in financial accounting, internal audit or management accounting, either in business or in governmentTwo years of experience in financial accounting, internal audit or management accounting, plus one year in public accountingThree years of financial or management accounting experience on a consulting basisThree years in the internal management accounting function of an accounting firm Starting in January 2015, an examination began being administered to applicants for the CGMA. Someone who is not a CPA but who obtains the CGMA may not present himself or herself as a CPA, which must be earned separately. Cost Being designated as a CGMA is free for members of the CIMA. For members of the AICPA, becoming a CGMA costs $150 per year. For members of both the AICPA and a state CPA society member, the fee is $100 per year.

Career Overview of a Racetrack Outrider

Career Overview of a Racetrack OutriderCareer Overview of a Racetrack OutriderRacetrack outriders are responsible for maintaining a safe environment at the track during morning workouts and live racing. Duties An outrider is responsible for ensuring the safety of all horse racing participants (both human and equine) during training and live racing. Outriders generally use their own personal horses to carry out their duties, and many have multiple mounts available to use throughout the day. Outriders are responsible for opening and closing the track each day, and clearing equine traffic when necessary so that harrowing and maintenance can be performed at designated intervals. They catch loose horses on the track as quickly as possible, minimizing the chance of an injury or the need for a late scratch, and bring them to the on-track veterinarian for evaluation. They also help riders who are having trouble with difficult horses, particularly when a horse tries to run away with its r ider. On race days, an outrider leads the post parade and escorts the winning horse and rennreiter back to the winners circle. Outriders are also tasked with enforcing the rules of the track and documenting violations, injuries, or cases of individuals engaging in unsafe riding. They are required to report these incidents back to the racing stewards. They also must make sure that all required safety equipment is in use (i.e., helmets and vests) by riders at all times. Outriders anticipate potential problems, communicate with each other and racing officials via radio, summon the ambulance for fallen riders, and assist with loading injured horses into the equine ambulance. The exact number of outriders can vary from one track to the next, but most facilities have at least two outriders on hand during morning workouts, and three or more on duty during live racing. Training centers also may have one or more outriders present during training hours. One will act as the lead outrider and coordinate with the assistants. The team of outriders makes sure that they are strategically placed to provide coverage throughout the track, with at least one outrider taking a position behind the starting flugsteig and one in front of it to ensure a fast response to any incidents. Outriders regularly interact with exercise riders, jockeys, trainers, stewards, and other racing personnel. They also interact with children and fans on the rail, posing for photos and letting them pet their horses while waiting for the action to begin. Outriders work outdoors in widely varying temperatures and changing weather conditions. They commonly work 5 to 6 days per week, and these hours may include weekends, evenings, early mornings, and holidays. Career Options Outrider positions are most frequently found at Thoroughbred racetracks and training centers, but opportunities may also be found working at tracks that cater to other racing breeds such as Quarter Horses and Arabians. Outriders may transition to a wide variety of roles in the racing industry such as exercise rider, trainer, foreman, bloodstock agent, and many other positions (both mounted and non-mounted). Education While no formal degree or occupational training is necessary to become an outrider, tracks often require candidates to be at least 18 years of age and in possession of a high school diploma or equivalent GED. They must also be licensed to perform the duties of an outrider by the state racing commission. Licensing generally involves being fingerprinted and paying a licensing fee, which ranges from as little as $15 in Ohio to $100 in Kentucky. Most successful applicants for outrider positions have extensive experience working with horses, especially in the racetrack environment. They commonly start out as hot walkers, exercise riders, or pony-to-post riders before advancing to the outrider team. It is critical that outriders have expert riding skills and an excellent working relationship with the horse that they are riding while completing their duties. A strong knowledge of equine behavior is also necessary, as this allows an outrider to anticipate problems before they occur or to predict what a loose horse will do while attempting to evade capture. Salary Compensation for outriders can vary widely based on the individuals level of responsibility, years of experience, and the geographic location in which the position is located. Outriders are usually paid on a salary basis by the track. Job Outlook Due to the relatively static number of tracks and racehorses competing in the United States, there will not be much of an increase in demand for outriders over the next decade. Some turnover can be expected, however, as current outriders retire or seek other roles in the racetrack hierarchy.

Heres why insomnia gets worse this time of year

Heres why insomnia gets worse this time of yearHeres why insomnia gets worse this time of yearIf you find yurself feeling a little bit off this time of year, or maybe are tossing and turning in bed more than usual and then waking up groggy, youre leid alone. The lack of sunlight were getting during the winter can really mess with ur hormone levels, especiallymelatonin, the sleep regulator, and can cause a case of the winter blues (which can range from simply feeling a bit down to full-blownseasonal affective disorder).Thats right - the feeling is not just in your imagination, and the fluctuation in hormones can have a real impact on your sleeping habits and sense of calmness. We asked sleep and mental health experts to further explain the connection betweeninsomniaand the winter months and the effect sleep has on our overall mood and energy.Keep reading for the tips and tricks you need to keep yoursleep scheduleon track and your well-being in check during what should be the most pea ceful season.Why insomnia happensOur bodies are designed to wake with the sunlight, and when the sun rises later and sets earlier, our circadian rhythms (the body clock that regulates our sleeping and waking and can even affect things like our mood andmenstrual cycle) can get out of whack.In winter, waking up when it is dark prevents our wake cycle from starting. Sunlight essentially triggers our wakefulness, which needs to complete its cycle before hormones that induce sleep (such as melatonin) can be released, explainsKatharina Lederle, a London-based doctor of human sleep physiology.Melatonin imbalances can cause depressive symptoms as well too much melatonin may be one of the culprits of seasonal affective disorder, saysNada Milosavljevic, a faculty member at Harvard Medical School and founder ofSage Tonic. While this may not cause insomnia, it may have similar after-effects a heavy layer of grogginess and the inability to engage with others as usual or stay energized throughout the day.On the opposite end of the spectrum, low melatonin levels are what can really keep you awake at night. And it may have something to do with all thatNetflixing and chillingyoure doing in bed during the chilly weather, multiple studies show. The blue, artificial light emitted from our favorite devices while binge-watching or scrolling through Instagram before going to sleep can really mess with our circadian rhythms, therefore disrupting disrupt our bodys sense of sleeping and waking, according to newresearch.More research has tied blue light even closer to insomnia. Researchers from theNational Sleep Foundationhave found that increased exposure toblue lightfrom people using electronic devices before bed causes a decrease in levels of melatonin in their bodies, making it harder to fall asleep and making them less alert in the morning, Milosavljevic says.However, melatonin isnt the only biological factor in sleep health during the winter. Because of the lack of sunlight, our v itamin D levels are also low this time of year, which can mess with sleep quality and quantity. Low levels of vitamin D are connected to lower sleep efficiency scores, saysCarolyn Dean, a medical doctor, naturopath, and member of the Medical Advisory Board for theNutritional Magnesium Association.This can mean it takes a long time to fall asleep or that sleep is restless and disrupted with many awakenings in the night, Dean says. Its important not to let your health fall by the wayside this time of year, especially when it comes to vital vitamins and minerals.The mineralmagnesiumis also crucial to sleep because it helps the body process both vitamin D and melatonin correctly. Magnesium also relieves the muscle tension that can prevent restful sleep, says Dean.Then, there are the usual winter habits you have, like bundling up in heavy pajamas and blankets and cranking up the heat in your home. This can actually disrupt your sleep, says Tara Youngblood, co-founder and Chief Scientist atKryo Inc.If our bodies are unable to lower our core temperature, as they are naturally programmed to do, we are unable to reach optimized Slow Wave Sleep and get the benefits of more deep sleep and better sleep density, she explains.Dont forget the poor diet and exercise habits you may have from the influx ofholiday partiesyoure attending, and the shopping, baking, and wrapping too. You may be feeling too sluggish to hit the gym when its cold and pitch-dark in the morning, but your eating habits play a major part also.Holiday foods are chock-full of sugar, dense carbohydrates, and fattening ingredients. Not only can these foods affect your appetite and metabolism, but they can also interfere with the balance of a hormone called leptin, which is known to influence our sleep cycle, Youngblood says. And, Youngblood adds, its high time for colds and the flu, which often cause sleep to be restless and interrupted.Dont blame sleeplessness on a stuffy nose or too many sugar cookies - yo u cant discount the stress of the holiday season or pressure to keep your list of resolutions either.It is likely that insomnia is further exacerbated by the financial, social, and familial stresses that often occur during and immediately after the festive period, Lederle adds. All the more reason to step back and give yourself the gift ofself-carethis time of year, no matter how many people are on your shopping list.How to fix your sleep habitsTo get yourself back on track after a stretch of insomnia, start by regulating your bedtime and wake up calls. Its best if your phone, alarm clock, or other blue light-filled devices are nowhere near your bed, Milosavljevic says. It may seem like the oldest trick in the book, but stashing electronics and alarm clocks across the room from where you sleep can force you up and out of bed to start the day.Sleeping habits can also improve when you take stock of the amount of vitamins and minerals youre putting into your body. Try a vitamin D and a magnesium supplement like magnesium citrate if youre struggling with sleep.Magnesium citrate powder is a highly absorbable form that can be mixed with hot or cold water and sipped in the evening and throughout the day for deep, restful sleep, Dean says.For more help drifting off to sleep, Youngblood says sleeping in cooler temperatures may help you fall asleep faster and can even give your metabolism a boost.Many other natural remedies can help prep the body to relax and wind down one of the bodys most instinctive is exercise. Even a moderate bedtimeyoga flowcan help your mind and body ease into sleep mode.A simple pose like childs pose can relax the body, ease muscle tension, and clear the mind from daily stresses that can impact a restful nights sleep, says Milosavljevic.To go along with that childs pose, use somelavender essential oilor sip on anherbal tea, particularly one containing lavender, valerian root, and dandelion root, all geared toward combatting sleeplessness and enc ouraging the body to rest, she adds. If you really need some coaching, ameditation appcan help, or some background sounds of white noise or nature sounds will have you in dreamland in no time.This article was originally published on Brit + Co.