Dreamer
Rommel Valente – CPA, CMA

“Dream, not because you need it but because you want it.”

These are the words that I always live by.

I still remember when I just finished High School; I wanted to become an Accountant someday like my parents who were both CPAs. So, I took the chance at the most well-known universities in the Philippines by taking their respective entrance examinations. I chose the University of Santo Tomas (UST) because my elder brother was also enrolled there taking up Electronics and Communications Engineering course.

My first year in college was fun and the least stressful of my 4-year stay at UST. I was full of determination in pursuing my dreams at that time. On my second year, my subjects became more challenging but I managed to pass them all with average grades.

Our College conducted a retention examination after the second year to determine the required quota in which selected number of students will be chosen to continue the Bachelor of Science in Accounting (BSA) degree in the third year. The selection was based on the score performance and those who will not be accommodated due to the quota requirement will be transferred to the BS Management Accounting degree.

To cut the long story short, I was not able to continue in the BSA program and was transferred to the BSMA program. Of course, I felt very sad and disappointed. Yesterday, I was full of big dreams then suddenly I started to lose interest on everything. I told myself that I’ll just finish the course then leave for the United States (U.S.) to look for a job and forget all my frustrations. I worked in the U.S. for one-and-a-half year.

One afternoon, while I was on lunch break at work, I was browsing something on Facebook when I saw the profile page of Insights Financial Review Services (Philippines). I read that they are offering a review program for the U.S. Certified Management Accountant (CMA) Certification.  I sent a message to inquire about the program and I was referred to Sir Angel V. Secerio, Jr., who was the Managing Director of Insights, and he provided me with all the important details that I should know about the program. Sir Angel was very nice and responsive to all my queries.

On my way home that day, I decided to go to a mountain-view area near our place. I just wanted to breathe some fresh air and think if going back to the Philippines for the CMA review will be worth it because this meant I have to resign from my job.

I decided to go back to the Philippines and pursue my dream.

The CMA review was not easy. From Monday to Friday, I started studying from 9am to 10pm at home. On Saturdays, I attended the review class and took the comprehensive examinations. Sundays were my only rest day.

Nervous and pressured at the same time, I kept having doubts if I would be able to pass the CMA 2-Part Exam. Luckily, I passed the examinations! It’s all because I worked hard and disciplined myself to be diligent on my studies. Above all, I know God answered my prayers and rewarded me for my hard work.

About the Author:

Rommel Valente, a BS Management Accounting graduate from University Of Santo Tomas (UST), was once a big CMA dreamer who currently resides in United States to fulfill his dreams of becoming a very successful professional so that he can repay all the sacrifices his family made for him.

Overcoming Challenges, Struggles and Road Blocks

Challenges, we all have a handful. Belonging to the working class presents so many challenges and to add up working on a night shift makes it almost impossible to accomplish anything. But this wasn’t my dream.

It has always been my goal to enrich myself with intangible things; empower myself with something that can’t be taken away from me. It is, perhaps, for such reason that I’m always fond of studying, reading or just experiencing things but this wasn’t always me. After graduating from college for more than a decade ago I took a chance on taking the CPA licensure exam but I wasn’t as fortunate as my colleagues. After failing the board exams I told to myself, I’ll just work myself to death and let time take its natural course.

Being an accounting graduate during that time with no impressive curriculum vitae and an “underboard” individual I don’t have much of an opportunity for growth for my career and I just watched as time went by. As the years added up I was contented with what I currently have and never thought of my future. Then one fine day I had a talk with my aunt. She encouraged me to take up my Master’s degree since I’ve given up on becoming a CPA. It took me 4.5 years to finish my masters at the Ateneo Graduate School of Business and it was during this time I saw the advantages of having “further” (post-graduate) studies. How new opportunities and career growth open up for you. Thus, my journey to seek new knowledge began.

After finishing my masters and several certificate/short courses I told myself, “what’s next”? What should I do next? My friends told me to give it a rest and enjoy what I currently have but I told to myself, I’m not stopping. I think it’s about time to face the CPA board exams. After consulting with several friends and assessing my current role it wouldn’t be an advantage to take the CPA board exams since I might not be able to practice it. Working in big auditing firms has been my dream but I’m on a different route now.

My friends suggested to me to take the CMA, CFA, CIA or CISA certification. After much deliberation I’ve decided I wanted to pursue the CMA certification since it made more sense with the work that I have. I’m dealing more on the ERP industry, project management, budgeting and forecasting software so this would be the right choice for me.

I then googled “CMA review Makati” since I don’t want to get too far away from Makati and I also work here I don’t want to go somewhere else. This was when I saw Insights Financial Review. After seeing their review center in Medical Towers which is just 2 blocks away from our office I did not hesitate to inquire that night through their website. In less than 12 hours I got a reply from Ma’am Ronie Paras and with the detailed program and quote. When I saw how much it would cost me I was taken aback. It entailed a huge investment. But this did not stop me. I remembered asking her “do you accept credit card payments?” Sir Angel then gave me an irresistible term. So in less than 3 days I ended up submitting all the required documents and paying for the tuition fee! Plus, I have a close friend/colleague with me who enrolled at the same time for the program.

This was when sleepless and social deprivation days and nights began. Classes during that time was on a weekend so this technically works for me. My shift starts at 8PM and ends up at 5AM which extends till 7-8AM so the game plan was to work, then attend class after. The grande brewed coffee at 711 across the center became an instant best friend. Never was a day that passed by without having it, so cheers to that! As weeks passed by the struggles were becoming real and imminent. Juggling work and review was really tough. I had to ensure I gave at least 3-4 hours every day just to study and catch up with the lecture. With classmates who were fresh graduates and young professionals (mostly CPAs) I felt the undue pressure not to be left out. I felt like an old dog who can’t learn new tricks! You see, MBA and CMA review are two different things so I lagged behind most of the time. But I also remember that as long as the dog is willing then it’ll learn.

So, in order to catch up I need to make some cuts… Movies, travelling, catching up with friends, and even my gym time was all gone! I had to give them all up since I’m not all that bright and needed some oil, it took a wee bit more time for me to really relearn and remember the lectures. Knowing the same struggles that my friend and I had gone through, Sir Angel was very generous in offering us a one-on-one session with Sir Leo Yatco and so we had review sessions during weekdays so we could catch up! There were instances where a decent sleep was nowhere to be found. But surprisingly we were able to adjust and gave us a better sense on what the lectures were (again super thank you, Sir Leo).

Took up the Part 1 exam on June and it was a nerve wracking one! The “screening” at the Prometric exam site was too intense I felt like I was going through immigration! After answering the multiple choice questions and clicking on SUBMIT, was the “longest seconds” of my life. After 5-7 seconds I saw a set of instructions in front of me and just did next, next, next without understanding if it was the essay section or the survey that I’m clinking next to. Luckily I passed the Part 1 exams so the same schedule was repeated. Same preparation and same sleepless days and nights for me. I then took the part 2 exams on the same year on October. I then told to myself this will be the best Christmas ever! Dec. 11 came with the results and I received an email… Sadly, I did not see any congratulatory remarks. I remember I was chatting with Sir Angel that time and he encouraged me to take it one more time, never give up and reminded me of my goal. On the same night while talking to Sir Angel, I registered for the February retake of the examination.

This time there were more sleepless days and nights and my friends almost never felt my presence. I was a prisoner of Hock, my study-buddy, my calculator and my desk. I kept on reminding myself that failures are just a test of how strong a person is, you will never know your strength unless you experience defeat. It is ok to stay down when you fall but get up and make sure to pick yourself up, keep it all together and stay focused. The release for the exams was due on April. I dare not ask this for my birthday gift but God was so generous that He finally gave me my heart’s desire.

At the end of the day I realized that it wasn’t all about the credentials and the position that we have that define our success. It is all about the hard work despite the road blocks, persistence in times of difficulty, perseverance in achieving our dream, humility in knowing when to accept help, being grateful to the people who help, and encourage people who need a little sunshine plus a whole lot of faith in God will not just define success but you as a person for God. All these were made clearer to me when I took my CMA journey. I’m forever thankful to my family for the support and friends for not leaving me. To my insights family especially to Sir Angel and Sir Leo for never giving up on me and to our professors, Sir Kenji, Sir Edison, Sir Eddie, Ma’am Christee, Sir Michael, Ma’am Miriam, Ms. Clarissa and Ms. Maricar.

About the author:

Paul Joseph B. Morales CMA, MBA, is a graduate from PSBA manila with a degree in BS Accountancy. He also obtained his Master’s in Business Administration at the Ateneo Graduate School of Business and is currently working as a senior customer care analyst in a large accounting/IT software company in Makati.

My CMA Quest
Naomi Q. Angulo – CPA, CMA

I was an Accountancy student at San Beda College. I barely made it in this course and never with the CPA board examinations.

And so life goes on, and fortunately for me I have found a job at one of the biggest real estate developers in the country. It was interesting at first. Eventually I got so used with my tasks that it became so routinary, it was no longer a challenge for me. I started consulting this with my friend. He was very supportive with my struggles at work and suggested that I take CMA exams if I’m really up for something challenging.

I have already heard of this CMA credential during undergrad, but I really had no idea where to start. I researched everywhere and asked a few colleagues about it, until I stumbled upon Insights Financial Review School’s website. At first I wasn’t even sure if I would really want to take this certification course since I lost my self-esteem the time that I failed in the CPA board examination. Except for my parents and few close friends, no one knew about my plan to take the CMA exam. I didn’t let our company know. I even asked my parents not to tell our relatives. I was really scared of failure and I didn’t want everyone to know in case what I’m so very afraid of come true.

Early this year, I took the Part 2 exam and received a bad news. I couldn’t even explain what I felt that time. It’s like that I was already expecting for an unfavorable result. Of course, I felt bad about myself for being a failure once again. Looking at my results frustrated me. I almost made it! I just missed it by a notch. But all my efforts wasn’t enough. I failed.

Honestly, I almost gave up. I was planning to stop taking part 1. I already told my parents that I didn’t want to continue with the review anymore. Frustration and depression really got me this time. But then, friends that I met at Insights inspired me to give it another shot.

It took a lot of pondering and courage to push this CMA dream. I got so tired and frustrated that I made an all or nothing deal with myself. By August 2016, either I should be a CMA or be contented with my current life. I was scheduled to take Part 1 for June. I convinced Sir Angel, our course mentor, to let me retake the Part 2 in May. He told me that it was an aggressive strategy. I attended special review classes just to prove that I was really serious in taking both parts in one testing window. Sir Angel finally registered me for the Part 2 exam and at that time, it became very clear to me that I would be facing not one, but two giants.

To give myself a solid fighting chance I used up most of my vacation leaves to attend classes and study. I had to go to work earlier than supposed to be so I won’t spend overtime on weekends and be able to attend our regular review classes. To be honest, I literally cried countless times due to stress and fatigue. Somewhere along this journey, I found my grit. This was my “now or never” and “all or nothing” moment. “I will become a CMA after June 2016”, was all written on my face each day.

You reap what you sow. Dreams do come true. Such cliches really make sense. After all the disappointment, frustrations and sacrifices, I finally made it! As of September 2016, I am now a Certified Management Accountant. It was, more than anything else, a personal victory because I didn’t let myself down this time.

CMA is not just a challenge; it requires pure hardwork and dedication of your craft. No less.

So what’s next? That’s also my question actually. Right now I’m currently looking for other opportunities and I guess they are gradually showing up. For example, I was given a new and challenging task at our company after my boss learned that I passed CMA exams.

More than the things I’ve learned in this review, what I value the most are the tons of experience, lessons and friends that I will forever cherish. I guess you just don’t stop when you’re comfortable; you simply never stop learning and innovating yourself. You can achieve something you wouldn’t even think you can if you continue to challenge yourself and not settle for mediocrity.

About the Author:

Naomi Q. Angulo, CMA, was a Bachelor of Science in Accountancy graduate at San Beda College, Mendiola, and currently works as Treasury Associate at one of the largest real estate developers in the country.

My Journey to Becoming a CMA

Having been an officer of Junior Philippine Institute of Accountants (JPIA) of our school, Chiang Kai Shek College in my fourth year, I had the chance to share ideas as to what activities we could have in the entire year. Since I wanted to lengthen my name with acronyms besides CPA someday, I suggested seminars concentrating on other career opportunities. One of these is the CMA (Certified Management Accountant).

We contacted Sir Edison Chu, a cousin of my classmate, who was an officer of IMA (Institute of Management Accountants) Philippine Chapter then. August 22, 2015 had been settled as the day of our seminar.

I really thought that once the seminar ended, we will all just move on and continue with things we were doing before. But when the seminar nearly ended, Sir Angel Secerio Jr., one of the guest speakers, gave an extremely encouraging offer for fourth year students wherein students will only pay the CMA program fees once they pass the examination. Because of the excellent offer, three of my classmates and I joined. However, because of fear (of failure), huge investment fee involved and other circumstances, we all backed out.

After a few days, a message from Sir Angel appeared on my Facebook chat box telling that if I want to, I could be a full scholar to be sponsored by Insights. I told my classmates about it and one of them reaccepted the “Pass Now, Pay Later” offer. However, even before the review started and after we got registered to IMA, we once again almost quit fearing that we might fail and disappoint ourselves, our loved ones, and Insights. Fortunately, we are blessed to have our IMA mentors and college professors for continually encouraging us to continue on, not letting us to give up even before the battle begins.

As part of our exam strategy we had taken CMA Part 2 examination first. Our journey to pass this first exam was never easy. We were still studying in college during that time, and our classes were scheduled from Monday to Saturday; we got only Sunday as our rest day. Joining the CMA review had taken even this day away from us, but for good reason. I thought that it could be so exhausting but since our reviewers were motivating, we just enjoyed our review. Furthermore, it was just a little sacrifice for us to make it.

When my examination got nearer and nearer, I was always saying to myself that I can’t fail. I once failed from a college entrance examination and it really lowered my self-esteem. It was one of the events in my life that stocked into my mind and it wasn’t good. Hence, I really made myself try hard to pass.

My Part 2 examination had been scheduled to January 7, 2016, but because of fear and unpreparedness, we rescheduled our exam to the last day available, February 24th of the same year.

When the day of the examination came, something even happened. My companion and I had agreed to meet at a specific place but since I came early, I went somewhere near to eat first. I was expecting for her to text me but no message from her popped out. I was texting and calling her but there were no replies. An hour before the examination I called her parents and was told that she already left. I grabbed a taxi after and I was literally crying inside because I felt like I was left by. I also thought I would be late and not be admitted. Good thing I was able to make it.

The result had been released on the 6th day of the month of April. It was already 11:00 o’clock in the evening when my classmate called and told me that she passed. Nervousness ran through my blood immediately as only two of us from our school joined the battle and it’s a shame if I failed and she passed. Gratefully, a positive result had been sent to my email.

Reviewing for Part 1 examination has been tougher since we were simultaneously reviewing for CPA licensure examination. I already got confused what to review first. Not reviewing even for a day for the CPA examination was already a big thing. However, realizing that CMA title was an international one and my examination for it would come first, having been scheduled on June 23rd, my time had been mostly spent reviewing for it during May and June. Luckily, no more dramatic scenes happened on my examination day. The result had been released in August and I was really thankful when I was told that I did it despite the difficulties.

Fears, doubts and difficulties came into my way during the CMA review and examination, but I continued anyway. While I’m writing this, I have realized that our only opponent towards success is us, ourselves. As what Paulo Coelho said in his book The Alchemist, even the universe conspires in helping us to achieve our goals but we ourselves block the opportunities to win. Success is a fruit of good attitudes, and being fearful is not one of those.

Our future relies on what we do today so we should not waste our time doubting. We have to believe and do our best rather.

About the Author:  

Samantha Joyce Corpin is a Bachelor of Science in Accountancy cum laude graduate from Chiang Kai Shek College last April, 2016. She is the eldest daughter of her elementary teacher mom and policeman dad.  She passed the CMA examination this year and is incessantly hoping to pass the CPA examination this Oct’16. She plans to work with the Big 4 firm and pursue multiple certifications in the future.

“Road to CMA”, this way

It all started during my last years in college when I was designated to represent my school for a competition. I was one of those fortunate students who would frequently be sent off to inter-school competitions, and out-of-town conventions. The said contest was composed of Certified Management Accountant (CMA) topics which were basically Management Advisory Services’ scope, which I began appreciating more and become attached to.

Came the October 2015 CPA Licensure Examinations’ (CPALE) results, I felt like I could be something more, that there’s more to life than just that, that my CPA title would not be an end, but rather a beginning of something more exciting. From there, I reckoned the time when I stumbled across a Facebook page of a CMA review center, Insights Financial Review Center.

At first, I was hesitant to ask about the program, as I knew it would involve a large amount of money, plus it would take away much of my time and require tremendous effort. But I had this urge; I wanted to prove that I could actually be someone much better; I wanted to differentiate myself from other CPA professionals. I wanted to become a CMA so badly, and so I took a leap of faith. I proceeded.

After few arrangements with the Review directors, we agreed to plan for my test for both exam parts, targeting the May/June testing window.

I was invited once to attend a dinner meeting with other CMA candidates, some of whom were already at least part-qualifiers. We were asked to tell about why we decided to vie for this journey. There were veterans already. But likewise there were some young professionals too. Stories were colorful and inspiring, however I had nothing to share, as I was relatively young, and all I wanted to do was really to earn the certification, period. All I had then, that I could show off, was just my fresh knowledge from the CPALE that I could leverage, and my determination.

In the course of my preparation for my examinations, I have realized that being a working student was one serious struggle. I had to ensure I could deliver quality output at work, while being able to study, or at least make myself ready for my Saturday and Sunday classes. Additionally, I also had to catch up with my family and friends. Juggling tasks from work, school, family, social life wasn’t an easy endeavor, that at some point I had either to give up one or more to accommodate another. It was always a matter of knowing which things to prioritize.

There were instances, as well, when I lost focus, and didn’t know what to do. I would wake up one day, and tell myself that I didn’t want it anymore, that I would rather quit than pursue, to relieve me from stress. Luckily enough, I had my mother, my friends and Sir Angel, to remind me of the reasons why I started in the first place, and put me back on track again.

When the date set for my exams were near, I started panicking. I only had four months to get myself ready. I just couldn’t eliminate the doubt of not making it through, and even considered to postpone my exams. I took the risk, and didn’t change my exam plans.

I felt so discouraged sometimes, but funny enough, I would pull myself together, back again and keep my aim locked. When others would say, “don’t mind the fear, ignore the pressure”, I would say, “Let them burn, let them consume you until you feel numb about them.” Let the fear of disappointment be the fuel for you to strive, let the pressure your peers put on you be the drive to push you for another extra mile and prove them you can.

I had this mindset that I never believed in failure. I would either succeed or I would learn and come out better.

By the grace of the Almighty, I managed to pass both Part 1 and 2, when the results were rolled out last August. I am grateful for all those people who stuck by me all throughout my journey, especially my ever-supportive mom who relentlessly prayed for my success. I would also like to express my gratitude to the Insights team of instructors, for helping me draw a clear direction to my young career.

Right where I thought I was about to end my CMA story, another opportunity knocked on my door and I warmly welcomed it. I am now affiliated with Insights as a part-time CMA instructor, fulfilling my long-term aspiration of becoming a mentor.

I put myself into this with no clear understanding as to how it could impact my professional growth, yet now I could clearly say that the CMA designation has become a life changer. It became an avenue to discover new potentials I had, build a strong network of professional accountants, and further enhance and nourish my knowledge.

About the Author:

Angelo B. Villadores graduated Cum Laude in Bachelor of Science in Accountancy at Lyceum of the Philippines University – Batangas. A Certified Public Accountant since October 2015, and a Certified Management Accountant Exam Passer since August 2016, he currently works as Financial Reporting Analyst in a big international bank. He enjoys reading novels and watch movies in his spare time.

The Long Journey That Led To Victory

I think my passion for Management Accounting started out during the first semester of my senior year as an Accountancy student in college. It was the first time I ever encountered Cost Accounting and I was immediately fascinated by the practical applications. It definitely was not the easiest subject but I found myself being more diligent in this one more than any of my other subjects. Since then, I had always been more excited and interested about taking other Management Accounting courses until my 5th year in college. I guess it was the less rigorous and stringent rules involved in Management Accounting against Financial Accounting.

During that time, I seriously considered taking on work as a Cost Accountant in a private company by the time I graduated. So while my classmates were gunning for the Chartered Financial Analyst (CFA) certification, I was already playing with the idea of eventually being certified as a Certified Management Accountant (CMA).

It took me 4 years before I actually decided to finally pursue my CMA. Between the time I graduated and got my CMA, I got my Certified Public Accountant (CPA) license, pursued a career as a tax professional in a Big 4 auditing firm, and finally landed a position as the Head of Budget & Planning in one of the top food kiosk operators in the Philippines. It is a position I currently hold today and was one of the keys that eventually led me to get my CMA to benefit both my professional development and achieve my organization’s objectives. I was excited to finally be a management accountant in action and help my company lay out the groundwork of the budget and planning system that it follows today. I was fortunate enough that my superior, herself a college instructor and long-time supporter of learning, and upper management supported my desire to pursue this certification and agreed to sponsor my review and exams. And so I started the 6-month journey under the umbrella of Insights Financial Review Services.

It was not easy juggling the demands of a full-time job and finding time to prepare for the exams. I do have to say that taking the exams as a working professionals granted me a different and valuable perspective in approaching situational problems through real-life situations I may have encountered at work, lessons which I will not find in any textbook.

Weekends were spent in review classes and I dedicated at least 2 hours each weeknight to make sure I covered all the materials and answer at least 50 multiple choice questions. Consistency was key in keeping my study rhythm and making sure I don’t slack off even on the busiest of work days.

My scheduled exams came at one of the most hectic points during the year when projects were at their busiest and the budget season was kicking in. After sitting through each exam, I did not mind the wait as I went about business as usual.

When the results came late one night in November, I was overwhelmed with happiness at seeing the words of congratulations from the IMA and excitedly shared to my family, friends, and colleagues who tirelessly supported me throughout.

I didn’t expect to be overwhelmed again on January the following year when I got a text message from Insights CMA Review that I had actually landed a Certificate of Distinguished Performance award given by the ICMA Board of Regents, and had the chance to receive the it personally in San Diego at the prestigious IMA’s 100th Annual Conference.

All I can think about when I look back at my CMA journey and those 3 letters I can now attach to my name was how thankful I am for getting more than I bargained for when I started. It may have taken me longer than most but I eventually got there with the help of Insights CMA Review, the supportive management of my organization, family, friends and colleagues.

About the author: 

Pat graduated magna cum laude in BS Business Administration and Accountancy from the University of the Philippines Diliman and is a licensed CPA since 2014. She is currently the Budget & Planning Manager of one of the most beloved snacking companies in the Philippines and does financial consultancy for selected clients. She enjoys watching sitcoms and reading during her free time and is a proud dog parent to Muffin.

Proud to be a Pinoy CMA

To live in a third world country like the Philippines is both a blessing and a curse. There is the problem on poverty, graft and corruption, prostitution, human trafficking, and brain drain among others.

I am not being pessimistic. This is being real and there is a fine line that separates the two. I don’t even believe there is still the need to discuss these socio-economic problems one by one. It’s not like I want to focus on these negativities either. In fact, I am writing this out of the belief that there is beauty in the imperfection of this country – a beauty born from the socio-economic chaos that we are living in. Every coin has two sides, right?

Think of the Philippines as an obstacle course. How do we go through an obstacle? We strategize. We do what needs to be done in the manner we think that is most effective, right? Our daily experiences teach us to be strong-willed, adaptable, analytic, strategic, competitive, and more. We are trained to deal with obstacles and not back down. Not to mention that we Filipinos widely believe that we won’t be given a problem that we cannot handle. This is primarily the reason why many Filipinos stood out and stood strong wherever life has brought them.

Needless to say, to be in the field of accounting and finance in a third world country is much more challenging than it already is. The demand to recognize and address the continuous economic changes that take place every once in a while and deal with its uncertainties is much higher.

Looking to the brighter side, a challenging economic setting does to a Certified Management Accountant (CMA) what fire does to flame. It strengthens their competitiveness and hones their analytical skills. They become the kind of accounting and finance professionals our country and other countries need. This is clearly an advantage for Filipino CMAs because a competitive analytical skill honed by real-life experience gives them the ability to make well-informed critical decisions or advice.

To address the issue of economic uncertainties, many corporations are now focusing on re-evaluating their key performance indicators (KPI) to check whether it is still applicable to the current economic situation. Corporations are highly dependent on management accountants in doing this. The different States in the U.S., China, Europe and those countries in the Middle East, these are just a few countries that have abundant demands for CMAs with competitive analytical skills. With the small number of CMAs based in Asia, and proven analytical skills, CMAs are offered key positions in the business organization that pay above industry remuneration. Coupled with diligence and hard work, it is clearly another advantage for Filipino CMAs.

Besides competitive analytical skills, another edge of Filipino CMAs is their world-class academic training and good communication skills. Philippine accounting education is patterned to the U.S. curricula and has continuously evolved to adapt its focus to what is currently in demand in the international market.

Based on a survey done by IBM and BBC, Filipinos have the most neutral accent in the world. No wonder we can speak English as if it is our own language. This crucial factor gives us the distinct advantage of minimizing the language barrier between foreigners and us Filipino accountants in our quest to deliver sound and learned professional advice.

Since Filipinos have embraced a Westernized lifestyle, fashion, and way of communication, it makes it easier for other people from all over the world to communicate with us.

Simply put, the corporate world needs Filipino CMAs. You just have to be the kind of CMA that these companies and corporations are looking for.  Doors to greater career opportunities that break geographical barriers will always be yours for the taking. Pinoy CMAs, go forth as you aspire for excellence.

Sic Parvis Magna

“Sic Parvis Magna” – Thus great things come from small beginnings, this was the belief of Sir Francis Drake, one of the most famous strategists and privateers that had lived in the 16th century. An aphorism I would adapt to remind me of where I want to be.

I’ve always viewed the accounting profession as a two way path – either you go for external reporting (financial statement preparation, audit, and taxation) or internal reporting (cost & management accounting, and consultancy). I already confided myself to take the internal reporting path because I believe it is dynamic between the two. Having been employed as a management accountant in a multinational BPO, I’ve experienced interacting with a lot of business executives and learning from them. It also has a great sense of responsibility because, as consultants, what you advise to leaders often stirs up the organization to that direction as well. Whereas financial accounting has guidelines in reporting fairly financial results to stakeholders, management accounting uses simple logic and straightforward computations in reporting results of operation while driving them to act on matters to improve sustainability or growth. It was only then natural for me to get the credential for management reporting the Certified Management Accountant (CMA) title.

I started to do some research on how to get it and my readings took me to the IMA site where I also decided that it would be the most relevant for me because the headquarters of my company is located in the US. I also learned that IMA is endorsing Wiley CMA Review materials as their partner so I hurried to their site to get information where I can get it. This is where I learned of Insights Financial Review School as the official distributor of the materials in Philippines. What was supposed to be an initial email regarding the price of study materials (Wiley CMAexcel is the approved study material) became the official start of my CMA journey.

I met Sir Angel and instantly laid him my plans on taking the exams. I told him that I will be taking it on October 2014 since I needed time to prepare both mentally and financially. But he challenged me to take the exams earlier in the May/June window! It was from here that he invited me to his office as it would be best to discuss it personally rather than email exchanges. Perhaps it was his genuine sense of desire to help that I accepted his challenge though I was extremely reluctant. So my plan was pretty simple, take Part Two in May as I would need more time to review it while Part One will be delayed to June because I have more familiarity on its exam coverage.

Unlike before when I prepared for the CPA (Phil.) where I was a full time student back then, now I’m a full time employee and a part time student. I was always amazed by stories of people who worked while taking CPA board exams and passing it. Now I have the chance to experience it (though I only have two comprehensive exam parts compared to their 8) and it thrilled me more than anything. This is where time management is a critical success factor. There has to be a balance between work responsibility, study and that thing called “life”.

I know this has been mentioned like a million times before but I guess what they fail to emphasize is CONSISTENCY, all those careful planning will mean nothing if the plan will not be followed strictly. I was so determined to follow my schedule that even when I close my eyes, all I see is the word consistency in order to remind me of the task at hand. I made it a point to always answer multiple choice questions a day, even if it’s only for five items. I remember I had to receive notes and questions, a day before the exam just to make sure that I’d get the net tax effect on cash flow from sale of old asset in capital budgeting.

Of course this journey would not be one without any sacrifices. There was less socializing for me during company events; no summer outing in Palawan or Boracay; no scheduled trips for an out of town with family or friends. Virtually any time I could save away from work, I devoted to study. There were times that I wanted to just quit only to realize that it was I who wanted this in the first place and I have no right to complain. It was during these times that my determination was tested. Whenever I feel exhaustion, I’d tell myself to go back to the day I decided I’ll be a CMA with all the reasons I had back then and how I can let down all the people who helped me as well. Surprisingly it’ll move me off my bed and get to work on answering those exercises. Again, consistency is the key because it becomes a habit. And when it becomes a habit, you don’t have to drag yourself to answer questions, like breathing it becomes second nature to you.

A support system is very important to any candidate who wishes to pass the exam. I was very fortunate to have very supportive people around me while I was doing this. I had the best coach in Sir Angel, up until now I kind a feel the shiver when he messages me on Facebook with “How are you Ken?” and then I’d be like “Oh my! I haven’t finished yet the questions he gave me to answer!” A very supportive family who prepares the food I eat to the clothes I wear. They make sure everything is taken care of and that I have nothing to worry about. My team and bosses at work were helpful too. They would let me leave office earlier than usual so I can have ample time to review.

I believe the most important of all, the Almighty Father who had given me the opportunity to experience all of these. I would take this time to say my deepest “Thank You” to all. Know that none of this would have been possible if not for your individual contribution, patience and understanding.

I also think that a candidate must also stay healthy by taking necessary nutrition during the course of preparation. Remember that all the hard work will not pay-off if you’re sick during the examination day. Also, have time to relax. Putting too much pressure on something will break it and it could be you. In addition, reading success stories from other candidates who passed was helpful for me. It made me more inspired knowing that they have struggled too but was able to overcome it; if they did it, then so can you and I!

Finally I know that passing Part Two is only a portion of the beginning. I’m still waiting with Part One results and I’m extremely hopeful that I make it as well. I think the real challenge still lies ahead, after the certification has been awarded. It must be put into good use – by giving value in the organization. More than the mastery of knowledge, I believe that the CMA certificate is also a testament to the bearer’s character.

A CMA is a proven challenge taker, one who focuses the drive and perseveres to achieve their goals to become successful. I hope with all of this I am able to spark a fire somewhere and I would strongly recommend that you act upon it swiftly.

For always remember, great things come from small beginnings – SIC PARVIS MAGNA.

About the Author – Kenneth Lapez is a graduate of Colegio de San Juan de Letran in 2006, and passed and earned his CPA license in the same year. He is presently connected with Accenture Philippines as a Finance Specialist for more than five years now. Eyeing for a solid role as business consultant, he pursued the CMA designation early this year and had recently completed the requirements of the CMA Program, passing both parts of the CMA examinations in May/June 2014 testing window.

A Marvelous Detour

How do you tell a story when its climax is yet to unfold?

It’s a question I was tempted to ask Sir Angel, my mentor – but better decided not to. After all, I’ve already said “sure” to the task, hadn’t I?

So here I am. After passing hours of thoughts adrift and heaving sighs I lost count on, let me share to you my CMA journey…

It was the in-between of finals week and graduation when I was formally introduced to the path of becoming a CMA.  Though snippets about a certification for management accountants had been going around before, it was too short-lived to turn “interests” into actual “commitments”. On top of that, my mind is already preoccupied on planning that out-of-the-country vacation I have been saving for so long. Singapore, Hong Kong, Cambodia, Thailand, Malaysia were in fact among the places pinned; and setting foot on the land of Wiley, Gleim or Hock is absolutely far off the grid.

However, my life – as always – had been an endless string of ironies.

While bracing myself for a last round of battle against one of my management subjects, Sir Randell, an accounting instructor in our college who is also under the mentorship of Sir Angel and not to mention among the new CMA passers, approached and offered me the ticket to this wholly unexpected trip. On the same day, I received a Facebook friend invite from “The Angel Valdenor Secerio” and upon accepting, was asked if I am interested in discussing the details of the program. As I said, I’m already set to what I want to do after graduation and NOTHING can pull me out of it. But perhaps inquiring “a little” about this opportunity will not hurt. Besides, this man is but a stranger who is miles away and the person I could least expect to drive me down a detour.

I underestimated him though – and missed the most obvious sign. The man is named “Angel” for a damn good reason! Not only was he prompt in responding to my questions but had the tenacity of a real angel as well when I almost let the chance slip away.

My justifications on turning down the offer at first were: too expensive (despite the privilege of availing a student discount), too soon (final exams are not even over), too late (already singing “Leaving on a Jet Plane”), too risky (could be a scam), too tired (give me a break) and the list went on. But truth is, all my excuses boils down to this…I was simply too scared – of the uncertainty, by the thought of failing and of the soundness of my capabilities.

In reconsidering the offer, I had to read and reread Sir Angel’s message countless of times until a point where I had to weigh between which taste I’d rather endure later on – the temporary bitterness of failure or the perpetual pungency of curiosity. Obviously, with fingers crossed, I picked the former. At an instant, my course is changed by two brief words, “I’m in”.

From there, everything seemed to have gone so fast. Before I can even make sense of what I just put myself into, I am officially a member of IMA (Institute of Management Accountants) and had registered for a 2-part exam.

The review stage was rigorous and demanding. And when an e-mail promises voluminous test drills? Buckle up because, indeed, “voluminous” knows how to live to its promise. With no exaggeration, it was my four-year undergrad accounting exams jammed in a three-month review. Through every unfamiliar intricate topic aggravated by the sweltering summer heat came the strong urge to desert the flight. But I’ve already taken off and lost sight of the ground hence there is no going back.

Then days turned into weeks…weeks into months…and alas, I have arrived at my destination (or checkpoint rather)! The actual exam is certainly everything you can expect from securing such a world-class title. It will not only drain your energy but also all that confidence you’ve earnestly tried to build-up during the months of review. And just when you thought you’ve scaled the most difficult phase, the agony of waiting will immediately prove you wrong – an agony from which I am yet to be released.

In view of this, I still couldn’t offer much on the “secret formula” to passing. However, in the context of taking risks, here’s what I’ve learned.

Everything starts and ends with you. The world can throw all the best opportunities on your way but it’s up to you to seize them. I’m not saying that the answer should always be a yes. It’s okay to take a moment and ask yourself, “Can I do this?” Definitely. “Will I succeed?” Well, that’s where risk comes aboard. You may or you may not. Nevertheless, you will realize as you go along that the more precious intangibles – such as the new bonds and lessons – are the ones that truly make the whole journey worth taking. But just in case you do fail…Guess what? You are not the first in history and life goes on! As for the climax of my story, I can only imagine the Big Boss from above calling out, “Coming soon, Erika”.

CMA, A Title Once Only A Vision
Julie Ann Orosco, CPA, CMA

What started only as a vision has now become a reality.  With the increase in the number of professionals in the finance and accounting industry, constant learning and update is critical to maintain one’s competitive edge.  Taking an international license not only shows your mastery and knowledge on the subject matter, but also indicates your commitment to excellence in the global sense.  With a number of certifications to choose from, it is but natural to be confused on which path to take.  But one thing’s certain, be it CIA, CMA, CFA, CISA and the likes, each is very promising, it will just depend on what you love doing the most.

Being an auditor, a financial analyst, and now, a management accountant, I have realized that analyzing data and reporting it for management has been one of the most enjoying and fulfilling things for me.  During these days, I met Mr. Angel Secerio, the executive director of the Insights Financial Review Services, a professional review course provider for US CPA, CIA and CMA in Manila.  Like a stray cat, he took me in as a student and gave me the opportunity to push through the management accountant career.

Having graduated and passed the CPA licensure exam in 2009, it has already been four years since I read my textbooks and review materials.  What I’ve been reading these days are just magazines, fiction books and online news articles.  Hence, picking up where I left off and moving on to study mode has been a bit hard for me as I now have my work schedule to consider.  Good thing with Insights, my review mates were mostly working as well; so, we share the same sentiment.  As such, we helped motivate each other, on top of Sir Angel’s constant reminder, to endure and push through with the path we’ve chosen.  With the weekly Sunday lecture session at Insights, at least an hour per day of online examinations, periodic comprehensive assessments; I was able to make it through the 2-part CMA examinations.

Having blessed with this new CMA title, I am more driven and excited to share this management-level skills and expertise to add value and drive business performance that can contribute to the success of the organization I am with.  I know that this is only the start, but being part of the Institute of Management Accountants, I am fairly sure that my knowledge and career opportunities will expand with their best practices to maintain their members’ competitive advantage.

As a last note, I would like to give my big thanks to our Almighty Father for this wonderful blessing; as well as to Insights, Sir Angel, my reviewers, my review mates, my family and friends for sharing this bumpy yet fulfilling CMA path with me.

Julie Ann Orosco, CPA, CMA