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.

Reaching for the Star

From being a scavenger of junk to being the first ever The Voice Kids Grand Winner… That is Lyca Gairanod’s Cinderella story.

Her powerful performance of Basang basa sa Ulan, originally by the local band Aegis, captured the heart of the viewers thus earning her a standing ovation not to mention getting the highest percentage of votes. From not having enough to now owning millions-worth of properties and cash prizes, her life was changed forever. After nine years of poverty, Lyca was able to turn her life around through her God-given talent in singing.

As used by Milo for its tagline, great things indeed start from small beginnings and Lyca is the epitome of this popular saying.

The kid’s story is close to my heart because it reminds me of a friend’s journey to being a Certified Management Accountant (CMA). He did not scavenge junk but instead, scavenged a lot of disappointments before he finally became a CMA.

Failing three times was not easy. It broke his self-esteem in shattered pieces. To fail once was tolerable, twice was breaking but three times? Can you just imagine how so down he felt to not make it the third time? However, like Lyca, he was determined to make his dreams happen. He perfectly knew that the only way was to take the exam again.

And so he did.

He used his disappointments to push himself to give more. He hung on to his faith that he was meant for greater things such as being a CMA, and beyond. He studied night and day and in between breaks during weekdays and was almost an anti-social during weekends. He treated his goal as if his life depended on it. He believed in himself and never entertained negative thoughts during his conquest.

After two to three months of waiting, his determination and commitment to win over his failures rendered him positive result. Alas, he passed. True enough, nothing worth having comes easy. He’s now working as a Senior Finance Analyst in one of the biggest utility companies in the Middle East.

I cannot picture the amount of positivity that my friend still has even after failing three times. Could you?

I guess it’s really just about perspective:  Seeing the glass as half-full rather than half-empty.

Nonetheless, the fact that he never stopped believing in himself played a vital role on his success. His is a story that is worth sharing and also inspiring in so many ways. Perhaps, it’s through his story that we may realize that our failures do not seal our future. What we do after failing in our individual endeavor does. It is not what we achieve but the setbacks that we overcome that really matter. That’s what makes the fruit of every labor and sacrifice so much sweeter.

How we are able to rise above unfortunate situations is what makes us a better person. Like my friend, let us use our failures and struggles to better our self, equipped with the realization that obstacles are thrown our way to test us and our resolve from time to time on how much we really want to achieve our goals.

Never Too Late, Never Too Old
Learn to Lead

Do you know what Richard Branson’s greatest motivation is? It is “to keep challenging myself. I see life almost like one long university education that I never had—each day I am learning something new“.

Most people like to say that they’d like to do and experience everything that they can while they’re still young, insinuating that after a certain age it might be too late. This young generation of technocrats believes that people stop being motivated and creative as they reach middle age.

On the brighter side, this way of thinking can fuel your desire and determination to see and do everything possible while you still have the energy and will to excel at the early stages of your life. I personally know of one colleague who, after earning his baccalaureate degree in accounting and passing the Philippine CPA examination, immediately pursued the MBA course, then the CMA certificate thereafter. At the age of 25, he has a CPA, MBA and CMA title. If you think these are remarkable achievements, wait ’til you hear this other one. He completed his accounting degree and passed the Phil. CPA exam in 2011 at age 20. As family migrated to the U.S. he took and completed all four parts of the Uniform CPA examination last year. This June, he took Part 1 of the CMA examinations.

Sometimes, though, it makes you think that once you hit a certain age and you feel you still haven’t achieved anything in your professional career, you start to believe that you have pretty much failed and that you can’t do anything about it anymore.

Unfortunately, there are a lot of people out there who think that they’ve let so many chances pass by and that they already failed to grab any opportunities in life. Others also tend to adopt the idea that they’re just too old to try and learn anything new, and that whatever they know is sufficient. Thus, many of them just plod along without striving to be better at their jobs or in life, and without exploring any possible new opportunities that could improve their career. They just stop being enthusiastic anymore. Some people become complacent as they mature, and no longer have interest in learning current industry trends. I am glad I fought this off as I realized that even in mid-40s I could still motivate myself to pursue international certifications (CMA and U.S. CPA).

It is important for us to realize that age is indeed nothing more than a number. It doesn’t say anything about one’s ability to learn something new. It doesn’t restrict us from achieving. And it certainly shouldn’t be a barrier to how much we could change and how much better we could become. Opportunities should not just be restricted to younger people, after all. For “old-timers” (like the author), it is imperative that we recognize that having the right attitude and positive outlook in life is still the key factor to success. Equally so, being cautious should not be mistaken with looking at situations or opportunities negatively.

In addition, you want to stay relevant in your field, or at the very least be able to understand what other people are talking about. You don’t want to get left behind, and you certainly don’t want to become the kind of person who just looks on as new developments arise and are unable to get on board because you didn’t bother to learn new things. It is the ability to adapt and embrace change that can bring success to us as professionals.

So the next time you catch yourself thinking that you’re too old to try something new, take a course, or learn how to use a new gadget or software, stop and think for a few minutes. By merely contemplating to pursue a post-graduate course, or to upgrade your skills by enrolling in personality development training or seminars, these already are important indicators as these circumstances show that you still want to learn.

Don’t let others write you off just yet; prove you still can, despite your age.

Making time to improve yourself

Who isn’t busy these days? It often seems like there are so few hours in a day for us to accomplish everything that we need to. Just think of all the hours we spend at work, the time we spend getting to the office and traveling back home, and the precious few hours of each day we have for our family. Given everything that’s going on in our lives, who actually has time to make room for anything else?

That’s something that so many people often say about themselves, and that often serves as an excuse for why they didn’t get started on a personal project, why they didn’t get to exercise that day, or why they aren’t pursuing other activities that will improve their lives, boost their careers, and teach them new skills. But if you find yourself blaming your busy, hectic life all the time for your inability to work on improving your life, you might want to step back first and take a good hard look at yourself and your schedule.

First of all, you have to consider whether or not you’re really as busy as you seem. Of course you have work, other hobbies, and your responsibility to yourself and your family. But there are inevitably some quiet spaces between each activity. What do you do during those moments? Do you sit back, relax, and do nothing? Do you spend them online? Are there any other things you do which are unnecessary and are done simply for you to kill time?

Second, you have to remember that every minute counts when you’re trying to learn a new skill or update your knowledge. If you’re really pressed for time, you don’t need to spend long hours studying and practicing. Block off at least a half-hour each day, and spend that half-hour on yourself, without any distractions. It might help for you to learn to give up some non-essential activities to make room for learning–sure, spending hours on Facebook or playing games is fun, but they don’t contribute to your improvement. You’ll find that giving up some activities is a small price to pay for long-term self-improvement.

The important thing is for you to really commit to your intention to improve yourself. No one will do it for you, and no one will rearrange your schedule to allow you to work on your self-improvement efforts. It all starts with you, and once you’ve learned to prioritize yourself and on becoming better, to commit to your goal, and then really make time for it, you’ve already taken a very big step towards self-improvement.

Why You Should Update Your Skills

When people have been in a particular field for a long time, there are those who tend to fall into complacency and think that they know everything that there is to know about their career or the industry. It’s easy to think that your experience and the number of years you’ve spent in your career are sufficient qualifications–until you realize that everybody else has moved on, that they know more than you do, and that your skills are hopelessly updated. No matter how long you’ve been in your career, you have to keep moving forward, making sure that you know the latest trends, theories, and methods in your field, that you study them, and apply them in your job. Otherwise, you risk getting left behind and you’ll have to play catchup with everyone who took the time to learn something new.

Your field is constantly changing. Therefore, you have to keep up with new ideas if you want to remain ahead of the pack. At the same time, ensuring that you have the best, most sought-after skills increases your value to the company and keeps you competitive. And if you’re gunning for a promotion or a new job, you want to make sure that you are the most qualified candidate available.

Workshops and seminars are always available for those who are interested. Your employer might also provide training to employees, which is something you should definitely take advantage of. Otherwise, you can ask your colleagues for information on any trainings, or you can approach relevant organizations. Of course, many workshops charge a certain fee, but you should just consider the fee as an investment in your future and your career.

It’s not just the skills you use in the field that you should work on. It would also help for you to update your computer skills, to start with. It’s practically unthinkable these days for any professional to not be familiar with a computer. At the very least, you should be well versed in an office productivity suite such as Microsoft Office. It would also help for you to learn to establish your Web presence and understand social media, as being able to do so can help put you in touch with potential clients and assist you in networking.

Ultimately, updating your skills keeps you fresh, knowledgeable, and relevant–and that’s something you want to be if you want to stand out among all the professionals in your field.

Life After Conquest

Studying for the CPA examinations is kind of addictive. You may find yourself crawling in the first two weeks in to exam preparation, but as soon as you get your groove going you soon feel something’s lacking each time you do not open your FAR book in a rest day, or knock off a few Wiley exercises on AUD, or listen to your Ninja Audio on REG.

It’s been almost a month since I learned I passed REG, the final leg of my CPA journey. I want to share with you how more meaningful life has become after winning it back.

I had gone for a short stop to Manila in March 2013 to celebrate my victory with my mom, siblings, friends, and employees of our small public transport business, Pamana Transport Services. The feeling is just so consuming when you look back and think about how you had successfully overcome a worthy adversary. Every ounce of sacrifice that I have invested in this journey is truly gratified, with hefty dividend paid in full.

One of my immediate plans is to start writing a book on Financial and Management Accounting and, hopefully, to release it toward the middle of next year. Indeed, life’s opportunities just become too manifest after a professional’s conquest of the CPA title. I have earned my Philippine CPA license more than two decades ago, but having the U.S. CPA title tucked under my belt just takes everything to a whole new level.

From the time I first joined Another71.com as a Ninja candidate way back in 2011 I have seen several Ninja posts shouting at the top of their lungs how jubilant they were upon completing their own CPA journeys, yet oddly asking how they’d now spend loads of their spare time previously allotted to studying. To be honest, my first impression was that these Ninjas were just being plain “arrogant”. Surely, they could always go back to doing what they used to be doing previously was what I thought was just pure logic. They could go back to being the loving, caring dad that they used to, or the wife or mom who consistently takes good care of her husband and kids on a full time scale.

If you’re not among the extraordinary CPA candidates who breezed past the CPA journey in just less than 6 months, chances are you will be able to relate to what I’ll be talking about.

CPA candidates on the average take about 12-24 months to complete the CPA journey. Yes, the often rocky road to success requires you to focus your whole being to studying that long to be able to reach your destination. Deviate from this even for a little and you expose yourself to receiving some heart-breaking 74s and discouraging 60s. And so, all for the sake of conquering this monster we learn how to say no when our kids ask us to play chess or badminton with them.

For a long while I thought I had fallen in love once again, not to a woman thank goodness, but to something known in this community as “CPA”. I knew I was “in the groove” when all I thought about then was studying for my next exam; when nothing else mattered anymore but passing.

When even in deep slumber you could hear Ninja Audios reverberating like a cool sound of morning dew, you are definitely on your way to your CPA.

Then, come the day of emancipation. Freedom. Sheer radiance at the end of the tunnel. Just as any CPA candidate had always looked forward to. Yet you suddenly find yourself disconcerted, confused with mixed feelings.

So, what is life after conquest? Without sounding negative, things will never be the same again. The things that you do and had grown living during your journey will linger on. Whatever it is that you continue doing afterwards is a matter of preference. I chose to continue listening to my REG audio because I didn’t want to lose this precious knowledge about federal taxation that I have already acquired. I still try to knock off about 20 MCQs twice a week for, honestly, how many of you REG passers do still remember the intricate rules on “basis of partner’s interest”?

On the personal aspect of things I am so thankful because my CPA journey has taught me how to reflect on the real value of spending time with the true VIPs of my life: My wife and my children. I missed a lot of quality play time with my kids for almost two years, but now can enjoy life to the fullest by redirecting all my spared energy to the very same people who supported and inspired me in each battle.

After CPA, life is truly no longer the same, because this journey do not only teach us become better accountants but, more importantly, make us become better persons.

The Journey That Wasn’t A Thousand Miles After All

Some people need something that will inspire them before they commit to doing something worthwhile for their own careers and professional advancement. Others choose and look up to their study buddies, intending to draw strength among themselves as they take on the challenges they will face in preparing for an exam. To the uncommon few, they go forth chasing their dreams with full dedication and might, willing to sacrifice everything, whatever it takes.

Whatever the cost, they pursue their dreams wherever they take them.

Like you, I had always aspired to bring out the very best in me. Way back then, I had always been fascinated by people that bear either a prefix or suffix attached to their names. Come to think of it, these enviable men and women are just normal people, like you and me, who dreamed, and persevered.

I first heard about the Certified Management Accountant’s (CMA) title in December 2009 from a colleague and friend at PICPA. I immediately fell in love as soon as I browsed the CMA program, which aims to administer a certification designed to validate competence and practical skills of accountants and finance professionals employed by today’s dynamic business entities.

It was only in late January 2010 that I have registered for membership at the Institute of Management Accountants (IMA) and, at that same moment, also have registered to sit for the first batch of the then-New 2-Part CMA examination in June, 2010.

The study and exam preparation phase was grueling and tension-filled each day as I was also providing free live lectures to then aspiring Filipino CPA candidates (most of whom are now CPAs) for their own Special Middle East Philippine CPA exams back in December 2010. The odds and daunting challenge did not make me change my mind and, despite urges from within to procrastinate, I headed straight to achieving my goal.

With Mighty God’s help in sustaining me of wisdom and strength I was able to pass both parts in the same testing window in June, 2010.

I was privileged to have known several candidates of different nationalities who had contacted me through the IMA portal, LinkUpIMA, who had asked me for advice if they should continue despite failing 3-4 times (one of them even failed 9 times trying to pass Part 1).

Indeed, earning the prestigious CMA title may mean travelling a thousand miles to some. There’s that rather insurmountable-looking criteria right there. But, unless and until you take that one big step, if you stay daunted at the fear of failing without giving it a shot, if you continue to focus your mind on hindrances and excuses which keep you away from achieving your dream, that distance between your dream and where you are now will stay a thousand miles away.

There is no secret formula to earning any gold standard international certification. No shortcuts either. People who successfully complete the U.S. CMA program and earn the illustrious CMA title undergo rigorous examination to assess the practitioners’ skills and knowledge that qualified management accountants must possess in guiding top management as they make important business decisions.

To those aspiring to become one, how long have you been holding back? How much longer would you wait ‘til you take that leap of faith that you, too, can “live the dream”? Need some help in understanding things about the CMA Program and on how this could add value to your professional career?

Let the Insights team of experts guide you on how you can finally unlock your full potential. Empower yourself from this year onward by choosing to believe.

For all you know, your journey may turn out to be far less than a thousand miles after all!

About the Author: Angel V. Secerio, Jr. is both a U.S. and Philippine Certified Public Accountant, a Certified Management Accountant, a Certified Fraud Examiner and a Chartered Global Management Accountant. He is the managing director of Insights Financial Review Services and, concurrently, a director of Pamana Transport Services, a public bus transport service company in the Philippines. He also serves as the founding president of the Institute of Management Accountants-Philippines Chapter and a fierce advocate of pushing international accounting certification credentials to the Filipino accounting community.