The Institute of Management Accountants (IMA) recently began promoting a second and independent achievement designation under the name of Certified in Financial Management or CFM. The CFM is a not an add-on to the IMA's established Certified Management Accountant (CMA). It is designed for those in financial management who seek to achieve professional recognition but who may not be comfortable with or feel qualified to use the word accountant as part of a designation. In addition, some states regulate the use of the word "accountant" or letter designations that stand for the word "accountant."

Clearly, IMA believes financial management is a major activity of many of its members and giving them an opportunity to obtain a professional certification is a significant benefit to them. IMA also sees potential candidates for the certification program in education and other sectors of the business community who may wish to demonstrate competence infinancial management.