A firm grip on balance sheet matters - nationally and internationally

The concept of using the bookkeeping process to derive a “balance sheet” was first mentioned in historical sources 500 years ago. From this starting point, balance sheet accountancy has developed into a complex area of high national and international importance. Management accountants organise and implement commercial accountancy tasks for companies and institutions and are also able to assume management roles. This is a field in which standards have significantly risen over recent years, and comprehensive modernisation has now taken place and entered into force in the form of an updating of the advanced training qualification of “certified management accountant”. A specialist committee from the Federal Institute for Vocational Education and Training (BIBB) worked in conjunction with experts appointed by the employers and trade unions to draw up the contents of a new advanced training examination. Demand for the qualification is high. 2,900 continuing training examinations were recorded in the year 2014, 2,100 of the candidates being women.

The tasks of a certified management accountant particularly include the preparation of annual financial statements in accordance with national law, the application of tax law and cost accounting principles, the securing of an internal control system in finance and billing systems, the execution of team work and project management and the organisation and implementation of vocational education and training.

One new element is the opportunity to complete an examination in the additional qualification of “in-ternational management accountancy”. Amongst other elements, this requires candidates to demon-strate that balance sheet accountancy can be conducted pursuant to the International Financial Reporting Standards of the European Union and in line with International Accounting Standards and that financial statements are prepared and analysed in accordance with the applicable standards. They also need to show mastery of relevant English-language specialist terms and that they are able to respond to questions relating to foreign taxation, financing or payment.

In order to ensure transparency and occupational mobility in the European Union, a EUROPASS Certificate Supplement for this advanced training qualification will be made available in English and French in the near future.

Those interested in pursuing this advanced training qualification are able to receive advice from bodies such as the Federal Employment Agency and the chambers of commerce and industry.

Further information is available on the BIBB website at:

• Advanced training in the occupation of certified management accountant (German language information): www.bibb.de/de/berufeinfo.php/profile/advanced_training/251115
  
• EUROPASS: www.bibb.de/en/659.php

Contact partner at BIBB:
Martin Elsner

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