Leading Paper Company to Offer Onsite CMA Exam Prep Courses

Sometimes all it takes is one person to make a dream a reality. One person, that is, and a little bit of luck. For Angela Bauldree, an accountant at Domtar, the leading paper manufacturer of uncoated freesheet paper in North America in Ft. Mill, S.C., that dream was passing the CMA® exam. Although Ms. Bauldree had tried to study on her own and had used self-study review courses, she couldn't muster a passing score. So when Dr. Roland Sparks of Johnson & Wales University made a presentation this fall at the Charlotte, NC IMA chapter about his school now being able to offer onsite CMA exam prep courses and testing, Ms. Bauldree saw her opportunity.

“I approached Dr. Sparks and asked him, ‘What would it take to have a class at our company?' To me, it seemed like it could be a win-win for everyone: the accountants at Domtar, Johnson & Wales, which had just recently become eligible to offer review courses and testing, and of course, me, who had always wanted to become a CMA,” she said.

Ms. Bauldree's next move was to determine how many accounting professionals at Domtar would be interested in the course. Fortunately for her, the timing was just right: the finance department of her company had recently relocated due to a merger and as part of the transaction, the company had agreed to pay for any additional certifications its employees pursued.

“I was astonished that of the 31 people in the finance department, 17 were willing to take the CMA review course,” she said. Ms. Bauldree attributes this interest in part to the strong support that the CMA had within the company. Royallen Wiley, Domtar's controller, was a long-time CMA, as were two other department members, both celebrating about 25 years with the certification. (Ms. Bauldree herself is a decade-long IMA® member and past president of the Charlotte chapter.)

In order to ensure that she could guarantee enrollment of at least 15 people, Ms. Bauldree decided to pursue other organizations that might be interested in piggybacking on the course. She contacted Chris Bennett, another long-time CMA and controller of Fort Mill-based Flakeboard, North America 's leading producer of composite panel products. Mr. Bennett encouraged five members of his finance team to sign up for the CMA review course.

“I think it's a great example of how, even if you don't have the minimum class size – in our case, it was 15 people – you can still make it happen. Don't write yourself off, because you can still find another company to join you,” Ms. Bauldree said.

IMA's Corporate Development team also got involved in the process. Staffers Steve Weiss and Lisa Beaudoin put together a webinar to explain the CMA review course and the exam to employees. “We also did a mass staff enrollment,” said Mr. Weiss, IMA director of corporate development. “All company finance employees became IMA members, a necessary criterion for taking the exam, and the company received significant cost savings as a result.”

Both Domtar and Flakeboard are covering all course costs, as well as all registration and exam fees. “There's little or no cost to the employees,” said Ms. Bauldree. “Just the time investment and commitment to sticking with the program.”

One of the biggest benefits to a company of having an onsite review course is the convenience it offers. “The instructor comes to the company, so people don't have to travel anywhere. There's also the ‘cohort effect,' which generates friendly competition between peers. Anecdotally, too, we've found that people who study in groups tend to have a higher pass rate on the exam than those who study on their own,” said Mr. Weiss.

Another benefit of using an IMA-approved instructor class are the resources that are available. Said Ms. Beaudoin, IMA organizational learning manager, “All of our approved IMA providers have access to unique instructor materials, including retired CMA exam questions, prepared lessons with Power Point slides, and specialized classroom exercises. These are tools you won't find anywhere else.”

The Domtar review program began in mid-March, on Thursdays after work for three hours. The first segment will run for eight weeks, for a total of 24 hours of classroom training. Under the current schedule, the participants will complete the first eight-week review course, then have four weeks to study for and take Part I of the exam. The cycle will repeat until all parts are completed. If all goes as planned, everyone should pass all four parts of the CMA exam within a year.

It's an exciting prospect for Ms. Bauldree and her colleagues: “One of the questions that kept coming up was, “What if I don't pass?' First, Johnson & Wales has offered anyone who doesn't pass the opportunity to take the review course free at their campus facility, which is very generous. Second, Mr. Wiley keeps telling people that it's all about moving beyond their fear of failure. No one should avoid doing something because of fear. Fear can't control your life – you've got to have a positive attitude. Of course, being prepared goes a long way, too.”

For additional information about IMA's onsite CMA training programs, please contact Steve Weiss at SAWeiss@imanet.org or Lisa Beaudoin at LBeaudoin@imanet.org.