AICPA & CIMA release non-fungible token (NFT) to promote launch of Digital Management Accounting programme in China

Metaverse-Based Token Symbolises Demand for Skilled Talent

SHANGHAI, Aug. 15, 2022 /PRNewswire/ -- AICPA & CIMA, which together form the Association of International Certified Professional Accountants (the Association), recently launched their first non-fungible token (NFT) to promote the Digital Management Accounting (DMA) programme in China.

This is the first metaverse-based NFT collection produced by a global accounting professional organisation. It is also a unique step by the Association to embrace the expanding crypto technology throughout the metaverse.

The DMA® NFT rewards the first DMA exam candidates and encourages potential candidates to enrol in the programme. It also highlights demand in China for management accountants with digital skills.

In total, 168 copies were minted and available for collection on 29 July, mirroring the 168 mathematical beads on the monumental "Three Beads Above the Beam", a classic Chinese abacus used to calculate the astronomical calendar.

The DMA Metaverse Landing Token and this classical Chinese tool are both products of the collision of mathematics and astronomy. In ancient China, the abacus was extensively used to explore the laws of nature and the universe's workings, in addition to calculating numbers and keeping accounts. The DMA programme also highlights the values of exploration. Designed to challenge the perception of traditional accounting, it emphasises the significance of a digital mindset and the broad use of digital technology within the accounting profession, and aims to empower the transformation of accounting professionals in the era of digital inteligence in China.

Candidates who register for the first exam session of the DMA Programme on 27 August (DMA I) will have the opportunity to receive a DMA Metaverse Landing Token with a unique digital code on CGMA's WeChat channel.

With a unique identification code and metadata, each encrypted NFT is an exclusive and irreproducible link between the DMA Programme and it first cohort of candidates.

About DMA® NFT

A non-fungible token (NFT) is a digital asset with unique identification codes and metadata located within a blockchain, a form of distributed ledger. The DMA® NFT Collection, DMA Metaverse Landing Token, celebrates the launch of the DMA Programme in China and the first exam session scheduled later this month. The limited-edition NFT collection is not for sale, it is a commemorative gift for candidates taking the DMA I exam in 2022.

About the DMA® Programme

The Digital Management Accounting ® Programme (DMA®) was officially launched in China at the Sino-British International Professional Talent Exchange and Training Seminar, jointly organised by the Ministry of Science and Technology of the People's Republic of China and the UK' Department for International Trade on 8 June 2022. The launch of the DMA Programme marks the first major milestone for AICPA & CIMA and the China International Talent Exchange Foundation (CITEF) in the introduction of new knowledge frameworks to China.

The DMA® Programme focuses on the digital mindset skills outlined in AICPA & CIMA's CGMA competency framework. It will help promote a strong digital management accounting knowledge and certification system in China, and jointly cultivate internationally scarce high-end talent with a global vision, digital mindset, and advanced management accounting skills in the country.

About the Association of International Certified Professional Accountants, and AICPA & CIMA

The Association of International Certified Professional Accountants® (the Association), representing AICPA® & CIMA®, advances the global accounting and finance profession through its work on behalf of 689,000 AICPA and CIMA members, students and engaged professionals in 196 countries and territories. Together, we are the worldwide leader on public and management accounting issues through advocacy, support for the CPA license, the CGMA designation and specialised credentials, professional development and thought leadership. We build trust by empowering our members and engaged professionals with the knowledge and opportunities to be leaders in broadening prosperity for a more inclusive, sustainable and resilient future.

The American Institute of CPAs® (AICPA), the world's largest member association representing the CPA profession, sets ethical standards for its members and U.S. auditing standards for private companies, not-for-profit organisations, and federal, state and local governments. It also develops and grades the Uniform CPA Examination and builds the pipeline of future talent for the public accounting profession.

The Chartered Institute of Management Accountants® (CIMA) is the world's leading and largest professional body of management accountants. CIMA works closely with employers and sponsors leading-edge research, constantly updating its professional qualification and professional experience requirements to ensure it remains the employer's choice when recruiting financially trained business leaders.

SOURCE AICPA & CIMA

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