General Background to CIMA

The CIMA Course (Chartered Institute of Management Accountants) was founded in the UK. It is a proficient institute that is renowned all over the globe. It gives aspirants training to obtain CIMA qualification. CIMA course gives you expertise in finance, provides you with the skills to make key decisions in business and advise others of the financial implications. It is also seen as a passport to global employment. CIMA course is the first choice for employers, with members and students spread across 176 countries worldwide.

What We're All About

CIMA course qualified personnel have an extensive strategy in business compared to their non-CIMA qualified counterparts. They involve more management accounting techniques. This qualification enables you to take up jobs within and outside the financial sphere. There is equal emphasis given to management and accounting; thus making it wider in scope.

CIMA members are qualified to engage in a wide variety of activities like Project Finance, Management Accounting, Financial Analysis, Forensic accountancy, business analysis, etc.

Who should do CIMA?

Any graduate or undergraduate, who is good in mathematics and wants to make a global career in Financial Accounting & Business Analysis, should do CIMA course. CIMA accountants are held in high esteem and are in great demand because of their strategic and managerial focus, as well as their broad skill-set.

What does a management accountant do?

 

Officially, management accountants help businesses all over the world manage their finances. But in reality, there’s so much more to it than that. They are business leaders. Innovators. Decision makers. Forecasters. There’s no one industry or role that they work in: you’ll find management accountants in all kinds of companies, public and private, big and small.

 

Day to day, they interpret financial data, prepare reports and use business knowledge to help management make decisions. They’ll always be looking to the future and figuring out ways to improve things for the company.

 

In short – they’re pretty important. 

Eligibility:

Completion and passing of 12th exams

 

How to become CIMA Qualified? 

CIMA course is offered by CIMA Institute. The candidate is required to study for and pass 4 levels of exams and meet other requirements.

 

The Course Structure of CIMA 

The Operational Level 

At the Operational level, the focus is on short term decision making. Once you’ve completed it, you’ll be able to work with others in your organisation and use appropriate data and technology to translate medium term decisions into short term actionable plans. Once you’ve finished the Operational level, you’ll be awarded the CIMA Diploma in Management Accounting (CIMA Dip MA). The courses under the operational level includes:

Managing finance in a digital world               E1

Management Accounting                                   P1

Financial Reporting                              F2

Operational Level Case Study

The Management Level

 

At the Management level, you’ll focus on translating long term decisions into medium term plans. Once you’ve completed it, you’ll be able to use data and relevant technology to manage organisational and individual performance, allocate resources to implement decisions; monitor and report implementation of decisions; as well as prepare and interpret financial statements to highlight business performance. Once you’ve finished the Management Level, you’ll be awarded the CIMA Advanced Diploma in Management Accounting (CIMA Adv Dip MA). The courses under the management level includes:

 

  1. Managing Performance E2
  2. Advanced Management Accounting P2
  3. Advanced Financial Reporting F2
  4. Management Level Case Study

The Strategic Level 

 

The Strategic level focuses on long term strategic decision making. Once you’ve completed it, you’ll be able to support organisational leaders to craft strategy; evaluate and manage risks that might prevent organisations from successfully implementing strategy; value organisations; and source financial resources required to implement of strategy. The courses under strategic level includes:

 

  1. Strategic Management E3
  2. Risk Management P3
  3. Financial Strategy F3
  4. Strategic Level Case Study

Assessment of Practical Experience Requirements (PER)

 

Once you complete the Strategic level, your last step before earning the CGMA designation and becoming a CIMA member is to demonstrate that you have a minimum of three years’ relevant work experience (this can be accumulated before, during and after your studies). Your experience is assessed through the Practical Experience Requirements (PER) application.

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