CIMA: Course, Syllabus, Exemptions, Eligibility

CIMA, also known as the Chartered Institute of Management Accountants course, is a popular course in the field of management accounting. CIMA is the world’s largest professional body of Management Accountants. The head office of the CIMA course is in London, United Kingdom.

At this point, you must be wondering what CIMA is all about. What are the job opportunities available after completing this course? Is CIMA globally recognised? What are the eligibility criteria for CIMA? And so on.

The answers to all your questions are right here in this article. Let’s find out more about CIMA as a course and a career.

What is CIMA?

CIMA is a management accounting course that prepares you for an exciting career in finance sectors like banks, audit firms, investment banks, IT sectors, and even e-commerce. After completing the Chartered Institute of Management Accountants course, a candidate can explore jobs in professions like Treasury Management, Corporate Finance, Business Analysis, Financial Reporting, Financial Analysis, Project Finance, and Risk Management. Because the CIMA has a partnership with the US CPA board, a CIMA credential and 36 months of practical experience allow you to get an extra CGMA designation.

CIMA Course Details

To dive deep into what CIMA is and what your learning journey might look like if you happen to choose this course, here are some quick details on the CIMA course.

CIMA Syllabus:

Want to know what you’d be learning about while pursuing CIMA? Here’s a complete overview of the CIMA syllabus and learning concepts.

Certificate Level

BA 1 : Fundamentals of Business Economics
BA 2 : Fundamentals of Management Accounting
BA 3 : Fundamentals of Financial Accounting
BA 4 : Fundamentals of Ethics, Corporate Governance, and Business Law
Exam: 4 Objective-type Exams
Award: CIMA Certificate in business accounting, CIMA cert BA

Operational Level

E1 : Organisational Management
P1 : Management Accounting
F1: Financial Reporting and Taxation
Exam: 3 Objective Type Exams and 1 Case study Exam
Award: CIMA Advanced Diploma in Management accounting (CIMA ADV DIP MA)

Management Level

E2 : Project and Relationship Management
P2 : Advanced Management Accounting
F2 : Advanced Financial Reporting
Exam : 3 Objective Type Exams and 1 Case study Exam
Award : CIMA Advanced Diploma in Management accounting (CIMA ADV DIP MA)

Strategic Level

E3 : Strategic Management
P3 : Risk Management
F3 : Financial Strategy
Exam: 3 Objective Type Exams and 1 Case study Exam

CIMA Exemptions

If you’re wondering whether the CIMA institute does or does not offer exemptions, we have some good news for you. The CIMA course does offer exemptions in certain cases. What’s more? The Institute does not levy any additional charge on the exemptions availed.

CIMA, or the Institute of Cost Accountants of India (ICMAI), signed an MOU in 2015 that stated a more seamless entrance process for members of both professional bodies beginning in March 2015.

The members of ICMAI with specific degree qualifications or work experience would be provided with an exclusive pathway route by CIMA and allowed exemptions for 16 exams: the CIMA Certificate in Business Accounting (5 exemptions) and Professional Qualification (11 exemptions), leading up to the strategic case study exam. To complete the professional qualification, an ICMAI member would have to take only 1 exam, the strategic case study.

What is CIMA Eligibility?

Wondering what the eligibility requirements are for enrolling for CIMA? Here’s all you need to know about CIMA eligibility.

• To enrol for the CIMA course, you either need a class 10th passing certificate or an O-level or an intermediate or an A-level.
• You can also enrol for the course with an undergraduate or graduate degree in any field. 
• For an easy entry into the CIMA course, the best route is an MBA degree or a professional accounting qualification.

Is CIMA the Right Career Path for You? Explore Your Options

We hope that with this detailed article on the Chartered Institute of Management Accountants (CIMA), you have received an in-depth understanding of what the profession looks like and what to expect. If you are interested in getting into this exciting and equally dynamic field, then pursuing a CIMA degree would be a good choice. However, if you are looking to become a Management Accountant in a shorter duration, then US Certified Management Accounting is what you should be pursuing. To know more about the Certified Management Accountant course, click on the WhatsApp icon at the side of this blog and get in touch with our experts directly.

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FAQs on What is CIMA:

Who is eligible for the CIMA course?

To be eligible for CIMA, you generally need strong English language skills and a relevant degree (accounting/finance preferred). If you lack a degree, you can start with the CIMA Certificate in Business Accounting. Existing accounting qualifications or an MBA can also provide exemptions, allowing direct entry at higher levels.

What is each CIMA level, and what does it cover?

CIMA has five levels: Certificate in Business Accounting (fundamentals), Operational (short-term decision-making), Management (resource management), Strategic (long-term strategy and risk), and Professional Competence (integrating knowledge via case studies). Each level builds on the last, covering critical aspects of management accounting for business leadership.

What are the exemptions for CIMA courses?

CIMA offers exemptions for students holding relevant degrees like accounting, finance, or business, or professional qualifications like ACCA, CA, or MBA. The number of exemptions depends on the relevance and depth of your prior studies. You apply directly to CIMA with your transcripts for assessment.

Who is eligible for CIMA exemptions from ACCA?

ACCA members can receive significant CIMA exemptions. If you’ve passed all 14 ACCA exams, you’re exempt from all four Certificate Level exams, three Operational Level exams, and three Management Level exams, including the Operational Case Study. This often means you can start at the Strategic Level.

Does CIMA give CFA exemptions?

No, holding a CIMA qualification does not grant exemptions for the CFA program. The CFA Institute has a strict policy: all candidates must pass each of the three levels sequentially. There are no exemptions based on prior academic degrees or other professional certifications.

What is the CIMA qualification equivalent to?

In India, the CIMA qualification is highly respected in management accounting. While not a direct university degree equivalent, it’s globally recognised at a master’s level. It strongly enhances career prospects in finance, business partnering, and strategic leadership roles within multinational corporations and large Indian companies.

Satyamedh Nandedkar, a seasoned finance professional, holds ACCA, CA, US CMA & CS credentials. With 10+ years of experience, he’s a master ACCA tutor, IFRS trainer, adept in global financial standards, and a trusted advisor in navigating complex financial landscapes.