CIMA also know as Chartered Institute Of Management Accountants (Full Form) 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 is CIMA 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. Since the CIMA has a tie-up with the US CPA board, with a degree in CIMA and 36 months of practical experience you can qualify for an additional 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 Full Form||Chartered Institute Of Management Accountants (CIMA)|
|Complimenting degree||BBA, B.Com, ACCA, CFA, CFA and MBA|
|CIMA course duration||2 to 3 years bifurcated in 4 levels|
|Exam Paper Structure||Bifurcated in four levels
|Exam Fees||£2,500 – £3,000|
|Average Passing Percentage||50% to 60%|
|Top hiring companies for CIMA||A H Worth & Co Ltd
Acuity Knowledge Partners Lanka (Private) Limited
|Average Salary||INR 5 LPA to 8 LPA|
Want to know what you’d be learning about while pursuing CIMA? Here’s a complete overview of the CIMA syllabus and learning concepts.
CIMA Certificate Level
- Fundamentals of Business Economics
- Fundamentals of Management Accounting
- Fundamentals of Financial Accounting
- Fundamentals of Ethics, Corporate Governance, and Business Law
CIMA Operational Level
- Introduction to organisations (25%)
- Managing the finance function (15%)
- Managing technology and information (15%)
- Operations management (15%)
- Marketing (15%)
- Managing Human Capital (15%)
CIMA Management Level
- Introduction to Strategic Management and Assessing the Global Environment (30%)
- The human aspects of Organisation (20%)
- Managing Relationships (20%)
- Managing Change through projects (30%)
CIMA Strategic Level
- Interacting with the organisation’s Environment (20%)
- Evaluating Strategic position and strategic options (30%)
- Leading Change (20%)
- Implementation Strategy (15%)
- The Role of Information systems in organisational strategy (15%)
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), in the year 2015, signed an MOU stating that they would enable a more seamless entry for members of both professional bodies effective 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 – 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.
Wondering what are the eligibility requirements 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 O-level or an intermediate or 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.
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.
What is CIMA qualification equivalent to?
The CIMA qualification is equivalent to a Master’s degree in Finance. This qualification is globally recognised and widely accepted
Is CIMA an accountant?
Yes, a CIMA graduate becomes a qualified management accountant that takes on professions like Finance Manager, Management Consultant, Management Accountant, Finance Business Partner, Financial Accountant, Business Analyst, Accounts Assistant, etc.
What is CIMA course eligibility?
A CIMA degree can be pursued after clearing the 10+2 examinations. The course can be joined in addition to regular graduation courses as well.
Is ACCA better or CIMA?
As per the reviews by industry experts, ACCA offers a stronger grounding in accounting concepts while CIMA is more of a management and business strategy course. In terms of accounting knowledge, CIMA is not at par with ACCA.