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I want to BE aBusinessle aderNOT a NUMBERcruncherYou’re thinkinglike a managementaccountant alreadyFrom graduate to Chartered Global Management Accountant (CGMA)
What is cima?CIMA is the world’s largest professional body of management accountants, offeringthe most relevant accounting qualification for a career in business – whether or notyou hold a relevant degree.If you are considering a career in finance or business, the CIMA qualification willopen doors for you with top employers all over the world. As a Chartered GlobalManagement AccountantSM (CGMA) you’ll earn more and go further.WHAT IS MANAGEMENT ACCOUNTING?Contents:What is CIMA?3CIMA Certificate in Business Accounting16What is management accounting?3CIMA Professional Qualification19Why choose CIMA?4CIMA’s Undergraduate Club22How much can you earn?5Balancing CIMA and university23How is CIMA different?6Getting started25Employers you can work with8Your study options26Working in consulting10Becoming a CIMA member27Undergraduates/graduates12Find out more28MBA Master’s in Accounting holders14Chartered Global Management Accountants playa vital role in managing business opportunities,using evidence to develop dynamic solutions.Management accountants use information ofall kinds, not just financial, to inform the strategyand help manage the future of a business.Management accounting is about looking beyondnumbers and spreadsheets to add real value to acompany. CGMAs work in all areas of business, in all types oforganisations in both the public and private sectors,all over the world. They work in finance, IT, marketing,HR, operations and senior management positions.They could be project managers, managementconsultants, finance directors or chief executives,and many go on to run their own business.Do you analyse situations and weigh up all youroptions before making a decision? If this soundslike you, you’re thinking like a managementaccountant already.There’s more to management accounting than you mightthink. It includes, and adds value to, financial accounting.35
Why choose CIMA?By studying the CIMA qualification and going on tobecome a CIMA member, you will join the world’slargest professional body of management accountants.You will be able to use the Chartered GlobalManagement Accountant (CGMA) designationand be part of a truly global network.The CGMA designation is powered by two of the world’sleading accounting bodies: CIMA and AICPA. It aims toestablish management accounting as the most valuedprofession in business worldwide.HOW MUCH CAN You EARN?The CIMA Code of Ethics is what sets CIMA (and you) apartfrom other qualifications. Practising ethical decision-makingand reflecting on your skills as a finance professional will bean integral part of your CIMA studies.Boosting your university degree by adding ‘CIMA student’to your CV gives you a huge advantage in the job market,as it shows employers that you’re dedicated, hard working,commercially aware and serious about your future.You can see from the diagram how your investment instudying and exams is quickly rewarded as you progressthrough the CIMA qualification.This is an indication of what you could earn.Salaries vary considerably by region and sector.Source: 2014 CIMA salary surveyAnd if you’re already working, the CIMA qualification willincrease your chances of progressing to a more seniorposition and earning more.Who is CIMA for?Anyone can study CIMA, whether you’re newto business and accounting or an experiencedprofessional.If you’re still at university you can start studying the CIMACertificate in Business Accounting now alongside yourdegree, and graduate with an extra qualification. If you’vealready graduated, you can study CIMA regardless of yourdegree subject, but if you do hold a relevant degree (likeaccounting or business) you could be eligible for examexemptions and might be able to progress straight to theCIMA Professional Qualification.University students, graduates and MBA and Master’sholders choose CIMA because it’s the most relevantaccounting qualification for a career in business.4ExemptionsStart at the right level for youDo you already have qualifications? If so, youmay not need to take all of the exams in theCIMA qualification and could be eligible forexemptions. That means you can start yourCIMA studies at the right level for youand qualify sooner.Check which exemptions you could CIMAmemberACMA, CGMACIMAmemberFCMA, CGMA5
How is CIMAdifferent?The CIMA syllabus is unique. It has been designed to blend managementaccounting, financial accounting and business focused subjects to ensureCIMA qualified professionals have the skills that employers demand.Topics coveredonly by CIMATopics covered equallyby CIMA and thecompared qualificationTopics covered inmore detail by CIMAThe below diagram compares the CIMA qualification with otheraccountancy bodies: Management accounting Operationsmanagement Project managementCIMA Marketing and formulationof marketing strategies Management of relationships Auditing and assurance Governance and public policy Principles of taxation Ethics Leading change Management accounting Management informationCIMA Project and relationshipsmanagement Operations management Implementing strategy Project and relationshipmanagement Advanced management accountingCIMAICASICAEW66 Advanced financial reporting Financial management Information systems Taxation Financial accounting Ethics Financial reporting Advanced taxation Advanced management accountingCIPFA Financial accounting External audit Evaluation of risk and responses tostrategic riskCIMA Management control systemsACCA External audit and assurance Taxation complianceTopics covered in moredetail by the comparedqualification Financial accounting Financial reporting Ethics Auditing and reporting Financial accounting The assurance process Financial reporting Internal controls Ethics7
EMPLOYERSProfessionalservices rntonThousands of companies around the world, from multinationals tostart-ups in the public and private sectors, qualify their staff with CIMA.Just some of the companies and roles CIMA people work in are listed below.If you are interested in a career in consultancy or would like to find out moreabout this popular career path, see page 10.RetailMedia andpublishingTelecommsand ITTransport, traveland leisureEngineering andmanufacturingCoca-ColaBootsBBCVodafoneTUI GroupBAE SystemsinnocentASOSITVSiemensHilton WorldwideFordUnileverTescoSkyO2Balfour BeattyNestléJohn LewisCisco SystemsHMRCKimberlyClarkWalt DisneyGuardian MediaGroup GoogleInterContinentalHotels GroupCredit SuisseHighways AgencyDiageoMarks &SpencerJ.P. ic sector nterpriseCitigroupUK GovernmentHSBCMODZurichHere are just someexamples of thetypes of roles CIMAmembers work in:FMCGPearsonVirgin MediaBTTalkTalkDellBritish AirwaysMarriottInternationalNetwork RailGlaxoSmithKlineRolls-RoyceAirbusNational GridTfLInformation management rolesExecutive rolesFinance rolesCommercial rolesOperations rolesBusiness Analysis ManagerHead of Programme ManagementDirector of Information TechnologyChief ExecutiveManaging DirectorChief Financial OfficerFinance DirectorFinance Business PartnerManagement AccountantCommercial DirectorMarketing ManagerManagement ConsultantHuman Resources ManagerProject ManagerOperations DirectorFind and apply for the latest jobs and graduate schemes on CIMA’s international job site: www.cimaglobal.com/myjobs8If you want to study CIMA while working, it’s a good idea to find an employer who will support you while you study and help yougain valuable workplace experience. Thousands of companies around the world, from multinationals to start-ups in the public andprivate sectors, qualify their staff with CIMA. Just some of the companies and roles CIMA people work in are listed below.Find a list of employers who meet our training standards and apply directly to them:www.cimaglobal.com/trainingpartners9
WORKING IN CONSULTingWhat do consultants do?CIMA and consultancyConsultants play a vital role in the success of anyorganisation. They use their specialist business knowledgeto provide advice and expertise in areas where anorganisation may be lacking knowledge. They identifyvalue-adding opportunities for the business and suggestrecommendations for change, as well as helpingto implement solutions that maximise growth andperformance.With CIMA you won’t just be financially qualified but alsoprofessionally trained in business management, providingyou with the necessary expertise to successfully advise onbusiness strategy and risk management.The qualification for acareer in consultancyManagement accountants work in all areas of a business,in all types of organisations in the public and privatesectors, all over the world. They work in finance, IT,marketing, HR, operations and senior managementpositions. They could be a project manager, a financedirector or a chief executive, and many go on to run theirown business.Here are some examples of the roles CIMAmembers and students hold within consultancy:CEOFinance and Risk ConsultantBusiness AnalystCFOPartnerManagement ConsultantTechnical ConsultantStrategy And TransformatiomConsultantIT ConsultantFinancial AnalystSenior Managing ConsultantHiren Shah, EYJames Gough, DeloitteMargaret Fowler, KPMGMark Cummings, IBMRole: Senior ConsultantEducation: Economics, University of NottinghamRole: ConsultantEducation: BSc Business Administration, University of BathRole: ConsultantEducation: BSc Commerce, University of VirginiaRole: Senior Finance and Risk ConsultantEducation: Mathematics, University of Warwick‘CIMA means successin the Big Four.’‘CIMA equips me with the skills andknowledge my clients value.’‘As a management consultant,CIMA gives me versatility.’‘CIMA is constantly evolvingwith the times.’11
I want to setagenda sNot TAK EMINUTESUndergraduates / graduatesUniversity to CIMA at a glance:Graduates in any degree discipline can study CIMAExemptions available if you have completed a relevant degree Option to begin your CIMA studies while at university and graduate with a head startin the job market.Studying CIMA after university and boosting yourdegree with a professional qualification is a strongcareer move. You’ll gain new, employable business skillsand experience, and you’ll impress potential employersjust by adding ‘CIMA student’ to your CV.You can even begin your CIMA studies while at universityand graduate with a head start in the job market. Youdon’t need a relevant degree to start your CIMA studies;graduates in any degree discipline can study CIMA. You’llstart with the CIMA Certificate in Business Accounting. It’sa recognised qualification in its own right and can also bea stepping-stone to the CIMA Professional Qualification.If you’ve already completed a relevant degree, likeaccounting or business, you may be entitled toexemptions from some CIMA exams, allowing you toprogress onto the Professional level sooner.Find out more: www.cimaglobal.com/graduaterouteStudy CIMA while at universityYou’re thinkinglike a managementaccountant alreadyTo boost your CV and stand out to employers why not startstudying the CIMA Certificate in Business Accounting?There are lots of resources available to help you get throughyour CIMA studies while you are at university.For more information and support, visit www.cimaglobal.com/unistudent13
I want toMakeDecisionsNot informThemMBA and Master’s inAccounting holdersMaster’s to CIMA at a glance:Accelerated entry to the CIMA Professional Qualification for MBA or Master’s inAccounting holdersSkip 12 exams and qualify soonerBe equipped with the up-to-date knowledge and practical experience employers are looking for.If you hold a Master’s or MBA in Accounting, youcan take the accelerated Master’s Gateway routeto the CIMA Professional Qualification. You’ll justneed to pass the CIMA Gateway exam, which isa three-hour computer-based case study exam,available four times a year.Once you’ve passed the CIMA Gateway exam, you’ll beexempt from 12 exams and can progress straight to thestrategic level of the CIMA Professional Qualification, thefinal step towards CGMA status.As a CIMA student, you’ll have exclusive access toCIMAconnect, the online study support community.There you’ll find free resources such as past papers,practice exams, blogs and discussions about the Master’sGateway route.There are two study options available:You’re thinkinglike a managementaccountant alreadyMaster’s Gateway – assessment only (includes CIMAregistration, first year’s subscription fee, one exam attemptand all 12 exemptions).Master’s Gateway package (includes CIMA registration,first year’s subscription fee, one exam attempt, all 12exemptions and CIMAstudy.com online study modules).Find out more: www.cimaglobal.com/mastersroute15
Cima certificate inBusiness accountingCertificate details:Entry requirements:None. It’s open to allNumber of exams:Five two-hour,computer-based examsThe Certificate in Business Accounting is CIMA’sentry-level accounting qualification, so you canstart it now even if you haven’t finished universityyet or your degree isn’t in a relevant subject.It offers you the opportunity to develop your businessand financial knowledge, whatever career path you wantto take. It’s a valuable qualification in its own right: uponcompletion you will be awarded the CIMA Certificate inBusiness Accounting and can use the letters CIMA CertBA after your name. It is also a stepping stone to theCIMA Professional Qualification, which leads to CharteredGlobal Management Accountant (CGMA) status.Exam dates:All year roundCompletion time:12-18 months on averageWork experience required:NoneLetters after your name:CIMA Cert BA16The five certificate syllabus modulesC01Fundamentals ofManagement AccountingC02Fundamentals ofFinancial AccountingC03The syllabusFundamentals ofBusiness MathematicsThe five modules that make up the CIMA Certificatein Business Accounting are completely flexible andcan be sat any time throughout the year. You canstudy the subjects in any order and choose anycombination to suit you.C04All Certificate in Business Accounting subjects are examinedby computer-based assessment at centres around the world.You’ll get feedback straight after your assessment with nowaiting around to find out if you’ve passed. Students whocarefully plan and commit to their studies can completethe CIMA Certificate in Business Accounting within12-18 months.C05Fundamentals ofBusiness EconomicsFundamentals of Ethics,Corporate Governanceand Business Law Basic costing Budgets Accounting and cost systems Regulatory framework Preparing accounts Accounting systems and controls Basic maths Probability Financial maths Forecasting Economic environment Analysis for business decisions Market economy and role of government Elements of contract Company law Administration and finance Applying legal knowledge17
Cima professional qualificationStructure andorder of completionThe syllabus is built on three pillars:enterprise, performance and financial.There are also three distinct levels:operational, management and strategic.The three levels must be completed one at atime. The three exams within each level areassessed by on-demand, computer-basedobjectives tests. To complete a level you mustpass all three objective tests (or have beengranted exemptions) plus the integrated casestudy which can be sat four times a year.“I’M THE PERSONWHO ALWAYSDIVIDES THE BILL”Upon completion of each level you will beawarded interim qualifications and lettersafter your name.The CIMA Professional Qualification:Entry requirements –one of the following: CIMA Certificate in Business Accounting Relevant degree in accounting or business AAT Level 4 Diploma in Accounting MBA or Master’s in Accounting.Number of exams and exam duration:Objective tests – nine at 90 minutes eachIntegrated case studies – three at three hours eachExam sittings: Objective tests (computer-based) – on demand I ntegrated case studies (computer-based) –four sittings per yearCompletion time:Between three and five years on averageWork experience required:None required to complete the qualification, but threeyears’ work experience is required for CIMA membershipLetters after your name:You’re thinkinglike a managementaccountant alreadyDesignations are awarded upon completion of each level: Operational level – CIMA Dip MA Management level – CIMA Adv Dip MA CIMA member – ACMA, CGMA CIMA fellow – FCMA, CGMA19
The syllabusCIMA Professional Qualificationsyllabus details:AWARD / Membership of the Chartered Institute ofManagement Accountants and the CGMA designationAssessment of practical experienceSTRATEGICThe levelsLEVELAs a management accountantyou will be looking beyond thenumbers to inform the strategyof the business. The CIMA pillarsare therefore designed to covernot just finance but also a rangeof other business areas. Thebelow outlines what will becovered in each pillar:Enterprise – develop strategyand plan for effectiveimplementation.Performance – monitor activityto ensure strategy is realisticand has been implementedeffectively.Financial – prepare andinterpret financial statementsin order to understandperformance and informdecisions.The levelsThe three distinct levelsencourage progressive, constantdevelopment of knowledge,ensuring you have the skillsbusinesses need.Operational level considersimplementation of short-termdecision-making, mirroring thework undertaken by first linemanagers and their teams.Management level considersanalysis, ensuring successfulperformance. This is in thecontext of the medium-term,and reflects work undertakenby middle managers.Strategic level takes intoaccount long-term strategicdecisions, and the provision ofresources to implement thesedecisions successfully. This isthe work generally undertakenby senior management.The examsExams for the CIMA ProfessionalQualification are examined by computerbased assessment. Each level consists ofthree objective test exams, which youmust pass (or have exemptions from)before proceeding to the integrated casestudy exam.The objective tests are available ondemand and can therefore be sat all yearround. The integrated case studies areexamined by computer-based assessmentand can be sat four times a year.There is no time limit to complete theCIMA Professional Qualification so youcan study at your own pace. The examsare designed to provide flexibility so thatyou can fit them around your lifestyle.However, on average a student willcomplete the Professional Qualificationwithin four gementP3Risk ManagementAWARD / CIMA Advanced Diploma in Management AccountingManagement Case Study ExamManagementlevelOPERATIONALLEVELE2Project ntingF2AdvancedFinancialReportingAWARD / CIMA Diploma in Management AccountingOperational Case Study RPRISE PILLARCERTIFICATELEVEL20F3Financial StrategyPractical experience / lifelong learningThe pillarsStrategic Case Study ExamP1ManagementAccountingPERFORMANCE PILLARF1FinancialReporting andTaxationFINANCIAL PILLARAWARD / CIMA Certificate in Business AccountingThe pillarsPre-requisite entry requirements(e.g. CIMA Certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level).www.cimaglobal.com/study2015Paper C01FundamentalsPaper C02FundamentalsPaper C03FundamentalsPaper C04FundamentalsPaper C05Fundamentals of2321
CIMA’s Undergraduate CLubWhatever your degree subject, if you’re a UK university student you canjoin CIMA’s Undergraduate Club for free, even if you’re not studying CIMA.JOIN ThEclUB aNd GETa cOMPETITIvEEdGEBy signing up, you’ll be giving yourself a head start in the job market, finding outabout the latest vacancies and connecting with other students, all for free.Join today and:Students1HomeGet business readyShow employers you careUpskill for the job youwant with free seminarsand expert tipsInvest in your future and proveyour dedication and the valueyou can add to any businessYour communityFind a jobResourcesBe the first to find outabout graduate jobs andapprenticeshipsNetwork at free events andcareer fairsUsername / EmailPasswordLog-inAcademicsWhatever your degree subject, if you’re astudent at any UK university you can join the CIMAUndergraduate Club for free today and get aheadin your career, even if you’re not studying with CIMA.Register now!Find out moreKick start your careerWelcome to the CIMA Undergraduate Club. As a member, you have exclusive access to expert tips, career advice,job ads and industry insight – all the resources you need to land the job of your dreams. So, let’s get started:Recommended postsTrending postsFind out more about CIMAGlobal Business ChallengeHow I split my study andsocial timeVit harum aut idel idemquo omnimag nisquodmo tempori nitas aut labo sitenda sus.Vit harum aut idel idemquo omnimag nisquodmo tempori nitas aut labo sitenda sus.Ugiant. Luptassitae eosandit, queasperumet as dusandita que ni coraede sit, nullenime voloren tistio Itat.How I split my study andsocial timeUgiant. Luptassitae eosandit, queasperumet as dusandita que ni coraede sit, nullenime voloren tistio Itat.www.cimaglobal.com/gbc3Sophie Dawson 9See more postsGet noticedPost somethingGET ThEcOMPETITIvEEdGECIMASeek out opportunities1Get charteredEmployers1Find out more about CIMAUgiant. Luptassitae eosandit, queasperumet as dusandita que ni coraede sit, nullenime voloren tistio Itat.See more postsJoin the club and geta competitive edgeTop contributorsEmployer profiles1Louise ThomasLevel 102StudentsLevel 10SkyKPMGVit harum aut idel idemquo omnimag nisquodmo tempori nitas aut labo sitenda sus.Vit harum aut idel idemquo omnimag nisquodmo tempori nitas aut labo sitenda sus.EmployersAcademicsAlistair TaylorUsername / Email3Nathan TaylorWright4Sophie DawsonPasswordLevel 10Log-inLevel 10See more profiles5Sian JonesLevel 10Register now!Or find out more.82Your profileLevel 1Edit your profileEarn more pointsYour community CIMASecure your dream jobBe inspiredPrepare for your big momentwith our top interview tips andindustry updatesRead CIMA members’ successstories and find out how theymade it to the top.Find out more about CIMARegister as a studentShare this lobal.com2223
“I’m always looking at waysto improve performance”Getting startedStep 1: Register as a CIMA studentRegister as a CIMA student at www.cimaglobal.com/register or by callingone of our student advisers on 44 (0)20 8849 2251.Step 2: Apply for exemptionsEmail copies of any transcripts and certificates to documents@cimaglobal.com.We will then advise you if you are eligible for any exam exemptions.?Step 3: Choose your study optionCIMA can be studied in a number of different ways to suit your preference andlifestyle. Find out more about your study options on page 30.Step 4: Schedule your examsExam entry is open all year round for the CIMA Certificate in Business Accountingand the CIMA Professional Qualification objective tests. For integrated casestudies there are exam entry windows – see our website for details.Log into your MY CIMA account with your ID and password which you wouldhave received upon registration as a CIMA student. Select ‘Schedule your exam’and follow the instructions.You’re thinkinglike a managementaccountant alreadyVisit www.cimaglobal.com/ukstudents for further information or call a studentadviser if you require assistance on 44 (0)20 8849 2251.2525
Study optionsDo plenty of research before choosing how to studyCIMA. Make sure the option you pick will suit youand the way you learn best.Taught courses with a tuition providerYou can follow a taught course with one of the many globalcourse providers that teach CIMA. Tuition, where available,can be a great study option because you’ll get support fromother students and can ask your tutor questions.Study with official CIMA textbooks and studymaterialsBecoming a cima memberCombining study methods with blended learningIf you’d like to choose when and where you study but wouldalso benefit from some tutor support, combining your studymethods may be the best option for you. For example, youmight decide on a distance learning course followed by ataught revision course.Study online with CIMAstudy.comYou can start any time, study any time and sit any time.The courses are designed and delivered through e-learningand also offer email tutor support.For more information on study options and course providersin your area, visit www.cimaglobal.com/studyoptionsYou can use the official CIMA textbooks and study materialsto supplement your taught course or distance learning. Youcan also use these materials for home study, which requireshigh levels of discipline and self motivation but is the mostflexible and cost effective option.Before qualifying as a CIMA member, you mustshow that you have at least three years’ relevantwork-based practical experience. That way,employers know that you belong to a communitywith the skills they’re looking for.CIMA members around the world have a duty to observethe highest standards of conduct and integrity, and touphold the good standing and reputation of the profession.To find out more, visit: www.cimaglobal.com/ethicsPractical experience requirements (PER)Some or all of the three years’ practical experience requiredcan be gained before registering as a CIMA student andcan be carried out with more than one employer. The workexperience is broken down into different areas, reflectingthe wide range of functions carried out by managementaccountants.For tips on gaining and recording your practical experience,visit: www.cimaglobal.com/ukperHow muchwill it cost?CIMAconnectOne of the advantages of being a CIMA student is having an online platform designed exclusively to support yourstudies. CIMAconnect is a mobile-friendly study support platform that lets students access free study material andhave discussions with other students about their experience, anywhere, any time. Visit connect.cimaglobal.com26*Accredited in ScotlandCIMA students pay a one-off registration fee, anannual subscription fee and a fee for each exam orexemption. Check our fees list for more information:www.cimaglobal.com/feesYou also need to take into account the cost of study materialsand any tuition classes you take. Tuition fees are chargedseparately and are paid directly to the course provider.Practical experience requirements (PER)Experience may be drawn from any of the followingthree areas over a period of three years or more(but a minimum of 18 months must be gainedwithin the core area). Relevant experience gainedbefore registering as a student will also count.Area 1 - basic experience1a.1b.1c.1d.Preparing and maintaining accounting recordsStatutory and regulatory reportingIT desktop skillsSystems and procedure developmentArea 2 - core experience2a.2b.2c.2d.2e.2f.2g.2h.2i.Preparation of management accountsPlanning, budgeting and forecastingManagement reporting for decision makingProduct and service costingInformation managementProject appraisalProject managementWorking capital contentRisk management and business assuranceArea 3 - supplementary experience3a.3b.3c.3d.3e.3f.3g.Financial strategyCorporate financeTreasury managementTaxationBusiness evaluation and appraisalBusiness strategyExternal relationships27
Chartered Institute ofManagement AccountantsFIND OUT MOREChartered Institute ofManagement AccountantsWe have a friendly bunch of CIMA advisers on hand to talk to, and a variety of ways you can get in touchto find out more.Keep in touch to makesure you don’t miss out onimportant news from CIMA:Talk to a CIMA adviseron the phoneCall: 0208849 2251Sign up for our monthly email bulletin:www.cimaglobal.com/bulletinFor opening hours visit:Like CIMA UK on Facebook:www.facebook.com/cimaukJoin our undergraduate global.comFollow CIMA on Twitter:twitter.com/cima uk eventsVISIT our Virtual Open Daywww.cimaglobal.com/virtualopenday
largest professional body of management accountants. You will be able to use the Chartered Global Management Accountant (CGMA) designation and be part of a truly global network. The CGMA designation is powered by two of the world's leading accounting bodies: CIMA and AICPA. It aims to establish management accounting as the most valued
