Working together to transform the finance function. recruit retain develop

Transcription

1 Working together to transform the finance function recruit retain develop

2 CIMA, the Chartered Institute of Accountants, is acknowledged by employers as the global quality standard in management accounting with 171,000 members and students operating at the heart of business in 165 countries. CIMA is the first choice for financially qualified business leaders. Because CIMA members are management accountants they have broad ranging business and management skills to complement their financial training. That s why many of the world s largest employers believe CIMA members are best qualified to drive business performance, not just measure it. Investing in your business and reducing costs is at the forefront of your mind when outsourcing or merging your finance function. The people who work in Shared Service Centres (SSC) and Business rocess Outsourcing centres (BO) are important in helping the business achieve its objectives. CIMA works with many organisations that have outsourced their F&A function or operate their own SSC s. We recognise the importance of global and consistent training and development standards to satisfy the needs of both the organisation and the clients you work with, particularly as 93% of global 1000 companies are now operating a captive SSC, Business Centre or use an outsourcing provider (Source: The Hackett Group 2009). CIMA is well suited to moving your way up through a Shared Service Centre. Christopher oulopoulos CIMA student and project co-ordinator Shell Shared Service Centre Scotland The CIMA difference Many of the world s SSC, BO and KO (Knowledge rocess Outsourcing) centres are working to support their staff through the CIMA qualification framework as it recognises their business objectives and clients needs by equipping employees to: work to a consistently high standard throughout the world operate as business partners make and support key decisions manage risk and change in today s challenging business climate. CIMA combines the rigour of an accounting qualification with the business skills needed to offer strategic advice. Independent research from Bath University has concluded that CIMA members are better qualified to contribute to sustainable business success. CIMA Certificate in Business Accounting The CIMA Certificate in Business Accounting is the entry route into CIMA and is a qualification in its own right, based on students acquiring a broad range of knowledge across financial and management accounting. CIMA supports employers that require all transactional based employees to complete the CIMA Certificate in Business Accounting qualification to ensure a global standardisation of skills.

3 Award - Member of the Chartered Institute of Accountants CIMA Chartered Accounting qualification The CIMA rofessional Qualification is updated regularly to reflect the fast changing pace of the SSC and BO industry. Because we consult frontline managers and company directors all over the world on the skills they require, you can ensure what your staff learn is relevant. The key features include: The CIMA qualification framework is progressive, enabling your staff to obtain formal recognition after successful completion at each level. The CIMA Diploma in Accounting requires students to demonstrate comprehension and application, leading to an assessment of analysis required by the CIMA Advanced Diploma in Accounting. As you progress through the qualification, the focus shifts from knowledge based learning, to application and analysis which equips staff with consultative business skills. A combination of three years practical experience, successful completion of the exams and a business case study will ensure your staff have the skills required by employers to add value in any business. rofessional competence level Strategic level level Operational level art A Initial rofessional Development Work Based ractical Experience. aper E3 aper E2 aper 3 aper 2 aper F3 Award - CIMA Advanced Diploma in Accounting Award - CIMA Diploma in Accounting aper F2 aper E1 aper 1 aper F1 re-requisite entry requirements (e.g. CIMA Certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level). aper C01 of Accounting T4 Test of rofessional Competence in Accounting pillar Award - CIMA Certificate in Business Accounting aper C02 of Accounting pillar aper C03 of Business Mathematics art B Case Study Examination based on pre-seen and unseen material. aper C04 of Business Economics pillar aper C05 of Ethics, Corporate Governance and Business Law

4 All three pillars of the CIMA rofessional Qualification contain content relevant to the SSC and BO industry: pillar The CIMA qualification has more focus on management and strategy than any other accountancy qualification: economic, social and political factors that affect international business finance in a business partnering context business process improvements and management data quality management lean and six sigma management, negotiation, change management and leadership skills. aper E3 aper E2 aper E1 er S er Ma er Op pillar aper E3 aper 3 Fi S The CIMA qualification has a greater emphasis on risk management than any other accountancy qualification: aper E2 performance management and business intelligence to provide higher value analysis understanding the business drivers to increase profitability identifying, assessing and managing financial and non-financial risks developing risk management strategies to protect the business. aper E1 aper 2 aper 1 Fi Man Fi Op pillar aper E3 One third of our syllabus is dedicated to financial accounting and reporting: aper 3 aper F3 preparing, analysing and interpreting financial statements applying international standards and regulatory principles evaluating financing requirements designing and managing financial strategy. aper E2 aper E1 aper 2 aper 1 aper F2 aper F1

5 Train and develop your staff within SSC and BO centres CIMA works with employers that require their urchase to ay and Order to Cash staff to complete the CIMA Certificate in Business Accounting, to guarantee a global standardisation of skills. Finance staff can continue their studies to gain the Diploma in Accounting, and those who aspire to become strategic business managers of the future can go on to complete the full professional qualification. Working with CIMA will support your organisation s talent management agenda, to recruit, develop and retain the right people. Studying for CIMA There are several study options available. Face-to-face tuition is popular but we also have relationships with third party tuition providers in many countries. CIMAstudy.com is CIMA s online learning solution which offers a dynamic and innovative way to learn and can be accessed anywhere at anytime. Along with study texts, students can use a combination of these study options to create an effective blended training solution. Typical roles of CIMA professionals within SSC and BO centres: rocure to pay rocurement and administration Invoice/expense processing and payment Accounts payable Order to cash Accounts receivable Billing and cash application Order management Credit control Collections Record to report General accounting Fixed assets Reconciliations Month end reporting and consolidation Tax filing and reporting Cost accounting Inter-company accounting Statistics reporting Decision support Budgeting Forecasting Variance analysis reporting Corporate functions Treasury Cash management planning and analysis Tax and compliance Decision support accounting IBM Slovakia started a partnership with CIMA based on our business need to professionally train and develop our growing finance population, and to achieve this in the most efficient and effective way. The CIMA rofessional Qualification fits in with the training needs of our finance staff. Marian Bodi CFO Mainframe CEEMEA System & Technology Group Slovakia

6 Next step? CIMA has a global business development team dedicated to supporting the training and development of staff within SSC and BO centres across the UK, Europe, Malaysia, India, Brazil and China. Contact Tracey O Leary for an initial discussion about the training and development needs of your finance staff: Tracey O Leary SSO Strategic Account Manager E. tracey.o leary@cimaglobal.com T. +44 (0) M. +44 (0) For more information about CIMA visit the following website links: Register as a CIMA student Registration and exam fees Exemptions from CIMA exams CIMA tuition colleges Computer based assesment centres Exam centres CIMA Training employers CIMA syllabus ast exam papers and study guides ractical experience requirements Country specific information Student case studies Online learning solution Chartered Institute of Accountants 26 Chapter Street London SW1 4N United Kingdom T. +44 (0) F. +44 (0) E. bdc@cimaglobal.com