Dave Rowsby CIMA Regional Director, Europe. CIMA Certificate in Business Accounting Engineers Ireland. 20 November 2014

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1 Dave Rowsby CIMA Regional Director, Europe CIMA Certificate in Business Accounting Engineers Ireland. 20 November November 2014

2 Agenda What is Management Accounting CIMA who are we CIMA qualifications The CIMA Certificate in Business Accounting Study Options Price What to do next Questions 2

3 Finance for Engineers The current economic environment requires professionals operating in any commercial business to really understand the nuts and bolts of business and finance, whatever their professional discipline. This is particularly applicable in the world of engineering where design and viability are so inextricably linked with cost and return on investment. Being a brilliant technical engineer will make for excellent employment prospects but employers increasingly will also want to see evidence of commercial acumen and hard financial skills it is no longer something that is the sole responsibility of the finance team. 3

4 CIMA Certificate in Business Accounting Your entry into the world of finance A fundamental grounding in business and finance is essential for all engineering professionals operating in today s challenging business environment. The CIMA Certificate in Business Accounting introduces you to the world of finance and business management and is a recognised qualification in its own right Also an excellent opportunity for continuous professional development for those who wish to build an understanding of finance for business, while also offering the opportunity to enhance their CV and help progress their career. The Certificate in Business Accounting can also be a stepping stone to the CIMA Professional Qualification for those interested in becoming a Chartered Management Accountant. 01 December

5 What is management accounting? CIMA people are highly valued in business as they can Guide critical business decisions Provide valuable strategic advice Combine financial expertise and business knowledge to create growth Provide strong leadership and managerial skills Successfully manage risk These skills are needed more than ever by businesses to succeed in meeting the challenges of the current economic climate.

6 CIMA at a glance * Presence 218,000 members and students in 177 countries * global in 100% of the top 100 brands * CIMA members hold 111 board positions at 91 different FTSE 350 companies 42 within 37 FTSE 100 companies 69 within 54 FTSE 250 companies * Presence in 100% of the world s top 15 tech companies * 96/100 Times Top 100 companies have CIMA people working within them * CIMA has entered a joint venture with the AICPA which now opens doors in the USA for CIMA members

7 How is CIMA different? How is CIMA different? MBA programmes Not all accountancy qualifications are the same Accounting Professional regulatory accounting & compliance bodies Practical, on-the-job learning (plus code of ethics) Emphasis on strategic business

8 Types of roles CIMA people work in Business Analysis Manager Head of Programme Management Director of Information Technology Information management roles Finance roles Finance Director Finance Business Partner Management Accountant Commercial roles Commercial Director Marketing Manager Management Consultant Role Assistant Financial Analyst, Sky People assume accountancy is boring; my role is anything but boring! Executive roles Chief Executive Managing Director Chief Financial Officer Operations roles Human Resources Manager Project Manager Operations Director

9 Enterprise pillar How do we develop strategy and plan for its effective implementation? Performance pillar How do we ensure that our strategy is realistic and that we are implementing it effectively? Financial pillar How do we prepare and interpret financial statements to show how well we are doing and to help us make decisions? C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Fundamentals of Ethics, Corporate Governance and Business Law

10 CIMA Certificate in Business Accounting Your entry into the world of finance Members of Engineers Ireland can enter the CIMA Certificate in Business Accounting at any time and the certificate has the added convenience of being computer assessed. Flexibility to progress at your own pace, by planning your studies around your personal circumstances. There are different study options available to suit your learning style: attending formal tuition classes self study at home using CIMA study manuals via distance learning through a tuition provider that offers support as you need it. The assessments may be taken in any order. To be awarded the CIMA Certificate in Business Accounting all five assessments must be successfully completed. All members will be exempted from Business Mathematics (C03). If you have been awarded additional qualifications you may be eligible for exemptions from further modules. To see if you are eligible for further exemptions please visit 10

11 CIMA Certificate in Business Accounting CIMA Certificate in Business Accounting C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Fundamentals of Ethics, Corporate Governance and Business Law Basic costing Basic costing Budgets Budgets Accounting and cost systems Accounting and cost systems Regulatory framework Preparing accounts Accounting systems and controls Regulatory framework Preparing accounts Accounting systems and controls Basic maths Basic maths Probability Probability Financial maths Forecasting Financial maths Forecasting Economic environment Economic environment Analysis for for business business decisions decisions Market economy and role of government Market economy and role of government Elements of contract Company Elements law of contract Administration Company law and finance Applying legal knowledge Administration and finance Applying legal knowledge

12 Study Options Study options Tuition classes Face-to-face tuition and interaction with fellow CIMA students Distance learning Structured training programme and tutorial support Online learning and study resources Study at your own pace. CIMAstudy.com is the official learning system

13 Pricing (Standard) Payments to CIMA (2014 prices) 75 one off registration fee Annual subscription (1 st year currently free, 106 year two onwards) 50 exemption fee for C03... And if studying using CIMAstudy.com per module per module (15% discount) if you buy all four Plus 50 (x4) per exam

14 Pricing (EI) Payments to CIMA (2014 prices) 75 one off registration fee Annual subscription (1 st year currently free, 106 year two onwards) 50 exemption fee for C03 Year 1 total = 125 EI 94

15 What next? Register as a CIMA student online at Apply for exemption proof of EI membership to documents@cimaglobal.com We will confirm eligibility for the C03 exemption. Book your exams CIMA Certificate in Business Accounting Find your local assessment centre at: Choose your study option Tuition classes Distance learning Online learning Study resources

16 Dziękujemy! Спасибо! Thank you! 謝 謝! Dave Rowsby