NOT a NUMBER. You re thinking like a management accountant already. From graduate to Chartered Global Management Accountant (CGMA)

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1 I want to BE a Business leader NOT a NUMBER cruncher You re thinking like a management accountant already From graduate to Chartered Global Management Accountant (CGMA)

2 What is cima? CIMA is the world s largest professional body of management accountants, offering the most relevant accounting qualification for a career in business whether or not you hold a relevant degree. If you are considering a career in finance or business, the CIMA qualification will open doors for you with top employers all over the world. As a Chartered Global Management Accountant SM (CGMA) you ll earn more and go further. Contents: What is CIMA? What is management accounting? 3 3 CIMA Certificate in Business Accounting CIMA Professional Qualification WHAT IS MANAGEMENT ACCOUNTING? Chartered Global Management Accountants play a vital role in managing business opportunities, using evidence to develop dynamic solutions. Management accountants use information of all kinds, not just financial, to inform the strategy and help manage the future of a business. Why choose CIMA? How much can you earn? How is CIMA different? Employers you can work with Working in consulting Undergraduates/graduates MBA + Master s in Accounting holders CIMA s Undergraduate Club Balancing CIMA and university Getting started Your study options Becoming a CIMA member Find out more Management accounting is about looking beyond numbers and spreadsheets to add real value to a company. CGMAs work in all areas of business, in all types of organisations 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, management consultants, finance directors or chief executives, and many go on to run their own business. Do you analyse situations and weigh up all your options before making a decision? If this sounds like you, you re thinking like a management accountant already. + There s more to management accounting than you might think. It includes, and adds value to, financial accounting. 53

3 Why choose CIMA? HOW MUCH CAN You EARN? By studying the CIMA qualification and going on to become a CIMA member, you will join the world s 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 profession in business worldwide. The CIMA Code of Ethics is what sets CIMA (and you) apart from other qualifications. Practising ethical decision-making and reflecting on your skills as a finance professional will be an 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. And if you re already working, the CIMA qualification will increase your chances of progressing to a more senior position and earning more. You can see from the diagram how your investment in studying and exams is quickly rewarded as you progress through the CIMA qualification. This is an indication of what you could earn. Salaries vary considerably by region and sector. Source: 2014 CIMA salary survey Who is CIMA for? Anyone can study CIMA, whether you re new to business and accounting or an experienced professional. Exemptions If you re still at university you can start studying the CIMA Certificate in Business Accounting now alongside your degree, and graduate with an extra qualification. If you ve already graduated, you can study CIMA regardless of your degree subject, but if you do hold a relevant degree (like accounting or business) you could be eligible for exam exemptions and might be able to progress straight to the CIMA Professional Qualification. University students, graduates and MBA and Master s holders choose CIMA because it s the most relevant accounting qualification for a career in business. Start at the right level for you Do you already have qualifications? If so, you may not need to take all of the exams in the CIMA qualification and could be eligible for exemptions. That means you can start your CIMA studies at the right level for you and qualify sooner. Check which exemptions you could receive: Operational level Management level Strategic level Exams completed /PER CIMA member ACMA, CGMA CIMA member FCMA, CGMA 4 5

4 How is CIMA different? The CIMA syllabus is unique. It has been designed to blend management accounting, financial accounting and business focused subjects to ensure CIMA qualified professionals have the skills that employers demand. The below diagram compares the CIMA qualification with other accountancy bodies: Topics covered only by CIMA Topics covered in more detail by CIMA Topics covered equally by CIMA and the compared qualification Topics covered in more detail by the compared qualification Operations management CIMA Management accounting Project management Management of relationships Management control systems Marketing and formulation of marketing strategies CIMA Evaluation of risk and responses to strategic risk Advanced management accounting Advanced financial reporting ACCA CIPFA Auditing and assurance Financial management External audit Advanced taxation Financial accounting Financial reporting Principles of taxation Ethics Governance and public policy Information systems Taxation Financial accounting Ethics Leading change Management accounting CIMA Management information Project and relationships management Operations management Project and relationship management CIMA Implementing strategy Advanced management accounting ICAEW ICAS Auditing and reporting Financial accounting The assurance process Financial reporting External audit and assurance Financial accounting Internal controls Taxation compliance Financial reporting Ethics 6 Ethics 7

5 EMPLOYERS Thousands of companies around the world, from multinationals to start-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 more about this popular career path, see page 10. If 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 you gain valuable workplace experience. Thousands of companies around the world, from multinationals to start-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. Professional services and consulting Financial services Public sector and not-for-profit FMCG Retail Media and publishing Telecomms and IT Transport, travel and leisure Engineering and manufacturing KPMG EY PwC Deloitte Accenture IBM Grant Thornton Morgan Stanley Barclays Citigroup HSBC Zurich Credit Suisse J.P. Morgan NHS Scottish Enterprise UK Government MOD HMRC Highways Agency Sanctuary Housing Coca-Cola innocent Unilever Nestlé Kimberly- Clark Diageo P&G Boots ASOS Tesco John Lewis Walt Disney Marks & Spencer Next BBC ITV Sky Guardian Media Group Google Pearson Virgin Media Vodafone Siemens O2 Cisco Systems BT TalkTalk Dell TUI Group Hilton Worldwide InterContinental Hotels Group British Airways Marriott International Network Rail TfL BAE Systems Ford Balfour Beatty GlaxoSmithKline Rolls-Royce Airbus National Grid Here are just some examples of the types of roles CIMA members work in: Information management roles Business Analysis Manager Head of Programme Management Executive roles Chief Executive Managing Director Finance roles Commercial roles Operations roles Finance Director Commercial Director Human Resources Manager Finance Business Partner Marketing Manager Project Manager Director of Information Technology Chief Financial Officer Management Accountant Management Consultant Operations Director Find and apply for the latest jobs and graduate schemes on CIMA s international job site: Find a list of employers who meet our training standards and apply directly to them: 8 9

6 WORKING IN CONSULTing What do consultants do? Consultants play a vital role in the success of any organisation. They use their specialist business knowledge to provide advice and expertise in areas where an organisation may be lacking knowledge. They identify value-adding opportunities for the business and suggest recommendations for change, as well as helping to implement solutions that maximise growth and performance. The qualification for a career in consultancy CIMA and consultancy With CIMA you won t just be financially qualified but also professionally trained in business management, providing you with the necessary expertise to successfully advise on business strategy and risk management. Management accountants work in all areas of a business, in all types of organisations in the public and private sectors, all over the world. They work in finance, IT, marketing, HR, operations and senior management positions. They could be a project manager, a finance director or a chief executive, and many go on to run their own business. Here are some examples of the roles CIMA members and students hold within consultancy: CEO CFO Management Consultant IT Consultant Finance and Risk Consultant Partner Technical Consultant Financial Analyst Business Analyst Strategy And Transformatiom Consultant Senior Managing Consultant Hiren Shah, EY James Gough, Deloitte Margaret Fowler, KPMG Mark Cummings, IBM Role: Senior Consultant Education: Economics, University of Nottingham Role: Consultant Education: BSc Business Administration, University of Bath Role: Consultant Education: BSc Commerce, University of Virginia Role: Senior Finance and Risk Consultant Education: Mathematics, University of Warwick CIMA means success in the Big Four. CIMA equips me with the skills and knowledge my clients value. As a management consultant, CIMA gives me versatility. CIMA is constantly evolving with the times. 11

7 I want to set agendas Not TAKE MINUTES Undergraduates / graduates University to CIMA at a glance: Graduates in any degree discipline can study CIMA Exemptions available if you have completed a relevant degree Option to begin your CIMA studies while at university and graduate with a head start in the job market. Studying CIMA after university and boosting your degree with a professional qualification is a strong career move. You ll gain new, employable business skills and experience, and you ll impress potential employers just by adding CIMA student to your CV. You can even begin your CIMA studies while at university and graduate with a head start in the job market. You don t need a relevant degree to start your CIMA studies; graduates in any degree discipline can study CIMA. You ll start with the CIMA Certificate in Business Accounting. It s a recognised qualification in its own right and can also be a stepping-stone to the CIMA Professional Qualification. If you ve already completed a relevant degree, like accounting or business, you may be entitled to exemptions from some CIMA exams, allowing you to progress onto the Professional level sooner. Find out more: You re thinking like a management accountant already Study CIMA while at university To boost your CV and stand out to employers why not start studying the CIMA Certificate in Business Accounting? There are lots of resources available to help you get through your CIMA studies while you are at university. For more information and support, visit 13

8 I want to Make Decisions Not inform Them MBA and Master s in Accounting holders Master s to CIMA at a glance: Accelerated entry to the CIMA Professional Qualification for MBA or Master s in Accounting holders Skip 12 exams and qualify sooner Be equipped with the up-to-date knowledge and practical experience employers are looking for. If you hold a Master s or MBA in Accounting, you can take the accelerated Master s Gateway route to the CIMA Professional Qualification. You ll just need to pass the CIMA Gateway exam, which is a three-hour computer-based case study exam, available four times a year. Once you ve passed the CIMA Gateway exam, you ll be exempt from 12 exams and can progress straight to the strategic level of the CIMA Professional Qualification, the final step towards CGMA status. As a CIMA student, you ll have exclusive access to CIMAconnect, the online study support community. There you ll find free resources such as past papers, practice exams, blogs and discussions about the Master s Gateway route. There are two study options available: You re thinking like a management accountant already Master s Gateway assessment only (includes CIMA registration, first year s subscription fee, one exam attempt and all 12 exemptions). Find out more: Master s Gateway package (includes CIMA registration, first year s subscription fee, one exam attempt, all 12 exemptions and CIMAstudy.com online study modules). 15

9 Cima certificate in Business accounting The five certificate syllabus modules Certificate details: The Certificate in Business Accounting is CIMA s entry-level accounting qualification, so you can start it now even if you haven t finished university yet or your degree isn t in a relevant subject. C01 Fundamentals of Management Accounting Basic costing Budgets Accounting and cost systems Entry requirements: None. It s open to all Number of exams: Five two-hour, computer-based exams Exam dates: All year round Completion time: months on average Work experience required: None Letters after your name: CIMA Cert BA It offers you the opportunity to develop your business and financial knowledge, whatever career path you want to take. It s a valuable qualification in its own right: upon completion you will be awarded the CIMA Certificate in Business Accounting and can use the letters CIMA Cert BA after your name. It is also a stepping stone to the CIMA Professional Qualification, which leads to Chartered Global Management Accountant (CGMA) status. The syllabus The five modules that make up the CIMA Certificate in Business Accounting are completely flexible and can be sat any time throughout the year. You can study the subjects in any order and choose any combination to suit you. All Certificate in Business Accounting subjects are examined by computer-based assessment at centres around the world. You ll get feedback straight after your assessment with no waiting around to find out if you ve passed. Students who carefully plan and commit to their studies can complete the CIMA Certificate in Business Accounting within months. C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Fundamentals of Ethics, Corporate Governance and Business Law 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 knowledge 16 17

10 Cima professional qualification I M THE PERSON WHO ALWAYS DIVIDES THE BILL You re thinking like a management accountant already Structure and order of completion The 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 a time. The three exams within each level are assessed by on-demand, computer-based objectives tests. To complete a level you must pass all three objective tests (or have been granted exemptions) plus the integrated case study which can be sat four times a year. Upon completion of each level you will be awarded interim qualifications and letters after 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 each Integrated case studies three at three hours each Exam sittings: Objective tests (computer-based) on demand Integrated case studies (computer-based) four sittings per year Completion time: Between three and five years on average Work experience required: None required to complete the qualification, but three years work experience is required for CIMA membership Letters after your name: Designations 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, CGMA 19

11 CIMA Professional Qualification syllabus details: The syllabus AWARD / Membership of the Chartered Institute of Management Accountants and the CGMA designation Assessment of practical experience The levels STRATEGIC LEVEL Strategic Case Study Exam The pillars The levels The exams As a management accountant you will be looking beyond the numbers to inform the strategy of the business. The CIMA pillars are therefore designed to cover not just finance but also a range of other business areas. The below outlines what will be covered in each pillar: Enterprise develop strategy and plan for effective implementation. Performance monitor activity to ensure strategy is realistic and has been implemented effectively. Financial prepare and interpret financial statements in order to understand performance and inform decisions. The three distinct levels encourage progressive, constant development of knowledge, ensuring you have the skills businesses need. Operational level considers implementation of short-term decision-making, mirroring the work undertaken by first line managers and their teams. Management level considers analysis, ensuring successful performance. This is in the context of the medium-term, and reflects work undertaken by middle managers. Strategic level takes into account long-term strategic decisions, and the provision of resources to implement these decisions successfully. This is the work generally undertaken by senior management. Exams for the CIMA Professional Qualification are examined by computerbased assessment. Each level consists of three objective test exams, which you must pass (or have exemptions from) before proceeding to the integrated case study exam. The objective tests are available on demand and can therefore be sat all year round. The integrated case studies are examined by computer-based assessment and can be sat four times a year. There is no time limit to complete the CIMA Professional Qualification so you can study at your own pace. The exams are designed to provide flexibility so that you can fit them around your lifestyle. However, on average a student will complete the Professional Qualification within four years. Strategic level Management level Operational level MANAGEMENT LEVEL OPERATIONAL LEVEL E3 Strategic Management AWARD / CIMA Advanced Diploma in Management Accounting Management Case Study Exam E2 Project and Relationship Management AWARD / CIMA Diploma in Management Accounting Operational Case Study Exam E1 Organisational Management P3 Risk Management P2 Advanced Management Accounting P1 Management Accounting F3 Financial Strategy F2 Advanced Financial Reporting F1 Financial Reporting and Taxation Practical experience / lifelong learning ENTERPRISE PILLAR PERFORMANCE PILLAR FINANCIAL PILLAR CERTIFICATE LEVEL AWARD / CIMA Certificate in Business Accounting The pillars Pre-requisite entry requirements (e.g. CIMA Certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level) Paper C01 Paper C02 Paper C03 Paper C04 Paper C05 Fundamentals Fundamentals Fundamentals Fundamentals Fundamentals of

12 See more posts Vit harum aut idel idemquo omnimag nisquod mo tempori nitas aut labo sitenda sus. See more profiles Home Your community Find a job Resources Get chartered Vit harum aut idel idemquo omnimag nisquod mo tempori nitas aut labo sitenda sus. 1 1 Welcome 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: Vit harum aut idel idemquo omnimag nisquod mo tempori nitas aut labo sitenda sus. CIMA cima.contact@cimaglobal.com 3 Vit harum aut idel idemquo omnimag nisquod mo tempori nitas aut labo sitenda sus. Sophie Dawson 9 1 See more posts Post something Ugiant. Luptassitae eosandit, que asperumet as dusandita que ni corae de sit, nullenime voloren tistio Itat. Ugiant. Luptassitae eosandit, que asperumet as dusandita que ni corae de sit, nullenime voloren tistio Itat. Ugiant. Luptassitae eosandit, que asperumet as dusandita que ni corae de sit, nullenime voloren tistio Itat. Louise Thomas Level 10 Alistair Taylor Level 10 Nathan Taylor- Wright Level 10 Sophie Dawson Level 10 Sian Jones Level Your profile Level 1 Edit your profile Earn more points Your community CIMA CIMA s Undergraduate CLub Whatever your degree subject, if you re a UK university student you can join CIMA s Undergraduate Club for free, even if you re not studying CIMA. By signing up, you ll be giving yourself a head start in the job market, finding out about the latest vacancies and connecting with other students, all for free. JOIN ThE club and GET a competitive EdGE Join today and: Students Employers Academics Get business ready Upskill for the job you want with free seminars and expert tips Show employers you care Invest in your future and prove your dedication and the value you can add to any business Recommended posts Global Business Challenge Kick start your career How I split my study and social time Trending posts Find out more about CIMA How I split my study and social time GET ThE competitive EdGE Username / Password Log-in Whatever your degree subject, if you re a student at any UK university you can join the CIMA Undergraduate Club for free today and get ahead in your career, even if you re not studying with CIMA. Register now! Find out more Find out more about CIMA Seek out opportunities Be the first to find out about graduate jobs and apprenticeships Get noticed Network at free events and career fairs Employer profiles Sky KPMG Top contributors Join the club and get a competitive edge Students Employers Academics Username / Password Log-in Register now! Or find out more... Secure your dream job Prepare for your big moment with our top interview tips and industry updates Be inspired Read CIMA members success stories and find out how they made it to the top. Find out more about CIMA Register as a student Share this page undergradclub.cimaglobal.com 22 23

13 I m always looking at ways to improve performance Getting started Step 1: Register as a CIMA student Register as a CIMA student at or by calling one of our student advisers on +44 (0) Step 2: Apply for exemptions 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 option CIMA can be studied in a number of different ways to suit your preference and lifestyle. Find out more about your study options on page 30. Step 4: Schedule your exams You re thinking like a management accountant already Exam entry is open all year round for the CIMA Certificate in Business Accounting and the CIMA Professional Qualification objective tests. For integrated case studies there are exam entry windows see our website for details. Log into your MY CIMA account with your ID and password which you would have received upon registration as a CIMA student. Select Schedule your exam and follow the instructions. Visit for further information or call a student adviser if you require assistance on +44 (0)

14 Study options Becoming a cima member Do plenty of research before choosing how to study CIMA. Make sure the option you pick will suit you and the way you learn best. Taught courses with a tuition provider You can follow a taught course with one of the many global course providers that teach CIMA. Tuition, where available, can be a great study option because you ll get support from other students and can ask your tutor questions. Study with official CIMA textbooks and study materials You can use the official CIMA textbooks and study materials to supplement your taught course or distance learning. You can also use these materials for home study, which requires high levels of discipline and self motivation but is the most flexible and cost effective option. CIMAconnect Combining study methods with blended learning If you d like to choose when and where you study but would also benefit from some tutor support, combining your study methods may be the best option for you. For example, you might decide on a distance learning course followed by a taught revision course. Study online with CIMAstudy.com You can start any time, study any time and sit any time. The courses are designed and delivered through e-learning and also offer tutor support. For more information on study options and course providers in your area, visit One of the advantages of being a CIMA student is having an online platform designed exclusively to support your studies. CIMAconnect is a mobile-friendly study support platform that lets students access free study material and have discussions with other students about their experience, anywhere, any time. Visit connect.cimaglobal.com Before qualifying as a CIMA member, you must show that you have at least three years relevant work-based practical experience. That way, employers know that you belong to a community with the skills they re looking for. CIMA members around the world have a duty to observe the highest standards of conduct and integrity, and to uphold the good standing and reputation of the profession. To find out more, visit: Practical experience requirements (PER) Some or all of the three years practical experience required can be gained before registering as a CIMA student and can be carried out with more than one employer. The work experience is broken down into different areas, reflecting the wide range of functions carried out by management accountants. For tips on gaining and recording your practical experience, visit: How much will it cost? CIMA students pay a one-off registration fee, an annual subscription fee and a fee for each exam or exemption. Check our fees list for more information: You also need to take into account the cost of study materials and any tuition classes you take. Tuition fees are charged separately and are paid directly to the course provider. Practical experience requirements (PER) Experience may be drawn from any of the following three areas over a period of three years or more (but a minimum of 18 months must be gained within the core area). Relevant experience gained before registering as a student will also count. Area 1 - basic experience 1a. Preparing and maintaining accounting records 1b. Statutory and regulatory reporting 1c. IT desktop skills 1d. Systems and procedure development Area 2 - core experience 2a. Preparation of management accounts 2b. Planning, budgeting and forecasting 2c. Management reporting for decision making 2d. Product and service costing 2e. Information management 2f. Project appraisal 2g. Project management 2h. Working capital content 2i. Risk management and business assurance Area 3 - supplementary experience 3a. Financial strategy 3b. Corporate finance 3c. Treasury management 3d. Taxation 3e. Business evaluation and appraisal 3f. Business strategy 3g. External relationships 26 *Accredited in Scotland 27

15 Chartered Institute of Management Accountants FIND OUT MORE Chartered Institute of Management Accountants We have a friendly bunch of CIMA advisers on hand to talk to, and a variety of ways you can get in touch to find out more. Keep in touch to make sure you don t miss out on important news from CIMA: Talk to a CIMA adviser on the phone Call: Sign up for our monthly bulletin: For opening hours visit: Like CIMA UK on Facebook: Follow CIMA on Twitter: twitter.com/cima_uk_events Join our undergraduate club undergradclub.cimaglobal.com VISIT our Virtual Open Day