An illustrious name in the field of business and management accountancy, the Chartered Institute of Management Accountants, or reputably known as CIMA, supports the development of your technical skills to keep you relevant in today’s challenging and fast-paced generation. Also, this global organization offers a series of training and certification programs to aid accounting specialists in their quest for business acumen and financial literacy.

Look into CIMA Certification Program

In general, the accrediting curriculum of CIMA is delivered through its qualification framework, which is divided into two areas ― the CIMA Certificate in Business Accounting and the CIMA Professional Qualification. These cover different areas that are pertinent to your career growth. In particular, the CIMA Certificate in Business Accounting steers you towards business excellence by developing your foundational ability to work with people and business processes. Meanwhile, the CIMA Professional Qualification focuses on shaping your management accounting skills to be able to lead and guide organizations efficiently.

Designations on Offer

Under the CIMA Certificate in Business Accounting, you get four subjects that encompass the entire syllabus. These are BA1, BA2, BA3, and BA4. Each of these underlines the fundamentals of a specific area, including business economics, management accounting, financial accounting, and ethics, corporate governance, and business law. On the other hand, the CIMA Professional Qualification category features a three-level progression. Here, you have to choose the path that fits your work expertise. The first one is the operational level, wherein it takes on the implementation of decisions on a short-term basis, and as a result, successful candidates secure the CIMA Diploma in Management Accounting. The next tier is the management level, which gauges your adeptness in decoding long-term decisions into more relevant medium-term objectives. Completing this phase rewards you with the CIMA Advanced Diploma in Management Accounting. Now, for the last part, there’s the strategic level. As the culminating stage, it highlights more challenging and strategic areas, particularly the ones dealing with long-term decision-making. Note that each of these three tiers is further classified into three different pillars ― enterprise, performance, and financial. Thus, the Operational level consists of E1, P1, and F1 pillars while the Management tier includes E2, P2, and F2. Accordingly, the third, Strategic threshold, comprises such pylons as E3, P3, and F3. To conclude, if you accomplish both the CIMA Certificate in Business Accounting and the CIMA Professional Qualification with all the three levels and three respective case study exams, then you’ll obtain the coveted Chartered Global Management Accountant (CGMA) title.

Intended Audience for CIMA Certification Exams

The CIMA Certificate in Business Accounting and the CIMA Professional Qualification cater to different specialists with a particular set of experience and preferences. If you’re a newbie in management accounting, then it’s recommended to start with the CIMA Certificate in Business Accounting. This is highly suitable for students with little to no background in management and financial accounting. As the stepping stone for beginners, this also serves as an entry level to the more advanced CIMA Professional Qualification. In continuation, the CIMA Professional Qualification is designed for those who are already proficient in the foundational features, hence, focusing on bridging the gaps in skills and polishing your expertise to provision your professional advancement. As a rule, this is intended for experienced individuals wanting to wade through more technical areas.

CIMA Exams in Detail

Each CIMA test runs for 90 minutes, following a computer-based setup, and is available on-demand at various Pearson VUE testing sites around the world. On the contrary, the case study exam for each level lasts for 3 hours and is only accessible in four windows (quarterly basis) across the year. You can also take this at different Pearson VUE centers worldwide, and as to the passing rates, these depend on the window as well as the exam level. So, to get a closer look into the CIMA evaluations, let’s get to know three of the options at hand:

• BA4 aids the development of your knowledge in the key professional standards critical among stakeholders like ethical conflict, the administration of companies, corporate governance, etc.
• P1, on the other hand, determines how well you understand management accounting, from the appropriate costing methods to budgetary control to short-term decision-making techniques.
• Another exam available is E3, which involves your comprehension of the strategy process, organizational ecosystem analysis, and strategic options, among others.

Career Opportunities for Successful Exam-Takers

Be part of CIMA and transform into a highly desirable business professional. Having a CIMA designation keeps your skills at par with the demands in the industry. Besides, it showcases the aptitude that makes you a standout in your chosen career. And with your in-depth skills, it’s easy for you to achieve tasks and translate requirements into business accomplishments. Generally, professionals with the Chartered Global Management Accountant certification are globally renowned and rewarded. And based on the latest data provided by PayScale, the CGMA earns you at least $134,294 per year. To help you get a detailed analysis of your financial compensation, CIMA offers a personalized report loaded with relevant information about the most recent salary trends. This way, you can assess if you are getting the salary and recognition that you deserve. This also gives you an insight into how other CIMA members benefit from having an international certification on their profile. Finally, some of the job roles supported by such an organization are controllers, account managers, accounting analysts, senior accountants, tax managers, financial directors, management accountants, payroll administrators, and more.

Recommended Certification Path

In order to get CGMA certified, one has to commence his/her path with the CIMA Certificate in Business Accounting consisting of BA1, BA2, BA3, and BA4 subjects. The next stage is the CIMA Professional Qualification with the operational tier, which covers E1 Managing Finance in a Digital World, together with F1 Financial Reporting and P1 Management Accounting. Remember that on top of the three tests, you are also required to complete the case study exam. For the management level, you have to go through such exams as E2 Managing Performance, P2 Advanced Management Accounting, and F2 Financial Reporting, plus a case study test. The final section, or the strategy level, entails the E3 Strategic Management, P3 Risk Management, and F3 Financial Strategy tests, along with another case study exam. You may opt to follow this technical track to have a smooth-sailing certification path.