CIMA supporting the financial services sector. The route to success

Transcription

1 CIMA supporting the financial services sector The route to success

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. Many of the world s biggest financial services employers are working to support their staff through CIMA as it is seen as a qualification that best recognises their business needs and equips their employees to: offer strategic advice to the business make and support key decisions manage risk and change in today s challenging business climate. Studying for CIMA will ensure you develop business accounting skills that combine accounting, finance and management with leading edge techniques to help you use management and financial information for business growth and effectiveness. CIMA is different from other accounting qualifications While most other accounting bodies are concerned with financial accounting, external audit and tax, CIMA combines the rigour of an accounting qualification with the business skills needed to offer strategic advice and manage risk. Independent research from Bath University has concluded that CIMA members are better qualified to contribute to sustainable business success. CIMA is different from CFA CIMA is focused on business and provides more emphasis on: accounting techniques (particularly in management accounting) business strategy and management. The CFA syllabus is exclusively concerned with the technical matters that will enable its members to value, trade in and advise on a range of financial investments and derivative instruments, while CIMA s focus is on the knowledge needed by accountants and managers to add value within a business setting. Studying for CIMA You can either opt for formal class based tuition via one of our learning partners, or for online learning through CIMAstudy.com, which offers a dynamic and innovative way to learn and can be assessed anywhere at any time. CIMA is a fast-track to management. Douglas Flint FCMA Group Finance Director HSBC Holdings plc

3 The CIMA 2010 qualification The CIMA qualification is updated regularly to reflect the fast changing pace of this dynamic industry whether it is from a regulatory, risk management or business skills perspective. The syllabus is employer led to ensure that what you learn is relevant to the business you work in. These are the key features: the entry route into the qualification is the CIMA Certificate of Business Accounting, a qualification in its own right, which gives a solid grounding in financial and management accounting the CIMA qualification framework shows a progressive qualification, enabling you to obtain formal recognition after successful completion at each level as you progress through the qualification, the focus shifts from knowledge based learning, to application and analysis which equips you with consultative business skills a combination of three years practical experience requirements, successful completion of the exams and a business case study will ensure you have the skills required by employers to add value in any business. Professional competence level Strategic level level Operational level Award - Member of the Chartered Institute of Accountants T4 Test of Professional Competence in Accounting Part A Initial Professional Development Work Based Practical Experience. Paper E3 Paper E2 Paper P3 Paper P2 Paper F3 Award - CIMA Advanced Diploma in Accounting Award - CIMA Diploma in Accounting Paper F2 Paper E1 Paper P1 Paper F1 pillar pillar Part B Case Study Examination based on pre-seen and unseen material. pillar Pre-requisite entry requirements (e.g. CIMA Certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level). Award - CIMA Certificate in Business Accounting Paper C01 Paper C02 Paper C03 Paper C04 Paper C05 of Accounting of Accounting of Business Mathematics of Business Economics of Ethics, Corporate Governance and Business Law

4 All three pillars from the CIMA 2010 qualification illustrate how the content of each pillar is relevant to the financial services 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 interacting with the competitive environment project management and relationship management skills management, negotiation, change management and leadership skills evaluating, designing and implementing strategic plans and options. Paper E3 Paper E2 Paper E1 pillar The CIMA qualification has a greater emphasis on risk management than any other accountancy qualification: tools and techniques to optimise present and projected performance understanding the business drivers to increase profitability managing short-term finance the use of information in the decision making process identifying, assessing and managing financial and non-financial risks developing risk management strategies to protect the business. Paper P3 Paper P2 Paper P1 pillar One third of our syllabus is dedicated to financial accounting and reporting: Paper E3 preparing, analysing and interpreting financial statements applying international standards and regulatory principles features and implications of major financing instruments Paper E2 evaluating financing requirements designing and managing financial strategy evaluating investment project choices assessing the financial impact of mergers and acquisitions. Paper E1 Paper P3 Paper P2 Paper P1 Paper F3 Paper F2 Paper F1

5 Typical roles of CIMA professionals in the financial services sector: CFO Finance director controller Product controller Finance business partner Risk analyst/manager Fund accountant reporting manager Head of revenue reporting accountant Internal audit manager Business performance manager CIMA members skills are sought across the whole of the business which is why they also work outside of the finance function, for example: Chief administrative officer Head of customer operations Head of group strategy and planning Relationship manager Business analyst/information analyst Sales planning manager Business manager Change consultant consultant Project manager Essentially businesses need leaders who can think broadly across disciplines. This is what CIMA brings to the table. It gives you a broad mindset of the business world. Priyan Fernando ACMA President and Chief Operating Officer Global business travel American Express

6 For further information contact the dedicated financial services business development representatives: T E. bdc@cimaglobal.com 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 Past exam papers and study guides Practical experience requirements Country specific information Student case studies Online learning solution Supporting employers in the finance sector Chartered Institute of Accountants 26 Chapter Street London SW1P 4NP United Kingdom T. +44 (0) F. +44 (0) E. bdc@cimaglobal.com