7 Key Facts about CIMA

CIMA stands for the Chartered institute of Management Accountants. Founded in the year 1919, is a globally recognized qualification for enrich careers in Business & Finance. CIMA is the world’s largest professional body of Management Accountants with more than 218,000 members working in 177 countries.

In this blog you’ll discover that getting a CIMA qualification is a great start for anyone jumping in the field of Finance and wanting to become an in-demand qualified accountant. We will discuss here 07 key facts you should know about CIMA. CIMA qualified members and students stand to gainabundant benefits that come with the qualification.

1. CIMA Qualified chase remarkable career in Finance

CIMA qualified professionals can enter into the vast field of finance. They can join the sectors like Corporate Finance, Financial Reporting, Financial Analysis, Accounts Management Consultancy, Business Analysis, Project Finance, Treasury Management, Risk Management etc.

If you haven’t already figured it out by now, becoming CIMA qualified is a great achievement. CIMA qualification is a distinguished accomplishment not only in the accountancy but also in other related compasses. As a CIMA qualified member, you can get an outstanding reputation and status in the world of accountancy.

Like ACCA, CIMA qualifications is also globally recognized. If we see just in UK, it will disclose that both are highly respected and can turn the heads of employers seeking the right professional talent.

2. CIMA qualification is self-driven

Like in any other profession, getting a professional CIMA qualification requires a lot of effort, commitment, and self-drive.

CIMA courses equip you with the necessary skills and knowledge to handle and adapt to the dynamic fast changing accounting world.

3. Two (02) Primary CIMA Qualifications with three (03) levels

The two primary CIMA qualifications are CIMA Certificate in Business Accounting and CIMA Professional Qualification CIMA is divided into three levels operational, management, and strategic.

After completing entry level you will get CIMA Certificate in Business Accounting covers the basics in business economic, ethics and business law, management, and also financial accounting.

The advanced CIMA professional qualification boosts your accounting knowledge by throwing in skills such as treasury management, risk management, Corporate Finance, Business analysis and financial strategy.

4. CIMA graduates not just delimited with accounting

Typically, an impression has built that come as a surprise CIMA qualified just join the field of accountancy. But the fact is a lot of CIMA qualified members don’t end up in accounting careers.So, CIMA qualified members not just go forward tread in the accountancy direction. only a few of them choose accounting field. In this rapidly changing world now the CIMA graduates catching commercial and strategy-based positions. These include financial analysts, credit analysts, and firm consultants.

A CIMA qualified can choose and pursue a career in finance, credit, business, or even consultancy fields. This is the most significant advantage of getting a CIMA qualification. The positions (financial analysts, credit analysts, and firm consultants) have the perquisite of giving you strategic growth. it provides a highway to the most Senior Roles such as Finance Director, CFO, Managing Director, and even CEO.

5. CIMA Qualification and the digital world

As the world is changing rapidly and adapting digital space. Seeing as the market is dynamic, CIMA syllabuses usually change or evolve to keep up.

Now due to digitalization and rapid change in technology the MNCs demands individuals equipped with digital skills such as data science, cybersecurity, integrating reporting, and business models.

This increasing demand of digital skills influencing every field of business including accountancy. Now as seeing the demand of the industry CIMA qualification also recognizes that it is vital for finance professionals to possess technical skills. They also need to be able to understand that organizations’ challenges and opportunities due to digitalization. Hence,advanced CIMA courses ensures updated syllabus to keep the students aware with the world of tech savvy. they are fully prepared to work successfully in the digital space. These mandatory digital skills in CIMA are now reflected in the New CIMA syllabus and exam. CIMA qualified members who possess these skills can easily face the challenges of this digital world.

6. CIMA qualification as an undergraduate

Sometimes, when you are completing your university and think over to start other qualification it become hard to adopt it. But if you are thinking about management accountancy at the end of your other qualification; you can start a CIMA qualification as an undergraduate (incorporating CIMA courses into your study), as a graduate with other related degree, you will be exempted with that particular subjects you have studied before. Consult with your online personal tutorwho are qualified professional tutors through Eximus education.

7. CIMA with CGMA

CIMA fused with the American Institute of Certified Public Accountants to form the Association of International Certified Professional Accountants (AICPA & CIMA), a professional network with more than 450,000 members all over the world. This association boon that when you’ve completed your CIMA qualification and are a CIMA member, you will automatically beentitledwith extra letters after your name – the Chartered Management Global Accountant (CGMA) designation. The addition of CGMA not only boost your profile but it will also demonstrate your business insight, ethics and commitment towards your profession.

Conclusive Note

Really if you don’t know what to do with your hard-earned money, then ‘invest’ in this CIMA courseandadvance your accounting career with CIMA qualification.

Apart from career development in the management accountancy, you can get to enjoy other benefits such as recognition and validation.

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