CIMA, the Chartered Institute of Management Accountants, founded in

1919, is the world’s leading and largest professional body of management

accountants, with over 171,000 students and members working at the

heart of business in 165 countries – and growing. CIMA works closely

with employers and sponsors leading edge research, constantly updating

its qualification, professional experience requirements and continuing

professional development to ensure it remains the most relevant

international accountancy qualification for business.

Contents

How will CIMA benefit me?

Case study 2 Formation Asset Management Ltd

What is management accounting?

Case study 3 Manchester Airport Plc

Exemptions

Case study 4 Tarmac Ltd

The CIMA qualification

Case study 5 Food Standards Agency

The CIMA qualification structure

Case study 6 Vision Express

What’s different about CIMA?

Case study 7 RWE npower renewables

General comparison

Continual support

01

02

03

04

05

06

07

08

09

10

11

13

15

17

19

21

23

25

27

CIMA means business

Case study 1 NET-A-PORTER.COM

Get me started

Case study 8 Severn Trent Water Ltd

Case study 9 Welsh Assembly Government

How will CIMA benefit me?The security of a professional qualification

Particularly in times of recession, CIMA makes

it possible to combine the security of holding a

professional qualification with the excitement and

reward of a career in business.

More career options

A CIMA qualification widens your career options

both within and outside financial management.

Four out of ten CIMA members work in a variety

of areas such as operations management, project

management and IT.

A globally recognised qualification

Our reputation ensures that doors will open for

you around the world. The CIMA Professional

Qualification gives you the option to work at a

senior level in many countries.

CIMA means businessBusinesses will always need accountants, especially

those that have the strategic insight to assess risk

and make vital business decisions. More than ever,

organisations need financially trained business

leaders who can help lead the way out of the

current economic downturn. That’s where CIMA

fits in.

CIMA members are better equipped to deal with business decisionsChartered Management Accountants operate

in financial and non-financial roles throughout

organisations and carry out all their training and

experience requirements within business. This

provides them with a unique insight into how their

organisations operate.

CIMA members operate at the heart of businessCIMA students and members work in small and

medium-sized companies, in practice and within

large multinationals throughout the world.

They drive success and create value by applying

leading edge techniques with a commercial and

forward-looking focus. Their in-depth understanding

of the businesses in which they operate means they

can pre-empt and adapt to the changing business

environment.

Business leadership skills

CIMA fully prepares you for business achievement.

The CIMA qualification gives you a deeper

understanding of business and offers more strategy

and management skills than any other accountancy qualification.

Huge earning potential

A recent international salary survey by an

independent researcher showed that the average

salary for CIMA qualified finance professionals is

£55,645,* with potential for your salary to rise

to £100k+.

Lifelong career support

CIMA’s lifelong learning programme – CIMA Professional Development (CPD) supports skill development throughout your career to ensure your skills are always up-to-date and relevant to business.

Based on research undertaken by CIMA and Redshift Research, both are Market Research Society Company Partners.

2CIMA means business 1 How will CIMA benefit me?

22

As a manag nt accountant I can provide the

appropriate information to enable my manager to

make the right financial decisions for the business.Teresa Platt ACMA, Change Management Accountant Welsh Assembly Government

*

21

What is management accounting?Management accounting combines accounting,

finance and management with the leading edge

techniques needed to drive successful businesses.

It is an integral part of business management.

CIMA Chartered Management Accountants have

a high level of financial and accounting expertise,

along with excellent business acumen. This makes

them versatile professionals who are forward

looking and best qualified to drive business

performance, not just measure it.

Management accountants focus on future

achievements, challenges, forecasting and

helping to influence strategies that will develop

their organisations business potential. They help

organisations establish viable strategies and

convert them into profit or into value for money.

The management accountant’s role involves:• generating and creating value through effective

strategic decision making, deployment of

resources and the formulation of business

strategy to create wealth and shareholder value

• analysing and interpreting management

information and then using that data to make

and guide essential decisions

• measuring organisational performance and

interpreting financial and non-financial reports

• applying accounting techniques, budgeting and

forecasting to help determine costs and budgets

and forecast future performance

• analysing processes and managing costs to

reduce waste

• managing risk, benchmarking and providing

business assurance.

The AAT Accounting Qualification If you have completed the AAT Accounting Qualification, you are one step closer to achieving your potential in business. The AAT qualification provides an excellent foundation in finance and accounting, giving you the opportunity to boost your career and become a Chartered Management Accountant.

AAT people identify CIMA as the natural next step to becoming a business professional. About one in nine CIMA students study via the AAT route.

ExemptionsAAT Technician Level

Successfully completing the NVQ/SVQ pathway or

the Diploma pathway qualifications will exempt you

from the CIMA Certificate in Business Accounting.

This allows you to begin studying at the operational

level of the CIMA Professional Qualification.

AAT Foundation and Intermediate Level

If you’ve yet to complete the AAT Accounting Qualification you can still register with CIMA. But you will first be required to complete the entry level qualification, the CIMA Certificate in Business Accounting, if you plan to sit the operational level CIMA exams.

Note: Exemptions offered may not be the same for overseas students.

For more details about exemptions visit www.cimaglobal.com/aatexemptions

02What is management accounting?3 Exemptions

24

AAT provided with a solid foundation for

continuing onto CIMA and a very clear basic

accounting knowledge.Debby Proudfoot ACMA, Management Reporting Accountant Manchester Airport Plc

The CIMA qualificationThe CIMA Professional Qualification is regularly

updated in line with the challenges and

opportunities presented by a constantly evolving

marketplace.

It is built on three learning pillars: enterprise,

performance and financial. Each pillar contains three

subjects; one each at operational level, management

level and strategic level.

On successful completion of the operational level

subjects you will be awarded the CIMA Diploma

in Management Accounting. On successful

completion of the management level subjects you

will be awarded the CIMA Advanced Diploma in

Management Accounting.

To qualify as a Chartered Management Accountant

and secure the designatory letters ACMA after your

name, you will need to sit and pass the nine papers

of the syllabus and achieve the requirements of the

Test of Professional Competence in Management

Accounting.

Test of Professional Competence in Management AccountingCIMA’s unique Test of Professional Competence in

Management Accounting brings together practical

experience and education. There are two parts to

the Test of Professional Competence in Management

Accountanting: Part A Initial Professional

Development – Work Based Practical Experience

and Part B Case Study Examination.

You can complete parts A and B in any order once

you have passed the strategic level examinations,

although we recommend that you work on both

elements concurrently.

CIMA’s Professional Qualification was recognised

in 2009 as equivalent to an MSc degree by the

National Academic Recognition Information Centre,

the UK’s independent body that assesses and scores

qualifications from around the world.

Part AInitial Professional

Development – Work Based Practical Experience.

Award - Member of the Chartered Institute of Management Accountants

Man

agem

ent

leve

lPr

ofes

sion

alco

mpe

tenc

e le

vel

Stra

tegi

c le

vel

Ope

rati

onal

leve

l

Paper E3

EnterpriseStrategy

PerformanceStrategy

Financial Strategy

Paper P2

PerformanceManagement

Paper F2

Financial Management

EnterpriseOperations

EnterpriseManagement

PerformanceOperations

FinancialOperations

Award - CIMA Advanced Diploma in Management Accounting

Award - CIMA Diploma in Management Accounting

Paper E1 Paper P1 Paper F1

Paper P3 Paper F3

Paper E2

Pre-requisite entry requirements (e.g AAT NVQ/SVQ or Diploma Pathway qualifications, CIMA Certificate in Business Accounting).

Part B Case Study

Examination based on pre-seen and unseen material.

Enterprise pillar

Performance pillar

Financialpillar

T4Test of Professional Competence in Management Accounting

2The CIMA qualification5 The CIMA qualification structure

26

What’s different about CIMA?CIMA is the only accountancy body that fully

prepares its members for business achievement.

No other professional accountancy body is

aligned as closely to the needs of business or is as

internationally respected.

The CIMA qualification is a unique combination of

theoretical, practical and applied knowledge, all of

which defines the CIMA difference.

Employers around the world acknowledge CIMA

as the global quality standard in management

accounting.

What are the key differences between CIMA and some of the other bodies?

ACCACIMA members have broad business and

management skills and are better qualified to deal

with business decisions and changes that affect the

entire organisation, while ACCA is more focused on

financial accounting issues.

CIPFA

CIMA trains students for commercial life, in both

public and private sectors, while CIPFA focuses on

the public sector. More than 80% of CIPFA members

work in public practice.

ICAEWCIMA assesses a broader spread of content

reflecting preparation for more diverse roles in the

business environment. ICAEW is particularly geared

towards professional practice with substantially less

coverage of management accounting and business

management in comparison to CIMA.

2What’s different about CIMA?7 General comparison

28

CIMA unique

CIMA provides more emphasis

Comparator unique

Comparator provides different emphasis

• Operations• Change management• Marketing• Relationship/project management

• Taxation of corporate and non-corporate entities• External audit• Law (beyond the CIMA certificate)

• Financial accounting/ reporting• Information systems

• Operational management• Marketing• Strategic management• Business economics and law

• Business strategy• Financial strategy• Risk and control strategy

• Accounting issues specific to the public sector• External audit • Taxation (using actual tax rules)

•Audit and assurance • Public finance and policy

• Strategic risk and control• Relationship management• Information systems strategy

• Business strategy• Financial strategy• Applied management accounting techniques• Applied strategic management

• Taxation of corporate and non-corporate entities • Audit and assurance• Law (CIMA certificate covers to a certain extent)

• Financial accounting/ reporting• Assessing professional competence in areas of professional practice

ACCA CIPFA ICAEW

• HR management• Applied management accounting techniques

Based on findings of comparative research undertaken by the University of Bath School of Management. To view the

full report visit www.cimaglobal.com/difference

Summary of topic comparisons*

*

CIMA TrainingCIMA Training is an accreditation programme that

recognises the quality of training provided by

employers. If your organisation is a CIMA Training

Partner they will be able to offer you support

throughout your studies and ensure you have all the

practical experience required to successfully qualify.

However, most employers will offer some level of

support if you ask. A full listing of approximately

4,500 employers can be viewed at

www.cimaglobal.com/cimatraining

CIMA MY JOBSOur online recruitment site lists current vacancies

from employers looking for the right people to train

through CIMA. You can upload your CV or sign-up to

receive job alert emails. To find out more visit

www.cimaglobal.com/aatmyjobs

CIMA LearningCIMA has a range of study resources and guides

available to all CIMA students, regardless of your

chosen study method. These include practice

questions, pilot papers, solutions and a full revision

section. Through www.cimastudy.com you can

also access a range of online, interactive learning

and support products, including; review questions,

exam hints and feedback on answers to help you

prepare for the exam and avoid common exam

pitfalls.

Online CommunityCIMAsphere is an online community for anyone

connected with or interested in CIMA. It empowers

people to exchange ideas and knowledge that

will support, develop and advance management

accounting, and the people and organisations that

benefit from it. Join in, visit www.cimasphere.com

Get me started1. Support with fees

Find out what support your employer can give you.

This may include covering the cost to register with

CIMA. To view the latest fees, visit

www.cimaglobal.com/aatfees

If you are looking for a new job, many of our CIMA

Training partners are looking for individuals to train

through CIMA. To find a job visit,

www.cimaglobal.com/aatmyjobs

2. Register with CIMA

You can register, even if you don’t plan to study

straightaway.

The quickest and easiest way to register is by

completing our online registration process, visit

www.cimaglobal.com/aatregistration

There are two exam sittings per year. To enter for

these you need to register as a student before the

deadlines as follows:

May exams – register by 31 January

November exams – register by 31 July

3. Method of study

Choose the best study option to suit your personal

circumstances. You can attend classes part-time,

during the evening or at weekends. And if you prefer

to study from home you can do so via distance

learning. Through www.cimastudy.com you will

have access to interactive and flexible online

courses.

For a list of accredited colleges and training

providers, visit:

www.cimaglobal.com/aatcolleges

Useful linksAAT Gateway

This is a site dedicated to AAT students and

members who are considering studying with CIMA.

For more information about the AAT route, visit

www.cimaglobal.com/aatgateway

CIMA quiz

‘Who wants to be a management accountant?’ is a

short quiz that allows you to find out what type of

accountant you could be. Have a go, visit

www.cimaglobal.com/cimaquiz

Keep in touchTo receive the latest information about CIMA

relevant to you, enter your details at

www.cimaglobal.com/aatcontact

2Continual support9 Get me started

210

I feel that CIMA has prepared me to take on

whatever challenges arise. The CPD courses

and mber support will help me to

continue to progress my career.

Nia Angharad Cooke ACMA, Management Accountant RWE npower renewables