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The AAT fast track to CIMAyour route to business success

IN BUSINESS TOGETHER

www.cimaglobal.com/cima123

contents

About CIMA

What now?

What is a management accountant?

Your AAT qualification

What’s different about CIMA?

CIMA’s qualification structure

Case study 6 - Bakkavor

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Case study 1 – Emma Louise West (Fujitsu)

Case study 2 – Andrew Wightman (Avon Cosmetics)

Case study 3 – Tracey Pickering (Emap)

Case study 4 – Lindsay Hyde (DaimlerChrysler)

Case study 5 – Wei Wei Xu (IEMA)

CIMA is the voice of over 158,000 students and members in 161 countries. It is the only international professional qualification with a syllabus and examinations that focus solely on the education and training of management accountants in business.

4 The AAT fast track to CIMA 5

Why choose CIMA?The CIMA qualification isn’t about

number-crunching, it provides a

fundamental understanding of all aspects

of business. It offers a wide range of

management skills to guarantee you

develop an excellent understanding of facts

and figures critical to business success.

In addition, the CIMA qualification will

ensure you have all the essential skills and

detailed knowledge required to assess risk

and support key strategic decisions for

the success of your organisation. You will

also develop the ability to communicate

complex financial information to

non-financial people, all of which will

enable you to work in any area of an

organisation.

CIMA Chartered Management Accountants

are essential to every business and always

will be. They work in all sectors from

service industries to manufacturing,

government to financial services and small

enterprises to multinationals.

Just over one in three CIMA members has a

successful career in different organisational

functions, such as marketing, human

resources, operations and IT, not finance

exclusively. Some of the non-financial

strategic positions held include project

manager, business analyst, CEO and head

of planning and marketing.

The most sought after financial qualification in the worldWherever you choose to be in the world,

the CIMA qualification is your passport to

a successful career. It is internationally

recognised and highly valued by employers

because they know it is the most practical

and relevant qualification for business.

CIMA members have the best preparation

for an international career, because they

are highly skilled and ready to add value

straightaway.

Employers consider CIMA to be the most relevant

financial qualification for international

business today.

‘I did the CIMA qualification and I’d

take people from CIMA anytime.

They’re basically business people,

with a finance orientation,

not just accountants.’

Andrew Higginson,

Finance Director of Tesco plc.

About CIMA

The AAT fast track to CIMA

7 The AAT fast track to CIMA

What is a management accountant? Your AAT qualification

‘Being CIMA qualified helped my

career move from being purely finance

focused to operations focused.’

Rosaleen Butterworth, Director

Butterworth Consultants Ltd

What is a management accountant?CIMA Chartered Management Accountants

are both forward-looking and best qualified

to drive business performance, not just

measure it. CIMA members are versatile

professionals who have been assessed in

a practical business setting and can apply

their skills to many different areas and

roles.

Management accountants concentrate

on future achievements and challenges;

forecasting and helping to shape and

influence strategies that will develop their

organisation’s business potential.

The management accountant’s role is to:

• generate and create value through

effective strategic decision making,

deployment of resources and the

formulation of business strategy to

create wealth and shareholder value

• analyse and interpret

management information and

then use that data to make and guide

essential decisions

• measure organisational performance

and interpret financial and non-

financial reports created

in accordance with international

accounting principles

• apply accounting techniques, budgeting

and forecasting to help determine

costs and budgets and forecast future

performance

• analyse processes and manage costs to

reduce waste

• manage risk and provide business

assurance.

How will I benefit from becoming a CIMA Management Accountant?You will gain:

• an internationally recognised

qualification with an excellent

reputation

• diverse career options with the

flexibility to work in any area of

business

• up-to-date knowledge and essential

practical skills required by employers

• the ability to rise to the most

senior positions within the world’s top

organisations

• a rewarding career with huge earning

potential. View the latest salary surveys

at www.cimaglobal.com/myjobs123

• life-long learning and support from

CIMA through its Continued

Professional Development (CPD)

programme.

Your AAT qualification will help you progressIf you have successfully completed the

AAT Accounting Qualification you will

already have a head start on the road to

Chartered Management Accountant status.

The AAT qualification provides an excellent

grounding and solid understanding of the

fundamentals of finance and accounting,

thus preparing you for bigger and better

career opportunities as a Chartered

Management Accountant.

Each year a large number of AAT students

work towards CIMA membership. They

identify CIMA as the natural next step to

becoming a business professional.

Exemptions

Completing the AAT Technician or Diploma

Pathway qualifications entitles you

to receive exemptions from the CIMA

Certificate in Business Accounting, allowing

you to begin studying at the Managerial

level of the CIMA Professional Qualification.

If you hold the AAT Foundation or

Intermediate level certificate, you are still

able to register with CIMA, but will need to

complete the CIMA Certificate in Business

Accounting. However, we do recommend

you complete the AAT qualification.

For further details about exemptions visit

www.cimaglobal.com/exemptions123

Study

You already have a good idea of what it’s

like to balance work, study and a social life.

The CIMA qualification isn’t easy, it will

require a lot of commitment, dedication

and hard work, but it will be worth it.

Becoming a CIMA member will raise your

professional status, employability and

earning potential, so invest in your career

now while your studies are still fresh in

your mind.

Work experience

To become a CIMA member you must

have completed three years’ relevant

practical experience. The vast majority of

AAT Technicians will have already acquired

relevant work experience whilst working

during their AAT studies, so have a head

start in building the three years required.

For further details on CIMA’s Practical

Experience Requirements visit

www.cimaglobal.com/per123

Employer support

If your employer 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. If your employer isn’t a CIMA

Training Partner they can find out more

and register at www.cimaglobal.com/

cimatraining123

The support CIMA Training Partners offer

can include:

• study network schemes

• mentoring and coaching systems

• paid study leave

• study costs covered

• study programmes

• internal and external courses

• soft skills and personal and professional

development.

We have over 3,800 employers who are

CIMA Training Partners. For a full list

of companies visit

www.cimaglobal.com/cimatraining123High achievers choose CIMA. As a business

qualification it ensures you won’t be a faceless

number-cruncher.

4 The AAT fast track to CIMA6 The AAT fast track to CIMA

Prior experience can be included

Managerial level

Strategic level

Practical Experience

Requirements

A minimum of three years'

relevant practical experience,

recorded as a Career Profile with

Record of Skills

Development (RSD)

Practical Experience

Requirements

A minimum of three years'

relevant practical experience,

recorded as a Career Profile with

Record of Skills

Development (RSD)Business

Management Pillar

Paper 4 Organisational Management and Information Systems

Paper 1 Management Accounting Performance Evaluation

Paper 7 Financial Accounting and Tax Principles

Paper 8 Financial Analysis

Paper 9 Management Accounting Financial Strategy

Paper 2 Management Accounting Decision Management

Paper 3 Management Accounting Risk and Control Strategy

Paper 5 Integrated Management

Paper 6 Management Accounting Business Strategy

Management Accounting Pillar

Financial Management Pillar



Managerial level

Strategic level

Award: CIMA Advanced Diploma in Management Accounting

TOPCIMA Test of Professional Competence in Management Accounting

ACMAAssociate of the Chartered Institute of Management AccountantsCHARTERED MANAGEMENT ACCOUNTANT

CIMA Professional Development

Pre-requisite entry requirements AAT accelerated entry route

AAT NVQ/SVQ Pathway or AAT Diploma Pathway qualifications

Pre-requisite entry requirements AAT accelerated entry route

AAT NVQ/SVQ Pathway or AAT Diploma Pathway qualifications


The CIMA Professional Qualification structureThe CIMA Professional Qualification is

built on three learning pillars: Management

Accounting, Business Management and

Financial Management. Each pillar contains

three subjects: two at Managerial level and

one at Strategic level.

To qualify as a CIMA Chartered

Management Accountant and secure the

designatory letters ACMA after your name,

you need to complete both the Managerial

and Strategic levels and the CIMA Test of

Professional Competence in Management

Accounting (TOPCIMA). In addition, you

will require a minimum of three years’

relevant practical experience.

The AAT NVQ/SVQ Pathway or AAT

Diploma Pathway qualifications will allow

you to start at the Managerial level.

Other entry routes include, the CIMA

Certificate in Business Accounting, Open

University Certificate in Accounting and

degrees in business or accounting.

To get an overview of the content of each

paper in the syllabus visit

www.cimaglobal.com/syllabus123

CIMA’s business focused training will prepare

you for a diverse career that goes well beyond a speciality in finance and

accounting.

‘When studying CIMA you can take

your time or progress quickly, it is up

to you. It’s good that you can take one

exam at each sitting or even three or

four and finish the qualification

within two years.’

Emma Stevenson

Customer Investment Analyst

Orange

The CIMA qualification structure The CIMA qualification structure


What’s different about CIMA?CIMA members support and contribute

value to a broad range of business

functions. The CIMA qualification is a

unique combination of theoretical, practical

and applied knowledge, all of which defines

the CIMA difference. A major focus on

practical skills development enables CIMA

professionals to apply their knowledge

throughout any organisation right from

the start.

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.

‘The difference between CIMA and

some of the other qualifications is that

it shows what it is like in real life. CIMA

is about achievement in business rather

than achievement in theory.’

Nick Farrimond

Northgate Information Solutions plc

Among professional accounting bodies,

CIMA has the largest proportion – 98% – of

members working in business.

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.

These differences are based on findings of

comparative research undertaken by the

University of Bath School of Management.

To view a full up-to-date report which

identifies similarities and differences

between CIMA and eight other professional

accounting bodies visit

www.cimaglobal.com/difference123


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

What’s different about CIMA? What’s different about CIMA?

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

Summary of topic comparisons*


Case study


Emma Louise West ACMA

is a Financial Controller

at Fujitsu. She completed

the AAT qualification in

preparation for CIMA.

‘I chose CIMA because it leaves more

doors open and it’s great to have on my

CV as so many employers recognise it.

The CIMA syllabus is far more

commercially focused compared to the

other accounting bodies. It covered all

key accounting concepts and techniques,

and it also offered something extra in

terms of realistic business scenarios,

IT and marketing.

The AAT geared me up for CIMA. I

went onto CIMA with a good basic

understanding of what was required. The

most difficult thing for me was getting

to grips with some of the mathematics

required in the more technical papers. I

was sitting four papers each time, so the

sheer volume of work and lack of social

life for a while was tough – but well

worth it!

The content of the CIMA syllabus is

so relevant to anyone working on the

more commercial side of accounting.

It provided me with a good basis for

entering the real world of business cases

and financial control.

With CIMA’s introduction of CPD,

employers will appreciate that I’m

keeping up-to-date and I strongly believe

the same level of opportunity doesn’t

exist without the CIMA qualification. It

provides a solid basis for an excellent

career providing the individual is not

afraid of some hard work along the way.

I was one of those students who didn’t

find anything easy, but it was all worth it

and I can now reflect back and feel I’ve

made a real achievement that is now

being put to good use in my career.’


LOUISE WESTEMMA

CIMA member,Financial Controller, Fujitsu Services Ltd.

‘‘‘The content of

the CIMA syllabus

is so relevant to

anyone working

on the more

commercial side

of business.’

About Fujitsu Services Ltd.Fujitsu Services is a leading European

information technology services

company. Its business is helping

its customers realise the value of

information technology through the

application of consulting, systems

integration and managed service

contracts. It serves customers in the

private and public sectors across Europe

including retail, financial services,

healthcare and Government.

With an annual turnover of £2.46

billion (€3.59 billion), it employs over

19,000 people across 20 countries.

Headquartered in London, Fujitsu

Services is the European IT services arm

of the US$43.2 billion (€32.5 billion)

Fujitsu Group. Visit uk.fujitsu.com for

more information.

Case study


Andrew Wightman ACMA,

FMAAT is a Senior Manager

at Avon Cosmetics Ltd.

Andrew chose to build

his accountancy career

by studying AAT and then

CIMA instead of going to

university.

‘The CIMA qualification is recognised as

one of the best in industry. It has given

me the skills required to progress my

career and I’ve been able to secure a

number of promotions because of it.

I chose to study CIMA because it offered

the most rounded qualification for

working in industry. It was also the

preferred qualification at Royal Mail,

where I worked at the time.

I left school and started working

immediately. I took GCSE Accounting at

a local college and AAT was the natural

next step. AAT had a good reputation

and colleagues recommended it to

me on the basis it would give me solid

foundations from which to build my

accountancy career.

The AAT taught me the fundamentals

of accountancy and enabled me to go

straight onto CIMA’s Managerial level.

The overlap on certain topics between

AAT and CIMA helped me immensely.

In my current role I’m responsible for

leading finance reviews with senior

operational management, ensuring

the financial impact of decisions is

understood.

I manage, lead and control a team of ten

finance professionals. I’m also responsible

for the Avon Business/Technical CPD

programme and the Avon Finance

Professional Development Scheme.

CIMA continues to expand its numbers

and continues to evolve as an

association. It’s great to be part of its

growth and I get to continue developing

– particularly through CPD. I see

fellowship as my next step and this will

help me move to the next level in

my career.’

About Avon Cosmetics Ltd.As a top global brand and world leader

in lipsticks, fragrances and anti-ageing

skincare, Avon continues to revolutionise

the beauty industry by launching

innovative, first-to-market products using

Avon-patented technology.

Avon’s dedication to supporting women,

touches not only beauty – but health,

fitness, self-empowerment and financial

independence.


WIGHTMANANDREW

CIMA member, Senior Manager, Decision Support

Avon Cosmetics Ltd.

‘‘‘I chose to study

CIMA because

it offered the

most rounded

qualification

for working in

industry.’

Case study


Tracey Pickering is a Business

Analyst at Emap. Tracey’s

colleagues at Emap and

college tutors felt CIMA

was the most appropriate

qualification for the career

path she wanted to follow.

‘Studying for the CIMA qualification

has provided me with a clear goal and

my achievement has been recognised

through promotion and increased

responsibilities.

The AAT Accounting Qualification

provided me with a good solid platform

to grow from. It fully covered all the

basic concepts which were needed to

be fully understood in order to progress

onto CIMA. When I began studying

AAT I wasn’t in an accounting role and

therefore a basic understanding was

essential.

I’m responsible for the finance across six

brands (magazines, websites and events),

which includes the budgeting and

forecasting of those brands, month end

reporting of actuals, variance analysis

and supporting the MD to make solid

financial decisions.

As a passed finalist I now need to apply

for full membership in order to progress.

CIMA’s CPD programme will help support

my career development.

Becoming a CIMA passed finalist involved

a tremendous amount of hard work

and dedication. I feel it has been a great

achievement and would recommend it

to anyone who is not afraid of hard work.

The rewards at the end are worth the effort!’

About EmapEmap plc is a brand-led, multiplatform

media group with a portfolio of over

200 brands that inform, entertain and

connect communities.

The strength of the Group lies in our

ability to create and package content and

in our brands through which we engage

our customers. We enjoy strong positions

in many markets and have outstanding

teams who are driven by their passion

and creativity.

We have 50 lifestyle and specialist

consumer magazines, 42 local and eight

national commercial radio stations, seven

digital TV channels and organise over 400

B2B events internationally.


PICKERINGTRACEY

CIMA passed finalist, Business Analyst,

Emap plc

‘‘‘I’ve gained a

recognised and

highly regarded

qualification.’

Case study


Lindsay Hyde is a project accountant at DaimlerChrysler Financial Services UK Ltd. The CIMA Professional Qualification has enabled Lindsay to progress through three roles with her current employer.

‘I chose to study with CIMA because the

qualification has a good reputation in the

private sector and is required by most

employers. Successfully completing the

AAT Accounting Qualification entitled

me to receive exemptions.

It gave me a very good understanding of

the basics, providing a solid platform to

build on with the more complex issues

covered by CIMA.

The CIMA Professional Qualification

has enabled me to progress with my

current employer through three roles;

assistant accountant, senior assistant

accountant and project accountant. The

most exciting project I have worked on

recently involved the implementation of

a new treasury process.

In the future I hope to expand my career

experience either globally within the

DaimlerChrylser Group or with another

employer. Whatever I choose, I know

that being a CIMA member will give me

an edge and demonstrate my abilities to

potential employers.’

About DaimlerChryslerWe provide DaimlerChrysler dealers and

customers with tailor-made finance and

leasing solutions – including insurance,

credit cards and fleet management

services.


HYDELINDSAY

CIMA passed finalist, Project Accountant,

DaimlerChrysler Ltd.

‘‘‘CIMA is a

well respected

qualification

and has high

recognition among

employers.’

Case studies


Wei Wei Xu ACMA is a

Finance Manager at the

Institute of Environmental

Management and

Assessment. Wei Wei heard

about CIMA when she first

came to the UK 12 years

ago and as a starting point

the AAT qualification was

recommended to her.

‘CIMA is not only a passport in the

accountancy field, but is also a very

practical and general management

qualification.

I chose CIMA because it is more flexible

than other financial qualifications and I

was able to start studying in my current

job. I didn’t want to have to sign a

training contract with an accountancy

firm.

The AAT Accounting Qualification

gave me a very solid foundation in the

accountancy field as I started with

double entry and went onto consolidated

accounts. Some of my classmates

entered CIMA via the graduate route

and received exemptions from certain

papers. They sometimes found it difficult

to tackle the questions associated with

financial reporting, but it was like revision

to me.

I found the system and project

management part of the syllabus

difficult. To overcome this I did some

internet based research and read some

real case studies. I then used project

management techniques covered by

the paper to manage DIY projects and

plan holidays. I was also lucky enough

to have the opportunity to automate

the company’s manual accounting to

a computerised system. This enabled

me to identify requirements, write up

specifications, compare packages on the

market, train staff and implement the

system. All of this gave me the chance to

put theory into practice.’

About the IEMAThe Institute of Environmental

Management and Assessment (IEMA) is

a not-for-profit organisation established

to promote best practice standards in

environmental management, auditing

and assessment.

With over 11,000 individual and

corporate members, the IEMA is now a

leading international membership-based

organisation dedicated to the promotion

of sustainable development, and to the

professional development of individuals

involved in the environmental profession,

whether they be in the public, private or

non-governmental sectors.


XUWEI WEI

CIMA member, Finance Manager, IEMA

‘‘‘I chose CIMA

because it is more

flexible than

other financial

qualifications and

I was able to start

studying in my

current job.’

The CIMA Professional

Qualification involves

learning practical skills

which can be used on a

daily basis in the working

environment.

Employer profile


Since 1991, English

Village Salads (EVS) has

been supplying high

quality produce to the

UK grocery retail market.

Its range includes

tomatoes, cucumbers

and peppers as well as

a wide variety of leafy

salads. All EVS produce

is graded and packed to

the highest standards

at its first class packing

facilities in Selby, North

Yorkshire.EVS is part of Bakkavör Group, the

UK’s leading provider of fresh prepared

foods and produce. We operate over 50

factories and employ over 17,000 people

in eight countries. Group turnover in

2006 was £1.2 billion.

Bakkavör Group is a dynamic and fast-

moving business. Our finance teams play

a key role in ensuring that each business

unit within Bakkavör Group contributes

to the company’s overall success.

It is therefore important that we have

the right calibre of financial expertise

available within the business. Bakkavör

Group recruits trainee accountants at

all levels, from those just starting out on

their AAT qualifications right through to

experienced qualified accountants.

Together with our finance graduates on

the company’s ‘fast track’ management

scheme, our finance people are able

to achieve the much-coveted CIMA

Professional Qualification.

At all levels, our finance trainees are

provided with structured support to

maximise their chances of academic

success. They gain relevant practical

experience in roles, which not only

gives them the opportunity to make a

real difference to the business, but also

complete their qualifications.

No matter what level of experience a

person has, ‘grow your own’ is seen as an

important part of people development

at Bakkavör Group, and finance is no

exception.

For more details please go to the ‘Our

People’ section at www.bakkavor.com

Stephen Murray ACMACIMA member

Management Accountant

‘

‘


BAKKAVORStephen completed the AAT qualification

before studying CIMA.

CIMA Training Partner

25 The AAT fast track to CIMA24 The AAT fast track to CIMA

What now?Choose CIMA

Let CIMA take your career to the top

and beyond. Becoming a CIMA Chartered

Management Accountant will provide you

with a dynamic, successful and rewarding

career in business.

Get support from your employer

Find out if your employer is a CIMA Training

Partner. If not, find out what kind of

support they are prepared to give you.

Studying options

Choose the best study option to suit

your personal circumstances. Attending

tuition classes is the most effective way

of mastering the CIMA syllabus. You can

attend classes part-time, during the evening

or at weekends. There are many advantages

to formal tuition. For a list of accredited

colleges and training providers visit

www.cimaglobal.com/colleges123

Register with CIMAYou can register as a CIMA student now by

completing CIMA’s quick and easy online

registration process at

www.cimaglobal.com/registration123

For details of the AAT/CIMA special

arrangement for exam entry visit

www.cimaglobal.com/aat123

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

Keep ahead Would you like to be kept up-to-date

with information about CIMA and be one

of the first to hear about CIMA events?

If so, enter your contact details online at

www.cimaglobal.com/aatcontact123 or

complete the attached form and send in

by post.

AAT Gateway

AAT Gateway is a site dedicated to AAT

students and members who are considering

studying with CIMA. The content is varied

and includes the latest jobs, event dates,

news, case studies and career tips. To view

the site visit

www.cimaglobal.com/aatgateway123

What now?

‘I am self-employed and would not

be where I am today without the

confidence and knowledge that the

CIMA qualification has given me.’

Lorraine Gannon ACMA

Director

Town & Country Taverns

‘CIMA was the best career

decision I have made.’

Christine Marsh ACMA

Management Accountant

Chorpid Limited Don’t stop now. Aim for a successful career in business.

The Chartered Institute of Management Accountants26 Chapter StreetLondon SW1P 4NPUnited Kingdom

T. +44 (0)20 8849 2314F. +44 (0)20 8849 2450E. [email protected]

www.cimaglobal.com/cima123

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