CIMA is the natural progression for people with finance and business degrees. The great news is that there are many employers who will sponsor you to study the CIMA Professional Qualification – and if you have already studied a relevant degree or qualification, you may be entitled to exemptions from some CIMA exams.
However, you don’t need a relevant degree to start your CIMA studies. Graduates in other disciplines start by studying the CIMA Certificate in Business Accounting, which gives them a solid grounding to then progress to the CIMA Professional Qualification.
Management accountants don’t fit the stereotype of number-crunchers. In fact, quite the opposite. Chartered management accountants are at the heart of all strategic decisions that are key to business success. They work out how much and how many, and get results by looking at trends and behaviour. Ever wondered who decides on the price per song on iTunes and how? Or why festival tickets work out more expensive for one day than the whole weekend? Management accountants operate in all types of organisations, often having top jobs, with many going on to run their own businesses.
Yes, there is an online list of members. It is only available to members and is located in the member information section. You will need your MY CIMA login details to see the list.
CIMA does not have a fee arbitration scheme in place and cannot get directly involved in cases or grievances between a member and/or registered student and their employer or client.
CIMA has no policy on whether a practice should be incorporated or not. If members wish, they may set up a practice company instead of a partnership or acting as a sole trader.
Companies House offers guidance booklets setting out all of the requirements and procedures for setting up a company.
For company formation, go to the Yell.com website and search for ‘company registration agents’ which should bring up details of 60 or so companies that can help. Some offer off the shelf companies and some offer a company formation service. You can also look at websites and compare offerings before making contact.
When setting up as a limited company, members must ensure they go through the correct procedures with regard to the Business Names Act 1985, registering for VAT with the Inland Revenue and checking with Companies House etc
Please visit our creation and winding up of companies page for more information.
At CIMA, we take very seriously any details we receive about individuals falsely claiming CIMA membership or misrepresenting their status in any way.
This could involve individuals claiming to be members of CIMA and/or utilising the letters ACMA and FCMA after their name.
You should obtain as much information and evidence of your suspicions as possible and try to ensure that the person you suspect is indeed not a CIMA member or registered student.
Any suspicions should be put into writing along with any evidence you have obtained and emailed to firstname.lastname@example.org or forwarded to:
Head of Professional Standards
One South Place
CIMA does not advise or get involved in disputes between employers and employees.
You should ensure that you are complying with the CIMA code of ethics at all times.
Further information on your rights as an employee is available from the Department of Trade and Industry and your local Citizens Advice Bureau.
For low cost advice on any aspect of UK law, members can free phone LAW Express as part of their member benefits.
CIMA’s logo is only available for use by those who have an affiliation with CIMA and are so authorised to use it (such as accredited training partners or careers advisors).
No member or student is permitted to use the CIMA logo for their benefit, such as a business website or promotional stationery.
The only CIMA logo which is authorised for use in a business context is one designed specifically for CIMA members who work in practice and who have successfully been awarded a CIMA practising certificate.
The changes that we have made to the syllabus and assessment methods are the result of thorough research with finance professionals and employers worldwide.
We captured all the major competency requirements and used our CGMA Competency Framework to:
- Determine the changes to the syllabus so that CIMA can provide the business skills employers have requested
- Update the assessment so we can test key competencies to the global standards employers requireThe CGMA Competency Framework has ensured we understand the knowledge and skills the business world is seeking. We firmly believe our competency-based syllabus meets employer needs.
Will the old textbooks or study resources (for example CIMAstudy.com modules) still be relevant for the 2015 syllabus / assessments?
For the objective tests, provisional results are available shortly after the exam. Feedback about your exam performance will be available in your MY CIMA account approximately 48 hours after you have completed your exam. You will receive an email notification as soon as your result and the feedback is uploaded.
The case studies are human marked and you will receive your results approximately five weeks after the exam.
You can re-sit your assessment from 48 working hours after you last sat it. We suggest that you focus on the feedback given to you with your result and make sure that you are competent in your weak areas before re-sitting.
You will need to re-book your assessment so it may depend on availability at your chosen exam centre.
For the objective tests, results are available shortly after the exam and there is feedback regardless of whether you have passed or failed. For students who fail, the feedback focuses on topics that need more work before re-taking the exam.
The case studies are human marked and you will receive your results approximately four weeks after the exam.
Will the objective test assessments (90 minutes long) be easier than the traditional paper based exams (180 minutes)?
The objective tests focus on levels one, two and three of the CIMA hierarchy of verbs. However they also test levels four and five, especially at the management and strategic levels. Therefore you can be expected to be tested on knowledge, comprehension, application, analysis and evaluation in these objective tests.
The intuitive testing software has a range of question types and will enable us to test technical competency across all syllabus areas. Therefore we can test more within a shorter time period.
Answer planning is important in any examination as it will help you organise your thoughts and present them logically. You will be provided with a scratch pad and an A4 white board and marker plan in the exam room, you can use these to make notes and plan your answers; hence you do not need pen and paper.
The electronic ‘scratch pad’ is built into the software, you will be able to access it at any point during your exam. You can drag the scratchpad across the screen and minimise it and your notes will remain on it.
The new assessments are not intended to be a test of your computing or typing skills and you do not need experience of any specific accounting or office software applications (except where this is specified in the syllabus content). The basic IT skills you have acquired using computers in your education, work or social life will usually be more than adequate.
The Chartered Global Management Accountant (CGMA) is a global management accounting designation that recognises the unique role played by men and women at organisations around the world who combine accounting and financial expertise with strategic insight to guide better business decisions. Additionally, it recognises the management accounting experience and expertise of accountants in academia.
Created through a joint venture of the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA), the CGMA designation recognises the competencies and expertise of management accountants who are leading the world’s most successful organisations, and teaching at universities around the world, preparing the management accounting leaders of tomorrow. It demonstrates management accounting expertise in such areas as leading strategically with management to make more informed decisions; helping organisations manage change, risk and uncertainty; protecting corporate assets; and promoting operational efficiency and effectiveness.
CGMA designation holders are business strategists who apply non-financial, qualitative information along with financial analysis to understand all aspects of business. CGMA professionals may work in finance, or may put their broader business training to use across the organisation, often in the roles of Board Director, Chairman, CEO or CFO. CGMA holders are on the front lines of business and are responsible for helping businesses in a number of ways, including:
- developing business strategy;
- protecting corporate assets;
- supporting the management of risk and uncertainty;
- communicating with key stakeholders;
- managing relationships – internal and external;
- assuring high organisational integrity; and
- making sound investment choices.
CGMAs are characterised by their discipline and commitment to sharpening their skills and adhering to a code of conduct and ethics. They understand and are committed to helping organisations correlate and understand financial and non-financial information across multiple functions so the business can maintain growth and perform more efficiently.
CGMA designation holders are trusted to guide critical business decisions and ensure strong business performance. CGMA designation holders also include the educators who conduct research in management accounting and related disciplines and accounting faculty who meet certain experience requirements. CGMAs in academia are recognised for their contributions to the profession, their research and industry experience, and for preparing students for careers in management accounting.
What does the establishment of the CGMA designation and the AICPA-CIMA joint venture mean for me as a professional?
Obtaining the CGMA designation means you are now part of an enhanced network of finance professionals and academics. The AICPA-CIMA joint venture creates a forum for promoting the value that management accountants can add to an organisation, boosting your career prospects throughout the world. CGMA designation holders are eligible for a number of benefits, including the cgma.org website, which hosts numerous AICPA-CIMA jointly-developed resources and content. In addition, by establishing the CGMA designation, the AICPA and CIMA are providing an additional way for members in business, industry, government and academia to further showcase their expertise in management accounting.
The CGMA designation was created to increase the recognition of management accounting worldwide, to complement the U.S. CPA and help AICPA and CIMA members stand out as leading management accountants. CGMA designation holders benefit from the enhanced reputation and community of their CGMA peers and further develop their competencies with the publications, resources and tools available on cgma.org.
For AICPA members who are eligible, registration for the CGMA designation is $170 per year. Dual state CPA society-AICPA members receive a $50 saving, making the cost $120 per year. CIMA members do not incur any extra expense for the CGMA designation.