CIMA is the world’s largest professional body for management accounting, offering a postgraduate equivalent qualification divided into operational, managerial, strategic, and professional competence levels. Candidates must pass all levels and complete three years of professional experience to become a member. Minor qualifications are also available.
The Chartered Institute of Management Accountants (CIMA) is a British organization described as the world’s largest professional body for management accounting. Its activities include professional training and examinations, including the main CIMA qualification billed as a postgraduate equivalent. There are fewer qualifications available for students working in the process.
CIMA’s main qualification follows a study plan divided into operational, managerial, strategic and professional competence levels. Candidates must pass all levels to qualify and become a member of the institute.
The first part of the course is divided into three subjects: business, performance and financial management. In each subject, the student must take the curriculum and pass the exam at an entry level known as operational, then pass the exam in the same subject at a more advanced management level. It is possible to move to the management level in one subject before completing the operational level in the other subjects.
After completing the six modules, covering the two levels of the three disciplines, the student moves on to the strategic level. This is an even more advanced program and exam for each of the three subjects. The student must pass the management level of all three disciplines before moving to the strategic level of any of the three.
When the student concludes and passes the strategic level of the three disciplines, he moves on to the final phase, the level of professional competence. This involves completing three years of professional practical experience and passing an exam. Students can study and take the exam while completing the work experience, but will not qualify until the experience and exam are complete.
There are a number of minor qualifications available to those on the path to the CIMA major qualification and institute membership. The organization offers an initial entry level certificate which must be achieved by those planning to start the major qualification, although students may be exempt if they have a suitable degree or if they have relevant qualifications from other groups. As the student is working on the CIMA core qualification, she receives a CIMA diploma for completing the operational and management levels and a CIMA advanced diploma for completing the strategic level. CIMA also offers a short certification course for Islamic Finance specialists, which takes between two and six months to complete.
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