CIMA: Qualification, Innovations and the Future of

Finance

Trevor Robertshaw

Manager - Employer Relations

CIMA – Chartered Institute of Management Accountants

• Est 1919 – CIMA is the worlds largest body of

professional Management Accountants

• Part of the Association of International

Certified Professional Accountants

• Once qualified, a CIMA graduate receives the

CGMA Chartered Global Management

Accountant designation

• The CGMA Qualification is recognised worldwide

• We are a global organisation

696,000+members and students

192living in

countries and territories

172,000employed by

firms and employers

30served by

staff and

representative offices

55supporting

credentials, designations,

diplomas and certificates

Global Qualification:

What differentiates a CIMA management accountant

from a traditional accountant?

Management Accountants - Future

• Analyse data to make business decisions

• Create reports for internal business use

• Look at the future, not just the past

• Are responsive to business needs

• Measure financial AND operational

performance

• Can focus on specific parts of the business

• Look at both qualitative and quantitative data

4

Traditional Accountants - Past

• Analyse past financial performance for

regulatory reporting

• Create reports to satisfy external

regulations

• Reports are in line with prescribed

requirements

• Measure financial data only

• Focus on the entire organisation

• Compile data as set points of the year,

according to legislation

• Look at quantitative data only

What is Management Accounting?

Learn to look beyond the numbers!

CIMA members are highly valued in business because they can:

Guide critical business decisions

Provide valuable strategic advice

Combine financial expertise and business

Apply knowledge to create growth

Provide strong leadership and managerial skills

Successfully manage risk

The range of companies we work with:

Professional services

and consulting

Retail Telecommsand IT

Transport, travel and leisure

Engineering and manufacturing

Financial services

FMCGPublic sector and not-for-profit

Media & Publishing

Types of roles CIMA people work in:

Information Management

Roles

• Business Analysis Manager

• Head of Programme

Management

• Director of Information

Technology

Consultancy Roles

• Management consultant

• Finance and risk consultant

• Senior Managing consultant

Finance Roles

• Finance Director

• Finance Business Partner

• Management Accountant

Commercial Roles

• Commercial Director

• Marketing Manager

• Management Consultant

Operations Roles

• Human Resources Manager

• Project Manager

• Operations Director

Executive Roles

• Chief Executive

• Managing Director

• Chief Financial Officer

Don’t take our

word for it!

“I hold a number of positions across the business ranging from buying and

merchandising finance to a more central group reporting role.”

Richard Kinney, Head of finance – Customer Experience – Marketing, ASOS

CIMA and the Future of Finance

5,500 finance

professionals

2,000

organisations

150 countries

1) What are finance doing now?

2) What will finance be doing in the future?

3) What competencies are needed to stay relevant?

Future of Finance is driven by…

Globalisation Geopolitics Consumer

empowermentTechnology Demography

Technology impacting the finance function:

Deloitte. Crunch Time: Finance in a digital world (2016)

NOW

FUTURE

Source: McKinsey, Where machines could replace humans – and where they can’t (yet)

Which roles are most at risk through automation?

Where finance professionals might be replaced by machines…

4 work

days

16,000

work daysHUMAN SYSTEM

MACHINE

LEARNING (AI)

SYSTEM

Not using Robotic Process Automation (RPA) is the business equivalent of walking on the motorway.

Only 3% of companies surveyed believe their finance teams have the digital skills needed - KPMG

Creating a vision for the future; initial findings:

https://www.cgma.org/resources/future-of-finance.html

The CIMA Qualification

The CGMA Competency framework:

Chartered Global Management Accountant

Data

strategy

Data

analytics

Data

visualisation

Digital

costing

Digital

strategy

Digital

technologies

Cyber

security

Business

models

Ecosystem

analyses

Integrated

reporting

18

New to the CIMA qualification:

The CIMA Professional

Qualification

Professional Exams

• 9 Objective tests: 90 minute exams

on demand.

• 3 Case studies: 3 hour synoptic

exams available in Feb, May, Aug

and Nov.

Length

• Between 3 and 5 years on average.

Work experience

• 3 years’ PER work experience is

required for CIMA membership

Certificate BA Exams

• 4 Objective tests: 2 hour exams -

any order - on demand.

Pearson Vue Test Centers

• On-line or test centre exams

Exemptions

Exemptions for relevant degrees

You could be entitled to exam

exemptions.

For example:

BSc (Hons) Finance & Accounting

degree will be awarded the following

exemptions:

Exemptions are FREE!

Check your availability for exam

exemptions:

cimaglobal.com/exemptions

New - CIMA Exam blueprints:

• Operational, Management and Strategic Levels

• Updated annually

• 3 documents, one per level

• 4 sections

• Overview

• Case study exam business simulation

• Objective test representative tasks

• Appendices (formulas etc.)

https://www.cimaglobal.com/examblueprints

22

New - On-Line Exams and Free Re-Sits:

On-Line or Test Centre Exams

• Objective Tests

• Case Studies

Free exam re-sits:

• For all exams up to 31st July (except Management and

Strategic Level case studies).

Further details – Exam FAQ’s - here, free resits - here

Different ways to study

With a tuition provider

There are a wide range of different study methods to choose from:

Online with cimastudy.com

CIMA study texts and materials

A combination of all the above

Explore all options at the CIMA Study Shop:

cimaglobal.com/study-shop

There are a range of benefits available as part of being a CIMA student, including:

News and events

• FM Magazine

• Webinars

• Local events

Lifestyle

• NUS card

• A range of home

and lifestyle discounts

Community and networking

• Grad Club

• CIMA UK Facebook

Student Group

Study Support

• CIMA Study planner

• CIMAStudy.com

• CIMAglobal.com

• Student welcome pack

• Account management

support

Career and professional development

• CIMA MY JOBS

• Employer recognition

• Online salary calculator

Student benefits

Manage your CIMA journey -

Your portal to success

Schedule CIMA exams

Access exam results

Access syllabus resources

Start recording your work experience

Why CIMA?

26

Further EducationLinks to real world situations

Courses which adapt to the world we live in to focus on digitilisation

Worldwide recognition CIMA is known worldwide and

therefore does not limit the capability to travel with your qualifications

On demand examsFlexibility around normal life

Quick adaption to online exams during COVID

Focus on BusinessMore than just accounting knowledgeNot only financially qualified but trained in business and risk management

Ongoing commitment Continually invest time into professional development on a yearly basis

Benefits to organisationShow commitment to upholding ethical behavioursTaught to act in specific manners with a solid basis of a variety of skills and behaviours

Daniella Grosso – Finance Graduate DHL

1

Apply for free exemptions2

Register as a CIMA student

3 Choose your study method

4 Schedule your exam

Getting Started

Contact CIMA:

Talk to a CIMA adviser on the phone

Call 0208 849 2251

facebook.com/CIMAGradClub

twitter.com/CIMA_GC

instagram@mycimalife

Questions - Chatbox