EDUCATION PLUS

CIMA way of `looking forward'

RIGHT PLANNING: What every manager must strive for

RIGHT PLANNING: What every manager must strive for  





Focus is on training accountants in business and helping managements take wise decisions for the future



  • CIMA is a leading international voice for professional accountants working in business.
  • It undertakes regular, extensive, global research into employer needs and advancement of the science of management accounting.
  • It gives advice to banking and financial services, manufacturing sector , government and public health services and retail trade.
  • Emphasis is on looking forward, not back, in taking management decisions.
  • CIMA has established strategic alliances with CA bodies for professional development of their respective memberships.
  • FOR MANY people, their understanding of what professionally qualified accountants do and what accounting is all about, is restricted to the areas of external financial reporting, audit and assurance. These areas have much in common, focused on the past performance of organisations — activities occurring at or near the end of what is a long and complex supply chain of financial and non-financial business information and geared to the needs of external stakeholders e.g. shareholders, government, employees. To use a driving analogy, these are disciplines with "eyes on the rear view mirror."However, the theory and practice of accounting has another critical dimension, equally vital to organisational success and survival. This is the exciting world of management accounting, focused on looking forward, not back, on the provision of efficient, effective and timely information so that that the management of organisations, public and private, can take better decisions.It is the world of project management, risk management, performance management and the strategic direction of businesses, with emphasis on analysing and communicating financial and non-financial information rather than preparing this information. The CIMA qualification equips individuals and provides employers with the necessary skills and techniques in order to address this other dimension of business.

Right forum

IMA is the only international professional accounting body in the world whose sole focus is on training accountants in business. A founding member of the International Federation of Accountants (IFAC), CIMA is a leading international voice for professional accountants working in business, undertaking regular, extensive, global research into employer needs to underpin updates to the CIMA qualification. CIMA also invests significant research funds into the advancement of the science of management accounting.CIMA has its roots in the world of manufacturing industry when in the early 20th century it was founded to meet the needs of the industrial revolution: to forecast and control the cost of new production processes and products and provide management with information for decision-making in a rapidly changing business environment.From a qualification rooted in the manufacturing industry, the largest proportion of today's CIMA members is employed in Banking and Financial Services (33%), followed by Manufacturing (25%), which includes significant presence in Government and Public Health Services (15%) and Retail (12%). Today's CIMA qualification is a global standard and challenging award built on three integrated learning pillars (Management Accounting, Business Management and Financial Management) together with three years of relevant practical experience. The focus is on accountants in business with no syllabus or practical experience coverage of external audit and assurance, although the qualification covers internal audit skills and techniques.

Complementary role

The qualified personnel work throughout the world, ideally not in competition with Chartered Accountant bodies focused on external reporting, audit and assurance, but complementing and supplementing the skills needs of employers. To reinforce this complementary role, CIMA has already established strategic alliances with CA bodies throughout the world to work in partnership in areas such as the continuing professional development of their respective memberships. CIMA has extended its reach from the core CIMA qualification to add a portfolio of post-qualifying products and services which include the Harvard Business School Publishing product HMM+, a career planner for members and a wide range of publishing products. ROBERT G. JELLY

(Director of Education, CIMA)



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