In today's competitive job market, having a professional accounting qualification can greatly enhance your career prospects and open up a world of opportunities. One of the most prestigious qualifications in the field of accounting is the Chartered Institute of Management Accountants (CIMA) qualification. If you're an aspiring accountant looking to advance your career and gain recognition as a highly skilled professional, then you've come to the right place. In this comprehensive guide, we will take you through all the steps you need to know on how to become CIMA qualified.
Whether you're just starting out in your accounting journey or looking to switch from another qualification, this article will provide you with all the information you need. So let's dive in and discover how you can become CIMA qualified and join the ranks of top-notch accountants in the industry. First, let's understand what CIMA is all about.
CIMA
stands for Chartered Institute of Management Accountants and is a professional body that offers a globally recognized qualification in management accounting. It is considered one of the most prestigious qualifications in the field of accounting and finance.To become CIMA qualified, you need to complete three levels of exams – Operational, Management, and Strategic – along with relevant practical experience. These exams test your knowledge and skills in various areas of accounting, finance, and business management. The syllabus is regularly updated to ensure that it stays relevant to the changing needs of the industry. As a result, CIMA qualified professionals are highly sought after by employers around the world. Now, let's dive into the details of what it takes to become CIMA qualified.
Firstly, you need to be at least 18 years old and have a minimum of two A-levels (or equivalent) to be eligible for the CIMA qualification. If you are a university graduate or hold another accounting qualification, you may be eligible for exemptions from some exams. You can check your exemptions on the CIMA website. Next, you need to register as a CIMA student and pay the relevant fees. This will give you access to the study materials, online resources, and support from CIMA tutors.
It is recommended to join a CIMA approved learning provider to help you prepare for the exams. These providers offer various study options such as online classes, self-study materials, and face-to-face tuition to suit your learning style and schedule. Once you have completed all three levels of exams and gained the required practical experience, you can apply for CIMA membership. This will give you the prestigious title of Chartered Global Management Accountant (CGMA) and open doors to exciting job opportunities around the world. Now, you may be wondering why you should choose CIMA over other accounting qualifications like AAT, ATT, ACA, ACCA, CIPFA, CIPP, CPA, and ICAEW. The answer lies in the focus of the qualification – management accounting.
Unlike other qualifications that cover a broad range of accounting topics, CIMA is solely dedicated to developing professionals with strong management accounting skills. This makes it a preferred choice for those interested in pursuing careers in financial planning, analysis, and decision-making roles. In terms of exams, CIMA has a unique computer-based assessment format that allows you to take exams at any time of the year. This gives you more flexibility in planning your studies and taking the exams when you feel ready. Moreover, CIMA's syllabus is constantly updated to reflect the latest developments in the industry, giving you a competitive edge in the job market. Apart from the technical knowledge gained through the exams, CIMA also places a strong emphasis on developing leadership and business skills.
This is evident in its practical experience requirement, where candidates are expected to demonstrate their ability to apply their knowledge in real-world scenarios. This well-rounded approach prepares CIMA qualified professionals for diverse roles in various industries. Finally, let's discuss job opportunities and salaries for CIMA qualified professionals. As mentioned earlier, CIMA is a globally recognized qualification, and its members are in high demand across industries and countries. This means you have a wide range of career options to choose from, including roles in finance, management, consultancy, and more.
As for salaries, the average salary for a CIMA qualified professional in the UK is around £65,000 per year. However, this can vary based on your level of experience, job role, and location. Now that you have a good understanding of what it takes to become CIMA qualified and the benefits it offers, it's time to take action and start your journey towards a successful career in accounting.
The CIMA Qualification: What You Need to Know
Eligibility: To become CIMA qualified, you must have a minimum of a high school diploma or equivalent. There are no specific educational requirements, but having a background in accounting or finance can be beneficial.Additionally, you must be fluent in English and have access to a computer and internet for online exams.
Exams:
The CIMA qualification consists of four levels, each with three exams. The first level is the Certificate in Business Accounting, followed by the Operational, Management, and Strategic levels. Each level has a mix of computer-based and case study exams, which can be taken at any time throughout the year. It is recommended to take one level at a time to properly prepare for each exam.Practical Experience:
In addition to passing the exams, you must also complete three years of practical experience in a relevant role.This can be completed before, during, or after your exams and can be gained through employment or internships. CIMA also offers a Fast Track route for those who have relevant work experience, allowing them to skip certain exams.
Why Choose CIMA Over Other Accounting Qualifications?
When it comes to choosing the right accounting qualification, there are many options available. However, if you are looking for a well-rounded and globally recognized qualification, then CIMA is the perfect choice for you. One of the main reasons why CIMA stands out among other accounting qualifications is its focus on management accounting. This means that as a CIMA qualified professional, you will not only have a strong foundation in traditional accounting principles, but also in management and business strategy.This makes CIMA graduates highly sought after by companies, as they possess a unique blend of financial and strategic skills. Another advantage of choosing CIMA is its flexibility. As a professional body, CIMA offers a variety of study options to suit your individual needs and circumstances. Whether you prefer self-study, classroom learning, or online courses, CIMA has options for you to choose from. This flexibility allows you to tailor your studies around your current commitments and pace your learning according to your own schedule. CIMA also places a strong emphasis on well-rounded development.
Along with technical skills, the qualification also focuses on developing soft skills such as communication, leadership, and teamwork. These skills are essential for success in any career, and with CIMA, you will have a competitive edge in the job market.
Job Opportunities and Salaries for CIMA Qualified Professionals
If you are considering a career in accounting, becoming CIMA qualified opens up a world of opportunities for you. With its global recognition, CIMA members are highly sought after by employers worldwide. This means that as a CIMA qualified professional, you can enjoy a wide range of job opportunities in various industries and countries. One of the reasons why CIMA is in high demand is because of its focus on management accounting.This means that CIMA qualified professionals are equipped with the skills and knowledge to make strategic financial decisions and drive business success. As businesses become more complex and competitive, the demand for these skills continues to grow. According to the 2019 Salary Survey conducted by the Association of International Certified Professional Accountants, CIMA members earn an average salary of £64,011 in the UK, which is significantly higher than the national average for accountants. In addition, CIMA qualified professionals have the potential to earn even higher salaries as they progress in their careers. Furthermore, with CIMA's global recognition, members have the opportunity to work in different countries and gain valuable international experience. This not only adds to their skill set but also makes them more attractive to potential employers. In conclusion, becoming CIMA qualified not only provides you with a prestigious qualification but also opens up a world of job opportunities and competitive salaries.
With its global recognition and focus on management accounting, CIMA is definitely worth considering for aspiring accountants. CIMA is an excellent choice for those looking to build a career in accounting. Its focus on management accounting, practical experience requirement, and global recognition make it a highly respected qualification in the industry. With dedication and hard work, you can become CIMA qualified and open doors to exciting job opportunities with competitive salaries. So what are you waiting for? Take the first step towards becoming a Chartered Global Management Accountant today!.
