More than just number crunching

All accountants are not the same. If you went on an expedition and took a financial accountant and a management accountant with you, they would do very different things. he financial accountant would take photos, buy souvenirs and keep an accurate diary.

Afterwards, the financial accountant would write a book of the expedition to look back and share with family and friends, in the same way as they would report past financial performance.

The management accountant would do all of that and more. They would plan your journey and give you options of where to go; explaining the attractions of different destinations and routes and what you would need for each alternative. After the expedition the management accountant would encourage you to think about your next expedition, working with you to ensure it would be even more rewarding than the previous one.

Management accountants not only use financial data but also past experience and information of all kinds, to help manage the future of the business. Thus, they are also the most employable as they are equipped with a wide variety of skills.
Their role in the organization puts them at the heart of the business. Management accounting combines accounting, finance, and management with the leading cutting edge techniques needed to drive successful businesses.

They advise managers about the financial implications of projects and explain the financial consequences of business decisions. Management Accountant’s roles range from traditional number crunchers to partners in strategy such as: accounting operations, external reporting, management accounting, management support, management information systems, staff management, training, administration, and other miscellaneous activities.

CIMA (Chartered Institute of Management Accountants) is the world’s largest professional body of Management Accountants, with 195,000 members and students operating in 176 countries.

It is also considered as a global passport for great employment opportunities. CIMA members and students work in industry, commerce, public sector and not-for-profit organizations.

A global salary survey conducted by the Chartered Institute of Management Accountants (CIMA) showcases the impact of professional qualifications on various aspects of a job viz. earnings potential, salary satisfaction and the ability to realize ambitions such as moving to a new organization or working abroad.

A total of 85% agreed that the CIMA qualification creates careers opportunities, approximately 75% members have highlighted that the CIMA qualification strengthens their position whilst salary negotiations and 89% said that it strengthened their chances of adding an international dimension to their resume.

 CIMA’s professional qualification syllabus is built on three specific learning pillars: Enterprise pillar, performance pillar and financial pillar, with each containing three subjects.

There are four distinct levels within the CIMA Professional Qualification: operational, managerial, strategic and professional competence, with interim qualifications awarded at each level. Each level is progressive and will deliver skills relative to that level.
When students complete the CIMA qualification they are automatically entitled to the CGMA  (Chartered Global Management Accountant ) designation, a proprietary designation for management accountants, which is powered by two of the world’s most respected accounting bodies - AICPA (American Institute of Certified Public Accountants) and CIMA.

This designation advances the global discipline of management accounting. CGMAs are business strategists who apply non-financial, qualitative information alongside financial analysis to understand all aspects of a business.

Professionalism and ethics are at the core of CIMA’s activities with every member and student bound by rigorous standards so that integrity, expertise and vision are brought together. CIMA members and students are required to comply with the CIMA code of ethics and to adopt the fundamental principles to their working lives.

CIMA members are at the heart of business as its conscience, adding judgment, independence and objectivity to their professional qualification.

CIMA makes it possible to have both the security of a professional accounting qualification and the rewards and excitement of being a business leader. Academically, CIMA is equivalent to a Masters Degree (UK National Recognition Information Centre).

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry