CIMA - Chartered Institute Of Management Accountants.
There are a lot of people who are pursuing a career in accountancy. Because of this, tons of organizations were built to provide the exact standard that a person must obtain with regards to their education, and also to ensure that they will be able to deliver the highest standard in practicing their career. However, most of the accounting qualifications established in the world was formulated only to train people for working on internal and external audit, tax issues and private practice. Unlike other organizations, CIMA was established to train and prepare people to have a career in business by teaching members with skills for managing risk, making key decisions and strategic advice.
What Is CIMA?
Chartered Institute of Management Accountants or CIMA is another of the professional body for accountants based in United Kingdom. CIMA is considered as the largest management associations established in the world. At present, CIMA already has over 203,000 students and members in more than 170 countries. Aside from being one of the management accounting associations in UK, CIMA is also a member of the IFAC. CIMA was founded in the year 1919. It was first named as The Institute of Cost and Works Accountant or the ICWA. In the year 1986, CIMA was granted as a Royal Charter and became globally recognized as an accounting qualification and honored on all Commonwealth countries. The establishment of CIMA played a significant role in the foundation of fraternal CIMA bodies such as the Institute of Cost and Management Accountants of Pakistan, India, Bangladesh, and Institute of Management Accountants USA.
CIMA Activities.
The activities of CIMA generally constitute of operating a standard scheme for the Master's Degree of the CIMA examination qualification for all prospective members. CIMA is an active supporter of local education, in promoting new techniques by means of research foundation and management accounting practices dissemination through publications, and management and training development operations. To help promote these activities efficiently, CIMA also started publishing a monthly journal called as the Financial Management which are being supplied and distributed for free to all CIMA members and also to all registered CIMA students. CIMA is also the one regulating the activities of its members by enforcing a code of practice, through its discipline committee and continuing education scheme.
CIMA Membership.
CIMA is comprised by 2 grades of membership, which are the Associate (ACMA), and Fellow (FCMA). For a person to be a CIMA Associate member or candidate, he must have at least completed three years of qualifying practice, which must be documented and is signed by the appropriate witnesses; must have passed CIMAs 15 qualifying examinations. Lastly, the person must have been proposed and most importantly, seconded to be a CIMA member by 2 individuals who had a direct experience of person's work but does not need to be a CIMA member or accountant. For a person to be a CIMA Fellow, the ACMA candidate must have senior level experience.
Those who are interested to be a CIMA member must be aware of those information mentioned above to achieve success in entering the world of CIMA.
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