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HomeFinanceImportant Facts You Should Know About The CIMA Qualification

Important Facts You Should Know About The CIMA Qualification

The world of finance took a major hit amid the global pandemic crisis. However, the certain qualifications helped the finance professionals sail through the crisis if not smoothly, a little less rough ride.

One such qualification that created an uproar in the world of finance is the CIMA qualification that is offered by the Chartered Institute of Management Accountants. CIMA certification is one of the renowned certification programs, which has been designed to bridge the skills gap and produce not only competent but also confident management accounting professionals who can guide and lead their businesses to sustainable success.

Understand this: CIMA qualification has been designed so as to bridge the skills gap of finance professionals worldwide, who have just stepped into the world of finance. The CIMA certification aims to meet not only the employability needs of the business but also meet the needs of people.

Gone are the days when the finance professionals just had to adept in finance. In the current workplace, as digitalization has taken over the businesses, it is crucial for the finance professionals to have strong technical accounting, finance skills, along with the knowledge on how digitalization and other rapid technology changes are creating both challenges as well as opportunities for the businesses globally. 

If you look closely at the curriculum covered by the CIMA certification program, it includes –

• How the digital world affects finance – the top is covered through a detailed introduction of digital costing along with digital strategy
• Cybersecurity and business models are other topics included in the curriculum
• Integrated reporting has been explained in detail so as to reflect their increasing prominence

Some of the skills imparted in the CIMA Certification include:

With the renowned CIMA Certification on your portfolio, you are the sought after experts in the field of management accounting and business in general. These are some of the important skills that an applicant learns –

• Analytics
• Planning
• Risk Management
• Communication
• Strategy Formulation

Remember: CIMA Certification program can be quite challenging as applicants have to pass a tough exam before they can earn the prestigious CIMA qualification. Depending on professional experience and other criteria as mentioned by CIMA US, you can opt for Chartered Global Management Accountant (CGMA) as well.

Now that you know that CIMA qualification is well-respected in the world of finance, let’s have a look at the various career opportunities for a certified CIMA professional.

 CIMA certified professionals are adept in critical business and management skills and are able to apply their theoretical concepts in the corporate world to find real-time business solutions. An ability that sets apart a CIMA certified finance professional from the other finance professionals.

As mentioned earlier the CIMA certification makes you one of the most sought after professionals, as recruiters actively seek CIMA certified professionals. Reason: CIMA certified professionals can not only handle finance departments but they are also adept at playing a critical role in business operations with an élan. In fact, they can work in multiple departments thus being a link between all of them.

Let’s have a look at the kind of jobs a CIMA certified professional can apply for in the current workplace –

• Financial Manager
• Financial Analyst
• Finance Controller

The above three are related to the finance world, however, there are job roles as well that a CIMA certified professional can perform to the best of her abilities –

• Commercial Analyst
• Risk Manager
• Strategy Officer

With CIMA Certification as your highlighted qualification, recruiters will not be able to resist you.

In fact, CIMA qualification will open the doors for CFO aspirations. And your earning potentials also increases with CIMA certification. According to the CMA salary survey that was done five years back an average salary of a certified CIMA professional is USD $93,884.71 or GBP £68,647 globally. In addition to the average salary a CIMA certified professional also earns bonuses somewhere between 9% and 11%.

This is not all…

The Chartered Institute of Management Accountants offers continuous support to its applicants even after they have successfully completed the certification program. In addition, there are some resources that will be offered to you –

1. Guidance in professional ethics and professionalism itself
2. Continuous professional development for your skills expansion and enrichment of existing knowledge
3. Support in your career growth
4. Various networking opportunities along with community support to its applicants

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