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Paul Gillot & Angela Copland Employer Business Development Managers. Transformation and growth The new CIMA operational structure 2010 Syllabus Transformation of the Finance Function. The new CIMA operational structure. Changing economic climate and customer requirements
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Paul Gillot & Angela CoplandEmployer Business Development Managers
Transformation and growth • The new CIMA operational structure • 2010 Syllabus • Transformation of the Finance Function
The new CIMA operational structure • Changing economic climate and customer • requirements • Fast rate of technology change and • business response times • Re-organisation to get closer to our stakeholders • Further enhanced service to Students, • Members and prospective customers
CIMA’s new operational structure COUNCIL/ GOVERNANCE STRUCTURE CIMA CHIEF EXECUTIVE CIMA GOVERNANCE & PROFESSIONAL STANDARDS - Director CIMA BRAND, PROFILE & MARKETING SUPPORT Director CIMA GLOBAL CORPORATE RELATIONS Director CIMA MARKETS Director CIMA EDUCATION Director CIMA OPERATIONS Director CIMA Market Regions CIMA Marketing Offices CIMA Regional Support MEMBERS/STUDENTS/CUSTOMERS/STAKEHOLDERS
Director New market development and support Africa UK, Ireland and Europe Middle East, South Asia North Asia ASEAN and Australasia CIMA Markets structure
A typical market may look like: Regional/Market Director Country office profile - legends, employers, media and other influencers Student Recruitment – individuals, employers, alliances/franchises Student support Liaison with tuition providers Member support and events Marketing Education and commercial product sales Offices will provide all or some of the services as close to market as possible There is an overriding need for efficiency and effectiveness which will dictate that some services will be delivered by the regional director from the most effective source Small offices will be supported by larger offices in the region
The new CIMA operational structure • Changing economic climate and customer • requirements • Fast rate of technology change and • business response times • Re-organisation to get closer to our stakeholders • Further enhanced service to Students, • Members and prospective customers
The new Chartered Management Accounting Qualification 2010 Angela Copland
Agenda – 2010 Qualification The Qualification Development Structure and Content of the Qualification T4 - Test of Professional Competence Transition - current to new qualification
Research and development As in 2004, we have worked with our qualification development partners the School of Management at the University of Bath Continuity in our methodology……
Research and development Employers of CIMA members and students Our members Our tuition providers The CIMA Faculty ….examiners, technical consultants and markers Our Higher Education partners Our students Extensive consultation and feedback with all key stakeholders
Radical restructuring of the qualification is considered unnecessary Subtle reform of the technical content …. and its assessment is required Research and development Research concluded:
Making more prominent ethics, corporate governance and green accounting extending these issues to areas where they are currently absent (e.g. environmental management accounting, finance) Research and development Research suggested:
Emphasising the following contemporary issues where relevant throughout the syllabus: Management Globalisation and international trade Outsourcing decisions /shared services Business partnering Research and development Research suggested:
The 2010 Qualification Structure and Content
Introduction The Chartered Management Accounting Qualification 2010 We regularly update the qualification …….to ensure that it remains highly relevant and meets the ever changing needs of employers and their staff
Award - Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting - Part A – Initial Professional Development Assessment of Practical Experience Part B–Case study examination based on Preseen and Unseen material Professional Competence Level – E3 Enterprise Strategy P3 Performance Strategy F3 Financial Strategy Strategic Level - - - Award - CIMA Advanced Diploma in Management Accounting E2 Enterprise Management P2 Performance Management F2 Financial Management - Management Level - - Award - CIMA Diploma in Management Accounting F1 Financial Operations E1 Enterprise Operations P1 Performance Operations - - - Operational Level
Award - Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting - Part A – Initial Professional Development Assessment of Practical Experience Part B–Case study examination based on Preseen and Unseen material Professional Competence Level – E3 Enterprise Strategy P3 Performance Strategy F3 Financial Strategy Strategic Level - - - Award - CIMA Advanced Diploma in Management Accounting E2 Enterprise Management P2 Performance Management F2 Financial Management - Management Level - - Award - CIMA Diploma in Management Accounting F1 Financial Operations E1 Enterprise Operations P1 Performance Operations - - - Operational Level
Key Syllabus Content • Change management • Green issues • Governance and ethics • Tax • Re-emphasis of: • Strategy and decision making • Risk management
The new T4 Part A – Initial Professional Development – Part B – Case Study Examination Assessment of Practical Experience based on Preseen and Unseen Material Professional Competence Level – T4 Test of Competence – Parts A and B T4 Test of Professional Competence in Management Accounting Part B success = at least 25 credits (from a maximum of 50 credits) Part A success = 50 credits
P10 P5 P6 P4 P2 P3 P1 P9 P8 P7 Transition arrangements The 2010 Qualification The 2005 Qualification A ‘one for one’ match
March/May First examinations based on the new 2010 qualification July Exam results published for the first diet of exams based on the 2010 qualification Key dates and deadlines In 2010:
The CIMA Difference Practical, on-the-job learning MBA programmes “Accounting” Regulatory andcompliance Management skills, financial orientation
The CIMA Emphasis The Accountancy Landscape Management Skills Decision Support Governance and Ethics Business Strategy Risk Management CIMA Narrative Reporting Financial Accounting And Compliance Management Accounting and Decision Making IFRS Tax Planning Sarbanes Oxley Treasury Policy Technical Skills
Conclusion Evolution …. not revolution …. changes based on primary stakeholder feedback Transition arrangements – simple Maintains currency with business needs The Chartered Management Accounting Qualification 2010
Transformation of the Finance Function Paul Gillot
Agenda CIMA ‘Improving Decision Making Forum’ Finance transformation Transformation enablers Business partners Conclusions
The future of finance “Accountants could go the way of (UK) coal miners – a mighty industry that once employed three quarters of a million and helped bring down a government today employs fewer employees than SmithKline Beecham. I believe that accountants in industry could go the same way if they do not realise the fundamental changes they need to make” the late Sir Hugh Collum Executive Vice President and Chief Financial Officer SmithKline Beecham
CIMA ‘Improving Decision Making Forum’ Finance transformation Transformation enablers Business partners Conclusions Agenda
Role of finance function is changing Business Partner Team Member Advocate Service Orientation Commentator Performance Evaluation Guardian Technically Competent Scorekeeper Transaction Based Time
Need for new, broader skills set
CIMA ‘Improving Decision Making Forum’ Finance transformation Transformation enablers Business partners Conclusions Agenda
Finance Cost Reduction 100% 50% Peer group World-class Labour Outsourcing Technology Other
The expanding role of SSCs Analysis &Reporting Transactional Highervalue Management Skills & technology enables
Raising the bar requires new skills Advanced Diploma Analysis &Reporting Diploma & Certificate in Mgt Accounting Transactional Management ACMA
CIMA ‘Improving Decision Making Forum’ Finance transformation Transformation enablers Business partners Conclusions Agenda
Finance’s contribution to improving decision making • Frame decisions • Finance data discipline • Managing for value • Performance management • Risk management • Analytics
Management Accountants’roles in Business Intelligence • BI strategy and Business Case • Implementation • Data Quality • Performance management • Analytics
CIMA ‘Improving Decision Making Forum’ Finance transformation Transformation enablers Business partners Conclusions Agenda
Conclusions CIMA Syllabus Career progression
CIMA Syllabus Cash Liquidity Cost Budgets Forecasts Performance management Risk management Scenario modelling Strategic options Business partnering Covers But does more of how it was the future