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CIMA

Dave Rowsby Regional Director, Europe Stirling: 19 th February 2013. CIMA. CIMA Overview Going Global Recent years: How we have changed CGMA, The Chartered Global Management Accountant The CIMA Syllabus. Agenda. Objectives. ABOUT CIMA.

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CIMA

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  1. Dave Rowsby Regional Director, Europe Stirling: 19th February 2013 CIMA

  2. CIMA Overview Going Global Recent years: How we have changed CGMA, The Chartered Global Management Accountant The CIMA Syllabus Agenda Objectives

  3. ABOUT CIMA

  4. The largest Management Accounting Institute in the world 203,000 members and students in over 170 countries Offices around the world All sectors, all sizes 243 exam centres in 90 countries Joint venture with the AICPA 93% of the world’s top 100 global brands employ CIMA students and members 98% of the Times 100 graduate employers employ CIMA students and members 40% of CIMA members work outside the finance function About CIMA About CIMA About our students and members

  5. Anywhere, Any Sector…

  6. Role of the management accountant The role of the manage nt accountant

  7. CIMA:We’re on a journey

  8. CIMA’s mission is … • Find out from people and businesses what they need to succeed • Search for ways that CIMA can meet those needs • Demonstrate convincingly to people and businesses how CIMA can meet their needs

  9. Finance transformation and management accounting skills Effectiveness Efficiency

  10. Our value chain

  11. Reports published in 2012 Financial performance of state owned enterprises in emerging economies A case study on Pakistan Railways Managing inter-firm interdependencies in R&D investment A look at how interdependent R&D investments can be coordinated across competing firms Professional identity of management accountants: leadership in changing environments Exploring the meaning of identity and leadership for MAs as a professional group http://www.cimaglobal.com/Thought-leadership/

  12. Reports published in 2012 • Rebooting business: valuing the human dimension • Improving decision making;Unlocking Business Intelligence • Strategic performance management in the public sector • Managing the challenges of the family business

  13. CIMA:GOING GLOBALAICPA Joint venture and CGMA

  14. A requirement for a different skill set?

  15. CGMA is the new global designation for management accountants powered by two of the world’s most prestigious accounting organisations – AICPA (the American institute of CPAs) and CIMA. Complete the CIMA qualification, become a CIMA member and you will also be a CGMA. What will this do for members? More power to a CV More job opportunities More global connections. CIMA now gives more CIMA now gives you more

  16. CGMA’s CGMAs are part of a new, worldwide network of management accounting professionals, working in and advising the world’s leading corporations, private and public organisations, small businesses and start-ups.

  17. SYLLABUS

  18. Imagine ...

  19. You sit in the plane and the pilot announces ... • We will be flying you from Sydney to London • The flight is approximately 24 hours • We will try to get you to London but don’t count on it • We might not pay attention to the signals we receive as we fly • If we are unable to continue we will “land” wherever we are even if it is in the middle of shark-infested seas • And by the way we don’t have life jackets ... so God help you ... What will you do? ... Will you still fly?

  20. Pilots carry us from one place to another ... • Though journey may not always smooth and comfortable • Failure is not an option because: • At best failure can be very inconvenient • At worst failure can be fatal • To succeed they have to: • Map the journey well • Ensure that they have what they need to fly • Plan for and manage risks • Work well with others • Use information well • Businesses should do the same

  21. The business of business BUSINESSES BOARDS & SENIOR MANAGERS Lead long-term sustainable success for organisation Develop, approve, communicate and oversee strategy and business model • Create value for stakeholders MANAGEMENT ACCOUNTANTS • Support and drive decision making • Manage performance • Create, preserve and report value • Ethical conscience of business

  22. Competencies MAs need to deliver ETHICS, INTEGRITY & PROFESSIONALISM

  23. The CIMA Professional Qualification Equivalent to a Master’s Degree • The National Recognition Information Centre for the United Kingdom (UK NARIC) Varying levels of qualification • Certificate in Business Accounting • Diploma in Management Accounting • Advanced Diploma in Management Accounting Membership • Associate – ACMA, CGMA • Fellow – FCMA, CGMA

  24. Enterprise Performance Financial Operational Management Strategic The CIMA Professional Qualification • PILLARS • LEVELS

  25. The pillars FINANCIAL PILLAR ENTERPRISE PILLAR PERFORMANCE PILLAR How do we prepare and interpret financial statements to show how well we are doing and to help us make decisions? How do we develop strategy and plan for its effective implementation? How do we ensure that our strategy is realistic and that we are implementing it effectively?

  26. The pillars FINANCIAL PILLAR ENTERPRISE PILLAR PERFORMANCE PILLAR • Where are we going? • How do we get there? • What do we need to get there? • How do we align people, culture, processes, systems and structures to deliver? • Is our plan realistic? • What resources do we need to get there? • When and how should they be provided? • What can prevent us from doing what we set out to do? • How are we doing so far and why? • What do we need to change? • Is our plan financially viable? • How much money do we need to get there? • Where do we get the money from? • How well have we done at the end of the period? • What does it meancompared to our peers and our past performance?

  27. MA Competencies and the CIMA Qualification PERFORMANCE PILLAR ENTERPRISE PILLAR FINANCIAL PILLAR PERFORMANCE PILLAR ENTERPRISE PILLAR ENTERPRISE PILLAR ETHICS, INTEGRITY & PROFESSIONALISM

  28. Delivering long term sustainable success involves ... ENTERPRISE PILLAR ENTERPRISE PILLAR PERFORMANCE PILLAR PERFORMANCE PILLAR FINANCIAL PILLAR ENTERPRISE PILLAR PERFORMANCE PILLAR FINANCIAL PILLAR PERFORMANCE PILLAR ENTERPRISE PILLAR PERFORMANCE PILLAR FINANCIAL PILLAR

  29. SYLLABUS REVIEW

  30. CIMA’s mission is … • Find out from people and businesses what they need to succeed • Search for ways that CIMA can meet those needs • Demonstrate convincingly to people and businesses how CIMA can meet their needs RELEVANT

  31. Syllabus Review: Guiding Principles • Vision • To provide organisations with competent and confident MA professionals who will be able to guide and lead them to sustainable success • Enhance CIMA’s reputation with employers • Maintain relevance syllabus to employer competency needs • Ensure rigour of assessment • Enhance learning experience of students • Use the syllabus structure to drive the teaching and learning experience • Use the assessment structure and practice to drive the teaching and learning experience • If we get it right then a lot more students will acquire the skills and competencies and will pass the examinations

  32. Syllabus development phases

  33. CIMA:financially qualified business leaders

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