CIMA

Dave RowsbyRegional Director, EuropeStirling: 19th February 2013

Objectives

CIMA OverviewGoing Global

Recent years: How we have changedCGMA, The Chartered Global Management AccountantThe CIMA Syllabus

Agenda

ABOUT CIMA

About CIMAThe largest Management Accounting Institute in the world203,000 members and students in over 170 countriesOffices around the worldAll sectors, all sizes243 exam centres in 90 countriesJoint venture with the AICPA

93% of the world’s top 100 global brands employ CIMA students and members98% of the Times 100 graduate employers employ CIMA students and members40% of CIMA members work outside the finance function

About CIMA

About our students and members

Anywhere, Any Sector…

The role of the manage nt accountantRole of the management accountant

CIMA:WE’RE ON A JOURNEY

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

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Finance transformation and management accounting skills

Efficiency Effectiveness

Our value chain

Reports published in 2012Financial performance of state owned enterprises in emerging economies A case study on Pakistan Railways

Managing inter-firm interdependencies in R&D investmentA look at how interdependent R&D investments can be coordinated across competing firms

Professional identity of management accountants: leadership in changing environmentsExploring the meaning of identity and leadership for MAs as a professional group

http://www.cimaglobal.com/Thought-leadership/

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

CIMA:GOING GLOBALAICPA JOINT VENTURE AND CGMA

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A requirement for a different skill set?

CIMA now gives you more

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 CVMore job opportunitiesMore global connections.

CIMA now gives more

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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.

CGMA’s

One global

standard

Code of ethics and enforcem

ent

Continuous professional developmen

t

Powered by a JV

between AICPA and

CIMA

SYLLABUS

Imagine ...

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?

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

The business of business

BUSINESSES• Create value for stakeholders BOARDS & SENIOR MANAGERS

• Lead long-term sustainable success for organisation

• Develop, approve, communicate and oversee strategy and business model

MANAGEMENT ACCOUNTANTS• Support and drive decision

making• Manage performance• Create, preserve and report

value• Ethical conscience of business

Competencies MAs need to deliver• Core

accounting skills

• Business Acumen

• People skills• Leadership skills

Do accounting and finance

work

In the context of

the business

To influence people

And lead within the

organisation

ETHICS, INTEGRITY & PROFESSIONALISM

The CIMA Professional QualificationEquivalent 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

The CIMA Professional Qualification

PILLARS

• Enterprise• Performance• Financial

LEVELS

• Operational • Management• Strategic

The pillars

ENTERPRISE PILLAR

FINANCIAL PILLAR

PERFORMANCE PILLAR

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?

How do we prepare and interpret financial statements to show how well we are doing and to help us make decisions?

ENTERPRISE PILLAR

FINANCIAL 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 mean compared to our peers and our past performance?

The pillars

MA Competencies and the CIMA Qualification

• Core accounting skills

• Business Acumen

• People skills• Leadership skills

Do accounting and finance

work

In the context of

the business

To influence people

And lead within the

organisation

ETHICS, INTEGRITY & PROFESSIONALISM

ENTERPRISE PILLAR

PERFORMANCE PILLAR

ENTERPRISE PILLAR

ENTERPRISE PILLAR

PERFORMANCE PILLAR

FINANCIAL PILLAR

Delivering long term sustainable success involves ...

Develop and

communicate strategy

Align business to implement

strategy

Provide resources

to implement

strategy

Monitor and

measure performanc

e

Analyse and evaluate

performance

Review, report and

reward

PERFORMANCE PILLAR

FINANCIAL PILLAR

ENTERPRISE PILLAR

PERFORMANCE PILLAR

FINANCIAL PILLAR

ENTERPRISE PILLAR

PERFORMANCE PILLAR

ENTERPRISE PILLAR

ENTERPRISE PILLAR

PERFORMANCE PILLAR

FINANCIAL PILLAR

PERFORMANCE PILLAR

SYLLABUS REVIEW

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

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

Syllabus development phases1 • Research to develop competency framework

• 2012

2• Develop syllabus and related assessment in line with

competency framework• 2013

3• Launch syllabus, develop learning materials, market

qualification• 2014

4 • First Assessment• May 2015

CIMA: financially qualified business leaders