The first is employability. The world will always require management, accountants, financial professionals as it's what helps drive business success. The second is mobility as CIMA is an internationally recognised qualification so you can go anywhere in the world and get a job. Thirdly, it provides progressability because the way the course is devised will ensure what you study will help you grow in an organisation. It's early days, because the new syllabus is just been launched but the initial feedback has been incredibly positive from employers as it addresses the core needs they have.
We're very pleased with the level of response from employers and from various lectures in relation to the content of the course. We believe it's a very modern course now and up to date. Plus, we do change our syllabus regularly to make sure we do stay up to date with what's happening in the marketplace. Businesses need advice, if you have this very fast moving environment, strategy is where people need knowledge.
So what the consultancy firms are seeing is that their consultants who study CIMA are given the tools necessary to allow them to advise companies and get under the bonnet of what an organisation does. This is not only about being strategic, but it's also having a very good understanding of the financials within an organisation, so a lot of people are going towards that.
I think a lot of young people out there box accountancy into a very narrow field. But the beauty of CIMA is you can go down the number of different paths.
We had one member who works in the public service in Northern Ireland at the Department of Justice, and part of their role was to gauge the increase in criminality to look at how many prisons will be required and how many police officers will be needed. For any business that's a risk as it was a good income stream. But the view in CIMA was that we needed to encourage more people into the profession and an inhibiting factor that stops people from getting in is cost, particularly if you've just left college and have huge fees.
Plus, most people start to study CIMA at the start of their careers, so they haven't got a huge amount of money. They've also spent 4 or 5 years studying certain elements of a particular course. So credit should be given for that. It's also where the world is going and we wanted to give credit for the studies that people have already achieved so we're making it more affordable.
Hopefully, that will bring in a wider spectrum of people who previously would have liked to go into a management accountant business type qualification. It can only be positive for the profession as a whole.
Not ready to commit? No problem! What is your full name? This is a digital high five. We can help with that! Sign up now for the latest finance jobs, the freshest news and the very best advice. Download a free PDF copy. There are many ways to interpret the term sustainability, but whether it means environmental performance, corporate citizenship, long term business perspectives or all three, it is a growing priority for businesses of all sizes.
Download the PDF version here. New analysis of survey data conducted by the CIMA centre of excellence at the University of Bath school of management finds that SMEs have not transformed their finance functions, and do not engage management accountants to support decision making to the same extent as leading organisations.
To find out more on how finance in SMEs can play a key role in creating growth in the current economic climate, download the free report. Below are resources for those starting a business, expanding internationally or for those who act as advisors for small businesses. General global resources International Federation of Accountants IFAC : its international centre for small and medium practices has links to global business resources provided by its member professional accountancy bodies.
It features case studies to illustrate the concepts, checklists and forms, a list of further readings, and modules that may be used for training and education to enable practitioners to operate in a safe, profitable, and professional manner. A small business checklist is also available from IFAC. The checklist includes sections on financial tasks, strategic management tasks, and regulatory requirements. The programme contains SME resources for many regions around the world.
Doing business: a collaborative project between the International Finance Corporation IFC and the World Bank providing economic and regulatory data for economies. Transparency International : its corruption perceptions index CPI puts the issue of corruption on the international policy agenda. The CPI ranks almost countries by their perceived levels of corruption, as determined by expert assessments and opinion surveys. Business anti-corruption portal : a comprehensive and practical tool tailored to meet the corruption risk management needs of small and medium sized companies SME's.
External website disclaimer CIMA cannot accept responsibility for information contained in external websites. The inclusion of links within these pages is for guidance only and does not constitute a recommendation by CIMA. How CIMA benefits your business. We will tailor our range of services to ensure you gain the biggest advantage, working with you to: Recruit quality talent at all levels of your organisation, through our established partnerships.
Understand your skills and competency needs and dovetail our qualifications and CPD services to maximise financial expertise and business insight.
Provide support for upholding professional standards and ethics. Help spark the next big idea by involving your organisation in developing our innovation themes. CIMA in practice CIMA in the private sector Business is changing and management boards across the world are facing an array of increasingly complex issues to navigate their businesses through: Finding fresh sources of growth Global regulation The recession Innovation of new business models Transparency and ethical behaviour Ascent of developing economies Unstoppable rise of digitisation Sourcing talent Information management Outsourcing Focus on cash, costs, forecasting, resources and systems Gen Z In the middle of all this change, one thing is clear: businesses need the right people with the right skills in order to drive sustainable business performance.
CIMA in the public sector The after effects of the global recession have seen many countries make significant cuts in public spending, and governments rethink the nature of their public sectors. CGMA designation holders have three particular areas of strength for this sector. Management and strategy Advise on governance, regulatory and risk strategies to enhance effective management of the organisation.
Design and implement change management programmes to transform organisational performance and culture. Advise as to how to attract, develop and retain talent with relevant skills to support organisational changes. Implement new processes to improve operations and efficiency. Business performance and risk management Apply performance management techniques to provide higher value analysis.
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