The Chartered Institute of Management Accounts is a respectable professional body in the modern business and accounting industry. This organization is known to provide continued support and training to accountants and finance managers working in this field. The CIMA certifications are intended to assist students to acquire a fundamental knowledge of business and finance operations in a bid to help them develop the critical skills that modern employers so badly need.

CIMA Certifications at a Glance

With CIMA training, you will be doing much more than just adding new skills to your resume. You will be getting the kind of competence that employers demand from their employees across the globe. A look at the CIMA certificates at a glance reveals 5 comprehensive paths starting with the CIMA Certificate in Business Accounting. The other options include the CIMA Professional Qualification, CGMA Finance Leadership Program, Apprenticeships for England, and Islamic Finance. Let’s review some of these in detail:

• From the name, the CIMA Certificate in Business Accounting is all about better skills for handling quality business operations. This training was designed to help students with or without an accounting or finance background to unlock their full potential by gaining a fundamental understanding of business, accounting, and management principles. In general, it targets candidates with little to no experience in the field and also acts as the entry step on the CIMA professional qualification path. The entire syllabus of this certificate should be completed in 12-18 months and comprises 4 subjects including BA1 Fundamentals of Business Economics, BA2 Fundamentals of Management Accounting, BA3 Fundamentals of Financial Accounting, and BA4 Fundamentals of Ethics, Corporate Governance, and Business Law.
• The CIMA Professional Qualification, on the other hand, guarantees the applicant’s competency in the management accounting field. It brings great value to one’s career by confirming if the exam-takers have the determination and expertise to guide their organizations to sustainable success. Over the years, this training has been recognized as the most significant element of qualification in the business world. Moreover, it is the accomplishment you will need to propel business operations to new heights across different sectors. With that being said, this qualification reveals 3 learning pillars including Enterprise, Performance, and Financial. And when you look at it from a progressive perspective, it has a total of 3 levels including Operational, Management, and Strategic. Finally, the candidates are given 3 to 6 years to complete this track, and they should be ready to pass as many as 12 exams during this period.
• The CGMA Finance Leadership Program, sometimes known as FLP, is an assessment of professional experience at the highest level. It is the clearest path to the Chartered Institute of Management Accountants (CIMA) Professional Qualification and the Chartered Global Management Accountant (CGMA) accreditation. Generally, this path is designed to help fast-track your career in the finance domain.

The Most Popular CIMA Exams

In case you want to know more about the certification process, read on to get aware of the details of some of the most popular CIMA exams. These are as follows:

1. BA1 Fundamentals of Business Economics

This exam addresses the operating and economic aspects of business operations and the impact of government policy and financial marketing trends on an organization. Passing it is one of the requirements for earning the CIMA Certificate in Business Accounting. Usually, this test is computer-based, has a seat time of 2 hours, and features a maximum of 60 questions. The range of question formats differs from number entries to drag and drops, and multiple-choice items. With that in mind, the BA1 Fundamentals of Business Economics exam will cover the following domains:

• Domain 1: Macroeconomic and institutional context of business (25%)
• Domain 2: Microeconomic and organizational context of business (30%)
• Domain 3: Informational context of business (20%)
• Domain 4: Financial context of business (25%)

2. P1 Management Accounting Exam

The P1 Management Accounting test is one of the Operational-level exams leading to the attainment of the CIMA Diploma in Management Accounting (CIMA Dip MA) certification. It is intended to help students master the details of costing including its importance, methods, and techniques involved as well as the details of digital costing. Also, it covers the implementation of budgets across an organization and techniques that can be adopted to guarantee sound decision-making. In general, the P1 Management Accounting exam which is computer-based will run for 90 minutes with the provisional results received within 48 hours. It features a total of 4 examinable domains, including cost accounting for decision and control, budgeting and budgetary control, short-term commercial marking, and risk and uncertainty in the short term.

3. E3 Strategic Management

This test grants candidates admission into the Membership of the Chartered Institute of Management Accountants and the CGMA certification. It is all about mastering the dynamics within an organization’s ecosystem and the impact it may have on this organization. From the name, this test will address the strategic choices, including the generation of options and how to link them to the vision, values, and purpose of the company. Primarily, this exam focuses on a total of 5 objectives that are the following;

• The strategy process
• Analyzing the organizational ecosystem
• Generating strategic options
• Making strategic choices
• Strategic control
• Digital strategy

Career Options

CIMA certifications provide an excellent link between finance, management, and operations. And many candidates who pass these tests qualify for a ton of strategy-based and commercial roles in modern IT environments including the following positions supplemented with average annual salaries as per PayScale:

• Finance manager ($93k)
• Accounting assistant ($42k)
• Management accountant ($62k)
• Business analyst ($70k)
• Management consultant ($88k)
• Chief financial officer ($137k)

Certification Path

The CIMA certifications follow a specific path and are arranged in a unique order according to career levels. This means that a lower-level program may ultimately qualify you for advanced certificates as you validate your skills along this track. For example, the CIMA Certificate in Business Accounting is an entry-level qualification that will help you take the next step in your career through CIMA Professional Qualification. If you complete the entire accreditation program along the CIMA professional track, you may want to check out the alternative options from recognized vendors such as the Association of Chartered Certified Accountants (ACCA).

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