The corporate sector is booming so is the demand for accounting professionals. As they say, finance is the backbone of the corporates and there should be thorough professionals to manage it. With this, the opportunities for accounting professionals such as CA, ICWA, CIMA and CFA have increased manifold and more and more students are coming forward to take up these programmes.
And CIMA is no exception. Students from all streams are studying the CIMA course to become management accountants also known as corporate accountants.The management accountants have good career prospects and play a pivotal role in the financial management of a company.
Let’s see what CIMA is and the role of a management accountant?
CIMA is the acronym for Chartered Institute of Management Accountants. CIMA is a UK-based professional organization which provides training and qualification in the field of management accountancy.
Management accountants are important cogs in the financial wheel of a company. They are the key personnel ensuring the financial security and success of a company. Their main focus will be on cost accounting, financial planning and matters relating to management issues. The management accountants main tasks involve budgeting, taxation, asset management and strategic planning.
They will also study, review and interpret the financial statements to help in taking business decisions. These accountants, after meticulous study of the accounts, provide budgets and forecasts to help in chalking out concrete business plans.
As in any accounting professional courses, the CIMA syllabus too is exhaustive, to say the least. Almost all topics relating to financial planning, management accounting and management are covered under the syllabus.
The overall syllabus, divided into three levels, is as follows:
As this course is also formatted in the self-study pattern, if the student doesn’t have the determination to work hard then things can go awry. So the best choice is to join a coaching centre which gives classes on various subjects of CIMA. You should find out whether the centre has expert teachers and the quality of the curriculum.
The preparation for the CIMA examinations should be carried out with proper planning to taste success and become a member of CIMA.
Choose a tuition centre that can bring you success.