Looking to get ahead in management accounting? Start with CIMA…
Standing for the Chartered Institute of Management Accountants, CIMA is the world’s largest professional body of management accountants. This makes it the most useful accounting qualification for anyone looking to pursue a career in business or finance.
But what job can you get with CIMA? We spoke to Kaplan, the UK leader in financial, accountancy and business training, to find out just a few of your career options:
What qualifications do I need to start studying CIMA?
Anyone can study CIMA from certificate level.
There are no formal entry requirements, but you are expected to have good mathematical and English skills (equivalent to GCSE grade C/4 or above).
So whether you’re already working in business and finance, you’re looking to break into the industry, or you want to start your own business, CIMA could be for you.
How long does it take to study CIMA?
Because you can usually study CIMA at your own pace, the exact duration of your course may vary depending on whether you’re studying part-time of full-time.
Typically, the CIMA Certificate will take around a year to complete, whilst the CIMA Professional qualification will usually take a further four years.
What jobs can I do with CIMA?
There are a variety of roles you can do with a CIMA qualification, whether you’re using it to break into the industry, or you’re studying at a higher level to boost your career.
What do they do? Process invoices, credit control, expense claims, bank reconciliations and more. It’s a broad and varied role that involves providing administrative support to Accountants.
Salary expectations: £23,000 (approx.)
What do they do? Differing from a Financial Accountant who focuses on the aggregation of data into financial statements, it’s a Management Accountant’s role to deal with the internal processes involved with accounting for business transactions. They use their knowledge of the business and interpretation of financial data (e.g. monthly accounts, balance sheets, profit and loss reports, budgets etc.) to make informed strategic decisions.
Salary expectations: £40,000 (approx.)
What do they do? Use their Provide support to senior leadership teams, using their skills in financial modelling, risk management and business partnering. They also explain complex financial information to people who might not know about finance.
Salary expectations: £53,000 (approx.)
What do they do? Help organisations improve business performance, maximise growth, and solve issues, by suggesting and advising on the implementation of strategic decisions. This involves researching the company, identifying problems or areas for improvement, and presenting findings and recommendations.
Salary expectations: £59,000 (approx.)
What do they do? In larger companies, the Finance Managers focus on strategic analysis, whilst those working for smaller organisations are more likely to be involved in the collection and preparation of accounts. Other responsibilities include managing and developing junior staff, being the point of contact for audits (both internal and external), and reporting actuals to management.
Salary expectations: £49,000 (approx.)
Chief Financial Officer (CFO)
What do they do? Take responsibility for the financial well-being of an organisation, by managing and reporting on an organisation’s finances. They’re accountable for process and risk management, providing strategic recommendations, operations, financial planning, and financial information, as well as the leadership and direction of the wider team.
Salary expectations: £100,000+ (approx.)
What do I need?
Being CIMA qualified in some capacity will help boost your employability in all of the above roles.
The CIMA Certificate will make you eligible for entry-level to mid-level roles, whilst the CIMA Professional qualification is usually required for more senior level roles.
For example, Business Analysts and CFOs tend to be fully qualified chartered accountants, having studied CIMA Professional.
Why study with Kaplan?
Whatever study method or course you’re interested in, Kaplan have something for you.
Not only are they one of the UKs most respected course providers, offering industry leading training in accounting and business expertise, they also provide a wide range of different types of learning – including classroom, distance and online learning.
Other benefits of studying with Kaplan include:
- Exceptional pass rates across all of their courses
- Only approved publisher of CIMA materials, which are reviewed with insights from examiners and past exam questions to make sure you’re taught exactly what you need to know to pass
- Interest free payment plans
- Prices inclusive of exams and study materials
- Industry leading support – whether online, or in class
- World recognised qualifications, and endorsements from some of the UK’s biggest businesses (including all of the top 10 accounting firms)
- Benefit from a multi award-winning unique online study method, Ondemand
Kaplan are the UK leader in financial, accountancy and business training. Their mission is to help individuals achieve their goals and realise their potential.
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