Chartered Institute of Management (CIMA)
About Chartered Institute of Management
The CIMA (Chartered Institute of Management Accountants) is a professional body, based in UK, which proffers training and qualification in management accountancy and similar subjects which are focused on accounting for business in addition to ongoing support for members. The Chartered Institute of management is one of the various professional associations for accountants in the Republic of Ireland as well as the UK.
The particular focus of the CIMA is on developing the management accounting profession in UK as well as throughout the world. Moreover, CIMA is one of the largest management accounting bodies in the world and includes more than 1,72,000 members and students in about 165 countries. Besides, CIMA is also a member of the International Federation of Accountants.
History of Chartered Institute of Management
CIMA is believed to have been founded in 1919 as “The Institute of Cost and Works Accountants” (ICWA) and specialized in the development of accounting techniques that can be used in the internal control of manufacturing, service and public sector operations. Moreover, it also developed a position as the top professional body in the areas of budgeting, product costing, investment appraisal, budgeting, and business decision making.
In 1972, the name of the institute was change from ICWA to the Institute of Cost and Management Accountants (ICMA) and later to the Chartered Institute of Management Accountants (CIMA) in 1986.
Career options for professionals & students from CIMA
Qualifications from CIMA can take you around the world for it is a globally recognized professional institute and uniform syllabus is followed at all centers around the world. The professionals from CIMA work with small and medium sized business, business sector, and public sector to prepare and develop the staff.
The students and members qualified by CIMA are in major financial management roles across these sectors, like
- Project manager
- Management consultant
- Chief administrative officer
- Head of customer operations
- Relationship manager
- Head of group strategy and planning
- Business analyst or information analyst
- Sales planning manager
- Change consultant
- Business manager
- Debt ratios
- Liquidity ratios
- Profitability ratios
- Asset management ratios
- Cash Flow Indicator Ratios
- Market value ratios
- Financial analysis
- Business Terms
- Financial education
- International Financial Reporting Standards (EU)
- IFRS Interpretations (EU)
- Financial software