Dave Rowsby
Regional Director, Europe
Stirling: 19th February 2013
CIMA
Objectives
Agenda
• CIMA Overview
• Going Global
– Recent years: How we have changed
– CGMA, The Chartered Global Management Accountant
• The CIMA Syllabus
ABOUT CIMA
About CIMA
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About CIMA
The largest Management Accounting Institute in the world
203,000 members and students in over 170 countries
Offices around the world
All sectors, all sizes
243 exam centres in 90 countries
Joint venture with the AICPA
About our students and members
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93% of the world’s top 100 global brands employ CIMA students and members
98% of the Times 100 graduate employers employ CIMA students and members
40% of CIMA members work outside the finance function
Anywhere, Any Sector…
TheRole
roleof
of the
the management
manage nt accountant
CIMA:
WE’RE ON A JOURNEY
CIMA’s mission is …
• Find out from people and businesses
what they need to succeed
• Search for ways that CIMA can meet
those needs
• Demonstrate convincingly to people and
businesses how CIMA can meet their
needs
Finance transformation and
management accounting skills
Efficiency
Effectiveness
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Our value chain
Reports published in 2012
Financial performance of state owned
enterprises in emerging economies
A case study on Pakistan Railways
Managing inter-firm interdependencies in
R&D investment
A look at how interdependent R&D
investments can be coordinated across
competing firms
Professional identity of management
accountants: leadership in changing
environments
Exploring the meaning of identity and
leadership for MAs as a professional group
http://www.cimaglobal.com/Thought-leadership/
Reports published in 2012
• Rebooting business:
valuing the human dimension
• Improving decision making;
Unlocking Business Intelligence
• Strategic performance management in
the public sector
• Managing the challenges
of the family business
CIMA:
GOING GLOBAL
AICPA JOINT VENTURE AND CGMA
A requirement for a different skill set?
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CIMA
nowyou
gives
more
CIMA now
gives
more
• CGMA is the new global designation for management accountants
powered by two of the world’s most prestigious accounting
organisations – AICPA (the American institute of CPAs) and CIMA.
• Complete the CIMA qualification, become a CIMA member and you
will also be a CGMA.
What will this do for members?
• More power to a CV
• More job opportunities
• More global connections.
CGMA’s
CGMAs are part of a new,
worldwide network of management
accounting professionals, working
One global
standard
Code of
ethics and
enforcement
Continuous
professional
development
Powered by
a JV
between
AICPA and
CIMA
in and advising the world’s leading
corporations, private and public
organisations, small businesses
and start-ups.
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SYLLABUS
Imagine ...
You sit in the plane and the pilot announces ...
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We will be flying you from Sydney to
London
The flight is approximately 24 hours
We will try to get you to London but
don’t count on it
We might not pay attention to the
signals we receive as we fly
If we are unable to continue we will
“land” wherever we are even if it is in
the middle of shark-infested seas
And by the way we don’t have life
jackets ... so God help you
... What will you do? ... Will you still fly?
Pilots carry us from one place to another ...
• Though journey may not always smooth and comfortable
• Failure is not an option because:
– At best failure can be very inconvenient
– At worst failure can be fatal
• To succeed they have to:
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Map the journey well
Ensure that they have what they need to fly
Plan for and manage risks
Work well with others
Use information well
• Businesses should do the same
The business of business
BUSINESSES
• Create value for stakeholders
MANAGEMENT ACCOUNTANTS
• Support and drive decision
making
• Manage performance
• Create, preserve and report
value
• Ethical conscience of business
BOARDS & SENIOR MANAGERS
• Lead long-term sustainable
success for organisation
• Develop, approve,
communicate and oversee
strategy and business model
Competencies MAs need to deliver
• Core
accounting
skills
• Leadership
skills
• Business
Acumen
Do
accounting
and finance
work
In the
context of
the business
And lead
within the
organisation
To influence
people
• People skills
ETHICS, INTEGRITY & PROFESSIONALISM
The CIMA Professional Qualification
Equivalent to a Master’s Degree
• The National Recognition Information
Centre for the United Kingdom (UK
NARIC)
Varying levels of qualification
• Certificate in Business Accounting
• Diploma in Management Accounting
• Advanced Diploma in Management
Accounting
Membership
• Associate – ACMA, CGMA
• Fellow – FCMA, CGMA
The CIMA Professional Qualification
PILLARS
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Enterprise
Performance
Financial
LEVELS
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Operational
Management
Strategic
The pillars
ENTERPRISE
PILLAR
PERFORMANCE
PILLAR
FINANCIAL
PILLAR
How do we develop strategy
and plan for its effective
implementation?
How do we ensure that our
strategy is realistic and that we
are implementing it
effectively?
How do we prepare and
interpret financial statements
to show how well we are
doing and to help us make
decisions?
The pillars
ENTERPRISE
PILLAR
• Where are we going?
• How do we get there?
• What do we need to get
there?
• How do we align people,
culture, processes, systems
and structures to deliver?
PERFORMANCE
PILLAR
• Is our plan realistic?
• What resources do we need
to get there?
• When and how should they
be provided?
• What can prevent us from
doing what we set out to
do?
• How are we doing so far and
why?
• What do we need to
change?
FINANCIAL
PILLAR
• Is our plan financially
viable?
• How much money do we
need to get there?
• Where do we get the
money from?
• How well have we done at
the end of the period?
• What does it mean
compared to our peers and
our past performance?
MA Competencies and the CIMA Qualification
PERFORMANCE
PILLAR
• Core
accounting
skills
FINANCIAL
PILLAR
ENTERPRISE
PILLAR
• Leadership
skills
• Business
Acumen
Do
accounting
and finance
work
In the
context of
the business
And lead
within the
organisation
To influence
people
ENTERPRISE
PILLAR
PERFORMANCE
PILLAR
• People skills
ETHICS, INTEGRITY & PROFESSIONALISM
ENTERPRISE
PILLAR
Delivering long term sustainable success involves ...
ENTERPRISE
PILLAR
ENTERPRISE
PILLAR
PERFORMANCE
PILLAR
FINANCIAL
PILLAR
PERFORMANCE
PILLAR
FINANCIAL
PILLAR
PERFORMANCE
PILLAR
Review,
report and
reward
Analyse and
evaluate
performance
Monitor and
measure
performance
PERFORMANCE
PILLAR
Develop and
communicate
strategy
Align
business to
implement
strategy
ENTERPRISE
PILLAR
Provide
resources to
implement
strategy
ENTERPRISE
PILLAR
PERFORMANCE
PILLAR
FINANCIAL
PILLAR
SYLLABUS REVIEW
CIMA’s mission is …
• Find out from people and businesses
what they need to succeed
• Search for ways that CIMA can meet
those needs
• Demonstrate convincingly to people and
businesses how CIMA can meet their
needs
RELEVANT
Syllabus Review: Guiding Principles
• Vision
– To provide organisations with competent and confident MA professionals who
will be able to guide and lead them to sustainable success
• Enhance CIMA’s reputation with employers
– Maintain relevance syllabus to employer competency needs
– Ensure rigour of assessment
• Enhance learning experience of students
– Use the syllabus structure to drive the teaching and learning experience
– Use the assessment structure and practice to drive the teaching and learning
experience
– If we get it right then a lot more students will acquire the skills and
competencies and will pass the examinations
Syllabus development phases
1
• Research to develop competency framework
• 2012
2
• Develop syllabus and related assessment in line with competency framework
• 2013
3
• Launch syllabus, develop learning materials, market qualification
• 2014
4
• First Assessment
• May 2015
CIMA:
financially qualified business leaders