CIMA is more than just an accounting degree, renowned for opening doors to a rewarding, well-respected, and internationally growing career. To all those looking to pursue a career in finance or management, pursuing CIMA can be an ideal option, whether you are actively seeking to do so or are still considering your options.
If you are thinking of pursuing CIMA, you must be wondering what CIMA is all about at this time. What is the CIMA career scope? What career options are open to graduates of this course? Does CIMA have international recognition? What are the requirements to be eligible for CIMA? And so forth.
This article provides the answers to all of your doubts. Let’s learn more about CIMA as a profession and as a course.
CIMA: A Brief Overview
CIMA stands for The Chartered Institute of Management Accountants. It is a worldwide professional association for management accountants with its headquarters in the United Kingdom. Established in 1919, CIMA presently boasts more than 230,000 members and students in more than 180 nations.
CIMA focuses on management accounting, a blend of finance and corporate strategy, in contrast to standard accounting degrees that mostly focus on auditing or taxation.
Professionals with CIMA certification receive training to enhance performance, promote growth, and assist in company decision-making.
To increase its worldwide reach, CIMA joined forces with the American Institute of Certified Public Accountants (AICPA) in 2017 to establish the Association of International Certified Professional Accountants (AICPA & CIMA). Once you have your certificate, you can apply your knowledge to a variety of positions.
CIMA Scope in India: Top Jobs
-
Management Accountant
The majority of CIMA holders go on to work as management accountants for reputable companies. Because it entails monitoring the organization’s financial operations, this position is crucial. Management accountants are responsible for creating reports, assigning money, and making sure that resources are distributed appropriately.
Key duties include:
- Working on profit and loss statements on a monthly or annual basis is part of the job duties.
- Gathering and examining the company’s financial data
- Making reports that upper management can review.
-
Business Analyst
For CIMA students, this is a fantastic career opportunity. A business analyst quickly makes decisions for the organization after analyzing the opportunities. They use pertinent data to generate insights that may boost revenue and output.
Job duties include
- Maintaining digital documentation of the company’s business needs.
- Using technology to address any potential issues
-
Project Manager
The business and financial expertise as a CIMA-certified accountant might be helpful when managing projects for large corporations like banks or investment firms.
Key duties of a project manager include:
- Organizing projects and managing every aspect.
- Fulfilling all project execution deadlines
- Overseeing and allocating monies as needed.
Additional CIMA Jobs in India
CIMA members have access to a wide range of career choices: Corporate Finance Manager, Pricing Analyst, Financial Reporting Manager, Business Planning Manager, Financial Analyst, Financial Planning & Budgeting Manager, Managing Directors, and CEOs.
Top Industries for CIMA Professionals
There is a long list of industries in which the CIMA course can enable you to pursue a growing career:
- Expert services
- Financial services
- FMCG, retail, media, telecommunication, and IT in the public sector
- Transportation, Travel, and Recreation Engineering, Production, and Research
Frequently Asked Questions (FAQs)
Q: What is the scope of CIMA in India?
Ans: Some of the top CIMA jobs in India include corporate finance managers, pricing analysts, financial reporting managers, business planning managers, financial analysts, financial planning & budgeting managers, managing directors, and chief executive officers.
Q: What is CIMA Eligibility?
Ans: You must have a class 10 passing certificate, an O-level, an intermediate, or an A-level to enroll in the CIMA course.
Additionally, you can enroll in the course if you have a graduate or undergraduate degree in any field.
An MBA degree or a professional accounting qualification is the greatest path to an easy entrance into the CIMA course.
Q: Should I choose ACCA or CIMA?
Ans: Your long-term professional goals will probably determine whether you choose to pursue an ACCA or CIMA degree because each one enables you to specialize in a different area of accounting. Both courses are advanced accounting credentials and take roughly the same amount of time to finish.
Q: Who Can Apply for the CIMA Course in India?
Ans: You can pursue CIMA whether you have an MBA, are a recent graduate, or are a working professional with no background in finance. Many people choose CIMA over other finance certificates because of its very extensive eligibility standards.
