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Dave Rowsby Regional Director, Europe Stirling: 19 th February 2013. CIMA. CIMA Overview Going Global Recent years: How we have changed CGMA, The Chartered Global Management Accountant The CIMA Syllabus. Agenda. Objectives. ABOUT CIMA. - PowerPoint PPT Presentation
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CIMA
Dave RowsbyRegional Director, EuropeStirling: 19th February 2013
Objectives
CIMA OverviewGoing Global
Recent years: How we have changedCGMA, The Chartered Global Management AccountantThe CIMA Syllabus
Agenda
ABOUT CIMA
About CIMAThe largest Management Accounting Institute in the world203,000 members and students in over 170 countriesOffices around the worldAll sectors, all sizes243 exam centres in 90 countriesJoint venture with the AICPA
93% of the world’s top 100 global brands employ CIMA students and members98% of the Times 100 graduate employers employ CIMA students and members40% of CIMA members work outside the finance function
About CIMA
About our students and members
Anywhere, Any Sector…
The role of the manage nt accountantRole of the management 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
999
Finance transformation and management accounting skills
Efficiency Effectiveness
Our value chain
Reports published in 2012Financial performance of state owned enterprises in emerging economies A case study on Pakistan Railways
Managing inter-firm interdependencies in R&D investmentA look at how interdependent R&D investments can be coordinated across competing firms
Professional identity of management accountants: leadership in changing environmentsExploring 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 GLOBALAICPA JOINT VENTURE AND CGMA
141414
A requirement for a different skill set?
CIMA now gives you 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 CVMore job opportunitiesMore global connections.
CIMA now gives more
161616
CGMAs are part of a new,
worldwide network of management
accounting professionals, working
in and advising the world’s leading
corporations, private and public
organisations, small businesses
and start-ups.
CGMA’s
One global
standard
Code of ethics and enforcem
ent
Continuous professional developmen
t
Powered by a JV
between AICPA and
CIMA
SYLLABUS
Imagine ...
You sit in the plane and the pilot announces ...• 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:– 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 BOARDS & SENIOR MANAGERS
• Lead long-term sustainable success for organisation
• Develop, approve, communicate and oversee strategy and business model
MANAGEMENT ACCOUNTANTS• Support and drive decision
making• Manage performance• Create, preserve and report
value• Ethical conscience of business
Competencies MAs need to deliver• Core
accounting skills
• Business Acumen
• People skills• Leadership skills
Do accounting and finance
work
In the context of
the business
To influence people
And lead within the
organisation
ETHICS, INTEGRITY & PROFESSIONALISM
The CIMA Professional QualificationEquivalent 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
• Enterprise• Performance• Financial
LEVELS
• Operational • Management• Strategic
The pillars
ENTERPRISE PILLAR
FINANCIAL PILLAR
PERFORMANCE 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?
ENTERPRISE PILLAR
FINANCIAL PILLAR
PERFORMANCE 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?
• 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?
• 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?
The pillars
MA Competencies and the CIMA Qualification
• Core accounting skills
• Business Acumen
• People skills• Leadership skills
Do accounting and finance
work
In the context of
the business
To influence people
And lead within the
organisation
ETHICS, INTEGRITY & PROFESSIONALISM
ENTERPRISE PILLAR
PERFORMANCE PILLAR
ENTERPRISE PILLAR
ENTERPRISE PILLAR
PERFORMANCE PILLAR
FINANCIAL PILLAR
Delivering long term sustainable success involves ...
Develop and
communicate strategy
Align business to implement
strategy
Provide resources
to implement
strategy
Monitor and
measure performanc
e
Analyse and evaluate
performance
Review, report and
reward
PERFORMANCE PILLAR
FINANCIAL PILLAR
ENTERPRISE PILLAR
PERFORMANCE PILLAR
FINANCIAL PILLAR
ENTERPRISE PILLAR
PERFORMANCE PILLAR
ENTERPRISE PILLAR
ENTERPRISE PILLAR
PERFORMANCE PILLAR
FINANCIAL PILLAR
PERFORMANCE 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 phases1 • 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