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BPP PROFESSIONAL EDUCATION CIMA A rewarding career in Business Nicola Davis Faculty Manager of Professional Qulaifications, Birmingham

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Presentation on theme: "BPP PROFESSIONAL EDUCATION CIMA A rewarding career in Business Nicola Davis Faculty Manager of Professional Qulaifications, Birmingham"— Presentation transcript:

1 BPP PROFESSIONAL EDUCATION CIMA A rewarding career in Business Nicola Davis Faculty Manager of Professional Qulaifications, Birmingham

2 BPP PROFESSIONAL EDUCATION Overview Who are CIMA? The Syllabus and the Exams Practical experience requirements Key dates and Costs Are you ready for CIMA? Contacts

3 BPP PROFESSIONAL EDUCATION “99% of CIMA members and students work in business and not in accountancy practices.”

4 BPP PROFESSIONAL EDUCATION About CIMA Professional body Chartered Institute of Management Accountants International Over 85,000 students and 65,000 members 156 countries Practical, relevant qualification Study and work experience

5 BPP PROFESSIONAL EDUCATION About CIMA Why choose CIMA? The qualification is not about number-crunching, it provides a fundamental understanding of all aspects of business. If offers a wide range of management skills to guarantee you develop an excellent understanding of facts and figures critical to business success.

6 BPP PROFESSIONAL EDUCATION About CIMA Huge earning potential! A recent international salary survey by an independent researcher showed that the average salary for CIMA qualified finance professionals is £55,645, with potential for your salary to rise to £100k + Source: Based on research undertaken by CIMA and Redshift Research, both are Market Research Society Company Partners.

7 BPP PROFESSIONAL EDUCATION The CIMA Framework Your AAT qualification gives you an EXEMPTION from this level of CIMA CIMA Certificate in Business Accounting CIMA Professional Development CIMA Chartered Management Accounting Qualification

8 BPP PROFESSIONAL EDUCATION CIMA’s Qualifications CIMA Certificate in Business Accounting C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Ethics, Corporate Governance & Business Law

9 BPP PROFESSIONAL EDUCATION The CIMA Framework CIMA Certificate in Business Accounting CIMA Professional Development CIMA Chartered Management Accounting Qualification

10 BPP PROFESSIONAL EDUCATION Syllabus Structure CERTIFICATE LEVEL EnterprisePerformanceFinancial TOPCIMA E3 - Enterprise Strategy P3 - Performance Strategy F3 - Financial Strategy E2 - Enterprise Management P2 – Performance Management F2 – Financial Management E1 – Enterprise Operations P1 – Performance Operations F1 – Financial Operations C01 - FMAC02 - FFAC03 - FBMC04 - FBEC05 - FBLW STRATEGIC Part A – Experience Record Part B – Case Study Exam OPERATIONAL LEVEL MANAGEMENT LEVEL

11 BPP PROFESSIONAL EDUCATION CIMA EXAMS Which order should I take the exams? —Operational and Management level papers can be sat in any order however we recommend the following: —Two papers per sitting (18 months) —E1 with F1 or-E1 with P1 —P1 with F2-F1 with P2 —P2 and E2-F2 and E2 —Three papers per sitting (12 months) —E1, F1 and P1 —E2, F2 and P2 —Strategic level- E3, F3, and P3 MUST be attempted together initially

12 BPP PROFESSIONAL EDUCATION Practical experience At least 3 years’ relevant experience (you are ahead with your AAT experience!) Prior to, during and after studying Record of Skills Development - Personal skills - Interpersonal skills - Organisational skills On 18 Sept 2012 CIMA are running a free evening presentation on this at BPP

13 BPP PROFESSIONAL EDUCATION Costs CIMA students pay: One-time registration fee (from 1 July 2010 this is free for new students!) Annual subscription fee Fees for each exam or exemption If it takes you 3 years to complete CIMA and you pass all exams on your first attempt, it will cost around £1,200 AAT Full membership Discount The AAT offers a reduction of over 50% on your AAT full membership while you are studying CIMA

14 BPP PROFESSIONAL EDUCATION CIMA Contact CIMA Contact Centre 26 Chapter Street London SW1P 4NP United Kingdom T: +44 (0) F: +44 (0) E:

15 BPP PROFESSIONAL EDUCATION Nicola Davis Faculty Manager- Professional Qualifications, Birmingham T: E:

16 BPP PROFESSIONAL EDUCATION AAT – ACA FAST TRACK How to become a Chartered Accountant Lorraine Hayes ICAEW Course co-ordinator

17 BPP PROFESSIONAL EDUCATION Slid e 17 Introduction  ICAEW - Institute of Chartered Accountants in England and Wales  ACA - Associate Chartered Accountant  Degree not necessary!  AAT Level 4 Diploma gives good understanding of accounting principles  Fast track to ACA

18 BPP PROFESSIONAL EDUCATION Elements of the ACA qualification  Training agreement with authorised training employer  Exams – 2 Levels: Professional & Advanced  Technical work experience – 450 days  Structured training in ethics  Initial professional development Slid e 18

19 BPP PROFESSIONAL EDUCATION Exams —Professional stage Knowledge level (CBA)  Accounts  Assurance  Business and Finance  Management Information  Law  Principles of taxation —Advanced Stage: Exam sittings in July and Nov Technical integration papers  Business Reporting  Business Change Case study exam Slid e 19 Application level: Exam sittings in Mar, Jun, Sept and Dec Audit & Assurance Financial Reporting Taxation Business Strategy Financial Management Financial Accounting

20 BPP PROFESSIONAL EDUCATION Credits for Prior Learning (knowledge level) Accounts, Business & Finance, Management Information —Credits for completing level 4 diploma Assurance —Credit for completing External Auditing at level 4 diploma Principles of Tax —Credit for completing BOTH Personal and Business Tax at level 4 diploma Financial Accounting —Can sit a top-up paper if completed level 4 diploma More information go to Slid e 20

21 BPP PROFESSIONAL EDUCATION Next Steps... —ICAEW brochure AAT-ACA fast track —ICAEW website —www.icaew.comwww.icaew.com —Sign up for AAT2ACA newsletter via website Slid e 21


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