CIMA® by American Council of Professional Accountants is designed for accounting and finance professionals seeking to significantly improve their job and career prospects by super-specializing in the dual advanced areas of investment accounting and management accounting in the international context.
CIMA® credential brings you to the power of dual specialization in investment accounting and management accounting. While the management accounting specialization equips you for directly impacting growth, profits and competitiveness of organizations; the investment accounting specialization puts you in a rarefied league of professionals – with expertise in monitoring, tracking, analysing and accounting the performance of investments made by organizations in a complex mesh of multiple national markets, regulatory environments and tax regimes.
It prepares you for careers in large corporations, global finance consulting firms, leading finance KPOs and well-known asset management firms, brokerage firms and investment banks among others.
It not only focuses on accounting in the domestic business environment but it is an elite international qualification that prepares you for global jobs that have much better profiles and promise than other certification programs.
CIMA® charter-holders are trusted worldwide for their promise and potential for teaming up with top management in driving up enterprise value and accelerating growth through the most high-demand and advanced areas of Investment & management accounting in global organizations.
CIMA® program Knowledge Specification defines the standard and content covered in the examinations, and ensure consistency of quality and coverage across thousands of exams that are delivered to candidates from around the world. Focusing equally on knowledge, understanding application, and synthesis in 20 knowledge areas, CIMA® has three knowledge Specification levels - BASIC, INTERMEDIATE & ADVANCED for each knowledge area combine six knowledge dimensions to define the nature and degree of competence CIMA® candidates must ideally possess to be able to successfully pass the CIMA® exams and demonstrate their readiness to perform efficiently and effectively at the highest levels in the most complex of roles as investment & management accountants.
The three levels of coverage can be defined as follows:
| Level 1 | Investment & Management Accounting - Foundational Principles & Concept Frameworks | Weight | Knowledge Specs |
|---|---|---|---|
| CS-11 | Accounting for Investment & Managerial Decision-Making | 8% | Basic |
| CS-12 | Business, Strategy & International Competitiveness | 8% | Intermediate |
| CS-13 | Analyzing Financial Statements for Business Decisions | 12% | Advanced |
| CS-14 | Managing & Accounting Risks in Business | 12% | Advanced |
| CS-15 | Cost Structuring, Product Costing & Activity Based Costing | 10% | Advanced |
| CS-16 | Investment Accounting Framework & Concepts | 10% | Advanced |
| CS-17 | Financial Markets, Instruments & Derivatives | 10% | Advanced |
| CS-18 | Techniques of Managing Investment Portfolios | 10% | Advanced |
| CS-19 | Capital Investments and Capital Budgeting | 10% | Advanced |
| CS-20 | Management Accounting & Enterprise Performance Analysis | 10% | Intermediate |
| Level 2 | Investment & Management Accounting - Application Principles & Practice Frameworks | Weight | Knowledge Specs |
|---|---|---|---|
| CS-21 | Techniques of Pricing Financial Assets | 10% | Advanced |
| CS-22 | Techniques & Practices of Valuing Businesses | 12% | Advanced |
| CS-23 | Practices in International Financial Reporting | 10% | Advanced |
| CS-24 | Techniques of Currency Risk Management | 10% | Advanced |
| CS-25 | Accounting Tax In Global Investments and Business | 7% | Intermediate |
| CS-26 | Accounting Transfer Pricing In Global Business | 10% | Intermediate |
| CS-27 | Investment Accounting Techniques & Practices | 15% | Advanced |
| CS-28 | Investment Audit Techniques & Practices | 10% | Advanced |
| CS-29 | Corporate Governance & Ethics in Global Organizations | 8% | Basic |
| CS-30 | Technology & Analytics in Accounting | 8% | Intermediate |
| Quick Facts | Standard Track | Professional Pathway |
|---|---|---|
| Registration | Anytime during the year | Anytime during the year |
| Candidacy | Bachelor's degree, preferably in accounting/ finance or related areas. Final year students of Bachelor’s degree program can also apply | Professional qualification/ certification in accounting/ finance or related areas; MBA/ Master’s degree in finance or accounting |
| Validity of Qualification | Life-time; with the need to keep the qualification in good standing through attending the CIMA® review webinar 3rd year onward. | Life-time; with the need to keep the qualification in good standing through attending the CIMA® review webinar 3rd year onward. |
| CIMA® Exams |
2 Online Exams: Can be taken in exam windows open in March, June, September and December every year Level 1 Exam: 4 hours and 150 multi-choice, single-answer questions. Level 2 Exam*: 4 hours and 150 multi-choice, single-answer questions *Candidates have to pass the Level 1 exams before they can register for the Level 2 |
1 Online Exam: Can be taken in exam windows open in March, June, September and December every year One, Unified Exam of 4 hours carrying 150 multi-choice, single-answer questions |
| Total Number of Modules to be Studied for Exams | 20 modules (10 in Level 1 + 10 in Level 2) | 13 modules (6 in Level 1 + 7 in Level 2) |
| Maximum Completion Period | Within 3 years, but usually completed in 12-18 months; self-planned study | Within 2 years, but usually completed in 6-9 months; self-planned study |