A globally recognized certification that attests to one's proficiency in financial management is the CIMA. In the world of finance, it is regarded as one of the most demanding and esteemed degrees accessible. In addition, Professionals from all throughout the world hold the CIMA qualification, and top companies greatly value those who do. The CIMA certificate is unquestionably for you if you want to work in finance or if you are currently employed in the industry and wants to advance in your position.
CIMA Eligibility 2024
CIMA is divided into Certification Level and Professional Levels.
A certification for entry-level business accounting is the CIMA Qualification.
Pursuing Operational Level Studies requires a certain level of skill in accounting or business studies.
One should have one of these to qualify for the Operational Exam:
CIMA Qualification in Business Accounting
Master's in Accounting or MBA
Membership of ICWAI: Any relevant qualification to get an exemption from the CIMA Certificate in Business Accounting
For Management Level studies, CIMA Operational level studies and Operational Case studies should be cleared.
And for Strategic Level studies, operational and management level studies, along with their case studies, should be completed and cleared.
Scope of CIMA 2024
The reach of CIMA is rapidly expanding both in India and beyond. A student who completes CIMA is not only qualified to pursue a career in accounting, finance, or management accounting, but they are also qualified to work in management fields. The CIMA qualification is distinct from other professional qualifications due to its unique proposal.
Additionally, CIMA grants you a certification, an advanced diploma, or membership, which broadens your horizons both in India and internationally, upon completion of each level. Additionally, the CIMA's affiliation with the AICPA in the US has contributed to the expansion of opportunities.
MNC companies and the Big Four consulting firms (PwC, Deloitte, KPMG, and EY) employ CIMAs in India at every level for a variety of positions related to financial reporting, management accounting, Finance and Management.
CIMA Syllabus 2024
CIMA's course is segregated into four levels:
- Certificate Level
- Operational Level
- Management Level
- Strategic Level
1. Certificate Level (Certificate in Accounting):
It is an entry-level course and can be pursued after completing Class X.
Subjects: BA1 – Fundamentals of Business Economics
BA 2 – Fundamentals of Management Accounting
BA 3 – Fundamentals of Financial Accounting
BA 4 – Fundamentals of Ethics, Corporate Governance, and Business Law
Exam pattern: 4 Objective-type Exams
2. The Operational Level (CIMA Diploma in Management Accounting):
It generally covers the role of Junior Accountants and gives you a good understanding and knowledge of how to prepare financial statements, provide management accounting information, and use appropriate tools to make business decisions. This level covers primarily three areas:
E1: Organizational Management
P1: Management Accounting
F1: Financial Reporting and Taxation
Exam pattern: 3 Objective type Exams and 1 Case study Exam
3. Management Level (CIMA Advance Diploma in Management Accounting):
This one covers the role of the Manager who connects the Sr. Management with employees. One will learn how to prepare group accounts, make pricing and product decisions, and manage projects and relationships.
Subjects: BA1 – Fundamentals of Business Economics
E2: Project and Relationship Management
P2: Advanced Management Accounting
F2: Advanced Financial Reporting
Exam pattern: 3 Objective type Exams and 1 Case study Exam
4. Strategic Level:
This advanced level prepares you for the Senior Managerial role. The syllabus concentrates on making strategic decisions and providing the context for implementing those decisions. Candidates learn how to formulate financial strategy, manage strategic relationships, and identify and manage risk.
Subjects: E3 Strategic Management
P3 Risk Management
F3 Financial Strategy
Exam pattern: 3 Objective type Exams and 1 Case study Exam
Job Roles of CIMA 2024
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Accounting
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Management Accounting
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Risk Management
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Financial Management & Treasury
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Financial Reporting
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Budgeting | Forecasting
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Risk Identification & Reporting
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Investment Appraisal
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Fixed Assets Accounting
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Financial Planning & Analysis
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Monitoring Risk
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Cash & Working Capital Management
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Accounts Payable/Receivable, etc.
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Variance Analysis, etc.
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Risk Mitigation, etc.
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Foreign Exchange Management, etc.
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How long does it take to complete CIMA?
10+2/ undergraduate/ Graduate with non-commerce background
Duration: 3.5 years
Exemption: Nil
10+2 pass outs
Duration: 3 years
CIMA exempts you from 5 papers: BA1, BA3, BA4, P1 & OCS
Graduate with Commerce background
Duration: You can complete the complete course in 2 to 2.5 years
Exemption: You get exemption from 4 papers: BA1, BA2, BA3, and BA4
CA Inter cleared
Duration: 2 years
Six papers can be exempted: BA1, BA2, BA3, BA4, P1, and F1
MBA/M.Com Duration: 1 year
After completing the post-graduation from the commerce stream, you can opt for exemption from 11 papers: BA1, BA2, BA3, BA4, P1, F1, E1, OCS, E2, P2, and F2
CA/CMA/Graduate (75%) +3 years work exp./CEO/CFO
Duration: 6 months
Exemption: 15 papers: BA1, BA2, BA3, BA4, P1, F1, E1, MCS, E2, P2, F2, OCS, E3, P3 and F3
How much does CIMA cost:
The CIMA course fees without any paper exemption are between INR 3.5 Lakh to 4 Lakh.
The entire fee is divided into four categories:
Registration fees: It is a one-time fee, including the first year's subscription fee. (CIMA's subscription year starts on January 1st and ends on December 31st)
Subscription fees: An annual subscription fee must be cleared on January 1st.
Exam Fees: For every examination, you need to clear the fees before sitting for the respective exam.
Exemption fees: If any of the papers is exempted, you need to clear the exemption fee per paper, which is generally the exam fee of the corresponding paper.
CIMA EXAM STRUCTURE: To sit in the examination, one should have cleared the Certification program from CIMA or have a relevant master's degree or equivalent accounting qualification.
CIMA's examination paper at every level comprises topics based on Enterprise, Performance, and Financial, covering organization management, management accounting, and financial reporting.
EXAM PATTERN: The objective paper is a 90 minutes multiple choice question paper conducted on Pearson's VUE platform.
Objective Tests: You can complete the Objective Test at each level in any order; however, all papers should be cleared before pursuing the Case Study exam.
Case Study Exam: The Case Study exam is 3 hours long and tests your knowledge and learning skills with a real-time scenario.
Exam pattern in CIMA across all the levels –
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Objective type
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Case study
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Exam at each level
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3
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1
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Duration
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90
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180 mins
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Paper type
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Objective type
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Integrated case study
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Exam Frequency
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Daily based on availability at Pearson Center
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4 times a year (Feb, May, Aug, Nov)
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Result Declaration
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Immediately
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After 1 month of the exam
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