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Submission: On December 08 via manual from PH — Scanned from DE
Effective URL: https://myfuture.cimaglobal.com/starting-a-career-in-management-accounting/
Submission: On December 08 via manual from PH — Scanned from DE
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Close Close 0% completed Germany Close SELECT YOUR COUNTRY OR REGION EUROPE Andorra Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Gibraltar Greece Hungary Iceland Ireland Italy Latvia Liechtenstein Lithuania Luxembourg Malta Monaco Netherlands Norway Poland Portugal Romania Russia Slovak Republic Slovenia Spain Sweden Switzerland United Kingdom AFRICA & THE MIDDLE EAST Africa Egypt Mauritius Middle East Seychelles South Africa ASIA PACIFIC American Samoa Asia Pacific Australasia Australia Bangladesh China Guam Hong Kong SAR India Indonesia Japan Malaysia Myanmar New Zealand North Asia Pakistan Singapore South Korea Sri Lanka Vietnam THE AMERICAS Americas British Virgin Islands Canada Cayman Islands Puerto Rico South America USA Virgin Islands (U.S.) Menu Start your career in management accounting The CGMA Certificate in Business Accounting The CIMA Professional Qualification Research and insights Request more information Get more insight on how CIMA’s professional qualifications will help you build a successful career in business or finance. Request more information CGMA Finance Leadership Programme (FLP) Register now for the digital-first pathway to completing CIMA’s CGMA Professional Qualification. Earn CGMA designation with guided learning. Register now on CGMA.org Certificate in Business Accounting & Professional Qualification Register now to study the CGMA Certificate in Business Accounting, or the Self Directed Learning and Assessment Route to the CGMA Professional Qualification and designation. Register now on CIMAglobal.com Page navigation Start your career in management accounting. START YOUR CAREER IN MANAGEMENT ACCOUNTING. Welcome to the world of management accounting, a profession where the opportunities are as open-ended as you want them to be. On this page On this pageWhat does a management accountant do?What sets a management accountant apart from a traditional accountant?The value management accountants bring to business Where can a career in accounting take me?How CIMA® helped my career - Anthony Murphy, CFO at Tandem BankHow do I become a management accountant?Who can qualify with CIMA?Why qualify as a CGMA with CIMA?Which learning and assessment route should I take?Am I eligible for exemptions? Start your registration WHAT DOES A MANAGEMENT ACCOUNTANT DO? Officially, management accountants help businesses worldwide manage their finances. But, in reality, there’s so much more to it. They are business leaders, innovators, decision-makers and forecasters. They don’t work in just one industry or role. You’ll find management accountants in all kinds of companies, public and private, big and small. Day to day, they interpret financial data, prepare reports and use business knowledge to help management make decisions. They’re always looking to the future and figuring out ways to improve things for the company. In short — they’re pretty important. WHAT SETS A MANAGEMENT ACCOUNTANT APART FROM A TRADITIONAL ACCOUNTANT? MANAGEMENT ACCOUNTANTS * Analyse data, forecasts and budgets to help leaders make decisions. * Create reports to be used internally. * Compile information looking at the future, not the past. * Are responsive — whatever information the business needs, they’ll provide it. * Measure operational, as well as financial, performance. * Can focus on specific parts of the business. * Look at qualitative and quantitative data. TRADITIONAL ACCOUNTANTS * Analyse past financial performance, usually for regulatory reporting. * Create reports to satisfy external regulations. * Are regulated — reports are in line with prescribed requirements. * Measure financial data only. * Focus on the entire organisation. * Compile data as set points of the year, according to legislation. * Look at quantitative data only. THE VALUE MANAGEMENT ACCOUNTANTS BRING TO BUSINESS Management accountants have a multifaceted role to play, whichever sector or company they work for. Here are a few of the things they bring to the table. THEY ARE BUSINESS LEADERS As a management accountant, you’ll understand how your organisation works. You’ll know its business model, strategic context and competitive position inside out. That, combined with your first-class leadership skills, means you play a vital role in any business. THEY ARE INNOVATION ADVISORS For a business to thrive, it needs to adapt to keep pace as the world changes constantly. As a management accountant, you’ll grab every opportunity for innovation and help drive future success. THEY ARE DECISION-MAKERS By combining financial and non-financial data, you’ll paint a complete picture of the business. You’ll use that in-depth analysis to make decisions and pursue business success at the highest level. THEY ARE FORECASTERS Management accountants focus on the future. You’ll gather information and analyse statistics to spot trends and help make strategic decisions – from improving internal efficiencies to tackling market expansion. Where can a career in accounting take me? WHERE CAN A CAREER IN ACCOUNTING TAKE ME? CHIEF FINANCIAL OFFICER The chief financial officer is part of the executive management team who develops the financial well-being of the organisation. They are accountable for financial planning, operations, and risk management, requiring a detailed, wider range of knowledge. FINANCE MANAGER In large organisations, the finance manager role may be concerned with strategic analysis, while in smaller companies, a finance manager may be responsible for the collection and preparation of accounts. A finance manager is typically a fully qualified chartered accountant. MANAGEMENT CONSULTANT Management consultants advise organisations on how they might implement strategic decisions or improve performance. They need to be aware of every aspect of an organisation and have strong commercial acumen, project management skills and analytical prowess. MANAGEMENT ACCOUNTANT Management accountants understand business and finance, using this knowledge to interpret financial data and make informed strategic decisions. They often work closely with senior stakeholders to help drive growth, with typical activities including budgeting and forecasting, profit and loss reporting and balance sheet analysis. Once you’ve got CIMA’s® CGMA® Professional Qualification, you’ll be a Chartered Global Management Accountant, able to use the CGMA designation after your name. FINANCE BUSINESS PARTNER Finance business partners are commercially aware with strong communication and leadership skills. They work alongside different departments, using analysis and insights to support and advise all strategic and operational decision-making. To excel as a finance business partner, you need core finance skills and the ability to clearly and concisely articulate financial information. This role makes it possible to progress to more senior positions such as finance manager, finance director or financial controller. FINANCIAL ACCOUNTANT Every organisation needs someone to report on its financial position. That’s where a financial accountant comes in. They provide accurate information to budget holders and external parties to fulfil regulatory requirements. The next step on the career ladder for a financial accountant is to become a finance manager. BUSINESS ANALYST If you’ve got top analytical skills, you could make a good business analyst. They use their skills to build financial models that support commercial decision-making by the senior team. As well as financial modelling, business analysts will take on risk management, so they’re often fully qualified accountants. ACCOUNTS ASSISTANT Being an accounts assistant will expose you to a wide range of accountancy duties including preparing financial statements and accounts, processing expense claims and invoices, managing ledgers and preparing VAT returns. This role is a great springboard into becoming a financial accountant or management accountant, as you have a solid foundation in finance. HOW CIMA® HELPED MY CAREER - ANTHONY MURPHY, CFO AT TANDEM BANK HOW DO I BECOME A MANAGEMENT ACCOUNTANT? To practice as a management accountant, you’ll need a relevant professional qualification. There are several qualification providers, but CIMA is the global leader in management accountancy training. Our qualifications are current, innovative and lead to Chartered Global Management Accountant (CGMA) status, the only globally recognised designation for management accountants. Anyone can study with CIMA to become a CGMA. How you get started depends on your existing qualifications. Use the tabs below to find the starting point that’s right for you I have little or no experience or qualifications If you don’t have much work experience or any related qualifications, but know that you want to develop a career in business, the CIMA Certificate in Business Accounting (Cert BA) is a great place to start. The Cert BA helps students with little or no accounting experience unleash their business potential. Teaching core skills beyond simple accounting, the syllabus is the perfect stepping stone towards a career in business and finance. A qualification in its own right, the Cert BA is also an entry route into the CIMA Professional Qualification. Once you complete both qualifications, you’ll be awarded the Chartered Global Management Accountant (CGMA) designation. More about the Cert BA I have some experience or qualifications If you have a combination of work experience and a relevant degree in business and finance, you could jump straight into studying the CGMA Professional Qualification to become a Chartered Global Management Accountant (CGMA). Recognised all over the world, the CGMA Professional Qualification focuses on employability, offering a syllabus that is truly competency-based. You’ll develop the technical and leadership skills employers are looking for, showing them that you not only have the knowledge, competencies and skills of a CGMA. More about the CIMA Professional Qualification If you don’t have much work experience or any related qualifications, but know that you want to develop a career in business, the CIMA Certificate in Business Accounting (Cert BA) is a great place to start. The Cert BA helps students with little or no accounting experience unleash their business potential. Teaching core skills beyond simple accounting, the syllabus is the perfect stepping stone towards a career in business and finance. A qualification in its own right, the Cert BA is also an entry route into the CIMA Professional Qualification. Once you complete both qualifications, you’ll be awarded the Chartered Global Management Accountant (CGMA) designation. More about the Cert BA WHO CAN QUALIFY WITH CIMA? CIMA is open to everyone, no matter what qualifications or professional experience you have. Here are the different ways you could start your CIMA journey. School leavers STARTING AS A SCHOOL LEAVER Get a world-renowned finance qualification and become a Chartered Global Management Accountant – no degree necessary. Here’s how to study with CIMA straight from school or college. HOW DOES STUDYING WITH CIMA AS A SCHOOL LEAVER WORK? You can start your journey to becoming a management accountant as soon as you leave school with either the CGMA Certificate in Business Accounting or a CIMA Apprenticeship (if you live in England), no matter your exam results. The Certificate in Business Accounting is a formal qualification in its own right. You’ll learn vital business and accounting skills, and it’s open to anyone, as well as a formal entry route into the CGMA Professional Qualification. And once you’ve completed that, you’ll be able to call yourself a Chartered Global Management Accountant. All without masses of student debt. Undergraduates/Graduates STARTING AS AN UNDERGRADUATE OR GRADUATE Whether you’re still at university or launching your business career, the CGMA Professional Qualification can give your degree the edge. HOW DOES STUDYING WITH CIMA AS AN UNDERGRADUATE WORK? You can begin your journey to CGMA status and get a head start on your career, all while you’re still at university. Look for a CIMA-incorporated degree programme to start studying the CGMA Professional Qualification as part of your degree. This fantastic opportunity gives your career a leg-up, and you’ll graduate with dual honours. Alternatively, you could do a course that’s part of the CIMA registered student programme. You’ll be signed up as a CGMA candidate as part of your degree and get help finding a job where you’ll be supported towards CIMA membership. HOW DOES STUDYING WITH CIMA AS A GRADUATE WORK? Already graduated? You can study with CIMA whatever your degree is in. But if you’ve already completed a relevant degree, such as accounting or business, you could be entitled to exemptions from some of CIMA’s CGMA Exams — allowing you to qualify sooner than you think. Postgraduates STARTING AS A POSTGRADUATE Hold an MBA or Master’s in Accounting? You could fast-track your way to CGMA status with the Master’s Gateway. HOW DOES STUDYING WITH CIMA AS A POSTGRADUATE WORK? If you have a relevant master’s degree in accounting, finance or an MBA (Accounting Major), you may be eligible for accelerated entry routes, allowing you to start higher up within the CGMA Professional Qualification at the Management Level. If you hold an MBA (Accounting Major) or Master’s in Accounting you could be eligible for the CIMA Master’s Gateway bundle. Entry to the Master’s Gateway is £425. This covers your CIMA registration fee, first year’s subscription, one attempt at the exam (valid for two years), the Digital Mindset Pack and exclusive access to a highly discounted CIMA Study Masters Gateway learning bundle. Once you pass the Management Case Study exam, you can move on to the Strategic level — the last level of the CGMA Professional Qualification on the path to earning the CGMA designation. Members of an IFAC Body STARTING AS A MEMBER OF AN IFAC BODY Members of IFAC professional bodies can join the Professional Gateway, an accelerated entry route to the CGMA Professional Qualification. HOW DOES STUDYING WITH CIMA AS A MEMBER OF AN IFAC BODY WORK? If you’re a member or passed finalist of an examining professional body that is part of the International Federation of Professional Accountants (IFAC), you will be eligible for exemptions allowing you to progress faster through the CGMA Professional Qualification. Depending on your professional qualification, you may also be eligible for the Professional Gateway. To see whether you’re eligible for this fast-track route, use our exemptions calculator to check if your existing qualification lets you bypass exams at the Operational and Management levels of the Professional Qualification. Entry to the Professional Gateway is £425. This covers your CIMA registration fee, first year’s subscription and one attempt at the exam (valid for two years). Once you pass the Management Case Study exam, you can move on to the Strategic level — the last level of the CGMA Professional Qualification on the path to earning the CGMA designation. AAT Members STARTING AS AN AAT MEMBER Delve deeper into the topics you’ve covered during AAT and work towards becoming a Chartered Global Management Accountant (CGMA) with fast-track entry into the CGMA Professional Qualification. HOW DOES STUDYING WITH CIMA AS AN AAT MEMBER WORK? Think CGMA are the four letters you’d like after your name? Your AAT qualification can get you there faster. If you’ve completed the AAT Professional Diploma in Accounting — good news. You can skip the Certificate in Business Accounting and jump straight into studying the CIMA Professional Qualification. If you hold the AAT Level 2 Certificate or Level 3 Diploma, you can start with the Certificate in Business Accounting. It’s an entry route to the CGMA Professional Qualification. We’ve removed exam exemption fees, so you’ll pay nothing to have your learning with AAT recognised. We’ll even fast-track your exemptions application. And with over 50% off your AAT subscription while you’re studying with CIMA, you’ll be able to enjoy the best of both memberships. STARTING AS A SCHOOL LEAVER Get a world-renowned finance qualification and become a Chartered Global Management Accountant – no degree necessary. Here’s how to study with CIMA straight from school or college. HOW DOES STUDYING WITH CIMA AS A SCHOOL LEAVER WORK? You can start your journey to becoming a management accountant as soon as you leave school with either the CGMA Certificate in Business Accounting or a CIMA Apprenticeship (if you live in England), no matter your exam results. The Certificate in Business Accounting is a formal qualification in its own right. You’ll learn vital business and accounting skills, and it’s open to anyone, as well as a formal entry route into the CGMA Professional Qualification. And once you’ve completed that, you’ll be able to call yourself a Chartered Global Management Accountant. All without masses of student debt. Why qualify as a CGMA with CIMA? WHY QUALIFY AS A CGMA WITH CIMA? EXCLUSIVE ACCESS TO JOBS Thousands of finance, business and management jobs are added to our Global Career Hub daily. UNLOCK THE GLOBAL JOB MARKET The CGMA designation is recognised worldwide, in every industry. Thousands of companies train their people with CIMA, from multinationals to start-ups, in private and public sectors. BOOST YOUR EARNING POTENTIAL CGMA candidate average salary £32,000 GBP CGMA designation holder £66,000 GBP SAY HELLO TO 657,000 NEW COLLEAGUES Our partnership with the American Institute of CPAs® (AICPA®) means we have hundreds of thousands of members worldwide, all forming one active community. They’ll give you guidance, support and advice throughout your career. EXCLUSIVE ACCESS TO JOBS Thousands of finance, business and management jobs are added to our Global Career Hub daily. UNLOCK THE GLOBAL JOB MARKET The CGMA designation is recognised worldwide, in every industry. Thousands of companies train their people with CIMA, from multinationals to start-ups, in private and public sectors. WHICH LEARNING AND ASSESSMENT ROUTE SHOULD I TAKE? Shape your studies how you want, using a tuition provider or opting to self-study, or enrol on the Finance Leadership Program for a fully guided study experience. Find the right learning route for you AM I ELIGIBLE FOR EXEMPTIONS? If you have a degree or a qualification, you might be exempt from certain Certificate in Business Accounting or CGMA Professional Qualification exams. That means you could qualify sooner than you think. Check your exemptions START YOUR REGISTRATION To get you signed up as a CIMA student, we’ll ask you for: * Your contact details, including address, email and phone * Your current employment details (if you’re working) * Details of your tuition provider (if you’re studying) REGISTER WITH CIMA FOR: * Certificate in Business Accounting * Professional Qualification Register now on CIMAglobal.com Germany +44 (0)20 3510 6865 futurestudents@cimaglobal.com +44 (0)7930 537721 Terms & Conditions Privacy Policy Accessibility Modern Slavery Statement © 2022 Association of International Certified Professional Accountants Find out more Register as a student Chat to an advisor Take your next step with CIMA Click4Assistance UK Live Chat Software