All you wanted to know: how to do a CIMA course in India?

CIMA was founded in 1919 by the Chartered Institute of Management Accountants, is one of the largest global entities for Management Accountants, based in the UK. CIMA members are awarded CGMA (Chartered Global Management Accountant) designation by AICPA and CIMA, the two most prestigious organizations of the world, adding global power to your CV and demonstrating your commitment, business acumen and ethics. CIMA has 2,27,000 members and students across 179 countries.



Let’s take a look at the CIMA course details:

CIMA course is organized in 4 levels of achievement, namely certificate level, operational level, management level and finally strategic level. CIMA requires candidates to pass 16 exams. There are 4 certification exams (120 minutes each), 9 objective test exams  (90 minutes long, computer-based, multiple-choice questions) and 3 case study exams (180 minutes long, subjective). Certificate level has all 4 objective type exams and other levels have 4 exams each, 3 objective type exams and 1 case study. Objective type exams are all on-demand basis, case study exams are held 4 times a year. Pass Percentage is 66.67% to clear the exam.

 

Certificate level (4 Papers)

Operational Level  (4 Papers)

Management level (4 Papers)

Strategic Level (4 Papers)

BA1: Fundamentals of Business Economics

 

BA2: Fundamentals of Management Accounting

 

BA3: Fundamentals of Financial Accounting

 

BA4: Fundamentals of Ethics, Corporate Governance and Business Law

E1: Organizational Management

 

P1: Management Accounting

 

F1: Financial Reporting and Taxation

 

Operational Case Study

E2: Project and Relationship Management

 

P2: Advanced Management Accounting

 

F2: Advanced Financial Reporting

 

Management Case Study

E3: Strategic Management

 

P3: Risk Management

 

F3: Financial Strategy

 

Strategic Case Study

 

The duration of the course is 2 to 3 years for 4 levels. Course Fee will be around 2 to 4 lakhs which includes the Exam fees, Registration, Exemptions, Training, Materials. Clearing all will award the world-class CMA CGMA certification. In addition to this candidates are required to complete 3 years of relevant work experience to use the ACMA designation.

  • 12th Grade students have to attempt all 16 papers. The course can be pursued after Class 10 and completed before graduation. Professionals are entitled to a fast track route and can complete the course in a year.

  •  Graduates with commerce background get 4 exemptions

  • MBA and ACCA members get 11 or 14 exemptions

  • CA’s from India get 15 exemptions and have only 1 case study paper.

CIMA doesn’t charge you if you’re eligible for the exemptions.

Scope of CIMA

CIMA qualification is a combination of CA and MBA, management accounting with business knowledge of an MBA and Financial Accounting of a CA. They may not have the signing authority of a CA to certify the financial statements, but they become the brains behind the business. Starting salary is around 4 to 12 lakhs. Consumer-based companies, MNC’s are hiring CIMA certified candidates. CIMA professionals are highly preferred in the banking sector, financial services sector, E-commerce, IT sector as well as managerial roles across industries. Internationally the scope is much more.

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