Thinking of doing CIMA after CA? Then this article is just for you. Let’s explore all the top reasons that help you take up CIMA course post completion of your Chartered Accountancy degree.
With a Chartered Accountancy, you have achieved one of the most coveted qualifications in India. But you are ambitious and looking for additional qualifications? The first things that come to your mind are CS, CWA, or LLB, isn’t it? Wait, why not go global?
There are a large number of multinationals coming up in India and there is a growing demand for global accounting professionals.
As a result, even after your CA completion, the next step to a rewarding career is to embellish yourself with a qualification that is globally renowned and holistic. CIMA after CA is one such qualification that goes beyond accounting and teaches you the nuances of strategic management.
Whether you want to work in an MNC in India or go abroad in search of more lucrative career options, CIMA is a qualification that takes you places. If you who complete CIMA Qualification, you will also be eligible for other global qualifications such as CPA – Australia and CGMA by AICPA.
Here are the top reasons why you must choose to pursue CIMA after CA:
- Helps in diversifying your profile:
In comparison with pursuing CA or LLB along with CA, you need to diversify your profile. The curriculum of CIMA will help you to provide a global knowledge of the finance domain. This knowledge equips you with management level skills, decision-making knowledge or team management qualities. This perfectly complements the knowledge acquired through the CA curriculum.
- CIMA after CA is a cakewalk
Because of its extensive curriculum, steep learning curve, complex examination pattern and stringent passing percentage, the Chartered Accountancy is considered as a challenging option. On the other hand, CIMA offers you lot of flexibility and comfortable exam pattern which results in a passing percentage of 40% to 50%.
There is also a considerable overlaps in the curriculum of both the qualifications. Therefore pursuing CIMA after CA is almost going to be a cakewalk for you.
- Trains you to develop new tools and techniques
Learn new tools and techniques: CIMA conditions your thinking process in such a way that it helps you to develop innovative tools and techniques. You can introduce new ways and approaches to solve a particular problem and create new milestones in your career.
- Develops strategic thinking pattern
In CIMA you can learn practical approaches to contemporary decision making and controllership. There are modules on management accounting – risk and control strategy, decision management and business strategy, which will help you to develop strategies for validating risk mitigating strategies, governance process and developing high-level company strategies.
- Prepares you for bigger roles in the world of finance
CA is one of the most desired qualifications in India, but times are changing and so is the outlook of the recruiters. CA is more suited to roles in accounts, audit or law. If you want to become a well-rounded finance professional, you need to think beyond technical skills and focus on a broader business perspective. CIMA is a blend of technical expertise and strategic thinking and prepares you for a top-notch career in finance.
- Can be pursued alongside current job
While CA takes more than 5 years to complete, CIMA can be completed in a span of 2-3 years that too along with your current job. Even as you secure a rewarding job after your CA, you can still pursue CIMA and strengthen your prospects for a bigger role in the future.
- You are entitled to a lot of exemptions
After CA, you can get exemptions in 12 out of 17 exams of the CIMA certifications. Which means you only as a member or passed finalist of the Institute of Chartered Accountants of India (ICAI), you are eligible for advanced entry through the professional gateway route
Brace yourself for a more challenges and rewards in your financial career
While pursuing CA, most of you only focus on the technical side of the problem and completely ignore the strategic part or the essence of the problem. This is an aspect missing in CA or any other Indian qualification such as the ICWAI or LLB.
CIMA trains you to view a problem from all perspectives, which is a prerequisite if you want to rise from current profiles in accountancy and graduate to higher levels in the senior management levels.