It is a shout-out to all financial career aspirants!
Now is the time to make that career decision that will place you firmly on a financial career growth trajectory.
If you are right on the fence, not knowing which course to choose or how to go about your career path, allow us to help you get the complete scoop on CIMA course – the certification that will open several career opportunities.
With CIMA, you can get placed in top companies worldwide and have the freedom to choose the position of your choice.
Let’s quickly dive into understanding more about CIMA and its benefits.
What is CIMA?
CIMA, or Chartered Institute of Management Accountant, is a globally recognized certification awarded by the world’s largest Management Accounting body. CIMA certification is a highly recognized and sought-after qualification by international companies.
The certification trains candidates in enhancing their strategic planning, risk management, business analytics and reporting skills.
Why Pursue CIMA Certification?
With a CIMA certification, you will be considered an expert in your chosen field, giving you an increased chance of securing a better paying job, immense growth opportunities to hone your leadership qualities, and improving the value of your candidature.
CIMA demonstrates your capabilities as a qualified financial professional capable of making data-backed decisions for your business.
A CIMA comes with an opportunity to interact with a wide global network of more than 250000 members across 180 countries. Moreover, a CIMA under your belt makes you a highly preferred candidate for multinational companies.
With a CIMA, you are in a unique position to understand financial data, the day-to-day workings of a business, and accurately analyze a company’s growth prospects.
Everyone with a keen interest in pursuing a career in finance and accounting is eligible to join CIMA classes.
CIMA is open to undergraduates with both commerce and non-commerce background; however, the only difference would be the course path for each student. In addition, graduates, post-graduates and chartered accountants can also appear for CIMA certification.
- Course Structure
The CIMA course is well-designed to suit the needs of global businesses and dynamic market needs. The certification is divided into four parts – certificate level, operational level, management level and strategic level.
The course covers:
- Budgeting and planning
- Cost management
- Analytics and technology
- Corporate finance
- Risk management
- Investment management
- Industries Hiring CIMA USA Professionals
CIMAs are preferred in various industries in the USA for top decision-making positions. Some of the places where Certified Management Accountants are preferred are:
- Construction industry
- Manufacturing industry
- Medical and health services
- Insurance industry
- Communication services
- Transportation industry
How Does CIMA Prepare for Top Management Roles?
CIMA certification makes you adept at several financial concepts and gives you the necessary edge to land senior-management level positions in top multinational companies. With CIMA, you are trained to analyze the numbers and make data-driven decisions that can positively impact business decisions.
Some of the concepts covered in CIMA are:
Financial Reporting and Taxation
The financial reporting and taxation module covers all the basic and advanced levels of taxation. In addition, it covers financial statement analysis, cash flow concepts and other accounting frameworks. You’ll also understand tax returns, investment gains, and losses.
With management accounting, you’ll understand costing, valuation, inventory turnover analysis, budgeting, and forecasting.
Risk management is a critical concept of CIMA as it guides all the business and finance decisions taken by an organization. It helps mitigate investment risk and manage and control performance.
Strategic management helps you analyze the competitive market, evaluate internal business policies, and develop a strategy that can make a difference to the bottom line.
After analyzing the risk, budget, capital structure, equity and debt analysis to make sure the business has solid long-term solvency.
Benefits of CIMA Certification in the USA
CIMA is often considered the gold standard in accounting and business management. This is because it gives you a unique perception of the running of a business by blending both financial aspects and general business acumen.
- Global certification
The international acclaim of CIMA allows you to get a high-paying job in almost any country and the top companies.
The syllabus encompasses both theoretical and practical aspects of financial planning and management. In addition, CIMA demands a global professional appeal, with many business leaders preferring this certification to other qualifications.
CIMA certification allows you to upskill yourself in highly-preferred specialized subjects. This course gives you a deeper and more in-depth understanding of the workings of finance and accounting in a company. CIMA adds to your current qualification and experience, making you a highly qualified professional.
- Better Career Prospects
The career prospects open for CIMA professionals are quite high. As a CIMA certificate holder, you are certified to possess top skills, qualifications, talent and subject knowledge. The CIMA certification makes you eligible for entry-level and senior management level jobs. Moreover, you are also preferred in various industries for top-level positions.
Accountants and auditors are highly preferred job profiles in the US. On average, employment for accountants is predicted to increase 7% from 2020 to 2030. Moreover, certification in specialized courses is highly desired by businesses.
- Immense Career Growth
The career growth for a CIMA certificate holder is immense. You can get placed in a high-paying position to scale your career graph quite easily. In addition, you will have the professional power to negotiate higher-level positions in leading organizations.
With experience, you will also have the freedom to make career moves since there’ll be many CIMA job opportunities waiting for you.
Top 5 Career Options for CIMA Professionals in the USA
The major advantage of doing a certified management accountant professional certification is taking up various financial titles and performing the duties with competence and skill.
Some of the top career options open for CIMA professionals in the USA are:
- Financial Analyst
If you are someone with a penchant for crunching numbers and microeconomics, you could be cut out for a financial analyst career. CIMA prepares you for a higher-management role as an analyst.
As a financial analyst with a CIMA, you’ll be required to advise the business on the right investment decisions, profitability, solvency, liquidity and more based on the numbers, reports and current financial status.
With a CIMA, you’ll have the freedom to select a position in various sectors such as insurance, banking, businesses and other global enterprises.
- Financial Risk Manager
As a financial risk manager, you’ll be required to predict and analyze the risks associated with investments, market trends and potential risks.
With a CIMA under your belt, you will be equipped to work with stakeholders, including compliance managers, risk assessment analysts, credit officers, and client managers. In addition, you will be required to assess the risks associated with investments and strategies and manage clients’ interests.
- Financial Corporate Controller
A financial controller is a critical role in an organization as they are responsible for maintaining the accuracy and credibility of the business accounting operations.
As a corporate financial controller, you will be responsible for efficiently managing the finances, report analysis, and taking up cash management, profitability, and budget within accounting standards.
You can get placed in top global companies and top positions with a CIMA. Most top-level enterprises prefer certified management accountants as they can be certain of high-quality standards in their financial statements. Since you will be required to oversee the work of other accounting professionals as a controller, your skills and knowledge of accounting standards will be tested.
A CIMA certification becomes an invaluable asset to you as it gives you the needed subject expertise and business acumen to deal with the financial functions.
- Cost Accountant
Cost accountants play a significant role in an organization as they scrutinize every element of the cost incurred by a business. You will be required to manage and prepare the liability, asset and capital entries, document all transactions, and prepare number-backed recommendations.
Cost accountants are highly sought-after profiles in every industry, and when you have the needed qualification and certifications, you’ll have more chances of landing your dream job.
- Chief Financial Officer
Chief Financial Officer is one of the top positions in any organization and is often considered the highest-level position right after the CEO.
Since the CFO will be responsible for the overall financial operations of a business, a certified management accountant is usually preferred for this position. As a CFO, you’ll be required to manage the cash flow of the entire enterprise, assess your strengths and weaknesses, and take corrective action as needed.
A CIMA certification makes you eligible for even the highest position in an organization as it finetunes your finance capabilities and improves your skill and knowledge on core finance subjects.
Ready to enter the financial world on a high?
You can bag your dream job in top multinational enterprises and enjoy an attractive pay package and perks with a CIMA certification. However, once you have selected the certification, the next major thing to decide is the institute from which you will gain practical and theoretical knowledge.
Look no further than India’s market leader – IMS ProSchool. This institute gives you the freedom to study at your preferred pace, interact with industry experts and get all the help you need to ace the certification.
Get in touch with the experts from IMS ProSchool and take the first step towards a glorious career.