Post on 05-Apr-2018
transcript
The AAT fast track to CIMAyour route to business success
IN BUSINESS TOGETHER
www.cimaglobal.com/cima123
contents
About CIMA
What now?
What is a management accountant?
Your AAT qualification
What’s different about CIMA?
CIMA’s qualification structure
Case study 6 - Bakkavor
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Case study 1 – Emma Louise West (Fujitsu)
Case study 2 – Andrew Wightman (Avon Cosmetics)
Case study 3 – Tracey Pickering (Emap)
Case study 4 – Lindsay Hyde (DaimlerChrysler)
Case study 5 – Wei Wei Xu (IEMA)
CIMA is the voice of over 158,000 students and members in 161 countries. It is the only international professional qualification with a syllabus and examinations that focus solely on the education and training of management accountants in business.
4 The AAT fast track to CIMA 5
Why choose CIMA?The CIMA qualification isn’t about
number-crunching, it provides a
fundamental understanding of all aspects
of business. It offers a wide range of
management skills to guarantee you
develop an excellent understanding of facts
and figures critical to business success.
In addition, the CIMA qualification will
ensure you have all the essential skills and
detailed knowledge required to assess risk
and support key strategic decisions for
the success of your organisation. You will
also develop the ability to communicate
complex financial information to
non-financial people, all of which will
enable you to work in any area of an
organisation.
CIMA Chartered Management Accountants
are essential to every business and always
will be. They work in all sectors from
service industries to manufacturing,
government to financial services and small
enterprises to multinationals.
Just over one in three CIMA members has a
successful career in different organisational
functions, such as marketing, human
resources, operations and IT, not finance
exclusively. Some of the non-financial
strategic positions held include project
manager, business analyst, CEO and head
of planning and marketing.
The most sought after financial qualification in the worldWherever you choose to be in the world,
the CIMA qualification is your passport to
a successful career. It is internationally
recognised and highly valued by employers
because they know it is the most practical
and relevant qualification for business.
CIMA members have the best preparation
for an international career, because they
are highly skilled and ready to add value
straightaway.
Employers consider CIMA to be the most relevant
financial qualification for international
business today.
‘I did the CIMA qualification and I’d
take people from CIMA anytime.
They’re basically business people,
with a finance orientation,
not just accountants.’
Andrew Higginson,
Finance Director of Tesco plc.
About CIMA
The AAT fast track to CIMA
7 The AAT fast track to CIMA
What is a management accountant? Your AAT qualification
‘Being CIMA qualified helped my
career move from being purely finance
focused to operations focused.’
Rosaleen Butterworth, Director
Butterworth Consultants Ltd
What is a management accountant?CIMA Chartered Management Accountants
are both forward-looking and best qualified
to drive business performance, not just
measure it. CIMA members are versatile
professionals who have been assessed in
a practical business setting and can apply
their skills to many different areas and
roles.
Management accountants concentrate
on future achievements and challenges;
forecasting and helping to shape and
influence strategies that will develop their
organisation’s business potential.
The management accountant’s role is to:
• generate and create value through
effective strategic decision making,
deployment of resources and the
formulation of business strategy to
create wealth and shareholder value
• analyse and interpret
management information and
then use that data to make and guide
essential decisions
• measure organisational performance
and interpret financial and non-
financial reports created
in accordance with international
accounting principles
• apply accounting techniques, budgeting
and forecasting to help determine
costs and budgets and forecast future
performance
• analyse processes and manage costs to
reduce waste
• manage risk and provide business
assurance.
How will I benefit from becoming a CIMA Management Accountant?You will gain:
• an internationally recognised
qualification with an excellent
reputation
• diverse career options with the
flexibility to work in any area of
business
• up-to-date knowledge and essential
practical skills required by employers
• the ability to rise to the most
senior positions within the world’s top
organisations
• a rewarding career with huge earning
potential. View the latest salary surveys
at www.cimaglobal.com/myjobs123
• life-long learning and support from
CIMA through its Continued
Professional Development (CPD)
programme.
Your AAT qualification will help you progressIf you have successfully completed the
AAT Accounting Qualification you will
already have a head start on the road to
Chartered Management Accountant status.
The AAT qualification provides an excellent
grounding and solid understanding of the
fundamentals of finance and accounting,
thus preparing you for bigger and better
career opportunities as a Chartered
Management Accountant.
Each year a large number of AAT students
work towards CIMA membership. They
identify CIMA as the natural next step to
becoming a business professional.
Exemptions
Completing the AAT Technician or Diploma
Pathway qualifications entitles you
to receive exemptions from the CIMA
Certificate in Business Accounting, allowing
you to begin studying at the Managerial
level of the CIMA Professional Qualification.
If you hold the AAT Foundation or
Intermediate level certificate, you are still
able to register with CIMA, but will need to
complete the CIMA Certificate in Business
Accounting. However, we do recommend
you complete the AAT qualification.
For further details about exemptions visit
www.cimaglobal.com/exemptions123
Study
You already have a good idea of what it’s
like to balance work, study and a social life.
The CIMA qualification isn’t easy, it will
require a lot of commitment, dedication
and hard work, but it will be worth it.
Becoming a CIMA member will raise your
professional status, employability and
earning potential, so invest in your career
now while your studies are still fresh in
your mind.
Work experience
To become a CIMA member you must
have completed three years’ relevant
practical experience. The vast majority of
AAT Technicians will have already acquired
relevant work experience whilst working
during their AAT studies, so have a head
start in building the three years required.
For further details on CIMA’s Practical
Experience Requirements visit
www.cimaglobal.com/per123
Employer support
If your employer is a CIMA Training Partner
they will be able to offer you support
throughout your studies and ensure you
have all the practical experience required
to successfully qualify. However, most
employers will offer some level of support
if you ask. If your employer isn’t a CIMA
Training Partner they can find out more
and register at www.cimaglobal.com/
cimatraining123
The support CIMA Training Partners offer
can include:
• study network schemes
• mentoring and coaching systems
• paid study leave
• study costs covered
• study programmes
• internal and external courses
• soft skills and personal and professional
development.
We have over 3,800 employers who are
CIMA Training Partners. For a full list
of companies visit
www.cimaglobal.com/cimatraining123High achievers choose CIMA. As a business
qualification it ensures you won’t be a faceless
number-cruncher.
4 The AAT fast track to CIMA6 The AAT fast track to CIMA
Prior experience can be included
Managerial level
Strategic level
Practical Experience
Requirements
A minimum of three years'
relevant practical experience,
recorded as a Career Profile with
Record of Skills
Development (RSD)
Practical Experience
Requirements
A minimum of three years'
relevant practical experience,
recorded as a Career Profile with
Record of Skills
Development (RSD)Business
Management Pillar
Paper 4 Organisational Management and Information Systems
Paper 1 Management Accounting Performance Evaluation
Paper 7 Financial Accounting and Tax Principles
Paper 8 Financial Analysis
Paper 9 Management Accounting Financial Strategy
Paper 2 Management Accounting Decision Management
Paper 3 Management Accounting Risk and Control Strategy
Paper 5 Integrated Management
Paper 6 Management Accounting Business Strategy
Management Accounting Pillar
Financial Management Pillar
Prior experience can be included
Prior experience can be included
Managerial level
Strategic level
Award: CIMA Advanced Diploma in Management Accounting
TOPCIMA Test of Professional Competence in Management Accounting
ACMAAssociate of the Chartered Institute of Management AccountantsCHARTERED MANAGEMENT ACCOUNTANT
CIMA Professional Development
Pre-requisite entry requirements AAT accelerated entry route
AAT NVQ/SVQ Pathway or AAT Diploma Pathway qualifications
Pre-requisite entry requirements AAT accelerated entry route
AAT NVQ/SVQ Pathway or AAT Diploma Pathway qualifications
9 The AAT fast track to CIMA
The CIMA Professional Qualification structureThe CIMA Professional Qualification is
built on three learning pillars: Management
Accounting, Business Management and
Financial Management. Each pillar contains
three subjects: two at Managerial level and
one at Strategic level.
To qualify as a CIMA Chartered
Management Accountant and secure the
designatory letters ACMA after your name,
you need to complete both the Managerial
and Strategic levels and the CIMA Test of
Professional Competence in Management
Accounting (TOPCIMA). In addition, you
will require a minimum of three years’
relevant practical experience.
The AAT NVQ/SVQ Pathway or AAT
Diploma Pathway qualifications will allow
you to start at the Managerial level.
Other entry routes include, the CIMA
Certificate in Business Accounting, Open
University Certificate in Accounting and
degrees in business or accounting.
To get an overview of the content of each
paper in the syllabus visit
www.cimaglobal.com/syllabus123
CIMA’s business focused training will prepare
you for a diverse career that goes well beyond a speciality in finance and
accounting.
‘When studying CIMA you can take
your time or progress quickly, it is up
to you. It’s good that you can take one
exam at each sitting or even three or
four and finish the qualification
within two years.’
Emma Stevenson
Customer Investment Analyst
Orange
The CIMA qualification structure The CIMA qualification structure
8 The AAT fast track to CIMA
What’s different about CIMA?CIMA members support and contribute
value to a broad range of business
functions. The CIMA qualification is a
unique combination of theoretical, practical
and applied knowledge, all of which defines
the CIMA difference. A major focus on
practical skills development enables CIMA
professionals to apply their knowledge
throughout any organisation right from
the start.
What are the key differences between CIMA and some of the other bodies?
ACCACIMA members have broad business and
management skills and are better qualified
to deal with business decisions and
changes that affect the entire organisation,
while ACCA is more focused on financial
accounting issues.
‘The difference between CIMA and
some of the other qualifications is that
it shows what it is like in real life. CIMA
is about achievement in business rather
than achievement in theory.’
Nick Farrimond
Northgate Information Solutions plc
Among professional accounting bodies,
CIMA has the largest proportion – 98% – of
members working in business.
CIPFA
CIMA trains students for commercial life, in
both public and private sectors, while CIPFA
focuses on the public sector. More than
80% of CIPFA members work in
public practice.
ICAEWCIMA assesses a broader spread of content
reflecting preparation for more diverse
roles in the business environment. ICAEW
is particularly geared towards professional
practice with substantially less coverage
of management accounting and business
management in comparison to CIMA.
These differences are based on findings of
comparative research undertaken by the
University of Bath School of Management.
To view a full up-to-date report which
identifies similarities and differences
between CIMA and eight other professional
accounting bodies visit
www.cimaglobal.com/difference123
11 The AAT fast track to CIMA
CIMA unique
CIMA provides more emphasis
Comparator unique
Comparator provides different emphasis
• Operations• Change management• Marketing• Relationship/project management
• Taxation of corporate and non-corporate entities• External audit• Law (beyond the CIMA certificate)
• Financial accounting/ reporting• Information systems
• Operational management• Marketing• Strategic management• Business economics and law
• Business strategy• Financial strategy• Risk and control strategy
• Accounting issues specific to the public sector• External audit • Taxation (using actual tax rules)
• Audit and assurance • Public finance and policy
• Strategic risk and control• Relationship management• Information systems strategy
• Business strategy• Financial strategy• Applied management accounting techniques• Applied strategic management
• Taxation of corporate and non-corporate entities • Audit and assurance• Law (CIMA certificate covers to a certain extent)
• Financial accounting/ reporting• Assessing professional competence in areas of professional practice
ACCA CIPFA ICAEW
• HR management• Applied management accounting techniques
What’s different about CIMA? What’s different about CIMA?
*Based on findings of comparative research undertaken by the University of Bath School of Management.
Summary of topic comparisons*
10 The AAT fast track to CIMA
Case study
13 The AAT fast track to CIMA
Emma Louise West ACMA
is a Financial Controller
at Fujitsu. She completed
the AAT qualification in
preparation for CIMA.
‘I chose CIMA because it leaves more
doors open and it’s great to have on my
CV as so many employers recognise it.
The CIMA syllabus is far more
commercially focused compared to the
other accounting bodies. It covered all
key accounting concepts and techniques,
and it also offered something extra in
terms of realistic business scenarios,
IT and marketing.
The AAT geared me up for CIMA. I
went onto CIMA with a good basic
understanding of what was required. The
most difficult thing for me was getting
to grips with some of the mathematics
required in the more technical papers. I
was sitting four papers each time, so the
sheer volume of work and lack of social
life for a while was tough – but well
worth it!
The content of the CIMA syllabus is
so relevant to anyone working on the
more commercial side of accounting.
It provided me with a good basis for
entering the real world of business cases
and financial control.
With CIMA’s introduction of CPD,
employers will appreciate that I’m
keeping up-to-date and I strongly believe
the same level of opportunity doesn’t
exist without the CIMA qualification. It
provides a solid basis for an excellent
career providing the individual is not
afraid of some hard work along the way.
I was one of those students who didn’t
find anything easy, but it was all worth it
and I can now reflect back and feel I’ve
made a real achievement that is now
being put to good use in my career.’
12 The AAT fast track to CIMA
LOUISE WESTEMMA
CIMA member,Financial Controller, Fujitsu Services Ltd.
‘‘‘The content of
the CIMA syllabus
is so relevant to
anyone working
on the more
commercial side
of business.’
About Fujitsu Services Ltd.Fujitsu Services is a leading European
information technology services
company. Its business is helping
its customers realise the value of
information technology through the
application of consulting, systems
integration and managed service
contracts. It serves customers in the
private and public sectors across Europe
including retail, financial services,
healthcare and Government.
With an annual turnover of £2.46
billion (€3.59 billion), it employs over
19,000 people across 20 countries.
Headquartered in London, Fujitsu
Services is the European IT services arm
of the US$43.2 billion (€32.5 billion)
Fujitsu Group. Visit uk.fujitsu.com for
more information.
Case study
15 The AAT fast track to CIMA
Andrew Wightman ACMA,
FMAAT is a Senior Manager
at Avon Cosmetics Ltd.
Andrew chose to build
his accountancy career
by studying AAT and then
CIMA instead of going to
university.
‘The CIMA qualification is recognised as
one of the best in industry. It has given
me the skills required to progress my
career and I’ve been able to secure a
number of promotions because of it.
I chose to study CIMA because it offered
the most rounded qualification for
working in industry. It was also the
preferred qualification at Royal Mail,
where I worked at the time.
I left school and started working
immediately. I took GCSE Accounting at
a local college and AAT was the natural
next step. AAT had a good reputation
and colleagues recommended it to
me on the basis it would give me solid
foundations from which to build my
accountancy career.
The AAT taught me the fundamentals
of accountancy and enabled me to go
straight onto CIMA’s Managerial level.
The overlap on certain topics between
AAT and CIMA helped me immensely.
In my current role I’m responsible for
leading finance reviews with senior
operational management, ensuring
the financial impact of decisions is
understood.
I manage, lead and control a team of ten
finance professionals. I’m also responsible
for the Avon Business/Technical CPD
programme and the Avon Finance
Professional Development Scheme.
CIMA continues to expand its numbers
and continues to evolve as an
association. It’s great to be part of its
growth and I get to continue developing
– particularly through CPD. I see
fellowship as my next step and this will
help me move to the next level in
my career.’
About Avon Cosmetics Ltd.As a top global brand and world leader
in lipsticks, fragrances and anti-ageing
skincare, Avon continues to revolutionise
the beauty industry by launching
innovative, first-to-market products using
Avon-patented technology.
Avon’s dedication to supporting women,
touches not only beauty – but health,
fitness, self-empowerment and financial
independence.
14 The AAT fast track to CIMA
WIGHTMANANDREW
CIMA member, Senior Manager, Decision Support
Avon Cosmetics Ltd.
‘‘‘I chose to study
CIMA because
it offered the
most rounded
qualification
for working in
industry.’
Case study
17 The AAT fast track to CIMA
Tracey Pickering is a Business
Analyst at Emap. Tracey’s
colleagues at Emap and
college tutors felt CIMA
was the most appropriate
qualification for the career
path she wanted to follow.
‘Studying for the CIMA qualification
has provided me with a clear goal and
my achievement has been recognised
through promotion and increased
responsibilities.
The AAT Accounting Qualification
provided me with a good solid platform
to grow from. It fully covered all the
basic concepts which were needed to
be fully understood in order to progress
onto CIMA. When I began studying
AAT I wasn’t in an accounting role and
therefore a basic understanding was
essential.
I’m responsible for the finance across six
brands (magazines, websites and events),
which includes the budgeting and
forecasting of those brands, month end
reporting of actuals, variance analysis
and supporting the MD to make solid
financial decisions.
As a passed finalist I now need to apply
for full membership in order to progress.
CIMA’s CPD programme will help support
my career development.
Becoming a CIMA passed finalist involved
a tremendous amount of hard work
and dedication. I feel it has been a great
achievement and would recommend it
to anyone who is not afraid of hard work.
The rewards at the end are worth the effort!’
About EmapEmap plc is a brand-led, multiplatform
media group with a portfolio of over
200 brands that inform, entertain and
connect communities.
The strength of the Group lies in our
ability to create and package content and
in our brands through which we engage
our customers. We enjoy strong positions
in many markets and have outstanding
teams who are driven by their passion
and creativity.
We have 50 lifestyle and specialist
consumer magazines, 42 local and eight
national commercial radio stations, seven
digital TV channels and organise over 400
B2B events internationally.
16 The AAT fast track to CIMA
PICKERINGTRACEY
CIMA passed finalist, Business Analyst,
Emap plc
‘‘‘I’ve gained a
recognised and
highly regarded
qualification.’
Case study
19 The AAT fast track to CIMA
Lindsay Hyde is a project accountant at DaimlerChrysler Financial Services UK Ltd. The CIMA Professional Qualification has enabled Lindsay to progress through three roles with her current employer.
‘I chose to study with CIMA because the
qualification has a good reputation in the
private sector and is required by most
employers. Successfully completing the
AAT Accounting Qualification entitled
me to receive exemptions.
It gave me a very good understanding of
the basics, providing a solid platform to
build on with the more complex issues
covered by CIMA.
The CIMA Professional Qualification
has enabled me to progress with my
current employer through three roles;
assistant accountant, senior assistant
accountant and project accountant. The
most exciting project I have worked on
recently involved the implementation of
a new treasury process.
In the future I hope to expand my career
experience either globally within the
DaimlerChrylser Group or with another
employer. Whatever I choose, I know
that being a CIMA member will give me
an edge and demonstrate my abilities to
potential employers.’
About DaimlerChryslerWe provide DaimlerChrysler dealers and
customers with tailor-made finance and
leasing solutions – including insurance,
credit cards and fleet management
services.
18 The AAT fast track to CIMA
HYDELINDSAY
CIMA passed finalist, Project Accountant,
DaimlerChrysler Ltd.
‘‘‘CIMA is a
well respected
qualification
and has high
recognition among
employers.’
Case studies
21 The AAT fast track to CIMA
Wei Wei Xu ACMA is a
Finance Manager at the
Institute of Environmental
Management and
Assessment. Wei Wei heard
about CIMA when she first
came to the UK 12 years
ago and as a starting point
the AAT qualification was
recommended to her.
‘CIMA is not only a passport in the
accountancy field, but is also a very
practical and general management
qualification.
I chose CIMA because it is more flexible
than other financial qualifications and I
was able to start studying in my current
job. I didn’t want to have to sign a
training contract with an accountancy
firm.
The AAT Accounting Qualification
gave me a very solid foundation in the
accountancy field as I started with
double entry and went onto consolidated
accounts. Some of my classmates
entered CIMA via the graduate route
and received exemptions from certain
papers. They sometimes found it difficult
to tackle the questions associated with
financial reporting, but it was like revision
to me.
I found the system and project
management part of the syllabus
difficult. To overcome this I did some
internet based research and read some
real case studies. I then used project
management techniques covered by
the paper to manage DIY projects and
plan holidays. I was also lucky enough
to have the opportunity to automate
the company’s manual accounting to
a computerised system. This enabled
me to identify requirements, write up
specifications, compare packages on the
market, train staff and implement the
system. All of this gave me the chance to
put theory into practice.’
About the IEMAThe Institute of Environmental
Management and Assessment (IEMA) is
a not-for-profit organisation established
to promote best practice standards in
environmental management, auditing
and assessment.
With over 11,000 individual and
corporate members, the IEMA is now a
leading international membership-based
organisation dedicated to the promotion
of sustainable development, and to the
professional development of individuals
involved in the environmental profession,
whether they be in the public, private or
non-governmental sectors.
20 The AAT fast track to CIMA
XUWEI WEI
CIMA member, Finance Manager, IEMA
‘‘‘I chose CIMA
because it is more
flexible than
other financial
qualifications and
I was able to start
studying in my
current job.’
The CIMA Professional
Qualification involves
learning practical skills
which can be used on a
daily basis in the working
environment.
Employer profile
23 The AAT fast track to CIMA
Since 1991, English
Village Salads (EVS) has
been supplying high
quality produce to the
UK grocery retail market.
Its range includes
tomatoes, cucumbers
and peppers as well as
a wide variety of leafy
salads. All EVS produce
is graded and packed to
the highest standards
at its first class packing
facilities in Selby, North
Yorkshire.EVS is part of Bakkavör Group, the
UK’s leading provider of fresh prepared
foods and produce. We operate over 50
factories and employ over 17,000 people
in eight countries. Group turnover in
2006 was £1.2 billion.
Bakkavör Group is a dynamic and fast-
moving business. Our finance teams play
a key role in ensuring that each business
unit within Bakkavör Group contributes
to the company’s overall success.
It is therefore important that we have
the right calibre of financial expertise
available within the business. Bakkavör
Group recruits trainee accountants at
all levels, from those just starting out on
their AAT qualifications right through to
experienced qualified accountants.
Together with our finance graduates on
the company’s ‘fast track’ management
scheme, our finance people are able
to achieve the much-coveted CIMA
Professional Qualification.
At all levels, our finance trainees are
provided with structured support to
maximise their chances of academic
success. They gain relevant practical
experience in roles, which not only
gives them the opportunity to make a
real difference to the business, but also
complete their qualifications.
No matter what level of experience a
person has, ‘grow your own’ is seen as an
important part of people development
at Bakkavör Group, and finance is no
exception.
For more details please go to the ‘Our
People’ section at www.bakkavor.com
Stephen Murray ACMACIMA member
Management Accountant
‘
‘
22 The AAT fast track to CIMA
BAKKAVORStephen completed the AAT qualification
before studying CIMA.
CIMA Training Partner
25 The AAT fast track to CIMA24 The AAT fast track to CIMA
What now?Choose CIMA
Let CIMA take your career to the top
and beyond. Becoming a CIMA Chartered
Management Accountant will provide you
with a dynamic, successful and rewarding
career in business.
Get support from your employer
Find out if your employer is a CIMA Training
Partner. If not, find out what kind of
support they are prepared to give you.
Studying options
Choose the best study option to suit
your personal circumstances. Attending
tuition classes is the most effective way
of mastering the CIMA syllabus. You can
attend classes part-time, during the evening
or at weekends. There are many advantages
to formal tuition. For a list of accredited
colleges and training providers visit
www.cimaglobal.com/colleges123
Register with CIMAYou can register as a CIMA student now by
completing CIMA’s quick and easy online
registration process at
www.cimaglobal.com/registration123
For details of the AAT/CIMA special
arrangement for exam entry visit
www.cimaglobal.com/aat123
There are two exam sittings per year.
To enter for these you need to register as a
student before the deadlines as follows:
May exams – register by 31 January
November exams – register by 31 July
Keep ahead Would you like to be kept up-to-date
with information about CIMA and be one
of the first to hear about CIMA events?
If so, enter your contact details online at
www.cimaglobal.com/aatcontact123 or
complete the attached form and send in
by post.
AAT Gateway
AAT Gateway is a site dedicated to AAT
students and members who are considering
studying with CIMA. The content is varied
and includes the latest jobs, event dates,
news, case studies and career tips. To view
the site visit
www.cimaglobal.com/aatgateway123
What now?
‘I am self-employed and would not
be where I am today without the
confidence and knowledge that the
CIMA qualification has given me.’
Lorraine Gannon ACMA
Director
Town & Country Taverns
‘CIMA was the best career
decision I have made.’
Christine Marsh ACMA
Management Accountant
Chorpid Limited Don’t stop now. Aim for a successful career in business.
The Chartered Institute of Management Accountants26 Chapter StreetLondon SW1P 4NPUnited Kingdom
T. +44 (0)20 8849 2314F. +44 (0)20 8849 2450E. cimaqualification@cimaglobal.com
www.cimaglobal.com/cima123
RC0240807