Saw this behind a PM’s name. What is this designation all about? Haven’t even seen it discussed here.
CIMA - The Chartered Institute of Management Accountants (UK) - is a leading membership body that offers an internationally recognized professional qualification in management accounting, which focuses on accounting for business.
Do you know anything more about it? I looked at the website. Is it worthwhile? How does it mearsure up to the CFA Designation? Just strange to see CIMA after their name when I have never heard of it or even seen it discussed before.
Is it worthwhile? Yes, it is one of the best qualifications for management accountants who work or want to work in manufacturing concerns. But it has very little usefulness in Financial Services Sector. If you have any other professional accountancy qualification you may get exemptions from various CIMA papers. On the basis of my chartered accountancy qualification I need to write only 5 out of total 16 papers to qualify as CIMA. If you are an MBA, you may get credits on first 4 to 5 papers. How does it measure up to the CFA Designation? Unless you want to be cert. collector like me, CIMA would be a total waste of time, money and attention. ( My opinion, you or others may disagree) CFA and CIMA are two entirely different fields of studies. But it commands great respect in professional circles in the part of the world I belong to.
lol I remember that hanifasif if studying ACCA (same vein but different target than CIMA) I’m part qualified from CIMA, the chartered institute of management accoutants (UK), I’ll try to help: The CIMA u’ve seen after this PM’s name was not related to the management accounting qualification. The magic letters u get for studying CIMA is ACMA (or FCMA if u r good and after many years). So u’ve seen something else. The content and exams are way different than CFA even though I used some overlaps for my Level1 study. CFA has it’s very own way to challenge ur understanding For the financial service industry, I only got middle office offers and cannot lend anything else so far. I’d say that most the CIMA students that try hard enough (and are good enough) would get a ceilling @ back office job. well I guess middle office is not that bad with the current market conditions … anyway I now that I started CIMA, I’ll finish; but given that u’ll be L2 soon, u won’t bother with CIMA skills as u’ll be doing completely different things
Recently I attended a seminar which talked about differences in CFA/CIMA… CFA - mainly for financial services, focused on asset management and IB CIMA - accounting qualification for management accountants, which covers accounting and business strategy courses…good if you want to work in a manufacturing firm So at the end it depends what you want to do and in which direction you are going… Hope it helps! PS - hanifasif may i know how is CFA viewed in the part of the world you are in (pak/saudia)? In the financial services company in Saudia, i am sensing lots of hype about it…have you sensed it too? (dont know which sort of firm you are in)…
Kevin…the CIMA you are referring to is the Certified Investment Management Analyst. It has nothing to do with accounting like the other posters claimed. I’ve seen a number of mutual fund wholesalers with it (guys that started the CFA and deemed it too difficult.) I think it’s used to show manager selection and asset allocation, not individual security analysis. Someone that knows more about it than I can may want to correct me if I’m wrong. http://www.cimaconsultant.org/ http://www.imca.org/
The CIMA that KJH is referring to is definately the Certified Investment MAnagement Analyst designation, not accounting. I have worked with several Financial Advisors’s who have the CIMA designation, it basically says that you are good at picking and analyzing Investment managers. The part of the process involved in attaining the designation is attending some classes or seminars that are held at Wharton. I don’t see any real benefit from attaining the designation besides adding a few letters after your name. It makes Financial Advisors look like they are intelligent and know what they’re doing. Most retail clients don’t have a clue what CFA or CIMA etc stand for anyways. Edit: CIMA Curriculum Level 1: Essentials of Investments - Bode, Kane, Marcus (typical Intro to Finance text book) Level 2: Take a Class at Wharton or Berkley
Ha, we had some wanna-be salesman come to my work to pitch some software. He claimed the CIMA was “just like the CFA; it uses all the same readings.”
^ HA. Good luck passing the CFA Exams with nothing but Bode, Kane and Marcus… I would like to see how that is done.
Knowing now what I know about the CFA, I would have laughed out loud, then shook my head as I walked out the door…
D’Artagnan Wrote: ------------------------------------------------------- > lol I remember that hanifasif if studying ACCA > (same vein but different target than CIMA) > I’m part qualified from CIMA, the chartered > institute of management accoutants (UK), I’ll try > to help: > > The CIMA u’ve seen after this PM’s name was not > related to the management accounting > qualification. The magic letters u get for > studying CIMA is ACMA (or FCMA if u r good and > after many years). So u’ve seen something else. > The content and exams are way different than CFA > even though I used some overlaps for my Level1 > study. CFA has it’s very own way to challenge ur > understanding > > For the financial service industry, I only got > middle office offers and cannot lend anything else > so far. I’d say that most the CIMA students that > try hard enough (and are good enough) would get a > ceilling @ back office job. well I guess middle > office is not that bad with the current market > conditions … > > anyway I now that I started CIMA, I’ll finish; but > given that u’ll be L2 soon, u won’t bother with > CIMA skills as u’ll be doing completely different > things hmm Miss g, how you know about my pak/saudi origin. You are basically from Karachi, right?
hmm Miss g, how you know about my pak/saudi origin. You are basically from Karachi, right? No I’m French, we just talked about that before
sumz Wrote: ------------------------------------------------------- > Recently I attended a seminar which talked about > differences in CFA/CIMA… > > CFA - mainly for financial services, focused on > asset management and IB > > CIMA - accounting qualification for management > accountants, which covers accounting and business > strategy courses…good if you want to work in a > manufacturing firm > > So at the end it depends what you want to do and > in which direction you are going… > > Hope it helps! > > PS - hanifasif may i know how is CFA viewed in the > part of the world you are in (pak/saudia)? In the > financial services company in Saudia, i am sensing > lots of hype about it…have you sensed it too? > (dont know which sort of firm you are in)… hmm Miss g, how you know about my pak/saudi origin. You are basically from Karachi, right?
somewhere in AF…dont know which thread… and how you know i am miss g? and u havent answered my quest…
One of partners took the CIMA…and no it is nothing like the CFA designation. It is a two step process that involves 1) Taking a 100 q mc question at a testing center…equate it to maybe a mini series 7. 2) Going to Wharton (after shelling out about $7k) and taking 6 days of classes by good professors, and then the final day (btw is a Saturday) take a 4 hour essay exam…you pass you get the designation. The pass rate on the second part is 80%+…I did help him review the material for it. You could possibly say that the portfolio management, TVM type questions are comparable to CFA Level 1 material. Might not be a bad designation for someone who is unsuccessful or gets tired of the CFA program after one test…But of course to those on this board, that would not apply
sumz Wrote: ------------------------------------------------------- > somewhere in AF…dont know which thread… > and how you know i am miss g? > and u havent answered my quest… Read somewhere in AF … dont know which thread in which you said you were a single female looking to relocate in Pak (Karachi). And with regard to your question, all I can say is that scope of CFA is quite good in Saudia, especially in Dubai / Qatar. In Saudia there are hardly 11 fully qualified CFAs but even partly qualified are earning a lot. And in Pakistan CFA qualification is well recognized and well paid (even SEC has listed CFA as recognized qualification).
hanifasif Wrote: > > Read somewhere in AF … dont know which thread in > which you said you were a single female looking to > relocate in Pak (Karachi). > > And with regard to your question, all I can say is > that scope of CFA is quite good in Saudia, > especially in Dubai / Qatar. In Saudia there are > hardly 11 fully qualified CFAs but even partly > qualified are earning a lot. And in Pakistan CFA > qualification is well recognized and well paid > (even SEC has listed CFA as recognized > qualification). Thanks hanifasif! btw, i never said i want to relocate to KHI…