CIMA: the qualification
CIMA is a regulatory body that focuses on accounting for business which enables you to formulate financial strategies for business. However, it is different from being a Chartered Accountant. According to Narsimham, “People with CIMA qualification are different from Chartered Acoountant (CAs) as they can advice an organization while the transaction is going on as opposed to CAs who gives advice after the transactions take place(main scope of work of a CA is to audit)”. Thus CIMA enables you to be a part of a business rather than just being a reviewer.
The CIMA qualification can be taken up people from any background. As per Ranjani, It is best suited for working professionals and managers who might want to enhance their profile in the finance sector. The course can be taken in various levels with specific qualification awarded at different levels. Total time for the full course is two to two and half years (for B. Com or CA background) and upto three years otherwise.There are many exemptions in the course structure available for B.Com graduates or CA professionals.
Fee for the course
The course fee can be paid according to the number of tests taken by a candidate.
Since it is a qualification more than an academic degree, placement is not guaranteed. However, CIMA works with different organizations and keeps them informed about the quality and content of the course. Also, with a lot of CIMA graduates at top positions in the corporate world, finding a job is easy.
The tie-up with K.J. Somaiya Institute of Management Studies and Research
The study support center at the KJSIMSR, headed by K.S. Ranjani, will facilitate students and working professionals in Mumbai, who want to take up the CIMA qualification. The classes will be held at the center and will be taken up by the professors of KJSIMSR who have been specially trained for the course. More faculty will also be trained for teaching the CIMA concepts.
The center will start from July 2009 and will be open to all who want to take up the CIMA qualification. The classes will be held on weekends and in the evenings to allow more working professionals to take up the course.