CIMA for education purposes??

tomcollins97

Hi,
I am looking into what further enducation options are available (masters etc) and came across CIMA.

Obvious advantage is you are not comitting to 2 or 3 years consecutive study but can take breaks if necessary. What is the '3 years experience' required to become a CIMA member?

I am not sure yet if I want to be a 'management account' but to move up I need way more management/finance knowlege as I am not a business graduate.

Any comments as to which would be better - a masters in Finance (TCD or NCI) or CIMA qualification?

Cheers,
TC

Once you have passed all your exams you are a passed finalist.

You then need to apply and to be able to demonstrate that you have three years experience of working in an accounting function covering various areas of general accounting and management accounting.

Once this is approved you become a member of CIMA and can call yourself an Associate Chartered Management Accountant (ACMA)

Not sure of the merits of CIMA vs a masters in Finance - where do you want to work after?

I do know CIMAs in London who work as pricing analysts in banks and funds etc.

tomcollins97

Thanks for that.

Working in fund admin at the moment. Is there any point in doing the exams but then not going straight into an accounting function and becoming an 'Associate Chartered Management Accountant'? i.e. any point in have the CIMA education but not the ACMA qualification?

Edit: re reading your question if you were able to move around a bit in your job you might have enough relevant experience to cover either ACCA or CIMA.

Yes - it shows you can apply yourself and study part time over several years etc.

I do know one or two who did a few years in accounting and became members and then went on to work in unrelated areas (project management, purchasing) but that is equally true of other accounting qualifications (ACA, ACCA).

Something to consider if you are in Dublin is the new Masters in Strategic Management Accounting from Smurfit:
http://www.smurfitschool.ie/mastersprogrammes/accountingandfinance/mscinstrategicmanagementaccounting/
It exempts you from all but the last CIMA exam.

If you want to go into something high faluting the Masters in Finance from Trinity is probably the way to go. If you see yourself leaving funds / banking accounting is probably the way to go.

tomcollins97

That course looks very cool except the entry requirements:

At least a Second Class Honours Grade 1 or equivalent in a business degree.
Full exemptions from the following CIMA papers:
Operational Level: P1 Performance Operations and F1 Financial Operations.
Management Level: P2 Performance Management

Woouldn't apply in my case - Maths/Science background. I think I would need to do the CIMA certificate in business accounting before I could start CIMA 'proper'.

Not in time for the Novemebr exams so no harm done as the above is computer based exams