We live in an era where acronyms are taking over the world. From FBI to UN, ISRO to IPL, and then there’s our daily chai vs CCD debate – it’s as if we’re stuck in an endless game of alphabet soup! Today, we’ll decode another exciting combo from the world of finance: CIMA after CA.
Nope, that’s not a secret code and, trust me, it’s not your next Thali order either. It’s the golden ticket that can rocket your career in finance into the global stratosphere. For our friends just starting to dip their toes into this acronym-filled ocean, CA is Chartered Accountant, the superhero of Indian finance world, and CIMA stands for Chartered Institute of Management Accountants. Yep, that’s a mouthful. But don’t worry, by the end of this article, you’ll be tossing around these terms like Virat Kohli smacks sixes!
Alright, first things first. CIMA, or the Chartered Institute of Management Accountants, is like the Shah Rukh Khan of the finance world – globally recognized and respected, and even with a bit of that romantic charm, but this one’s for your career!
CIMA is known for its focus on management functions, strategic decision making and maintaining a global outlook – something that’s becoming more relevant with every international merger or acquisition. And, no, it’s not like that compulsory add-on your family takes while buying appliances, it’s the one that you actually need!
Take our friend Rajesh, for instance. A homegrown CA, Rajesh was the perfect guy-next-door for any Indian company. But, when he wanted to pitch himself to global firms, he realized he needed something more. That’s where CIMA came in. With his CIMA certification, Rajesh could now understand, and more importantly, speak the international finance lingo.
Ever watched a Hollywood movie without subtitles? Remember the confusion? That’s exactly how it feels when you’re dealing with international finance without a global certification like CIMA. After his CIMA certification, Rajesh was no longer just the guy-next-door, he was the new global finance whiz kid on the block. And boy, did he start attracting attention from MNCs!
So, whether you’re just starting your finance journey or are a seasoned CA, considering CIMA is like considering biryani at a potluck – it’s always a good idea.
In our next section, we’ll delve into the superstar combo – CIMA after CA, and trust me, it’s as exciting as an India-Pakistan cricket match!
Want to start your CIMA journey? Checkout IMS Proschool’s CIMA course
The Super Duo: CIMA after CA
CAs in India are akin to the Indian cricket team – they are the pride of the nation, a powerhouse of talent, and carry an enormous weight of expectations. But what happens when they wish to play on the global field? Like our cricketers adapting to alien pitches and different formats, our CA champions may need some extra skills. Enter CIMA.
Bingo! We have the super duo: CIMA after CA. It’s like adding extra cheese to your pizza, ghee to your dosa, or chutney to your samosa. You can manage without them, but they make everything so much better!
Now, before you raise your eyebrows and bombard me with questions like “Is CIMA after CA worth it?” or “Won’t it be too much on my plate?”, let me introduce you to Priya.
Priya, a CA, was managing well at an Indian MNC. However, she had set her eyes on a job opportunity at their London branch. She knew her CA knowledge was robust, but to slide smoothly into international waters, she needed a global buoyancy aid. So, she decided to pursue CIMA after CA.
Now, Priya sits comfortably in her office in London, her CA knowledge supplemented beautifully with her CIMA skills. She handles budgets like she handles her cup of masala chai, effortlessly, with a bit of spice.
The journey wasn’t easy, though. When she started, she asked the same question you might be thinking right now, “Is CIMA tougher than CA?” The answer, my friends, isn’t straightforward.
CIMA, with its focus on strategic and management aspects, is like learning a new cricket format. You’ve got the basics from your CA (like our cricketers get from Ranji Trophy), but you need different tactics to win on the global pitch.
Did Priya find CIMA tougher than CA? Yes, at times. But she also found it thrilling, like watching a nail-biting IPL final. At the end of the day, her CA knowledge provided a strong foundation, and CIMA built a global penthouse on top of it!
So, if you’re a CA contemplating your next move, going for CIMA is like opting for a Shah Rukh Khan movie – it promises both entertainment and value!
Skipping Ahead: Exemptions for CA in CIMA
Did you know that CIMA offers exemptions for CA professionals? It’s like being allowed to skip the queue at your favourite street food stall because you’re a regular. Your commitment to devouring financial knowledge is rewarded with some shortcuts, just like your dedication to pani puri!
So, how does this work?
After CA, you can get exemptions in 12 out of 17 exams of the CIMA certifications. Which means you only as a member or passed finalist of the Institute of Chartered Accountants of India (ICAI), you are eligible for advanced entry through the professional gateway route
CIMA offers the following exemptions for Chartered Accountant (CA) students:
- Certificate level: You are exempted from all the four papers at the Certificate level (BA1 Fundamentals of Business Economics, BA2 Fundamentals of Management Accounting, BA3 Fundamentals of Financial Accounting, BA4 Fundamentals of Ethics, Corporate Governance and Business Law).
- Operational level: You may also be exempted from the three objective tests at the Operational level (P1 Management Accounting, F1 Financial Reporting, E1 Organisational Management), but not the case study exam.
- Management level: No exemptions are offered.
- Strategic level: No exemptions are offered.
The Money Talk: The Salary Outlook
Alright, time for some serious talk – the moolah, the greens, the big bucks! Because, at the end of the day, who wouldn’t want their bank balance to look as stacked as a wedding buffet?
So, what’s the salary outlook for CA with CIMA?
In India, a CA commands a respectable paycheck, kind of like a cricket captain in a team. But add CIMA to that mix and you’re not just the captain anymore; you’re the captain who can smash a century, take crucial wickets, and save boundaries – a bonafide MVP!
To give you a perspective, let’s bring back Priya. After her CIMA, she saw her pay package swell like a bhatura in hot oil. Why, you ask? Because with her CA and CIMA combo, she wasn’t just a financial expert anymore, she was a strategic powerhouse capable of steering her company to financial success in global waters.
While the exact figures can vary based on the industry, experience, and location, one thing’s for sure – CA with CIMA is like biryani with raita, it just enriches the whole deal!
Also Read – CIMA Exam Results and a Look at the Structure
Your Journey with IMS Proschool
Now that we’ve navigated the meandering gullies of CIMA after CA, let’s find a guide who can show us the way, someone like Google Maps for your financial journey. Enter IMS Proschool!
Choosing a course is like choosing your perfect biryani joint. You want it tasty, value for money, and from a place that doesn’t give you a food coma, or in this case, a study coma. IMS Proschool is that perfect biryani joint for your CIMA course after CA journey.
Why? Here are a few reasons:
- Experienced faculty: IMS Proschool has experienced faculty, the ‘chefs’ of our biryani, who know their stuff. They’ve been around the block, and they know the perfect recipe for your CIMA success.
- Quality study material: The course material provided is curated by industry experts, providing the right ‘ingredients’ for your learning.
- Flexible learning options: We understand that everyone has their style, some like to dine in, while others prefer takeaways. Similarly, we offer both classroom and online training, suiting your convenience.
- Exciting case studies: The curriculum includes real-life case studies, making learning as exciting as adding that extra spice to your biryani.
- Get job ready: The course not only prepares you for the CIMA exams but also offers placement assistance. It’s like a full-course meal ending with a delicious dessert.
Like our friend Ravi, who aced his CIMA certification with flying colors thanks to IMS Proschool. A CA turned global finance expert, Ravi is now working in one of the top MNCs, and his career graph looks as beautiful as Mumbai’s skyline!
So why wait? Take the leap and add that extra zing to your CA with CIMA at IMS Proschool. Make your career as sizzling as a plate of sizzling brownie!
How to Enroll in CIMA after CA?
Now, if you’re wondering how to go about enrolling in CIMA after CA, it’s as simple as ordering from your favourite food app. It’s all at your fingertips, and before you know it, you’ll have a delicious career spread in front of you.
Here are the steps:
- Sign Up: Just like signing up for a new social media platform, head over to the CIMA website and create a new account.
- Documents: Provide necessary details and upload the documents. It’s like giving the restaurant your address for home delivery, but in this case, you’re delivering your CA completion certificate and other relevant qualifications.
- Exemptions: Claim your exemptions. It’s like applying a discount coupon you received for being a loyal customer.
- Fees: Pay the fees. Imagine you’re paying for a Netflix subscription, but this one boosts your career!
- Start Studying: Once your exemptions are confirmed, and you are officially a CIMA student, you can start your preparation. It’s like your pizza being ready to go into the oven.
- Exam Time: Schedule and sit for your exams when you’re ready. It’s like checking the pizza in the oven; only when it’s baked to perfection do you get to enjoy it!
Don’t worry, you won’t be alone in this journey. We at IMS Proschool will be with you at every step, like a supportive friend cheering for you in every IPL match.
Well, there you have it – your handy guide to pursuing CIMA after CA.
In a nutshell, CIMA after CA is like watching the director’s cut of a movie after watching the theatrical release. You get the bigger picture, the global view, and a deeper understanding of strategic management and decision-making. You also get to skip some steps (or papers, in this case), and there’s a good chance your bank balance will look healthier, like you after a month at the gym.
And remember, we at IMS Proschool are always ready to guide you in this journey, adding that tadka of support and spice to your career!
So, what are you waiting for? Pull up your socks, roll up your sleeves, and step into the exciting world of CIMA after CA. And while you’re at it, why not check out our CIMA course? Who knows, it might be the beginning of an exciting new chapter in your life. Cheers!
Let’s do a quick round of rapid-fire, answering the questions popping in your head faster than popcorn in a microwave.
How many papers are there in CIMA after CA?
Well, thanks to the exemptions, CAs only have to sit for 12 papers instead of the full 17. That’s like being able to skip the long queue at the cinema because you’re a frequent visitor.
Do I need work experience for CIMA?
Not really, you can start CIMA right after your CA. It’s like not needing any cooking experience to order from Swiggy!
Can I do CIMA after CA Inter?
Absolutely, you can start CIMA after CA Inter. It’s like being allowed to play the next level in a video game, even though you haven’t finished the current one.
Which is more respected, CA or CIMA?
Both have their own charm. It’s like comparing Shah Rukh Khan and Amitabh Bachchan. Both are respected, but they offer different things!
How long does it take to complete CIMA after CA?
Generally, it takes about 2-3 years to complete CIMA after CA, but it can vary depending on the individual. It’s like some people can finish a plate of golgappas in 2 minutes, while others might take 5.
Is CIMA a good choice for a long-term career?
Absolutely, it’s like investing in a LIC policy. It’s something that will hold you in good stead in the long run.