CIMA for GraduatesBhumish2023-01-11T10:52:36+00:00
CIMA for Undergraduates: The Global Management Accounting (GMA) Program
Top MNC’s and Accounting firms look for both qualifications + personality fit with the organization. Our GMA Program is designed for Under Graduates from any stream. It trains you to become a CGMA (designation powered by AICPA, US & CIMA, UK). In addition, it helps you develop your profile via resume building, aptitude testing and communication skills.
CIMA is the Chartered Institute of Management Accountants. CIMA is a Global Professional Qualification which has acceptance in almost 180 countries of the World. CIMA is a 100 Year Old Qualification. CIMA is the leading body of Management Accountants in the World.
If you have inclination towards Finance or Management or Both, then CIMA is the best choice as CIMA gives you best of both the Worlds i.e. CA and MBA. Through CIMA, you can work not only in Finance but also in Marketing, HR, Operations, and Project Management etc. Through CIMA, you can work not only in India, but across the world.
Broad parameters of difference are as follows:
a) Pass Rate: CA pass rate is usually low i.e. between 5 to 10%, ACCA and CIMA Pass Rates are on an average between 50 to 60% and CFA pass rate is not fixed but top 40-45% students are able to pass in every attempt.
b) Focus: CA and ACCA are primarily Accounting Qualifications having more focus of Accounting, Taxation and Audit. CFA is a hard core Finance qualification, while CIMA is a qualification having equivalent focus on Accounting, Finance and Management. That is why CIMA is called as combination of CA and MBA – best of both the Worlds.
c) Duration: CA takes on an average 5-6 years, ACCA can take from 1-3 years depending upon exemptions, CFA takes around 2-3 years to complete 3 levels and CIMA takes 1.5 to 2.5 years to complete exams depending upon prior qualification.
d) Group System: Apart from CA, there is no group system anywhere in ACCA, CIMA or CFA.
e) Job Prospects: CA has immense job prospects in India, CIMA and ACCA job prospects are increasing because of KPOs in India. CFA job prospects are also good.
f) Value: In CA, we have value only after completing CA while in case of CIMA, ACCA and CFA, we have value after each level.
g) Costing: Costing for CA is around 3-4L, while for ACCA, it is around 1.9-4L depending upon exemptions. CFA costing is around 3-4L and CIMA costing is between 2.5-4.5L. Note that costing includes training/coaching as well.
h) Eligibility: Students can enter into CIMA or ACCA after 10th as well. While in CA, you must be a 12th standard pass out and in CFA, you must be a Graduate. Candidates in Final year of Graduation can apply for CFA exams.
i) Training/Experience Requirement: All these qualifications require Training/Practical Experience Requirement (PER). CA, ACCA and CIMA has 3 year Training/PER and CFA has 4 year experience requirement to become a member. In CA, our 3 year article ship experience is not counted for Professional Career, we are considered as fresher after qualifying CA. While in CIMA, ACCA and CFA, it is counted from the day one.
All these qualifications are very good. You need to identify your interests and objectives and then choose the qualification according to that. Like if you have interest in Accounting or Audit or Taxation, go for CA or ACCA. ACCA makes more sense if you want to become Global. If you want to go into Finance, go for CFA. However, if you have interest in Finance as well as Business both, then CIMA is the best option. CIMA and ACCA are Global as well as broad based qualifications and can give you scope in diverse areas.
You should consider IMS Proschool as:
a) IMS Proschool is an Approved Learning Partner of CIMA.
b) IMS is more than 40 year Old group and was awarded as the 4th Most Trusted Brand for Education in India
c) Our Success rate is more than 80% across all the CIMA Exams
d) IMS Proschool was awarded as the Platinum Learning Partner by CIMA India
e) IMS Proschool has taught more than 2000 CIMA students in India and more than 100 have already qualified CIMA
f) IMS Proschool has rank oriented approach and has already produced more than 100 Global and Indian Rankers in CIMA
g) We prepare you comprehensively not only for CIMA, but for your Career
h) You will be able to complete CIMA in the shortest duration and at a reasonable cost
i) You will be trained for CIMA and Financial Modeling @ ZERO effective cost