Introduction

Introduction from the Chief Executive of CIMA

Ask any finance professional why they chose a career in management accountancy and it’s likely they’ll tell you that they want to make an impact on the business world. Choosing a career as a management accountant is a great way to get to the heart of business. Financial literacy is increasingly becoming one of the key skills required to reach the top of the business ladder and chartered management accountants are well equipped to forge a rewarding and successful career.

Unlike other types of accountants, finance professionals who have qualified with the Chartered Institute of Management Accountants (CIMA) are uniquely trained to use their financial skills to add value to an organisation and help drive it towards greater success whether it’s in industry, commerce, not-for-profit or the public sector.

Today, you will find chartered management accountants among the UK’s top business leaders. These include: Douglas Flint, group chief financial officer of HSBC bank; Andrew Higginson, group finance and strategy director of Tesco and chief executive officer of Tesco Services; Phil Bentley, managing director of British Gas; Helen Weir, group executive director at Lloyd’s TSB’s UK Retail Banking division; and Hanif Lalani, chief executive of BT Global Services.

Many people are attracted to management accountancy because it’s forward-looking. Rather than just studying how an organisation has performed in the past, chartered management accountants (Associates of the Chartered Institute of Management Accountants or ACMAs) are geared towards analysing performance, assessing business possibilities, grasping opportunities and shaping the future.

Finance is central to the operations of any organisation and the skills acquired by chartered management accountants enable them to work at the core of an organisation and understand its broader dynamics from a financial perspective.

Another attraction of management accountancy is career flexibility. The skills acquired by CIMA members are not limited to the finance function. Career opportunities can be found in a variety of roles including business analyst, project manager, forensic accountant, director of change, director of operations, director of business planning, group treasurer, chief executive officer and company chairman. It also provides an excellent financial foundation for anyone wanting to start up their own business ventures. What’s more, as an internationally recognised qualification, it carries a mark of prestige around the world.

To excel in any financial management role, you will need to have specific talents. Excellent communication skills are essential. A management accountant’s function is not only to interpret complex data but to discuss it clearly with finance and non-finance professionals alike. You will also need to be comfortable dealing with uncertain, qualitative or future-orientated information.

Being a CIMA student or member also means that you will never be alone. CIMA provides a comprehensive range of support services and tools for its students and, once you’ve qualified, the institute will continue to ensure that you review your career options and update your business knowledge through the CIMA Professional Development programme. With 171,000 students and members in 165 countries, CIMA gives you the opportunity to become part of a global network of movers and shakers.

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