CIMA - Chartered Institute of Management Accountants
Management accounting is the practical science of value creation within organisations in both the private and public sectors
It combines accounting, finance and management with the leading edge techniques needed to drive successful businesses. Management accountants operate in financial and non-financial roles throughout organisations and carry out all their training and experience requirements within business itself, providing them with a unique insight into how their organisations operate.
Chartered Management Accountants are financially qualified business leaders
They operate within all areas of organisations, in both the private and public sectors, driving success and creating value through a combination of the application of leading edge techniques and an in-depth understanding of the businesses in which they operate. While qualified in accounting and finance, their focus is commercial and forward looking, pre-empting and adapting to businesses’ changing needs.
Specifically they:
* design, implement and manage (automated) integrated information systems that combine financial and non financial data to provide insightful (electronic) reports to assist in managing performance and inform decision making
* design, implement and manage (automated) transaction processing activities, including financial accounting, payroll, purchasing and payments, often carried out in a shared service centre
* design, improve, measure and manage end-to-end business processes and activities, often extending beyond the organisational boundaries, ensuring delivery of optimum efficiency and effectiveness in the use of resources
* work as an analyst; consultant; relationship, project and change manager in support of the business; and as a business partner integrated into divisional and operational units and processes throughout the organisation, bringing commercial and strategic insight, innovative thinking and a collaborative approach
* take responsibility for formulating and managing organisational policy, strategy and objectives, producing business plans, forecasts, scorecards, cost/benefit analysis and budgeting information as appropriate
* design and implement excellence in corporate governance, including risk management, internal audit and controls, company secretarial, corporate social responsibility and board and stakeholder reporting
* determine capital structure and acquire and manage funds. Carry out due diligence in mergers, acquisitions, business partnerships and joint ventures.
Our Mission
To be the first choice for employers in the qualification and development of management accountants.
CIMA values
At CIMA we work to qualify students, support members and protect the public interest. We are the voice of the accountancy profession.
Together, our five values encapsulate how we work to benefit our diverse range of customers: colleagues, members, employers, students, colleges, peers, and the wider business community.
Customer focused
* We listen, understand and empathise with our customers, both internal and external, to provide the best possible solutions.
* We each know who our customers are and always work to anticipate their needs, ensuring that we are well informed with the aim of exceeding their expectations.
* We work together to deliver a quality service, communicating clearly and consistently to ensure customer satisfaction.
Accountable
* We are each responsible for understanding why and how we do things and communicate our progress in order to keep the customer informed.
* We outline and communicate responsibilities for everyone and establish clear guidelines, timeframes and standards to ensure we deliver against objectives.
* We are realistic about what we can achieve and consider the impact of our actions on others throughout the organisation and the accountancy profession.
* We have confidence in the ability of ourselves and others, supporting each other in our decision making and taking ownership for our actions. We learn from experience.
Open
* We share accurate and timely information honestly and responsibly, using the most appropriate channel for communication.
* We share resources and exchange ideas to achieve goals and ensure that each person has the right information to fulfil their role.
* We welcome and provide constructive, direct and timely feedback. We trust each other to maintain confidences where appropriate.
Innovative
* We constantly challenge the way we work, embrace change and look for better ways to do our jobs. We consult widely and build on our existing knowledge
* We make space for creativity and imagination, and encourage a focused forward-thinking and idea sharing culture.
* We value initiatives both large and small and explore the development of new ideas.
Professional
* We inspire confidence in others by thinking about the impression we make. We have the right skills and knowledge, and ensure we are appropriately prepared at all times.
* We define and work to high standards.
* We treat people with courtesy and respect. We listen to those around us, responding in an honest, consistent and rational manner.
* We always fulfil our promises.
