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Paul Gillot & Angela Copland Employer Business Development Managers. Transformation and growth The new CIMA operational structure 2010 Syllabus Transformation of the Finance Function. The new CIMA operational structure. Changing economic climate and customer requirements

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Presentation Transcript
slide2

Transformation and growth

    • The new CIMA operational structure
    • 2010 Syllabus
    • Transformation of the Finance Function
slide3

The new CIMA operational structure

  • Changing economic climate and customer
  • requirements
  • Fast rate of technology change and
  • business response times
  • Re-organisation to get closer to our stakeholders
  • Further enhanced service to Students,
  • Members and prospective customers
slide4

CIMA’s new operational structure

COUNCIL/

GOVERNANCE

STRUCTURE

CIMA

CHIEF EXECUTIVE

CIMA GOVERNANCE & PROFESSIONAL STANDARDS -

Director

CIMA BRAND, PROFILE & MARKETING

SUPPORT

Director

CIMA GLOBAL CORPORATE RELATIONS

Director

CIMA

MARKETS Director

CIMA EDUCATION

Director

CIMA

OPERATIONS

Director

CIMA Market

Regions

CIMA Marketing

Offices

CIMA

Regional

Support

MEMBERS/STUDENTS/CUSTOMERS/STAKEHOLDERS

slide5

Director

New market development and

support

Africa

UK, Ireland and Europe

Middle East,

South Asia

North Asia

ASEAN and Australasia

CIMA Markets structure

a typical market may look like
A typical market may look like:

Regional/Market Director

Country office profile - legends, employers, media and other influencers

Student Recruitment – individuals, employers, alliances/franchises

Student support

Liaison with tuition providers

Member support and events

Marketing

Education and commercial product sales

Offices will provide all or some of the services as close to market as possible

There is an overriding need for efficiency and effectiveness which will dictate that some services will be delivered by the regional director from the most effective source

Small offices will be supported by larger offices in the region

slide8

The new CIMA operational structure

  • Changing economic climate and customer
  • requirements
  • Fast rate of technology change and
  • business response times
  • Re-organisation to get closer to our stakeholders
  • Further enhanced service to Students,
  • Members and prospective customers
agenda 2010 qualification
Agenda – 2010 Qualification

The Qualification Development

Structure and Content of the Qualification

T4 - Test of Professional Competence

Transition - current to new qualification

research and development
Research and development

As in 2004, we have worked with our qualification

development partners the School of Management

at the University of Bath

Continuity in our methodology……

research and development1
Research and development

Employers of CIMA members and students

Our members

Our tuition providers

The CIMA Faculty ….examiners, technical consultants and markers

Our Higher Education partners

Our students

Extensive consultation and feedback

with all key stakeholders

research and development2
Radical restructuring of the qualification is considered unnecessary

Subtle reform of the technical content …. and its assessment is required

Research and development

Research concluded:

research and development3
Making more prominent

ethics, corporate governance and green accounting

extending these issues to areas where they are currently absent (e.g. environmental management accounting, finance)

Research and development

Research suggested:

research and development4
Emphasising the following contemporary issues where relevant throughout the syllabus:

Management

Globalisation and international trade

Outsourcing decisions /shared services

Business partnering

Research and development

Research suggested:

slide16

The 2010 Qualification

Structure and Content

introduction
Introduction

The Chartered Management Accounting Qualification 2010

We regularly update the qualification …….to ensure that it remains highly relevant and meets the ever changing needs of employers and their staff

slide18

Award -

Member of the Chartered Institute of Management Accountants

Test of Professional Competence in Management Accounting

Enterprise Pillar

Performance Pillar

Financial Pillar

Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting

-

Part A – Initial Professional Development Assessment of Practical Experience

Part B–Case study examination based on Preseen and Unseen material

Professional Competence

Level

E3

Enterprise

Strategy

P3

Performance

Strategy

F3

Financial

Strategy

Strategic

Level

-

-

-

Award - CIMA Advanced Diploma in Management Accounting

E2

Enterprise

Management

P2

Performance

Management

F2

Financial

Management

-

Management

Level

-

-

Award - CIMA Diploma in Management Accounting

F1

Financial

Operations

E1

Enterprise

Operations

P1

Performance

Operations

-

-

-

Operational

Level

slide19

Award -

Member of the Chartered Institute of Management Accountants

Test of Professional Competence in Management Accounting

Enterprise Pillar

Performance Pillar

Financial Pillar

Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting

-

Part A – Initial Professional Development Assessment of Practical Experience

Part B–Case study examination based on Preseen and Unseen material

Professional Competence

Level

E3

Enterprise

Strategy

P3

Performance

Strategy

F3

Financial

Strategy

Strategic

Level

-

-

-

Award - CIMA Advanced Diploma in Management Accounting

E2

Enterprise

Management

P2

Performance

Management

F2

Financial

Management

-

Management

Level

-

-

Award - CIMA Diploma in Management Accounting

F1

Financial

Operations

E1

Enterprise

Operations

P1

Performance

Operations

-

-

-

Operational

Level

slide21

Key Syllabus Content

  • Change management
  • Green issues
  • Governance and ethics
  • Tax
  • Re-emphasis of:
    • Strategy and decision making
    • Risk management
the new t4
The new T4

Part A

Initial Professional Development

Part B

Case Study Examination

Assessment of Practical Experience

based on Preseen and Unseen Material

Professional Competence Level – T4 Test of Competence – Parts A and B

T4 Test of Professional Competence in Management Accounting

Part B success = at least

25 credits (from a

maximum of 50 credits)

Part A success =

50 credits

slide25

P10

P5

P6

P4

P2

P3

P1

P9

P8

P7

Transition arrangements

The 2010 Qualification

The 2005 Qualification

A ‘one for one’ match

key dates and deadlines
March/May

First examinations based on the new 2010 qualification

July

Exam results published for the first diet of exams based on the 2010 qualification

Key dates and deadlines

In 2010:

slide27

The CIMA Difference

Practical, on-the-job learning

MBA programmes

“Accounting”

Regulatory andcompliance

Management skills, financial orientation

slide28

The CIMA Emphasis

The Accountancy Landscape

Management Skills

Decision Support

Governance

and Ethics

Business Strategy

Risk Management

CIMA

Narrative Reporting

Financial Accounting

And Compliance

Management Accounting

and Decision Making

IFRS

Tax Planning

Sarbanes Oxley

Treasury Policy

Technical Skills

conclusion
Conclusion

Evolution …. not revolution …. changes based on primary stakeholder feedback

Transition arrangements – simple

Maintains currency with business needs

The Chartered Management Accounting Qualification 2010

agenda
Agenda

CIMA ‘Improving Decision Making Forum’

Finance transformation

Transformation enablers

Business partners

Conclusions

the future of finance
The future of finance

“Accountants could go the way of (UK) coal miners – a mighty industry that once employed three quarters of a million and helped bring down a government today employs fewer employees than SmithKline Beecham. I believe that accountants in industry could go the same way if they do not realise the fundamental changes they need to make”

the late Sir Hugh Collum

Executive Vice President and Chief Financial Officer

SmithKline Beecham

agenda1
CIMA ‘Improving Decision Making Forum’

Finance transformation

Transformation enablers

Business partners

Conclusions

Agenda
slide37

Role of finance function is changing

Business Partner

Team Member

Advocate

Service Orientation

Commentator

Performance Evaluation

Guardian

Technically Competent

Scorekeeper

Transaction Based

Time

slide38

Need for new,

broader skills set

agenda2
CIMA ‘Improving Decision Making Forum’

Finance transformation

Transformation enablers

Business partners

Conclusions

Agenda
finance cost reduction
Finance Cost Reduction

100%

50%

Peer group

World-class

Labour

Outsourcing

Technology

Other

the expanding role of sscs
The expanding role of SSCs

Analysis &Reporting

Transactional

Highervalue

Management

Skills & technology enables

raising the bar requires new skills
Raising the bar requires new skills

Advanced Diploma

Analysis &Reporting

Diploma & Certificate in Mgt Accounting

Transactional

Management

ACMA

agenda3
CIMA ‘Improving Decision Making Forum’

Finance transformation

Transformation enablers

Business partners

Conclusions

Agenda
slide44

Finance’s contribution to improving decision making

  • Frame decisions
  • Finance data discipline
  • Managing for value
  • Performance management
  • Risk management
  • Analytics
slide47

Management Accountants’roles in Business Intelligence

  • BI strategy and Business Case
  • Implementation
  • Data Quality
  • Performance management
  • Analytics
agenda4
CIMA ‘Improving Decision Making Forum’

Finance transformation

Transformation enablers

Business partners

Conclusions

Agenda
conclusions
Conclusions

CIMA Syllabus

Career progression

cima syllabus
CIMA Syllabus

Cash

Liquidity

Cost

Budgets

Forecasts

Performance management

Risk management

Scenario modelling

Strategic options

Business partnering

Covers But does more of

how it was the future

slide52
Paul Gillot/Angela Copland

The Chartered Institute of Management Accountants

26 Chapter Street

London SW1P 4NP

paul.gillot@cimaglobal.com

angela.copland@cimaglobal.com

Further Information