Chartered Institute of Management Accountants

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Chartered Institute of Management Accountants

1. Investigate & Analyze the Company’s History & Growth. The Chartered Institute of Management Accountants is a professional body supporting management accountants through the world by training and qualification. CIMA was founded in 1919 in UK as "The Institute of Cost and Works Accountants" (ICWA) and changed its name to CIMA in 1986. The number of its members and students has grown from 15,000 in 1970 to 183,000 in 2011 in over 168 countries. This UK based accounting qualification has been particularly popular in the Commonwealth countries. The syllabus of CIMA contributes to understand all aspects of business so the members can work in many areas of an organisation. CIMA is a member of main federations in accounting field, like CIMA is a member of the Consultative Committee of Accountancy Bodies and International Federation of Accountants. In 2009 CIMA celebrated its 90 years anniversary. Its students and members, qualified members and major employees are CIMA’s stakeholders.

2. Identify Strengths & Weaknesses within the Company CIMA prepares people for a career in business. It teaches skills for strategic advice, managing risk and making key decisions. Its main activities comprises operating fifteen qualifying examinations, promoting local education, training and management development operations, research and publication. One of the strengths of CIMA is recruitment of its members. In 2006, 70% of CIMA members were employed in industry and commerce. Students’ recruitment year-on-year is 30%. CIMA members earn significantly higher salaries than the national average wage in all countries. In many developed economies this would usually be between two and three times the national average but in developing economies such as Malaysia or Sri Lanka it can be as much as six or even ten times the national average. In 2011 CIMA started the first qualification offered by a professional chartered...
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