The Full Form of ‘CIMA’ in Business is ‘Chartered Institute of Management Accountants’.
Full Form of CIMA
The full form of CIMA in business is Chartered Institute of Management Accountants. CIMA stands for the Chartered Institute of Management Accountants and it is an organization that provides professional qualifications to individuals who want to enter the field of management accounting. CIMA is a world-leading professional body in the field of management accountancy, providing credentials to its members across the globe. It is also one of the largest professional bodies in this area with more than 227,000 members and students in over 180 countries.
CIMA was founded by a group of like-minded professionals who wanted to provide better services for businesses. They saw a need for accountants to have an increased knowledge and understanding of business operations so that they could provide better advice and support to organizations. As such, CIMA was established in 1919 as an independent organization with the aim of helping businesses manage their finances more effectively and efficiently.
The main objective of CIMA is to promote excellence in management accounting practices by developing and maintaining standards and qualifications that equip its members with the relevant skills needed for financial decision making. To achieve this, it has developed a range of qualifications which are recognized globally including: Foundation Level Certificate in Business Accounting, Advanced Diploma in Management Accounting, Professional Qualification (CBA) and Professional Qualification (Advanced Diploma). Each qualification requires candidates to demonstrate their knowledge and skills through written assignments and examinations as well as practical experience obtained during training or on-the-job placements.
To become a full member, individuals must first hold a qualifying degree or equivalent qualification plus have three years’ work experience as a management accountant or related role including two years’ supervised practice under supervision from an approved supervisor. Once these requirements are fulfilled, individuals can apply for membership with CIMA which will enable them to use the designatory letters ACA (Associate Chartered Accountant) after their name confirming their status as qualified accountants who meet international standards set by the institute.
CIMA members have access to numerous benefits including: discounted rates for conferences; subscription discounts; access to research papers; mentoring programs; networking events; annual awards; job search resources; career development opportunities; discounts on products from associated companies; exclusive resources such as books and magazines; access to an online library containing thousands of titles relating to business topics; access to case studies from around the world; guidance on ethical issues in business etc.,
In conclusion, CIMA stands for Chartered Institute of Management Accountants which provides professional qualifications for those looking at entering into this field. It has been providing quality education since 1919 which enables its members gain expertise that helps them make well-informed decisions within their respective organizations leading towards positive outcomes.
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