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Paul Gillot & Angela Copland Employer Business Development Managers
Paul Gillot & Angela Copland Employer Business Development Managers CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Transformation and growth • The new CIMA operational structure • 2010 Syllabus • Transformation of the Finance Function GFP Conference 11 January 2017 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 New CIMA Structure GFP Conference 11 January 2017 CIMA’s new operational structure COUNCIL/ GOVERNANCE STRUCTURE CIMA GOVERNANCE & PROFESSIONAL STANDARDS Director CIMA BRAND, PROFILE & MARKETING SUPPORT Director CIMA GLOBAL CORPORATE RELATIONS Director CIMA CHIEF EXECUTIVE CIMA MARKETS Director CIMA EDUCATION Director CIMA OPERATIONS Director CIMA Market Regions CIMA Regional Support CIMA Marketing Offices MEMBERS/STUDENTS/CUSTOMERS/STAKEHOLDERS New CIMA Structure GFP Conference 11 January 2017 CIMA Markets structure Director New market development and support Africa New CIMA Structure UK, Ireland and Europe Middle East, South Asia North Asia ASEAN and Australasia GFP Conference 11 January 2017 A typical market may look like: Regional/Market Director Country office profile - legends, employers, media and other influencers Offices will provide all or some of the services as close to market as possible Student Recruitment – individuals, employers, alliances/franchises 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 Student support Liaison with tuition providers Member support and events Small offices will be supported by larger offices in the region Marketing Education and commercial product sales New CIMA Structure GFP Conference 11 January 2017 CIMA UK market – proposed structure CIMA BRAND & PROFILE & MARKETING SUPPORT Executive Director CIMA GLOBAL CORPORATE RELATIONS Executive Director CIMA MARKETS Executive Director CIMA EDUCATION Executive Director CIMA OPERATIONS Executive Director HRBP FBP Director UK Division Profile Marketing Business Development Employer New CIMA Structure Business Development Student Recruitment Member & Student Network Services Tuition Support CIMA Contact Division Support Office GFP Conference 11 January 2017 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 New CIMA Structure GFP Conference 11 January 2017 The new Chartered Management Accounting Qualification 2010 Angela Copland 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Agenda – 2010 Qualification • The Qualification Development • Structure and Content of the Qualification • T4 - Test of Professional Competence • Transition - current to new qualification 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Research and development Continuity in our methodology…… As in 2004, we have worked with our qualification development partners the School of Management at the University of Bath 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Research and development Extensive consultation and feedback with all key stakeholders • 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 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Research and development Research concluded: • Radical restructuring of the qualification is considered unnecessary • Subtle reform of the technical content …. and its assessment is required 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Research and development Research suggested: • 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) 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Research and development Research suggested: • Emphasising the following contemporary issues where relevant throughout the syllabus: – Management – Globalisation and international trade – Outsourcing decisions / shared services – Business partnering 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE The 2010 Qualification Structure and Content 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE 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 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Strategic Level Professional Competence Level Award -Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Part A – Initial Professional Development Assessment of Practical Experience E3 Enterprise Strategy Part B–Case study examination based on – Preseen and Unseen material P3 Performance Strategy F3 Financial Strategy Management Level Award - CIMA Advanced Diploma in Management Accounting P2 Performance Management E2 Enterprise Management F2 Financial Management Operational Level Award - CIMA Diploma in Management Accounting E1 Enterprise Operations P1 Performance Operations F1 Financial Operations Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting - Strategic Level Professional Competence Level Award -Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Part A – Initial Professional Development Assessment of Practical Experience E3 Enterprise Strategy Part B–Case study examination based on – Preseen and Unseen material P3 Performance Strategy F3 Financial Strategy Management Level Award - CIMA Advanced Diploma in Management Accounting P2 Performance Management E2 Enterprise Management F2 Financial Management Operational Level Award - CIMA Diploma in Management Accounting E1 Enterprise Operations P1 Performance Operations F1 Financial Operations Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements e.g.CIMA Certificate in Business Accounting - Strategic Level Professional Competence Award – Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Part A – Initial Professional Development – Assessment of Work Based Practical Experience Part B – Case Study Examination based on Preseen and Unseen Material Paper P3 Performance Strategy Paper E3 Enterprise Strategy Paper F3 Financial Strategy Management Level Award - CIMA Advanced Diploma in Management Accounting Paper E2 Enterprise Management Paper P2 Performance Management Paper F2 Financial Management Operational Level Award - CIMA Diploma in Management Accounting Paper E1 Enterprise Operations Paper P1 Performance Operations Paper F1 Financial Operations Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting) 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Key Syllabus Content • • • • • Change management Green issues Governance and ethics Tax Re-emphasis of: • Strategy and decision making • Risk management 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE T4 – Test of Professional Competence 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE The new T4 Professional Competence Level – T4 Test of Competence – Parts A and B T4 Test of Professional Competence in Management Accounting Part A – Initial Professional Development – Assessment of Practical Experience Part A success = 50 credits 2010 Syllabus Part B – Case Study Examination based on Preseen and Unseen Material Part B success = at least 25 credits (from a maximum of 50 credits) GFP Conference January 2017 FOCUSED ON11THE FUTURE Transition - Current to New Qualification 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Transition arrangements The 2010 Qualification The 2005 Qualification Strategic Level Professional Competence Award – Member of the Chartered Institute of Management Accountants Test of Professional Competence in Management Accounting Part A – Initial Professional Development – Assessment of Work Based Practical Experience Part B – Case Study Examination based on Preseen and Unseen Material Paper P3 Performance Strategy Paper E3 Enterprise Strategy Paper F3 Financial Strategy P10 P6 P3 P9 Management Level Award - CIMA Advanced Diploma in Management Accounting Paper E2 Enterprise Management Paper P2 Performance Management Paper F2 Financial Management Operational Level Award - CIMA Diploma in Management Accounting Paper E1 Enterprise Operations Paper P1 Performance Operations Paper F1 Financial Operations Enterprise Pillar Performance Pillar Financial Pillar Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting) P8 A P5 ‘one P2for one’ match P4 P1 P7 Key dates and deadlines In 2010: • 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 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Practical, onthe-job learning 2010 Syllabus “Accounting” Management skills, financial orientation Regulatory and compliance MBA programmes The CIMA Difference GFP Conference January 2017 FOCUSED ON11THE FUTURE CIMA Emphasis The The Accountancy Landscape Management Skills Decision Support Governance and Ethics Business Strategy CIMA Financial Accounting And Compliance Risk Management Narrative Reporting Management Accounting and Decision Making IFRS Tax Planning Sarbanes Oxley Treasury Policy Technical Skills 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Conclusion The Chartered Management Accounting Qualification 2010 • Evolution …. not revolution …. changes based on primary stakeholder feedback • Transition arrangements – simple • Maintains currency with business needs 2010 Syllabus GFP Conference January 2017 FOCUSED ON11THE FUTURE Transformation of the Finance Function Paul Gillot CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Agenda 1. CIMA ‘Improving Decision Making Forum’ 2. Finance transformation 3. Transformation enablers 4. Business partners 5. Conclusions CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 CIMA Forum CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 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 CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Why Decision Making is so important CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Agenda 1. CIMA ‘Improving Decision Making Forum’ 2.Finance transformation 3. Transformation enablers 4. Business partners 5. Conclusions CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Finance transformation CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Role of finance function is changing Business Partner Team Member Advocate Service Orientation Commentator Performance Evaluation Guardian Technically Competent Scorekeeper Transaction Based Time CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Need for new, broader skills set CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Agenda 1. CIMA ‘Improving Decision Making Forum’ 2. Finance transformation 3. Transformation enablers 4. Business partners 5. Conclusions CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Finance Cost Reduction 100% 50% Peer group Labour Outsourcing Worldclass Technology CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING Other GFP CONFERENCE 11 January 2017 The expanding role of SSCs Higher value Management Analysis & Reporting Transactional CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Raising the bar requires new skills Management ACMA Analysis & Reporting Advanced Diploma Transactional Diploma & Certificate in Mgt Accounting CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Agenda 1. CIMA ‘Improving Decision Making Forum’ 2. Finance transformation 3. Transformation enablers 4. Business partners 5. Conclusions CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Finance’s contribution to improving decision making • Frame decisions • Finance data discipline • Managing for value • Performance management • Risk management • Analytics CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Business partner material? CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 From back to front office CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Management Accountants’ roles in Business Intelligence • BI strategy and Business Case • Implementation • Data Quality • Performance management • Analytics CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Agenda 1. CIMA ‘Improving Decision Making Forum’ 2. Finance transformation 3. Transformation enablers 4. Business partners 5.Conclusions CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Conclusions • CIMA Syllabus • Career progression CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 CIMA Syllabus Covers how it was • • • • • Cash Liquidity Cost Budgets Forecasts But does more of the future • • • • • Performance management Risk management Scenario modelling Strategic options Business partnering CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Career Progression Practice / Consulting Outsourced Level: IT/ Tech support Accounts Finance Management Frontline Roles Director Executive Senior Manager Manager Staff Trainee CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017 Further Information Paul Gillot/Angela Copland The Chartered Institute of Management Accountants 26 Chapter Street London SW1P 4NP paul.gillot@cimaglobal.com angela.copland@cimaglobal.com CIMA IS THE INTERNATIONAL MARK OF EXCELLENCE IN MANAGEMENT ACCOUNTING GFP CONFERENCE 11 January 2017
