Gulzari Babber, former CIMA president, speaks with SANGEETA YADAV about the recent collaboration with EXl and their revised syllabus
Tell us about the Chartered Institute of Management Accountant’s (CIMA’s) recent partnership with EXlIJ
The CIMA has awarded the training quality partner accreditation to EXl which will enable them to develop and retain the best finance skills available in the world. EXl who is committed to develop the right finance and business skills among its employees will get benefited from this partnership by getting world-class training through various new courses offered by CIMA.
Tell us about the revamped syllabus offered by this institute.
The syllabus is very dynamic and takes into account the skill set that employer’s need. There will be newaged costing techniques; integrated reporting that includes financial accounting, people's work performance and strategies. It will be a complete analysis of the CIMA student.
Integrated reporting has become a norm within the industry and we have give it due importance. The syllabus focuses on competency framework and transformation of finance function, complete day time to reporting, managing big data, strengthens area of cost management, leadership quality, risk management, etc.
Please elaborate on the format of the new syllabus.
There are three levels—operational, management and strategic level and three pillars namely, enterprise (that includes organisational management, project and relationship management and strategic management); performance (management accounting, advanced management accounting and risk management) and financial pillar (financial reporting and taxation, advanced financial reporting and financial strategy).
After completing these three levels, the students have to go for the final case study practical assessment called P4. Once they successfully complete the final case study, they receive membership along with ACMA and CGMA titles.
What is the USP of this instituteIJ
Sustainability factor has been the principle of CIMA throughout and that is the core aspect of our new syllabus. Another good thing about the new syllabus is that after every level, students will have to go through case study assessment. This ensures that the student is also learning how to practically apply all that he has learnt in the present scenario.
CIMA members get flexible working options, they can work in any field be it health, Government, MNC, etc. They can be CEOs, CFOs and can get listed in the board of directors too.
What kind of research has gone into conceptualising the new syllabusIJ
We change our syllabus every four to five years because we want to be relevant to the requirements of the employers. We decide upon the course material after carefully understanding industry requirements. We take valuable advise from experts on what all to include in the new syllabus and what the management accountant needs to deliverIJ The new syllabus takes effect from January 2015.
What’s the fee of the programme and it’s durationIJ
The overall fee of the programme comes near Rs 1,50,000. CIMA provides flexibility. The exams are 100 per cent computer based. When students register online, they get reading material and online tuition through video conferencing. There are offline tuition providers as well. When they are ready to give the test, they just go online and register for online exam.
How does a member ensures sustainability in the organisationIJ
They are accountable for producing good management reports, forecasting, reporting and other essentials that will help us in making core decisions. They will look at the results of last year and analyse with the present data. They’ll monitor the overall functioning and come up with flexible strategies for the company.