UK body of accountancy looks for tie ups with commerce colleges

Chartered Institute of Management Accounts (CIMA), a UK-based independent body specialising in management accountancy, is looking at partnering with leading commerce colleges in Chennai, Mumbai and New Delhi to conduct tuition classes for its CIMA Professional Qualification programme.

At present, CIMA is conducting only the exams, which is conducted twice a year through British Council and some colleges in six locations in India. About 700 people from India are in the process of obtaining CIMA Professional Qualification. Of the 700, about 60 per cent are professionally qualified.

Swati Ghangurde, representative, India Liaison Office, CIMA, told Business Standard that the institute was looking at creating campuses in India to offer coaching at foundation level as also at management level. The company would start with three cities - Chennai, Mumbai and New Delhi - by partnering with top commerce colleges in these metros.

She said that the CIMA had identified a number of colleges in these locations and would finalise the partnership agreements by the end of this year. "This would be based on certain criteria by which we would assess their training abilities and delivery capabilities, so that the outcome meets our expectations," she added.

Ghangurde also pointed out that CIMA's commercial relevance of syllabus is regularly updated to reflect the latest developments in business. CIMA members and students work across all business sectors at all levels throughout the world, demonstrating the flexibility of the qualification, she added.

"Today's marketplace demands a qualification that is desirable by employers. CIMA-qualified people bring more than basic accounting skills to the table. The aim is to provide benefits to help secure the ever-greater employability of the members," she added.

In India, CIMA is working with five companies to train their staff and expects to work with more companies in the near future.

The fee for CIMA Professional Qualification is about Rs 80,000, payable in installments. The course includes three major levels of learning - management accounting, business management and financial management.

CIMA offers a variety of study methods and a student will have options to attend full-time, part-time, evening classes or weekend classes, apart from distance learning or home study programmes.

Ghangurde also said that CIMA Professional Qualification programme offered a flexible entry policy. Nearly half of CIMA's graduate students had previously studied non-relevant degree subjects.

"CIMA isn't just a membership organisation. They share a unique long term relationship with the students from the outset, which is rewarding. Once qualified, the students progress to become CIMA members. As members, one can train and recruit CIMA students or fellow members for roles within one's own organisations," said Ghangurde.

CIMA comprises 85,000 students and 65,000 members in 158 countries and about 99 per cent of CIMA members and students are reported to be in business works and not in accountancy practices.