Finance Certification
- CIMA Exam
- CFA Exam (23+)
- FRM Exam (11+)
- PRM Exam (3+)
- CPA Exam (10+)
- ICAI Exam (5+)
- CFP Exam (11+)
- ACA and ACCA (7+)
- CIPM Exam (3+)
- CAIA Exam (3+)
- CFA Investment Foundation Exam (2+)
- CMA Exam (3+)
- BMC Exam (2+)
- CFT Exam (2+)
- NCFM Exam (4+)
- Miscellaneous (4+)
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CIMA vs CIPM – Which is Better? Choosing between CIMA and CIPM should not be very difficult. CIMA is all about learning best practices in Management Accountancy. However, CIPM certification provides in-depth knowledge of portfolio performance measurement. In this article, we explore the parameters on the basis of which you may choose either of the two.
The article is organized as per below –
- CIMA vs CIPM Infographics
- What is CIMA?
- What is CIPM?
- CIMA vs CIPM Entry Requirements
- Why pursue CIMA?
- Why pursue CIPM?
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CIMA vs CIPM Infographics
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Lets understand the difference between these two streams with the help of this CIMA vs CIPM Infographics.
CIMA vs CIPM Summary
| Section | CIMA | CIPM |
|---|---|---|
| Certification Organised By | CIMA Certification Program is offered by CIMA (Chartered Institute of Management Accountants) | CIPM is organized by CFA Institute |
| Number of Levels | CIMA exam structure for fundamental level is quite simple but CIMA professional level exams are divided into three learning pillars including enterprise, performance and financial. Each of these pillars is further divided into three progressive levels including operational, management and strategic. This results in 9 professional level exams with 3 exams at each level. | CIMA has 4-levels of exams including: CIMA Certificate Level exams include five computer-based on-demand objective assessment tests with duration of 2 hours CIMA professional level exams include three 90-minute computer-based on-demand objective tests at each of the operational, management and strategic levels. At each of these levels, a 3-hour long case study has to be undertaken in order to qualify for the next level. CIMA Certificate Level exam Paper C01: 50 Compulsory Questions Paper C02: 50 Compulsory Questions Paper C03: 45 Compulsory Questions Paper C04: 75 Compulsory Questions Paper C05: 75 Compulsory Questions CIMA Operational Level exams Paper E1 Paper P1 Paper F1 CIMA Management Level exams Paper E2 Paper P2 Paper F2 CIMA Strategic Level exams Paper E3 Paper P3 Paper F3 CIPM: There are two exam levels in CIPM: 100 multiple choice questions CIPM Principles Exam and CIPM Expert Exam: 80 item set questions |
| Exam Window | There are four windows a year when you can sit the case study exams (February, May, August and November). Febrauary 2017 Operational Level Exam Date:- 7th - 11th February 2017 Management Level Exam Date:- 14th - 18th February 2017 Strategic Level Exam Date:- 21st - 25th February 2017 May 2017 Operational Level Exam Date:- 9th - 13th May 2017 Management Level Exam Date:- 16th - 20th May 2017 Strategic Level Exam Date:- 23rd - 27th May 2017 August 2017 Operational Level Exam Date:- 8th - 12th August 2017 Management Level Exam Date:- 15th - 219h August 2017 Strategic Level Exam Date:- 22nd - 26th August 2017 November 2017 Operational Level Exam Date:- 7th - 11th November 2017 Management Level Exam Date:- 14th - 18th November 2017 Strategic Level Exam Date:- 21st - 25th November 2017 | CIPM Exam Dates 2017: March 2017: 16 Mar – 31 Mar September 2017: 16 Sep – 30 Sep |
| Subjects | CIMA: CIMA Certificate Level Fundamentals of Management Accounting Fundamentals of Financial Accounting Fundamentals of Business Mathematics Fundamentals of Business Economics Fundamentals of Ethics, Corporate Governance and Business Law CIMA Operational Level Organisational Management (E1) Management Accounting (P1) Financial Reporting and Taxation (F1) Operational Case Study Exam CIMA Management Level Project and Relationship Management (E2) Advanced Management Accounting (P2) Advanced Financial Reporting (F2) Management Case Study Exam CIMA Strategic Level Strategic Management (E3) Risk Management (P3) Financial Strategy (F3) Strategic Case Study Exam | CIPM: Major topic areas for both levels include: Performance Measurement Performance Attribution Performance Appraisal and Manager Selection Ethical Standards Performance Presentation and GIPS Standards |
| Pass percentage | CIMA November 2016 case study results: Operational:- 67% Management:- 71% Strategic:- 65% | CIPM Exam Results. September 2016 exam results Principles exam results pass rate: 42% Expert exam results pass rate: 52% |
| Fees | The examination fee varies as per their tire pricing structure Divided into 3 Tire 1, Tire 2 and Tire 3. The link below can help you with the required information on fee structure as per your tire area. http://bit.ly/2oDDlef | First-time candidate early registration US$575 1 April – 31 May First-time candidate standard registration US$975 1 June – 31 July Returning candidate registration US$500 1 April – 31 July |
| Job opportunities/job titles | CIMA: After completing CIMA certification program, professionals can opt for management-oriented roles in diverse industry verticals, some of the job roles include: Management Accountant Finance Manager Financial Analyst Internal Audit Manager | CIPM designation can help professionals explore a number of finance-related areas as investment performance analysis finds application in diverse industry verticals. On completing CIPM, one could be monitoring institutional investorsperformance for investment consulting firms, involved in GIPS verification practice as an analyst or working in a core performance analysis profile. Some of the potential employers could include: Investment firms (for their compliance, portfolio accounting, marketing,IT and other departments) Investment banks Investment management and research firms GIPS verification firms Performance measurement software development companies |
What is CIMA?
This designation is awarded by UK-based Chartered Institute of Management Accountants (CIMA) is a global body dedicated to promoting industry best practices in management accountancy. CIMA certification is a 4-tier program which helps acquire in-depth knowledge of management accountancy and focuses on business management skills like few other accountancy credentials. This widens the scope of knowledge and skills acquired through this accreditation and makes it possible for professionals to opt for management a oriented roles as well.
What is CIPM?
Certificate in Investment Performance Measurement (CIPM) is offered by CFA Institute to help professionals acquire an in-depth understabding of investment performance evaluation related concepts and functionalities. The credential also introduces participants to global ethics and professional standards in the field to be able to meet Global Investment Performance Standards (GIPS) requirements. After earning this credential, a number of global work opportunities can be explored in varied finance domains.
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CIPM vs CIMA Entry Requirements
There are no special entry requirements for CIMA Certificate in Business Accounting. It is a foundations level certification which doesn’t require good knowledge of accounting as a perquisite. However, one should be good in English and have a keen interest in mathematics to be able to earn this certification.
CIMA
CIMA professional-level qualifications are divided into operational, management and strategic level studies. To pursue CIMA Operational Level studies, professionals need basic level of proficiency in accounting or business studies. This requirement can be met if the candidate holds any one of these qualifications:
- CIMA Certificate in Business Accounting
- Masters in Accounting or MBA
- Membership of ICWAI, ICMAP or ICMAB
- Membership of an IFAC body
Any relevant qualification to get exemption from the CIMA Certificate in Business Accounting
To pursue Management Level studies, one should have successfully completed CIMA Operational Level studies as well as Operational Case Study.
To pursue Strategic Level studies, one should have completed both operational and management level studies successfully along with their respective case studies.
CIPM
There are no prerequisites for CIPM exam except for abiding by the CIPM Association Code of Ethics and Standards of Professional Conduct. Participants are required to sign a Candidate Professional Conduct Statement as part of the exam registration to ensure that they meet the ethics requirements and uphold the integrity of the certification program to the best of their abilities.
Why Pursue CIMA?
This certification program offers greater breadth of exposure to concepts of management accountancy and prepares students and professionals for diverse roles and responsibilities in the field. CIMA Certificate in Business Accounting is an entry-level credential which introduces students to basics of management accounting and related areas. The next three levels of CIMA are meant for beginner, middle and expert level professionals to help enhance their skills and capabilities along with adding greater credibility to their profile in the eyes of prospective employers. A growing number of leading employers trust accredited professionals more as compared to their non-accredited counterparts.
Why Pursue CIPM?
This credential is intended to impart knowledge of investment performance measurement concepts and to prepare professionals present relevant data in easy-to-understand terms to investors. It covers some complex knowledge areas including performance attribution and appraisal as well along with helping participants develop an understanding of industry-approved ethics and professional standards. This would be necessary for professionals to efficiently meet GIPS requirements while operating in the industry. It naturally builds greater trust in the eyes of prospective employers as well and opens up global opportunities in the field.
Conclusion
As a globally acknowledged accreditation, CIMA offers the opportunity to develop management skills from an accounting perspective which sets it apart from other certifications. Those who are willing to explore the broader field of management accountancy and prepare for roles requiring advanced accounting capabilities with an incisive business insight can look to complete the highest tier of CIMA.
On the other hand, CIPM is meant for finance professionals looking to explore the complex area of investment performance evaluation and presenting it in a way which accurately and conveniently conveys this information to investors. This is a highly specialized area which can be suitable for professionals willing to work in a role related to GIPS verification practices, conducting performance evaluation for institutional investors and firms.
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Thanks for sharing. I think you must be having great knowledge related to both these fields. This was really very useful. Great work. So I also wanted to ask one question. Is work experience required for students to earn membership of CIMA?
Thanks for your kind words. Students must provide at least 3 years relevant professional work experience after completion of 3 levels to earn membership of CIMA
Good to see such informative article. Thanks for giving brief explanation about both these certifications. Could you please share me the CIPM Exam details if you have them?
Thank you so much. Well for CIPM Exam details you can refer to this Guide to CFA CIPM Exam