How CIMA certificate 'gives a very useful understanding of the business world'

Tuesday 28 July 2015

Why CIMA?

I am interested in developing my non-technical skills in the engineering profession with a long-term view to moving into business management. What makes CIMA interesting is that while it gives you a broad understanding of finance, its main focus is to provide a grounding for a career in business; teaching skills for strategic advice, managing risk and making key decisions.

How has the Certificate in Business Accounting advanced your career in engineering?

The course has given me an appreciation of design proposal implications on the overall cost of a project. A common pitfall for engineers is focusing too much attention on design and not enough on understanding the cost implications of their actions. Due to the tightening of budgets for infrastructure projects as a result of the economic downturn in the past few years, clients are becoming more and more financially focused. To continue to compete in these markets, companies need to be more savvy with project programmmes and budgets. My employer, Nicholas O’Dwyer Ltd., recognises that its staff need to have an appreciation of the business elements of projects and is keen to support staff by completing courses such as CIMA to develop these skills.

How did you find studying for the CIMA exams?

To complete any course while maintaining a full-time job can be a daunting task for most people. I opted to complete the CIMA certificate using the online study material, which allowed me the option of completing the course at my own pace. Although studying alone can sometimes mean that understanding elements of the course can take longer, I found the online support from course provider tutors very helpful. The key is to use your time wisely by having a realistic study timetable. I set myself a target of completing an exam every three months and completed the course within 12 months. I completed the bulk of course material over the winter months which now gives me time to enjoy the summer. What I really enjoyed about the course was that it covered a broad range of topics; using breakeven analysis to make business decisions, comprehending how financial accounts are prepared and used, understanding how business and government decisions affect the economy and learning how law and corporate governance places obligations on companies to act in certain ways.

Would you encourage other Engineer Ireland members to study the CIMA Certificate in Business Accounting?

Definitely. The CIMA Certificate gives a very useful understanding of the business world. It is inevitable at some stage of an engineer’s career that he/she will have exposure to non-engineering functions within his or her organisation and having the CIMA background will give them the ability to effectively communicate their business understanding and ideas.

Is CPD important to you?

CPD is becoming more important in today’s rapidly changing world due to technological advances in most industries. CPD allows you to keep pace with the latest standards set by other individuals in your field of work, keeping your knowledge up to date and relevant.

Would you consider pursuing the CIMA professional qualification?

Yes. I think that completing the CIMA qualification will open up further opportunities by providing me with skills to work in other industries.

Exclusive discount for Engineers Ireland members

CIMA Ireland has aligned for the delivery of the CIMA Certificate in Business Accounting to Engineers Ireland members. A fundamental grounding in business and finance is essential for all engineering professionals operating in today’s challenging business environment. The CIMA certificate is ideal for those new to the world of finance, providing an understanding of the uses of accounting information in planning, controlling and decision making. All Engineers Ireland members are exempt from one of the five modules – business mathematics (C03). Members with additional relevant qualifications may also be eligible for more exemptions. Click here to read what other Engineers Ireland members have to say about gaining their CIMA Certificate in Business Accounting. For further information please email cima.ireland@cimaglobal.com or phone 01-6430400. More information can also be found on our website at: www.cimaglobal.com/engineersireland Tuition for the certificate level commencing Wednesday, September 30.

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1 comments on article "How CIMA certificate 'gives a very useful understanding of the business world'"

Heinrich

29/08/2016 20:30

Hi. I came across this journal entry while trying to make a decision on my future studies, MBA vs CIMA. I am almost 90% sure I want to do CIMA, as my end goal is (as with the subject) to become a consultant in business management.

I see the date is almost a year ago, so would very much like to find out if the individual indeed did start his CIMA studies and how far he has come in his goals to become a business manager?

Warm regards

Heinrich