Changes in education for Finance professionals

The rapid changes in technology and the business world have also compelled CIMA to launch extensive global research to change their framework to adapt and equip finance professionals with the skills to meet current and future business needs.

The research revealed the need to develop an updated 2015 syllabus incorporating a competency framework that addresses the skills and competencies employers expect from their finance team, as well as new assessment processes.

Top employers identified not only core accounting and finance skills as crucial but also business acumen, people skills, and leadership skills. These insights were instrumental in creating a syllabus that ensures that the CIMA qualification remains relevant and meets the needs of students and employers. Besides supporting better business, this also enhances the employability of CIMA members.

New topic areas relevant to accounting in business - such as managing big data, finance function transformation, and sustainability - have been included, with integrated case studies added to consolidate learning and reflect real-life work situations. It has also strengthened existing modules to increase education in areas such as cost management and risk awareness.

Another consideration in putting together the new syllabus was looking into Generation Y. This younger generation learns differently and has different expectations from the workplace than previous generations. The findings resulted in a change in the way CIMA assess the competencies, taking advantage of improvements in technology, and reflecting the changes in the workplace.

CIMA is the first global accountancy body to pioneer a combination of computerized assessments to examine the syllabus. Each subject will be assessed not only by an objective test but also by an integrated case study, which combines the knowledge and learning across the three pillars at each level of the syllabus.

It’s clear that CIMA is committed to supporting the next generation of global finance leaders. The 2015 syllabus ensures that CIMA stays relevant to employers and aligns the learning experience of candidates more to the real world of business.

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