The Department of Finance and Banking has become an academic partner of the British CIMA Institute in the Master of Business Administration programs "Digital Banking and Finance" and "Business, Accounting and Law". Now graduates of accredited MBA programs are exempted from taking the P1 and P2 exams in Russian, which until 2020 were mandatory steps before passing the CIMA comprehensive situational exam.
CIMA (CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS) — the Institute of Chartered Management Accountants of the United Kingdom of Great Britain and Northern Ireland, has a rich history and currently occupies a leading position among professional international associations in the field of business management.
Cooperation between the Department of Finance and Banking of the RANEPA and CIMA began in December 2012 with the signing of a partnership agreement. Then the CIMA disciplines "Fundamentals of Financial Accounting" and "Fundamentals of Management Accounting" were integrated into the curricula for the preparation of bachelors. Preparation for international exams in English in independent certification centers was organized. Further cooperation between the DFB and CIMA led to the fact that in 2016 the parties entered into an agreement on the implementation of a unique master's program "Finance: International Accounting and Management Technologies" (the updated name is "Business and Financial Management Solutions") in the field of "Economics".
In 2021, the MBA programs “Digital Banking and Finance and “Business, Accounting and Law” successfully completed the CIMA accreditation process. The disciplines of the British Institute were integrated into the curricula of both programs.
Accredited MBA programs provide an accelerated path to international qualifications: candidates now need to successfully pass only one comprehensive business management situational exam, and they will become holders of Diplomas in Russian and English:
- CIMA Diploma "Business Management" in Russian
- CIMA Advanced Diploma in Performance Management in English
The Comprehensive Business Management Case Study tests the application of knowledge in practice. The candidate must demonstrate mastery of previously acquired knowledge, skills and methods, as well as their joint application to solve unstructured problems.
Candidates who successfully pass the exams confirm their professional competencies at the international level: evaluate opportunities to increase the value of a business, manage efficiency and costs, manage internal and external stakeholders.
CIMA and AICPA have jointly developed The Global Management Accounting Principles, which improve the decision-making system in an organization, adequately respond to risks, protect assets and increase its value to society.