CIMA vs FIC

If confused between these two sets of qualifications, this article will surely help track the right decision. These two certifications are the opposite in terms of skill sets. CIMA is about management accounting; FIC is a certification that covers fixed income securities in detail.

The UK-based body, the Chartered Institute of Management Accountants, offers the CIMA course to help management professionals develop their knowledge and expertise in management accountancy. The course consists of an excellent syllabus prepared by the industry professionals, which aids in providing the best training and qualification to accountants and ensures they attain mastery over the field-related subjects.

The course structure ensures the rudimentary fundamentals are cleared. The topics allow the students to have a good grounding and insight into the different areas of accounting and their relation to the business world. The CIMA body takes utmost care to ensure that the course design and qualifications offered are most relevant to the current times and trends of the industry. That is essential to ensure that every individual’s core talent is unleashed, helping them prosper in the right direction by accelerating their career in the business field.

The course is a knowledge refresher and a bridge to the CIMA professional qualification. CIMA-trained candidates can work in the commerce industry, management consultancies, banks, and not-for-profit and public sector organizations.

The Fixed Income Certificate (FIC)  is a certificate program by the ICMA (International Capital Market Association). It is an intricate qualification that can hone the practical skills of marketing professionals. The institute has offered this challenging qualification to market professionals for forty years. The institute aims to create professionals who can adapt to any market conditions and turn the tables around with extensive knowledge of practical trading, investment, and risk management skills.

The FIC program is rigorous and demands focus and hard work. While the program's syllabus covers a professional's existing knowledge about the fixed income markets, it also expands its scope and horizon beyond the superficial level giving in-depth expertise with the proper technical skills to allow the candidate to compete in the global marketplace.

The course is difficult and has varied fixed-income instruments and market topics. However, the institute constantly assesses every candidate's knowledge, examining scenarios to ensure each course participant is prepared with adequate knowledge and practical skills to execute day-to-day business activities with great efficiency in their respective jobs.

Let us understand the difference between CIMA vs. FIC with infographics.

• CIMA has a better global presence due to tie-ups with commonwealth countries. And therefore, traditionally, it is known that employers understand the value of a CIMA-certified person who has an edge amongst his peers due to his experience, knowledge, skills, and professional commitment.
• The course structure of the CIMA program is designed to ensure that the candidates are not only equipped with financial education but also receive training and practice that may enrich their skills in business management, making them capable of advising on business strategy and risk management.
• Finally, CIMA is a great approach to better job prospects as it gives a boost to earning potential while preparing for roles in the business and finance sectors.
• CIMA's eligibility criterion is flexible and allows a wide range of professionals to give the exam, creating wider job opportunities.

The FIC certificate is an add-on advantage for working in client or market-facing fixed-income positions within a bank or fund management company. It enriches their knowledge about the fixed income markets and range of credit products.

The course allows the candidate to be updated with the current best market practice and regulatory considerations for fixed income and derivative markets.

• The FIC program gives the students a full six months' study time, which primarily helps in studying and absorbing the material provided, and is thoroughly prepared for the examination.
• The FIC course provides training and ensures that all students are on par from the beginning. Therefore, it allows access to the FIC online campus to help the students prepare for classroom-based teaching.
• The online campus enables a series of sample exam questions and videos to help candidates monitor their progress from the start.
• The FIC program combines theory classes with much practical work based on the concepts taught in the training sessions. Thus, the combination of theory and practice is an excellent method to examine whether a student has understood the material and can implement new acquisitions.
• The FIC program attracts students from various professional backgrounds providing an extremely interesting diaspora and international atmosphere to thrive in and learn.
• The FIC Program is enlisted in the UK's Financial Skills Partnership (FSP) qualifications list for 'Advising on securities and derivatives in the wholesale marketplace.' Thus, the qualification is widely recognized and will provide an edge to professionals in the job market.
• For those candidates aiming for a CFA in the future, the FIC program can help qualify them for 30 credit hours on non-marketplace lines of the CFA Institute's Continuing Education Programme.

The candidates must not do what others advise them. Instead, make decisions based on their likes, preferences, and career path, and they will never regret a decision taken themselves.

This article has been a guide to CIMA vs. FIC. Here, we have discussed the top differences between CIMA and FIC with infographics and a comparative table for exam requirements. You may also have a look at the following articles: -

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