Membership of the Chartered Institute of Management Accountants (CIMA) grew by 5% to 95,925 qualified members in 2013, up from 91,430 in 2012, the accountancy body has reported.

Approximately 73% of the total membership, 69,696 qualified management accountants, registered in the UK, while the rest of the 26,229 members were based abroad. CIMA said it achieved growth both in new and emerging countries, reporting a 40% increase of its membership in China.

According to CIMA managing director Andrew Harding the joint venture with the American Institute of Certified Public Accountants (AICPA) continued to gain momentum, due to the endorsement of their Chartered Global Management Accountant (CGMA) designation by employers.

In January 2012 CIMA and AICPA launched the CGMA joint designation aimed at producing a global qualification for management accounting.

A year on from the launch of the designation, CIMA chief executive Charles Tilley told The Accountant that 38,000 AICPA members applied for the CGMA designation; while all CIMA’s qualified members were already using it.

"The importance of the designation is emphasised by a population of over 130,000 CGMA professionals who are shaping the strategic direction of organisations ranging from start-ups to global giants," Harding said commenting on the 2013 results.

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In 2013 CIMA student membership grew by 9% to 122,114 students, of which less than half, 43%, were in the UK. CIMA said Malaysia, India, Russia and South Africa saw record numbers of new students.

"It was particularly pleasing to see an increase in students in a number of emerging markets which will become future economic powerhouses," Harding noted.

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The Chartered Institute of Management Accountants