The Chartered Institute of Management
Accountants (CIMA) has opened its first office in Russia.

CIMA president Harold Baird said its first
representative office in the region was opened as a number of CIMA
employers have their largest operations in the country and “demand
for CIMA qualified business professionals in the region is

“It is an excellent time for CIMA to promote
the value of management accounting in this region. The Russian
government has made great progress in mitigating the effects of the
global economic downturn and although most countries still face
uncertainty over the next few years, Russia is poised to further
enhance its position as a global player in the business arena,”
Baird said.

CIMA did not have a presence in Russia or the
Commonwealth of Independent States (CIS) until 2010 as the
qualification had been promoted via the CIMA membership, tuition
providers and employers in the region. 

In 2010, CIMA launched the Diploma in
Performance Management in partnership with the PwC Academy to meet
the increasing demand for finance and non finance specialists in

CIMA said this was the first diploma to be
available in the Russian language focusing on management accounting
and was specifically developed to include topics such as budgeting,
cost control and investment appraisals. 

Currently more than 700 students have
registered for the diploma and this year, according to the
institute, 33 students graduated with pass rates higher than the
global average for these papers.