CIMA, was formed in March 1919, as the Institute of Cost and Works Accountant, buy a CIMA certificate, by a group of legal professionals and businessmen who wanted to develop an approach to accounting that would meet the demands of a rapidly changing business world. Industrialisation had led to large scale, complex businesses providing unprecedented challenges in management. Employers needed a new form of in-house accountant to provide, in addition to accounts, better analysis of cost and of operations to inform performance management.
The new institute soon gained the backing of leading industrialists including, order fake CIMA diplomas, buy fake accountant certificate, Lord Leverhulme who became its president. Advances in technology and globalisation made business ever more complex over the 20th century and the role of the accountant in business became more significant. It expanded to include provision of a wider range of information and the emphasis shifted from accounting to management.
The status of management accounting as a distinct branch of the accounting profession was recognised by the granting of a Royal Charter in 1975.
