Derek Coyle, ACMA, CGMA

Derek Coyle has recently been elected to CIMA membership. He said that the CIMA qualification has helped him further his career from the moment he became a member, and believes it will open doors for him in the future, to a variety of different areas, not just accountancy. Take a look at Derek's Q&A.

Tell us a bit about your role?

My role involves tracking and reporting the Group’s costs on a monthly basis. Through this, I provide management information and variance analysis to senior management on a monthly basis. I track costs within each division within the group and identify savings achieved against plan, and ensure these are accurately reported.

What has been your biggest career achievement to date? 

Qualifying as a Chartered Management Accountant and being promoted as a result soon after. It really showed the value of having this qualification.

Why did you choose CIMA as your professional qualification?

CIMA was more interesting to me. I have an analytical mind, so I like to access and evaluate the numbers more so, than just reporting them, which I felt was more of what CIMA focused on.

What skills have you gained through studying CIMA and how have they contributed to your role?

I have gained the ability to access performance of my organisation and provide commentary on the results. I have learned to calculate and understand financial ratios and how they can be important to external investors. I have learned business and people skills, that have enabled me to get my job done more efficiently.

How has CIMA membership and the CGMA designation contributed to your professional career?

It enhanced my career straight away after qualifying, by helping me achieve a promotion. It can open a lot of doors for me in the future, in a variety of areas.

How do you see CPD as being of value to you in keeping your qualification relevant to the constantly changing business environment?

CPD will keep me up to date and knowledgeable on any new information or changes that may take place in the industry.

How did you balance work and study? 

It requires sacrifice. I used to assign either morning time before work, or evening time after work, to study, when I was studying for an exam. Is it hard at first but routine kicked in, which helped. Thankfully my employer was flexible, which allowed me to get my study done as planned.  

What advice would give to anyone thinking of studying the CIMA qualification?

The CIMA qualification has great benefits but it also requires great commitment, especially while working and studying simultaneously. The best advice I can give is, to weigh up the pros and cons, and consider whether this is something you are sure will be worth the commitment for you.   

Can you tell us the value the CIMA qualification has added to your career?

The CIMA qualification helped me advance my career from the moment I got it and will open doors for me in the future to a variety of different areas, not just accountancy.

Publication: May 13 2021