A collaborative venture between CIMA and Strathclyde Business School's Department of Accounting and Finance begun over five years ago has gone from strength to strength, with BAE Systems now heavily involved in a three-way partnership that brings benefits both to students in the Department, and to employers of the students.
Aware of the quality of students from Strathclyde, CIMA (Chartered Institute of Management Accountants) was keen to get involved with Strathclyde and Strathclyde was in turn keen to leverage this interest. The result of the initial talks between the two parties was the introduction by the Department of Accounting and Finance of business case studies written and developed by a number of companies. The companies, including Rolls Royce, Bank of Scotland and BAE Systems, also supplied senior accounting staff to participate in class discussions.
BAE Systems became heavily involved in the process and now, for the third year running, BVT Surface Fleets, a joint venture between BAE Systems and VT Group, has exclusively been involved with the students.
The students are now provided with a case study by BVT to prepare in advance of a site visit to BVT's premises, Scotstoun Shipyards, in conjunction with a large team of their accounting staff. Once on site, students are presented with additional information and given time to adjust their recommendations which they are then required to present to the board of eight senior finance staff.
As well as the case study work, the day involves a site tour, presentations about CIMA and BAE, lunch and networking. The case study work forms part of the class assessment and is integral to the class. Ian Thomson of Accounting and Finance, said, "This has proved very successful and CIMA are looking to replicate this with other key business schools in the UK. BAE regard it as highly effective and have become a regular recruiter of our accounting graduates.
"The exercise also prepares students for the graduate recruitment process and for future success in professional exams, with case study analysis forming an integral part of the CIMA qualification."
This year's site visit took place on October 30 and the case study for this year has been written by a former SBS student, Steven Brown, who got his position on the basis of his involvement with this very initiative. This year CIMA will have its new head of the UK division at Scotstoun to meet with the students and see first-hand what is involved.