• Format of exam
  The assessment for fundamentals of Business Economics (C04) is a two hour computer based exam consisting of 75 compulsory questions, each with one more parts.
  A variety of objective test question styles and types will be used within the assessment, such as:
  Multiple choice, true/ false question, matching pairs of texts and graphic, sequencing and ranking, labelling diagrams and single and multiple numeric entry.
• Core areas of the syllabus
  The syllabus comprises of
• Ethics and business                                                                               15%
• Ethical conflict                                                                                       10%
• Corporate governance                                                                          10%
• Comparison of English Law with alternative Legal Systems           10%
•  The law of contract                                                                              20%
• The law of employment                                                                        10%
• Company administration and finance                                                 25%

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

Professional Qualification exams

Objective Tests

On-demand, computer based assessments available all year.

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

Case Study exams

There are four windows a year when you can sit the case study exams (February; May; August; and November). Within each window exams will be available for five days from Tuesday to Saturday.

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

The Chartered Institute of Management Accountants (CIMA) is a UK based professional body offering training and qualification in management accountancy and related subjects. It is focused on accountants working in industry, and provides ongoing support and training for members.

CIMA is one of the professional associations for accountants in the UK and Ireland. Its particular emphasis is on developing the management accounting profession. CIMA is the largest management accounting body in the world with more than 227,000 members and students in 179 countries. CIMA is also a member of the International Federation of Accountants.

CIMA operates a standard scheme of qualifying examinations for prospective members. It promotes local education, training and management development operations, and new techniques through its research foundation and the dissemination of management accounting practices through publications and other media related activities. CIMA has been active in recent educational and vocational initiatives in former Eastern bloc countries. It publishes a monthly journal, supplied free to members and registered students, called ‘Financial Management’.

CIMA is recognised as a professional accounting body for various statutory purposes by UK and various overseas governments. The institute regulates the activities of its members by a code of practice, a discipline committee and (a recent innovation) a continuing education scheme. Its governing body is its council, comprising members elected from regional branches. Each of the branches has a committee and is responsible for much of the ‘grass roots’ activity. Activity such as qualification development is undertaken from the London head office.

The CIMA Global Business Challenge, an annual international business and strategic management competition for undergraduates around the world, is designed to bring out the best in the young business leaders of tomorrow.

In July 2009, CIMA added an online community – CIMAsphere – to its website. The community consisted of a range of blogs, discussion boards, groups, community answers, expert Q&A sessions and some social networking features for members, students and the general public. This has since been shut down. Members are instead encouraged to join the CIMA LinkedIn group, and students are directed to CIMAconnect, an online study support portal.

In 2011, CIMA entered into a joint venture with the American Institute of Certified Public Accountants (AICPA) to launch a global management accounting designation called the Chartered Global Management Accountant (CGMA).In the Americas outside the U.S., non-U.S. CPAs can obtain the new designation as an AICPA International Associate, after a rigorous assessment process. In the rest of the world, new designation holders are able to become members of CIMA after the same assessment process.

CIMA is proactive to tie up with American CPA because of the current convergence trend between US-GAAP and IFRS, reinforced following the merger of the iconic New York Stock Exchange with Germany’s Deutsche Boerse AG. “It remains to be seen whether companies listed in a combined exchange would be required to report under IFRS, US GAAP or both, but as the US appears to be moving towards IFRS adoption it is more likely the international standards would be the accounting rules of choice”.

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

Operational and management level

Within each learning pillar, students are advised to sit and pass the operational level subject examination before sitting the management level subject. However, examinations from different learning pillars, at either operational or management level, may be sat concurrently. Students are recommended to sit no more than three examinations at any single diet, in order to optimise the probability of success

The pass mark for each of the operational and management level subject examinations is 50% and permanent credit is awarded for any paper in which the candidate scores 50% or more.

On successful completion of all operational level subjects, students are awarded the CIMA Diploma in Management Accounting.

On successful completion of all management level subjects, students are awarded the CIMA Advanced Diploma in Management Accounting.

Strategic level

When attempting the strategic level subjects, students must sit all three examination papers (one from each learning pillar – Papers E3, P3 and F3) together at the first sitting. At any subsequent examination attempts, these papers may be taken in any order and combination.

The pass mark for each of the strategic level subject examinations is 50% and permanent credit is awarded for any paper in which the candidate scores 50% or more.

Students must pass all three strategic level subject examinations before attempting the Test of Professional Competence in Management Accounting

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment

Recommended read 

• Complete details of CIMA Syllabus and Subjects
• Complete details of CIMA Study plan
  
• CIMA Exam related Free notes complete details
• CIMA Exam Study material, Practice manual complete details

CIMA C05 Fundamentals of Ethics Corporate Governance and Business Law The law of employment