CIMA Performance pillar

CIMA Performance pillar

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.^[1] CIMA is also a member of the International Federation of Accountants.

CIMA Performance pillar

CIMA Chartered Management Accounting Qualification

01 Structure of the CIMA qualification

02 Syllabus guidance

03 The full syllabus – operational level

04 The full syllabus – management level

05 The full syllabus – strategic level

06 The full syllabus – Test of Professional Competence in Management Accounting

07 The examination timetable

08 The transition arrangements for students

09 Programme design and the International Education Standards

CIMA Performance pillar

Strategic case study exam

The focus of Strategic level is on the long term and setting the strategy for the business. In the Strategic Case Study exam, your role will be that of a Senior Finance Manager.

E3 Strategic  Management

Covers:

• Interacting with the organisation’s environment20%
• Evaluating strategic position and strategic options30%
• Leading change20%
• Implementing strategy15%
• The role of information systems in organisational strategy15%

You will learn how to:

• Develop the skills and abilities needed by strategic leaders to direct and achieve the long-term success of their organisations
• Formulate and implement strategy
• Successfully lead and manage change

P3 Risk Management

Covers:

• Identification, classification and evaluation of risk20%
• Responses to strategic risk20%
• Internal controls to manage risk20%
• Managing risks associated with cash flows20%
• Managing risks associated with capital investment decisions20%

You will learn how to:

• Identify, evaluate and respond to risks that could impact on the implementation of strategy
• Develop the competencies required to analyse and apply the techniques, processes and internal control systems required to manage risk
• Manage risks associated with both cash flows and capital investment decisions

F3 Financial Strategy

Covers:

• Formulation of financial strategy25%
• Financing and dividend decisions35%
• Corporate finance40%

You will learn how to:

• Formulate and implement financial strategy to support the overall strategy of the organisation
• Develop skills to evaluate and recommend alternative sources of finance
• Develop competencies required to value investment opportunities including divestments, mergers and acquisitions

CIMA Performance pillar

MANAGEMENT LEVEL

Management case study exam 

The focus of Management level is on the medium term and monitoring and implementation of strategy. In the Management/Gateway Case Study exam, your role will be that of a Finance Manager.

E2 Project and Relationship Management

Covers:

• Introduction to strategic management and assessing the global environment30%
• The human aspects of the organisation20%
• Managing relationships20%
• Managing change through projects30%

You will learn how to:

• Develop a holistic approach to managing organisations from external and internal perspectives
• Implement organisational strategy through people, projects, processes and relationships.

P2 Advanced Management Accounting

Covers:

• Cost planning and analysis for competitive advantage25%
• Control and performance management of responsibility centres30%
• Long-term decision making30%
• Management control and risk15%

You will learn how to:

• Analyse, plan and manage costs to support the implementation of the organisation’s strategy
• Manage and control the performance of business units within the organisation in line with short-term budgets and long-term strategy
• Make investment decisions, taking into account the risks related with such decisions

F2 Advanced Financial Reporting

Covers:

• Sources of long-term finance15%
• Financial reporting60%
• Analysis of financial performance and position25%

You will learn how to:

• Source long-term finance
• Produce and analyse complex aspects of group accounting
• Use analysis of financial statements to provide insights about the performance of the business over time

CIMA Performance pillar

OPERATIONAL LEVEL

Operational case study exam

The focus of Operational level is on the short term. In the Operational Case Study exam, your role will be that of a Finance Officer.

E1 Organisational Management

Covers:

• Introduction to organisations25%
• Managing the finance function15%
• Managing technology and information15%
• Operations management15%
• Marketing15%
• Managing human resources15%

You will learn how to:

• Analyse issues and events in the global business environment
• Develop an understanding of the structure and principles sustaining the operational functions of the organisation
• Align and mobilise all its parts to implement strategy

P1 Management Accounting

Covers:

• Cost accounting systems30%
• Budgeting25%
• Short-term decision making30%
• Dealing with risk and uncertainty15%

You will learn how to:

• Use budgeting as a means of short-term planning to implement the strategy of the organisation
• Analyse information of costs, volumes and prices to take short-term decisions on products and services
• Appreciate the impact of risk to these decisions.

F1 Financial Reporting and Taxation

Covers:

• Regulatory environment for financial reporting and corporate governance10%
• Financial accounting and reporting45%
• Management of working capital, cash and sources of short-term finance20%
• Fundamentals of business taxation25%

You will learn how to:

• Produce financial statements for both individual entities and groups with reference to international financial reporting standards
• Manage cash and working capital within the business
• Understand and apply basic principles of business taxation

CIMA Performance pillar

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 Performance pillar