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CIMA Strategic level Identification classification and evaluation of risk


CIMA Strategic level Identification classification and evaluation of risk

CIMA Strategic level Identification classification and evaluation of risk: Identification of Risks

Strategic level

Strategic level is the third and final level of the CIMA Professional Qualification and consists of three subject areas.

The technical content at the Strategic level

The Strategic level concentrates on making strategic decisions and providing the context for which those decisions will be implemented. Its focus is the long-term.

E3 Strategic Management

Covers:You will learn how to:
  1. Interacting with the organisation’s environment
  2. Evaluating strategic position and strategic options
  3. Leading change
  4. Implementing strategy
  5. The role of information systems in organisational strategy
  1. Develop the skills and abilities needed by strategic leaders to direct and achieve the long-term success of their organisations
  2. Formulate and implement strategy
  3. Successfully lead and manage change

 

Covers:You will learn how to:
  1. Identification, classification and evaluation of risk
  2. Responses to strategic risk
  3. Internal controls to manage risk
  4. Managing risks associated with cash flows
  5. Capital investment decisions

 

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

 

Covers:You will learn how to:
  1. Formulation of financial strategy
  2. Financing and dividend decisions
  3. Corporate finance
  1. Formulate and implement financial strategy to support the overall strategy of the organisation
  2. Develop skills to evaluate and recommend alternative sources of finance
  3. Develop competencies required to value investment opportunities including divestments, mergers and acquisitions

CIMA Strategic level Identification classification and evaluation of risk

CIMA Strategic level Identification classification and evaluation of risk: 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 Strategic level Identification classification and evaluation of risk

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