New Generation CIMA Qualifications

New Generation CIMA Qualifications

2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005 What the CIMA professional qualification looks likein 2005 Award - Member of the Chartered Institute of Management Accountants Strategic Level Test of Professional Competence in Management Accounting (TOPCIMA) Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level

Award - CIMA Advanced Diploma in Management Accounting Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar Paper P5 Integrated

Management Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting) Practical Experience Recorded as a Career Profile with record of skills development (RSD) Minimum of Three Years of Relevant Experience Prior experience can be included Award - Member of the Chartered Institute of Management Accountants Strategic Level Test of Professional Competence in Management Accounting (TOPCIMA) Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control

Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles

Business Management Pillar Management Accounting Pillar Financial Management Pillar Paper P5 Integrated Management Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting) Practical Experience Recorded as a Career Profile with record of skills development (RSD) Minimum of Three Years of Relevant Experience Prior experience can be included Key Design Features Separation of the Professional Chartered Management Accounting Qualification from

the CIMA Certificate in Business Accounting New entry requirements to the CIMA Professional Qualification A qualification structure that is easy to understand Three learning pillars separated into two levels - Managerial and Strategic Key Design Features An International curriculum Fewer examinations Complete flexibility as to how students can study for and sit the examinations for the six Managerial level subjects. (students can sit from 1 to 6 papers at each exam diet and in any order they wish) CIMA Advanced Diploma is awarded on successful completion of the Managerial level subjects

Key Design Features A new P10 - Test of Professional Competence Opportunity to submit the Career profile for assessment of practical experience following completion of the CIMA Advanced Diploma (subject to having minimum 3 years of relevant experience) Study Routes Strategic Level Managerial Level - Alternative A Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy

Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated Management Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar

Management Accounting Pillar Financial Management Pillar Study Routes Strategic Level Managerial Level - Alternative B Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated

Management Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar

Study Routes Strategic Level Managerial Level - Alternative C Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated Management Paper P2 Management Accounting Decision Management

Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar Study Routes Strategic Level Strategic Level - No Alternative Paper P6

Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated Management Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management

and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar Current CIMA 2000 Curriculum Paper 15 Case S tu d y Paper 13 F in a n c ia l S tra te g y Paper 12

Bus S tra te g y Paper 14 In fo rm S tra te g y F IN A L L E V E L Paper 4 F in a n c e Paper 5 B u s in e s s T a x a tio n Paper 7 F in a n c ia l R e p o r tin g Paper 9 M A D e c is M a k in g Paper 6 F in a n c ia l A c c o u n tin g Paper 10 S & P M anage Paper 8

M A P erf M anage Paper 11 O r g a n is a t M anage IN T E R M E D IA T E L E V E L Paper 3a Econ fo r B u s Paper 1 F in a n c ia l Acc Fund Paper 3c B u s in e s s M a th e m a tic s F O U N D A T IO N L E V E L Paper 2 M A Fund Paper 3b B u s in e s s Law Current CIMA 2000 Curriculum 4 Finance

(I) The finance function - 10% (ii) Sources of long term finance - 30% (iii) Sources of short term finance - 20% (iv) Working capital management - 40% Strategic Level New CIMA 2005 Curriculum Paper P6 Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated Management Paper P2 Management

Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar New CIMA 2005 Curriculum P7 Financial Accounting and Tax Principles

A. Principles of business taxation - 20% B. Principles of regulation of financial reporting- 10% C. Single company financial accounts 45% D. Managing short term finance - 25% New CIMA 2005 Curriculum P9 MA Financial Strategy A. Formulation of financial strategy - 20% B. Financial management - 30% C. Business valuations & acquisitions - 25% D. Investment decisions & project control 25% New location of current content P7 Financial Accounting and Tax Principles A. Principles of business taxation - 20% 4 Finance (I) The finance function - 10% (ii) Sources of long term finance 30% (iii) Sources of short term finance - 20% (iv) Working capital management 40% B. Principles of regulation of financial reporting- 10% C. Single company financial accounts 45% D. Managing short term finance - 25% New location of current content P9 MA Financial Strategy A. Formulation of financial strategy - 20% B. Financial management - 30%

4 Finance (I) The finance function - 10% (ii) Sources of long term finance 30% (iii) Sources of short term finance - 20% (iv) Working capital management 40% C. Business valuations & acquisitions 25% D. Investment decisions & project control - 25% Current CIMA 2000 Curriculum Paper 15 Case S tu d y Paper 13 F in a n c ia l S tra te g y Paper 12 Bus S tra te g y Paper 14 In fo rm S tra te g y F IN A L L E V E L Paper 4

F in a n c e Paper 5 B u s in e s s T a x a tio n Paper 7 F in a n c ia l R e p o r tin g Paper 9 M A D e c is M a k in g Paper 6 F in a n c ia l A c c o u n tin g Paper 10 S & P M anage Paper 8 M A P erf M anage Paper 11 O r g a n is a t M anage IN T E R M E D IA T E L E V E L Paper 3a

Econ fo r B u s Paper 1 F in a n c ia l Acc Fund Paper 3c B u s in e s s M a th e m a tic s F O U N D A T IO N L E V E L Paper 2 M A Fund Paper 3b B u s in e s s Law Current CIMA 2000 Curriculum 10 Systems & Project Management (I) Project management - 30% (ii) IT & systems - 35% (iii) Control of activities & resources - 10% (iv) Audit of activities & systems - 15% (v) Management of quality - 10% Strategic Level New CIMA 2005 Curriculum Paper P6

Management Accounting Business Strategy Paper P3 Management Accounting Risk and Control Strategy Paper P9 Management Accounting Financial Strategy Managerial Level Award - CIMA Advanced Diploma in Management Accounting Paper P5 Integrated Management Paper P2 Management Accounting Decision Management Paper P8 Financial Analysis Paper P4 Organisational Management

and Information Systems Paper P1 Management Accounting Performance Evaluation Paper P7 Financial Accounting and Tax Principles Business Management Pillar Management Accounting Pillar Financial Management Pillar New CIMA 2005 Curriculum P4 Organisational Management and Information Systems A. Information systems - 20% B. Change management - 10% C. Operations management - 20% D. Marketing - 20% E. Managing human capital - 30% New CIMA 2005 Curriculum P5 Integrated Management A. The basis of strategic management 30%

B. Project management - 40% C. The management of relationships - 30% New CIMA 2005 Curriculum P3 MA Risk & Control Strategy A. Management control systems - 15% B. Risk & internal control - 20% C. Review & audit of control systems - 15% D. Management of financial risk- 30% E. Risk & control in information systems 20% New location of current content P4 Organisational Management and Information Systems A. Information systems - 20% B. Change management - 10% 10 Systems & Project Management (I) Project management - 30% (ii) IT & systems - 35% (iii) Control of activities & resources - 10% (iv) Audit of activities & systems 15% (v) Management of quality - 10% C. Operations management - 20% D. Marketing - 20% E. Managing human capital - 30% New location of current content P5 Integrated Management A. The basis of strategic management 30% B. Project management - 40%

10 Systems & Project Management (I) Project management - 30% (ii) IT & systems - 35% (iii) Control of activities & resources - 10% (iv) Audit of activities & systems 15% (v) Management of quality - 10% C. The management of relationships 30% New location of current content P3 MA Risk & Control Strategy A. Management control systems - 15% B. Risk & internal control - 20% 10 Systems & Project Management (I) Project management - 30% (ii) IT & systems - 35% (iii) Control of activities & resources - 10% (iv) Audit of activities & systems 15% (v) Management of quality - 10% C. Review & audit of control systems 15% D. Management of financial risk- 30% E. Risk & control in information systems 20% New location of current content P3 MA Risk & Control Strategy A. Management control systems - 15% B. Risk & internal control - 20% 10 Systems & Project

Management (I) Project management - 30% (ii) IT & systems - 35% (iii) Control of activities & resources - 10% (iv) Audit of activities & systems 15% (v) Management of quality - 10% C. Review & audit of control systems 15% D. Management of financial risk- 30% E. Risk & control in information systems 20% P10 - TOPCIMA P10 is a Test of Professional Competence in Management Accounting Based on a Case Study There is no specific syllabus content material from any part of the syllabus could be potentially relevant when resolving the problem set P10 - TOPCIMA Is it similar to the current Paper 15 - MA Case Study? For students, the new P10 will involve much

the same assessment activity as the current Case Study P10 will operate in the same way as the current Case Study - publication of pre-seen material at least 6 weeks before the exam, requiring study and research to be undertaken by the student P10 - TOPCIMA Is it similar to the current Paper 15 - MA Case Study? Further unseen material will be provided in the examination, together with the requirements (question) P10 - TOPCIMA So what is different to the current Paper 15 - MA Case Study? Assessment Most significantly - more weight is attached to knowledge and its correct selection and

application when solving problems A new assessment matrix will be used that has a number of different assessment criteria TOPCIMA Assessment Matrix Criterion Technical Application Diversity Focus Prioritisation Judgement Integration Logic Ethics TOTAL Marks* 10 10

10 10 10 10 10 20 10 100 Clear Pass Pass Marginal Pass Thorough display of relevant technical knowledge. Good display of relevant knowledge. 9-10 Knowledge clearly applied in an analytical and

practical manner. 9-10 Most knowledge areas identified, covering a wide range of views. 9-10 Clearly distinguishes between relevant and irrelevant information. 9-10 Issues clearly prioritised in a logical order and based on a clear rationale. 9-10 Clearly recognises alternative solutions. Judgement exercised professionally. 9-10 Diverse areas of knowledge and skills integrated effectively. 9-10 Communication effective, recommendations realistic, concise and logical. 16-20 Excellent evaluation of ethical aspects. Clear and appropriate advice offered. 9-10 6-8

Knowledge applied to the context of the case. 6-8 Some knowledge areas identified, covering a range of views. 6-8 Information used is mostly relevant. 6-8 Issues prioritised with justification. 6-8 Alternative solutions or options considered. Some judgement exercised. 6-8 Diverse areas of knowledge and skills integrated. 6-8 Communication mainly clear and logical. Recommendations occasionally weak. 11-15 Good evaluation of ethical aspects. Some appropriate advice offered. 6-8 Some display of relevant technical knowledge. 5

Identification of some relevant knowledge, but not well applied. 5 A few knowledge areas identified, expressing a fairly limited scope. 5 Some relevant information ignored, or some less relevant information used. 5 Evidence of issues being listed in order of importance, but rationale unclear. 5 A slightly limited range of solutions considered. Judgement occasionally weak. 5 Knowledge areas and skills occasionally not integrated. 5 Communication occasionally unclear, and/or recommendations occasionally illogical. 10 Some evaluation of ethical aspects. Advice offered. 5

Marginal Fail Fail Clear Fail Identification of some relevant knowledge, but lacking in depth. 3-4 Knowledge occasionally displayed without clear application. 3-4 Several important knowledge aspects omitted. 3-4 Information used is sometimes irrelevant. Little knowledge displayed, or some misconceptions. 1-2 Little attempt to apply knowledge to the context. No evidence of knowledge displayed, or fundamental misconceptions. 0 No application of knowledge displayed.

1-2 Many important knowledge aspects omitted. Very few knowledge aspects considered. 3-4 Issues apparently in priority order, but without a logical justification or rationale. 3-4 A limited range of solutions considered. Judgement sometimes weak. 3-4 Knowledge areas and skills sometimes not integrated. 3-4 Communication sometimes weak. Some recommendations slightly unrealistic. 5-9 Weak evaluation of ethical aspects. Little advice offered. 3-4 1-2 Little ability to distinguish

between relevant and irrelevant information. 1-2 Little attempt at prioritisation or justification or rationale. 1-2 Few alternative solutions considered. Judgement often weak. 1-2 Knowledge areas and skills often not integrated. 1-2 Communication weak. Some unclear or illogical recommendations, or few recommendations. 1-4 Poor evaluation of ethical aspects. No advice offered. 1-2 0 0 No ability to distinguish between relevant and irrelevant information. 0 No attempt at prioritisation or justification. 0

No alternative solutions considered. Judgement weak or absent. 0 Knowledge areas and skills not integrated. 0 Very poor communication, and/or no recommendations offered. 0 No evaluation of ethical aspects. Unethical, or no, advice offered. 0 *Note The number of available marks allocated to each criterion will normally be as shown. CIMA January 2004 TOPCIMA Assessment Matrix Criterion Technical Application Diversity Focus Prioritisation Judgement

Integration Marks* 10 10 10 10 10 10 10 Clear Pass Pass Marginal Pass Thorough display of relevant technical knowledge. Good display of relevant knowledge. 9-10

Knowledge clearly applied in an analytical and practical manner. 9-10 Most knowledge areas identified, covering a wide range of views. 9-10 Clearly distinguishes between relevant and irrelevant information. 9-10 Issues clearly prioritised in a logical order and based on a clear rationale. 9-10 Clearly recognises alternative solutions. Judgement exercised professionally. 9-10 Diverse areas of knowledge and skills 6-8 Knowledge applied to the context of the case. 6-8 Some knowledge areas identified, covering a range of views. 6-8 Information used is mostly

relevant. 6-8 Issues prioritised with justification. 6-8 Alternative solutions or options considered. Some judgement exercised. 6-8 Diverse areas of knowledge and skills Some display of relevant technical knowledge. Ide rel lac 5 Identification of some relevant knowledge, but not well applied. Kn dis ap 5 A few knowledge areas identified, expressing a fairly limited scope. 5

Some relevant information ignored, or some less relevant information used. 5 Evidence of issues being listed in order of importance, but rationale unclear. 5 A slightly limited range of solutions considered. Judgement occasionally weak. 5 Knowledge areas and skills occasionally not integrated. Se kn om Inf so Iss pri log rat Al co so Kn

so TOPCIMA Assessment Matrix Example: Criteria - Technical have a sound technical knowledge of the specific subjects of the curriculum This rewards the knowledge itself TOPCIMA Assessment Matrix Example Criteria - Application can apply technical knowledge in an analytical and practical manner This is about the way in which the knowledge is used (or not!) TOPCIMA Assessment Matrix Example: Criteria - Focus

can solve a particular problem by distinguishing the relevant information from the irrelevant in a given body of knowledge This relates to the data processing from the scenario and exhibits to the answer P10 - TOPCIMA So what is different to the current Paper 15 - MA Case Study? It is a stand alone test (after the Strategic level) It is a pathway directly into membership for those who have previously had their practical experience assessed and approved Practical Experience Requirements - Have They Changed? The Career Profile will still be used to record experience

As part of our normal regular review, minor changes may be made to experience areas during the next 6 months, to widen scope A new section will be added to the Career profile - The Record of Skills Development (RSD) Practical Experience Requirements - Have They Changed? The RSD requires students/passed finalists to provide statements that document instances where behavioural skills have been demonstrated and developed through work experience The aim of including the RSD is to signal the importance that CIMA attaches to the development of such skills by future members Practical Experience Requirements - Have They Changed? The skill statements required in the RSD will fall within three headings:

personal skills interpersonal skills organisational skills Practical Experience Requirements - The RSD Skill Type Personal Skills Interpersonal Skills Organisational Skills Your Record 1. A new CEO in my company requested from me a full report on the companys risk control systems and areas for improvement, to be ready within one week. I had not been closely involved with this area before so to write the report I had to obtain background information from a project manager who had introduced our system. To avoid him feeling that his previous judgement was being questioned I carefully planned and phrased my questions. This ensured there was no emotional tension during our meetings. Also, the CEOs deadline meant that I had to work long hours - not only was there a lot to do but I wanted to impress the CEO with my business knowledge. By reorganising my schedule, I was able to minimise the stress of meeting the deadline and successfully delivered the report on time. My performance in this project demonstrated personal skills in handling potential conflict and stress. 1. One of my key responsibilities has been compiling the companys annual budget based on inputs from departmental managers throughout the organisation and budget committee discussions. When conducting this work I thought that certain managers did not seem to be taking the process seriously - they were slow in responding to requests for information and when reminded of what was outstanding were either off-hand or quite aggressive towards me. I approached these managers individually, explained my responsibility and tried to find out why they

did not think this work was important. Making this approach itself seemed to improve the relationships and I found out that they were suspicious of the budgeting process because it seemed their targets were adjusted regardless of their input. While I did not have the authority to alter the process, I did suggest to the head of my function that there was a communication gap which could be filled by explaining to managers the purposes of budgeting and how our process works. This suggestion was taken up. Dealing with the apparently disgruntled managers in this case, finding out the cause of the problem and suggesting a possible response to my head all required substantial interpersonal skills. 1. In order to conduct the analysis described in item 1 under Personal Skills above, I had to obtain a wide range of information both from appropriate documentation (of internal control systems) and from people within the organisation (to determine their relevant experience of operating the control procedures and to obtain their thoughts about potential shortcomings). This element of my work thus entailed considerable organisational skills in identifying the relevant sources of information and working with other personnel to achieve an organisational objective. I also found that this experience considerably increased my network of contacts within the organisation, which I have maintained and been able to use in other projects. The CIMA Certificate in Business Accounting - What is happening to it? The Certificate (formerly the Foundation level) has been separated from CIMAs Professional qualification It is now an entry requirement for the CIMA Professional Chartered Management Accounting Qualification The CIMA Certificate in Business

Accounting - What is happening to it? Other exempting qualifications can be used as an entry route into the CIMA Professional Chartered Management Accounting Qualification Lecturers conference 2004 Sponsored by CIMA Official Study Systems New editions fully support the new syllabus Key Dates and Deadlines May 2004 - exams under the current 2000 syllabus 31 July 2004 - last date for students to register with CIMA under the current syllabus 1 August 2004 - students transferred from current to new qualification - personalised statements of their transition arrangements (planned to be put on the web) November 2004 - last exams under the current 2000 syllabus Key Dates and Deadlines

January 2005 - exam results published for the last diet of exams based on the 2000 syllabus 1 February 2005 - students who sat the November 2004 exams have their personal transition arrangements updated May 2005 - First exams under the new 2005 Professional Qualification syllabus How Can You Keep Up To Date? Reading CIMA Insider The website cimaglobal.com/professionalqualifications Ask us!

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