2. THE CIMA CHARTERED
MANAGEMENT ACCOUNTING
QUALIFICATION 2005
What the CIMA professional
qualification looks like……in 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 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
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 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
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
FIN
AL
L
EVE
L
Paper 15
Case
Study
Paper 13
Financial
Strategy
Paper 12
Bus
Strategy
Paper 14
Inform
Strategy
EL
FINAL LEVEL
Paper 7
Financial
Reporting
Paper 9
MA Decis
Making
Paper 10
S&P
Manage
INT
ERM
EDI
ATE
LEV
Paper 4
Finance
Paper 5
Business
Taxation
Paper 6
Financial
Accounting
Paper 8
MA Perf
Manage
Paper 11
Organisat
Manage
FOU
NDA
T IO
NL
EVE
L
INTERMEDIATE LEVEL
Paper 3a
Econ
for Bus
Paper 1
Financial
Acc Fund
Paper 3c
Business
Mathematics
FOUNDATION LEVEL
Paper 2
MA
Fund
Paper 3b
Business
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
FIN
AL
L
EVE
L
Paper 15
Case
Study
Paper 13
Financial
Strategy
Paper 12
Bus
Strategy
Paper 14
Inform
Strategy
EL
FINAL LEVEL
Paper 7
Financial
Reporting
Paper 9
MA Decis
Making
Paper 10
S&P
Manage
INT
ERM
EDI
ATE
LEV
Paper 4
Finance
Paper 5
Business
Taxation
Paper 6
Financial
Accounting
Paper 8
MA Perf
Manage
Paper 11
Organisat
Manage
FOU
NDA
T IO
NL
EVE
L
INTERMEDIATE LEVEL
Paper 3a
Econ
for Bus
Paper 1
Financial
Acc Fund
Paper 3c
Business
Mathematics
FOUNDATION LEVEL
Paper 2
MA
Fund
Paper 3b
Business
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
Marginal Pass
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
9-10
professionally.
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
Ide
rel
lac
Some display of relevant
technical knowledge.
5
Kn
dis
ap
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
5
unclear.
A slightly limited range of
solutions considered.
Judgement occasionally
5
weak.
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 company’s 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 CEO’s 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 company’s 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 CIMA’s 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!