The Chartered Management Accounting
Qualification 2010
Presented by:
Dr (Hon) Robert G. Jelly,
Director of Education, CIMA
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Overview
 Evolution not revolution – changes made
where necessary – primary stakeholder
feedback + extensive benchmarking
 Further enhances differentiation
 Meets stakeholder needs in a balanced way
 A “new TOPCIMA” linking the Case Study to
PER – with the full support of the
Membership Board
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Overview
 4 levels – Operational; Management;
Strategic; and Professional Competence
 A new CIMA Diploma in Management
Accounting – further rewarding student
success
 A clear progression strategy for students
 The involvement of CIMA Marketing and
Communications staff throughout
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Depth and Breadth of Research
Stakeholder research included:
 Employers and Members
 CIMA Faculty Members – Examiners,
Moderators etc
 CIMA Tuition Providers
 CIMA Students
 HE Partners
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Product Development
 Proposals were prepared for the new 2010
qualification – driven by the outcome of the
stakeholder research
 These proposals were examined in detail by
the Project Board and subsequently
approved
 The new 2010 qualification specification
was then discussed and approved by the
Lifelong Learning Policy Committee
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Product Development
Organisational Attributes
Size of Organisation
Number of Employees
%
1-100
25%
101-500
22%
501-2500
20%
2501-10000
18%
10001 +
14%
Data missing/Unclear
1%
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Product Development
Sectors
Sector
Frequency
Manufacturing
23%
Financial services
14%
Engineering, construction,
extractive
13%
Retail, trade, distribution
11%
Public Sector
11%
Non-financial services
8%
IT and telecommunications
8%
Public Practice/consulting
6%
Education and training
4%
Other (Not-for-profit)
2%
The CIMA Chartered Management Accounting Qualification 2010
July 2009
The 2010 CIMA
Qualification Structure
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Strategic
Level
Professional
Competence
Award – Member of the Chartered Institute of Management Accountants
Test of Professional Competence in Management Accounting
Part A – Initial Professional
Development Assessment of
Practical Experience
Part B – Case Study Examination
based on Preseen and Unseen
Material
Paper P 3 Performance
Strategy
Paper E 3 Enterprise
Strategy
Paper F 3 Financial
Strategy
Management
Level
Award - CIMA Advanced Diploma in Management Accounting
Paper E 2 Enterprise
Management
Paper P 2 Performance
Management
Paper F 2 Financial
Management
O perational
Leve l
Award - CIMA Diploma in Management Accounting
Paper E 1 Enterprise
Operations
Paper P 1 Performance
Operations
Paper F 1 Financial
Operations
Enterprise Pillar
Performance Pillar
Financial Pillar
Pre - requisite Entry Requirements e g CIMA Certificate in Business Accounting
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Strategic
Level
Professional
Competence
Award – Member of the Chartered Institute of Management Accountants
Test of Professional Competence in Management Accounting
Part A – Initial Professional
Development – Assessment of
Work Based Practical Experience
Part B – Case Study Examination
based on Preseen and Unseen
Material
Paper P3 Performance
Strategy
Paper E3 Enterprise
Strategy
Paper F3 Financial
Strategy
Management
Level
Award - CIMA Advanced Diploma in Management Accounting
Paper E2 Enterprise
Management
Paper P2 Performance
Management
Paper F2 Financial
Management
Operational
Level
Award - CIMA Diploma in Management Accounting
Paper E1 Enterprise
Operations
Paper P1 Performance
Operations
Paper F1 Financial
Operations
Enterprise Pillar
Performance Pillar
Financial Pillar
Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)
The CIMA Chartered Management Accounting Qualification 2010
July 2009
The Enterprise Pillar
2005 Syllabus
P4 – Organisational Management and
Information Systems
2010 Syllabus
E1 – Enterprise Operations
A
A
B
C
D
E
Information Systems
Change Management
Operations Management
Marketing
Managing Human Capital
20%
10%
20%
20%
30%
20%
B
The Global Business
Environment
Information Systems
C
D
E
Operations Management
Marketing
Managing Human Capital
20%
20%
20%
The CIMA Chartered Management Accounting Qualification 2010
20%
July 2009
The Enterprise Pillar
A
B
C
2005 Syllabus
P5 – Integrated Management
The Basis of Strategic
30%
Management
Project Management
The Management of
Relationships
40%
30%
A
B
C
2010 Syllabus
E2 – Enterprise Management
Strategic Management and
30%
Assessing the Competitive
Environment
Project Management
40%
Managing Relationships
30%
The CIMA Chartered Management Accounting Qualification 2010
July 2009
The Enterprise Pillar
2005 Syllabus
P6 – Management Accounting Business
Strategy
A
Assessing the Competitive
20%
Environment
B
Interacting with the
20%
Competitive Environment
C
Evaluation of Options,
30%
Planning and Appraisal
D
Implementation of Strategic
30%
Plans
2010 Syllabus
E3 – Enterprise Strategy
A
B
C
D
Interacting with the Competitive
Environment
Evaluation of Strategic Options
20%
Implementation of Strategic
Plans
Change Management
30%
The CIMA Chartered Management Accounting Qualification 2010
30%
20%
July 2009
Enterprise Pillar
context of globalisation
2005 Syllabus
P4 – Organisational Management and
Information Systems
2010 Syllabus
E1 – Enterprise Operations
A
A
B
C
D
E
Information Systems
Change Management
Operations Management
Marketing
Managing Human Capital
change management
20%
10%
20%
20%
30%
20%
B
The Global Business
Environment
Information Systems
C
D
E
Operations Management
Marketing
Managing Human Capital
20%
20%
20%
A
20%
B
C
2005 Syllabus
P5 – Integrated Management
The Basis of Strategic
30%
Management
Project Management
The Management of
Relationships
40%
30%
assessing the competitive
environment
2005 Syllabus
P6 – Management Accounting Business
Strategy
A
Assessing the Competitive
20%
Environment
B
Interacting with the
20%
Competitive Environment
C
Evaluation of Options,
30%
Planning and Appraisal
D
Implementation of Strategic
30%
Plans
A
B
C
2010 Syllabus
E2 – Enterprise Management
Strategic Management and
30%
Assessing the Competitive
Environment
Project Management
40%
Managing Relationships
30%
From P9
finance function
relationships
2010 Syllabus
E3 – Enterprise Strategy
A
B
C
D
Interacting with the Competitive
Environment
Evaluation of Strategic Options
20%
Implementation of Strategic
Plans
Change Management
30%
The CIMA Chartered Management Accounting Qualification 2010
30%
20%
July 2009
The Performance Pillar
A
B
C
D
2005 Syllabus
P1 – Management Accounting
Performance Evaluation
Cost Accounting Systems
25%
Standard Costing
25%
Budgeting
30%
Control and Performance
Measurement of
Responsibility Centres
2010 Syllabus
P1 – Performance Operations
A
Cost Accounting Systems
30%
B
Forecasting and Budgeting
Techniques
10%
C
D
Project Appraisal
Dealing with Uncertainty in
Analysis
Managing Short Term Finance
25%
15%
20%
E
The CIMA Chartered Management Accounting Qualification 2010
20%
July 2009
The Performance Pillar
2005 Syllabus
P2 – Management Accounting Decision
Management
A
Financial Information for
30%
Short-term Decision Making
B
Financial Information for
25%
Long-term Decision Making
C
The Treatment of Uncertainty 15%
in Decision Making
D
Cost Planning and Analysis
30%
for Competitive Advantage
2010 Syllabus
P2 – Performance Management
A
Pricing and Product Decisions
30%
B
Cost Planning and Analysis for
Competitive Advantage
Budgeting and Management
Control
Control and Performance
Measurement of Responsibility
Centres
30%
C
D
The CIMA Chartered Management Accounting Qualification 2010
20%
20%
July 2009
The Performance Pillar
2005 Syllabus
P3 – Management Accounting Risk and
Control Strategy
15%
Management Control
A
Systems
20%
Risk and Internal Control
B
15%
Review and Audit of Control
C
Systems
30%
Management of Financial
D
Risk
20%
Risk and Control in
E
Information Systems
2010 Syllabus
P3 – Performance Strategy
A
Management Control Systems
10%
B
C
Risk and Internal Control
Review and Audit of Control
Systems
Management of Financial Risk
25%
15%
Risk and Control in Information
Systems
15%
D
E
The CIMA Chartered Management Accounting Qualification 2010
35%
July 2009
Performance Pillar
A
B
C
D
2005 Syllabus
P1 – Management Accounting
Performance Evaluation
Cost Accounting Systems
25%
Standard Costing
25%
Budgeting
30%
Control and Performance
Measurement of
Responsibility Centres
application of information in management
2010 Syllabus
P1 – Performance Operations
A
Cost Accounting Systems
30%
B
Forecasting and Budgeting
Techniques
10%
20%
C
D
E
Project Appraisal
Dealing with Uncertainty in
Analysis
Managing Short Term Finance
25%
15%
20%
2005 Syllabus
P2 – Management Accounting Decision
Management
A
Financial Information for
30%
Short-term Decision Making
B
Financial Information for
25%
Long-term Decision Making
C
The Treatment of Uncertainty 15%
in Decision Making
D
Cost Planning and Analysis
30%
for Competitive Advantage
2010 Syllabus
P2 – Performance Management
A
Pricing and Product Decisions
30%
B
Cost Planning and Analysis for
Competitive Advantage
Budgeting and Management
Control
Control and Performance
Measurement of Responsibility
Centres
30%
C
From P7
D
20%
20%
generation of business information
2005 Syllabus
P3 – Management Accounting Risk and
Control Strategy
A
Management Control
15%
Systems
B
Risk and Internal Control
20%
C
Review and Audit of Control
15%
Systems
D
Management of Financial
30%
Risk
E
Risk and Control in
20%
Information Systems
2010 Syllabus
P3 – Performance Strategy
A
Management Control Systems
10%
B
C
Risk and Internal Control
Review and Audit of Control
Systems
Management of Financial Risk
25%
15%
Risk and Control in Information
Systems
15%
D
E
35%
The CIMA Chartered Management Accounting Qualification 2010
more on external audit
rebalancing
(role & interaction)
July 2009
The Financial Pillar
A
B
C
D
2005 Syllabus
P7 – Financial Accounting and Tax
Principles
Principles of Business
20%
Taxation
Principles of Regulation of
10%
Financial Reporting
Single Company Financial
45%
Accounts
Managing Short Term
25%
Finance
2010 Syllabus
F1 – Financial Operations
A
Principles of Business Taxation
25%
B
Regulation and Ethics of
Financial Reporting
Financial Accounting and
Reporting
15%
C
The CIMA Chartered Management Accounting Qualification 2010
60%
July 2009
The Financial Pillar
A
B
C
D
2005 Syllabus
P8 – Financial Analysis
Group Financial Statements
The Measurement of Income
and Capital
Analysis and Interpretation of
Financial Accounts
Developments in External
Reporting
35%
20%
A
B
35%
C
10%
D
2010 Syllabus
F2 – Financial Management
Group Financial Statements
Issues in Recognition and
Measurement
Analysis and Interpretation of
Financial Accounts
Developments in External
Reporting
The CIMA Chartered Management Accounting Qualification 2010
35%
20%
35%
10%
July 2009
The Financial Pillar
2005 Syllabus
P9 – Management Accounting Financial
Strategy
A
Formulation of Financial
20%
Strategy
B
Financial Management
30%
C
Business Valuations and
25%
Acquisitions
D
Investment Decisions and
25%
Project Control
2010 Syllabus
F3 – Financial Strategy
A
B
C
Formulation of Financial
Strategy
Financing Decisions
Investment Decisions and
Project Control
The CIMA Chartered Management Accounting Qualification 2010
25%
30%
45%
July 2009
Financial Pillar
A
B
C
D
2005 Syllabus
P7 – Financial Accounting and Tax
Principles
Principles of Business
20%
Taxation
Principles of Regulation of
10%
Financial Reporting
Single Company Financial
45%
Accounts
Managing Short Term
25%
Finance
To E2 -
addition of examinable context
at each diet
2010 Syllabus
F1 – Financial Operations
A
Principles of Business Taxation
25%
B
Regulation and Ethics of
Financial Reporting
Financial Accounting and
Reporting
15%
C
60%
basic consolidation
A
B
To P1
C
finance
function
relationships
2005 Syllabus
P9 – Management Accounting Financial
Strategy
A
Formulation of Financial
20%
Strategy
B
Financial Management
30%
C
Business Valuations and
25%
Acquisitions
D
Investment Decisions and
25%
Project Control
addition of ethics
D
2005 Syllabus
P8 – Financial Analysis
Group Financial Statements
The Measurement of Income
and Capital
Analysis and Interpretation of
Financial Accounts
Developments in External
Reporting
35%
20%
A
B
35%
C
10%
D
2010 Syllabus
F2 – Financial Management
Group Financial Statements
Issues in Recognition and
Measurement
Analysis and Interpretation of
Financial Accounts
Developments in External
Reporting
35%
20%
35%
10%
2010 Syllabus
F3 – Financial Strategy
A
B
C
Formulation of Financial
Strategy
Financing Decisions
Investment Decisions and
Project Control
25%
30%
reorganisation and rebalancing
45%
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
100%
SKILL
REQUIRED
80%
LEVEL 4/5
60%
LEVEL 3
40%
LEVEL 1/2
20%
0%
Operational
Management
The CIMA Chartered Management Accounting Qualification 2010
Strategic
July 2009
Qualification Assessment
Key features:
 All exams remain at 3 hours duration
 Reduced objective testing – robustness –
improving progression rates at higher levels
 Increased compulsion within papers - greater
transparency with an expectation that core
requirements will be regularly assessed
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
Operational level:
 Reduced objective testing
 Increased compulsion within papers - greater
transparency with an expectation that core
requirements will be regularly assessed
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
Management level:
 Removal of objective testing
 More questions requiring discursive skills
 Increased compulsion within papers
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
Strategic level:
 A common scenario across all three strategic
level papers, published as pre-seen material
before the exam (approx 3 to 5 pages) for the
50 mark question…… one page of unique
unseen material in each exam
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
Professional Competence level:
Award - Member of the Chartered Institute of Management Accountants
Test of Professional Competence in Management Accounting
Part A – Initial Professional Development –
Assessment of Practical Experience
Part B – Case Study Examination
based on Preseen and Unseen Material
The CIMA Chartered Management Accounting Qualification 2010
July 2009
Qualification Assessment
Professional Competence level:
Award - Member of the Chartered Institute of Management Accountants
Test of Professional Competence in Management Accounting
Part A – Initial Professional Development –
Assessment of Practical Experience
Part B – Case Study Examination
based on Preseen and Unseen Material
50 credits
50 credits
TO PASS TOPCIMA = 75 credits
Minimum to pass
=
50
25
The CIMA Chartered Management Accounting Qualification 2010
July 2009
The Chartered Management
Accounting Qualification 2010
FOCUSED ON THE FUTURE
The CIMA Chartered Management Accounting Qualification 2010
July 2009
… any questions?
The CIMA Chartered Management Accounting Qualification 2010
July 2009