the cima chartered management accounting qualification 2010july 2009 presented by: dr (hon) robert...

The CIMA Chartered Management Accounting Qualification 2010 July 2009

Presented by:Dr (Hon) Robert G. Jelly,Director of Education, CIMA

The Chartered Management AccountingQualification 2010


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


Overview

4 levels – Operational; Management; Strategic; and Professional Competence

A new CIMA Diploma in Management CIMA Diploma in Management AccountingAccounting – further rewarding student success

A clear progression strategy for students

The involvement of CIMA Marketing and Communications staff throughout


Depth and Breadth of Research

Stakeholder research included:

Employers and Members

CIMA Faculty Members – Examiners, Moderators etc

CIMA Tuition Providers

CIMA Students

HE Partners


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


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%


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%

Product Development Sectors


The 2010 CIMAQualification Structure


-Paper P 1 Performance Operations

-Paper P 2 Performance Management

Performance Pillar Financial PillarEnterprise Pillar

-Paper F 2 Financial

Management

-Paper F 1 Financial

Operations

-Paper F 3 Financial Strategy

-Paper P 3 Performance

Strategy

-Paper E 3 Enterprise Strategy

Test of Professional Competence in Management Accounting

Pre - requisite Entry Requirements e g CIMA Certificate in Business Accounting

Str

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-Paper E 1 Enterprise Operations

-Paper E 2 Enterprise

Management

Award - CIMA Advanced Diploma in Management Accounting

Award - CIMA Diploma in Management Accounting

pO

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t io

na

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ev

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Award – Member of the Chartered Institute of Management Accountants

Part A – Initial Professional Development Assessment of

Practical Experience

Part B – Case Study Examinationbased on Preseen and Unseen

Material

Pro

fess

ion

alC

om

pet

ence


Performance Pillar Financial Pillar

Paper P1 - Performance Operations

Paper P2 - Performance Management

Enterprise Pillar

Paper F2 - Financial

Management

Paper F1 - Financial

Operations

Paper F3 -Financial Strategy

Paper P3 - Performance

Strategy

Paper E3 -Enterprise Strategy


Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)

Str

ate

gic

Lev

el

Ma

nag

emen

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Paper E1 -Enterprise Operations

Paper E2 - Enterprise

Management

Award - CIMA Advanced Diploma in Management Accounting

Award - CIMA Diploma in Management Accounting

Op

erat

ion

alL

eve

l

Award – Member of the Chartered Institute of Management Accountants

Part A – Initial Professional Development – Assessment of

Work Based Practical Experience

Part B – Case Study Examinationbased on Preseen and Unseen

MaterialP

rofe

ssio

nal

Co

mp

ete

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e


2005 Syllabus 2010 Syllabus P4 – Organisational Management and

Information Systems E1 – Enterprise Operations

A The Global Business Environment

20%

A Information Systems 20% B Information Systems 20% B Change Management 10% C Operations Management 20% C Operations Management 20% D Marketing 20% D Marketing 20% E Managing Human Capital 30% E Managing Human Capital 20%

The Enterprise Pillar


2005 Syllabus 2010 Syllabus P5 – Integrated Management E2 – Enterprise Management

A The Basis of Strategic Management

30% A Strategic Management and Assessing the Competitive Environment

30%

B Project Management 40% B Project Management 40% C The Management of

Relationships 30% C Managing Relationships 30%



2005 Syllabus 2010 Syllabus P6 – Management Accounting Business

Strategy E3 – Enterprise Strategy

A Assessing the Competitive Environment

20%

B Interacting with the Competitive Environment

20% A Interacting with the Competitive Environment

20%

C Evaluation of Options, Planning and Appraisal

30% B Evaluation of Strategic Options 30%

D Implementation of Strategic Plans

30% C Implementation of Strategic Plans

30%

D Change Management 20%



Enterprise Pillar

2005 Syllabus 2010 Syllabus P4 – Organisational Management and

Information Systems E1 – Enterprise Operations

A The Global Business Environment

20%

A Information Systems 20% B Information Systems 20% B Change Management 10% C Operations Management 20% C Operations Management 20% D Marketing 20% D Marketing 20% E Managing Human Capital 30% E Managing Human Capital 20%

2005 Syllabus 2010 Syllabus P5 – Integrated Management E2 – Enterprise Management

A The Basis of Strategic Management

30% A Strategic Management and Assessing the Competitive Environment

30%

B Project Management 40% B Project Management 40% C The Management of

Relationships 30% C Managing Relationships 30%

change management

From P9finance function relationships

assessing the competitive environment

context of globalisation

2005 Syllabus 2010 Syllabus P6 – Management Accounting Business

Strategy E3 – Enterprise Strategy

A Assessing the Competitive Environment

20%

B Interacting with the Competitive Environment

20% A Interacting with the Competitive Environment

20%

C Evaluation of Options, Planning and Appraisal

30% B Evaluation of Strategic Options 30%

D Implementation of Strategic Plans

30% C Implementation of Strategic Plans

30%

D Change Management 20%


The Performance Pillar

2005 Syllabus 2010 Syllabus P1 – Management Accounting

Performance Evaluation P1 – Performance Operations

A Cost Accounting Systems 25% B Standard Costing 25%

A Cost Accounting Systems 30%

C Budgeting 30% B Forecasting and Budgeting Techniques

10%

D Control and Performance Measurement of Responsibility Centres

20%

C Project Appraisal 25% D Dealing with Uncertainty in

Analysis 15%

E Managing Short Term Finance 20%


2005 Syllabus 2010 Syllabus P2 – Management Accounting Decision

Management P2 – Performance Management

A Financial Information for Short-term Decision Making

30% A Pricing and Product Decisions 30%

B Financial Information for Long-term Decision Making

25%

C The Treatment of Uncertainty in Decision Making

15%

D Cost Planning and Analysis for Competitive Advantage

30% B Cost Planning and Analysis for Competitive Advantage

30%

C Budgeting and Management Control

20%


20%




2005 Syllabus 2010 Syllabus P3 – Management Accounting Risk and

Control Strategy P3 – Performance Strategy

A Management Control Systems

15% A Management Control Systems 10%

B Risk and Internal Control 20% B Risk and Internal Control 25% C Review and Audit of Control

Systems 15% C Review and Audit of Control

Systems 15%

D Management of Financial Risk

30% D Management of Financial Risk 35%

E Risk and Control in Information Systems

20% E Risk and Control in Information Systems

15%


Performance Pillar

2005 Syllabus 2010 Syllabus P2 – Management Accounting Decision

Management P2 – Performance Management

A Financial Information for Short-term Decision Making

30% A Pricing and Product Decisions 30%

B Financial Information for Long-term Decision Making

25%

C The Treatment of Uncertainty in Decision Making

15%

D Cost Planning and Analysis for Competitive Advantage

30% B Cost Planning and Analysis for Competitive Advantage

30%

C Budgeting and Management Control

20%


20%

2005 Syllabus 2010 Syllabus P3 – Management Accounting Risk and

Control Strategy P3 – Performance Strategy

A Management Control Systems

15% A Management Control Systems 10%

B Risk and Internal Control 20% B Risk and Internal Control 25% C Review and Audit of Control

Systems 15% C Review and Audit of Control

Systems 15%

D Management of Financial Risk

30% D Management of Financial Risk 35%

E Risk and Control in Information Systems

20% E Risk and Control in Information Systems

15%

generation of business information

rebalancing

application of information in management

From P7

2005 Syllabus 2010 Syllabus P1 – Management Accounting

Performance Evaluation P1 – Performance Operations

A Cost Accounting Systems 25% B Standard Costing 25%

A Cost Accounting Systems 30%

C Budgeting 30% B Forecasting and Budgeting Techniques

10%


20%

C Project Appraisal 25% D Dealing with Uncertainty in

Analysis 15%

E Managing Short Term Finance 20%

more on external audit (role & interaction)


2005 Syllabus 2010 Syllabus P7 – Financial Accounting and Tax

Principles F1 – Financial Operations

A Principles of Business Taxation

20% A Principles of Business Taxation 25%

B Principles of Regulation of Financial Reporting

10% B Regulation and Ethics of Financial Reporting

15%

C Single Company Financial Accounts

45% C Financial Accounting and Reporting

60%

D Managing Short Term Finance

25%

The Financial Pillar


2005 Syllabus 2010 Syllabus P8 – Financial Analysis F2 – Financial Management

A Group Financial Statements 35% A Group Financial Statements 35% B The Measurement of Income

and Capital 20% B Issues in Recognition and

Measurement 20%

C Analysis and Interpretation of Financial Accounts

35% C Analysis and Interpretation of Financial Accounts

35%

D Developments in External Reporting

10% D Developments in External Reporting

10%



2005 Syllabus 2010 Syllabus P9 – Management Accounting Financial

Strategy F3 – Financial Strategy

A Formulation of Financial Strategy

20% A Formulation of Financial Strategy

25%

B Financial Management 30% B Financing Decisions 30% C Business Valuations and

Acquisitions 25%

D Investment Decisions and Project Control

25% C

Investment Decisions and Project Control

45%



2005 Syllabus 2010 Syllabus P7 – Financial Accounting and Tax

Principles F1 – Financial Operations

A Principles of Business Taxation

20% A Principles of Business Taxation 25%

B Principles of Regulation of Financial Reporting

10% B Regulation and Ethics of Financial Reporting

15%

C Single Company Financial Accounts

45% C Financial Accounting and Reporting

60%

D Managing Short Term Finance

25%

2005 Syllabus 2010 Syllabus P8 – Financial Analysis F2 – Financial Management

A Group Financial Statements 35% A Group Financial Statements 35% B The Measurement of Income

and Capital 20% B Issues in Recognition and

Measurement 20%

C Analysis and Interpretation of Financial Accounts

35% C Analysis and Interpretation of Financial Accounts

35%

D Developments in External Reporting

10% D Developments in External Reporting

10%

2005 Syllabus 2010 Syllabus P9 – Management Accounting Financial

Strategy F3 – Financial Strategy

A Formulation of Financial Strategy

20% A Formulation of Financial Strategy

25%

B Financial Management 30% B Financing Decisions 30% C Business Valuations and

Acquisitions 25%

D Investment Decisions and Project Control

25% C

Investment Decisions and Project Control

45%

To P1

Financial Pillar

addition of ethics

basic consolidation

To E2 -finance function relationships

reorganisation and rebalancing

addition of examinable context at each diet


SKILL REQUIRED

Operational Management Strategic

Qualification Assessment

LEVEL 4/5

LEVEL 3

LEVEL 1/2

100%

80%

60%

40%

20%

0%


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



Operational level:

Reduced objective testing Increased compulsion within papers - greater

transparency with an expectation that core requirements will be regularly assessed



Management level:

Removal of objective testing More questions requiring discursive skills Increased compulsion within papers



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


Award - Member of the Chartered Institute of Management Accountants


Part A – Initial Professional Development –Assessment of Practical Experience

Part B – Case Study Examinationbased on Preseen and Unseen Material


Professional Competence level:


Award - Member of the Chartered Institute of Management Accountants


Part A – Initial Professional Development –Assessment of Practical Experience

Part B – Case Study Examinationbased on Preseen and Unseen Material


Professional Competence level:

50 credits 50 credits

TO PASS TOPCIMA = 75 credits

Minimum to pass = 50 25


The Chartered Management Accounting Qualification

2010

FOCUSUSED ON THE FUTURE


… any questions?

the cima chartered management accounting qualification 2010july 2009 presented by: dr (hon) robert...

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