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2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005

2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005. What the CIMA professional qualification looks like……in 2005. Test of Professional Competence in Management. Accounting (TOPCIMA). Paper P3 -. Paper P6. Paper P9. Management. Management. Management. Accounting Risk.

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2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005

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  1. 2. THE CIMA CHARTERED MANAGEMENT ACCOUNTING QUALIFICATION 2005

  2. What the CIMA professional qualification looks like……in 2005

  3. Test of Professional Competence in Management Accounting (TOPCIMA) Paper P3 - Paper P6 Paper P9 Management Management Management Accounting Risk Accounting Accounting and Control Business Financial Strategy Strategy Strategy Award - CIMA Advanced Diploma in Management Accounting Paper P2 - Management Paper P5 - Paper P8 - Practical Accounting Integrated Financial Experience Decision Management Analysis Management Recorded as a Career Profile with record of skills Paper P1 - Paper P4 - Paper P7 - Management development (RSD) Organisational Financial Accounting Management Accounting and Performance and Information Minimum of Tax Principles Evaluation Systems Three Years of Relevant Experience Business Management Financial Management Pillar Accounting Pillar Management Pillar Prior experience can be included Award - Member of the Chartered Institute of Management Accountants Strategic Level Managerial Level Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)

  4. Test of Professional Competence in Management Accounting (TOPCIMA) Paper P3 - Paper P6 Paper P9 Management Management Management Accounting Risk Accounting Accounting and Control Business Financial Strategy Strategy Strategy Award - CIMA Advanced Diploma in Management Accounting Paper P2 - Management Paper P5 - Paper P8 - Practical Accounting Integrated Financial Experience Decision Management Analysis Management Recorded as a Career Profile with record of skills Paper P1 - Paper P4 - Paper P7 - Management development (RSD) Organisational Financial Accounting Management Accounting and Performance and Information Minimum of Tax Principles Evaluation Systems Three Years of Relevant Experience Business Management Financial Management Pillar Accounting Pillar Management Pillar Prior experience can be included Award - Member of the Chartered Institute of Management Accountants Strategic Level Managerial Level Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)

  5. 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

  6. 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

  7. 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)

  8. Study Routes Managerial Level - Alternative A

  9. Study Routes Managerial Level - Alternative B

  10. Study Routes Managerial Level - Alternative C

  11. Study Routes Strategic Level - No Alternative

  12. Current CIMA 2000 Curriculum

  13. 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%

  14. New CIMA 2005 Curriculum

  15. 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%

  16. 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%

  17. New location of current content 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% 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%

  18. New location of current content 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% 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%

  19. Current CIMA 2000 Curriculum

  20. 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%

  21. New CIMA 2005 Curriculum

  22. 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%

  23. New CIMA 2005 Curriculum P5 Integrated Management A. The basis of strategic management - 30% B. Project management - 40% C. The management of relationships - 30%

  24. 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%

  25. New location of current content 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% 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%

  26. New location of current content P5 Integrated Management A. The basis of strategic management - 30% B. Project management - 40% C. The management of relationships - 30% 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%

  27. New location of current content 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% 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%

  28. New location of current content 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% 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%

  29. 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

  30. 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

  31. 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)

  32. P10 - TOPCIMA So what is different to the current Paper 15 - MA Case Study? • Assessment • A new assessment matrix will be used that has a number of different assessment criteria • Most significantly - more weight is attached to knowledge and its correct selection and application when solving problems

  33. TOPCIMA Assessment Matrix

  34. TOPCIMA Assessment Matrix

  35. TOPCIMA Assessment Matrix Example: Criteria - Technical • “…have a sound technical knowledge of the specific subjects of the curriculum” • This rewards the knowledge itself

  36. 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!)

  37. 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

  38. 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

  39. 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)

  40. 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

  41. Practical Experience Requirements - Have They Changed? • The skill statements required in the RSD will fall within three headings: • personal skills • interpersonal skills • organisational skills

  42. Practical Experience Requirements - The RSD

  43. 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

  44. 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

  45. Lecturers’ conference 2004 Sponsored by

  46. CIMA Official Study Systems New editions fully support the new syllabus

  47. 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

  48. 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

  49. How Can You Keep Up To Date? • Reading CIMA Insider • The website cimaglobal.com/professionalqualifications • Ask us!

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