CIMA induction day Certificate in Business Accounting

Clancy Peiris ACMA, CGMA, Attorney at LawStudy Support and Learning Manager

CIMA

Session focus

• CIMA exams are different and challenging• Syllabus navigation• Exam verbs• Studying smart (not necessarily hard!)• Assessment strategy• Which exam to sit first• Where to start • Exam day nerves• Q & A

• Students who:

o fully understand the requirements of the CIMA examinations

o demonstrate the required level of knowledge and skill in their answers to examination questions

o are successful

• An overall improvement in success rates in the CIMA examinations.

The CIMA aims

CIMA difference CIMA exams focus on developing

competencies / skills vital for

employment

CIMA qualification is very diverse with

greater breath (= 2 digress)

CIMA has only one exam for each

subject (constraint by

CIMA does not teach, and rely on

independent institutions

Practical, on-the-job learning (Plus code of ethics)

Emphasis on strategic business skills

Syllabus detail• Full syllabus pack is available on

www.cimaglobal.com/Students/Exam-preparation/

• 5 exams at certificate level (entry level qualification)• C01 – Fundamentals of Management Accounting• C02 – Fundamentals of Financial Accounting• C03 – Fundamentals of Business Mathematics• C04 – Fundamentals of Business Economics• C05 – Fundamentals of Ethics, Corporate Governance

and Business Law

Level skills / abilities examined – learning objectives –

5 - Evaluation

4 - Analysis

3 - Application

2 - Comprehension

1 - Knowledge

Skills / abilities examinedKnowledge

Comprehension

Application

Analysis

Evaluation

• you have to know (facts, theories , techniques)

• you have to understand (history, background, strengths, weaknesses, links between topics)

• you have to be able to do it (apply knowledge in different contexts)

• you have to identify problems & look at complex practical solutions you have to apply a proposed solution, then discuss issues arising from the application

• you have to identify possible solutions and discuss their strengths and weaknesses, then recommend and justify the most appropriate solution.

1

2

3

4

5

LIST OF VERBS USED IN THE QUESTION REQUIREMENTS

A list of the learning objectives and verbs that appear in the syllabus and in the question requirements for each question in this paper. It is important that you answer the question according to the definition of the verb.

LEARNING OBJECTIVE VERBS USED DEFINITION

1 KNOWLEDGE

What you are expected to know. List Make a list of State Express, fully or clearly, the details of/facts of Define Give the exact meaning of

2 COMPREHENSION

What you are expected to understand. Describe Communicate the key features Distinguish Highlight the differences between Explain Make clear or intelligible/State the meaning or

Purpose of Identify Recognise, establish or select after

Consideration Illustrate Use an example to describe or explain

Something

3 APPLICATION

How you are expected to apply your knowledge. Apply Calculate

Put to practical use Ascertain or reckon mathematically

Demonstrate Prove with certainty or to exhibit by practical means

Prepare Make or get ready for use Reconcile Make or prove consistent/compatible Solve Find an answer to Tabulate Arrange in a table

4 ANALYSIS

How you are expected to analyse the detail of what you have learned.

Analyse Categorise

Examine in detail the structure of Place into a defined class or division

Compare and contrast Show the similarities and/or differences between

Construct Build up or compile Discuss Examine in detail by argument Interpret Translate into intelligible or familiar terms Prioritise Place in order of priority or sequence for action Produce Create or bring into existence

5 EVALUATION

How you are expected to use your learning to evaluate, make decisions or recommendations.

Advise Evaluate Recommend

Counsel, inform or notify Appraise or assess the value of Propose a course of action

Navigating the syllabusLead learning outcomes

Component learning outcomes

Indicative syllabus content

Illustration: Learning outcome

Distinguish between tangible and intangible assets (C01 A 1f)

• Level 2 skill (Comprehension)• No questions to test higher skills (e.g. ‘Advise’, ‘Evaluate’

or ‘Recommend’• Study for the CIMA exam

Consult the syllabus• Component learning outcomes (‘rules of the game’)

• VERB (at the beginning of each learning outcome) suggests ability / skill level.

• In the exam, the question requirements will be the component learning outcomes! (not topics in the syllabus)

Syllabus – skills development

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

Test of Professional Competence in Management Accounting

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

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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

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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

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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

Test of Professional Competence in Management Accounting

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

Str

ate

gic

Le

ve

lM

an

ag

em

en

tL

ev

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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

era

tio

na

lL

ev

el

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

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ion

al

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Generally assessed at Levels 1 to 3

Knowledge – Comprehension – Application

Generally assessed at Levels 2 to 4

Comprehension – Application – Analysis

Generally assessed at Levels 3 to 5

Application – Analysis – Evaluation

Generally assessed at Levels 3 to 5

Application – Analysis – Evaluation

Certificate level is a stepping-stone• CIMA is a progressional syllabus and as such the

foundations at certificate level are developed in the professional qualification:

• C01 > P1 & P2• C02 > P1, F1, P3• C03 > P1, E1, F1, P2, F2• C04 > P1, E1, P2, E2, E3, F3• C05 > All subjects

Organising your study sessionStart with learning outcome(s)

Knowledge / information

• Key terms – core vocabulary you need to learn

• Key points – you have to know, ideas or calculations that will be foundation of your answer

Short notes – if you want to remember something, write it down

Business awareness – will help to understand theory better

Practice questions to time (the most helpful tactic)

Assessment strategy

Select the single best response

Select multiple best responses

‘Fill in the blank’ data entry

− 50 questions each for C01 and C02

− 45 questions in C03

− 75 questions each for C04 and C05

Duration: 2 hours (+ a 15 minute tutorial)

Pass mark: 50%

No negative marking

On-screen calculator

• The exam uses an onscreen scientific calculator • You cannot take your own calculator into the testing room• Practice using the calculator during the tutorial • Read our guidance notes on using the CBA calculator

www.cimaglobal.com/Documents/Student%20docs/2011_CBA/Certificate%20level%20CBA%20calculator%20guidance%20November%202012.pdf

To change from scientific to simple calculator

To change from scientific to simple calculator

Maths tables and formulae

• For C01 and C03 assessments

• On screen access at any time during the test.

To access tables and formulae

The size of the tables and formulae can be adjusted and moved across the screen

Which exam to sit first?

• Assess prior knowledge• Confidence of subject topic• Preference of theory over calculations• A guide of which exams to sit together is

available within the syllabus document.

Where to start?• Begin with study materials either study text,

CIMAstudy.com or a tuition provider.• All good preparation starts with a plan and deadline.• Gather all the free resources you can to help you

prepare, sample exam questions, examiners articles, study help videos etc.

• Use the study planner online so you can plan for all CIMA important dates.

www.cimaglobal.com/studyplanner

Where to start?• Work out a timetable of how many hours you can

dedicate each week to your study. Remember, to include personal commitments such as family time, sports, events, holidays etc and also work time.

• Review the timetable each week and update as necessary, this will ensure you don’t fall behind or miss any important personal commitments.

Where to start?

• Since the exams can be taken at any time it is worthwhile giving yourself a deadline of when you aim to complete your first exam.

• If you wish to enter professional level exams for Nov you must complete all certificate exams by 12th September and 12th March for May exams.

• Most students complete all exams within 12-18 months.

The ‘big day’

• Prepared students are confident and less nervous.• Have everything you need prepared the day before

(pens, glasses, directions to exam centre, ID etc, petrol in your car or public transport plans checked).

• Have a good night’s sleep.• Avoid cramming the night before, what you don’t know

now you will never know!• Remember, to set the alarm clock!• Arrive at the centre in plenty of time.

Motivate yourself

• Have something special arranged after you finish exam.• You will have a few months break before the next exam,

so enjoy it.• Be ready to tick that exam off your study wall list.• ‘Nothing great was ever achieved without enthusiasm.’ –

Ralph Waldo Emerson• ‘The only way of finding the limits of the possible is by

going beyond them into the impossible.’ – Arthur C. Clarke

Finally...

• Remember once you complete exams you always get a reward – ‘CIMA Certificate in Business Accounting’

• For all you free study resources visit:

www.cimaglobal.com/students/Exam-preparation/Certificate

Any questions?

Thank you