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Let me address a few questions that might be on your mind.
New syllabus will be enforced from 04.11.2019. Till that time you will be attempting 2015 Syllabus.
New Case Studies will be introduced only in Feb 2020.
As the role of the finance team is changing, we are embracing more and more the digital aspect, the CIMA Framework is adjusting as well.
I would say that the competency framework is not really changing, it is just adapting to the current work environment by including the digital aspect. Check the comparison of the "old" and "new" framework:
Operational level skill level required: remembering and understanding
I've attached the syllabus blueprints there as well:
2015: E1 Organisational Management | 2019: E1 Managing Finance in a Digital World |
Throughout the last 18 months, CIMA have systematically collected individual, personal and organisational ‘rules-of-thumb’ and built them into a composite picture of what the finance function in a digital world looks like.
The purpose of this research was to:
Our core finding is this:
In other words, the finance function will no longer be evaluated purely on how costly it is to run, and be viewed as just another cost centre. Instead, the finance function will be judged on the added value it brings to the organisation and the wider community. For anyone who practices management accounting, this shift highlights the prospect of a rewarding career in finance – a shift in which they can add real value to organisations and society as a whole.
“How does the new syllabus impact me?” is one of the most common questions we get when a new syllabus is introduced.
Try to complete the level you're studying for under 2015 syllabus. You know it, you studied i. It's human nature - what we already know, doesn't seem so scary.
But I must say that this 2019 syllabus change is not a major change like it was in the case of 2015, so do not worry. The way of examining is the same, just the content of papers is adjusting to reflect what's currently happening in the world.
What it would mean is that when the exam is enforced, you will need to use new materials to prepare yourself. And as always, in such situation, there will be few months of chaos with not that many tuition providers offering new resources. That was the reason why PTA was created after the last 2015 syllabus change :) We will be ready for this and I can assure you, we will have all the materials updated and ready in November 2019! We love challenges!
CIMA has prepared a transition tool that you can use to find out what they suggest are the best steps forward for current students.
Haven’t passed any exams?
Passed ONE, TWO or THREE exams?
The CIMA Professional Qualification is changing in order to adjust to the rapidly changing profession. CIMA has made a research and found out what are the professional competencies that the employers are looking for nowadays.
No. The structure of the ICMA qualification stays the same. There are 3 pillars: E - enterprise, P - performance and F - finance.
There are 9 Objective Tests (OT) and 3 Case Study Exams in the professional level.
No. There are still OT (Objective Papers) and Case Studies for every level of the professional qualification.
The exams will remain as rigorous as they currently are. CIMA also does not foresee any significant impact on the pass rates.
CIMA has introduced exam blueprints and they bring more transparency and clarity on what's examinable so that you can be better prepared for your exams.
CIMA has prepared a transition planner for personalised advice.
Yes, you will receive credits for all the exams that you have already passed.
Author Bio:
This article is written and updated by Justyna Wachulka-Chan who had guided thousands of CIMA aspirants. She aims to help a million cima aspirants to pass their CIMA exams.
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