CIMA certification is changing yet again. Is it a good thing? I think so. 

It shows that CIMA wants to be ahead of the curve - the leader in the management accounting profession. CIMA is literally the first certification body realising that the role of finance is shifting. Nowadays we - management accountants, rely much more on technology. A long time ago we stopped crunching the numbers or counting the beans. We became partners to the business. And now, we step up yet again, from navigator to co-pilot of the business.

The digital age is here. AI is becoming more and more common. Those are the changes that we should prepare for. Simple jobs will be most likely replaced by machines. But what machines cannot do (at least now) is to provide strategic guidance. That is the new role for us. 

Let me address a few questions that might be on your mind.

• When: 2019 syllabus will be enforced on 04.11.2019. That means that till November, 2015 syllabus is the one that is being examined. 
• 1st "new" case study will be conducted in Feb 2020.
• Only professional level exams (meaning e.g. E1, P2 or F3) are affected. 
• BA papers will stay unchanged (they are from 2017 syllabus).
• The structure (3 pillars, 3 OT exams + 1 case study per level) and the format of the exams(online based, Pearson Vue etc) is going to be the same.
• The difficulty should remain the same.

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:

So what WILL change in 2019 syllabus:

• Shortly speaking titles and content of the papers. E.g. current E1 Organisational Management paper will be called E1 Managing Finance in the Digital World. 
• As you can imagine, the focus is on the digital aspect of finance. 
• I see that as an improved 2015 syllabus - with some topics thrown away, some topics added and some shifted to other papers. 
• Using CIMA exact words: "The newly introduced exam blueprints bring more transparency and clarity on what’s examinable to help you better prepare for exams and be more confident when entering the exam room." Well, you'll judge that.

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:

• To understand the future needs of businesses and employers globally in a digital world
• To gain insight into the finance function in a digital world
• To understand how new competencies are emerging in a digital world
• To signpost the competency implications for finance professionals.

Our core finding is this:

In a digital world, the focus of the finance function is shifting from being based on costs to being based on organisational value.

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.