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CIMA PROGRAMME
CIMA is the world’s largest and leading professional body of management accountants. Serving students and members in over 168 countries, CIMA offers the most relevant finance qualification for business.
At Simon Page Business School, we will provide all the support you need to improve your career in business. We will guide you as you acquire and develop the skills necessary to interpret financial information in order to give strategic advice, manage risk and make key business decision.
We offer flexible study options (part time and intensive weekends) and tuition is delivered by experienced faculty members.
CIMA Course Structure
CIMA CERTIFICATE IN BUSINESS ACCOUNTING
- Fundamentals of Management Accounting (Paper C01)
- Fundamentals of Financial Accounting (Paper C02)
- Fundamentals of Business Mathematics (Paper C03)
- Fundamentals of Business Economics (Paper C04)
- Fundamentals of Ethics, Corporate Governance and Business law (Paper C05)
The CIMA certificate in Business Accounting is ideal for people who are new to the world of business qualifications because it offers a solid grounding in the basics of management accounting, financial accounting and business.
It will introduce you to the concept of management accounting and the quantitative analysis and forecasting techniques used by the Chartered Management Accountants. It will ensure you understand the regulatory framework for accounting, how accounts are prepared, the professional values and ethical standards expected of accountants and economic environment in which organizations operate.
Your performance in the modules is tested by Computer Based Assessment (CBA), which offers three main benefits;
- You can be assessed at your nearest CBA center whenever you are ready.
- Your results and feedback are available immediately.
- If you need to, you can re-sit at a time and place that suits you.
Qualification Content
Paper C01: Fundamentals of Management Accounting
This paper introduces candidates to the core management accounting topics such as cost determination, breakeven analysis, standard costing, coast and accounting systems and financial planning and control.
Learning Outcomes
- Explain the purpose and role of management accounting.
- Explain the role of CIMA as a professional body for management accountants.
- Apply methods for identifying cost and also demonstrate cost behavior.
- Prepare budgetary control statements and variance analysis
- Prepare integrated accounts in a costing environment.
- Prepare financial statements for managers.
- Demonstrate the use of break-even analysis in making short term decisions.
- Demonstrate the use of investment appraisal techniques in making long term decisions.
Paper C02: Fundamentals of Financial Accounting
This paper takes candidates through conceptual and regulatory frameworks, accounting systems and control, and preparing accounting statements for single entities.
Learning Outcomes
- Explain the concept, regulatory and legal framework of financial accounting.
- Prepare ledger accounts and supporting documents.
- Explain the use of codes in accounting systems.
- Prepare accounts for transaction and financial statements for single entity.
- Demonstrate the use of basic ratio in financial performance.
- Explain internal control techniques and the need for external control on business.
- Demonstrate how accounting errors are corrected and explain the nature of fraud.
Paper C03: Fundamentals of Business Mathematics
This paper deals with the mathematical tools and techniques associated with managing business operations. It introduces students to basic mathematics, probability, summarizing and analyzing data, variables, forecasting, financial mathematics and spreadsheets.
Learning Outcomes
- Demonstrate the use of basic mathematic in solving equations and inequalities.
- Calculate probability and demonstrate its uses where risks and uncertainty exists.
- Apply techniques for analyzing and summarizing data.
- Calculate correlation coefficient for bi-variate data and apply techniques for simple regression.
- Demonstrate techniques used for forecasting.
- Calculate present and future values of cash flows and apply financial mathematics techniques.
- Apply spreadsheet to calculate and present data.
Paper C04: Fundamentals of Business Economics
This paper primarily deals with the economic context of business and how competition, the behavior of financial markets, government economic policy can influence an organization. It also provides the key microeconomic techniques underlying price determination and profit maximization decision.
Learning Outcomes
- Explain the factors affecting the level of a country’s national income and the impact of changing growth rate on organizations.
- Explain the factors affecting the trade of a country with the rest of the world and it impact on business.
- Explain the influences of economic development of countries and its effect on business.
- Distinguish between the economic goals of various stakeholders and organizations.
- Describe the behavior of cost and calculate the level of output and price to maximize profit.
- Demonstrate the determination of prices by market forces and the impact of price changes on revenue from sales.
- Explain the reasons for and effect of government intervention to stabilize prices.
- Explain the main sources of market failures and the policies available to deal with them.
- Explain the courses of demand for finance and the assets used for borrowing.
- Explain the functions of the main financial markets and institutions in facilitating commerce and development.
Paper C05: Fundamentals of Ethics, Corporate Governance and Business Law
This paper covers the legal framework for business and provides the underpinning for commercial activities. It includes the contract law, employment law, financing, administration and management of companies.
Learning Outcomes
- Demonstrate an understanding of the important of ethics to business generally and to the professional accountant.
- Explain the various means of regulating ethical behavior.
- Explain how ethical dilemmas and conflict of interest arise and may be resolved.
- Explain the development and impact of corporate governance to all stakeholders.
- Explain the elements of the English legal systems and Alternative legal systems.
- Explain how the law determines the point at which a contract is formed and the legal status of contractual terms.
- Explain the essential element of an employment contract and the remedies available following termination of the contract.
- Explain the impact of health and safety laws on employers and employees.
- Explain the nature, legal status, and administration of business organization.
- Explain the law relating to the financing and management of organizations limited by shares.
How will you be assessed?
All the five papers of the CIMA Certificate in Business Accounting will be assessed at CIMA approved exam centers using the Computer Based Assessment methodology. Registered CIMA students may sit the exam in any other and at any time of the year.
CIMA PROFESSIONAL QUALIFICATION
The CIMA Professional Qualification syllabus is regularly updated in line with the challenges and opportunities presented by a constantly evolving market place and the changing needs of business. It is built on three specific learning pillars: Enterprise pillar, Performance pillar and Financial pillar with each containing three subjects.
There are four distinct levels within the CIMA Professional Qualification. They are;
- OPERATIONAL LEVEL
- MANAGEMENT LEVEL
- STRATEGIC LEVEL
- PROFESSIONAL COMPETENCE LEVEL
Each level is progressive and will deliver skills relative to that level. It also provides stopping-off points as required by the individual or organization. Once you have completed the operational level, you will be awarded the CIMA Diploma in Management Accounting and once you have completed the management level you will be awarded the CIMA Advance Diploma in Management Accounting.
Qualification Content
CIMA Diploma in Management Accounting (Operational Level): E1, P1, F1
The three papers in this level are; Paper E1 – Enterprise Operations, Paper P1 – Performance Operations and Paper F1 – Financial Operations. On the successful completion of the papers of this level, you will be awarded the CIMA Diploma in Management Accounting.
Enterprise Operations (E1)
This paper addresses several functional areas of business, as well as introducing candidates to the economic, social and political context of international business. It covers topics like global business environment, information systems, operations, marketing and managing human capital. The learning outcome alerts students to major developments in the field as well as tools and techniques important to each functional area.
Learning Outcomes
- Explain the social, political and economic context of business and analyze the relationship between the internal governance of the firm and external sources of governance and regulation.
- Discuss the wider business context within which information systems operate and analyze how information systems can be implemented in support of the organization’s strategy.
- Explain the importance of operations management and apply the tools and techniques of operations management.
- Explain the concept and developments in marketing and apply marketing tools and techniques.
- Explain the importance of human resources to the organization and the activities associated with human capital management.
Performance Operations (P1)
This paper primarily deals with the tools and techniques that generate information needed to evaluate and control present and projected performance. It covers topics like cost accounting systems, forecasting and budgeting techniques, project appraisal, dealing with uncertainties in analysis and managing short term finance.
Learning Outcomes
- Discus costing methods and their results.
- Explain the role of MRP and ERP systems and apply principles of environmental costing.
- Explain the purposes of forecasts, plans and budgets and prepare forecasts of financial results and budget.
- Prepare information to support project appraisal and evaluate project proposals.
- Analyze information to assess the impact of decisions on variables with uncertain values and identify short-term funding and investment opportunities.
Financial Operations (F1)
The core objective of this paper is the preparation of the full financial statements for a single company and the principal consolidated financial statements for a simple group. It covers topics like principles of business taxation, regulation and ethics of financial reporting and financial accounting and reporting.
Learning Outcomes
- Explain the types of tax that can apply to incorporated businesses, their principles and potential administrative requirements and fundamental concepts in international taxation.
- Prepare corporate income tax calculations and apply the accounting rules for current and deferred taxation.
- Explain the need for and methods of regulating accounting and financial reporting.
- Prepare the full financial statements of a single company and the consolidated statements of financial position and comprehensive income for a group.
CIMA Advanced Diploma in Management Accounting (Management Level): E2, P2, F2
The three papers in this level are; Paper E2 – Enterprise Management, Paper P2 – Performance Management and Paper F2 – Financial Management. On the successful completion of the papers of this level, you will be awarded the CIMA Advance Diploma in Management Accounting.
Enterprise Management (E2)
This paper E2 moves towards a holistic, integrated view of management across the organization. It covers topics like strategic management, assessing the competitive environment, project management and management of relationships.
Learning Outcomes
- Discuss different competitive environments and key external characteristics of these environments.
- Discuss developments in strategic management.
- Discuss tools and techniques of project management and evaluate the relationship of the project manager to the external environment.
- Discuss concepts associated with the effective operation of an organization.
- Discuss the activities associated with managing people and their associated techniques.
Performance Management (P2)
This paper focuses mainly on the application of information in the management processes of decision-making and control, so as to optimize performance. It covers topics like pricing and product decisions, cost planning and analysis for competitive advantage, budgeting and management control and performance measurement of responsibility centers.
Learning Outcomes
- Discuss concepts of cost and revenue relevant to pricing and product decisions.
- Analyze short-term pricing and discuss pricing strategies and their consequences.
- Evaluate techniques for analyzing and managing costs for competitive advantage.
- Explain the principles that underline the use of budgets in control and evaluate performance using budgets, and other variable factors.
- Discuss the use of responsibility centers in devising organization structure and in management control.
- Discuss information suitable for management decision-making in responsibility centers.
Financial Management (F2)
This paper extends the scope of financial operations to more advance areas. It covers areas like group financial statements, issues in recognition and measurement, analysis and interpretation of financial accounts and developments in external reporting.
Learning Outcomes
- Prepare the full consolidated statements of a single company and the consolidated statements of financial position and comprehensive income for a group.
- Explain the principles of accounting for capital schemes and foreign exchange rate changes.
- Discuss accounting principles and their relevance to accounting issues of contemporary interest.
- Produce a ratio analysis from financial statements and evaluate performance and position.
- Discuss contemporary developments in financial and non-financial reporting.
Strategic Level (Chartered Management Accounting Stage): E3, P3, F3
The three papers in this level are; Paper E3 – Enterprise Strategy, Paper P3 – Performance Strategy and Paper F3 – Financial Strategy.
Enterprise Strategy (E3)
This Paper continues the integration of skills across functions, but concentrates on developing the knowledge and skills used in designing and implementing strategy. It covers topics that deal with interacting with the competitive environment, change management, evaluation of strategic options and implementation of strategic plans.
Learning Outcomes
- Evaluate the key external factors affecting an organization’s strategy and the impact of information systems on an organization.
- Advise on important elements in the change process and evaluate tools and methods for successfully implementing a change programme.
- Recommend change management processes in support of strategy implementation.
- Evaluate the process of strategy development and tools and techniques used in its formulation.
- Evaluate the tools and processes of strategy implementation.
Performance Strategy (P3)
This paper focuses on the impact of financial and non-financial risk on an organization and how it can be managed and controlled. It covers management control systems, risks and internal control, review and audit control systems, management of financial risks and control in information systems.
Learning Outcomes
- Evaluate control systems for organizational activities and resources.
- Evaluate types of risk facing an organization and management strategies and internal controls.
- Evaluate governance and ethical issues facing an organization.
- Evaluate the process and purposes of audit in the context of internal control systems.
- Evaluate financial risks facing an organization and alternative risk management tools.
- Evaluate the benefits and risks associated with information related systems.
Financial Strategy (F3)
This paper deals with the key elements in designing and managing the organization’s financial strategy, in the context of contributing to achieving the objectives within its external constraints, such as the general regulatory and investment environment. It covers topics like formulation of financial strategy, financing decisions and investment decisions and project control.
Learning Outcomes
- Discuss potential strategic financial objectives, and the relationships among and constraints on the elements of financial strategy.
- Evaluate the financial strategies and objectives of an organization and the extent of their attainment.
- Evaluate the financing requirements of an organization and strategies for meeting those requirements.
- Evaluate investment choices and opportunities for merger, acquisition and divestment.
- Evaluate procedures for investment projects.
Test of Professional Competence in Management Accounting
The test of professional competence in management accounting brings together practical experience and education. It is link between being able to ‘do’, not just to know. It is in two parts:
- Part A Initial Professional Development – Work based practical experience
- Part B Case Study Examination based on pre-seen and unseen material.
How will you be assessed?
All the Nine papers of the CIMA Professional Qualification will be assessed at CIMA approved exam centers using the Paper Based Assessment methodology. The CIMA exams are taken in the two diets every year. Registered CIMA students may sit the exam in May and or November diets of the year.
Entry Requirements
The CIMA qualification is open to everyone, although your starting point will be different depending on your previous qualifications.
CIMA Certificate in Business Accounting – No previous qualifications or experience is necessary. However some basic knowledge of mathematics is required. If English is not your first language, you will also need to provide evidence of at least IELTS 6.5 or Trinity ISE III/IV.
CIMA Professional Qualification - This qualification has various entry routes including
- CIMA Certificate in Business Accounting
- Relevant degrees in accounting and business
- Accounting Technician qualification
- Recognized Open University certificates n accounting
- MBA
Exemptions
CIMA Accredited Degrees
Graduates with degrees accredited by CIMA may be eligible for exemptions from the Certificate in Business Accounting and from certain exams within the professional qualification.
Relevant Degrees
Graduates with degrees related to accounting, business, finance, law and other relevant areas may be eligible for exemptions from the Certificate in Business Accounting.
Accounting Technician Qualification
If you hold a recognized AAT accounting qualification, you can build your skills and your career prospects with the CIMA Professional qualification. You are eligible for exemption from the Certificate in Business Accounting.
MBA, ICA (Ghana), ICA(Nigeria)
CIMA recognizes MBA holders as future business leaders and has developed an accelerated route to the CIMA Professional Qualification for them. To partake of the exemption for MBA holders, you will need to sit for the CIMA Masters Gateway Assessment (CMGA) exam. On successful completion of the CMGA exam, you will be granted 11 exemptions from the CIMA professional qualification (all exemptions are free) and will be awarded the CIMA advanced diploma in management accounting. You will then be able to enter the strategic level papers E3, P3 and F3.
Professional Qualifications
If you hold a qualification from another professional body and you want to take the CIMA program to enhance your employability across sectors and borders, CIMA has developed an accelerated route for you. You may be eligible for advance entry to CIMA through the CIMA Professional Gateway Assessment (CPGA) or CIMA Gateway Assessment route (CGA).
Please note that exemptions are awarded only at CIMA’s discretion. CIMA cannot grant exemptions until you are a registered student.
CIMA Fee Structure
Registration - £63
Student’s first year subscription - Free
Annual Subscription - £97
CIMA Certificate in Business Accounting - £45per subject
Operational and Management levels - £75per subject
Strategic level - £81per subject
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