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Home > Articles > Career > CMA (US) & CMA (UK) - Overview & Comparison
CMA (US) & CMA (UK) - Overview &
Comparison
Rahul Gupta on 06 July 2010

Friends, bouquets full of thanks to all of you
for my previous article on CFA (US) & CPA
(US). I received a number of thanks and
appreciation from all of you. This inspired
me a lot for writing this article. Also the
comments and feedback from you helped
me to improve the same. In this article, I
tried to compile the information in an
understandable manner for the CMA (US) &
CMA (UK) aspiring candidates. I hope it will
be in interest of aspiring students and will
try to make them more clear and aware
about the various points before undertaking
the said Courses.
Both Courses have same abbreviations as CMA, however IMA (US) provides a certified course
and stands for Certified Management Accountant and CIMA (UK) provides a Chartered
designation and stands for Chartered Management Accountant.
Thi s arti cl e contai ns the contents of the two courses i n the way of sui tabi l i ty, el i gi bi l i ty, exam contents &
structures, course fees and other rel evant poi nts. Al so, rel evant l i nk to the respecti ve pages di rectl y from the
i nsti tute si tes are provi ded for detai l i nformati on, i f requi red by anybody.
Fi nd the detai l s of the two courses i n the bel ow expl anati on. I hope i t cl ari fi es vari ous doubts and questi ons
rel ated to the sai d courses.

Certified Management Accountant
www.i manet.org
About the Course
The Insti tute of Management Accountants (IMA) provi des a dynami c forum for management accounti ng and
fi nanci al professi onal s to devel op and advance thei r careers through i ts Certi fi ed Management Accountant
(CMA) program. IMA Gl obal Headquarters i s l ocated i n Montval e, New Jersey, USA.

Insti tute of Management Accountants
10 Paragon Dri ve Sui te 1
Montval e, New Jersey 07645
U.S.A.
IMA Global Customer Service
Monday thru Fri day 8am - 6:30pm EST
Phone: 800-638-4427;
Outsi de of North Ameri ca, +1-201-573-9000
Fax: +1-201-474-1600
i ma@i manet.org


Sui tabi l i ty
Candi dates i nterested to pursue career as accounti ng and fi nanci al management ski l l s, ri sk anal ysi s,
i nternal control s, fi nanci al deci si on maki ng.

El i gi bi l i ty
a. Educati onal Requi rement > Veri fi cati on of one of the fol l owi ng must be presented prior to completing
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a. Educati onal Requi rement > Veri fi cati on of one of the fol l owi ng must be presented prior to completing
the examination or within seven years of passing the examination i n order to compl ete the educati on
requi rement
i. Have a bachel or's degree from an accredi ted col l ege or uni versi ty. Degrees not from
accredi ted forei gn i nsti tuti ons must be eval uated by an i ndependent agency l i sted at www.aice-
eval.org or www.naces.org.
Cl i ck for l i st of Indi an Certi fi ed Col l eges & Uni versi ti es. >
http://www.i manet.org/certi fi cati on_sep_Ind.asp

i . Professi onal qual i fi cati on comparabl e to the CPA, CMA, etc.
Cl i ck for Li st of professi onal credenti al s
http://www.i manet.org/certi fi cati on_started_educati on_professi onal .asp

Rel evant Poi nt > Students pursui ng i n above courses can al so appl y si nce, the
requi rement can be ful fi l l ed pri or or wi thi n seven years of passi ng the
exami nati on.

b. Experi ence Requi rement > 2 Conti nuous years of professi onal experi ence i n management
accounti ng and/or fi nanci al management.
i . Thi s requi rement may be compl eted prior to or within seven years of passi ng the
exami nati on.
i i . However, conti nuous part-ti me posi ti ons of 20 hours per week meeti ng the defi ni ti on
of qual i fi ed experi ence wi l l count toward thi s requi rement at a rate of one year of experi ence for
every two years of part-ti me empl oyment.
i i i . Qual i fyi ng experi ence consi sts of posi ti ons requi ri ng j udgments regul arl y made
empl oyi ng the pri nci pl es of management accounti ng and fi nanci al management. Such
empl oyment i ncl udes fi nanci al anal ysi s, budget preparati on, management i nformati on systems
anal ysi s, fi nanci al management, management accounti ng, and audi ti ng i n government, fi nance
or i ndustry; management consul ti ng; audi ti ng i n publ i c accounti ng; research, teachi ng or
consul ti ng rel ated to management accounti ng or fi nanci al management.
i v. Empl oyment requi ri ng the occasi onal appl i cati on of management accounti ng
pri nci pl es such as i n computer operati ons, sal es and marketi ng, manufacturi ng, engi neeri ng,
personnel , and general management wi l l not sati sfy thi s requi rement.
v. Internshi ps and trai nee, cl eri cal , or non-techni cal posi ti ons do not provi de
appropri ate experi ence to ful fi l thi s requi rement.

Rel evant Poi nt > Students not havi ng requi red experi ence presentl y can al so
appl y si nce, the requi rement can be ful fi l l ed pri or or wi thi n seven years of
passi ng the exami nati on

c. Exam Requi rements >
There are two parts to the CMA exam, consi sti ng of four hours each, whi ch can be taken i n any order.
Exam i s structured as fol l ows:
PART I
Financial Planning, Performance
and Control
Pl anni ng, budgeti ng, and forecasti ng
Performance measurement
Cost management
Internal control s
Professi onal ethi cs
PART II
Financial Decision Making
Fi nanci al statement anal ysi s
Corporate fi nance
Deci si on anal ysi s and ri sk management
Investment deci si ons
Professi onal ethi cs

Al l three condi ti ons must be ful fi l l ed to be el i gi bl e to get CMA Certi fi cati on.

Relevant Points > If Experience requirement is fulfilled, the minimum duration is
approx 6 months (depends upon preparation).

Exam Centres
At Prometri c Testi ng Centres l ocated throughout the U.S. and Internati onal l y. Check at Prometri cs
websi te http://www.prometri c.com/ICMA/defaul t.htm.
Identi fi cati on Requi rements >

For admi ssi on to Prometri c Test Si te you must present a VALID (non-expi red) Passport for
admi ttance to exam,
OR

Two other ori gi nal forms of non-expi red i denti fi cati on, one wi th a photograph, both wi th your
si gnature.

Approved photo IDs are a dri ver's l i cense, mi l i tary ID, Nati onal country ID card, credi t card
wi th photo, Bank Debi t Card wi th si gnature or company ID.

Student IDs and soci al securi ty cards are not acceptabl e.

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Exam Format
Candi dates for CMA certi fi cati on must compl ete two exami nati on parts
Part 1: Fi nanci al Pl anni ng, Performance and
Control (4 Hours)
Part 2: Financi al Deci si on Maki ng (4 Hours)

>
100 mul ti pl e-choi ce questi ons (3 Hrs)
and
>
Two 30-mi nute essay questi ons (1 Hrs)
>
100 mul ti pl e-choi ce questi ons (3 Hrs)
and
>
Two 30-mi nute essay questi ons (1 Hrs)
>
Pl anni ng, Budgeti ng and Forecasti ng
(30%)
>
Performance Management (25%)
>
Cost Management (25%)
>
Internal Control s (15%)
>
Professi onal Ethi cs (5%)
>
Fi nanci al Statement Anal ysi s (25%)
>
Corporate Fi nance (25%)
>
Deci si on Anal ysi s and Ri sk Management
(25%)
>
Investment Deci si ons (20%)
>
Professi onal Ethi cs (5%)


The essays wi l l be presented after you have compl eted the mul ti pl e-choi ce secti on of the
exam or after 3 hours, whi chever comes fi rst.

Once you compl ete and exi t the mul ti pl e-choi ce secti on of the exam, you cannot go back. You
must remai n i n the essay secti on to compl ete the exam.

You MUST answer at l east 50% of the mul ti pl e-choi ce questi ons correctl y to be el i gi bl e to take
the essay secti on.

Candi dates are not requi red to pass both secti ons; the total score determi nes pass/fai l
status.

The scores wi l l be mai l ed approxi matel y 6 weeks after the cl ose of the testi ng wi ndow.

You wi l l recei ve feedback on your score onl y for the mul ti pl e choi ce secti on of the exam for
those who di d not pass the exam

Exam Pattern

Computer-based format.

Parts 1 and 2 wi l l be gi ven duri ng the fol l owi ng three testi ng wi ndow peri ods:
- January and February
- May and June
- September and October
If a candi date regi sters to test duri ng a speci fi c testi ng wi ndow and fai l s to take the exam, the
candi date must regi ster agai n and pay the FULL regi strati on fee


Course Fees
a. Entrance Fees > The Entrance fee i s $200.00 for Domesti c/Internati onal Members.
i . The Entrance Fee for the certi fi cati on program must be pai d before taki ng the
exami nati ons.
i i . Candi dates must compl ete the CMA program wi thi n 3 years from entry i nto the
program.
i i i . Candi dates al so must regi ster for an exam part wi thi n the fi rst 12 months of enteri ng
the program. If a candi date does not regi ster for an exam part wi thi n the fi rst 12 months of
enteri ng the program, they wi l l have to REPAY the entrance fee.
i v. If both exam parts are not successful l y compl eted wi thi n 3 years of enteri ng the
certi fi cati on program, the passed part wi l l expi re and the entrance fee wi l l have to be repai d.

Entrance Fee i ncl udes:
i . Si x months access to the CMA Support Package consi sti ng of sampl e questi ons and
answers and the CMA Assessment Tool .
i i . Performance feedback reports for the mul ti pl e choi ce questi ons
i i i . Revi ew of educati onal and experi ence credenti al s
i v. El ectroni c access to the CMA Resource Gui de
v. Fi nal score report upon compl eti on of the exams
vi . Certi fi cate upon compl eti on of al l requi rements
vi i . Empl oyer noti fi cati on of achi evement i f desi red
vi i i . Mai ntenance of conti nui ng educati on records

b. Exami nati on Fees >
i . The exam regi strati on fee wi l l be $350 per part.
i i . If a candi date regi sters for both parts at the same ti me for the same testi ng wi ndow,
the fee wi l l be $300 per part.
i i i . The entrance fee i s NOT Refundabl e.
i v. After 30 days from the date of regi strati on, exami nati on fees are NOT Refundabl e.
v. Wi thi n 30 days of the regi strati on date an exami nati on fee may be refunded i f no test
appoi ntment has been set. A $25 processi ng fee wi l l be subtracted from the refund.

Income Tax
Audit
Students
Accounts
VAT
Career
Service Tax
Corporate Law
Info Technology
Excise
Shares & Stock
Others
Taxpayers
Relevant Points > Examination fees is to be paid at the time of registration for
examination only.
> Total Course Fees amounts to approx $900.

Regi strati on Procedure
a. Enrol i n the CMA program by payi ng admi ssi on fees on l i ne through credi t card.
b. Regi ster for exam by payi ng exami nati on fees normal l y si x weeks before you wi sh to take an exam
as thi s wi l l al l ow suffi ci ent ti me for you to recei ve your authori zati on l etter and schedul e a conveni ent
appoi ntment at a Prometri c Testi ng Centre.
c. Regi strati on for Parts 1 and 2 recei ved on or after February 16
th
, June 16
th
, or October 16
th
wi l l
be authori zed for the next testi ng wi ndow; regi strati ons recei ved pri or to these dates wi l l be authori zed
for the current testi ng wi ndow.
d. Once you have recei ved authori zati on from ICMA, schedul e your appoi ntment at a Prometri c
Testi ng Centre wi thi n the stated ti me peri od. Log onto www.prometri c.com/ICMA to l ocate a testi ng
centre, schedul e, confi rm, reschedul e, or cancel your appoi ntment 24 hours, 7 days a week.
e. If you do not schedul e an appoi ntment i n the sel ected testi ng wi ndow, you wi l l forfei t your exam
fee.
f. Cancel your appoi ntment at www.prometri c.com/ICMA not l ater than 72 hours before the
appoi ntment. . If you do not compl y wi th thi s cancel l ati on pol i cy, you wi l l be consi dered a no-show
and you wi l l need to reregi ster wi th ICMA and repay the exami nati on fee.

Course Contents
Part 1 - Financial Planning, Performance and Control
A. Pl anni ng, Budgeti ng and Forecasti ng (30%) (Level C)
Pl anni ng process; budgeti ng concepts; annual profi t pl ans and supporti ng schedul es; types of budgets,
i ncl udi ng acti vi ty-based budgeti ng, proj ect budgeti ng, fl exi bl e budgeti ng; top-level pl anni ng and
anal ysi s; and forecasti ng, i ncl udi ng quanti tati ve methods such regressi on anal ysi s and l earni ng curves.
B. Performance Management (25%) (Level C)
Factors to be anal yzed for control and performance eval uati on i ncl udi ng revenues, costs, profi ts, and
i nvestment i n assets; vari ance anal ysi s based on fl exi bl e budgets and standard costs; responsi bi l i ty
accounti ng for revenue, cost, contri buti on and profi t centres; and bal anced scorecard.
C. Cost Management (25%) (Level C)
Cost concepts, fl ows and termi nol ogy; al ternati ve cost obj ecti ves; cost measurement concepts; cost
accumul ati on systems i ncl udi ng j ob order costi ng, process costi ng, and acti vi ty-based costi ng; overhead
cost al l ocati on; operati onal effi ci ency and busi ness process performance topi cs such as JIT, MRP, theory
of constrai nts, val ue chai n anal ysi s, benchmarki ng, ABM, and conti nuous i mprovement.
D. Internal Control s (15%) (Level C)
Risk assessment; i nternal control envi ronment, procedures, and standards; responsi bi l i ty and authori ty
for i nternal audi ti ng; types of audi ts; and assessi ng the adequacy of the accounti ng i nformati on system
control s.
E. Professi onal Ethi cs (5%) (Level C)
Ethi cal consi derati ons for management accounti ng professi onal s.

Part 2 - Financial Decision Making
A. Fi nanci al Statement Anal ysi s (25%) (Level C)
Pri nci pal fi nanci al statements and thei r purposes; l i mi tati ons of fi nanci al statement i nformati on;
i nterpretati on and anal ysi s of fi nanci al statements i ncl udi ng rati o anal ysi s and comparati ve anal ysi s;
market val ue vs. book val ue; fai r val ue accounti ng; i nternati onal i ssues; major di fferences between IFRS
and U.S. GAAP; off-bal ance sheet fi nanci ng; Cash Fl ow Statement preparati on, anal ysi s, and
reconci l i ati on; and earni ngs qual i ty.
B. Corporate Fi nance (25%) (Level C)
Types of ri sk; measures of ri sk; portfol i o management; opti ons and futures; capi tal i nstruments for l ong-
term fi nanci ng; di vi dend pol i cy; factors i nfl uenci ng the opti mum capi tal structure; cost of capi tal ;
rai si ng capi tal ; managi ng and fi nanci ng worki ng capi tal ; mergers and acqui si ti ons; and i nternati onal
fi nance.
C. Deci si on Anal ysi s and Risk Management (25%) (Level C)
Rel evant data concepts; cost-vol ume-profi t anal ysi s; margi nal anal ysi s; make vs. buy deci si ons; pri ci ng;
i ncome tax i mpl i cati ons for operati onal deci si on anal ysi s; operati onal ri sk, hazard ri sk, fi nanci al ri sk,
and strategi c ri sk; and ERM.
D. Investment Deci si on (20%) (Level C)
Cash fl ow esti mates; di scounted cash fl ow concepts; net present val ue; i nternal rate of return; non-
di scounti ng anal ysi s techni ques; i ncome tax i mpl i cati ons for i nvestment deci si ons; ranki ng i nvestment
projects; ri sk anal ysi s; real opti ons; and val uati on model s.
E. Professi onal Ethi cs (5%) (Level C)
Ethi cal consi derati ons for the organi zati on




Chartered Management Accountant
www.ci magl obal .com
www.ci magl obal .com
About CIMA

The Chartered Insti tute of Management Accountant (CIMA) Professi onal Qual i fi cati on provi des more strategy,
more management accounti ng and more rel evance across a broad busi ness perspecti ve. Wi th i ts emphasi s
on strategi c busi ness ski l l s, the CIMA Professi onal Qual i fi cati on i s a spri ngboard to success both wi thi n and
outsi de the fi nance arena. CIMA Chartered Management Accountants combi ne a hi gh l evel of fi nanci al and
management experti se wi th excel l ent busi ness acumen and deci si on-maki ng ski l l s.
The CIMA contact detai l s are -

Chartered Insti tute of Management Accountants
26 Chapter Street, London SW1P 4NP
Uni ted Ki ngdom
T. +44 (0) 20 8849 2251, F. +44 (0) 20 8849 2250
Emai l : ci ma.contact@ci magl obal .com
www.ci magl obal .com
CIMA Indi a
Uni t 1-A-1, 3rd Fl oor, Vi bgyor Towers, C-62,
G Bl ock, Bandra Kurl a Compl ex, Bandra
(East), Mumbai - 400 051, Indi a.
Tel : +91 22423 70100, Fax: +91 22423
70109
Emai l : i ndi a@ci magl obal .com

Sui tabi l i ty
Conducti ng i nternal busi ness audi ts, assessi ng ri sk and prepari ng fi nanci al statements, management
accounti ng. CIMA members are successful busi ness anal ysts, management consul tants and proj ect
managers.

CIMA Exams
Exam Pattern
a. You can onl y enter for the exams through the CIMA websi te.
b. There are 5 Level s of Exams
i . Entry Level - Certi fi cate In Busi ness Accounti ng 5 Papers
i i . Operati onal Level 3 papers
i i i . Management Level 3 Papers
i v. Strategi c Level - 3 Papers
v. Professi onal Competence Level 3yrs experi ence certi fi cate & 1 Case Study
Paper
c. Operati onal & Management Level exams can onl y be taken when you have compl eted the
Certi fi cate Level , by Computer Based Assessment or by exempti on. You can take the papers at
Operati onal & Management Level i n any order and you can si t as many of the si x papers at any one
si tti ng as you wi sh.
d. When you have compl eted the management l evel , you may enter for strategi c l evel papers. You
must take and submi t for marki ng al l three strategi c papers at your fi rst si tti ng. If you do not pass
al l the papers at your fi rst attempt you wi l l be credi ted wi th any passes that you are awarded, and
your remai ni ng paper(s) can be re-taken together or i ndi vi dual l y at a subsequent si tti ng. If you are
absent from one or more strategy papers at your first sitting due to illness or other
indisposition, you will need to provide an official document or certificate (for example,
from your doctor) to prove you were unable to sit the exam. This will ensure you then
receive credit for any papers that you pass
e. You are el i gi bl e to enter for T4-Part B Case Study when you have compl eted the strategi c l evel .
f. The pass mark for al l papers i s 50%.
g. Exam Timing - Certificate Level - Any time of the year.
All Other Levels Paper Based Exams May and November each year
Additional Computer Based Exams - Professional Competence Level March
& September
h. Award - Passi ng Operati onal Level - CIMA Diploma in Management Accounting
Passi ng Management Level - CIMA Advanced Diploma in Management Accounting.

Exempti ons
If you have already studied a relevant degree or qualification, you may be entitled to some
exemptions from CIMA exams under one of the routes listed below. (Exemptions are awarded
only at CIMAs discretion. CIMA cannot grant exemptions until you are a registered student.)
1) Accredited degree accelerated route - You are a graduate wi th a qual i fi cati on l i sted on the
database of CIMA accredi ted programmes.
General l y most of the B.Com & M. Com courses of the l eadi ng uni versi ti es are covered under the
database. Check the l i st through thi s l i nk by searchi ng for Indi a. Keep the uni versi ty name bl ank for
compl ete l i st of uni versi ti es i n Indi a. (As on date 82 Uni versi ti es are l i sted). Exemption List Database
2) Relevant degree accelerated route - You are a graduate of a degree programme that i s not on
the database, but i s rel ated to the CIMA syl l abus. Based on the degree certi fi cate and course
transcri pts, the degree wi l l be assessed for the exempti ons correspondi ng to the group i n thi s l i nk >
Exemptions not in Database. If accordi ng to CIMA, the degree fal l s i nto one of the groups, CIMA wi l l
contact you about any exempti ons awarded to you.
3) AAT accelerated route - You are an Associ ati on of Accounti ng Techni ci ans (AAT) student or
member.
member.
4) Open University accelerated route If Compl eted the Open Uni versi ty Certi fi cate i n Accounti ng.
5) CMGA accelerated route - You have an MBA. (CMGA Detai l s are gi ven bel ow.)
6) CPGA accelerated route - You are a member or passed fi nal i st of ICWAI or you are a member of
ICMAP. (CPGA Detai l s are gi ven bel ow.)
7) Professional qualification accelerated route If Pursui ng or i s Professi onal l y Qual i fi ed. (For
exempti on of CA, CS & ICWAI cl i ck here > Exemptions for CA, CWA Eligible for CPGA Route,
Exemptions for CS)
Note > If papers at Operati onal and Manageri al Level are exempt (Except CMGA & CPGA), then the
exempti on fees wi l l be charged for each subj ect exempt, whi ch i s the same as the exam fees.

Exam Contents at Each Level
Entry level: Certificate in Business Accounting
C01
Fundamental s of
management
accounti ng
C02
Fundamental s
of fi nanci al
accounti ng
C03
Fundamental s of
busi ness
mathemati cs
C04
Fundamental s of
busi ness
economi cs
C05
Fundamental s of
ethi cs, corporate
governance and
busi ness l aw
Cost
Determi nati on
Cost
Behavi our and
Break Even
Anal ysi s

Standard
Costi ng
Costi ng
and
Accounti ng
Systems

Fi nanci al
Pl anni ng and
Control

Conceptual
and
Regul atory
Framework

Accounti ng
Systems

Control of
Accounti ng
Systems

Preparati on
of Accounts
for Si ngl e
Enti ti es

Busi ness
Mathemati cs

Probabi l i ty

Summari si ng
and Anal ysi ng
Data
Inter
Rel ati onshi p
between
vari abl es

Forecasti ng

Fi nanci al
Mathemati cs

Spreadsheets
Goal s
and Deci si ons
of
Organi sati ons
The
Market System
and the
competi ti ve
process
The
Fi nanci al
System
The
Macro
Economi c
Context of
Busi ness
Ethi cs
and Busi ness
Ethi cal
Confl i ct

Corporate
Governance

Compari son of
Engl i sh Law
wi th al ternati ve
l egal systems
The Law
of Contract
The Law
of Empl oyment
Company
Admi ni strati on
and Finance
Computer Based Exams
Obj ecti ve Type Questi ons

Operational Level
E1 Enterprise Operation % P1 Performance
Operation
% P3 Financial
Operation
%
The Gl obal Busi ness
Envi ronment
20 Cost Accounti ng Systems 30 Pri nci pl es of
Busi ness Taxati on
60
Informati on Systems 20 Forecasti ng and
Budgeti ng Techni ques
10 Regul ati on and Ethi cs
of Fi nanci al
Reporti ng
25
Operati on Management 20 Project Apprai sal 25 Fi nanci al Accounti ng
& Reporti ng
15
Marketi ng 20 Deal i ng wi th Uncertai nty
i n Anal ysi s
15
Managi ng Human
Capi tal
20 Managi ng Short Tem
Fi nance
20
E1 Enterpri se Operati on
Syl l abus Detai l
P1 Performance Operati on
Syl l abus Detai l
P1 Fi nanci al Operati on
Syl l abus Detai l
There will be a written examination paper of three hours, plus 20 minutes of pre-
examination question paper reading time. The examination paper will have the
following sections:
Section A 20 marks - A variety of compulsory objective test
questions, each worth between two & four marks. Mini
scenarios may be given, to which a group of questions
relate.
Section B 30 marks - Six compulsory short answer
questions, each worth five marks. A short scenario may be
given, to which some or all questions relate.
Secti on C 50 marks - One or two compul sory questi ons. Short scenari os
may be gi ven, to whi ch questi ons rel ate.

Management Level
Management Level
E2 Enterprise
Management
% P2 Performance
Management
% P2 Financial
Management
%
Strategi c Management
& Assessi ng the
Competi ti ve
Envi ronment
30 Pri ci ng & Product
Deci si on
30 Group Fi nanci al
Statements
35
Proj ect Management 40 Cost Pl anni ng and
Anal ysi s for Competi ti ve
Advantage
30 Issues i n Recogni ti on
& Measurement
20
Management of
Rel ati onshi ps
30 Budgeti ng and
Management Control
20 Anal ysi s &
Interpretati on of
Fi nanci al Accounts
35
Control & Performance
Measurement of
Responsi bi l i ty Centres
20 Devel opments i n
External Reporti ng
10
E2 Enterpri se Management
Syl l abus Detai l
P2 Performance Management
Syl l abus Detai l
F2 Fi nanci al Management
Syl l abus Detai l
There will be a written examination paper of three hours, plus 20 minutes of pre-
examination question paper reading time. The examination paper will have the
following sections:
Section A 50 marks - Five compulsory medium answer
questions, each worth ten marks. Short scenarios may be
given, to which some or all questions relate.
Secti on B 50 marks - One or two compul sory questi ons. Short scenari os
may be gi ven, to whi ch questi ons rel ate.

Strategic Level
E3 Enterprise Strategy % P3 Performance Strategy % P3 Financial Strategy %
Interacti ng wi th the
Competi ti ve Envi ronment
20 Management Control
Systems
10 Formul ati on of
Fi nanci al Strategy
25
Change Management 20 Ri sk & Internal Control 25 Fi nanci al Deci si ons 30
Eval uati on of Strategi c
Opti ons
30 Revi ew and Audi t of
Control Systems
15 Investment Deci si on
and Proj ect Control
45
Impl ementati on of
Strategi c Pl ans
30 Management of
Fi nanci al Ri sk
35
Risk & Control i n
Informati on Systems
15
E3 Enterpri se Strategy Syl l abus
Detai l
P3 Performance Strategy
Syl l abus Detai l
F3 Fi nanci al Strategy
Syl l abus Detai l
There will be a written examination paper of three hours, plus 20 minutes of pre-
examination question paper reading time. The examination paper will have the
following sections:
Section A 50 marks - Five compulsory medium answer
questions, each worth ten marks. Short scenarios may be
given, to which some or all questions relate.
Secti on B 50 marks - One or two compul sory questi ons. Short scenari os
may be gi ven, to whi ch questi ons rel ate.

Professional Competence Level
Part A: work based practi cal experi ence
Mi ni mum of three years' rel evant work based practi cal experi ence before becomi ng chartered
management accountants. Experi ence may be drawn from any of the fol l owi ng three areas (but
a mi ni mum of 18 months must be gai ned wi thi n the core area):
Area 1 - Basic Experience Area 2 - Core Experience Area 3 - Supplementary
Experience
- Prepari ng and
mai ntai ni ng accounti ng
records
- Statutory and
regul atory reporti ng
- IT desktop ski l l s
- Systems and
procedure devel opment
- Preparati on of management
accounts
- Pl anni ng, budgeti ng and
forecasti ng
- Management reporti ng for
deci si on maki ng
- Product and servi ce costi ng
- Informati on management
- Proj ect apprai sal
- Proj ect management
- Worki ng capi tal content
- Risk management and busi ness
assurance
- Fi nanci al strategy
- Corporate fi nance
- Treasury management
- Taxati on
- Busi ness eval uati on
and apprai sal
- Busi ness strategy
- External rel ati onshi ps
assurance
Part B: case study exam
1) The exam i s based on a case study set i n a si mul ated busi ness context of one or more
fi cti onal organi sati ons. The context i n the case materi al i s based on a real busi ness or
i ndustry. The content i s mai nl y from the three strategi c l evel papers: E3, P3 and F3. It wi l l
al so draw on management and operati onal l evel content. It has no speci fi c syl l abus
content of i ts own.
2) There i s a wri tten three-hour exam, i ncl udi ng 20 mi nutes' pre-exam readi ng ti me,
wi th a l i mi ted number of questi ons, whi ch wi l l usual l y be answered usi ng a report, and/or
presentati on, wi th further supporti ng documents to a vari ety of users.
3) The questi ons wi l l be based upon:
i . The Pre-seen case study materi al , wi l l be publ i shed onl i ne at l east 6 weeks
before exam
i i . Further Un-seen materi al , whi ch wi l l be gi ven i n the exam.
4) You must score a mi ni mum of 25 credi ts (out of a possi bl e 50) to pass T4 Part B: the
case study exam.

Exam Centres Exam Centre Li st
In Indi a > Ahmadabad, Bangal ore, Cochi n, Hyderabad, Mumbai , Pune, Kol kata, New Del hi , Chennai .

Regi strati on Procedure
If you have deci ded that CIMA i s the route for you to progress your career, fol l ow thi s si mpl e process to
regi ster as a student. Checkl i st before Entry
a. Check the Entry Route (Level / CPGA / CMGA).
b. If you are starti ng wi th the certi fi cate i n busi ness accounti ng, fi nd your nearest computer
based assessment centre.
c. Fi nd your nearest exam centre. You must ensure that you can attend one of our exam centres
before regi steri ng for CIMA.
d. Once you have regi stered as a student onl i ne, appl y for any exempti ons you may be enti tl ed to.
e. You can regi ster onl i ne here. Onl i ne User Gui de

Course Fees

Registered students (from 1 July
2010)
GBP Amount Examination Fees GBP Amount
Regi strati on Fees 60 Entry l evel Certi fi cate 44 per subj ect
Student (1st year subscri pti on) Free Operati onal Level 69 per subj ect
Annual subscri pti on 90 Management Level 69 per subj ect
Re-regi strati on (If requi red) 60 Strategi c Level 74 per subj ect
T4 Subscri pti on Fees (for Fi rst 3
Years)
194 T4 95
Example, if it takes you three years to complete CIMA and you pass every exam on the first
attempt, it will cost around 1,200. {60 + (90*2) + (69*3) + 69*3) + (74*3) + 194 + 95}.

Some Relevant Points >
1. If Certificate Level is exempt, there in no need to pay fees for Certificate
Level. Also, the certificate level fees is not paid to CIMA, but directly charged by
the Computer assessment centre. (Exam Centre).
2. If papers at Operational and Managerial Level are exempt, then the
exemption fees will be charged for each subject exempt, which is the same as the
exam fees.
3. Re registration fees need to be paid, in case the registration is lapsed and
you require to re register.
4. Fees for CPGA & CMGA are mentioned differently with the relevant course
detail below.

CPGA Courses CPGA & CMGA Sampl e Paper
CPGA stands for CIMA professional gateway assessment. It is the assessment that you can
take in order to enter the CIMA professional qualification at the strategic level.

1. Eligibility - Ful fi l one of these cri teri a:
- ICWAI (Insti tute of Cost and Works Accountants of Indi a) students and members.
- ICMAP (Insti tute of Cost and Management Accountants of Paki stan) members.
- ICASL (Insti tute of Chartered Accountants i n Sri Lanka) members or passed fi nal i sts.
- ICMAB (The Insti tute of Cost and Management Accountants of Bangl adesh) members and
passed fi nal i sts
2. Registration Deadlines - You can regi ster as a CIMA student at any ti me. However, there are two
CPGA exams si tti ngs, i n May and November. Pl ease note the fol l owi ng regi strati on deadl i nes:
To si t the CPGA exam i n November 2010 you must regi ster as a student by 31 Jul y 2010.
To si t the CPGA exam i n May 2011 you must regi ster as a student by 25 February 2011.
To si t the CPGA exam i n May 2011 you must regi ster as a student by 25 February 2011.

3. Exam Syllabus - The CPGA syl l abus covers materi al from the Management l evel papers. The three
hour paper (pl us 20 mi nutes' readi ng ti me) has the fol l owi ng structure and syl l abus content:
Secti on A - three compul sory questi ons each worth 25 marks.
- P2 syl l abus area B - cost pl anni ng and anal ysi s for competi ti ve advantage
- E2 syl l abus area B - proj ect management
- F2 syl l abus area A - group fi nanci al statements
Secti on B - A seri es of obj ecti ve test questi ons total l i ng 25 marks, from al l other areas of the P2, E2
and F2 syl l abi not covered i n secti on A.
4. Pass mark - 50 marks.
5. Award - On passi ng the CPGA, you wi l l gai n 11 exempti ons from the CIMA professi onal
qual i fi cati on, and you wi l l be awarded the CIMA advanced di pl oma i n management accounti ng.
6. Exam Fees - Each exam si tti ng costs 40. Students wi l l not be requi red to pay exempti on fees for the
11 exempted papers. The student regi strati on fee and annual subscri pti on fee are the same as for al l
students.


CMGA Courses
CMGA stands for CIMA Management gateway assessment. Candi dates wi l l be requi red to pass just one
exam to achi eve a presti gi ous qual i fi cati on, the CIMA Advanced Di pl oma i n Management Accounti ng,
enti tl i ng them to the professi onal l etters CIMA Ad Di p MA. They can then progress to the fi nal l evel of
CIMA professi onal exams and (once they have passed, and professi onal experi ence requi rements have
been met) they become ful l members of the professi onal i nsti tute.

1. Eligibility Cri teri a are for
Exi sti ng CIMA students: i f you have not fai l ed any CIMA exams you wi l l be el i gi bl e for the CMGA
route. Pl ease note i f you deci de to take the CMGA route you may not then go back to the standard
entry route. Students must hol d an MBA from a l egi ti mate i nsti tuti on.
New CIMA students: you must hol d an MBA from a l egi ti mate i nsti tuti on.
2. Registration Deadlines - You can regi ster as a CIMA student at any ti me. However, there are two
CMGA exams si tti ngs, i n May and November. Pl ease note the fol l owi ng regi strati on deadl i nes:
To si t the CMGA exam i n November 2010 you must regi ster as a student by 31 Jul y 2010.
To si t the CMGA exam i n May 2011 you must regi ster as a student by 31 January 2011.

3. Exam Syllabus - The CMGA syl l abus covers materi al from the Management l evel papers. The three
hour paper has the fol l owi ng structure and syl l abus content:
Secti on A - three compul sory questi ons each worth 25 marks.
P2 syl l abus area B - cost pl anni ng and anal ysi s for competi ti ve advantage
E2 syl l abus area B - proj ect management
F2 syl l abus area A - group fi nanci al statements
Secti on B - A seri es of obj ecti ve test questi ons total l i ng 25 marks, from al l other areas of the P2, E2
and F2 syl l abi not covered i n secti on A.
4. Pass mark - 50 marks.
5. Award - On passi ng the CMGA, you wi l l gai n 11 exempti ons from the CIMA professi onal
qual i fi cati on, and you wi l l be awarded the CIMA advanced di pl oma i n management accounti ng.
6. Exam Fees CMGA exam si tti ng costs 500. Thi s package i ncl udes: regi strati on wi th CIMA, fi rst year
subscri pti on fees, one attempt at the CMGA exam and three CIMAstudy.com onl i ne study modul es (E2, P2
and F2).



CMA (US) CMA (UK) at a Gl ance i n the comparati ve and tabul ar format.

Topic Area CMA (Chartered Management
Accountant) (US)
CIMA Certified Management Accountant
(UK)
Websi te www.i manet.org www.ci magl obal .com
Insti tute Base Montval e, New Jersey 07645USA London SW1P 4NP, Uni ted Ki ngdom

El i gi bi l i ty Graduate or professi onal Educati on
al ong wi th experi ence *anyti me duri ng
or after exams)
Undergraduate, graduate, postgraduate,
professi onal determi nes the entry l evel .
Career
Sui tabi l i ty
Accounti ng and fi nanci al management
ski l l s, ri sk anal ysi s, i nternal control s,
fi nanci al deci si on maki ng
Internal busi ness audi ts, assessi ng ri sk
and prepari ng fi nanci al statements,
management accounti ng
Exam Pattern 2 Exams (Any order) 5 Level s (Depends upon Entry Level ) >
Certi fi cate Level 5 exams
Professi onal Level 10 Exams & Experi ence
Exam Centres Al l over the Worl d (Incl udi ng Indi a) Al l over the Worl d (Incl udi ng Indi a)
Exam Styl e Computer Based Exams Certi fi cate Level - Computer Based Exams
38
Published in Career
Source : Internet and Self Prepared
Views : 21179
Other Articles by Rahul Gupta
Swapna Billa Wrote on 12 December 2013
bharat Wrote on 13 July 2013
abhishek gupta Wrote on 18 April 2013
All Comments :: 26
Professi onal Level Wri tten Exams
Exam Ti mi ngs Three Testi ng Wi ndows (2 months
each) i n a year
May and November each year.
Course Cost Approx. $900 Approx GBP 1200 (Consi deri ng the 3
years ti me and passi ng exams i n 1
st
Attempt)
Course
Durati on
Approx Mi ni mum 6Months (Subj ect to
the experi ence requi rement ful fi l ment)
(Short Term)
Approx Mi ni mum 1-2 years (Depends
upon the entry l evel and exempti ons)
(Long Term)
Stoppi ng Poi nts
Benefi ts
No Benefi ts Passi ng Operati onal Level - CIMA
Di pl oma i n Management Accounti ng
Passi ng Management Level - CIMA
Advanced Di pl oma i n Management
Accounti ng.

Disclaimer > The contents menti oned above are compi l ed through the i nformati on avai l abl e on the respecti ve
Internet si tes. Pl ease hi ghl i ght any poi nts, whi ch you woul d l i ke to add as a part of your experi ence for the benefi t
of the course aspi rants. Al so, In respect of any mi stakes for anythi ng, pl ease hi ghl i ght i t and I hereby regret for
that.
Feedback > Agai n, l ooki ng forward to your feedback, suggesti ons, i mprovements, i ncl usi ons, del eti ons or any sort
of i nformati on whi ch you thi nk has been wrongl y i nterpreted or can be added up and can provi de more cl earance
i n understandi ng the structure of the above courses.
Compi l ed by CA Rahul Gupta
rahul gupta45@gmai l .com
05/07/2010
26 Comments for this Article
You need to be logged in to post comment
I am a qualified CA (Nov 2012). I am currently working for an MNC in India. I
am interested go for sme other course too. Can anyone please advise on
various professional courses available like CMA, CIMA, CPA, CFA, etc. along
with my career later.
Where i could get updated study material , can anyone mail me on
ica.bharat@gmail.com
great job. pl send it at my email id abhishekgupta371@gmail.com
Show more Comments
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