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CIMA syllabus changes 2019

There has been a CIMA syllabus update to include more real world learning for the finance function, focusing on areas that are more relevant to the current business environment.

You don’t need to worry about the changes as we can guide you through this year, and what options you have going forward. The main thing is to keep studying.

Read about the syllabus changes, and what you might need to think about, below.

What is changing?

The updated syllabus includes how the digital world affects finance - this can be seen through the introduction of digital costing and digital strategy. Topics such as cybersecurity and business models have also been incorporated. Existing areas, such as integrated reporting, have been expanded to reflect their growing prominence.

CIMA has introduced new topics in many of the levels. For example in E1: Managing Finance in a Digital World, around 60% of the syllabus is new.

The updates have been introduced to reflect the modern business world, making sure that you’re equipped with the most up to date knowledge to get ahead in your career.

How these changes will affect you will depend on where are you are up to with your studies. But don’t panic - we have the resources to help you through the changes, and fill in any knowledge gaps you might have.

When do the changes take effect?

The last time you can sit a Case Study on the current syllabus will be the November 2019 exams, with the option to resit under the current syllabus in February 2020 if you are not successful. Objective Tests will switch over to examine the new syllabus from 4th November 2019, with no option to resit under the current syllabus if you previously took an exam and failed. Exam entry closes towards the end of October 2019, depending on which Case Study exam you’re sitting, and you need to have taken and passed all of your Objective Tests at least 72 hours before the deadline to book your Case Study exam.

What are the syllabus changes?

  • Certificate

    • There are no changes to the Certificate syllabus, but the changes in Operational will impact your next steps.

      If you are currently sitting your first or second Objective Test, you don’t need to worry about the syllabus changes.

      If you are sitting your final Certificate Objective Test and are wondering about your next steps into Operational, we recommend that you sit F1 and P1 before the syllabus change, and E1 and Case Study under the new syllabus. E1 has the most changes to it, so if you do E1 and Case Study after November 2019, you won’t have a significant knowledge gap.

      CIMA has produced a transition advice tool that you can access to help you plan your studies.

  • Professional Operational

    • E1: Managing Finance in a Digital World (formerly Organisational Management)

      Around 60% of the E1 syllabus is changing, with the main focus on all things digital.

      Syllabus areas

      • Role of the finance function
      • NEW - Technology in a digital world
      • NEW - Data and information in a digital world
      • NEW - Shape and structure of the finance function
      • Finance interacting with the organisation
    • P1: Management Accounting

      There aren’t significant changes in the P1 syllabus, but the focus will be on digital issues in costing.

      Syllabus areas

      • Cost accounting for decision and control
      • Budgeting and budgetary control
      • Short term commercial decision making
      • Risk and uncertainty in the short term
    • F1: Financial Reporting (formerly Financial Reporting and Taxation)

      Relevant accounting standards will still be examined.

      Syllabus areas

      • Regulatory environment of financial reporting
      • Financial statements*
      • Principles of taxation
      • Managing cash and working capital

      *Group accounts have been removed from the previous syllabus and placed in F2

    • Transitional advice

      CIMA has produced a transition advice tool that you can access to help you plan your studies. If you have any problems, our support advisors will be able to help. You can contact them at enquiries@cimastudy.com.

  • Professional Management

    • E2: Managing Performance (formerly Project and Relationship Management)

      Around 30% of the E2 syllabus is new, introducing business models for the first time. There is now much less on traditional strategy management and more on ecosystems and value management.

      Syllabus areas

      • NEW - Business models and value creation
      • Managing people performance
      • Managing projects
    • P2: Advanced Management Accounting

      A few changes, with a shift in focus towards digital technologies and digital transformation. Learning curves are no longer included.

      Syllabus areas

      • Managing the costs of creating value
      • Capital investment decision making
      • Managing and controlling the performance of organisational units
      • Risk and control
    • F2: Advanced Financial Reporting

      Two additions to the F2 syllabus, with the introduction of Integrated reporting and group accounts (previously part of F1). The approach has been modified in the new F2 to bring additional focus on digital issues in financing capital projects and in analysing financial statements.

      Syllabus areas

      • Financing capital projects
      • Financial reporting standards
      • Group accounts
      • NEW - Integrated reporting
      • Analysing financial statements
    • Transitional advice

      CIMA has produced a transition advice tool that you can access to help you plan your studies. If you have any problems, our support advisors will be able to help. You can contact them at enquiries@cimastudy.com.

  • Professional Strategic

    • E3: Strategic Management

      Around 30% of the syllabus is new, with a focus on digital strategy to enable transformation of an organisation.

      Syllabus areas

      • NEW - The strategy process
      • Analysing the organisational ecosystem
      • Generating strategic options
      • Making strategic choices
      • Strategic control
      • NEW - Digital strategy
    • P3: Risk Management

      Around 30% of the syllabus is new, introducing cyber security and more on strategic risk. Financial Risk management moves to F3, with management control systems being removed from the syllabus.

      Syllabus areas

      • Enterprise risk
      • Strategic risk
      • Internal controls
      • NEW - Cyber risks
    • F3: Financial strategy

      Around 25% of the syllabus is new, including cash flow and capital investment decision risks (moved from P3). Additional focus is being placed on valuation of intangibles under business valuation, whilst hedge accounting is no longer included.

      Syllabus areas

      • Financial policy decisions
      • Sources of long term funds
      • NEW - Financial risks
      • Business valuation
    • Transitional advice

      CIMA has produced a transition advice tool that you can access to help you plan your studies. If you have any problems, our support advisors will be able to help. You can contact them at enquiries@cimastudy.com.

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