CIMA exam structure

CIMA is a training program designed for those who want to learn more about management accounting. To sit for the CIMA exam, one must hold a CIMA-issued certificate in Business accounting or a master's degree (equivalent accounting certificate). Officially known as the Professional Qualification, the CIMA Exam consists of 3 levels:

Operational Level
The operational level includes the implementation of the strategy, as well as reporting on the implementation of the strategy. This level covers the role of junior accountants - strategy implementation and related reporting.

Candidates will learn how to prepare financial statements, present management accounting information and use relevant tools to make business decisions.

The objective tests at this level are:
Organizational Management (E1)
Management accounting (P1)
Financial Reporting and Taxation (F1)

On completion of this level you gain the CIMA Diploma in Management Accounting.

Management level
The management level conveys the strategy decided at higher levels to lower levels for implementation.

Candidates will learn to prepare group accounts, make pricing and product decisions, and manage projects and relationships.

The 3 objective tests are:
Project and Relationship Management (E2)
Advanced Management Accounting (P2)
Advanced Financial Reporting (F2)

On completion of this level you gain the CIMA Advanced Diploma in Management Accounting.

Strategic level
The strategic level focuses on making strategic decisions and providing the context in which those decisions will be implemented. Candidates learn how to formulate a financial strategy, manage strategic relationships, identify and manage risk.

The 3 objective tests are:
Strategic Management (E3)
Risk Management (P3)
Financial Strategy (F3)

Each level consists of three steps:

Enterprise pillar
This level covers the topics of organization management. The enterprise level deals with strategy formulation as well as its effective execution.

Performance pillar (Performance pillar)
This level covers management accounting topics. The performance tier uses management accounting and risk management tools and methods to ensure that the strategy is true and to monitor its execution.

Financial pillar (Financial pillar)
This step covers financial reporting topics. At this level, regulatory frameworks and external reporting requirements are evaluated, as well as the construction of complex financial statements to show the organization's financial position and activities.

Exam structure
Objective Tests
Candidates may take the Objective Tests in any order at each level, but they must pass all 3 tests before taking the Situational Analysis test at that level.

Each test is 90 minutes long and consists of multiple choice questions.

Situation analysis
Unlike Objective Tests, Situational Analysis exams combine knowledge and preparation on 3 levels.

Each exam is 3 hours. Candidates are required to submit short answers and essays.