Management Level Exam Blueprints 2023 2024 Final For Web

Management level
examination blueprint
Incorporating Management Case Study
Examination, E2, P2 and F2 Objective Tests
Objective tests from January 2023 to January 2024

Case study examinations in May, August, November
2023 and February 2024
Introduction
Blueprints to the future Along with explaining the Examinations’ key features, it Arriving at the blueprint
lists the competencies, skills and knowledge necessary
In a rapidly digitising ecosystem the competencies to pass the Case Study Examination and Objective As automation and digital platforms take over and reshape The CGMA Professional Qualification is made up of
expected from finance professionals are radically Tests; apprises educators about the knowledge and some of the core finance functions, we wanted to three levels – Operational, Management and Strategic.
different. CIMA has been at the forefront of equipping
®
skills needed to pass the examination; aligns understand the future of the profession. We set out Each level imparts knowledge and business acumen
finance professionals with the aptitude and the employers with the capabilities of the candidates; and, on a yearlong research — consulting with finance that’s expected out of a finance professional working at an
attitude that drives businesses forward. And with the above all helps us keep the examinations current, professionals across the world to know what the future entry level, managerial level or at a senior leadership level.
2019 Professional Qualification, we seek to give relevant and up to date with the latest standards. of finance looks like and, more importantly, what
At the end of each level, learners have to take a Case
learners the skill set and the mindset to be resilient businesses need to thrive.
As our most comprehensive statement to date on Study Examination – a business simulation of real-life
and ready for the future.
CGMA Professional Qualification Examinations, one of In a digitally disrupted business environment, it’s even job tasks that someone at that level is expected to
Passing each of the three levels of the CIMA’s CGMA the core purposes of the blueprints is to assist learners more important that finance professionals shift their focus perform. In addition, the purpose of the Case Study
Professional Qualification is the litmus test against in getting into the mindset the examination demands. from foundational and intermediate proficiency level, Examination is to assess the candidate’s proficiency in
which employers evaluate a candidate’s capabilities to to applying a higher-level expertise. The 2019 those specific skills that are less likely to be automated.
drive organisational success. Professional Qualification is a result of these research The Case Study Examination blueprints articulate the
Improving employability – now and findings and has been designed to drive employability business simulation through the core activities and
For the first time, CIMA is releasing blueprints for its
Professional Qualification Examination. The blueprints
in the future and continued growth. assessment outcomes. The Objective Test blueprints
state the job tasks through the representative task
will demystify the examination – giving greater clarity The purpose behind the updated 2019 Professional
statements. As a result, learners are clear about the
on examinable topics; assessment approach, design Qualification is to ensure the relevance of the finance
basis for each type of assessment.
and weightings; and learner expectations. The professional. In a business environment where digitisation
blueprints won’t just aid learners taking the is reshaping and reimagining more and more roles, we
examination, but will also orientate learning partners are looking to build capabilities, enhance competencies,
and employers about the judging parameters and the drive the employability and add to the confidence of a
capabilities of finance professionals for tomorrow. CGMA-qualified finance professional.
For learners at the Management level, the blueprint will
The purpose — setting expectations introduce them to the skills they will need to translate
The examination blueprints give learners the clearest long-term decisions into medium-term plans. Just as
expression of what is expected of them in the CGMA a finance professional working at this level, learners
Professional Qualification Examinations. It tells learners will be shown how to use technology and data to
what to prepare for and how to prepare for the Case manage organisational and individual performance,
Study Examinations and the Objective Tests. Working allocate resources and prepare financial statements to
in tandem with the syllabus document, it aids the show performance among other responsibilities.
learner in anticipating the type of questions to expect
The ‘I Can’ statements, which reflect the competencies
in the examination.
of a learner at the end of a Case Study Examination
and the representative task statements that emerge
from the successful completion of Objective Tests —
correspond directly with what employers are looking
for and businesses need to transform and thrive.
1 Management level examination blueprint 2

Contents
Getting the skill sets and the mindset Driving employability through simulation 5. Outline 24. Acquiring the knowledge, skills and techniques
that matters Case Study materials are provided well in advance of required of the finance manager role –
the actual examination so that learners can immerse 6. Effective dates and examinable standards Management level objective tests
The fundamentals and the skills acquired through
each subject will be tested in the Objective Tests. themselves into its context. The pre-seen materials
w Exam period covered w Test purpose
Questions can be asked across the whole breadth of provide an opportunity for learners to consider their
previous studies in the context of the workplace and w International Accounting Standards and
the Syllabus, and the tests are weighted based on w Understanding the blueprint
remembering, understanding and application with explore the links between the individual subjects as Exposure Drafts
part of their research and preparation for the Case w Objective Tests blueprints
some analysis and evaluation in highly structured
scenarios. Learners must pass the Objective Tests to Study Examination. The Case Study Examination 7. Developing the blueprints
w E2: Managing Performance
move on to the Case Study Examination. presents challenges and situations that a finance
professional will encounter and employers have 8. Management level examination – An overview w P2: Advanced Management Accounting
While the Objective Tests check that learners have the identified as critical at that level. w F2: Advanced Financial Reporting
best knowledge and skill set to tackle a situation, w The CGMA Professional Qualification
what’s equally important is having the right attitude The Management level Case Study Examination w Examination approach
assesses the learner on five core activities that are the w CIMA’s approach to assessment
and mindset to affect and influence decisions, actions w Structure and format
and behaviours. The Case Study Examination gives most frequent, important and critical to the work of the w Management Case Study Examination
learners ample opportunities to demonstrate these finance manager. These include evaluating w Item types
opportunities to add value, implementing senior w Management level Objective Tests
traits and an awareness and understanding of their w Reference materials
simulated organisation and the ecosystem in which it management decisions, managing performance and
costs to aid value creation, measuring performance, 11. Assessing skills w Marking, grading and feedback
operates. To be successful in the examination – and
by extension in the real world of work — a learner is and managing internal and external stakeholders. w Skill levels and verbs w Candidate experience
also required to demonstrate qualities and Successfully completing these activities is directly
competencies such as leadership, professional reflected in the ‘I Can’ statements that showcase the
14. Simulating the role of the Finance Manager – 48. Glossary
judgment and ethical awareness. competencies acquired by a successful learner.
The Management Case Study Examination
The CGMA Professional Qualification Examination 49. Appendix — International accounting standards
w Examination purpose
The Case Study Examination — Blueprints are pointers to the direction the future of
finance will take. With the needs of the employer and
demonstrating the aptitude and the needs of a digitising business landscape at its core,
w The simulation
the attitude the 2019 Professional Qualification seeks to build w Simulating the role of the finance function
capabilities, future-proof skills, improve employability w Finance manager – simulating the role
The Case Study Examination tests the knowledge,
and create finance professionals who will be
skills and techniques from the three pillars within one w Finance manager – simulating the job tasks
navigators of disruption. It is yet another step from
simulated scenario, and is taken at the end of each
CIMA to help and partner you in leading the w Mindset of the CGMA finance professional
level of the CGMA Professional Qualification.
transformation – go beyond limits, beyond insights
Candidates are given a fictional Case Study before the w Understanding the blueprint
and beyond expectations.
examination, and are expected to give solutions to the
w Management Case Study Examination blueprint
situations and challenges presented within the
examination — based on the knowledge and skills w Examination approach
acquired from the three subjects. The Case Study
mimics their role in a real-work scenario, at each level w Structure and format
of the qualification. w Item types
The Management level Case Study Examination w Reference materials
simulates the role of a finance manager. Learners who
w Marking, grading and feedback
complete this level are awarded the Advanced Diploma
in Management Accounting. w Candidate experience
3 Management
Strategic level examination blueprint 4
Effective dates and
Outline examinable standards
This is the examination blueprint for the Management This blueprint sets out the examinable content and The blueprint is based on the 2019 Professional Examination period covered
level of the CGMA Professional Qualification. It will set assessment structure for the Management level Case Qualification Syllabus and will be examined for the first
out in detail what is examinable in the Case Study Study Examination and Objective Tests for: time in November 2019 with the Objective Tests and in Objective tests from January 2023 to January 2024
Examination and the Objective Tests for the period February 2020 with the Case Study Examinations. Case study examinations in May, August,
w E2: Managing Performance
stated on the cover of this document. It also provides November 2023 and February 2024
information about the format, structure and weightings w P2: Advanced Management Accounting
of the assessments. It complements the syllabus This is the fourth release of the examination
w F2: Advanced Financial Accounting blueprint for the 2019 Professional Qualification
document and provides details specifically related to
the different type of assessments and is our most You can find the blueprints for the Operational and Syllabus. Any updates to the blueprint document in
comprehensive statement to date on CIMA’s Management level here. future publications will be detailed here.
examinations. For more information on the operational and
The purpose of the examination blueprint is to: administrative aspects of the examination please
refer here. Version number Date first published Summary of changes
w Explain the key features of the examination.
w Describe how the examination was developed in 1 31 January 2019 N/A
consultation with employers.
1.1 30 August 2019 Page 28 — E2 deleted duplicate section 3. How to
w Document the competencies, skills and knowledge manage relationships.
necessary to pass the Case Study Examination. Page 44 — F2 corrected section 1.c to ‘The
w Assist learners in preparing for the examination. International integrated reporting framework’.
Page 47 — P2 delete bullet point ‘Learning Curve’.
w Apprise educators about the knowledge and skills Other minor weblink updates.
learners will need to pass the examination.
2 30 August 2019 Cover - updated examinable period dates
w Apprise employers of what passing learners can do.
Pg 21, 47, 48 - minor text and web link changes
w Guide the development of examination tasks Appendix - update mapping for IFRS 15, and IAS 38
and questions.
3 31 July 2021 Cover and pg 6 - updated examinable dates
4 31 July 2022 Cover and pg 6 - updated examinable dates
International Accounting Standards For Case Study Examinations, where individual

standards will not normally be directly assessed
and Exposure Drafts and where marking can accommodate a variety of
The examination will be set in accordance with approaches, learners may refer to new standards
relevant International Accounting Standards and before the effective date where early adoption is
International Financial Reporting Standards. This also permitted.
applies to the material relating to Financial Reporting
Exposure Drafts.
As a general rule, CIMA will examine such standards
from the effective date. Details of specific standards
that are examinable for the period covered by this
blueprint document will be clearly stated in the
Objective Tests blueprints below.

Developing the Management level
exam blueprints examination — an overview
With new technology and digital platforms playing a These extensive discussions and multiple layers of The CGMA Professional Qualification
greater role in the way businesses and their finance consultations ensured that what is included and
function operates, we wanted to identify the future emphasised are indeed the knowledge, skills and Our overriding objective in designing the CGMA CGMA Professional Qualification ensures that
direction of the finance function. The yearlong research techniques that are most in-demand with employers. Professional Qualification is to enhance the members are ready to support and lead their
spanning 150 countries featuring over 5,500 finance At the heart of it, both the syllabus and the blueprints employability of learners and members by creating a organisations, through the challenging environment of
professionals in 200 organisations opened up insights work together to drive employability and learning system that enables them to acquire skills, continuous change. The syllabus, assessments and
into the future of finance, and more crucially an organisational performance. competencies and the mindset that are in high demand practical experience requirements ensure members are
understanding of the future needs of businesses with employers. This is more important than ever, not only competent in the essential accounting, finance
The blueprints will be reviewed and updated on an keeping in mind the increasing pace of change and and business-related skills, but also in the skills
and employers globally. The 2019 Professional
annual basis to ensure CIMA’s Examinations remain traditional roles being redefined by technology and required to lead the finance function in a digital age.
Qualification is rooted in this research and its findings.
focussed on the skills organisations most value in their digital advances.
The updated syllabus sets out the body of knowledge, The Management level focusses on the role of the
finance professionals.
skills and techniques that employers and The CGMA Professional Qualification is divided into finance manager and focuses on translating long-term
organisations value and need. You can get the PDF with the full details of the research, three levels – Operational, Management and Strategic. decisions into medium-term plans. Candidates will be
here: Accounting in extraordinary times: the future Each of these levels consist three pillars of domain able to use data and relevant technology to manage
By collaborating with learning partners, test design
of finance knowledge – Enterprise, Performance and Financial. organisational and individual performance, allocate
experts and psychometricians, we translated the syllabus
content into core activities, assessment outcomes and Passing each level of the qualification confirms a resources to implement decisions; monitor and report
representative task statements. Based on this, we candidate’s capabilities to perform the tasks at that implementation of decisions; as well as prepare and
produced the draft blueprints that provides a clearer level in the workplace to the highest standards. When interpret financial statements to show performance.
direction on the approach to be taken in examinations. combined with the required practical experience, the
We discussed the draft with learning providers and key

stakeholders, and as a final step surveyed CIMA
members worldwide to validate the draft and to inform
the final decisions about the blueprints and examination
design such as weightings.

CIMA’s approach to assessment Management level Objective Tests
AWARD: Membership of the Chartered Institute of Management
Accountants (ACMA/FCMA) and the CGMA® designation
Each level of the CGMA Professional Qualification Three Objective Tests underpin the Management Case
culminates in a Case Study Examination, which integrates Study Examination, one for each of the professional
the knowledge, skills and techniques from across the qualification subjects. The Case Study Examination
Assessment of practical experience requirements (PER) three pillars into one synoptic capstone examination. The can only be attempted after all Objective Tests for the
Case Study Examination is a role simulation. It requires level have been completed successfully or exemptions
Strategic candidates to perform authentic work-based activities have been given.
Strategic Case Study Exam
Level presented during the course of the examination,
Within each level, learners are free to study and take
drawing together learning from each of the three
objective tests in any order they wish. CIMA’s
subjects to provide solutions to the issues and
suggested order of study is to begin with the
challenges asked. Case Study material is provided in
Enterprise pillar subject, then move to the Performance
E3 P3 F3 advance, so that learners can immerse themselves in
pillar subject and then to the Financial pillar subject.
Strategic Risk Financial the fictional organisation and industry for the
The qualification has been designed so that, at each
Management Management Strategy simulation and can analyse the organisation’s current
level, the Enterprise pillar gives the broad context in
position prior to the examination.
which the Performance and Finance pillars operate.
Management AWARD: CIMA’s Advanced Diploma in Management Accounting (CIMA Adv Dip MA)
The Case Study Examination, at each level, simulates The Performance pillar provides the context of what
Level the job role linked to the level and focusses on the core Management Accountants do within an organisation,
activities which employers expect competent and the Finance pillar considers the reporting and the
Management Case Study Exam
individuals in those roles to perform. implications of this activity. It is for these reasons that
Practical experience / lifelong learning

this order is suggested.
Objective Tests for each of the individual subjects
ensure the acquisition of the breadth of knowledge, For example, CIMA would recommend students
E2 P2 F2 skills and techniques which provide the foundation for studying the Management Level to start with E2,
Managing Advanced Management Advanced Financial approaching the Case Study Examination. then move to P2 and then to F2 before sitting the
Performance Accounting Reporting Management Case Study examination.
Management Case Study Examination
Operational AWARD: CIMA’s Diploma in Management Accounting (CIMA Dip MA)
Level At the Management level, the role simulated is that
of a finance manager. The capstone Case Study
Operational Case Study Exam
Examination provides a simulated context allowing
candidates to demonstrate that they have acquired the
E1 P1 F1 required knowledge, skills, techniques and the mindset
required for that role.
Managing Finance Management Financial
in a Digital World Accounting Reporting The Advanced Diploma in Management Accounting is
awarded at the completion of the Management Case
Enterprise pillar Performance pillar Financial pillar Study Examination.
Certificate AWARD: Certificate in Business Accounting (Cert BA)

Level
BA1 BA2 BA3

Fundamentals of Fundamentals of Fundamentals of
Business Economics Management Accounting Financial Accounting
BA4 Fundamentals of Ethics,

Corporate Governance and Business Law

Assessing skills
CIMA has adopted a skill framework for the Skill levels and verbs
assessments based on the revised Bloom’s Taxonomy
of Education Objectives. Bloom’s Taxonomy classifies The following table details the verbs included in the Examinations and maps these to the four skill levels
a continuum of skills that learners are expected to blueprints for both Objective Tests and Case Study that will be used for the purposes of assessment:
know and demonstrate.
Skill level Verbs used Definition

Level 5 Evaluation Advise Counsel, inform or notify
The examination or Assess Evaluate or estimate the nature, ability or quality of
assessment of problems, Evaluate Appraise or assess the value of
and use of judgment to Recommend Propose a course of action
draw conclusions Review Assess and evaluate in order, to change if necessary
Select Choose an option or course of action after
consideration of the alternatives
Level 4 Analysis Align Arrange in an orderly way

The examination and study Analyse Examine in detail the structure of
of the interrelationships of Communicate Share or exchange information
separate areas in order to Compare and Show the similarities and/or differences between
identify causes and find contrast
evidence to support inferences Develop Grow and expand a concept
Discuss Examine in detail by argument
Examine Inspect thoroughly
Monitor Observe and check the progress of
Prioritise Place in order of priority or sequence for action
Produce Create or bring into existence
Level 3 Application Apply Put to practical use
The use or demonstration Calculate Ascertain or reckon mathematically
of knowledge, concepts or Conduct Organise and carry out
techniques Demonstrate Prove with certainty or exhibit by practical means
Determine Ascertain or establish exactly by research or calculation
Perform Carry out, accomplish, or fulfil
Prepare Make or get ready for use
Reconcile Make or prove consistent/compatible
Record Keep a permanent account of facts, events
or transactions
Use Apply a technique or concept
Level Remembering and Define Give the exact meaning of
1/2 understanding Describe Communicate the key features of
The perception and Distinguish Highlight the differences between
comprehension of the Explain Make clear or intelligible/state the meaning or
significance of an area purpose of
Footnote:
using knowledge gained Identify Recognise, establish or select after consideration
Blooms taxonomy Illustrate Use an example to describe or explain something
List Make a list of
Revised taxonomy see Anderson, L.W. (Ed.), Krathwohl, D.R. (Ed.), Airasian, P.W., Cruikshank, K.A., Mayer, R.E., Pintrich,
Recognise Identify/recall
P.R., Raths, J., & Wittrock, M.C. (2001). A taxonomy for learning, teaching, and assessing: A revision of Bloom’s
State Express, fully or clearly, the details/facts of
Taxonomy of Educational Objectives (Complete Edition). New York: Longman. For original taxonomy see Bloom, B.S.
Outline Give a summary of
(Ed.), Engelhart, M.D., Furst, E.J., Hill, W.H., & Krathwohl, D.R. (1956). Taxonomy of educational objectives: The
Understand Comprehend ideas, concepts and techniques
classification of educational goals. Handbook 1: Cognitive domain. New York: David McKay.

Simulating the role of a finance
manager — the Management
Case Study Examination
Examination purpose The simulation
The CGMA Case Study Examinations are capstone The simulation is made up of three broad parts:
examinations designed to demonstrate mastery of w The role of finance
previously acquired knowledge, skills and techniques
w The role simulated
and the drawing together of these to provide solutions
to unstructured problems. By their position and design w The job tasks simulated
they are synoptic. The simulation will require learners to demonstrate
Each synoptic assessment combines the content that they have acquired the knowledge, skills and
covered in the three pillar subjects at the level into a mindset of the CGMA finance professional along with
single assessment. Its aim is the “undoing” of the pillar an appreciation of the impact of the features of the
and subject divisions of the syllabus and the simulation (the context, organisational structures and
application of knowledge, skills and techniques environment and ecosystem within which the
together with the mindset of a CGMA finance organisation operates).
professional. It challenges learners to provide solutions
to the type of problems that they would encounter in
the workplace for the job role matched to the level of
the professional qualification.
The examination uses a simulated Case Study to
provide a rich, immersive scenario to prepare and to
provide a context for the tasks in the examination.
The scenarios are developed around today’s modern
business environment and the challenges that
candidates will face – allowing them to demonstrate
the core activities that have been identified by
employers as critical.
Examination tasks will be practical and applied, not
theoretical or academic. To be successful, candidates
will have to perform the core activities in the same way
and to the same standards that would be valid and
valued in the workplace.
Management level examination blueprint 14

Simulating the role of the Finance manager — simulating the role
finance function The role simulated is that of a finance manager.
The finance function has a mandate to go beyond its At the heart of the finance function are basic activities
core historical accounting role. This changing mandate — the function’s DNA. Whether you are assessing
doesn’t discard core accounting; it’s still an essential finance risk, reconciling accounts or compiling
foundation of the finance function. However, enabled management information reports, the process The manager has to collaborate with colleagues from finance and other
by new technologies, the function is now capable activities remain constant. disciplines to make decisions concerning investment projects, product
of assessing a broader range of information and As a manager with development and product pricing and relies on the output of junior colleagues
is becoming a more influential player within responsibility for monitoring on matters such as cost drivers to formulate optimal recommendations. The
an organisation. and implementing of strategy responsibilities require a sound understanding of the business environment,
the job focus is on the medium including the opportunities arising in the digital ecosystem and is required to
term, this involves translating measure and report on the performance of individuals and divisions. There is
the long-term strategy that has also an expectation to evaluate business risks.
Figure 1: Basic finance activities from information to impact
been decided at the senior
Being involved in the accounting
management/board level into
decisions that affect the
medium-term, tactical goals,
Analyse Advise Apply preparation and content of the
making full use of technologies
consolidated financial
Information Insight Influence Impact to derive information that can
statements prepared by the
be of value in evaluating
company, the manager’s duties
business opportunities,
require the exercise of
including the implementation
Assemble Acumen professional judgement, as
of cyber technologies in order
recommendations and decisions
to evaluate business processes
can have a significant impact on
and to create and enhance
the actions of both internal and
value for the company
Finance works Finance works external decision makers. The
in isolation with others manager’s successful
performance requires strong
communication skills. The need
to inform key decisions may raise
More automatable activities Less automatable activities
significant ethical dilemmas that
must be resolved in a justifiable
and professional manner.
At all levels of the CGMA qualification, learners are

expected to create information, insight, influence and
impact. However, the scope, reach and nature of this
activity varies by level and is defined in the role simulation
and by the core activities defined for that role.

Finance manager – simulating the Finance manager –mindset of the Understanding the blueprint
job tasks CGMA finance professional The Case Study Examination blueprint articulates the w Assessment outcome – A clear assertion of what a
Within each Management Case Study Examination, The Case Study Examination allows the opportunity to synoptic relationships across the three pillars for the CGMA-qualified finance professional can do when
five core activities will be assessed. These core demonstrate technical knowledge applied to a level. Its core activities are integrated and the Examination has been completed and what the
activities represent the tasks that are most frequent, scenario. But in order to respond fully to the given multidisciplinary. By completing the core activities, assessment will be designed to measure. Case
critical and important to the role of a finance manager. scenario and problems to add value to the simulated successful candidates will implicitly demonstrate not Study assessment outcomes will be synoptic.
organisation, candidates will need to ensure that they just the technical abilities but all the required
The five core activities are: A weighting range is given for each core activity. This
have the attitude and mindset to affect and influence competencies and the mindset for that level.
represents the amount of time that will be allocated to
A. Evaluate opportunities to add value their own decisions, actions and behaviours and those As detailed above, the Case Study Examination each core activity in the examination.
of others within the organisation. They must also have blueprint contains the following:
B. Implement senior management decisions
an awareness of the environment in which the
C. Manage performance and costs to aid value creation w Core activities – Business-related tasks that are
organisation is operating, and the increasingly
common to the role being simulated and valued by
D. Measure performance digital ecosystem.
employers which, if performed satisfactorily, enables
E. Manage internal and external stakeholders Enabling qualities and competencies such as the demonstration of the assessment outcomes.
communication, professional scepticism, leadership,
The core activities are linked to associated assessment professional judgement, ethical awareness and
outcomes expressed in terms of ‘I can’ statements. business acumen are critical to performing well in the
These statements reflect the skills and competencies examination tasks as well as the workplace.
that drive the employability of successful candidates.
The core activities require and draw together the Knowledge,
knowledge, skills and techniques acquired while skills, Core Assessment
studying for Objective Tests, and combining them with
the mindset of a CGMA finance professional. The techniques activities outcomes
Inherent candidate Successful candidates
pre-seen material and information provided during the and mindset attributes required to demonstrate the
course of the Case Study Examination provides a rich successfully perform competencies reflected
simulation which enables the learner to demonstrate the role-related tasks in the assessment
the acquisition of these and their overall competency outcomes in completing
in the role. these tasks

Management Case Study
Examination blueprint
Core Activity Assessment Outcome Weighting Core Activity. Assessment Outcome Weighting
A. Evaluate • I can select appropriate capital investment appraisal techniques and apply 15–25% D. Measure performance • I can select and apply suitable tools and techniques for managing 15–25%
opportunities to them in order to support capital investment decisions, including product/ risk and uncertainty associated with performance related issues.
add value service development, digital transformation projects and acquisitions.
• I can select and apply suitable tools and techniques for managing
• I can identify and use relevant digital data sources to assist in capital risk and uncertainty in business models.
investment decisions.
• I can use the financial statements to assess and report on financial
• I can explain which pricing strategies are appropriate. performance and position, interpreting and reporting on a wide range
of ratios.
• I can select and implement suitable business models that will create
value for stakeholders, including business models in the context of • I can support managers by recommending actions to improve
digital ecosystems. financial performance and position and assessing how suggestions
impact on the wider organisational ecosystem.
• I can analyse the impact of disruptive and digital operating business
models in the context of digital ecosystems. • I can select appropriate accounting treatments and explain their
implications for users of the financial statements.
• I can explain the relevance of weighted average cost of capital.
E. Manage internal and • I can explain the financial reporting implications of additions to the 15–25%
B. Implement senior • I can apply appropriate project management tools and techniques to 15–25%
external stakeholders group.
management decisions effectively manage projects at the appropriate stage in the project life
cycle. • I can explain the behavioural and transfer pricing issues associated
with internal trading.
• I can identify the key project personnel, explain their responsibilities
and set appropriate performance measures. • I can explain the implications of Integrated Reporting for the
reporting entity and its stakeholders.
• I can select and apply suitable tools and techniques for managing
risk and uncertainty in capital projects. • I can advise on the communication process.
• I can select suitable financing sources and explain the characteristics • I can advise on the negotiation process.
of the different types of funding.
• I can advise on conflict management.
• I can recognise the characteristics of high performing teams.
C. Manage performance • I can advise on the measurement, analysis and reporting on the 15–25%
and costs to aid value performance of responsibility centres.
creation
• I can analyse the processes needed to ensure employee engagement,
empowerment and alignment to enhance individual and team
performance.
• I can compare leadership styles and identify the most appropriate
style to use.
• I can use appropriate cost management and cost transformation
techniques to manage costs and improve profitability.
• I can identify and apply appropriate quality management techniques
to enhance value.
• I can identify and apply value management techniques to enhance
value.
• I can apply the techniques that quantify and present risk
to stakeholders.

Examination approach
Structure and format Marking, grading and feedback Candidate experience
The examination is three hours long. A 15-minute Examination tasks will not be set that require specific The Case Study Examinations are human marked. There are four examination windows per year. For
tutorial is available before the start of the examination calculations. However, candidates should, wherever details of upcoming Case Study Examination dates,
The Case Study results will contain the
to allow candidates to familiarise themselves with the possible, show how they have used and interpreted visit cimaglobal.com
following information:
test driver. data from the pre-seen and the new information Pre-seen material will be published on the website
presented during the examination and/or undertook w Grade: Pass or fail
The examination has four sections (tasks), which are ahead of the examination. Candidates must use the
analysis or calculations to support their responses. w Scaled score: 0 to 150 with 80 and above material to prepare for the examination, immersing
each 45 minutes long. All sections are equally
Reference materials being a pass themselves in the simulated scenario and consider the
weighted. Candidates may finish a section early and
move on to the next but cannot return to previous organisation’s current position and future strategy.
Mathematical tables will be included for reference in There is no requirement to obtain a pass or meet a
sections in the time remaining. each Case Study Examination are: minimum threshold for each core activity. The examination will take the form of a ‘day in the life’
There may be more than one sub-task within each of the role being simulated. Candidates will face a
w Present value table Feedback on performance against each core activity
section and an indication of how long to spend on series of tasks that relate to one or more of the core
will be provided so that learners know their areas of
each sub-task will be given, to allow candidates to w Cumulative present value table activities in the blueprint.
weakness for further study.
manage their time. If no weighting is given, then w Normal distribution table During the course of the examination, new information
Grade descriptors for both the overall passing
candidates should assume that the sub-tasks are will be provided at the start of each section (task). In
For more details visit here. standard as well as each core activity will be available
equally weighted. response, candidates will have to consider the new
six months before the first examination and this
More than one core activity will normally be assessed A copy of the full set of pre-seen material will be information that’s been given, as well as their previous
document will be updated with that information.
in each section/task and the order of core activities available for reference in the test driver throughout the analysis of the pre-seen material.
and assessment outcomes in the blueprint does assessment. A calculator is included within the test
Results will be available on your profile about six
not reflect how these might be structured in driver although candidates are permitted to take their
weeks after the examination.
the examination. own calculators as long as it’s a CIMA approved model.
For more information on the operational and
All core activities will be assessed in each form of the A notepad and pad are provided for planning and
administrative aspects of the examination please
examination in line with the weightings. A sample of workings along with an on-screen scratch pad.
refer to our website.
related assessment outcomes will be tested.
Item types
The examination requires constructed, written
responses from candidates in the format of a range
of business communications (for example, emails,
memos, reports, briefing notes).
Word processing capabilities will be provided within
the test driver to allow the formatting and presentation
of responses in a professional manner.

Acquiring the knowledge, skills and
techniques required for the finance
manager role – Management
level objective tests
Test purpose Understanding the blueprint
Objective Tests for each of the individual subjects The blueprint is structured as follows:
assure that learners have acquired the fundamental
w Exam content sections
knowledge, skills and techniques for the role that will
be simulated in the culminating Case Study w Lead and component outcomes
Examination.
w Representative task statements.
The Objective Tests will cover all areas of the syllabus
A representative task statement is a plain English
and will ensure that learning has taken place across
description of what a CGMA finance professional
the breadth of the syllabus. Passing the Objective
should know and be able to do.
Tests is a prerequisite for progressing to the capstone
Case Study Examination. The content and skill level determine the language and
verbs used in the representative task.
The Objective Tests are weighted towards
remembering and understanding and application CIMA will test up to the level of the task statement in
with some analysis and evaluation in highly the objective test (an objective test question on a
structured scenarios. particular topic could be set at a lower level than the
task statement in the blueprint).
The format of the Objective Test blueprints follows
that of the published syllabus for the Professional
Qualification.
Weightings for content sections are also included in
the individual subject blueprints.
Note: The task statements in the blueprint are
representative and are not intended to be (nor should
they be viewed as) an all-inclusive list of tasks that may
be tested on the Examination. It also should be noted
that the number of tasks associated with a particular
content group or topic is not indicative of the extent
such content group, topic or related skill level will be
assessed on the test.
23 Strategic level examination blueprint 23 Management level examination blueprint 24

Objective Tests blueprints E2A: Business models and Skill level
value creation
E2: Managing Performance Lead Component Remembering Application Analysis Evaluation
Mechanisms to implement decisions and manage outcome outcome and
understanding Representative task statement
people performance.
1. The a. Markets and Understand why ecosystems are
Content weighting: ecosystems of competition P beginning to emerge and how they differ
organisations from traditional markets.
Understand the fundamental components

Content area Weighting P of an ecosystem.
b. Society and Understand the participants in an

A. Business Models and Value Creation 30%
regulation P ecosystem and their associated role within
the environment.
B. Managing People Performance 40%
Understand the products or services in
the ecosystem and rules governing the
C. Managing Projects 30% P ecosystem, the connections of elements,
and course of interactions.
100%
Understand how technology is driving
the emergence of ecosystems that are
P connected, open, simple and intelligent,
and fast and scalable.
Understand the costs and risks of shifting

P from a traditional market to a business
ecosystem.
2. The a. Concept Understand how a business model shows

elements of value and how an organization defines, creates,
of business the business P delivers and captures value for its customers,
models model investors, stakeholders and itself.
b. Defining Understand the steps in defining

value value: identifying stakeholders, ranking
P stakeholders, needs of important
stakeholders, and formulating value
propositions for stakeholders.
c. Creating Understand the main features that must

value P connect and align in order to create value.
d. Delivering Understand the main features of delivering

value P value to customers.
e. Capturing Understand the three main features of

and sharing capturing and sharing value to stakeholders:
value P cost model, revenue model and
distribution of surplus.

E2A: Business models and value Skill level E2B: Managing people Skill level
creation (cont.) performance
Lead Component Remembering Application Analysis Evaluation Lead Component Remembering Application Analysis Evaluation
outcome outcome and outcome outcome and
understanding Representative task statement understanding Representative task statement
3. New a. Digital Determine the strategies businesses can 1. Different a. Different Understand fundamental and
business business use to survive digital disruption and build types of leadership contemporary concepts in management
models models and
P
disruptive and resilient business models. leadership and concepts P including the concepts of power, authority,
in digital their related management delegation, and empowerment.
ecosystems operating styles
models
b. Types of Understand different approaches to
Analyse strategies to build disruptive leadership leadership including personality/traits, style,
business models using the build, buy, P contingency/situational, transactional/
P partner, invest and Incubate/accelerate transformational and distributive.
models.
c. Leadership Understand leadership in different contexts
P
Analyse strategies to create digital in different P including leadership of virtual teams and
operating models. contexts the ethical implications of leadership.
Analyse the steps to build a digital 2. Individual a. Employee Understand performance management
workforce including attract and retain and team performance P and associated frameworks.
talent, become an employer of choice, performance objective setting
create a workforce with digital skills, bring
P leadership into the digital age, foster a Determine how behavioural aspects of control
digital culture, create environments where impact target setting and management by
humans and robots can work together,
P objectives and impacts employee alignment,
integrate on-demand workforce. empowerment and engagement.
b. Employee Understand different approaches to

appraisals P employee performance appraisals.
Determine the impact rewards have

on employee performance and the
P disciplinary and grievance procedures in
resolving poor performance.
c. Coaching and Determine the impact of coaching and

mentoring P mentoring on enhancing individual and
organisational performance.
d. Managing Analyse organisational culture and the

work place relationship to employer and employee
environment P responsibilities in managing the work
environment, diversity and equality practices,
and health and safety in the workplace.

E2B: Managing people Skill level E2C: Managing projects Skill level
performance (cont.)
Lead Component Remembering Application Analysis Evaluation
Lead Component Remembering Application Analysis Evaluation outcome outcome and
outcome outcome and understanding Representative task statement
1. The a. Project Understand how the overall project
3. How to a. Building and Understand the characteristics of high concepts and objectives objectives are measured by time, cost
manage leading teams performing teams, the factors associated phases of P and quality.
relationships P with effective team work and motivating projects
team members.
b. Key stages Understand the purpose and activities
b. Communications Understand the importance of effective of the project P associated with the key stages of the project
communication skills for the Chartered life cycle life cycle.
P Global Management Accountant and the
importance of non-verbal communication 2. Tools and a. Project Define workstreams for projects and use
and feedback. techniques management work breakdown schedule, Gantt Charts,
Understand the communication process,

to manage tools and P network analysis, data visualisations, and
projects techniques PERT charts to describe and review the
the types of communication tools and their tasks involved in completing a project.
P use (including digital tools) and ways of
managing communication problems. b. Project risk Determine the sources and types of
c. Negotiations Understand the process of negotiation and

management P project risks.
tools
importance of developing effective skills
P and strategies for influence, persuasion Determine how scenario planning can be
and negotiation. P used to mitigate or manage project risks.
d. Managing Understand the sources and causes of Determine the contribution of project
conflicts conflict in organisations and strategies P management software to the overall
P for managing conflict to ensure working success of a project.
relationships are productive and effective.
3. The a. Project Understand project structures, including
concepts structure matrix structure and their impact on
of project P project achievement.
leadership
b. Roles of Understand the role and attributes of an

key project effective project manager, the role of other
personnel P key members of the project team and the life
cycle of project teams.
c. How to Understand how managing key project

manage project stakeholders and leading and motivating
stakeholders P a project team is critical to the success of
a project.

P2: Advanced Management Accounting P2A: Managing the Costs of Skill level
Creating Value
Making medium-term decisions and managing costs
and performance. Lead Component Remembering Application Analysis Evaluation
outcome outcome and
Content weighting: understanding Representative task statement
1. Cost a. Activity-based Understand how activity-based

management management management uses activity based costing
Content area Weighting and cost (ABM) to drive profitability and customer
transformation methodology satisfaction.
methodology to P
A. Managing the Costs of Creating Value 20% manage costs
and improve
B. Capital Investment Decision Making 35% profitability
b. Cost Understand the rationale for the use of ABC

C. Managing and Controlling the Performance of 30% transformation P as the foundation for managing costs.
Organisational Units techniques
Use activity-based management to improve

D. Risk and Control 15% P efficiency of repetitive overhead activities.
100% Analyse activity-based cost methods

in tracing costs to ‘cost objects’, such
as customers or distribution channels,
P and the comparison of such costs with
appropriate revenues to establish ‘tiered’
contribution levels, as in the activity-based
cost hierarchy.
Analyse customer profitability

and channel performance using
P activity-based management to
identify areas for improvement.
2. Quality a. JIT Determine the impacts of just-in-time

management (JIT) production, the theory of constraints
methodologies P and total quality management on
efficiency, inventory and cost.
b. Quality Determine the benefits of JIT production,

management total quality management and theory of
P constraints and the implications of these
methods for decision-making.
c. Kaizen Demonstrate the concepts of JIT, TQM,

and Kaizen and how they drive the
P continuous improvement of products and
processes in an organisation.
d. Process re- Determine how business process re-

engineering P engineering can identify non-value adding
activities and reduce costs.

P2A: Managing the Costs of Skill level P2B: Capital Investment Skill level
Creating Value (cont.) Decision Making
3. Value a. Target Calculate target costs and target prices and 1. Data a. Relevant Determine relevant cash flows and their
management costing identify methods to reduce any cost gaps. required for cash flows timings for the entire project lifecycle
techniques to decision- P including consideration of tax, inflation and
manage costs P making working capital.
and improve
value creation Calculate relevant cash flows taking
account of tax, inflation, and working
b. Value chain Determine how research and development, P capital, and the use of perpetuities to
analysis product design, process environment, derive final project value.
P production, distribution, marketing and
customer service together to improve Determine non-financial factors in
products and services for customers.
P medium-term decision making.
c. Life cycle Analyse the value chain and management b. Non- Determine the benefits, costs, and common
costing P of contribution/profit generated throughout financial P problems with collecting, analysing and
the chain. information presenting high-quality data.
Understand life cycle costing and its Determine the role of business intelligence
P implications for marketing strategies P systems in identifying new business
opportunities and reducing costs.
Use life cycle costing and budgeting in
P costing decisions. 2. The steps a. Investment Understand the process of investment
and pertinent decision- decision-making, including origination of
issues in the making proposals, creation of capital budgets, go/
decision- process P no-go decisions on individual projects
making (where judgements on qualitative issues
process interact with financial analysis).
b. Discounting Determine the financial consequences

of dealing with medium-term projects, in
P particular the importance of accounting
for time value of money.
Use discounting, including the use of

P annuities in comparing projects with
unequal lives.
c. Capital Use profitability index in capital rationing

investments P situations.
as real options
Determine capital investment real options

P (i.e., to make follow-on investment,
abandon or wait decisions).

P2B: Capital Investment Skill level P2C: Managing and Controlling Skill level
Decision-making (cont.) the Performance of Organisational
Units
Lead Component Remembering Application Analysis Evaluation
outcome outcome and Lead Component Remembering Application Analysis Evaluation
understanding Representative task statement outcome outcome and
3. Investment a. Payback Calculate ARR, payback, NPV, IRR, modified
appraisal P IRR (based on a project’s terminal value). Responsibility a. Cost centres, Analyse responsibility centres and
techniques centres revenue responsibility accounting and the relationship
reporting centres, profit to an organisation’s strategy (e.g., cost,
b. ARR Analyse the relative strengths and centres, and P revenue, profit, and investment centres).
weaknesses of ARR, payback, NPV, investment
P IRR, modified IRR(based on a project’s centres
terminal value).
Analyse how controllable and uncontrollable
c. IRR Use NPV, IRR, and payback to analyse P costs and revenues impact a manager’s
P financial aspects of projects and prioritise performance related to responsibility centres.
accordingly.
Analyse appropriate costs and measures of
d. NPV Use investment appraisal techniques for P performance for responsibility centres.
P prioritisation of projects that are mutually
exclusive. Use data analytics and visualisations
to analyse responsibility centres to
Use investment appraisal techniques for P enhance management performance and
P comparison of projects that have unequal accountability.
lives.
b. Reports Prepare the reports used for each
4. Pricing a. Pricing Understand pricing decisions. for decision- P type of responsibility centre to assist
strategies decisions P making management assess performance.
b. Pricing Analyse pricing strategies and the financial 2. Approaches a. Budgets and Identify and calculate key KPIs for
strategies consequences of market skimming, to the performance each type of responsibility centre (e.g.,
premium pricing, penetration pricing, loss performance review P profitability, liquidity, asset turnover, return
P leaders product bundling/operational and control of on investment, residual income, and
extras and product differentiation to appeal organisations economic value added).
to different market segments.
Analyse key KPIs for each type of
P responsibility centre.
b. Other Use internal and external benchmarking

approaches to as a key input in performance evaluation.
performance P
review
Use non-financial measures as a key input

P in performance evaluation.
Use a balanced scorecard approach to

P measure an organisation’s performance
from the four key perspectives.

P2C: Managing and Controlling Skill level P2D: Risk and Control Skill level
the Performance of Organisational
Units (cont.) Lead Component Remembering Application Analysis Evaluation
outcome outcome and
Lead Component Remembering Application Analysis Evaluation understanding Representative task statement
outcome outcome and
understanding Representative task statement 1. Risk and a. Sensitivity Use sensitivity analysis, expected values,
uncertainty analysis standard deviations and probability tables to
3. Behavioural a. Behavioural Understand the likely behavioural associated with quantify and analyse risk.
and transfer issues consequences of performance medium-term P
pricing issues measurement within an organisation decision-making
related to the including the behavioural consequences of
management P performance management and control in
of responsibility responsibility centres and the behavioural b. Analysis of Use probabilistic models and interpretations
centres consequences arising from divisional risk P of distribution of project outcomes for risk
structures including internal competition quantification.
and internal trading.
Use the results of digital analyses to test the
b. Use and Understand the theory of transfer pricing, P impact of varying inputs on project viability.
ethics of P including perfect, imperfect and no market
transfer pricing for the intermediate good. Use decision trees for multi-stage
P medium-term decision problems.
Calculate negotiated, market, cost-plus and
P variable cost-based transfer prices. Understand decision-making in conditions of
P uncertainty.
Determine dual transfer prices and lump

sum payments as means of addressing 2. Types of risk a. Types of risk Determine upside and downside risks.
P some of the issues that arise in transfer in the medium- P
pricing decisions. term
Determine how the different methods of b. Managing Use the TARA framework — transfer, avoid,
calculating transfer prices affect manager risk P reduce, and accept.
P autonomy, motivation, goal congruence and
unit performance. Determine business risks and the ethical
P implications and risk to the public interest.
Analyse the effects of transfer pricing on
P divisional and group profitability. Determine the costs and benefits associated
P with investing in information systems and
big data.

F2: Advanced Financial Reporting F2A: Financing Capital Projects Skill level
Analysing and communicating insights about the Lead Component Remembering Application Analysis Evaluation
performance of the organisation. outcome outcome and
Content weighting:
1. Types and a-b. Long-term Understand the characteristics of types of
sources of debt and equity shares and long-term debt (e.g., ordinary and
Content area Weighting long-term finance P preference shares, bank loans and bonds).
funds
A. Financing Capital Projects 15% c. Markets for Understand the markets and methods
long-term funds of raising long-term financing including
B. Financial Reporting Standards 25% P the operation of the stock and bond
markets, share and bond issues, and role
of advisers.
C. Group Accounts 25%
2. Cost of a. Cost of equity Calculate the cost of equity using the
D. Integrated Reporting 10% long-term P dividend valuation model, with and
funds without growth in dividends.
E. Working with Financial Statements 25% b. Cost of debt Calculate the post-tax cost of debt for an
P incorporated entity.
100% Calculate the yield to maturity of bonds
P and post-tax cost of bonds.
Calculate the post-tax cost of convertible

P bonds up to and including conversion.
c. Weighted Calculate the weighted average cost of

average cost of P capital (WACC) for an incorporated entity.
capital

F2B: Financial Reporting Skill level F2B: Financial Reporting Skill level
Standards Standards (cont.)
1. Relevant a. Revenue Apply the basic principles of the five-step 2. Relevant a. Relevant IFRS Understand that equity, profit for the year, and
financial approach to revenue recognition and the financial for each total comprehensive income must be allocated
reporting criteria for satisfaction of performance reporting between the owners of the parent and the
standards at point in time and over time. (Including standards for P non-controlling interest.
for revenue, sale with right of return, warranties, and group
leases, P principal vs. agent) (Excluding costs of accounts
financial obtaining and fulfilling a contract).
instruments, Understand the three possible methods for
intangible measuring the investment in a subsidiary,
assets and
P associate, or joint venture in the separate
provisions financial statements of the parent.
b. Leases Apply the basic recognition, initial Determine if an entity has significant
measurement, and subsequent
P influence or joint control over another entity.
P measurement principles in the financial
Understand how to calculate and present
statements of the lessor (excluding sale and
leaseback and manufacturer-dealer lessors). P goodwill (including negative goodwill)
including fair value adjustments.
c. Provisions Apply the recognition and measurement
principles for provisions and determine Understand that non-controlling interest at
P the need for and the nature of disclosures P acquisition may be measured at fair value
of contingent assets and liabilities. or at the proportionate share of net assets.
d. Financial Apply the basic recognition and Determine whether an entity is a subsidiary by
P applying the three-part definition of control.
instruments measurement principles of financial
instruments (excluding derecognition,
Understand the difference between a joint
P embedded derivatives, impairment of
P operation and a joint venture and their
financial assets, hedge accounting and
respective accounting treatment.
calculations for investments in debt held
at fair value through OCI).
Determine whether a financial instrument

P is a financial asset, liability or equity
instrument.
e. Intangible Apply the recognition (and derecognition),

assets initial measurement and subsequent
P measurement principles in the financial
statements.
f. Income taxes Record the current tax expense and

P liability (including under/over provisions in
respect of previous periods).
Calculate and account for deferred tax

in relation to accrued expenses, accrued
P income, accelerated tax depreciation,
revaluations, and losses.
g. Changes in Determine the functional currency and

foreign currency presentation currency of an entity and
rates P translate foreign currency transactions
and balances.

F2C: Group Accounts Skill level F2D: Integrated Reporting Skill level
1. Group a-d. Statement Prepare group accounts based on IFRS 1. The a. The role of Understand the role of the international
accounts of financial including the consolidated statement integrated the international integrated reporting council (IIRC).
based on IFRS position, of financial position, consolidated reporting integrated P
statement of statement of profit or loss and other framework reporting
profit or loss comprehensive income, consolidated council (IIRC)
and other statement of changes in equity, and
comprehensive P consolidated statement of cash flows. b. Integrated Define integrated thinking.
income, thinking P
statement of
changes in c. The Understand the objective of the international
equity, and integrated integrated reporting framework.
statement of reporting P
cash flows conceptual
framework
Subsidiaries Consolidate subsidiaries including
calculation of goodwill (including fair value Understand the benefits and limitations of
adjustments), non-controlling interests, P the international integrated reporting
P and consolidated reserves. Eliminate framework.
intra-group transactions, balances and
2. The six The Define the six capitals.
unrealized profit on transfer of inventory.
capitals of measurement
Associates and Apply equity accounting to associates integrated and disclosure
reporting issues of
joint ventures P and joint ventures in the group financial
financial capital,
statements.
manufactured
Foreign Translate and consolidate foreign capital, P
subsidiaries P subsidiaries. intellectual
capital, human
Consolidated Prepare extracts from the consolidated capital, social
statement of P statement of cash flows under the and relational
cash flows indirect method. capital, and
natural capital
2. Additional a. Transaction Determine the need for and the nature
disclosure between related of disclosure of transactions between Understand the principles of disclosure of
issues related parties P related parties. P the capitals in the international integrated
to the group reporting framework.
accounts
b. Earnings per Calculate basic and diluted earning per

share P share (EPS).

Examination approach
Structure and format Item types
Each Objective Test is 90 minutes long. A 15-minute The following objective test items may be used:
tutorial is available before the start of the examination
F2E: Financial Statements Skill level w Multiple choice
to allow candidates to familiarise themselves with the
Lead Component Remembering Application Analysis Evaluation test driver. w Multiple response
outcome outcome and
understanding Representative task statement Each Objective Test comprises 60 questions drawn w Hot spot
from across the individual subjects of the syllabus in
1. Financial a. Performance, Calculate ratios relevant for the w Fill in the blank (number entry)
statements position, assessment of an entity’s financial
line with the weightings for each content area as set
adaptability, and P performance, financial position, and out in the blueprint. w Drag and drop
prospects financial adaptability.
All questions are independent and worth equal marks.
Determine the financial performance, Partial marks are not available — all elements of a Reference materials
financial position, and financial adaptability question must be answered correctly for it to be
P of an entity based on the information
The mathematical tables and formulae that will be
contained in the financial statements.
marked correct. Candidates may answer questions in included for reference in each Objective Test as
any order and can navigate back and forth to any follows:
Use the dimensions of the Gartner Data question to change their answer, time permitting.
P Analytics maturity model — descriptive,
diagnostic, predictive and prescriptive.
E2 None
2. Actions a. Recommended Analyse the actions that could be taken to
based on actions improve an entity’s financial performance
P2 Present value table, cumulative present value table, normal distribution table and the following formulae:
insights from and financial position, including the use of
the P predictive and prescriptive ratios. w PV
interpretation w CPV
of financial
w Probability
statements
- Rules of addition
3. The a-b. Data Understand the limitations of ratio analysis
- Rules of multiplication
limitations of limitations and based on the financial statements that can
the tools used limitations of be caused by internal and external factors w Descriptive statistics
for interpreting ratio analysis P including inter-segment and international - Arithmetic Mean
financial comparisons.
statements - Standard deviation
w Index numbers
- Price
- Quantity
w Time series
- Additive model
- Multiplicative model
w Financial mathematics
- Compound interest (values and sums)
- Annuity
- Perpetuity
w Learning curve
F2 Present value table, cumulative present value table, normal distribution table and the following formulae:
w DVM
w IRR
w Cost of Irredeemable Debt
w WACC
Examples of how the tables and formulae will be presented A whiteboard is available for planning and workings along
are available from Cimaglobal.com/Tables with an on-screen scratch pad.
A calculator is included within the test driver although
candidates are permitted to use their own calculators
if it’s approved by CIMA.

Glossary
Marking, grading and feedback Candidate experience Term Definition
On the successful completion of an Objective Test, the The Objective Tests are 90 minutes long, computer
candidate will be given a provisional pass or fail grade based and available on demand at over 5,000 Pearson Capstone examination A capstone examination is designed to demonstrate mastery of previously acquired
before leaving the test centre. CIMA will confirm the VUE assessment centres worldwide. Candidates can knowledge and skills and the drawing together of these to provide solutions to
final grade on MyCIMA within 48 hours of taking the book their tests up to 48 hours prior to the testing unstructured problems.
assessment. Details of the format of the final grade date, subject to centre availability.
It takes place at the end of a period of study and serves as a culminating assessment
will be provided in May 2019 and this document will be
A provisional grade (pass/fail) will be given at the test experience. By its position and design it is a synoptic assessment.
updated to include those details.
centre on completion of the test. The final grade will be
Feedback on performance in each content area of the confirmed on MyCIMA within 48 hours of taking your Case study A (fictional) realistic simulation of an organisation or problem that a candidate could
examination will be given in the form of a proficient/ assessment. reasonably expect to face if operating in the role being assessed.
not proficient rating. There is no requirement to
For more information on the operational and Simulation An assessment exercise that involves the achievement of a specific task or tasks which seek
achieve a grade of proficient in all content areas.
administrative aspects of the Examination please refer to reproduce real life situations.
here.
Synoptic assessment A synoptic assessment is one that combines two or more modules (subjects) of study into
a single assessment.
Its aim is the “undoing” of the modularisation (in CIMA’s case, pillar and subject divisions)
of the syllabus and to help students make connections between the modules and provide
a more holistic approach to learning and assessment.
It is typically delivered at the end of a course or programme to assess across all the
knowledge, skills and behaviours developed within that course.
Blueprint A test blueprint is a document that gives clear guidance to all stakeholders (candidates,
tuition providers, examination item writers) on what is examinable for a particular test.
It will also normally include details about the test such as information on the weightings
for/importance of specific elements of the test or mapping the different cognitive levels
of the test content.
Task statement A task statement is a plain English description of what someone should be able to know and do.
(objective tests)
For objective tests, task statements will form the basis of the blueprint.
Core activities Business-related tasks which are common to the role being simulated and valued by employers
(Case Study) which, if performed satisfactorily, enables the demonstration of the assessment outcomes.
Assessment outcome A clear assertion of what a CGMA-qualified professional can do when the examination
(Case Study) has been completed and what the assessment will be designed to measure. Case Study
assessment outcomes will be synoptic.

Appendix
International accounting standards This table describes the content, briefly, of the Number Name Application/relevant articles Useful to be studied in Examinable subjects
standards that are currently in publication and the conjunction with:
For all students of the F pillar and all Case Studies relevance to each CGMA subject. At the end of this
IFRS 7 Financial Not examinable
The CGMA syllabus for the F pillar (and BA3) makes appendix, we provide a summary of how the
instruments:
numerous references to the International Accounting examinable date for IFRS is determined for the disclosures
Standards. Although students are not expected to learn objective tests
the title of each one, the content and application of a IFRS 8 Operating Not examinable
segments
number of them are an essential part of the learning
outcomes and examinable in both objective tests and IFRS 9 Financial Provides the recognition and From F2
case study exams. instruments measurement rules for financial
instruments.
IFRS 10 Consolidated For an entity that controls one or more IAS 27, From F2
financial other entities, sets out the principles for the IAS 28,
statements presentation and preparation of the IFRS 3,
International financial reporting standards (IFRS) consolidated financial statements. IFRS 11
IFRS 11 Joint arrangements Sets out the financial reporting principles IAS 27, From F2
Number Name Application/relevant articles Useful to be studied in Examinable subjects for entities that have an interest in jointly IAS 28,
conjunction with: controlled arrangements. IFRS 3,
IFRS 10
IFRS First-time Not examinable
adoption of
international
financial IFRS 12 Disclosure of interests in Describes the disclosure requirements for an From F2
standards other entities entity that has interests in other entities to
enable the users to evaluate the nature and
IFRS 2 Share-based Not examinable risks of the relationships, in addition to the
payment effects on the group financial statements.
IFRS 3 Business For the acquirer of a target entity, it explains how IAS 27, From F2
combinations to recognise and measure: IAS 28,
IFRS 10, IFRS 13 Fair value Defines fair value and describes how it is From F2
w assets and liabilities of the acquiree; measurement measured as well as the disclosure
IFRS 11
w any non-controlling interest in the acquire; and requirements about such measurements.
w goodwill or a gain on a bargain purchase.
IFRS 14 Regulatory deferral Not examinable
Also explains the disclosure requirements to accounts
enable users to determine the nature and financial
impact of the business combination.
IFRS 5 Non-current Defines a non-current asset held for sale IAS 16, From F1 IFRS 15 Revenue from contracts Prescribes the accounting treatment for BA3 and F2
assets held for and explains how such an asset is IAS 36 with customers revenue.
sale and measured and presented in the financial
discontinued statements.
operations
IFRS 16 Leases Describes the accounting treatment of From F1
The standards also defines what is meant
leases in both the lessee’s financial
by a discontinued activity and explains the
statements (F1) and the lessor’s financial
presentation and disclosure of such
statements (F2).
activities in the financial statements.
However, this element of the standard
Note: accounting for sale and leaseback
is not examinable.
transactions is not examinable.
IFRS 6 Exploration for Not examinable IFRS 17 Insurance contracts Not examinable
and Evaluation of
mineral assets

International accounting standards (IAS)
Number Name Application/relevant articles Useful to be studied in Examinable subjects

Number Name Application/relevant articles Useful to be studied in Examinable subjects
conjunction with:
conjunction with:
IAS 1 Presentation of financial Provides guidance on the presentation of From BA3
IAS 28 Investments in associates Explains how to account for investments in IAS 27, From F2
statements statement of financial position (SoFP), statement
and joint ventures associates. This includes the application of IFRS 3,
of profit or loss and other comprehensive income
the equity method used when accounting for IFRS 10,
and statement of changes in equity (SOCIE).
associates and joint ventures. IFRS 11
IAS 2 Inventories Provides guidance on the determination of cost From BA3
IAS 29 Financial reporting Not examinable
of inventory (raw materials, work in progress and
in hyperinflationary
finished goods), its valuation and any subsequent
economies
write-offs as an expense.
IAS 32 Financial instruments Prescribes the presentation of financial IFAS 7, From F2
IAS 7 Statment of cash flows Provides guidance on definitions of cash and From BA3
presentation instruments. IFRS 9
cash equivalents and how to present cash flows
in a statement of cash flows. IAS 33 Earnings per share Prescribes the principles for the calculation From F2
and presentation of basic and diluted
IAS 8 Accounting policies, Not examinable
earnings per share.
changes in accounting
estimates and errors IAS 34 Interim financial Not examinable
eporting From F1
IAS 10 Events after the Describes the definition of events after the
reporting date reporting period and explains how they are From F1
accounted for and any disclosures required. IAS 36 Impairment of assets Explains that an asset or cash generating IAS 16 From F1
unit cannot be reported at a value higher IAS 38
than its recoverable amount and how to
IAS 12 Income taxes Prescribes the accounting treatment of income From F2 account for any resulting impairment.
taxes and deferred tax.
IAS 37 Provisions, Contingent Prescribes the accounting and disclosure IAS 10 From F2
Liabilities and Contingent requirements for provisions, contingent
Assets liabilities and contingent assets
IAS 16 Property, plant and Explains the recognition and measurement of IAS 36, From BA3
equipment property, plant and equipment. This includes initial IAS 38,
cost, subsequent expenditure, depreciation and IFRS 5 IAS 38 Intangible assets Prescribes the recognition and measurement BA3 and F2
revaluation of such assets. of intangible assets. IAS 36
IAS 19 Employee benefits Not examinable
IAS 40 Investment property Not examinable
IAS 20 Accounting for government Not examinable

grants and the disclosure of
government assistance IAS 41 Agriculture Not examinable
IAS 21 The effects of changes in Considers the accounting treatment of F2

foreign exchange rates transactions in a currency other than the entity’s
home currency. This includes transactions for an
individual entity and how to translate a subsidiary
entity in preparation for consolidation.
IAS 23 Borrowing costs Not examinable
IAS 24 Related party disclosure Explains the disclosure requirements that draw From F2
attention to the possibility that the statements
of financial position and profit or loss may
be affected by transactions and outstanding
balances with parties related to the entity.
IAS 26 Accounting and reporting Not examinable

by Retirement Benefit Plans
IAS 27 Separate financial Outlines the accounting and disclosure IFRS 3, From F2
statements requirements for investments in subsidiaries, IFRS 10,
joint ventures and associates when an entity IFRS 11,
prepares separate financial statements. IAS 28

Policy regarding examinable dates
for IAS/IFRS for the 2019
professional qualification
The assessments will be set in accordance with For Case Study Examinations, where individual
relevant International Accounting Standards and standards will not normally be directly assessed and
International Financial Reporting Standards. This also where marking can accommodate a variety of
applies to the material relating to Financial Reporting approaches, candidates may refer to new standards
Exposure Drafts. before the effective date where early adoption is
permitted.
As a general rule, CIMA will examine such standards
from the effective date (or as close as is practical).
This will normally be the date that a new examination
blueprint becomes effective. Details of specific
standards that are examinable for the period covered by
the examination blueprint will be stated in the objective
test section of the blueprint.
53 54
aicpa-cima.com
Whilst CIMA allows the syllabus and examination blueprints to be used to promote the CIMA Professional Qualification, no responsibility for loss occasioned to any person
acting or refraining from action as a result of this document, can be accepted by CIMA. CIMA recognises and aims to protect both economic and moral rights in this work and
object to any distortions of the work, particularly those which are prejudicial to its reputation, or which provide false attribution of authorship, passing off or defamation. CIMA
reserves the right to make changes to the qualification structure, syllabus and examination blueprintss, as it deems necessary. Copyright © 2022 Pearson Education, Inc. or its
affiliate(s). All rights reserved.
© 2022 Association of International Certified Professional Accountants. All rights reserved. AICPA and CIMA are trademarks of the American Institute of CPAs and The
Chartered Institute of Management Accountants, respectively, and are registered in the US, the EU, the UK and other countries. The Globe Design is a trademark of the
Association of International Certified Professional Accountants. 2211-694729

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Management level

Objective tests from January 2023 to January 2024

1 Management level examination blueprint 2

4 31 July 2022 Cover and pg 6 - updated examinable dates

International Accounting Standards For Case Study Examinations, where individual

5 Management level examination blueprint 6

We discussed the draft with learning providers and key

7 Management level examination blueprint 8

Practical experience / lifelong learning

Certificate AWARD: Certificate in Business Accounting (Cert BA)

BA1 BA2 BA3

BA4 Fundamentals of Ethics,

9 Management level examination blueprint 10

Skill level Verbs used Definition

Level 4 Analysis Align Arrange in an orderly way

11 Management level examination blueprint 12

Management level examination blueprint 14

At all levels of the CGMA qualification, learners are

15 Management level examination blueprint 16

17 Management level examination blueprint 18

19 Management level examination blueprint 20

21 Management level examination blueprint 22

23 Strategic level examination blueprint 23 Management level examination blueprint 24

Understand the fundamental components

b. Society and Understand the participants in an

Understand the costs and risks of shifting

2. The a. Concept Understand how a business model shows

b. Defining Understand the steps in defining

c. Creating Understand the main features that must

d. Delivering Understand the main features of delivering

e. Capturing Understand the three main features of

25 Management level examination blueprint 26

b. Employee Understand different approaches to

Determine the impact rewards have

c. Coaching and Determine the impact of coaching and

d. Managing Analyse organisational culture and the

27 Management level examination blueprint 28

Understand the communication process,

c. Negotiations Understand the process of negotiation and

b. Roles of Understand the role and attributes of an

c. How to Understand how managing key project

29 Management level examination blueprint 30

1. Cost a. Activity-based Understand how activity-based

b. Cost Understand the rationale for the use of ABC

Use activity-based management to improve

100% Analyse activity-based cost methods

Analyse customer profitability

2. Quality a. JIT Determine the impacts of just-in-time

b. Quality Determine the benefits of JIT production,

c. Kaizen Demonstrate the concepts of JIT, TQM,

d. Process re- Determine how business process re-

31 Management level examination blueprint 32

b. Discounting Determine the financial consequences

Use discounting, including the use of

c. Capital Use profitability index in capital rationing

Determine capital investment real options

33 Management level examination blueprint 34

b. Other Use internal and external benchmarking

Use non-financial measures as a key input