CIMA - Strategic Level

Course details

The strategic level is made up of three subjects. Students who have completed the strategic level subject must then complete the strategic level Integrated Case Study (ICS) to become CIMA qualified.

There are three papers within the management level which has been designed to develop knowledge and skills in a progressive manner. To progress from the management level, students are required to complete three Objective Tests (OTs) and one Integrated Case Study (ICS).

Each ICS will include a pre-seen which will integrate the learning outcomes from each paper. The pre-seen is the same for each level, but varies in level of application required.

Upon completion, students will are required to submit their Practical Experience Requirements (PER) to become an Associate Chartered Management Accountant (ACMA) and Chartered Global Management Accountant (CGMA).

Risk Management

Overview:

P3 shows how to identify, evaluate and manage various risks that could adversely affect the implementation of the organisation's strategy. It provides the competencies required to analyse, evaluate and apply the techniques, processes and internal control systems required to manage risk. This insight is then used to manage the risks associated with both cash flows and capital investment decisions - two important areas of organisational life for which the finance function is responsible.

Covers:

1. Identification, classification and evaluation of risk.
2. Responses to strategic risk.
3. Internal controls to manage risk.
4. Managing risks associated with cash flows.
5. Capital investment decisions.

You will learn how to:

1. Identify, evaluate and respond to risks that could impact on the implementation of strategy.
2. Develop the competencies required to analyse and apply the techniques, processes and internal control systems required to manage risk.
3. Manage risks associated with both cash flows and capital investment decisions.

Strategic Management

Overview

E3 builds on the insights gained from E1 and E2 about how organisations effectively implement their strategies by aligning their structures, people, process, projects and relationships. E3 aims to develop the skills and abilities of the strategies leaders of the organisations, enabling them to create the vision and direction for the growth and long-term sustainable success of the organisation. This involves successfully managing and leading change within the process of strategy formulation and implementation.

Covers:

1. Interacting with the organizations environment.
2. Evaluating strategic position and strategic options.
3. Leading change.
4. Implementing strategy.
5. The role of information systems in organizational strategy.

You will learn how to:

1. Develop the skills and abilities needed by strategic leaders to direct and achieve the long-term success of their organisations.
2. Formulate and implement strategy.
3. Successfully lead and manage change.

Financial Strategy

Overview:

F3 focuses on the formulation and implementation of financial strategy to support the overall strategy of the organisation. Using insights gained from F1 and F2, it provides the competencies to evaluate the financing requirements of organisations and the relative merits of alternative sources of finance to meet these requirements. Finally, it develops the competencies required to value investment opportunities including the valuation of corporate entities for mergers, acquisitions and divestments.

Covers:

1. Formulation of financial strategy.
2. Financing and dividend decisions.
3. Corporate finance.

You will learn how to:

1. Formulate and implement financial strategy to support the overall strategy of the organization.
2. Develop skills to evaluate and recommend alternative sources of finance.
3. Develop competencies required to value investment opportunities including divestment, mergers and acquisitions.

Strategic Level Case Study

The integrated case study exams combine the knowledge and learning across the three subjects, and are set within a simulated business context relating to one or more fictionalised organisations which are based on a real business or industry. The technical content and theory for the three subjects at a level will have already been tested thoroughly in the objective tests; the case study exam aims to test the application of this knowledge to real life business scenarios and, in so doing, tests the higher level skills of application, analysis and evaluation. The case study incorporates calculations, short answers and essays. Candidates must have completed or be exempt from the three objective tests at a particular level, before attempting that level's integrated case study.

Covers:

P3, F3 and E3 content

You will learn how to:

Apply the knowledge you have gained in the three subjects to reflect real-life work situations