You’ll develop your skills and abilities to become an effective leader, so you’re able to both formulate strategy and to create the conditions for successful strategy implementation.

• The strategy process - 15%

  • Explain the purpose of strategy
  • Discuss the types and levels of strategy
  • Outline the strategy process.

• Analysing the organisational ecosystem - 20%

  • Analyse the elements of the ecosystem.
  • Discuss the drivers of change in the ecosystem.
  • Discuss the impact of the ecosystem on organisational strategy.

• Generating strategic options - 15%

  • Discuss the context of generating options.
  • Discuss how to generate and develop options.

• Making strategic choices - 15%

  • Evaluating options.
  • Produce strategy by the integration of choices into coherent strategy.

• Strategic control - 20%

  • Develop strategic performance management systems.
  • Advise on resource allocation to support strategy implementation.
  • Recommend change management techniques and methodologies.

• Digital strategy - 15%

  • Describe the governance of digital transformation.
  • Analyse digital transformation.
  • Discuss the various elements of digital strategies.

• How to book an exam:

  For information on how to book your exams, and associated fees, visit the CIMA website.

• Dates and locations:

  E3 consists of a 90 minute objective test. This is available on demand, meaning it can be sat at any time at a Pearson VUE centre, or remotely at home. Find your nearest Pearson VUE centre

• Scheduling:

  We recommend that you schedule an exam at least two weeks in advance.

• Exam structure:

  Objective tests consist of short multiple choice questions, number entry questions, drag and drop questions and other formats. For information about results visit the CIMA website.

  The three objective tests within the Strategic Level can be sat in any order. You must pass (or be exempt from) each of these objective tests before you can move onto the case study exam. The Strategic Level case study exam is the last exam that you will take.

• CIMA membership:

  You are required to become a student member of the Chartered Institute of Management Accountants (CIMA) to fulfil your qualification. Become a member on the CIMA website.

You must have completed the Management level before you can progress on to the Strategic level. Candidates who have passed the Gateway Assessment will be exempt from the Certificate in Business Accounting, Operational and Management levels, and can move directly to the Strategic level. More about exemptions.

You’ll learn how to specify and manage risks that could affect a company’s strategies. You’ll gain the skills to apply techniques used in risk management and understand how the oversight of risks is critical to the governance of the organisation.

• Enterprise risk - 25%

  • Analyse sources and types of risk.
  • Evaluate risk.
  • Discuss ways of managing risks.

• Strategic risk - 25%

  • Analyse risks associated with formulating strategy.
  • Evaluate the sources and impact of reputational risks.
  • Explain governance risks.

• Internal controls - 25%

  • Analyse internal control systems.
  • Recommend internal controls for risk management.
  • Discuss various issues relating to internal audit in organisations.

• Cyber risk - 25%

  • Analysis of cyber threats.
  • Review cyber security processes.
  • Discuss cyber security tools and techniques.
  • Evaluate cyber risk reporting.

• How to book an exam:

  For information on how to book your exams, and associated fees, visit the CIMA website.

• Dates and locations:

  P3 consists of a 90 minute objective test. This is available on demand, meaning it can be sat at any time at a Pearson VUE centre, or remotely at home. Find your nearest Pearson VUE centre

• Scheduling:

  We recommend that you schedule an exam at least two weeks in advance.

• Exam structure:

  Objective tests consist of short multiple choice questions, number entry questions, drag and drop questions and other formats. For information about results visit the CIMA website.

  The three objective tests within the Strategic Level can be sat in any order. You must pass (or be exempt from) each of these objective tests before you can move onto the case study exam. The Strategic Level case study exam is the last exam that you will take.

• CIMA membership:

  You are required to become a student member of the Chartered Institute of Management Accountants (CIMA) to fulfil your qualification. Become a member on the CIMA website.

You must have completed the Management level before you can progress on to the Strategic level. Candidates who have passed the Gateway Assessment will be exempt from the Certificate in Business Accounting, Operational and Management levels, and can move directly to the Strategic level. More about exemptions.

You’ll gain the understanding of the different strategic financial objectives and policy options that are open to organisations and the factors that influence them. You’ll learn about the capital structure of a firm and sources long term funds, how to value investment opportunities, including the assessment of corporate entities for mergers, acquisitions and divestments and how to evaluate and manage financial risks.

• Financial policy decisions - 15%

  • Advise on strategic financial objectives.
  • Analyse strategic financial policy decisions.
  • Discuss the external influences on financial strategic decisions.

• Sources of long term funds - 25%

  • Evaluate the capital structure of a firm.
  • Analyse long-term debt finance.
  • Evaluate equity finance.
  • Evaluate dividend policy.

• Financial risks - 20%

  • Discuss the sources and types of financial risks.
  • Evaluate financial risks.
  • Recommend ways of managing financial risks.

• Business Valuation - 40%

  • Discuss the context of valuation.
  • Evaluate the various valuation methods.
  • Analyse pricing and bid issues.
  • Discuss post-transaction issues.

• How to book an exam:

  For information on how to book your exams, and associated fees, visit the CIMA website.

• Dates and locations:

  F3 consists of a 90 minute objective test. This is available on demand, meaning it can be sat at any time at a Pearson VUE centre, or remotely at home. Find your nearest Pearson VUE centre

• Scheduling:

  We recommend that you schedule an exam at least two weeks in advance.

• Exam structure:

  Objective tests consist of short multiple choice questions, number entry questions, drag and drop questions and other formats. For information about results visit the CIMA website.

  The three objective tests within the Strategic Level can be sat in any order. You must pass (or be exempt from) each of these objective tests before you can move onto the case study exam. The Strategic Level case study exam is the last exam that you will take.

• CIMA membership:

  You are required to become a student member of the Chartered Institute of Management Accountants (CIMA) to fulfil your qualification. Become a member on the CIMA website.

You must have completed the Management level before you can progress on to the Strategic level. Candidates who have passed the Gateway Assessment will be exempt from the Certificate in Business Accounting, Operational and Management levels, and can move directly to the Strategic level. More about exemptions.

In an increasingly digital world, rapid changes in technology are creating challenges for the business models of organisations. It is also making it difficult for business leaders and employees to create and preserve sustainable value. Against this digital backdrop, it is imperative that finance professionals possess relevant technical skills, a sound understanding of their organisation, as well as the ability to influence and lead people. This will make them capable of providing the insight their organisations need to craft and successfully execute their strategies.

The 2019 syllabus continues to bridge the skills gap of newly qualified finance professionals worldwide, meeting the employability needs of both business and people. In designing the syllabus, we set out to enhance the relevance of the syllabus to employers; ensure the rigour of the related examinations and align the learning experience of candidates to the real world.

The case study is designed to bring together the knowledge learnt at the objective test levels. The case study exam is tested using core syllabus areas designed to reflect the daily tasks expected of a finance professional at the relevant exam level.

The Strategic level focuses on long term strategic decision making. Candidates will be able to support organisational leaders to craft strategy; evaluate and manage risks that might prevent organisations from successfully implementing strategy; value organisations; and source financial resources required to implement strategy.

At the Strategic level, the role simulated is that of the senior finance manager. The Case Study Examination provides a simulated context which allows learners to demonstrate that they have acquired the required knowledge, skills, techniques and mindset for that role.

For further details please follow the examination blueprints.

Please note that in order to sit the case study exam, you will need to have passed all of the Strategic level objective tests.

• How to book an exam:

  For information on how to book your exams, and associated fees, visit the CIMA website.

• Dates and locations:

  Case study exams can be sat at a Pearson Vue centre, or remotely at home. Find your nearest Pearson VUE centre.

  Case study exams are across a three day period four times a year - February, May, August, and November. For these dates visit the CIMA website.

• Exam structure:

  The Case Study exams consist of a series of tasks based on pre-seen material. The pre-seen material will be made available within the CGMA^®Study Hub 6 weeks prior to the exam window. For information about results visit the CIMA website

You must pass (or be exempt from) all three Strategic Level objective tests before you can move onto the case study exam. If you have sat exams that you feel may give you exemptions from the case study please check with CIMA. Full details can be found here.

The Strategic Level Case Study exam is the last exam you will take. In addition to completing your exams, you will also need a minimum of three years' verified relevant work-based practical experience in order to become a Chartered Global Management Accountant (CGMA).