You’ll learn about the role of finance in organisations, the structure and shape of the finance function, how the finance function interacts with the organisation to create and preserve value, data usage by the finance function and the technology landscape and its impact on organisations and the finance function.

• Role of the finance function - 20%

  • Explain the roles of the finance function in organisations.
  • Describe the activities that finance professionals perform to fulfil the roles.

• Technology in a digital world - 20%

  • Outline and explain the technologies that affect business and finance.
  • Examine how the finance function uses digital technologies to fulfil its roles.

• Data and information in a digital world - 20%

  • Describe the ways in which data is used by the finance function.
  • Explain the competencies required to use data to create and preserve value for organisations.

• Shape and structure of the finance function - 20%

  • Describe the structure and shape of the finance function.
  • Explain what each level of the finance function does.

• Finance interacting with the organisation - 20%

  • Describe how the finance function interacts with operations.
  • Describe how the finance function interacts with sales and marketing.
  • Describe how the finance function interacts with human resources.
  • Describe how the finance function interacts with IT.

• How to book an exam:

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

• Dates and locations:

  E1 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 Operational 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. When you have passed the case study exam you can move onto the Management Level.

• 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 all four subjects in the Certificate in Business Accounting before progressing on to the Operational Level. AAT qualified candidates, and those with a relevant degree may be exempt from the Certificate in Business Accounting and proceed straight to the Operational Level. More about exemptions.

You’ll learn the importance of costs in the production, analysis and use of information for decision-making in companies. P1 covers short-term budgeting, and making short-term decisions on products and services, as well as digital issues in costing.

• Cost accounting for decisions and control - 30%

  • Distinguish between the different rationales for costing.
  • Apply the main costing concepts to organisations and cost objects.
  • Apply costing methods to determine the costs for different purposes.

• Budgeting and budgetary control - 25%

  • Distinguish between the different rationales for budgeting.
  • Prepare budgets.
  • Discuss budgetary control.

• Short term commercial decision making - 30%

  • Describe the main types of short-term decisions made by organisations.
  • Explain the underlying concepts used for short-term decision-making.
  • Apply appropriate techniques to support short-term decisions.

• Risk and uncertainty in the short term - 15%

  • Apply basic risk management tools in the short term.

• How to book an exam:

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

• Dates and locations:

  P1 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 Operational 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. When you have passed the case study exam you can move onto the Management Level.

• 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 all four subjects in the Certificate in Business Accounting before progressing on to the Operational Level. AAT qualified candidates, and those with a relevant degree may be exempt from the Certificate in Business Accounting and proceed straight to the Operational Level. More about exemptions.

You’ll learn about the regulation and preparation of financial statements, giving you the skills to produce basic financial statements for individuals. You’ll also learn about working capital and business tax.

• Regulatory environment of financial reporting - 10%

  • Identify regulators and describe their role.
  • Apply corporate governance principles to financial reporting.

• Financial statements - 45%

  • Identify the main elements of financial statements
  • Explain specific financial reporting standards.
  • Apply financial reporting standards to prepare basic financial statements.

• Principles of taxation - 20%

  • Distinguish between different types of taxes.
  • Calculate tax for corporates.
  • Explain some relevant issues that affect taxation.

• Managing cash and working capital - 25%

  • Distinguish between the types and sources of short-term finance.
  • Explain and calculate operating and cash cycles.
  • Apply different techniques used to manage working capital.

• How to book an exam:

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

• Dates and locations:

  F1 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 Operational 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. When you have passed the case study exam you can move onto the Management Level.

• 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 all four subjects in the Certificate in Business Accounting before progressing on to the Operational Level. AAT qualified candidates, and those with a relevant degree may be exempt from the Certificate in Business Accounting and proceed straight to the Operational 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 Operational level focuses on short term decision making. You’ll be able to work with others in your organisation and use appropriate data and technology to translate medium term decisions into short term actionable plans.

At the Operational level, the role simulated is that of an entry level finance professional and the capstone Case Study Examination provides a simulated context, which allows candidates 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 Operational 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

• 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 pass (or be exempt from) all three Operational 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.

When you have passed the case study exam you can move onto the Management Level.