Operational Exam Blueprints 2023 2024 Final For Web

Operational level
examination blueprint
Incorporating Operational Case Study
Examination, E1, P1 and F1 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 perform.
Passing each of the three levels of the CGMA the core purposes of the blueprints is to assist learners more important that finance professionals shift their focus In addition, the purpose of the Case Study Examination
Professional Qualification is the litmus test against in getting into the mindset the examination demands. from foundational and intermediate proficiency level, to is to assess the candidate’s proficiency in those specific
which employers evaluate a candidate’s capabilities to applying a higher-level expertise. The 2019 Professional skills that are less likely to be automated. The Case Study
drive organisational success. Qualification is a result of these research findings and Examination blueprints articulate the business simulation
Improving employability – now and has been designed to drive employability and through the core activities and assessment outcomes. The
For the first time, CIMA is releasing blueprints for its
Professional Qualification Examination. The blueprints
in the future continued growth. Objective Test blueprints state the job tasks through the
representative task statements. As a result, learners are
will demystify the examination – giving greater clarity The purpose behind the updated 2019 Professional
clear about the basis for each type of assessment.
on examinable topics; assessment approach, design Qualification is to ensure the relevance of the finance
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.
At the Operational level, learners are expected to
The purpose — setting expectations perform functions of an Entry level finance professional.
The examination blueprints give learners the clearest Companies expect finance professionals at this level
expression of what is expected of them in the CGMA to be able to leverage data and technology to breakdown
Professional Qualification Examinations. It tells learners medium-term decisions into short-term actionable
what to prepare for and how to prepare for the Case plans. This blueprint will orient learners with these
Study Examinations and the Objective Tests. Working expectations and prepare them for their real life roles.
in tandem with the syllabus document, it aids the
The ‘I Can’ statements, which reflect the competencies
learner in anticipating the type of questions to expect
of a learner at the end of a Case Study Examination
in the 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 Operational level examination blueprint 2

Contents
Getting the skill sets and the mindset The blueprint of the Operational Case Study 5. Outline 24. Acquiring the knowledge, skills and techniques
Examination gives the learner the first experience of
that matters the tasks they will be expected to accomplish through
required of the Entry level finance professional
6. Effective dates and examinable standards role – Operational level objective tests
The fundamentals and the skills acquired through each a simulated job scenario. The role simulated is that of
subject will be tested in the Objective Tests. Questions an Entry level finance professional. w Exam period covered w Examination purpose
can be asked across the whole breadth of the Syllabus
and the tests are weighted based on remembering, Driving employability through simulation w International Accounting Standards and
w Understanding the blueprint
understanding and application with some analysis and Exposure Drafts
Case Study materials are provided well in advance of w Examination blueprints – Objective Tests
evaluation in highly structured scenarios. Learners the actual examination so that learners can immerse
must pass the Objective Tests to move on to the Case 7. Developing the blueprints
themselves into its context. The pre-seen materials w E1: Managing Finance in Digital World
Study Examination. provide an opportunity for learners to consider their
8. Operational level examinations – An overview w P1: Management Accounting
previous studies in the context of the workplace and
While the Objective Tests check that learners have the explore the links between the individual subjects as w F1: Financial Reporting
w The CGMA Professional Qualification
best knowledge and skill set to tackle a situation, part of their research and preparation for the Case w Exam approach
what’s equally important is having the right attitude Study Examination. The Case Study Examination w CIMA’s approach to assessment
and mindset to affect and influence decisions, actions w Structure and format
presents challenges and situations that a finance w Operational Case Study Examination
and behaviours. The Case Study Examination gives professional will encounter and employers have w Item types
learners ample opportunities to demonstrate these w Operational level Objective Tests
identified as critical at that level. w Reference materials
traits and an awareness and understanding of their
simulated organisation and the ecosystem in which it The individual subjects in the Operational level of the 11. Assessing skills w Marking, grading and feedback
operates. To be successful in the examination — and CGMA Professional Qualification and the blueprints
have been designed to make learners ready for the w Skill levels and verbs w Candidate experience
by extension in the real world of work — a learner is
also required to demonstrate qualities and business world and be productive from day one. The
Operational level Case Study Examination focuses and 14. Simulating the role of the Entry level finance 48. Glossary
competencies such as leadership, professional
judgement and ethical awareness. assesses the candidate on six core activities – that an professional – The Operational Case Study
49. Appendix - International accounting standards
Entry level finance professional is expected to perform examination
frequently. At this level, they are expected to draw
The Case Study Examination — on their technical skills to collect and interpret data, w Exam purpose
demonstrating the aptitude and generate insights and advise stakeholders in
w The simulation
the attitude decision-making. Their capability to do so is reflected
in the ‘I Can’ statements and tells employers about w Simulating the role of the finance function
The Case Study Examination tests the knowledge, their competencies. w Entry level finance professional
skills and techniques from the three pillars within one
The CGMA Professional Qualification Examination simulating the role
simulated scenario, and is taken at the end of each
level of the CGMA Professional Qualification. Blueprints are pointers to the direction the future of w Entry level finance professional – simulating
Candidates are given a fictional Case Study before the finance will take. With the needs of the employer and
the job tasks — mindset of the CGMA
examination, and are expected to give solutions to the the needs of a digitising business landscape at its core,
the 2019 Professional Qualification seeks to build Professional
situations and challenges presented within the
examination — based on the knowledge and skills capabilities, future-proof skills, improve employability w Understanding the blueprint
acquired from the three subjects. The Case Study and create finance professionals who will be
navigators of disruption. It is yet another step from w Operational Case Study Examination blueprint
mimics their role in a real-work scenario, at each level
of the qualification. CIMA to help and partner you in leading the w Examination approach
transformation – go beyond limits, beyond insights
and beyond expectations. w Structure and format
w Item types
w Reference materials
w Marking, grading and feedback
w Candidate experience
3 Operational
Strategic level examination blueprint 4
Effective dates and
Outline examinable standards
This is the examination blueprint for the Operational This blueprint focuses on 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 Operational 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 November 2019 to January 2021
Examination and the Objective Tests for the period February 2020 with the Case Study Examinations. This is the first release of the examination blueprint for
w E1: Managing Finance in a Digital World
stated on the cover of this document. It also provides the 2019 Professional Qualification Syllabus. Any updates
information about the format, structure and weightings w P1: Management Accounting to the blueprint document in future publications will be
of the assessments. It complements the syllabus detailed here.
w F1: Financial Reporting
document and provides details specifically related to
the different type of assessments and is our most You can take a look at the blueprints for the
comprehensive statement to date on CIMA’s Management and Strategic level 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 34 — P1 removal of task statement calculate
w Document the competencies, skills and knowledge subdivision of total usage/efficiency variances into
necessary to pass the Case Study Examination. mix and yield variances.
w Assist learners in preparing for the examination. Page 46 — P1 delete bullet point ‘Learning Curve’.
Other minor weblink updates
w Apprise educators about the knowledge and skills
learners will need to pass the examination. 2 31 July 2020 Cover — updated examinable period dates
Pg 21, 46, 47 — minor text and web link updates
w Apprise employers of what passing learners can do.
Appendix — update mapping for IFRS 15 and IAS38
w Guide the development of examination tasks
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
The examination will be set in accordance with of approaches, learners may refer to new standards
relevant International Accounting Standards and before the effective date where early adoption
International Financial Reporting Standards. This also is 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 Operational level examination —
exam blueprints 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 organisational learning system that enables them to acquire skills, continuous change. The syllabus, assessments and
into the future of finance, and more crucially an performance. competencies and the mindset that are in high practical experience requirements ensure members
understanding of the future needs of businesses and demand with employers. This is more important than are not only competent in the essential accounting,
The blueprints will be reviewed and updated on an ever, keeping in mind the increasing pace of change finance and business-related skills, but also in the skills
employers globally. The 2019 Professional
annual basis to ensure CIMA’s Examinations remain and 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 Operational level focuses on the short term and
finance professionals.
skills and techniques that employers and organisations The CGMA Professional Qualification is divided into the implementation of decisions. Learners will be
value and need. You can get the PDF with the full details of the three levels – Operational, Management and Strategic. able to work with others in the organisation and use
research, here: Accounting in extraordinary times: Each of these levels consist three pillars of domain appropriate data and technology to translate
By collaborating with learning partners, test design
the future of finance knowledge – Enterprise, Performance and Financial. medium-term decisions into short-term
experts and psychometricians, we translated the
syllabus content into core activities, assessment Passing each level of the qualification confirms a actionable plans.
outcomes and representative task statements. Based candidate’s capabilities to perform the tasks at that
on this, we produced the draft blueprints that provides level in the workplace to the highest standards. When
a clearer direction on the approach to be taken in combined with the required practical experience, the
examinations.
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.

AWARD: Membership of the Chartered Institute of Management
CIMA’s approach to assessment Operational level Objective Tests
Accountants (ACMA/FCMA) and the CGMA® designation Each level of the CGMA Professional Qualification The Operational Case Study Examination is
culminates in a Case Study Examination, which underpinned by three Objective Tests, one for each of
integrates the knowledge, skills and techniques from the professional qualification subjects. The Case Study
Assessment of practical experience requirements (PER) across the three pillars into one synoptic capstone Examination can be attempted only after all Objective
examination. The Case Study Examination is a role Tests for the level have been completed or if
Strategic Strategic Case Study Exam simulation. It requires candidates to perform authentic exemptions have been given.
Level work-based activities presented during the course of
Within each level, learners are free to study and take
the examination, drawing together learning from each
objective tests in any order they wish. CIMA’s
of the three subjects to provide solutions to the issues
suggested order of study is to begin with the Enterprise
and challenges asked. Case Study material is provided
pillar subject, then move to the Performance pillar
E3 P3 F3 in advance, so that learners can immerse themselves
subject and then to the Financial pillar subject. The
Strategic Risk Financial in the fictional organisation and industry for the
qualification has been designed so that, at each level,
Management Management Strategy simulation and can analyse the organisation’s current
the Enterprise pillar gives the broad context in which
position prior to the examination.
the Performance and Finance pillars operate. The
Management
The Case Study Examination, at each level, simulates Performance pillar provides the context of what
AWARD: Advanced Diploma in Management Accounting (Adv Dip MA)
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 learners
E2 P2 F2 skills and techniques which provide the foundation for studying the Operational Level to start with E1, then
Managing Advanced Management Advanced Financial approaching the Case Study Examination. move to P1 and then to F1 before sitting the
Performance Accounting Reporting Operational Case Study Examination.
Operational Case Study Examination
Operational AWARD: Diploma in Management Accounting (Dip MA) At the Operational level, the role simulated is that of an
Level Entry level finance professional and the capstone Case
Operational Case Study Exam Study Examination provides a simulated context,
which allows candidates to demonstrate that they
have acquired the required knowledge, skills,
E1 P1 F1 techniques and mindset for that role.
Managing Finance Management Financial The Operational Case Study Examination is the first
in a Digital World Accounting Reporting role simulation that learners encounter when studying
for the CGMA Professional Qualification. Passing the
Enterprise pillar Performance pillar Financial pillar Operational Case Study Examination leads to the
award of CIMA’s Diploma in Management Accounting
Certificate AWARD: Certificate in Business Accounting (Cert BA) and candidates can then progress to the
Level Management 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: utilising 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 the Entry level
finance professional – The Operational
Case Study examination
Examination purpose The simulation
CIMA’s 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.
Operational level examination blueprint 14

Simulating the role of the At the heart of the finance function are basic activities Entry-level finance professional —
– the function’s DNA. Whether you are assessing
finance function finance risk, reconciling accounts or compiling simulating the role
The finance function has a mandate to go beyond its management information reports, the process The role simulated is that of an entry-level finance
core historical accounting role. This changing mandate activities remain constant. professional (sometimes known as a finance officer or a
doesn’t discard core accounting; it’s still an essential At all levels of the CGMA qualification, learners are staff accountant).
foundation of the finance function. However, enabled expected to create information, insight, influence and
by new technologies, the function is now capable of impact. However, the scope, reach and the nature of this
assessing a broader range of information and is activity varies by level and is defined in the role
becoming a more influential player within an simulation and by the core activities defined for that role. The role simulated is that of a finance officer The finance officer makes full use of
organisation. working within a collaborative team in the the technologies that are available for
finance department that is responsible for the collection, cleansing and analysis
planning and coordinating business of data. The preparation of reports also The finance officer also assists
operations through the preparation of budgets relies heavily on understanding of how in the preparation of financial
Figure 1: Basic finance activities from information to impact reports to enable external
and other reports. The role focuses on the the business is structured. The finance
short-term; assisting with the preparation of officer is required to interact with stakeholders to understand how
useful and relevant financial reports, drawing colleagues from finance and all other the business is performing. That
Analyse Advise Apply requires an understanding of the
upon data collected by the company’s functional areas of the business.
Information Insight Influence Impact information system. The finance officer may regulations relating to financial
be asked to evaluate short-term opportunities reporting and business taxation.
and threats, such as selecting between
Acumen alternative courses of action and may also
Assemble The fact that the
provide information to support decisions on
finance officer’s work
working capital, cash and short-term finance.
affects the behaviour of
internal and external
Finance works Finance works stakeholders can raise
The finance officer offers insights ethical implications.
in isolation with others
that influence the decisions taken The finance officer
by her colleagues and superiors. must be aware of
The finance officer must act in a personal
More automatable activities Less automatable activities professional manner, ensuring responsibilities working
that her reports are sufficiently within the role.
complete and accurate to
facilitate decisions.

Entry level finance professional – Entry level finance professional – Understanding the blueprint
simulating the job tasks mindset of the CGMA finance The Case Study Examination blueprint articulates the w Assessment outcome – A clear assertion of what a
Within each Operational Case Study Examination, six professional synoptic relationships across the three pillars for the CGMA-qualified finance professional can do when
core activities will be assessed. These core activities level. Its core activities are integrated and the Examination has been completed and what the
The Case Study Examination allows the opportunity to multidisciplinary. By completing the core activities, assessment will be designed to measure. Case
represent the tasks that are most frequent, critical and demonstrate technical knowledge applied to a
important to the Entry level finance professional role. successful candidates will implicitly demonstrate not Study assessment outcomes will be synoptic.
scenario. But in order to respond fully to the given just the technical abilities but all the required
The six core activities are: scenario and problems to add value to the simulated A weighting range is given for each core activity. This
competencies and the mindset for that level.
organisation, candidates will need to ensure that they represents the amount of time that will be allocated to
A. P
repare costing information for different purposes have the attitude and mindset to affect and influence As detailed above, the Case Study Examination each core activity in the examination.
to meet the needs of management. their own decisions, actions and behaviours and those blueprint contains the following:
B. Prepare budget information and assess its use for of others within the organisation. They must also have w Core activities – Business-related tasks that are
planning and control purposes. an awareness of the environment in which the common to the role being simulated and valued by
organisation is operating, and the increasingly employers which, if performed satisfactorily, enables
C. Analyse performance using financial and digital ecosystem.
non-financial information. the demonstration of the assessment outcomes.
Enabling qualities and competencies such as
D. Apply relevant financial reporting standards and communication, professional scepticism, leadership,
corporate governance, ethical and tax principles. professional judgement, ethical awareness and
E. Prepare information to support short-term business acumen are critical to performing well in the
decision-making. examination tasks as well as the workplace.
Knowledge,
F. Prepare
information to manage working capital. The core activities require and draw together the
knowledge, skills and techniques acquired while
skills, Core Assessment
The core activities are linked to associated
studying for Objective Tests, and combining them with techniques activities outcomes
assessment outcomes expressed in terms of ‘I Can’ Inherent candidate Successful candidates
statements that speak directly to the skills and
the mindset of a CGMA finance professional. The and mindset attributes required to demonstrate the
pre-seen material and information provided during the
competencies that drive the employability of successfully perform competencies reflected
course of the Case Study Examination provides a rich
successful learners. the role-related tasks in the assessment
simulation which enables the learner to demonstrate
outcomes in completing
the acquisition of these and their overall competency
these tasks
in the role.

Operational Case Study
Examination blueprint
Core Activity Assessment outcome Weighting Core Activity Assessment Outcome Weighting
A. Prepare costing w I can use appropriate technologies to gather data for costing 12–18% D. Apply relevant w I can apply relevant IFRS in a given context, to facilitate the 12–18%
information for different purposes, from digital and other sources. financial reporting preparation of financial statements.
purposes to meet the standards and
w I can apply different costing methods to produce costing w I can apply the principles of corporate governance and ethics.
needs of management corporate governance,
information suitable for managers needs.
ethical and tax w I can identify the impact of tax regulation on transactions, decisions
w I can explain costing information to operational and senior principles and profits.
management using appropriate formats and media.
E. Prepare information w I can identify relevant costs and benefits. 17–25%
w I can compare different costing methods and systems to determine to support short-term
the most suitable for use by the organisation for different purposes. w I can apply appropriate techniques that support short-term
decision-making
decision-making.
w I can identify the cost information required for digital cost objects.
w I can prepare information to support operational decisions.
B. Prepare budget w I can use appropriate technologies to gather data from digital and 17–25%
w I can explain factors that could influence short-term decisions.
information and assess other sources to co-ordinate budget preparation.
its use for planning and w I can apply appropriate techniques to deal with situations where
w I can explain and use different forecasting methods to assist in
control purposes there is risk and uncertainty.
budget preparation.
F. Prepare information w I can identify appropriate sources of short-term finance and 7–13%
w I can use different approaches to produce information for use by
managers when preparing budgets. to manage working methods of short-term investments.
capital
w I can explain budget information to managers using appropriate w I can explain how to manage and control working capital.
formats and media. w I can explain working capital ratios in comparison to prior periods or
w I can apply various techniques to determine the effect on budgets of to other organisations.
changes to variables. w I can identify the impact of changing working capital policies.
w I can explain to functional managers how budgets are used for
planning and control purposes.
w I can discuss the behavioural implications of budgetary planning
and control.
w I can compare alternative approaches to budgeting to determine
their suitability for the organisation and for different purposes.
C. Analyse performance wI can identify information that can enable managers to review 17–25%
using financial and performance.
non-financial
wI can interpret variances to review functional and organisational
information
performance.
wI can identify appropriate KPIs for different functions of the
organisation.
wI can explain company performance using KPIs.
wI can prepare performance reports for use by different functions and
for different purposes in appropriate formats and media.

Examination approach Examination tasks will not be set that require specific Marking, grading and feedback Candidate experience
calculations. However, candidates should, wherever
Structure and format The Case Study Examinations are human marked. There are four examination windows per year. For
possible, show how they have used and interpreted
details of upcoming Case Study Examination dates,
The examination is three hours long. A 15-minute data from the pre-seen and the new information The Case Study results will contain the
visit exam timetable.
tutorial is available before to the start of the presented during the examination and/or undertook following information:
examination to allow candidates to familiarise analysis or calculations to support their responses. Pre-seen material will be published on the AICPA and
w Grade: Pass or fail
themselves with the test driver. CIMA website ahead of the examination. Candidates
Reference materials
w Scaled score: 0 to 150 with 80 and above must use the material to prepare for the examination,
The examination has four sections (tasks), which are The mathematical tables that will be included for being a pass immersing themselves in the simulated scenario
each 45 minutes long. All sections are equally reference in each Case Study Examination are: and consider the organisation’s current position and
weighted. Candidates may finish a section early and There is no requirement to obtain a pass or meet a
future strategy.
move on to the next but cannot return to previous w Present value table minimum threshold for each core activity.
sections in the time remaining. The examination will take the form of a ‘day in the life’
w Cumulative present value table Feedback on performance against each core activity
of the role being simulated. Candidates will face a
There may be more than one sub-task within each will be provided so that learners know their areas of
w Normal distribution table series of tasks that relate to one or more of the core
section and an indication of how long to spend on weakness for further study.
For details go here. activities in the blueprint.
each sub-task will be given to allow candidates to More information on performance descriptors is
manage their time. If no weighting is given, then During the course of the examination, new information
available here.
candidates should assume that the sub-tasks are will be provided at the start of each section (task). In
equally weighted. A copy of the full set of pre-seen material will be response, candidates will have to consider the new
available for reference in the test driver throughout the information that’s been given, as well as their previous
More than one core activity will normally be assessed assessment. A calculator is included within the test analysis of the pre-seen material.
in each section/task and the order of core activities driver although candidates are permitted to use their
and assessment outcomes in the blueprint does not own calculators as long as it’s a CIMA approved model. Results will be available in MyCIMA about 6 weeks
reflect how these might be structured in the after the examination.
examination. A whiteboard is available for planning and workings
along with an on-screen scratch pad. For more information on the operational and
All core activities will be assessed in each form of the administrative aspects of the examination please
examination in line with the weightings. A sample of refer to cimaglobal.com.
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. For full details
of the word processing functionality and to try this in
advance of the examination, visit cimaglobal.com.

Acquiring the knowledge, skills and
techniques required of the Entry level
finance professional role – Operational
level objective tests
Examination 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 pre-requisite 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 2019
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 Operational level examination blueprint 24

Examination blueprints – Objective Tests E1A: Role of the Finance Function Skill level
E1: Managing Finance in a Digital World Lead outcome Component Remembering Application Analysis Evaluation
outcome and
How the finance function is organised. understanding Representative task statement
Content weighting: 1. The roles a. Enables Understand how technology and competition
of the finance organisations drive the fast changing and unpredictable
function in to create and P contexts in which organisations operate.
organisations preserve value
Content area Weighting
b. Shapes how Understand how the finance function
organisations enables, shapes and narrates value
A. Role of the finance function 20% create and P creation thorough planning, forecasting,
preserve value resource allocation, performance
B. Technology in a Digital World 20% management and financial reporting.
c. Narrates Understand the purpose and principles of

C. Data and Information in a Digital World 20% how corporate governance, the ethical
organisations P responsibilities of the organisation and
D. Shape and structure of the finance function 20% create and individuals and ways of achieving
preserve value corporate social responsibility.
E. Finance Interacting with the Organisation 20% 2. The activities a. Collates Understand how data is collected, cleaned
that finance data to prepare and connected by finance.
100% professionals information P
perform to fulfil about
the roles organisations
b. Provides Understand the types of analyses used to

insight to produce insights.
users by P
analysing
information
c. Understand how finance communicates

Communicates to influence key stakeholders (audiences,
insight to P frequency and format).
influence users
d. Supports the Understand how finance supports the

implementation implementation of decisions to achieve
of decisions P the desired impact.
to achieve the
desired impact
e. Connects Understand how finance connects the

the different different activities in an organisation.
activities that P
connect to
each other

E1B: Technology in a Digital World Skill level E1C: Data and Information in a Skill level
Digital World
Lead outcome Component Remembering Application Analysis Evaluation
outcome and Lead outcome Component Remembering Application Analysis Evaluation
understanding Representative task statement outcome and
understanding Representative task statement
1. Technologies a. The key Understand the key features and dynamics
that affect features of of the fourth industrial revolution. 1. Data and a. General Understand how the finance function can
business and the fourth P the finance usage of data
P
leverage novel technologies and the
finance industrial function in finance associated data to improve information used
revolution by decision-makers.
b. The key Understand key technologies and their b. Specific Understand how the finance function can
technologies impact on an organisation including, cloud usage of data use data and information to assist sales and
that define and computing, big data, data analytics, process in primary P marketing to better understand customers
drive the digital P automation, artificial intelligence, data activities of and developing customer value proposition.
world visualisation, blockchain, internet of things, finance
mobile technologies and 3-D printing.
Understand how the finance function can use
2. How the a. Digital Understand key technologies and how the P data and information to assist operations in
finance technology finance function use cloud computing, big enhancing operational efficiency.
function data, data analytics, process automation,
uses digital P artificial intelligence, data visualisation, Understand how the finance function can
technologies blockchain, internet of things, mobile P partner with other areas of the organisation
to fulfil its roles technologies and 3-D printing. to create value from digital assets.
b. Digital Understand how a digital mindset can Understand how the increased use of data
mindsets P transform finance functions, processes impacts ethical considerations including
and measurement of performance.
P data protection, privacy and overall
corporate digital responsibility.
c. Automation Understand the components of the finance
and the future function (financial reporting, management 2. Data to a. Data Understand how the feedback that
of work P accounting, treasury and internal audit) create and strategy and the finance function receives from
and how they can be affected by the preserve planning P stakeholders would facilitate future data
increased use of automation. value for needs and associated strategy.
organisations
d. Ethics of Understand how the increased use of
technology technology impacts ethical considerations b. Data Understand how the process of data
usage P including data protection, privacy and engineering, extraction, transformation and loading (ETL)
overall corporate digital responsibility. extraction P systems impacts the use of data in business
and mining intelligence (BI) systems, big data analytics
Understand how the increased use of and data visualisation.
technology impacts legal and social
P considerations including data protection, c. Data Understand the finance function’s role in data
privacy and overall corporate digital modelling, modelling, data manipulation and analysis.
responsibility. manipulation P
and analysis
d. Data Understand the finance function’s role in

and insight the management of the components of
communication P big data including variety, volume, veracity
and velocity.

E1D: Shape and Structure of the Skill level E1E: Finance Interacting with Skill level
Finance Function the Organisation
Lead outcome Component Remembering Application Analysis Evaluation Lead outcome Component Remembering Application Analysis Evaluation
outcome and outcome and
understanding Representative task statement understanding Representative task statement
1. The structure a. Evolution Understand the contemporary 1. The finance a. Main role of Understand the main role of operations in the
and shape of of the shape transformation of the finance function in function’s operations design of products/services and processes
the finance of the finance the digital era from roles that generate relationship to P and how this relates to operations, supply and
function function P information to roles that turn information operations the finance function.
into insight and how finance communicates
that insight to decision-makers. b. Areas of Understand the contribution of operations
interface with management to the efficient production
Understand the different historical finance P and delivery of customer specific goods
organisational configurations and and services.
P structural dimensions that organisations
may adopt. Understand how the relationships within the
supply chain can be managed including lean
b. Shape of Understand the hierarchical shape of the synchronisation, contractual/relational
the finance finance function and how automation approaches, material requirement planning,
function in the P could shift the traditional structure to a P quality planning and control, statistical
digital era diamond shape. process control, operational improvement,
total quality management (TQM), Kaizen, Six
Understand how reconfiguration, shared Sigma, lean thinking and reverse logistics.
services, outsourcing, business process
re-engineering, relocation, segregation c. Key Understand how the finance function
P of the finance function and supporting performance P helps manage operations through the use
involvement of business partners impacts indicators of key performance indicators.
the finance function.
2. The finance a. Main role Understand the marketing mix (The 7 Ps)
2. What a. Finance Understand the components of the finance function’s of sales and and marketing environment including
each level of operations
P
function (financial reporting, management relationship marketing P societal, economic, technological, political
the finance accounting, treasury and internal audit) and to sales and and legal factors affecting marketing
function does how they provide insight to decision-makers. marketing (PESTEL).
b. Specialist Understand how the finance function works Understand the main techniques of sales and
areas including with FP&A, taxation, project management marketing including market research, market
financial and project appraisal to provide insight to P segmentation, market targeting and
reporting P decision-makers. positioning of products, market data gathering
and financial techniques and methods of analysis.
planning and
analysis (FP&A) b. Areas of Understand how the finance function
interface with interacts with sales and marketing
c. Strategic Understand strategic partnering for finance P including product development, product/
partnering for value and how business partnering service life-cycles and costing.
value P can influence an organisation to make
appropriate decisions. Understand the role of Big Data analytics
and its use in the marketing process
d. Strategic Understand the importance of strategic including predicting customer demand,
leadership of leadership of the finance functions and the P improving the customer experience,
the finance P link to having a team with the appropriate monitoring multi-channel transactions
team knowledge, skills and experience. and identifying customer preferences.
c. Key Understand how the finance function

performance P helps manage the supply chain through
indicators the use of key performance indicators.

E1E: Finance Interacting with Skill level P1: Management Accounting
the Organisation (cont.)
What the finance function does.
outcome and Content weighting:
3. The finance a. Main role Understand the HR activities associated

function’s of human with developing employees including Content area Weighting
relationship resources recruitment, selection of staff, staff
to human P development and training, performance
A. Cost Accounting for Decision and Control 30%
resources management, the role of incentives and
practices related to motivation and
reward systems. B. Budgeting and Budgetary Control 25%
b-c. Areas Understand how the finance function
of interface interacts with human resources through C. Short-Term Commercial Decision Making 30%
with finance the use of key performance indicators.
and key P
D. Dealing with Uncertainty in the Short-Term 15%
performance
indicators
100%
4. The finance a. Main role Understand the role of information systems
function’s of IT in organisations and how IT enables
relationship P knowledge management between finance,
to IT operations, sales and marketing
and human resources.
Understand the ways of organising and

managing information systems in the
context of the wider organisation including
enabling transformation, the emergence of
P new technology, geographically dispersed
teams, enhancing internal and external
relationships and ethical and social issues
with information systems and data.
Understand the costs and benefits of

information systems including privacy and
P security, systems architecture, data flows
and big data information management.
b-c. Areas Understand how the finance function

of interface interacts with IT and the use of key
with finance performance indicators.
and key P
performance
indicators

P1A: Cost accounting for Decision Skill level P1A: Cost accounting for Decision Skill level
and Control and Control (cont.)
1. Rationales a. Definition of Understand costing and the different 3. Costing a. Cost Apply marginal (or variable) throughput
for costing costing P reasons for calculating costs. methods accumulation, and absorption accounting methods for
allocation, profit reporting and inventory valuation,
b. Rationales Understand the difference between apportionment P including the reconciliation of budget and
for costing P financial accounting and cost accounting. and absorption actual profit using absorption and/or
marginal costing principles.
P Identify inventory costs and period costs.
b. Standard Apply standard costing methods including
Understand how management accounting costing the reconciliation of budgeted and actual
P fits into and supports a business’ P profit margins, distinguishing between
operations. planning and operational variances.
Understand how the cost management and Establish manufacturing standards for
transformation model is designed to help P material, labour, variable overhead and
P businesses achieve and maintain cost- fixed overhead.
competitiveness.
Calculate standards and variances for
Recognise how management accountants P service industries, public services and
P help make tactical business decisions. manufacturing companies.
2. Costing a. The main Define a cost element and understand Calculate price/rate and usage/efficiency
concepts costing how the amount paid for a resource is P variances for material, labour and variable
elements P consumed by an activity and included in a overhead.
cost object or pool.
Calculate subdivision of total usage/efficiency
P Define a cost object or a cost pool. P variances into mix and yield variances.
Understand the difference between direct Calculate fixed overhead expenditure and
P costs and indirect costs.
P volume variances.
Understand the difference between Calculate subdivision of the fixed overhead

P variable costs and fixed costs. P volume variance into capacity and
efficiency variances.
P Define overhead costs.
Calculate sales price and sales volume
variances (calculation of the latter on a
Understand the relationship between direct P unit basis related to revenue, gross profit
P and variable costs and direct and fixed
and contribution).
costs.
Calculate sales mix and sales quantity
Understand the relationship between indirect
P and variable costs and indirect and fixed costs. P
variances. Apply these variances to all
sectors including service industries, public
b. Costing Determine the activity that causes the services and manufacturing companies.
concepts change in cost.
c. Variance Use material, labour, variable overhead,
for different
organisations P analysis (without
P
fixed overhead and sales variances.
mix and yield
and cost
variance)
objects
d. Activity- Calculate the costs for products or
Determine why product costs are P
based costing services using activity-based costing.
calculated using different methods for
P different purposes for different types of Determine the advantages and
organisations. disadvantages of activity-based costing
P compared with traditional marginal and
absorption costing methods.
e. Digital Determine the potential differences and

costing P difficulties of costing digital products as
compared to costing traditional products.

P1B: Budgeting and Budgetary Skill level P1B: Budgeting and Budgetary Skill level
Control Control (cont.)
1. Rationale for a. Role of Understand the purpose of budgeting and d. The Use the output of computer or
budgets budgets P the advantages and disadvantages of technologies spreadsheet based planning models for
implementing budgets. available for P sensitivity analysis (e.g., calculate the
improving impact of changes in material prices on
Understand the potential impact of budgeting budgeted net income).
different legal environments, currency
P fluctuations and/or political climate on Determine potential data problems when
usefulness of budgets. estimating revenues and costs for
budgeting purposes. Determine if data and
Understand the period when budgets P assumptions are reliable, identify any
should be created and what time periods missing data and determine the impact of
P are covered and how that impacts the data outliers.
usefulness of budgets.
Determine the benefits and costs of
b. Rationale for Understand how budgets can help create incremental, zero-based, rolling, and
budgeting P accountability and communication between P activity-based budgets and beyond
individuals and teams. budgeting approaches to budgeting.
Understand how budgets can help further 3. Budgetary a. The concept Understand how and why the budgetary
P the strategic and operating plans of a control of budgetary P control system may provide feedback and
business. control feedforward to the organisation.
Understand how budgets can help Understand how flexible and flexed
P energise and motive individual budgets are utilised in the budgeting
and teams. P process and their relationship to actual
output and costs.
Understand the organisational structure of
P costs and revenues and their relationship Calculate and interpret overall flexed
to controllability of costs. P budget variances.
2. Budgeting a. Forecasting Prepare time series analysis including b. Human Understand the conditions necessary to
concepts moving totals and averages, treatment dimensions of P set effective budgets and how target
P of seasonality, trend analysis using budgeting setting impacts motivation and behaviour.
regression analysis and applicability in
forecasting product and service volumes. Understand how effective budgets must
P identify controllable and uncontrollable
b. Master Determine the budget setting process, outcomes.
budgets limiting factors and the interaction
P between component budgets and the Determine the behavioural impacts of
master budget. budgetary control (short-termism,
P budgetary slack, ignoring of non-financial
Prepare a budget for any account in the factors) and how they can be managed.
P master budget based on projections/
forecasts and managerial targets. Determine the ethical implications in
budgeting on organisations in the context
Determine causality in cost function P of a competitive market, a government
P estimates and impact on budgets. agency, or subsidiaries.
Calculate revenue and cost estimates using
P quantitative analyses.
c. What-if Prepare “what-if” analyses based on

analysis in P alternative projections of volumes, prices
budgeting and cost structures.

P1C: Short-Term Commercial Skill level P1C: Short-Term Commercial Skill level
Decision Making Decision Making (cont.)
1. Short-term a. Pricing Understand the issues that arise in pricing 3. Techniques a. Relevant Understand relevant cash flows and
decisions and revenue decisions and the conflict between to support cost analysis non-financial factors and how it affects
made by maximising P marginal cost principles and the need for short term P make or buy decisions.
organisations decisions full recovery of all costs incurred. decision-
making
Understand relevant cash flows and their
P use in pricing decisions. Understand relevant cash flows and
P non-financial factors and how it affects
Understand the strategic implications of discontinuation decisions.
P short-term decision-making.
Calculate the associated revenues
Use the principles of decision-making, P and costs with make or buy and
P including the identification and use of discontinuation decisions.
relevant cash flows and qualitative factors.
b. Break-even Calculate the breakeven point and output
Understand short-term pricing decisions analysis P level required to meet income targets.
for special orders or special projects and
P the challenge with short-term decision c. Product mix Perform simple product mix analyses in
making and the related impact on decisions with situation where there are limitations on
long-term decisions-making. constraints P product/service demand and one other
production constraint.
b. Product Apply relevant cost analysis to
decisions short-term decisions, including special d. Data & Understand the benefits and costs of
P selling price decisions, make or buy Technology financial and non-financial data and
decisions, discontinuation decisions computer, spreadsheet, or visualisation
and further processing decisions. P outputs to help with make or buy
decisions, product mix decisions with
Prepare a multi-product break-even constraints, discontinuation decisions, or
analysis, including break-even and breakeven point calculations.
P profit/volume charts, contribution/sales
ratios and margin of safety. Prepare the inputs for the use of linear
P programming for situations involving
Apply break-even analysis in multiple multiple constraints.
P product contexts.
Use results of graphical methods and
2. Concepts a. Objectives of Understand the conflicts between cost P simultaneous equations of two variable
used for decision-making accounting methods used for short-term problems to identify optimal solutions.
short-term P decision-making and financial accounting
decision- concepts used for profit reporting and
making inventory valuation.
b. The Understand whether a cost/revenue/cash

underlying flow estimate is relevant when considering a
concepts of short-term decision or project.
short-term P
decision-
making

P1D: Dealing with Uncertainty in Skill level F1: Financial Reporting
the Short-Term
What the finance function does and its implications.
outcome and Content weighting:
1. Basic risk a. Nature Understand the types of risk and

management of risk and uncertainties organisations face when Content area Weighting
in the uncertainty in P preparing and implementing budgets and
short-term short term when making short-term decisions.
A. The Regulatory Environment of 10%
Understand the impact of individuals’ risk Financial Reporting
P attitudes on decision-making in the
short-term.
B. Financial Statements 45%
b. Basic Quantify risk using sensitivity analysis,
sensitivity expected values, standard deviations and C. Principles of Taxation 20%
analysis to probability tables.
budgeting P D. Managing Cash and Working Capital 25%
and short-term
decision-
making 100%
Use a basic sensitivity analysis and “what if”
P in decision modelling to identify variables that
might have impacts on project outcomes.
Use decision trees for multi-stage

P short-term decision problems.
Apply decision models to deal with

P uncertainty in decision-making.

F1A: Regulatory Environment Skill level F1B: Financial Statements Skill level
of Financial Reporting
Lead outcome Component Remembering Application Analysis Evaluation outcome and
outcome and understanding Representative task statement
1. The main a. IFRS Understand the key principles contained
1. Regulators a. The major Understand the need for the regulation of elements conceptual within the IASB’s Conceptual Framework for
and their role regulators financial information and the key elements of financial framework P Financial Reporting.
of the regulatory environment for financial statements
P reporting including local corporate law,
local and international frameworks, local Define the fundamental and enhancing
and international financial reporting standards. P qualitative characteristics of financial
information.
b. What they do Understand the roles and structures of key
bodies involved in the regulation of Understand the elements of financial statements
financial reporting information (e.g., The P prepared in accordance with IFRS .
International Accounting Standards Board
P (IASB), the IFRS Foundation, IFRS Advisory Define the reporting entity for consolidated
Council, IFRS Interpretations Committee
P and un-consolidated financial statements.
and the International Organisation of
Securities Commissions (IOSCO). Understand the recognition (and derecognition)
P criteria within the financial statements.
c. Why they Understand the provisions of the CGMA Code
regulate of Ethics and the relationship to preparation Understand the appropriate measurement
P P bases to a given scenario.
financial of financial reporting information.
reporting
Understand the key presentation and disclosure
P principles for financial statements.
Understand the IFRS standard setting
P process and the interaction of local GAAP
Understand the concept of capital
bodies with the IASB. P maintenance.
Understand rules-based versus principles-
2. Specific a. Non-current Apply the recognition (and derecognition),
P based approaches to accounting
IFRS financial assets initial measurement and subsequent
regulation.
reporting P measurement principles in the financial
2. Corporate a. The role Understand the role of the board in standards statements.
governance of the board corporate governance.
Apply the held for sale and discontinued
principles in corporate P P operations criteria.
and financial governance
reporting b. Leases Apply the recognition, initial measurement
and subsequent measurement principles in
b. Corporate Understand the need and scope for corporate
governance governance regulations and different P the financial statements of the lessee
(excluding sale and leaseback and
and financial approaches to corporate governance
P remeasurement of lease liabilities).
stewardship regulations from around the world.
in financial c. Impairment Identify impairment indicators and account
reporting P for impairment losses.
d. Inventory Identify the components of the cost of inventory

P and how it should be measured at period end.
e. Events after Identify if an event is adjusting or non-adjusting

the period P and its accounting treatment.
3. Financial a-d. Statement of Prepare extracts from the primary

reporting financial position, financial statements for an individual
standards statement of profit entity in accordance with IFRS including
to prepare or loss and other the statement of financial position, the
basic financial comprehensive statement of profit or loss and other
income, statement P
statements comprehensive income, the statement
of changes
of changes in equity and the statement
in equity and
of cash flows (indirect method).
statement of
cash flows
41
F1C: Principles of Taxation Skill level F1C: Principles of Taxation Skill level
(cont.)
outcome and Lead outcome Component Remembering Application Analysis Evaluation
understanding Representative task statement outcome and
1. Different a. Direct Understand direct and indirect taxation,
types of taxes versus indirect P taxable person, incidence and competent 3. Relevant a. Taxes Understand the concepts of corporate
jurisdiction. issues that across residence and the key bases of determining
affect taxation international residence, the types of overseas operations
Understand different types of taxation (e.g., borders (subsidiary or branch and the implications
P progressive, proportional and regressive). P of each on taxation), issue of double taxation
and the methods of gaining relief, types of
Understand different types of direct taxation foreign taxation and the distinction
P in the context of an incorporated entity (e.g., between withholding tax and underlying
tax on trading income and capital taxes. tax (calculation will not be tested).
Understand different types of indirect b. Ethics of Understand the ethical impact of transfer
taxation in the context of an incorporated taxation P pricing on corporate taxation.
P entity (e.g., unit taxes, ad valorem taxes,
excise duties, property and wealth taxes, Understand the distinction between tax
consumption taxes and sales taxes). evasion and tax avoidance and the ethical
P considerations faced by an entity in respect
b. Corporate Understand the impact of employee of tax avoidance.
versus personal P taxation.
2. Tax for a. Basis of Understand the sources of taxation rules

corporates taxation such as domestic legislation, court rulings,
P domestic interpretations and guidelines,
international guidelines and taxation
agreements between different countries.
Understand the powers of taxation

authorities and the administration of
P taxation including the principles of record
keeping, deadlines and penalties.
b. Accounting Understand the distinction between

profit and P accounting profit and taxable profit.
taxable profit
Identification and treatment of exempt

P income or income taxed under different rules.
Identification and treatment of allowable

P and disallowable expenditure.
Understand replacement of accounting

P depreciation with tax depreciation.
P Determine capital allowances.
P Calculate tax depreciation allowances.
P Understand the concept of rollover relief.
Understand the methods of relieving

P capital losses.
P Understand reliefs for trading losses.
P Calculate capital tax on the sale of an asset.
c. Calculate Calculate corporate income tax liability.

corporate tax P

Examination approach
F1D: Cash and Working Capital Skill level Structure and format Item types
Lead outcome Component Remembering Application Analysis Evaluation Each Objective Test is 90 minutes long. A 15-minute The following objective test items may be used:
outcome and tutorial is available before the start of the examination
w Multiple choice
to allow candidates to familiarise themselves with the
1. Types and a. Types of Understand the types of short-term test driver. w Multiple response
sources of short term finance methods including trade payables,
P Each Objective Test comprises 60 questions drawn w Hot spot
short term finance overdrafts, short-term loans and debt
finance factoring. from across the individual subjects of the syllabus in
w Fill in the blank (number entry)
line with the weightings for each content area as set
b. Financial Understand the types of financial w Drag and drop
out in the blueprint.
institutions P institutions that can provide the sources
of short-term finance. All questions are independent and worth equal marks. Reference materials
2. Operating a. Operating Calculate trade receivable, trade payable and Partial marks are not available – all elements of a
and cash cycles cycle P inventory days. question must be answered correctly for it to be Mathematical tables and formulae will be included for
marked correct. Candidates may answer questions in reference in each Objective Test as follows:
b. Cash flow Calculate trade receivables, trade payables
cycle and inventory days and compare to prior any order and can navigate back and forth to any
P periods, competitors, or the industry as a question to change their answer, time permitting.
whole.
3. Different a. Policies Determine the working capital cycle and E1 None

techniques relating to the financial impact of changing working P1 Present value table, cumulative present value table, normal distribution table and the following formulae:
used to elements of P capital policies.
w PV
manage operating and
working capital cash cycle w CPV
Determine the approaches to manage the w Probability
P total level of investment in working capital - Rules of addition
(aggressive, moderate and conservative).
- Rules of multiplication
Apply methods of trade receivables w Descriptive statistics
P management, including credit control
- Arithmetic Mean
procedures and debt factoring.
- Standard deviation
Apply methods of trade payables
management and significance of trade
w Index numbers
P payables as a source of finance and how - Price
this affects the relationships with suppliers. - Quantity
Apply methods of inventory management w Time series
P (e.g., JIT), including calculations of the - Additive model
economic order quantity (EOQ)
- Multiplicative model
P Understand the risk of overtrading. w Financial mathematics
b. Forecasts Prepare short-term cash flow forecasts
- Compound interest (values and sums)
P and identify any surpluses or deficits. - Annuity
Determine the types of cash investment
- Perpetuity
including interest-bearing deposits, w Quadratic equations
P short-term treasury bills and other w Linear regression and correlation
securities.
F1 None
Understand the principles of investing in
P the short-term including maturity, return,
security and liquidity.
Examples of how the tables and formulae will be A whiteboard is available for planning and workings
c. Risks relating Determine the risks and opportunities presented will be available here. along with an on-screen scratch pad.
to working P related to working capital management.
capital A calculator is included within the test driver although
learners are permitted to take their own calculators into
the test centre provided it’s a CIMA approved model.

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
CIMA will confirm the final grade on MyCIMA within 48 VUE assessment centres worldwide or online from knowledge and skills and the drawing together of these to provide solutions to
hours of taking the assessment. For more information your home or office. Candidates can book their tests unstructured problems.
on how to interpret your results and feedback, up to 48 hours prior to the testing date, subject to
It takes place at the end of a period of study and serves as a culminating assessment
guidance will be given in MyCIMA. availability.
experience. By its position and design it is a synoptic assessment.
Feedback on performance in each content area A provisional grade (pass/fail) will be given on
of the examination will be given in the form of a completion of the test. The final grade will be Case study A (fictional) realistic simulation of an organisation or problem that a candidate could
proficient/not proficient rating. There is no requirement confirmed on MyCIMA within 48 hours of taking reasonably expect to face if operating in the role being assessed.
to achieve a grade of proficient in all content areas. the assessment.
Simulation An assessment exercise that involves the achievement of a specific task or tasks which seek
For more information on the operational and to reproduce real life situations.
administrative aspects of the examination please refer
to cimaglobal.com. 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 has
(Case Study) 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
50
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 From F1
eporting
IAS 10 Events after the Describes the definition of events after the From F1
reporting date reporting period and explains how they are
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 IAS 36 BA3 and F2
revaluation of such assets. of intangible assets.
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
Policy regarding examinable dates for IAS/IFRS
entity in preparation for consolidation. for the 2019 professional qualification
IAS 23 Borrowing costs Not examinable
The assessments will be set in accordance with relevant For Case Study Examinations, where individual standards
IAS 24 Related party disclosure Explains the disclosure requirements that draw From F2 International Accounting Standards and International will not normally be directly assessed and where marking
attention to the possibility that the statements Financial Reporting Standards. This also applies to the can accommodate a variety of approaches, candidates
of financial position and profit or loss may material relating to Financial Reporting Exposure Drafts. may refer to new standards before the effective date
be affected by transactions and outstanding where early adoption is permitted.
balances with parties related to the entity.
As a general rule, CIMA will examine such standards
IAS 26 Accounting and reporting Not examinable from the effective date (or as close as is practical). This
by Retirement Benefit Plans will normally be the date that a new examination blueprint
IAS 27 Separate financial Outlines the accounting and disclosure IFRS 3, From F2 becomes effective. Details of specific standards that are
statements requirements for investments in subsidiaries, IFRS 10, examinable for the period covered by the examination
joint ventures and associates when an entity IFRS 11, blueprint will be stated in the objective test section of
prepares separate financial statements. IAS 28
the blueprint.
53 Operational
Strategic level examination blueprint 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 © 2019 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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Operational level

Objective tests from January 2023 to January 2024

1 Operational 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 Operational level examination blueprint 6

7 Operational level examination blueprint 8

Practical experience / lifelong learning

BA1 BA2 BA3

BA4 Fundamentals of Ethics,

9 Operational level examination blueprint 10

Skill level Verbs used Definition

Level 4 Analysis Align Arrange in an orderly way

11 Operational level examination blueprint 12

Operational level examination blueprint 14

15 Operational level examination blueprint 16

17 Operational level examination blueprint 18

19 Operational level examination blueprint 20

21 Operational level examination blueprint 22

23 Strategic level examination blueprint 23 Operational level examination blueprint 24

c. Narrates Understand the purpose and principles of

b. Provides Understand the types of analyses used to

c. Understand how finance communicates

d. Supports the Understand how finance supports the

e. Connects Understand how finance connects the

25 Operational level examination blueprint 26

d. Data Understand the finance function’s role in

27 Operational level examination blueprint 28

c. Key Understand how the finance function

29 Operational level examination blueprint 30

3. The finance a. Main role Understand the HR activities associated

Understand the ways of organising and

Understand the costs and benefits of

b-c. Areas Understand how the finance function

31 Operational level examination blueprint 32

Understand the difference between Calculate subdivision of the fixed overhead

e. Digital Determine the potential differences and

33 Operational level examination blueprint 34

c. What-if Prepare “what-if” analyses based on

35 Operational level examination blueprint 36

b. The Understand whether a cost/revenue/cash

37 Operational level examination blueprint 38

1. Basic risk a. Nature Understand the types of risk and

Use decision trees for multi-stage

Apply decision models to deal with

39 Operational level examination blueprint 40

d. Inventory Identify the components of the cost of inventory

e. Events after Identify if an event is adjusting or non-adjusting

3. Financial a-d. Statement of Prepare extracts from the primary

2. Tax for a. Basis of Understand the sources of taxation rules

Understand the powers of taxation

b. Accounting Understand the distinction between

Identification and treatment of exempt

Identification and treatment of allowable

Understand replacement of accounting

P Determine capital allowances.

P Calculate tax depreciation allowances.

P Understand the concept of rollover relief.

Understand the methods of relieving

P Understand reliefs for trading losses.

P Calculate capital tax on the sale of an asset.

c. Calculate Calculate corporate income tax liability.

43 Operational level examination blueprint 44