With the fast changing dimensions and requirements of the dynamic business environment, the needs of the business have also changed, thus effectively changing the needs of the employers. It is not only a challenge for the businesses to evolve with the growing market, but also for them to employ such people in their organization who help them achieve the set goals.
To stay aligned with these requirements of the employers, Chartered Institute of Management Accountants, the largest body of management accountants (CIMA) across the world, changes various aspects of the qualification every 5 years.
In this regards, the recent changes made by CIMA, are a paradigm shift. While there has been no major change in the syllabus, the testing methodology has changed drastically. So what are the big changes?
The three papers related to Enterprise, Performance and Financial pillars at each level will now be examined by computer based objective assessment. These exams will be available on demand throughout the year.
All the three levels, i.e. Operational, Management and the Strategic will now have a computer based Integrated Case Study (ICS) exam, instead of a single case study exam (T4) in the previous syllabus.
Objective assessment: The focus of the objective assessment is to test the subject knowledge of the students, covering a wide variety of topics. The institute plans to assess 100% of the subject areas through this pattern, increasing from current 40-50%. Further, the emphasis will be on small application based questions on each topic, testing the conceptual clarity of the students. What CIMA is looking for is a professional who has complete knowledge of the subject and can also apply them.
Salient Features :-
Computer based assessment
Available on demand
90 minutes long, with minimum 70% passing
Results available immediately
Detailed analysis provided within 48 hours
Within the level, Objective Tests can be taken in any order
Can be taken at Pearson Vue Centres globally
Case Study based questions
The Integrated case study exams at each level will test application, analysis and evaluation. It will take the application of knowledge to the next level, by replicating real work-like scenarios, created in a simulated business environment. Case study combines knowledge across the three pillars at each level and requires the candidate to demonstrate the appropriate skills expected from a candidate at that level. CIMA is looking at developing four key competencies among its students and members, Technical skills, Leadership skills, Business skills and People skills. The case study exam gives different weightages to these skills at each level of qualification.
Four sittings per year (February, May, August and November)
Provided with the case (Pre-seen Material ), six weeks in advance
3 Hours duration Computer based
Results available after 5 weeks of the exam
Detailed feedback provided
Need to score 80 and above out of 150
Minimum threshold of all the key skills
Through these changes the institute wants to create a qualification which gives the right blend of skills and knowledge to the students, so that they can be on the job from day one, thus increasing employability.
-This article is written by Shivani Ahuja (Commerce student, Finance & Accounts Enthusiast & A Future Writer )who has recently cleared CIMA gateway exam.