Chartered Institute of Management Accountants

11 July 2006

CIMA (the Chartered Institute of Management Accountants) today, 10 July 2006, announces that the Life Long Learning Policy Committee of CIMA Council has approved two changes to the Managerial Level of the Professional Chartered Management Accounting qualification. The changes will come into effect from the May 2007 examination diet.

Firstly, three papers (Paper P1 Management Accounting Performance Evaluation, Paper P4 Organisational Management and Information Systems and Paper P7 Financial Accounting and Tax Principles) will have new section weightings:

• Section A – 40 marks (currently 50 marks)
• Section C – 30 marks (currently 20 marks)
• Section B remains unchanged at 30 marks.

The second change relates to Section C of Paper P7 Financial Accounting and Tax Principles only. From May 2007, this section will contain one compulsory question covering the preparation of at least two of the three key financial reporting statements – the income statement, the balance sheet and the cash flow statement. The assessment format for sections A and B remains unchanged.

Paul Weymouth, Head of Product Development and Learning Support, commenting on these assessment changes, said:

“CIMA is continually evaluating all parts of its premier accounting qualification for business and these changes reflect feedback from examiners and key stakeholders.”

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For media enquiries only, please contact:

Steven Hilton,
Press Officer, CIMA
+44 (0) 20 8849 2427
steven.hilton@cimaglobal.com

Notes to editors

1. CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business.  It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business, in both the private and public sectors. CIMA is the voice of over 155,000 members and students in 158 countries and is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body.  CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually to reflect the latest developments in global business.  It is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.  For more information about CIMA, please visit http://www.cimaglobal.com/

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