01 August 2003
Reasonable to good results were achieved in the May 2003 examinations, in line with previous examination diets, but there is clear room for improvement in candidate performance, according to CIMA. A total of 34,833 candidates applied to sit for examinations (excluding CBA), with a total number of 65,016 papers sat.
On a positive note, Computer Based Assessment (CBA) is now fully operational within the UK and CIMA's success in developing this system is well recognised. The pass rates for these assessments are very satisfactory overall, though some improvement in Economics for Business is hoped for.
Also, there is evidence of improvements in Financial Accounting (IFNA/IFAI), International Financial Reporting Standards (IFRI) and Organisational Management. Pass rates are generally less favourable in ISPM and at Final level, compared with the last two diets.
Of particular concern, however, is candidate performance in IMPM and IDEC. Again, there is evidence from a review undertaken by CIMA that, as far as unsuccessful students are concerned, their knowledge appears to be 'compartmentalised', making it difficult to transfer from knowing to applying. This rather suggests that the basic framework for these subjects is not being mastered. Interpretation skills are also poor, generally.
As Robert Jelly, Director of Education at CIMA, said:
"CIMA is the qualification that supports 'being able to do'. Learning skills that are based on knowledge repetition are insufficient; skills that enable the re-framing and application of knowledge are skills for which CIMA qualification is well known. This is what sets CIMA students and members apart from other professionally qualified accountants."
Accolades are an important part of the results process. As on previous occasions, excellent performance will be rewarded. Of particular note are joint prizewinners from within the UK for Financial Reporting. At the Final level, and of particular note, are three joint first place female prizewinners, who have carried away the prize for top performance in the three strategy papers. The pass rates for the May 2003 exams are summarised as follows:
Foundation level UK/RoI% Overall%
Financial Accounting Fundamentals (FAFN) - CBA 83
Management Accounting Fundamentals (FMAF) - CBA 76
Economics for Business (FECB) - CBA 65
Business Law (FBLW) - CBA 76
Business Mathematics (FBSM) - CBA 77
Intermediate level UK/RoI% Overall%
Finance (IFIN) 54 47
Business Taxation (IBTX) 50 48
Financial Accounting - UK Standards (IFNA) 55 54
Financial Accounting - International Standards (IFAI) 55 44
Financial Reporting - UK Standards (IFRP) 52 52
Financial Reporting - International Standards (IFRI) 57 33
Management Accounting - Performance Management (IMPM) 45 43
Management Accounting - Decision Making (IDEC) 45 39
Systems & Project Management (ISPM) 52 47
Organisational Management (IORG) 57 52
Final level UK/RoI% Overall%
Management Accounting - Business Strategy (FLBS) 53 46
Management Accounting - Financial Strategy (FLFS) 54 44
Management Accounting - Information Strategy (FLIS) 54 46
Management Accounting - Case Study (FLCS) 56 51
If you would like more information please contact Lottie Muir
Phone: +44 (0)20 8849 2407
Email: lottie.muir@cimaglobal.com
