The Test of Professional Competence in Management Accounting comprises two component parts that must both be achieved in order to complete the test. Credits are used to ensure success, rather than marks. To pass the Test of Professional Competence in Management Accounting, students must achieve an aggregated minimum of 75 credits – comprising a minimum of 50 credits for Part A (maximum 50 credits) and a minimum of 25 credits for Part B (maximum 50 credits). Students are advised to undertake Part A and Part B concurrently, although either can be taken in any order once all strategic level examinations have been completed. The overall result for the Test of Professional Competence in Management Accounting can only be given when both component parts have been completed. T4 Part A – Initial professional development – Work based practical experience Overview Students must gain a minimum of three years’ relevant work based practical experience. Experience may be drawn from any of the following three areas, but a minimum of 18 months must be gained within the ‘Core’ area.
Area 1 – Basic experience 1a. Preparing and maintaining accounting records
Area 2 – Core experience 2a. Preparation of management accounts
Area 3 – Supplementary experience 3a. Financial strategy 3b. Corporate finance 3c. Treasury management 3d. Taxation 3e. Business evaluation and appraisal 3f. Business strategy 3g. External relationships
1b. Statutory and regulatory reporting 2b. Planning, budgeting and forecasting 1c. IT desktop skills 1d. Systems and procedure development 2c. Management reporting for decision making 2d. Product and service costing 2e. Information management 2f. Project appraisal 2g. Project management 2h. Working capital control 2i. Risk management and business assurance
Note: Some or all of the required experience may have been gained before registering as a CIMA student. Practical experience must be recorded by students within a Career Profile and submitted to CIMA for assessment. An approved Career Profile is awarded 50 credits – the amount needed to meet the requirements for Part A of the Test of Professional Competence in Management Accounting.
Full details of the practical experience requirements and how to complete the CIMA Career Profile can be found on the CIMA website and within a separate publication entitled ‘Practical Experience Requirements’. Employers and their students are advised to refer to these documents.
T4 Part B – Case Study Examination Overview The examination is based upon a case study that is set within a simulated business context relating to one or more fictitious organisations. However, the context described in the case material is based on a real business or industry. The examination comprises a three hour assessment of competence, completed within a supervised examination environment. It provides an integrated test of syllabus content that is mainly included within the three strategic level papers – E3, F3 and P3. However, it will also draw upon content covered within the management and operational level papers. The Case Study Examination therefore has no specific syllabus content of its own. The Case Study Examination primarily involves the application of strategic management accounting techniques to analyse, recommend and support decisions. Students will be required to deal with material in a less structured situation than those encountered in previous strategic level papers, and to integrate a variety of skills to arrive at a recommended solution. It is unlikely that there will be a single right answer to such a complex business problem, and students will be expected to recognise the possible alternatives in dealing with a problem. The emphasis will be on assessing the student’s capabilities and competence in the application of appropriate, relevant knowledge, the ability to demonstrate the higher level skills of synthesis, analysis and evaluation,...
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