The CIMA Thread

Meursault

boo-yaw-ka-shaa wrote: »

Hey all, I'm thinking of going the CIMA route and will be starting from scratch so doing the 5 fundamentals for the cert first. Am based in Cork and just wondering are all the computer based exams centres in Dublin or are there some outside the Pale???

also what are people's views overall with the CIMA qualification?? Mostly positive?? it seems to be looked on very favourably by employers these days.

Hi, I have followed up with the CIMA contact for Ireland on your question regarding exam locations. I'll let you know as soon as I hear back from them

the best of luck with whatever route you choose. there are pros and cons to all the different accounting qualifications, but if you are planning on working in Industry (rather than private practice) then it seems CIMA or ACCA is the way to go. Just to let you know, the percentage at which you pass the CIMA professional exams is going up from Jan when the new syllabus comes in to effect. from my understanding, to pass you will need to get 70%. here is some info from CIMA:

http://www.cimaglobal.com/Students/Exam-resources-and-information/What-does-it-mean-for-me/

Gomer Pyle

The pass mark for objective tests is 70%. For the it integrated case study exams it is 60%.

Achilles24

Hi all,
I have recently decided to do the CIMA qualification. I am working full time but have a degree in Retail and services management where I did financial subjects over the 4 years in DIT Mountjoy square. Will I be able to qualify for the professional course do you think?
Thanks in advance

Irish Aris

Achilles24 wrote: »

Hi all,
I have recently decided to do the CIMA qualification. I am working full time but have a degree in Retail and services management where I did financial subjects over the 4 years in DIT Mountjoy square. Will I be able to qualify for the professional course do you think?
Thanks in advance

Hi Achilles24,

The degree you have might give you some exemptions - not sure how many, but you can check that with CIMA directly.
If you are not entitled to exemptions, you'll have to start from the certificate level. That's not necessarily a bad thing (bar the money that it will cost you), as it will give you a starting boost for when you proceed to the professional qualification.

I'd suggest you start by what exemptions CIMA would give you for your degree.

Achilles24

Irish Aris wrote: »

Hi Achilles24,

The degree you have might give you some exemptions - not sure how many, but you can check that with CIMA directly.
If you are not entitled to exemptions, you'll have to start from the certificate level. That's not necessarily a bad thing (bar the money that it will cost you), as it will give you a starting boost for when you proceed to the professional qualification.

I'd suggest you start by what exemptions CIMA would give you for your degree.

Thanks for the reply.
How long does it take to complete the certificate level in general?

Irish Aris

Achilles24 wrote: »

Thanks for the reply.
How long does it take to complete the certificate level in general?

it depends on how much time you'll have for studying.
It took me 6 months for the 5 papers. I have heard people that finished it quicker than that, I reckon though that a paper a month is a decent enough pace to grasp the basic concepts of each paper.

Achilles24

Irish Aris wrote: »

it depends on how much time you'll have for studying.
It took me 6 months for the 5 papers. I have heard people that finished it quicker than that, I reckon though that a paper a month is a decent enough pace to grasp the basic concepts of each paper.

Thanks Irish Aris, that isn't bad at all... I don't mind that. Thought it might take a year plus so that's good news. I've applied for my transcripts from the college so I'll forward them to CIMA and see what happens!

Irish Aris

Achilles24 wrote: »

Thanks Irish Aris, that isn't bad at all... I don't mind that. Thought it might take a year plus so that's good news. I've applied for my transcripts from the college so I'll forward them to CIMA and see what happens!

Good luck with your studying!!
It's not an easy qualification, but it is a very interesting one!!

Achilles24

Irish Aris wrote: »

Good luck with your studying!!
It's not an easy qualification, but it is a very interesting one!!

One last question, once you've completed the operational and management level, do you achieve a diploma? Once you complete the strategic level an advanced diploma and then obviously full qualification after top CIMA?

Irish Aris

Achilles24 wrote: »

One last question, once you've completed the operational and management level, do you achieve a diploma? Once you complete the strategic level an advanced diploma and then obviously full qualification after top CIMA?

With the changes in the syllabus from next year, the old T4 case study doesn't exist anymore.
Instead you will have a case study at each of the 3 levels of the qualification.
I believe that you achieve a diploma in each of the 3 levels-I am still at the operational level so haven't seen any yet, but I believe that you get the first diploma after the operational level, the advanced after the management level and the full qualification after the strategic level (and after submitting your practical experience).

Hope this helps.
There is a section in the cimaglobal.com website regarding the new syllabus, you might find it quite useful for info.

Achilles24

Irish Aris wrote: »

With the changes in the syllabus from next year, the old T4 case study doesn't exist anymore.
Instead you will have a case study at each of the 3 levels of the qualification.
I believe that you achieve a diploma in each of the 3 levels-I am still at the operational level so haven't seen any yet, but I believe that you get the first diploma after the operational level, the advanced after the management level and the full qualification after the strategic level (and after submitting your practical experience).

Hope this helps.
There is a section in the cimaglobal.com website regarding the new syllabus, you might find it quite useful for info.

Thanks for all of the information Irish Aris. I will have a look. Best of luck in your studies...

newbie13

just started college for BB (Honours) in Accounting YR 1,

Irish Aris

Good luck to everyone sitting exams the next 3 days.
Hope we can all have great results!!

whatawaster

Hi all CIMA folk!

Just wondering if you think there is any value in a qualified ACA adding a CIMA qualification.

I trained and have worked in audit for 8 years, but (finally) moving to a role in industry (manufacturing) in the new year. I'd consider myself very strong on the financial accounting side of things, but my only experience of cost accounting/management/strategy are from my college exams (8-10 years ago) and my ACA exams (6-7 years ago). It's all very rusty.

So my reasoning for going for the qualification would definitely be more to do with increasing my knowledge of managerial accounting rather than improving my CV. I'd hope to stay in this new job for many years. Would I be as well to just buy a book or two and do some homestudying, or should I go for the qualification. From what I've been reading, if I pass a gateway exam I only have to do the final set of CIMA exams.

Would my years in audit count as the necessary practical experience?

Thanks for your help in advance.

sallymomo

Irish Aris wrote: »

Good luck to everyone sitting exams the next 3 days.
Hope we can all have great results!!

Hey Aris,
What did you think of P1 & F1?

Irish Aris

sallymomo wrote: »

Hey Aris,
What did you think of P1 & F1?

I found P1 a bit difficult especially sections A & B.
there were things that were rather unexpected - not necessarily difficult but very rarely examined.
And completely thrown away by the 11 marks on replacement cycles. I don't think the theory has ever been examined.

F1 had less surprises and most of the items were in my (and I guess most students) radar.
Just a couple of tricky items in the big questions (the held for sale and discontinued in the published accounts and the share issue in the consolidations), but I thought sections A & B offered many marks.

Having said that, I believe that I have done better in P1 than F1 - mainly because I expect very good marks in the variances and investment appraisal. I am quite confident that I have passed both of them.

How did you do, sallymomo?

my username

Hi all,

Another question from someone with a non finance background. I've been working for 5 years and have a non finance degree. Ideally my goal is working towards being a financial analyst in the industry I currently work in. Is CIMA a good idea for this? If I get the cert, how likely is it that I can get some kind of junior accounting/analysis role in order to get the experience for the full qualification?

Thanks

Meursault

Did anyone sit the Strategy exams in November? How did you find them?

I thought P3 was fine, until i started reading some opinions on the CIMA website!

I found F3 very tricky. I really wanted to get that one out of the way before the course changes in January.

didnt even study for E3, so I probably deservedly fail that one.

Achilles24

Hi all, I'm currently doing the C05 in cima. I have exemptions in basic maths and economics. It's been 14 years since I finished college so was going to do them again. However I'm now thinking of using the exemptions so I can move to professional level quicker. Question is, will the content examined at professional level be done in the course of the classes I will attend for it or could I struggle by not having covered the 2 courses during cert level?
Thanks in advance

Irish Aris

Achilles24 wrote: »

Hi all, I'm currently doing the C05 in cima. I have exemptions in basic maths and economics. It's been 14 years since I finished college so was going to do them again. However I'm now thinking of using the exemptions so I can move to professional level quicker. Question is, will the content examined at professional level be done in the course of the classes I will attend for it or could I struggle by not having covered the 2 courses during cert level?
Thanks in advance

Hello Achilles,
If you do classes (with a tuition provider I assume), most likely you will be fine. I will admit that I found doing the Certificate level quite useful, but most tuition provider are exam oriented, so they cover what usually comes up in the exams. Bear in mind that this was the way with the old syllabus. Not sure how the new way of examinations will affect this.

I was at a conference at CIMA offices on Saturday where they presented some more details on how the new Syllabus and exams will look like. I have to say I am not fully convinced. The exams could potentially become very hard to pass. Which is not necessarily a bad thing, but there are a couple of elements that I'd consider them a bit punishing towards the students.

I'd say the first couple of months might turn into a nightmare. Myself I'm not planning on sitting any exams until April.

PCX

Irish Aris wrote: »

I was at a conference at CIMA offices on Saturday where they presented some more details on how the new Syllabus and exams will look like. I have to say I am not fully convinced. The exams could potentially become very hard to pass. Which is not necessarily a bad thing, but there are a couple of elements that I'd consider them a bit punishing towards the students.

Can i ask why you think they'll be harder to pass and what are the elements you consider might be punishing?

I haven't really read up on the new format too much. I know its going to be computer based and there are extra operational and management level case study exams.

Irish Aris

PCX wrote: »

Can i ask why you think they'll be harder to pass and what are the elements you consider might be punishing?

I haven't really read up on the new format too much. I know its going to be computer based and there are extra operational and management level case study exams.

They presented yesterday the format of the new computer based exam.
For the 9 papers, the simple multiple choice format will be a very small part of the exam. They presented something like 7 or 8 different types of questions.
The ones I find rather punishing are:
1.Questions that you will have to pick 3 correct answers out of a list of 7/8. If you pick all 3 correct you will get the marks, if you pick 2 correct (and the 3rd wrong), you get nothing.
2.Similarly with the questions that will include drag and drop, it will be a number of options and you would have to give all correct answers. There are no half marks if you answer part correctly.
3.There was another example that they admitted it will be abandoned (as being over the top): a short text (2 paragraphs) with 8 blanks where you would have to pick the correct answers (1 out of 3 in each blank) from a drop down menu. You need to answer all 8 correct, 7 correct answers out 8 means 0 (zero) points.

For the case studies, the only (but quite significant) disadvantage is that you are not allowed to manage your own time.
The time allocated for each part of the case study will be pre-determined. Once that time finishes the exam will automatically move to the next part and you will not have the option to go back and rework any sections. If you finish a section earlier than the allocated time, this time is lost, you don't get to use it in the next sections of the exam.

Bear in mind that the pass marks will now be 70 for the papers and 60 for the case studies, so the students will be allowed very little room for mistakes.

Like I said, It could potentially be harder. I expect that what happened when they introduced the 2010 syllabus (the first sitting in May 2010 was a disaster in many papers as the transition didn't work well) may happen here, and some fine-tuning from CIMA's side will be required.

It's also possible that I am overreacting and it will all go well, but I can't help feeling that they remove the middle ground that we currently had. It's becoming more black and white now.

PCX

Thanks for that reply Irish Aris.

Most of the exams will be easier to resit I suppose as you won't have to wait the 3 or 6 months until the next sitting.

One worry I would have is that they would make the exams harder in the hopes that more resits would earn them more revenue per student. If the pass rate lowers it will end up costing the average student a lot more money to get the CIMA qualification given that there are two new exams to pay for as well.

It'll be interesting to see if they publish the pass rates for all of the exams next year.

Meursault

did anyone get their results this morning? judging by twitter and from speaking to some guys in my class, there is a lot of trouble accessing the results. they were supposed to be emailed through at 9am and their website keeps crashing. anyway, best of luck to all today.

averagejoe123

I havent got the email yet but after some time I was able to get them through myCIMA.....passed the last strategic one in time for Christmas!

Rusty Rothar

Meursault wrote: »

did anyone get their results this morning? judging by twitter and from speaking to some guys in my class, there is a lot of trouble accessing the results. they were supposed to be emailed through at 9am and their website keeps crashing. anyway, best of luck to all today.

just got mine on the CIMA Global website, been trying all morning to get it and it was just freezing on me but finally got through now. still no e-mail but at least I got them. best of luck, hope your not waiting much longer

sallymomo

Well that was a nightmare this morning..still haven't received the email but I eventually got in..

Aris, as I suspected, passed F1 and failed P1 - case study for me so.

Best of luck to everyone else!

Irish Aris

sallymomo wrote: »

Well that was a nightmare this morning..still haven't received the email but I eventually got in..

Aris, as I suspected, passed F1 and failed P1 - case study for me so.

Best of luck to everyone else!

It was slow alright. I couldn't get in the website at all so I patiently waited for the email which came around noon.

Fair play to you, could have been better, but at least your moving in the right direction.

I passed both and with surprisingly high marks - especially for F1 I didn't expect it at all!!

Good luck everybody!! Hope you get good results and enjoy the holidays!!!

kilburn

Have you seen the waiver option for operational level ?

If you have 2 of the 3 exams passed you can go straight on to the case study if you pay the waiver fee

Meursault

Hi all,

has anyone studied with BPP through their Live Online classes? If so, how did you find them?

I was thinking of enrolling on their E3 course starting in Feb. I have studied with Kaplan live online and i found them very useful, but their evening courses dont start for a while

anyway, any advice on BPP would be great, thanks