CIMA Professional - Strategic Level Package (e3, p3, f3)
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Develop the skills required to make informed business strategy decisions by completing the CIMA Strategic Level course. Picking up where the Management Level course finished, the Strategic Level course takes students through several disciplines and techniques that will help develop the skills required to make medium-term strategic decisions, and finally completed their journey to CIMA Professional status.
The CIMA Professional qualification comprises three pillars of domain knowledge divided into three levels of achievement, of which Strategic is the third. This qualification helps finance professionals develop decision-making and management skills, build expertise in technical accounting and define long-term business strategy based on sound financial principles and international accounting standards.
The CIMA Management Level course is best suited to:
Senior finance professionals who want to improve their understanding of long-term management accounting principles. Experienced finance professionals who want to earn a globally-recognised management accounting qualification and help define their business strategy. Finance professionals who need to achieve the CIMA Professional qualification and who have already completed the CIMA Operational and Management qualifications. Individuals who would like to cross-train for a new career working in management finance. Using a blend of interactive simulations, instructor-led videos and other online courseware, the CIMA Management Level course is delivered online, so that contents can be accessed anyplace anytime, as is convenient for the student. Participants can test their knowledge and understanding of each module and concept using a series of flash cards; end of unit tests provide further proof of the learner’s comprehension.
Students taking the CIMA Strategic Level course can use the social networking platform to ask for assistance from their peers or to share their own knowledge and experience to help other learners. Upon completion of the course students will not only have mastered the CIMA Strategic Level training, but they will also be fully prepared to sit the Strategic Level exam and earn their CIMA Professional designation.
Key Learning Points
The CIMA Strategic Level course is divided into three sections, each with a separate focus to ensure that students get a balanced understanding of advanced-level management accounting. Using materials approved by the Chartered Institute of Management Accountants, learners will study:
E3 – Strategic Management
Students will learn how to formulate and implement long-term strategy, creating the vision for long-term, sustainable success. This involves:
- Defining the corporate mission, objectives and stakeholders, and performing a Position Audit and Corporate Appraisal.
- Including Corporate Governance, Corporate Social Responsibility and Ethics into the business strategy.
- Implementing Change Management processes, and using Strategic Performance Measurement to assess success.
P3 – Risk Management
Students will learn how to identify and mitigate risks that place the long-term strategy in jeopardy, using proven techniques, processes and internal control systems to inform cash flow and capital investment decisions:
- Implementing management control systems to better utilise human resources, and to provide a framework against which to review.
- Auditing internal processes and computer systems.
- Managing financial risk including foreign exchange rate fluctuations and interest rate changes.
F3 – Financial Strategy
Finally delegates will look at aligning financial strategy with wider business goals, and developing the competencies required to value investment opportunities including the valuation of corporate entities for mergers, acquisitions and divestments:
- Planning, forecasting and hedge accounting to better manage corporate finances.
- Calculating the cost of capital and capital structures, and the capital asset pricing model (CAPM).
- Performing an accurate business valuation.
- Carrying out corporate reorganisation as part of a merger or consolidation.
- Properly discounting foreign cash flows.
Each module of the CIMA Strategic Level contains a number of sections – the listing above is a very brief overview of what students can expect to cover.
Advantages Of This Course
The CIMA Strategic Level qualification is the final step to achieving CIMA Professional status. By completing this course students will master the advanced principles of management accounting, providing them with the skills they need to begin making long-term strategic financial decisions.
Other benefits of completing this course include:
- Learning the skills required to implement strategic management processes.
- A good understanding of risk management to help keep business strategy on track.
- The skills required to take long term strategic financial decisions.
- Advanced reporting skills, allowing finance professionals to better understand corporate performance.
- Full preparation for the CIMA Strategic Level exam.
- A collection of highly sought-after skills that will help widen the student’s employment options.
The CIMA Strategic Level course the final mandatory step required to achieve CIMA Professional status and the benefits that that gold standard qualification attracts. Students will need to have first attained the CIMA Operational and Management Level qualifications before they can achieve CIMA Professional status.
Units of Study
E3 - Strategic Management
- Getting Started
- Strategic Formulation
- Mission, Objectives and Stakeholders
- Environmental Analysis
- The Position Audit and Corporate Appraisal
- Strategic options
- Information Strategy
- Corporate Governance, CSR and Ethics
- Change Management
- Strategic Performance Measurement
- Quantitative Skills for Strategic Evaluation
P3 - Risk Management
- Getting Started
- Management control systems
- Divisionalisation and controlling people
- Review and the audit process
- Sampling, evidence and substantive testing
- Internal controls for key cycles
- Corporate governance, ethics and internal audit
- What is information?
- Auditing computer systems
- Risk management
- Foreign exchange risk
- Interest rate risk
- Investment appraisal 1
- Investment appraisal 2
F3 - Financial Strategy
- Getting Started
- Introduction to financial strategy
- Analysing performance
- Planning, forecasting and hedge accounting
- Finance (equity, debt, leasing and swaps)
- Cost of capital & capital structures
- Dividend policies, EMH & treasury function
- Business valuation
- Corporate reorganisation
- Discounting foreign cash flows