Congratulations! You are here because you have cleared the first two levels of the CIMA course. All that is standing between you and your future as a management accountant is the CIMA Strategic level exams. This is your final hurdle. You want to give it your best. Everything you have been working for depends on this moment.
The CIMA course offers a highly prestigious certification globally renowned in over 180 countries. Students undergo a rigorous training program with a strong curriculum that covers business concepts, management skills and accounting theory. So many doors open up when you are a CIMA-qualified professional. On completion, every certificate holder is qualified to work in various professions such as financial analysis, risk management, financial reporting, corporate finance and treasury management.
It can be intimidating and stressful when your potential career is riding on this last exam. Many students tend to worry about CIMA Strategic level case study in particular. However, it is not really that difficult to clear. You can pass the test with flying colours and get started on your professional journey. All you need is to put in hard work, stay committed and follow the tips below to help you easily clear the CIMA Strategic level papers.
About The CIMA Strategic Level Case Study
- The case study is a practical application of the skills and knowledge you have acquired during the course
- The paper is three hours long and consists of time-based tasks or projects
- The CIMA Strategic level case study contains a simulation where you play the role of a senior finance manager or a similar upper-level position
- You have to showcase your strengths and abilities to take on fictional tasks within the company
A Step-by-step Guide To The CIMA Strategic Level Case Study Paper
The case study has two sections. The pre-seen information is available before the exam and the unseen material is given during the paper. Here’s how you can prepare for both.
- Study the pre-seen material as soon as it is released
You can find the pre-seen material on the official website six weeks before the exam window for the CIMA Strategic level opens. The docket will contain all the information including the background of the company, the market positions, details about the competition and other necessary factors. It is best to make a hard copy and highlight the important facts and figures so you can prepare for the exam. Read through the material several times and familiarise yourself so you remember the important points.
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- Learn more about the company
If you are going to play the role of a senior manager or finance director, you should know the company inside out. You will be responsible for creating and executing strategic plans. So study the company details carefully. Is it a private, publicly listed or not-for-profit organization? Does the firm have access to funds? What are the regulatory compliances? Are there any risks to consider? Policies in place? The knowledge will go a long way in helping you get ready for the CIMA Strategic level exams.
Also, you will be required to discuss the current market situation or political scenarios in the case study. Work out a PESTLE or SWOT analysis to help you get ready with the information you need.
- Get familiar with the business model
As senior management, you must know the fictional company’s mission and vision statement. It sets up the way the parameters within which the organization operates. What is the nature of the business?
Who are the customers?
What is the business strategy? Also, remember to research the industry. Is it in finance, pharmaceuticals or consumer goods? Who are the competitors? What is the price placement? Key risks? Industry size? These are some noteworthy points to consider when studying for the CIMA Strategic level papers.
- Who are the board members?
You should be well informed about the qualifications and experience of each board member. Is the board created as per the governance guidelines? For this, you will have to refer to the policies in the P3 and E3 subjects. Pay special attention to independent directors of the company. Also, ensure you understand the difference of duties between the Chairman and the CEO as this information could be relevant when you take the CIMA Strategic level papers.
- The financial state of the company
As it is a vital part of the CIMA Strategic level exams, be attentive when studying the company finances. You will receive the financial statement along with a couple of years’ work of historical data. Go through the entire document with an eagle eye. Pay close attention to information about sales trends, payables, receivables, profits and debt. Calculate specific financial ratios in advance, so you can quote them easily when giving the CIMA Strategic level papers.
- The post-seen part of the CIMA Strategic level case study:
Once you have adequately and confidently prepared the pre-seen material, you are ready for the written paper. The post-seen section of the CIMA Strategic level exams will create specific scenarios that will test how proficiently you can handle the pre-seen information. Past exams have focused on the following points:
- Based on the project mentioned in the exam paper, is the company capable of achieving its goals?
- What are the possible risks to keep in mind?
- When facing a cash deficit or crunch, how can you work around it?
- How will you manage the working capital?
- If there is a change in management, what will be the challenges?
- What about the company policies?
You need to wrap your head around all the possible situations the company might face. What appears on the unseen portion of the exam may be out of your control, but how well you know your pre-seen material is up to you. If you remember and understand the vital features of the company, you will sail through your CIMA Strategic level exams with flying colours.
Benefits Of Being A CIMA-Certified Accountant:
- Your qualification is recognized internationally by all the leading MNCs, financial corporations and banks
- You receive an in-depth and top-quality education that is on par with global standards
- You develop a high caliber of skills and techniques that make you an outstanding hire
- The job market is brimming with ripe opportunities for CIMA holders
- Salary packages are also higher for professionals who have cleared the CIMA Strategic level
Proschool’s GMA program
Did you know that IMS Proschool has a CIMA platinum award in India? Along with an exceptional passing rate of 80 percent for the course? These are just a few reasons many students team up with Proschool to clear the CIMA Strategic level exams. The academy offers the highly acclaimed global management accountant (GMA) program to undergraduates and graduates to help them develop strong management skills and accounting techniques.
With some of the finest and most experienced teachers, the GMA course is the perfect tool that enables budding accountants to clear the CIMA Strategic level case study.
- The faculty is made up of industry experts who have completed the CIMA Strategic level and now working in the field
- They use innovative active learning methods to help students grasp the subject matter
- The coaching enables you to fully understand the requirements of the CIMA Strategic level case study
- Proschool offers coaching centres across India as well as online classes
- Staff members assist students with learning valuable recruitment tools such as resume writing and interview etiquette
- The school also has a very good placement program to help you get recruited after clearing the CIMA Strategic level exams
- You can earn two certifications — GMA and NSDC — on course completion
The CIMA Strategic level case study may be a challenging exam to clear. But with the right amount of preparation, hard work and savviness, you can become a professional management accountant. To do well on the exam, ensure you showcase your abilities and prowess by applying textbook knowledge to the case study. Put on your thinking cap, present your work efficiently, and you will sail through the paper quite easily. Good luck!