CIMA Professional Qualification (Strategic Level)

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The Strategic level focuses on key strategic issues and business practices. You must complete all of the Managerial level, either through exemptions or exams, before you can move onto the Strategic level. This level is made up of three subjects:

* Paper P3 Management Accounting Risk and Control Strategy
* Paper P6 Management Accounting Business Strategy
* Paper P9 Management Accounting Financial Strategy

In the P6 Management Accounting Business Strategy module students should be able to identify and evaluate approaches to strategic management and explain the place of the enterprise in the broader economic and social environment. In addition students will also be able to apply contemporary thinking on strategic management and identify and utilise appropriate tools for strategic analysis. The other benefit is that they will evaluate appropriate strategic options and make recommendations and evaluate the linkages between strategic planning and the implementation of those plans. Another skills it being able to design and recommend appropriate performance measurement systems.

In the P3 Management Accounting Risk & Control Strategy students should be able to evaluate and advise on management and internal control systems for a range of risks and plan a review process, including an internal audit, of such systems. In addition they will also be able to evaluate alternatives and advise on the management of financial risks and advise on the development of information systems that support the risk control environment.

In the P9 Management Accounting Financial Strategy students should be able to understand and apply contemporary thinking on strategic financial management and utilise appropriate tools for strategic financial management. Students will also evaluate strategic financial management options in light of the needs of management and the policy of the enterprise and characterise and describe the enterprise’s financial strategy and use that characterisation to develop optimal financial strategy for all stages of the life-cycle. Lastly, students will assess and evaluate proposed strategies.