Chartered Institute of Management Accountants (CIMA) Case Study Examinations (Integrative Competence) Syllabus

Case Study Examinations (Integrative Competence) syllabus — full chapter and topic list

Expand any chapter to see its topics and sub-topics. This is the whole examinable outline for Case Study Examinations (Integrative Competence) in Chartered Institute of Management Accountants (CIMA), not a summary of it.

1. 1

   Operational Case Study (OCS)

   3 topics

   • Role context: finance officer
     • Implementing organisational strategy operationally
     • Pre-seen and unseen material integration
   • Integrating E1, F1 and P1
     • Costing and budgeting applied to scenarios
     • Short-term decisions and financial reporting basics
   • Core activity competencies
     • Preparing accounting and management information
     • Supporting performance and risk management
2. 2

   Management Case Study (MCS)

   3 topics

   • Role context: finance manager
     • Translating strategy into medium-term plans
   • Integrating E2, F2 and P2
     • Performance management and advanced reporting
     • Project and people management application
   • Decision support and control
     • Managing projects and relationships
     • Investment appraisal and divisional control
3. 3

   Strategic Case Study (SCS)

   3 topics

   • Role context: senior finance manager / advisor to board
     • Long-term strategic direction and value creation
   • Integrating E3, F3 and P3
     • Strategy formulation, financial and risk strategy
   • Exam technique and competencies
     • Leadership and people skills competency
     • Time allocation and report-style answers

Case Study Examinations (Integrative Competence) flashcards for Chartered Institute of Management Accountants (CIMA)

23 of 50 cards from the Case Study Examinations (Integrative Competence) deck — real questions with worked answers.

1. At which CIMA syllabus level sits the Operational Case Study (OCS), and what workplace role does it simulate?

   Operational level; the candidate plays a Finance Officer.

2. Which three subjects are integrated and assessed together in the Operational Case Study?

   E1 (Managing Finance in a Digital World), F1 (Financial Reporting) and P1 (Management Accounting).

3. What role does the Management Case Study (MCS) simulate, and at which level?

   A Finance Manager, at the management level of the CIMA qualification.

4. Which three subjects feed into the Management Case Study?

   E2 (Managing Performance), F2 (Advanced Financial Reporting) and P2 (Advanced Management Accounting).

5. What role is simulated in the Strategic Case Study (SCS)?

   A senior finance manager acting as an adviser to the board, at strategic level.

6. Which three subjects are integrated in the Strategic Case Study?

   E3 (Strategic Management), F3 (Financial Strategy) and P3 (Risk Management).

7. In CIMA's pillar structure, what do the E, P and F pillars stand for?

   E = Enterprise pillar, P = Performance pillar, F = Financial pillar.

8. How long is each CIMA case study exam and how is the case material delivered?

   Three hours; pre-seen material is released several weeks in advance, supplemented by unseen 'new' information given on exam day.

9. What are the four knowledge areas of the CGMA Competency Framework assessed across the case studies?

   Technical skills, Business skills, People skills and Leadership skills, underpinned by ethics, integrity and professionalism, with digital skills running throughout.

10. What are 'core activities' in a CIMA case study examination blueprint?

    The key tasks the simulated finance role performs in the workplace; each is given a weighting (%) and maps to syllabus competencies, and the exam tasks are built around them.

11. State the contribution formula used in management accounting (P1).

    $\text{Contribution} = \text{Sales} - \text{Variable costs}$.

12. Give the break-even point in units.

    $\text{BEP (units)} = \frac{\text{Fixed costs}}{\text{Contribution per unit}}$.

13. How is break-even revenue calculated using the contribution-to-sales ratio?

    $\text{BEP (revenue)} = \frac{\text{Fixed costs}}{\text{C/S ratio}}$, where $\text{C/S ratio} = \frac{\text{Contribution}}{\text{Sales}}$.

14. Define the margin of safety in units and as a percentage.

    $\text{MoS} = \text{Budgeted sales} - \text{Break-even sales}$; as a percentage $= \frac{\text{Budgeted sales} - \text{BEP sales}}{\text{Budgeted sales}} \times 100$.

15. What is the formula for the direct material price variance?

    $(\text{Std price} - \text{Actual price}) \times \text{Actual quantity purchased}$.

16. What is the formula for the direct material usage variance?

    $(\text{Std qty for actual output} - \text{Actual qty used}) \times \text{Std price}$.

17. Give the direct labour rate and efficiency variance formulas.

    Rate $=(\text{Std rate} - \text{Actual rate}) \times \text{Actual hours}$; Efficiency $=(\text{Std hrs for output} - \text{Actual hrs}) \times \text{Std rate}$.

18. State the Economic Order Quantity (EOQ) formula and its terms.

    $\text{EOQ} = \sqrt{\dfrac{2 C_o D}{C_h}}$, where $C_o$ = cost per order, $D$ = annual demand, $C_h$ = holding cost per unit per year.

19. How does the high-low method estimate variable cost per unit?

    $\dfrac{\text{Cost at high activity} - \text{Cost at low activity}}{\text{High activity level} - \text{Low activity level}}$.

20. Give the current ratio and the quick (acid-test) ratio.

    Current $= \frac{\text{Current assets}}{\text{Current liabilities}}$; Quick $= \frac{\text{Current assets} - \text{Inventory}}{\text{Current liabilities}}$.

21. How is Return on Capital Employed (ROCE) calculated?

    $\text{ROCE} = \frac{\text{Operating profit (PBIT)}}{\text{Capital employed}} \times 100$, where capital employed = equity + non-current liabilities.

22. Give the gearing ratio on a debt-to-capital basis.

    $\text{Gearing} = \frac{\text{Debt}}{\text{Debt} + \text{Equity}} \times 100$ (alternatively expressed as Debt/Equity).

23. What is the interest cover ratio and what does it measure?

    $\text{Interest cover} = \frac{\text{PBIT}}{\text{Finance costs}}$; it measures how many times profit covers interest, indicating solvency risk.

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