The Managerial level will give you a thorough understanding of management accounting, business management and financial management.

It will enable you to understand accounting regulations and tax liabilities or gains that may arise through capital transactions.

You will understand how organisations operate, their different structures, operations and business requirements as well as how to use resources effectively and manage quality and effective communication within organisations.

Upon completion of the Managerial level exams you will be awarded the CIMA Advanced Diploma in Management Accounting

P1 - Management Accounting Performance Evaluation
P2 - Management Accounting Decision Management
P4 - Organisational Management and Information Systems
P5 - Integrated Management
P7 - Financial Accounting and Tax Principles
P8 - Financial Analysis

* Exempting papers in Taxation are available in some countries. Once you register you will receive CIMA's Student Resource File, giving full details of these.

You will develop decision-making and management skills through studying the Managerial level – as well as an expertise in technical accounting matters.

When you complete these subjects, you will receive the ‘CIMA Advanced Diploma in Management Accounting’.

You must complete all of the Managerial level, either through exemptions or exams, before you can move onto the Strategic level.

CIMA assessment changes to Managerial level examination papers from the May 2007 diet

1 Changes to exam paper section weightings

The following three Managerial level exam papers will have new section weightings as from the May 2007 diet:

Paper P1 Management Accounting Performance Evaluation
Paper P4 Organisational Management and Information Systems
Paper P7 Financial Accounting and Tax Principles

The new section weightings for these three exam papers will be as follows:

Section A - 40 marks (previously 50 marks)
Section B - 30 marks (previously 30 marks)
Section C - 30 marks (previously 20 marks)

2 Changes to individual exam paper assessment formats -

Paper P7 Financial Accounting and Tax Principles (Only)

From the May 2007 exam diet, Section C of Paper P7 Financial Accounting and Tax Principles will contain one compulsory question covering the preparation of at least two of the three key financial reporting statements - the income statement, balance sheet and cash flow statement.

This change to section C of paper P7 is the only change to the assessment format for any exam papers. The assessment format for sections A and B of paper P7 will remain unchanged.

Download examples ---here--- [External Link; New window]

Note: For papers P1 and P4, the assessment format for sections A, B and C remains unchanged and is as follows:

Section A - a variety of compulsory objective test questions each worth between two and four marks
Section B - six compulsory short answer questions, each worth five marks
Section C - one question from a choice of two

Managerial level exemptions

We give exemptions to make sure you are not re-assessed in a subject that you have already studied. Before you decide whether to accept any exemptions, look at the syllabus and exam papers to make sure that your knowledge is up to date. It is important you are confident that you have a good understanding of the subject – this will give you a greater chance of success in future CIMA exams.

If CIMA award your previous qualification exemptions from all of the Managerial level subjects and you decide to claim all of these exemptions, you will not receive the Advanced Diploma. You must sit at least one CIMA exam from the Managerial level in order to receive the Advanced Diploma.

Check the database to see if you have accredited your degree or previous qualification. If so, you may be able to claim exemptions from some of the Professional qualification exams.