Changes to the CIMA Intermediate syllabuses for Financial Accounting and Management Accounting

(Papers 6a/b, 7a/b, 8 and 9)  

1. Introduction

Following a review of the implementation of the 2001 syllabus, CIMA is introducing a small number of changes from May 2002 to both the financial and management accounting topics at the Intermediate stage. The first assessment of the revised syllabuses will take place from CIMA’s May 2003 examinations. Details of the changes are outlined below.

2. Syllabus changes

2.1 Financial Accounting

The principal changes are

  • Pensions (FRS 17) (transferred from IFNA to IFRP)

  • Clarification of the treatment of goodwill and intangible assets in IFNA

  • Introduction of the principle of substance over form (FRS 5) in IFNA.

The reason for these changes is primarily to ensure that the Financial Accounting syllabuses are developmental.

Papers 6a/6b - IFNA syllabus weightings

The syllabus weightings have been revised as follows:

  • Regulation now 10% (unchanged)  

  • Accounting statements now 40% (formerly 30%)

  • Accounting treatment of significant

  • transactions now 30% (formerly 40%)

  • Interpretation now 20% (unchanged)  

IFNA assessment changes

The IFNA examination paper will include a 20% objective testing element from May 2003.

Paper 7a/b – IFRP syllabus weightings

The syllabus weightings are unchanged

Syllabus changes

Pensions (FRS 17) is fully examinable.

IFRP assessment changes

The IFRP examination paper will include a 20% objective testing element from May 2003.

2.2 Management Accounting

In order to ease the transition from Management Accounting Fundamentals through to Management Accounting: Decision (IDEC), changes are being introduced to the two Intermediate level papers – IMPM and IDEC. The changes, particularly in respect of IMPM, are designed to increase the transparency of the syllabus boundaries and more clearly define what is expected of students at this level.

As far as IDEC is concerned, the final element of the section on ‘new developments’ has been removed to rationalise the syllabus. It is apparent that the practical application of new developments occurs within the cost and accounting systems section of the syllabus. However, an overarching aim ‘apply management accounting principles and techniques within an international and business development context’ provides a strong indication of CIMA’s expectations in relation to the whole syllabus.  

The principal change is the relocation of several topics from IMPM to IDEC as follows:

  • transfer pricing;

  • learning curve;

  • planning and operational variances, and

  • cost and profit centres  

No additional topics have been introduced into the IMPM syllabus following the above changes.

Paper 8 - IMPM syllabus weightings

The syllabus weightings have been revised as follows:

  • Standard costing: now 25% (formerly 20%)

  • Budgeting: now 30% (formerly 40%)

  • Costing and Decision Making

(formerly ‘Allocation and management of resources’): now 45% (formerly 40%)

Paper 9 - IDEC syllabus weightings

The existing syllabus is being rationalised in order to allow for the incorporation of the former IMPM topics. The final section ‘new developments’, which represented 10% of the syllabus, has been removed. This has been transformed into an overarching element within the objectives of the syllabus.  

The syllabus weightings have been revised as follows:

  • Decision making 40% (unchanged)

  • Costing & accounting systems 30% (formerly 25%)

  • Investment appraisal 30% (formerly 25%)

2.3 Implementation of Changes – Important Notice

Any items relating to either the IMPM or IDEC syllabus that are subject to change will not comprise any part of a core question in the November 2002 examination diet. This will ensure that students preparing for the examinations are not disadvantaged. The transition to the new syllabuses will give students studying for IMPM in November 2002 a considerable advantage, as they will be studying topics that are shifting to IDEC within their current studies.

3. Full details of the revised syllabuses

These may be downloaded from the CIMA website with effect from June 2002.