The Analyst Down Under

It's high time we knew all about the CIMA Strategic Level Exams. The main page for all information regarding Strategic Level is: http://www.cimaglobal.com/Students/2010-professional-qualification/Strategic-level The three papers (E3, P3 and F3) all need to be taken at the same time on the first sitting, (not that I was planning otherwise). There is a three hour written exam paper for the three exams, plus 20 minutes of pre-exam reading time, with two sections: Section A: a maximum of four compulsory questions, totalling 50 marks all relating to pre-seen case study and new unseen case material provided in the exam. Section B : two questions from a choice of three , based on short scenarios to which some or all questions relate, each worth 25 marks. The pre-seen material in section A will be published online six weeks before the exam and is common to all three of the strategic level papers at each exam sitting. That means that in case I have passed the managerial exams and will be...

Walking down the lane towards the masjid for maghrib prayers, I was finally able to breathe in the cool crisp air of the heavily planted upscale Clifton suburban lane, deliberately measuring my steps without any mental processes frantically trying to grasp those consolidation adjustments or other muddling thoughts. With the last few minutes of my attempts at earning more marks in the managerial exams having drawn to a close, I had given in my final paper with many-a-hope, fear and regret. For the main part, I vowed to start as early as possible in my preparation for the next exams so that I would be able to absorb the syllabus into my bloodstream, and simply let it flower during the exams, very much like the hard-working bee produces honey, instead of the usual last-minute desperate dash, complete with hair fall, worrying-sickness and weeks of jail-sentence-like studying routines. So now I have a 50% chance at passing at least one, and maybe two or even all three managerial level...

Yes, I'm shaky. And hoping I'll blossom like a wildflower during the exam, blazing guns and hitting the target without any shooting practice, not even the specimen paper, and a good part of revision process still underway with only four hours till I have to make the march to the exam hall. But from all I've read so far, I need to remember: - to take it as it comes: It's not all about the black and white I've had to drink in the last few (I mean xerox powder). As long as I'm making commercial sense and can draw on some of the material I've read, I can probably score, so I shouldn't be intimidated by a what's-that how's-that. Just give the man some good advice that someone like a boss or a client or such would be able to really use in practical life. That is the essence of CIMA exams and that should work out just fine. In fact, like formalized strategy formulation, I don't want to let the syllabus put me in a box. I'm sure I got a dece...

Scoring possibly 30% on the specimen paper is not good. But it could have been worse, since I didn't really think it would be so tough. Those guys weren't kidding when they said everything will be tested, and anything too, all the way from C01 to P1 and P2 as well. Now you don't just get by making calculations, you need to know the deeper logic, rationale and mathematical, logarithmic inner workings of all the concepts you've ever come across by now. You need stamina to go through the whole wringing process but the good part is that if you're some kind of management accounting guru by now you can simply: 1) quickly and comprehensively grasp the specific requirements of each question 2) analyze the scenario sharply and observantly, with a reasonable depth of understanding 3) use your vast management accounting and commercial sense to recognize what the problem is and what the appropriate solution is 4) rattle off relevant principles, theory and argumentation t...

As dusk approaches and the last day of (Bohra) Eid-ul-adha disappears into the sunset, I am finally getting set to begin my final preparation for P2 and E2 after almost a four-day stretch of preparing for my weakest paper (F2). Having taken a look over the May 2010 paper (another touch-and-go proposition), there is not much change in the existing strategy, though the pressing need for additional preparation continues to haunt me. The final preparation list is as follows, which will probably take place once I have given in the P2 paper on the final eve and day-time hours before the paper, hopefully armed with the revision kit and some clarified concepts: For the main bulk of the paper: 1. Understand clearly the requirements for subsidiaries, associates and joint ventures: when to consolidate fully/ partially and use equity accounting for consolidation of financial statements including SOCI, CSCIE, CSOFP and CCFS with crystal clear concepts relating to extent of ownership based on ...

Usually cribbing about the lack of public holidays in Karachi, the five day weekend for Eid-ul-adha should help to satiate our appetites, literally too, with plenty of meat to sink our teeth into. As Karachi reverts to six-day drudgery with the winter season bringing with it a healthy dose of aspirin and ibuprofen for all those running noses, this wonderful, vacation-like, last, long holiday-making stretch will be spent fully utilized in studying for the upcoming exams straight after with the kids staying home, as much as they would have loved to enjoy the changing season. Until yesterday, the chill was hurting everywhere, since I believed I didn't have a chance at passing at least one of the exams, F2, despite hours of study and sheafs of practice more than I did for F1. My failed attempt at getting the revision card kits delivered home may also have been a blow to my plans for revision, but the alternative of going through the practice kits instead may have been more fruitful any...

I've been studying so hard, I am now pretty sure how I should have studied from the start. As with all things me, its come to me a little late or just in time to a millimeter, with no space to spare. I got my hygiene factors in place early enough, thank God, carving out a study place where I can sit and study in a suitably conducive environment, or I would be lounging around like I was last time all around the house until just a month before the exams. The managerial level syllabus has refreshed some important planning, management and control techniques that can be applied to studying for the exam. However, simplicity is key rather than a complex schedule that was pretty time consuming just to manage. A block chart manager, with a line for Completion, Each of the subjects, and Weeks is the main planning and control tool. Completion chases weeks and each of the subject lines, divided in area by each part of the syllabus, is shaded. In studying for each part of the sy...

I had sent in my Pre-Application Skills Assessment (PASA) to the ICAA last Friday, but it isn't being processed until the coming Monday at least. It took Pakistan Post's Express Mail Service (EMS) about two days to reach Australia and another four days for Australian post to finally deliver it to the postal box address on the form. Tracking the package was not a problem, as both Pakistan Post and Australian Post provided tracking summaries of the package. Another risky undertaking that saved at least me Rs. 1,200 from an exchange service or a fat half-lie at my bank was that I included my VISA card details on the form for payment. I've sent them three emails so far to tell them that they will need to advise me the exact time and date of payment so I can activate an online session to be able to complete an online transaction. This is a potentially costly risk in case it doesn't work out, as I would have to pay Rs. 1,200 plus the local exchange rate for AUD, which has inc...

As outlined in my earlier blog, CIMAstudy.com is probably a more preferable way to study than sifting through xerox powder and heavy bound books with a large red stripe down the center of ever page. And even better, there are big discounts available through promotions. One of the best discounts is available through IIB , a Ukrainian University at http://www.iib.com.ua. (click here to view the page in English, and here to view the page about distance learning programs in association with IIB) "IIB as the participant of CIMA Affiliate Sales Partner Program offers students a unique possibility to get 60 % discount through the use of a Special Offer Coupon. The coupon is free off charge; it’s possible to get it by completing registration form ." CIMA also has promotion from time to time, such as their last one offering all students in Pakistan the opportunity to buy three CIMAstudy courses at a 33% discount, quoting 33MAPA as the promotion code. Unfortunately, this promo wa...

Well another CIMA blogger titled her recent post "Only 72 days until my first Operational Level exam!". This is just one of the many reminders that the examination dates are closing in on me, and increasingly I'm starting to feel like a deer in headlights. You see, I started worrying about the exams early enough, I just haven't started any real preparation. I was busy: 1. Worrying about when the CIMA site will be updated with information that is still 'to be published' shortly before I decided to try other sources for study material 2. Finally getting the texts and fretting about the number of kilos I have to digest 3. Deciding on which exams to go in for - one level with 3 papers at a time seems less likely 4. Understanding the program requirements e.g. learning outcomes and verbs 5. Reading through the introductory sections and memorizing course contents before taking the plunge (basically just procrastinating) 6. Drawing up a schedule that...