Candidates with a relevant Master's degree or MBA may be eligible for the CIMA Masters Gateway, which skips the Operational and Management levels entirely and moves straight to Strategic level. Many employers also support study through the CGMA Finance Leadership Program (FLP), an alternative learning and assessment pathway integrated with workplace experience. See [CIMA entry requirements & exemptions](/about-cima/entry-requirements-and-exemptions).
CGMA Professional Qualification
CIMA Qualification and Syllabus
The CIMA qualification develops knowledge of management accounting, business performance and financial strategy. Explore the Certificate in Business Accounting and the Operational, Management and Strategic levels to understand the subjects you may need to study.
Four levels, 16 exams
What each level covers
Certificate in Business Accounting (Cert BA)
The entry point for candidates without a relevant degree or prior qualification.
BA1Fundamentals of Business EconomicsHow markets, competition, and government policy shape the environment a business operates in — micro and macroeconomics, market structures, and monetary/fiscal policy.BA2Fundamentals of Management AccountingThe basics of costing, budgeting, and break-even analysis — how businesses track and control costs and use simple performance measures.BA3Fundamentals of Financial AccountingDouble-entry bookkeeping through to a trial balance and basic financial statements — the mechanics of recording and reporting transactions.BA4Fundamentals of Ethics, Corporate Governance and Business LawThe CIMA Code of Ethics, core governance principles, and the basic legal framework businesses operate within.
Operational level
Short-term, operational focus — managing finance day to day.
E1Managing Finance in a Digital WorldHow organisations are structured, the role of the finance function within them, and the technologies reshaping how finance teams operate.P1Management AccountingCore costing techniques, budget preparation, and short-term decision-making tools used to plan and control day-to-day operations.F1Financial ReportingPreparing financial statements for single entities, the regulatory framework behind them, and basic taxation principles.
Completed by the Operational Case Study (OCS), which draws mainly on P1 and F1, with E1 in a supporting role. On completion: awarded the CIMA Diploma in Management Accounting (CIMA Dip MA).
Management level
Medium-term focus — planning, analysis and managing performance.
E2Managing PerformanceProject management, managing stakeholder relationships, and leading change and talent within a team or function.P2Advanced Management AccountingMore advanced costing, budgeting, and performance management techniques, applied to more complex organisational scenarios.F2Advanced Financial ReportingPreparing group (consolidated) accounts, analysing financial performance, and applying more complex accounting standards.
Completed by the Management Case Study (MCS), shifting from technical execution toward integrated business analysis. On completion: awarded the CIMA Advanced Diploma in Management Accounting (CIMA Adv Dip MA).
Strategic level
Long-term, strategic focus — the final stage before membership.
E3Strategic ManagementCorporate strategy formulation, leadership, and managing change and stakeholder relationships at an organisational level.P3Risk ManagementIdentifying, evaluating, and building frameworks to manage risk across an organisation.F3Financial StrategyLong-term financing decisions, business valuation, and how organisations fund and evaluate major investments.
Completed by the Strategic Case Study (SCS) — the final exam before full CIMA membership and the CGMA designation. On completion — plus assessment of the Practical Experience Requirement (PER) — awarded full CIMA membership (ACMA or FCMA) and the CGMA designation.
Alternative routes
Questions
Frequently asked questions
How many exams make up the full CIMA qualification?
16 in total — 4 Certificate papers, 9 Objective Tests (3 per professional level), and 3 Case Study exams.
Do I have to take the Certificate level?
Only if you don't already hold a qualification or degree that earns you exemption — many graduates and other professional qualification holders skip straight to the professional levels.
What are the three pillars?
Enterprise (E) — strategy and organisation; Performance (P) — management accounting; Financial (F) — financial reporting and strategy. Each runs through all three professional levels.
What do I get for completing each level?
Operational level awards the CIMA Diploma in Management Accounting; Management level awards the CIMA Advanced Diploma in Management Accounting; Strategic level, plus the Practical Experience Requirement, leads to full CIMA membership and the CGMA designation.
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