On the 8th October 2015, CIMA announced details of their new Certificate in Business Accounting (Cert BA), which will be introduced from 11th January 2017. The Cert BA offers an entry route to the Professional Qualification and now has direct links to the three learning pillars on which the 2015 Professional syllabus is based. Additionally, the Cert BA can be completed as a stand-alone qualification, giving students a recognised certification in the fundamentals of accounting, economics, ethics, corporate governance and law.
The most significant announcement was the removal of the existing C03 Business Mathematics subject. Under the 2017 syllabus there will only be four units examined: Fundamentals of Business Economics, Fundamentals of Management Accounting, Fundamentals of Financial Accounting and Fundamentals of Ethics, Corporate Governance and Law. Maths elements that had previously been examined in C03 will now be tested within the other units allowing for more context and application of techniques.
You are probably wondering how this is going to affect your current progression through your CIMA Certificate studies. The answer to this depends on your intentions once you have completed the Cert BA.
If you intend to continue studying and move onto the 2015 Professional Qualification
Students who have not completed the C03 Business Mathematics unit can apply for a waiver, even if they have been unsuccessful in a previous C03 exam attempt. This will allow you to move onto studying the Professional Qualification as soon as you have completed all four of the other units.
You will still require business mathematics knowledge as you progress onto the 2015 qualification and so Kaplan are advising any students booked onto a course in 2015 to continue as planned, either sitting the exam or taking the waiver (the cost of the waiver is marginally higher at £56 instead of £53).
If you were planning on studying for the Business Mathematics unit in 2016 and wish to take the waiver, please contact Kaplan on 01908 540069 to discuss how Kaplan can best support you in your transition to the Professional Qualification.
If you are studying to gain the Certificate in Business Accounting only
To be awarded the Cert BA before 11th January 2017, you must pass all five exams, OR pass the four exams and take the C03 waiver.The exception is if students have an exemption for C01, C02, C04 and/or C05 – in which case you must pass C03 in order to get the Certificate in Business Accounting award (or sit the exam(s) which you are exempt from and take the waiver instead).
In 2016 Kaplan will launch a new flexible way to study for C03 using pre-recorded lectures. Students will receive the same great level of support from our dedicated team of student support advisors, as well as all of the high quality resources and official material they are used to. Please contact Kaplan on 01908 540050 to find out more. Our Distance Learning courses, including Standard and Premier will also continue to be available.
If you haven’t completed studying for the 2011 Cert BA by 11th January 2017 credits will be given for subjects within the 2017 Cert BA as follows:
However, you must sit for and pass at least one exam under the new 2017 syllabus before you will be awarded the new Cert BA.
Bear in mind, 2017 is still a long time away so the key message from both Kaplan and CIMA is to keep on track with your studies and aim to progress as soon as you can. Good luck.