CIMA Strategic Level: A few thoughts…
It’s been a quiet few weeks for me on the blog.
This was due to a killer workload during December and year end. Those that follow me on twitter would have seen a few accounting situations that I found myself in!
It seems the busy time at work is over, well, for now, so I have decided to focus again on my CIMA studies and the F3 Financial Strategy paper.
I’ve been studying for at least 90 minutes everyday for last few weeks and will attempt the F3 exam early March, but it feels right to reflect a little bit and share my own observations and experiences with the CIMA strategic level so far.
I definitely have more motivation to study CIMA these days, I can almost see the light at the end of the tunnel with just 3 exams left to pass.
I just want to get F3, E3 and the SCS done and dusted.
I felt I was drifting a bit with the F2 and P2 papers on management level, so a word of advice for students still on Management level, keep going! You’re almost at that final level and believe me it’s not as hard as you think (for reasons I will explain).
I feel more comfortable now on Strategic level, I know the syllabus, the exam format and the base I have given myself with the CIMA Operational and Management level fills me with confidence that I can complete the strategic level sooner rather than later.
I used to doubt myself when faced with tough areas i.e. the F2 exam preparation was horrible when I look back, I felt areas like WACC were going to be beyond me. But I passed the exam (eventually)… so I know I can get through it if I apply myself and put the hours of work in.
I have confidence in the exams too.
We all know the CIMA objective tests now like the back of our hand, I have strategies for the exams and I’m ready to hit the ground running.
So far in my F3 studies I haven’t felt too much connection with the F1 and F2 papers, in fact the CIMA P3 paper has felt closer in terms of the syllabus.
Which is a good thing for strategic level students – having passed P3 a couple of months back – it’s helped with approaching the CIMA F3 subjects of equity financing and beta factors, for example.
There has been a definite overlap between the P3 and F3 papers, which can only be a good thing!
Real Life Situations
Another bonus I have found while studying for P3 and F3 exams is the fact I can relate to it more, there are more examples of the syllabus content playing out in front of us.
Whether it’s from Corporate Governance situations (see the Patisserie Valerie accounting scandal) or share issues and understanding why Royal Mail shares have dropped 11%.
It feels more tangible than applying the Learning Curve from P2 or other areas of costing that seem to be obsolete unless you work in a manufacturing environment!
So don’t let the strategic level seem like a insurmountable challenge, you might find it “easier” than tackling the management level.
All in all, I might look back at his blog post in a few months time when I attempting my 5th resit of the F3 paper and laugh. And think what the hell was I on about..
But at the moment, I can feel the momentum is building towards a big strategic level finish for myself.
Here’s hoping I can crack the F3 paper at the first attempt. If not, I will bring my sleeping bag and camp outside the Pearson VUE centre until it’s passed!
Good Luck to all CIMA students out there in 2019!