MoUBetweenICWAI and CIMA,UK

BABU.D (.) (408 Points)

09 January 2009  
MoUBetweenICWAI and CIMA,UK
 
ABRIEF
 
ICWAI and CIMA,UK has entered into a Memorandum of Understanding (MoU) and has agreed to  work  towards  recognizing  the  professional  qualifications  of  each  other.  Other  important aspects  of  the  MoU  are  co-operation  in  conducting  Applied  Research  on  Management Accounting,  exchange  of  studymaterials;  development,  updating  and  exchange  of  curriculum; conduct  seminars,  conferences  and  joint activities;  development  of management accounting guidelinesandensure highethicalstandardsoftheprofessionand itsmembers.
 
 
Under  the  MoU,  CIMAhas  agreed  to  exempt  following  papers  for  the  ICWAI  candidates  who havesuccessfullypassedthefinalexaminationof the ICWAIsyllabus.
 
 
a)  Completeexemption fromCIMACertificateLevelcomprisingof thefollowing fivepapers:
 
PaperC1  -  FundamentalofManagementAccountings.
PaperC2  -  FundamentalofFinancialAccounting.
PaperC3  -  FundamentalofBusinessMathematics.
PaperC4  -  FundamentalofBusinessEconomics.
PaperC5  -  FundamentalofEthics,Corporate Governance&BusinessLaw.
 
b)  Exemption from sixpapers of CIMA Managerial Level Examinations:
 
PaperP1  -  ManagementAccountingPerformanceEvaluation.
PaperP2  -  ManagementAccountingDecisionMaking.
PaperP4  -  OrganisationalManagementandInformationSystems.
PaperP5  -  IntegratedManagement.
PaperP7  -  FinancialAccountingandTaxPrinciples.
PaperP8  -  FinancialAnalysis.
 
ICWAIqualifiedcandidateswilltakedirectentrytoCIMA'sStrategicLevelexaminationsthrough a  “CIMA  Professional  GatewayAssessment”  (CPGA).  Following  successful  completion  of  the CPGA  an  ICWAI  student  will  be  awarded  the  CIMA  Advanced  Diploma  in  Management Accounting.
 

On the reciprocal, the ICWAIhasagreedtoexemptCIMAqualified candidatesasbelow:

 
a)  Complete  exemption  from  Foundation  Course  examination  which  comprise  of  following  4
papers:
 
Paper1     -  ManagementFundamentals.
Paper2     -  Accounting.
Paper3     -  EconomicsandBusinessFundamentals.
Paper4     -  BusinessMathematicsandStatistics.
 
 
b)  Exemptionfromthe otherfollowing8papers:
 
Paper5     -  FinancialAccounting.
Paper8     -  Costand ManagementAccounting.
Paper9     -  OperationManagement&ManagementInformationSystems.
Paper12  -  FinancialManagement&InternationalFinance.
Paper13  -  ManagementAccounting-StrategicManagement.
Paper15  -  ManagementAccounting-EPM.
Paper16   -  AdvancedFinancialAccounting&Reporting.
Paper18  -  BusinessValuationManagement.
 
 Sources:https://www.icwai.org/icwai/institute-mou-cima.asp
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