There is something new and exciting in the world of CIMA, and it is called the CIMA CGMA Finance Leadership Program (FLP). Trust us; whether you are an existing or potential CIMA student, you need to know more about it! CIMA is now offering an additional route to qualification!
And you are right to be doing your research, as the path you choose could make a big difference to your exam success, the cost of your CIMA course and potentially your career.
Let us start at the beginning!
- What Is The FLP?
The CIMA Finance Leadership Program is a new, alternative route to becoming CIMA qualified that will sit alongside CIMA’s Professional Qualification. You might already be familiar with CIMA’s professional qualification as it is the way Chartered Management Accountants have traditionally qualified to become professional members – the course you may well be part way through by now.
So why has the CIMA CGMA FLP been introduced? Put simply, it is due to growing demand. People want more online learning and assessment, as well as more flexibility, and that is precisely what the CIMA FLP route provides. It is an entirely different approach to learning and assessment, allowing you to study AND undertake assessments when YOU want!
- How Will I Be Assessed On The CGMA Finance Leadership Program Syllabus?
This is the biggest surprise of all… you do not need to sit your ‘Objective Test’ (OT) equivalent exams under exam conditions if you take the CIMA FLP route; in fact, you do not take OT exams at all! You will still have to take the 3 case study exams, but there are no bigger, end-of-course, Objective Tests.
Instead, you will be assessed by how well you answer sets of questions embedded into the learning materials as you work through the course. The system automatically marks the questions, which provides automated feedback instantly.
The CIMA CGMA FLP assessments are more frequent than OT tests in the traditional route but are much shorter and, of course, do not have to be taken under exam conditions meaning you can use your notes to help you answer them.
- How much does the CIMA FLP cost?
The CIMA FLP fees are subscription-based, and the prices that CIMA is quoting for ‘CGMA Skills Plus FLP’ are as follows:
1 year £2,400
2 years £4,080
3 years £6,120
That includes everything you would need to qualify: tuition, assessments (including case study exams) and membership fees.
You must be aware, though, prices are subject to changes – check the CIMA website for up-to-date pricing. Although the CIMA FLP fees sound like quite a lot of money, they include all costs; membership fees, learning materials and assessment and exam fees.
And, as you pay on a subscription model, you will only pay for the time you need the materials, incentivising you to complete the CIMA CGMA FLP course at a reasonable pace.
- What are the benefits of studying the CIMA CGMA FLP?
Benefit #1 – The only study timetable you must stick to is your own!
Benefit #2 – Learn in bite-sized chunks
Benefit #3 – You could save yourself some money
- What are the drawbacks of studying the CIMA CGMA FLP?
Drawback #1 – Remote learning is not for everyone
Drawback #2 – Budgeting for CIMA’s subscription fee
Drawback #3 – No going back (for the moment, at least!)
- Will the CIMA FLP route have the same value as the traditional route?
With an excellent and comprehensive syllabus and three tough barriers to qualification in the case studies, CIMA CGMA FLP is likely to be just as highly regarded as the traditional route. CIMA says they work closely with employers and sponsors and respond to their needs by constantly evolving and updating their professional qualifications and experience requirements.
So, we can assume that the introduction of CIMA CGMA FLP has been led by the needs of businesses and their people. Furthermore, employers tend to take most notice of the qualifications people get at the end and not how they got there, and CIMA is a highly respected qualification that employers will continue to trust.
Remember, employers are more interested in your ability to apply what you have learnt in your job to help the business achieve its goals than in how you learnt it. So, we do not think you need to worry about which approach to take in this regard, as CIMA is very well respected and is always likely to be.
By now, you will understand there are quite a few differences between the two routes!
So, in short, the CIMA CGMA FLP will be the best choice for you if you are focused, capable of self-directed learning, and want to be qualified as quickly as possible. Conversely, if you are someone that needs a bit of a push to make your way through your qualification, FLP might offer you the motivation you need as you will get access to the FLP platform for a limited time, giving you a deadline to get through your studies. It is also likely to be the best choice if you struggle with objective testing, as there are no objective test exams. However, if online learning is not something that you would consider – perhaps you prefer to be in a classroom environment – then FLP probably is not right for you.
Hopefully, we have answered any burning questions you may have about the new CIMA CGMA Finance Leadership Program! But if you still have any other questions concerning FLP post them in the comments box below, and we will get back to you!