CIMA Operational Level (E1, P1, F1) - For Exams in 2026

2026 CIMA's Diploma in Management Accounting

The Operational Level focusses on short-term decision-making. You’ll be able to work with others in your organisation and use appropriate data and technology to translate medium-term decisions into short-term actionable plans.

E1 Managing Finance in a Digital World

A. Role of the finance function

B. Technology in a digital world

C. Data and information in a digital world

D. Shape and structure of the finance function

E. Finance interacting with the organisation

What do you learn in E1?

• The central role that finance plays in an organisation, and how and why technologies used impact the finance function.

• How to use and examine data collected and processed by machines to create and preserve value for organisations.

• How the finance function is structured and shaped, and how it interacts with other parts of the organisation to achieve the objectives of the whole organisation.

P1 Management Accounting

A. Cost Accounting for decision and control

B. Budgeting and budgetary control

C. Short-term commercial decision making

D. Risk and uncertainty in the short term

What do you learn in P1?

• Why costing is done and what it is used for, including appropriate costing methods and techniques and where digital costing might be used.

• How budgets are prepared and implemented across the organisation, the impact these have, and how techniques are applied to ensure sound short term decision making, against a backdrop of risk and uncertainty, by using appropriate risk management tools.

F1 Financial Reporting

A. Regulatory environment of financial reporting

B. Financial statements

C. Principles of taxation

D. Managing cash and working capital

What do you learn in F1?

• Who the regulators are, what they do and why and how regulations are applied.

• How to prepare basic financial statements using financial reporting standards.

• How to distinguish between types of taxes, calculate corporation taxes and issues affecting taxation.

• What tools are used to ensure that the organisation has enough cash to ensure its continuing operations.

Operational Level Case Study

The Operational Level Case Study Examination provides the simulated role of an entry-level finance professional, which allows candidates to demonstrate that they have acquired the required knowledge, skills, techniques and mindset for that role.