Chapter learning objectives
After completing this chapter, you should be able to recognise how the key management accounting knowledge areas can be interpreted in terms of the competencies required for the CGMA case study exam.
The CGMA exam combines the knowledge across three main areas of strategic management accounting:
Strategy development and implementation
– How to formulate organisational strategy and provide the overall context for its effective implementation
Governance and risk management
– How to identify, classify, evaluate and manage risks that could impede the implementation of strategy
Corporate financial strategy
– How to evaluate and source the financing required to implement strategy and consider the sources from which such financing could be obtained.
Let us start by reviewing the body of knowledge and topics covered in these three strategic management accounting areas.1