CIMA Paper 5: Ethics, Corporate Governance and Business Law

CIMA Paper 5: Ethics, Corporate Governance and Business Law

The CIMA Ethics, Corporate Governance and Business Law course forms the fifth and final step in your progression to membership of the Chartered Institute of Management Accountants (CIMA). That's the qualification corporate employers are looking for when recruiting for high-level positions, highly regarded in business in Britain and internationally, and shows your advanced understanding of the strategic and financial elements of successful business.

In the CIMA Ethics, Corporate Governance and Business Law course, you will study business law, looking at a wide range of subjects, from contractual obligations to company formation. You'll learn to look at business with a wider perspective and make vital decisions that could result in considerable success for your business.

You will compare English law with other legal systems, and study contract law and employment law, looking also at international business law.

Company administration and finance forms a major part of the Paper 5 course, looking at the characteristics of different forms of business and at their advantages and disadvantages.

You will also study business ethics and understand the importance of ethics in business as a whole and in particular in the accountancy profession.

And you will study corporate governance and its interaction with business ethics and company law, taking a look at the international history of corporate governance and its effect on directors' behaviour.

Entry Requirements

You don't need any previous experience or qualifications to enrol in our CIMA courses. That's because we believe in making home study - and a rewarding future - as accessible as possible. However, you will need a good standard of maths, and a solid grasp of English.

Where will I go from here?

With the skills you gain from this and the other papers that make up this qualification, you will be able to provide accounting, management and finance skills from a variety of roles within business. You'll be in demand for positions as diverse as systems analyst, sales manager, Chief Financial Officer or consultant, depending on your particular interests. 

What will I gain?

On completion, you'll receive the CIMA Paper 5: Ethics, Corporate Governance and Business Law qualification.

Completion of Papers 1 to 5 qualifies you for a CIMA Certificate in Business Accounting.

Awarding Body

CIMA is the world's largest and leading professional body of management accountants with 172,000 members and students in 165 countries. The papers we offer make up the Certificate in Business Accounting. It is the entry level accounting qualification for students with little or no accounting background and is a recognised qualification in its own right which is valued by employers.

Assessment

In order to complete the course, you'll need to undertake three formative assessments (set by ICS) during your course and one final exam (set by CIMA).

Formative Assessment 1

  • 5 scenario-based questions

Formative Assessment 2

  • 5 multi-part short-answer questions

Formative Assessment 3

  • A mock exam

Final Exam

  • A computer-based exam consisting of 50 questions which must be completed within 2 hours

Notes

Scenario-based questions use hypothetical scenarios to test your application of knowledge. These questions are typically multi-part.

Generally, assessments can be sent to us online via the ICS Student Community: it's the fastest way to receive your results.

The format of the exam is subject to change. The details provided are intended only as a guide and should not be regarded as definitive.

Please note that you will be required to register with CIMA to sit the exam.

What will I get?

Because we're experts in home learning, ICS knows about and offers all the support you need along the way.

You'll receive study materials that have been specially designed for distance learning by experts in your chosen field.

You'll receive CIMA approved study materials, including the CIMA Official Learning System (the only test written and endorsed by CIMA).

You'll have access to an experienced personal tutor both online and over the phone, ready to help you with guidance and motivation.

You'll also be part of the ICS Online Student Community, where you'll have access to library materials and your account information, as well as vital links with your fellow students, with the chance to discuss your work, ask questions and make new friends.

Study Period

12 months

Hours of study

130 hours

(That's equivalent to 2 ½ hours of study a week over the 12-month support period)

Support period

12 months

Course code

M04

Course cost

£229.00

Additional fees

There are CIMA registration, exam and exemption fees that are additional to your course fees:

  • CIMA Registration Fee: £63
  • Exam fees: £45 per paper
  • Exemption fees: £45 per paper

Find out more information about arranging your examinations.

See your course content

Key Topics

Comparison of English Law with Alternative Legal Systems

  • Understand how behaviour in society is regulated by civil and criminal law, and discover the sources of English law. Examine the doctrine of precedent and the tort of negligence. Compare English Law with that of alternative legal systems, and consider the role of international legal regulations.

The Law of Contract

  • Examine the different forms of contracts and the essential elements of each. Consider legal agreement between negotiating parties. Discover how the law controls the use of unfair contractual terms. Explore the area of non-performance of a contract, including valid and invalid reasons for non-performance, as well as the possible repercussions of non-performance.

The Law of Employment

  • Explore the differences between employees and independent contractors, and discover how the contents of a contract of employment are established. Examine the distinction between unfair and wrongful dismissal. Consider how both employers and employees are affected by health and safety legislation, and discover the consequences of failure to comply.

Company Administration and Finance (1)

  • Examine the essential characteristics of the different forms of business organisations and the implications of corporate personality. Consider the purpose and legal status of the memorandum and articles of association. Understand the main advantages and disadvantages of carrying on business through the medium of a company limited by shares. Examine the nature of board meetings and general meetings of shareholders, as well as the voting rights of directors and shareholders.

Company Administration and Finance (2)

  • Examine the different types of share and the procedure for the issue of shares. Explore the maintenance of capital principle and the procedure to increase and reduce share capital. Consider secured and unsecured loans. Examine the role of directors and the company secretary, and contrast the rights of shareholders with those of the board of a company.

Ethics and Business

  • Understand that professional accountants have a commitment to act in the public interest and with social responsibility. Consider the need for a framework of laws, regulations and standards in business. Examine the nature of ethics in the accountancy profession and business as a whole. Examine the reasons why CIMA and IFAC each have a 'Code of Ethics for Professional Accountants'.

Ethical Conflict

  • Examine the relationship between ethics, governance, the law and social responsibility. Understand the consequences of unethical behaviour to the individual, the profession and the society. Consider ethical dilemmas and conflicts of interest, as well as potential resolutions.

Corporate Governance

  • Understand the interaction of corporate governance with business ethics and company law, and examine the international history of corporate governance. Explore the effect of corporate governance on directors' behaviour. Investigate different board structures. Discover the different types of policies and procedures that best-practice companies introduce. Study the regulatory governance framework for companies.

You can either pay for your course in full or opt for a monthly payment plan.

Course fee: £229 (excluding discounts)

Or speak to one of our course advisors now for payment plans.

 

There are CIMA registration, exam and exemption fees that are additional to your course fees:

  • CIMA Registration Fee: £63
  • Exam fees: £45 per paper
  • Exemption fees: £45 per paper

Find out more information about arranging your examinations.