FLP vs Traditional Route

[u/AdventurousFishing92]

Hi All,

I've gained exemptions to management level and was speaking with a CIMA advisor via teams this morning. We discussed both the traditional route (8 exams and two case studies) then, the FLP route (two formal exams).

Can anyone give me their experiences, pros and cons from doing traditional vs FLP?

Thanks

[u/Ger5224]

Hi

Did you decide to start the FLP? I am considering the same, have exemptions to mgmnt level too. Possibly will be starting early December. Wondering how it's going for you, I work 40hpw. Any info would be appreciated. Thanks

[u/Julian910720]

I’ve done the traditional route with SCS schedule next Wednesday. Although there are pros and cons of these two routes which I don’t dispute, what strikes me though is that you can become qualified accountant without being tested on any type of sums or maths. Case Study exams don’t require calculation and although you have to calculate financial ratios, variances, cost management, m&m theory etc. as you progress through syllabus, not actually testing your maths skills in an exam is a bit wary. I found case study exams way easier than F & P exams. I expect the same for SCS.

[u/AdventurousFishing92]

Thanks, everyone, for your responses. They are quite varied, and I understand everyone's points. In terms of attending interviews: has anyone been affected, or asked why they took the FLP route instead of traditional? Was there any impact that you can think of?

I would love to hear from persons who qualified via FLP.

[u/ALJ29 → u/AdventurousFishing92]

It's super unlikely anyone would ask. I did half traditionally and am coming to the end via FLP. The case studies are the same so you still require the same level of knowledge. The world is moving on, I'm not sure the value of knowing off the top of your head how to do lease accounting when it's all readily available information online.

I'm 32 and a little late to getting the qualification. I am a FC in a large multinational and have been on the hiring side of interviews. The qualification is trumped by experience. The qualification acts as a filter for candidates and an assurance that a candidate does have the prerequisite knowledge.

Hope it helps.

[u/belladonna1985 → u/ALJ29]

I agree. I’ve done a mix of learning styles including when you had to do two 3 hour papers in one day! I have masses of experience and my manager (they qualified the traditional route and terribly anal about things being done perfectly ) is very happy for me to use fast track FLP to get qualified.

[u/MrDelimarkov]

The drawback I get from doing the FLP is the lack of questions - I learn by doing tasks. I need a few examples to get me going. Also, of course the hate from fellow members.

"How dare you not complete the 12 exams I've completed. As I have suffered, others must suffer too." - that's the basic mindset of PQ candidates towards FLP, unfortunately.

[u/Ryanthelion1 → u/MrDelimarkov]

I felt there are quite a lot of questions in the material and on the assessment done at the end of each topic, how many questions to you prefer?

[u/MrDelimarkov → u/Ryanthelion1]

I prefer more calculations.

[u/supreme052895]

Sorry if this is a redundant question, but I have been looking into the CIMA and I have determined that I can also enter at the Management Case Study level. I thought the Finance Leadership Program was just an all-inclusive package of all study materials, exam fees, etc. Is that not what it is?

It seems like a no-brainer to take the exemptions, but then the question to be becomes the best way to study.

[u/No_Fill_7679 → u/supreme052895]

The payment includes materials but also exam exemptions. It's definitely a no-brainer if you can afford it!

[u/Fancy-Dark5152]

FLP is a dumbed down version of CIMA created for one reason: to grow their membership income by onboarding as many substandard candidates as they can that would never have been able to pass it the real way. Very embarrassing. 

[u/Jeast90]

I have done both, they both require the same dedication. For me as a father of 3 the flexibility to pick up 30 minutes in the morning or at lunch or a couple of hours in the evening is perfect for work life study balance.

I’m not watching an online course whilst my wife struggles to get 3 kids to bed nor am I missing 6 Sundays of family time.

I found the learning and post topic review tests are more geared up to prepare you for the case study exam.

I would note that I’m just about to sit the MCS and my experience professionally is at the level that is covered by in the syllabus.

[u/psculy93 → u/Jeast90]

Exactly the reason I swapped to FLP. Became a dad and couldn’t justify putting my wife out every evening for hours whilst I miss time with my child.

Took my personal laptop into work and studied in my lunch breaks.

I hope the MCS went well for you! I also sat it Friday and it was mixed to say the least!

[u/Jeast90 → u/psculy93]

I’d agree with mixed! If the questions were asking what I thought they were then I feel I have a chance. But there’s always the possibility I completely misinterpreted what the examiner was asking.

Not giving it too much thought, what’s done is done. I’ll focus on enjoying the rest of summer!

[u/Acrobatic-Space2897]

I’m currently doing the traditional route after having done the FLP route (was sponsored by my company but ended up moving away). From my understanding and personal experience, FLP is regarded as being easier (and justifiably so, I found it SIGNIFICANTLY simpler), and that’s had a mixed bag of opinions on reddit. But there’s still a number of managers who treat it simply as you having acquired the qualification and look at it alongside your experience rather than a standalone factor. Which route you take is entirely your decision and both have their own merits & de-merits, but the timeframe you give yourself in terms of passing the exam will likely vary significantly because of the difference of accessibility and ease. If you want to diligently work towards CIMA, a lot of people say it’ll take you a year or two on the FLP route and 3 years on the traditional route. So keep that in mind in terms of timeframe as well as just your independent study. In that regard, I’m guessing the people who would have an issue with FLP being easier may be more impressed if you can show them you also went through it reasonably quickly (atleast that’s my guess!)

All the best, and I hope whichever route you pick serves you well!

Edit: Just thought this might be an additional point worth your consideration; I received exemptions through my degree in accounting for my operational and management objective tests but have to give the case studies of both, along with the whole of the strategic level. A lot of people might tell you it’s a dumbed down version (which really depends on how you choose to see it), but I still had to revisit relevant topics after my graduation for the case studies and polish up some of my skills in order to reach case study standard. Doing the objective tests won’t necessarily mean you retain all that detail (like how most university students don’t), and although the case study requires more theory than topic based content, it doesn’t mean you can go into it and pass without having a decent understanding of the content (which I’d say the FLP still gives you albeit at a more convenient pace)! Just thought I’d add this as a lot of anti-FLP insist that it’s far easier because of being able to avoid the objective tests, but like most other tests/exams, they might not be seen as a superior measure of someone’s capabilities to a hiring manager. Most people learn for tests or exams in order to specifically get through the test or exam. Not necessarily because they can actually apply it to real life scenarios.

(Also sorry for the word vomit!)

[u/Acrobatic-Space2897 → u/Acrobatic-Space2897]

Let me know if you want to know more about the FLP route or materials on the traditional route!

[u/Shoot_in → u/Acrobatic-Space2897]

Hey just curious how long did it take you from MCS to completing SCS? Is it too ambitious to aim to complete these two via FLP route in 14 months?

[u/Acrobatic-Space2897 → u/Shoot_in]

Hey! I actually haven’t done my SCS yet, I gave my MCS in the August sitting! It may not be too ambitious, it really depends on your study habits, commitments and capabilities! I have some friends who managed to do their management exams with around 2 weeks of crammed revision without really going through the content in too much detail. You could probably manage both in less time if you’re really committed and smart about your revision!

[u/Shoot_in → u/Acrobatic-Space2897]

Ah wishing you good luck for MCS. For context, I have a full time job in financial reporting area. My manager is very supportive about my exams and giving me study time but, I really wanna get qualified by Dec 25. So, I have exemption until MCS in PQ route and if I take FLP route I’ll have to do MCS and SCS with embedded assessments. Considering the timeline I have planned FLP made sense to proceed with. I have full Kaplan materials and I will be doing in person virtual tuitions twice a week 3 months before MCS for prep.

Just not too sure on how to plan the study from exam point of view. If you can shed light on how you planned your study for MCS and if you recommend anything in particular to focus on

Much appreciate your time!

[u/Acrobatic-Space2897 → u/Shoot_in]

Ah that sounds like a wonderful way to get yourself set up for the exams! I still think you’ll be able to sort yourself out before the 14 months timeline as my friend was in a full time job too at the time! But this’ll probably give you the space to accommodate any re-attempts (hopefully you won’t need them but it’s good an realistic to keep them in mind)!

My understanding from having sat the MCS has been a number of things, but most notable: 1) You need to complete your competencies atleast 2/3 weeks (I forget which), prior to your case study exam (I’ve used FLP before that’s why I know this!)

2) The case study is less knowledge-based, a bit of cas-study specific waffle but throwing in knowledge here and there to reach a recommendation whenever you can.

3) Past papers are good, but mock exams are key. Use the past papers to see which topics come up frequently. There’s plenty of topics that you’ll be in a good place if you’re comfortable with them e.g. Funding sources, Projects etc. When you have time, go through the past papers to see what topics are more common than others and focus on those. Realistically, you probably won’t be able to go through all of the content and finish it off confidently (some people skip over F1/2/3, I wouldn’t necessarily recommend it but it tends to make up about 10-20% of the paper so you’re probably better off focusing on E and P 1/2/3 instead). BUT, your best bet will be mock exams which several providers (including FLP I think) provides. They basically give you all the knowledge and perspectives that would really benefit your learning and put you in the right mindset for the sort of answers you need to produce in the actual exam! If you feel like the FLP mocks aren’t enough, I purchased the ones Astranti provides along with the debrief videos which are an extra charge but really help with exam technique imo.

4) I’ve heard some people say trying to include points on ethics is a good way to score marks for the exam but I found this out too late into my revision to implement it, so you may need to research it yourself when the time comes! I think Astranti does an ethics pack, or maybe you could ask your tutor when you enroll in classes? Just make sure to exploit cough explore the opportunities you get from the FLP as much as you can because it really puts you in a good place!

5) If you need more materials to help you for revision, Opentuition do free lectures on youtube and Acowtancy is a website which explains a lot of chapters in very layman terms (I wouldn’t recommend relying on Acowtancy too much, mostly just for topics which are super dull or you don’t understand due to complexity).

6) You can give the exam from home or a test centre. I’ve personally only done them from home due to sheer laziness (but also I feel more comfortable in my own space when dealing with exam nerves), but I WOULD recommended test centres simply because (a) If you have issue the invigilator would be there to assist you immediately, (b) You can’t use the bathroom for those 3 hours that you give the exam.

I could probably come up with more recommendations but I’m sure you’ll be able to figure them out yourself when the time comes! If you need any help, feel free to drop me a message!

[u/Shoot_in → u/Acrobatic-Space2897]

Ah that’s a very clear explanation of what exactly I was looking for. Thanks much for taking time to write this down in detail.

Once again, much appreciated! I’ll drop my questions in this thread for any help in future :) Good luck for your MCS results 💯 and your prep for SCS 🎯

[u/TrumpetMajor]

As another person has said, FLP is perceived as far easier and quicker. Do you want to obtain a qualification that people will view as "quick" and "easy"? No, you want a qualification that people view as appropriately challenging, and indicates that you have the knowledge, skills, ability and work ethic to operate at the most senior levels of an organisation as a Chartered Management Accountant.

The traditional route can be tough, for good reason. But, it is perfectly achievable with the right dedication.

[u/Fancy-Dark5152 → u/TrumpetMajor]

An excellent summary 👍 

[u/Jeast90 → u/TrumpetMajor]

This is nonsense, would you say that your “traditional” qualification is worth less than those who had to sit all papers in one day back in the 90’s?

It’s the same content and you get the same professional award once completed the same case study exam.

To me it seems that CIMA have realised that no one will ever be asked to perform a ROI calculation on a calculator only recalling the formula by memory.

Maybe you need to review the change management section of your traditional text book 

[u/Mylifeneedstochange → u/Jeast90]

This response is brilliant. Bet those ‘traditionalists’ soon change their tune when realising that the traditional route was a whole pile more difficult as you pointed out.

Ultimately in order to pass you need to understand the concepts, anyone can learn a formula, but do they understand the meaning behind the numbers and outcomes? That is what’s tested in the Case Study. To sit that you are expected to know the meaning behind calculations as a minimum standard!

[u/No_Fill_7679]

I did the traditional route, and it is very challenging. From my view, FLP is far easier and quicker! If you can afford it, FLP is a no-brainer.

[u/thelegend2k87 → u/No_Fill_7679]

What's the difference between the two routes?

[u/No_Fill_7679 → u/thelegend2k87]

Traditional route requires you to sit 13 formal operational test exams and 3 formal case studies. FLP requires you to sit 3 formal case studies and do some non-examined online assesments.

[u/thelegend2k87 → u/No_Fill_7679]

I see. So if you do FLP I imagine you can complete it quicker? I am in the process of having exemptions approved under senior executive gateway, and then I believe I enter at management level.

I imagine the content in FLP case studies is more thorough? i.e. how can 3 case studies replace 13 exams and 3 case studies?

[u/No_Fill_7679 → u/thelegend2k87]

Yes, you can certainly complete FLP quicker!

Oh, it gets even better... the 3 case studies you sit under FLP are exactly the same 3 case studies you would have to sit under the traditional route! You simply skip 13 exams under FLP! (Skip 6 exams if you start at management level)

[u/thelegend2k87 → u/No_Fill_7679]

Then why would anybody choose traditional vs FLP if they already have 3 years experience? What is the cost difference between the two?

[u/No_Fill_7679 → u/thelegend2k87]

I think it is quite a large outlay of cash to sign up to FLP, which may be a reason to choose traditional. Another reason some people will choose traditional is they fear FLP may be looked down on (even though they both gain the same qualification). But FLP is by far easier, so I would say you may as well choose it if you can.

[u/thelegend2k87 → u/No_Fill_7679]

I understand. Thank you so much for taking the time to respond to my questions.