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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.
Difficulty in taking the CIMA Operational CIMA P1 Accounting
The CIMA CIMA P1 Management Accounting is a tricky little paper pass but it's one of the more interesting papers as it builds your knowledge of Management Accounting and the various concepts involved - and, after all, this is why we are studying for the CIMA qualification!
Over half (60%) of the CIMA P1 Management Accounting is concerned with;
- Short-Term Decision making
- Cost accounting systems
CIMA P1 practice exams can be a great way to prepare for this exam. With our experts, we produced the draft blueprints that provides a clearer direction on the approach to be taken in examinations.
What is the cost of CIMA Operational CIMA P1 Accounting?
CIMA Operational CIMA P1 Accounting costs GBP 425.
Reference: https://www.cimaglobal.com/Qualifications/Professional-Qualification/Operational-level/
Understanding function and technical aspects of Prepare information to support short-term decision-making
The following will be discussed in CIMA P1 exam dumps:
- Apply appropriate techniques that support short-term decision-making
- Apply appropriate techniques to deal with situations where there is risk and uncertainty
- Explain factors that could influence short-term decisions
- Prepare information to support operational decisions
- Identify relevant costs and benefits
CIMA CIMAPRO19-P01-1 Exam Overview:
| Certification Vendor: | Chartered Institute of Management Accountants (CIMA) |
|---|---|
| Exam Name: | Management Accounting |
| Exam Number: | P1 |
| Available Languages: | English |
| Exam Format: | Number entry questions, Drag-and-drop questions, Multiple response questions, Objective Test (multiple choice) |
| Related Certifications: | CIMA E1 CIMA F1 CIMA Diploma in Management Accounting Operational Case Study (OCS) |
| Real Exam Qty: | 60 |
| Exam Duration: | 90 minutes |
| Exam Price: | Varies by region (official exam fees charged by CIMA/Pearson VUE) |
| Passing Score: | Scaled 100/150 (approximately 67%) |
| Sample Questions: | CIMA CIMAPRO19-P01-1 Sample Questions |
| Exam Way: | Computer-based Objective Test at Pearson VUE test centres or on-demand online delivery (CIMA/Pearson VUE). |
| Pre Condition: | No formal prerequisite beyond CIMA student registration; exemption options may apply based on prior qualifications. |
| Official Syllabus URL: | https://www.aicpa-cima.com |
CIMA CIMAPRO19-P01-1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Cost Accounting for Decision and Control | 30% | - Costing methods (absorption, marginal, ABC, etc.) - Cost behaviour and cost classification - Cost information for planning and control |
| Topic 2: Short-Term Commercial Decision Making | 30% | - Relevant costing and decision criteria - Limiting factor and contribution analysis - Pricing and make-or-buy decisions |
| Topic 3: Dealing with Uncertainty in the Short Term | 15% | - Expected value and risk analysis - Decision trees and sensitivity analysis |
| Topic 4: Budgeting and Budgetary Control | 25% | - Budgetary control techniques - Types of budgets (flexible, rolling, cash, etc.) - Budget preparation and control |
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