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Management Accounting - P1

Access Duration - 365 Days
Awarded By Awarded By "CIMA"
Guided Learning Hour 10 Guided Learning Hours (10)
Course Material Course Material
Number of Modules 01 Number of Modules 01
4.4( 8 REVIEWS )
74 STUDENTS

Awarded by

Trust Pilot rating with 1691 reviews
Buy Now - £59.00
£ 59.00
 

What Will I Learn?

Learn about costing methods and techniques, why costing is done and where digital costing can be applied.
Why it is important to collect data and upon eUnderstand budgets, how they are prepared and implemented within an organisation. What is the impact of budgets? xamination learn how it creates value for the organisation.
Understand the types of short-term decisions made by an organisation, and learn the techniques to support these short-term decisions
Learn to apply risk management tools in the short term decision making process

Overview

This unit Management Accounting (P1) which is part of CIMA qualification in diploma in Management Accounting provides you an in-depth understanding of the management activities and principles associated with Accounting. Costing factors as well as risks and uncertainties engrained in accounting entities are covered with this course P1.

With Management being one of the key components in accounting arena you will learn all the skills necessary to not just pass the exam but also the skills and knowledge required for hands on industrial experience in the work place.

As this is the final unit to your pathway to CIMA qualification in diploma in Management Accounting you are one step away from the final qualification.

With our 100% support we can assure you that you will successfully complete this unit Management Accounting (P1) as well as the certification.

Who is the CIMA Operational Level for?

  • School leavers
  • Students or members of other professional bodies
  • Undergraduates and graduates
  • Anyone with an interest in pursuing a career in management accountancy

Entry Requirement

  • CIMA certificate in Business Accounting, degrees in business or accounting or AAT Technician/Diploma level [level 4]
  • Why Choose Global Edulink?
  • Syllabus Structure
  • Assessment
  • Exam Details
  • Certification
  • Career Path
  • Excellent pass rate
  • Dedicated panel of instructors
  • High rate of passing for first-time students
  • Cost Accounting for decision and control
  • Budgeting and budgetary control
  • Short term commercial decision making
  • Risk and uncertainty in the short term

This is an objective test. The objective test must be passed in order for learners to complete the syllabus module. Additionally, learners who wish to progress to the CIMA Operational Level qualification should also successfully pass this test.

The objective test must be passed before the learner books the case study exam.

This is an entry level finance exam that will allow the learner to demonstrate if they have acquired the relevant skills, techniques and knowledge to be displayed in that role. The exam will comprise of a computer-based objective test and 1 case study exam.

 Objective Test

  • Format – Computer-Based
  • Duration – 90 Minutes
  • Results – Provisional results available followed by confirmation within 48 hours

(A score out of 150 is given, with 100 representing a Pass)

Operational level objective tests -  GBP110 (Tier 1 per exam)

Please Note : Official Exam is not provided, It should be purchased separately

Please note that the prices are subject to change by the The Chartered Institute of Management Accountants (CIMA) at any given time. The above price mentioned per objective test are at the time of writing only. You may check with the official CIMA website for latest updates in prices. https://www.cimaglobal.com/Starting-CIMA/Starting-CIMA/Fees/
Upon the successful completion of the unit Management Accounting - P1, learners can advance to the next unit of the Certificate in Business Accounting (CIMA Cert BA) Or If the learner has already completed other units, can apply to the final exam of Diploma in Management Accounting (CIMA Dip MA).

Upon completing this module syllabus, you will be one step closer to having a career in business and finance. While this module does not give you direct access to gain employment, you have the opportunity to take the rest of the modules in the CIMA Operational Level Certificate. A career in management accounting is waiting for you, and will provide a clear path to progress in your desired employment. Companies worldwide, irrespective of their size require the services and knowledge of management accountants. Management Accountants are marketable across multiple industries.

Management Accountant https://www.payscale.com/research/UK/Job=Management_Accountant/Salary

Course Curriculum

P1: Management Accounting
P1: Management Accounting
Chapter 1 - Accounting For Management
Introduction
The Definition Of Management Accounting
Objectives Of Management Accounting
Nature And Scope Of Management Accounting
Limitations Of Management Accounting
The Global Management Accounting Principles
Data And Information
What Makes Good Information?
The Main Managerial Processes
The Different Levels Of Planning
Comparison Of Management Accounting With Financial Accounting
Chapter 2 - Cost Classification And Behaviour
Cost Classification
Cost Behaviours
Chapter 3 - Semi Variable Costs
High-Low Method
Regression
The Correlation Coefficient
Coefficient Of Determination
Chapter 4 - Accounting For Overheads
Introduction
Absorption Of Overheads
Reapportionment Of Service Cost Centre Overheads
Chapter 5 - Absorption Costing
Introduction
Absorption Costing Income Statement
The Effect Of Absorption And Marginal Costing On Inventory Valuation And Profit Determination
Calculation Of Fixed Manufacturing Overhead Absorption Rate (OAR)
Chapter 6 - Marginal Costing
Introduction
The Contribution Concept
Chapter 7 - Activity Based Costing
Introduction
ABC Cost Hierarchy
Strengths / Weaknesses Of ABC Costing
Chapter 8 - Limiting Factor Analysis And Throughput Accounting
Limited Factor Analysis
Six-Step Approach
Limitations
Theory Of Constraints And Throughput
Throughput Accounting
Formula And Ratios
TPAR –Throughput Accounting Ratio
Benefits And Drawbacks
Chapter 9 - Joint Product Costing
Definition And Meaning Of Joint Products
Accounting Treatment For Joint Products
Accounting Treatment For By-Products
Physical Unit Basis
Market Value Basis
Net-Realisable Value Approach
Chapter 10 - Other Costing Issues
Introduction
Costing Of Digital Products
CGMA’s Cost Transformation Model
Digital Costing Systems
Chapter 11 - Linear Programming
Introduction
Linear Programming
Slack
Shadow (Or Dual) Prices
Chapter 12 - Standard Costing And Basic Variance Analysis
Introduction
Standard Costs
Uses Of Standard Costing
Limitations Of Standard Costing
McDonaldisation
Variance Analysis
Analysis Of Variances
Chapter 13 - Advanced Variances
Introduction
Planning And Operational Variances
Sales Mix Variances
Activity Based Costing Variances
Chapter 14 - Budgeting
Introduction
Functional Budgets
Cash Budget
Fixed Budget
Flexible Budget
Flexed Budget
Behavioral Aspects
Methods Of Budgeting
Budgeting In A Digital Age
Chapter 15 - Forecasting Techniques
Introduction
Semi Variable Costs
High-Low Method
Regression Analysis
Time Series Analysis
Chapter 16 - Risk And Uncertainty
Introduction
Risk Vs. Uncertainty
Risk Profiles
Decision Making Techniques (Risk And Uncertainty)
Expected Values
Decision Rules
Decision Trees
Sensitivity Analysis
Standard Deviation
Chapter 17 - Relevant Costing
Introduction
Relevant Costing
Relevant Costs And Irrelevant Costs
Shutdown Problems
Make Or Buy Decisions
Chapter 18 - Cost Volume Profit Analysis
Introduction
Components Of Break-Even Analysis
Calculation Of Break-Even Analysis
Margin Of Safety
Contribution To Sales Ratio
Target Profit
Break-Even Chart
Profit-Volume Chart
Multi Product CVP Analysis
Limitations of CVP Analysis

Students feedback

4.4

Average rating (8)
4.4
5 Star
4 Star
3 Star
2 Star
1 Star
    J P

    Jody Powell

    July 04, 2020
    Wonderful

    This course was wonderfully thought out and very well organised. The examples are all very well laid out to help you further understand this course. The quizzes were simple, but they did help reinforce the information taught in each module.

    A C

    Aiden Cole

    July 03, 2020
    Practical course

    I really liked this course. Although I have had exposure to these topics in the past I really enjoyed the teaching style, the clarity with which the topics were presented, and the practical applications. The course allowed me to learn new and polish existing knowledge on the topic.

    L H

    Logan Harrison

    June 21, 2020
    Good course

    This is a good course for all of them who wish to work in this field and are unable to do so because of lack of core knowledge. The course helps to build this fundamental conceptual knowledge. I think this course will help professionals and students from a variety of fields

    G M

    Gabe Murray

    May 30, 2020
    Easy to follow

    Very easy to follow.

    F F

    Fran Fraser

    May 24, 2020
    Well designed

    The course was very well designed with many examples to explain the important concepts. It was very helpful in broadening my knowledge.

    T F

    Tyler Fisher

    May 12, 2020
    Concise

    Meaningful and concise information presented in an easy to learn manner. I really appreciate how well put together this program is.

    L S

    Lane Sutton

    May 04, 2020
    Brilliant

    It was a brilliant experience.

    B J

    Blake Johnston

    April 12, 2020
    Outstanding tutoring

    The tutor was outstanding and I learned a great deal by taking this course. The material was expansive and the instructions I received helped me gain the desired results.

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