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CIMA P1 Exam Syllabus Topics:
| Topic | Details |
|---|
| Topic 1 | - Understand the impact of individuals’ risk attitudes on decision-making in the short term
- Understand the difference between direct costs and indirect costs
|
| Topic 2 | - Determine the activity that causes the change in cost
- Understand the difference between variable costs and fixed costs
|
| Topic 3 | - Calculate revenue and cost estimates using quantitative analyses
- Calculate and interpret overall flexed budget variances
|
| Topic 4 | - Calculate subdivision of total usage
- efficiency variances into mix and yield variances
- Use material, labour, variable overhead, fixed overhead and sales variances
|
| Topic 5 | - Calculate the breakeven point and output level required to meet income targets
- Understand costing and the different reasons for calculating costs
|
| Topic 6 | - Establish manufacturing standards for material, labour, variable overhead and fixed overhead
- Understand the difference between financial accounting and cost accounting
|
| Topic 7 | - Determine causality in cost function estimates and impact on budgets
- Identify inventory costs and period costs
|
| Topic 8 | - Understand relevant cash flows and non-financial factors and how it affects make or buy decisions
- Understand the strategic implications of short-term decision-making
|
| Topic 9 | - Understand relevant cash flows and their use in pricing decisions
- Calculate the costs for products or services using activity-based costing
|
Reference: https://www.cimaglobal.com/Qualifications/Professional-Qualification/Operational-level/
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;
- Cost accounting systems
- Short-Term Decision making
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.