CIMA Professional Qualification - Management Accounting module P1

The CIMA Professional Qualification is recognised worldwide as the most relevant global finance qualification for a career in business and finance. In the Management Accounting module P1, you will examine why costing is done and what it is used for. You will be introduced to the basic building blocks of costing and how to apply them in the costing methods that businesses use. This is one of the 12 modules you need to complete in order to achieve the CIMA Professional qualification. By successfully completing the Management Accounting P1 exam, you will be one step closer to achieving the CIMA Professional Qualification. On completion of the CIMA Professional Qualification, you will be awarded the Chartered Global Management Accountant (CGMA) designation. This showcases your professionalism, business and leadership skills, ethics, and commitment. It is ideal for:

• Students who want to develop their accounting and finance knowledge.
• Those aspiring to work or progress their career in accounting, finance, or bookkeeping.

Future career options:

• Chartered accountant
• Finance manager
• Management accountant
• External auditor
• Forensic accountant
• Stockbroker
• Internal auditor
• Business analyst

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Course Content

Cost accounting for decision and control

• Different rationales for costing
• Costing concepts and objects
• Applying costing methods to determine the costs for different purposes

Budgeting and budgetary control

• Different rationales for budgeting
• Preparing budgets
• The concept of budgeting control

Short-term commercial decision making

• Main types of short-term decisions made by organisations
• Underlying concepts used for short-term decision making
• Techniques to support short-term decisions

Risk and uncertainty in the short-term

• Applying basic risk management tools