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CIMA P1 Practice Q&A's

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Introduction to CIMA Operational CIMA P1 Accounting

CIMA Operational is the first level of the CIMA Professional qualification. After completing this level you can progress onto the Management level, then complete the Strategic level to become a chartered management accountant. You will need to have completed CIMA Certificate, AAT Professional (Level 4), or have an accountancy or finance degree.

The purpose of the CIMA P1 exam dumps is to spotlight areas of student difficulty, so that remedial measures can be taken before the chances for success are impaired. The CIMA Operational CIMA P1 Accounting is generally given by students who are interested in accounting and finance.

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Understanding function and technical aspects of Analyse performance using financial and nonfinancial information

The following will be discussed in CIMA P1 exam dumps:

  • Prepare performance reports for use by different functions and for different purposes in appropriate formats and media
  • Identify information that can enable managers to review performance
  • Interpret variances to review functional and organisational performance
  • Identify appropriate KPIs for different functions of the organisation
  • Explain company performance using KPIs

Reference: https://www.cimaglobal.com/Qualifications/Professional-Qualification/Operational-level/

CIMA P1 Exam Syllabus Topics:

SectionObjectives
Topic 1: Risk and Uncertainty in Decision Making- Risk evaluation methods
  • 1. Sensitivity analysis
    • 2. Expected values
      Topic 2: Budgeting and Management Control- Budget preparation
      • 1. Cash budgets
        • 2. Functional budgets
          - Budgetary control systems
          • 1. Flexible budgeting
            • 2. Variance analysis basics
              Topic 3: Short-term Decision Making- Decision techniques
              • 1. Limiting factor analysis
                • 2. Make or buy decisions
                  - Relevant costing principles
                  • 1. Opportunity cost analysis
                    • 2. Relevant vs irrelevant costs
                      Topic 4: Cost Accounting for Decision and Control- Cost classification and behavior
                      • 1. Cost estimation techniques
                        • 2. Fixed, variable, and semi-variable costs
                          - Costing systems
                          • 1. Absorption vs marginal costing
                            • 2. Activity-based costing (ABC)
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