CIMA P1 Management Accounting

Name: CIMA P1 Management Accounting
Rating: 4.5 (40 reviews)

A complete course covering Management Accounting of CIMA Operational level subject P1

Created byHashan Bellanthuda

Last updated 1/2024

English

What you'll learn

Rationales for costing
Marginal and absorption costing
Activity based costing (ABC)
Standard costing and basic variance analysis
Advanced variances
Costing digital products and digital costing systems
Preparing budgets
Sensitivity, what-if analysis, stress testing, use of big data and approaches to budgeting
Forecasting techniques
Budgetary control
Relevant costing and decision making
Cost volume profit (CVP) analysis
Linear programming
Risk and uncertainty in the short term

Course content

4 sections • 132 lectures • 32h 9m total length

Tutorial 1 Part 1 - Introduction to Costing, FA vs CA vs MA20:18
Tutorial 1 Part 2 - CGMA Cost Transformation Model18:51
Tutorial 1 Part 3 - Costs by behaviour14:30
Tutorial 1 Part 4 - High Low method18:58
apply the high-low method to derive variable cost per unit and fixed cost from two activity levels, then estimate total cost for any output; highlight semi-variable costs and method flaws.
Tutorial 1 Part 5 - Costs by nature11:55
Tutorial 1 Part 6 - Discussion of TFQ 121:31
Tutorial 1 Part 7 - Discussion of TFQ 26:52
Tutorial 2 Part 1 - Introduction to Marginal Costing14:04
Tutorial 2 Part 2 - Discussion of TFQ 114:59
Tutorial 2 Part 3 - Introduction to Absorption Costing20:34
Learn absorption costing by valuing inventory with both variable and fixed production costs, using a budgeted fixed overhead rate to set per-unit cost and explore over/under absorption.
Tutorial 2 Part 4 - Discussion of TFQ 29:55
Tutorial 2 Part 5 - Reconciling MC & AC profit13:25
Tutorial 2 Part 6 - Advantages and Disadvantages of Absorption Costing13:18
Tutorial 2 Part Part 7 - Advantages and Disadvantages of Marginal Costing11:52
Tutorial 3 Part 1 - Relevance of ABC for the Modern Environment21:48
Tutorial 3 Part 2 - Cost Drivers12:33
Tutorial 3 Part 3 - Steps of ABC21:30
Tutorial 3 Part 4 - TFQ 118:36
Tutorial 3 Part 5 - Activities in ABC7:44
Tutorial 3 Part 6 - Suitability, Advantages and Disadvantages of ABC7:44
Tutorial 4 Part 1 - Introduction to Joint Product Costing16:33
Tutorial 4 Part 2 - TFQ 114:50
Tutorial 4 Part 3 - TFQ 26:08
Tutorial 4 Part 4 - Further Processing, TFQ 3 & TFQ 413:10
Tutorial 4 Part 5 - Throughput Accounting20:38
Tutorial 5 Part 1 - Introduction to Standard Costing15:02
Tutorial 5 Part 2 - Material Variances Calculations27:25
Tutorial 5 Part 3 - Material Variances Reasons7:54
Tutorial 5 Part 4 - Labour Variances Calculations26:24
Tutorial 5 Part 5 - Labour Variances Reasons9:39
Tutorial 5 Part 6 - Variable Overhead Variances12:53
Tutorial 5 Part 7 - Fixed Overhead Variances part 119:59
Tutorial 5 Part 8 - Fixed Overhead Variances part 29:28
Tutorial 5 Part 9 - Sales Variances Calculations6:27
Tutorial 5 Part 10 - Sales Variances Reasons6:56
Tutorial 5 Part 11 - Operating Statement and ABC Variances17:58
Tutorial 6 Part 1 - Planning and Operational Variances19:30
Tutorial 6 Part 2 - TFQ 1a and 1b12:36
Tutorial 6 Part 3 - TFQ 1c16:45
Tutorial 6 Part 4 - Advantages & Disadvantages + TFQ 216:31
Tutorial 6 Part 5 - Sales Mix & Sales Quantity Variances9:50
Tutorial 6 Part 6 - TFQ 514:51
Tutorial 6 Part 7 - Weighted Average Method10:32
Tutorial 6 Part 8 - TFQ 69:08
Tutorial 6 Part 9 - Advantages & Disadvantages6:49
Tutorial 7 Part 1 - Difficulties in Costing Digital Products16:17
Tutorial 7 Part 2 - Costs Incurred on Digital Products16:09
Tutorial 7 Part 3 - Introduction to Digital Costing Systems6:39
Tutorial 7 Part 4 - Features and Benefits of Digital Costing Systems22:27

Tutorial 8 Part 1 - Objectives of Budgeting12:16
Tutorial 8 Part 2 - Advantages and Disadvantages of Budgeting8:20
Tutorial 8 Part 3 - Budget preparation and difficulties for global companies13:02
Tutorial 8 Part 4 - Examples 1 and 210:12
Tutorial 8 Part 5 - Examples 3 and 411:42
Tutorial 8 Part 6 - TFQ 113:04
Tutorial 8 Part 7 - Cash Budget4:59
Tutorial 8 Part 8 - Examples 5 and 612:44
Tutorial 8 Part 9 - TFQ 214:06
Tutorial 9 Part 1 – Sensitivity Analysis10:08
Tutorial 9 Part 2 – What-if Analysis8:29
Tutorial 9 Part 3 – Stress Testing6:29
Tutorial 9 Part 4 - Causes of Stress and example11:41
Tutorial 9 Part 5 - Sources of Information for Budgets5:54
Tutorial 9 Part 6 - Big Data16:13
Tutorial 9 Part 7 - TFQ 18:46
Tutorial 9 Part 8 - Periodic vs Rolling Budgets19:17
Tutorial 9 Part 9 - Incremental Budgeting21:48
Tutorial 9 Part 10 - Zero Based Budgeting23:17
Tutorial 9 Part 11 - EFQs, Activity-based Budgeting and Beyond Budgeting21:32
Tutorial 10 Part 1 - High Low Method with Stepped Fixed Cost20:03
Explore the high-low method to separate variable and fixed costs, handle step fixed costs, and apply it to activity levels to forecast total cost with inflation adjustments.
Tutorial 10 Part 2 - Regression Analysis21:51
Tutorial 10 Part 3 - Adjusting Forecasts for Inflation16:11
Tutorial 10 Part 4 - Time Series Analysis - 4 factors16:22
Tutorial 10 Part 5 - Calculation of Trend and Seasonal Variations16:22
Tutorial 10 Part 6 - Example 5, TFQ 1, TFQ 2 and TFQ 322:14
Tutorial 10 Part 7 - Moving Averages25:41
Tutorial 10 Part 8 - EFQ 2 to 816:40
Tutorial 11 Part 1 - Feedback vs Feedforward Control19:50
Tutorial 11 Part 2 - Control Reports for Feedback and Feedforward6:20
Tutorial 11 Part 3 - Flexed budgets and budgetary control reports16:05
Tutorial 11 Part 4 - Responsibility accounting18:25
Tutorial 11 Part 5 - Top-down vs Bottom-up Budgeting10:27
Tutorial 11 Part 6 - TFQ 110:40
Tutorial 11 Part 7 - Behavioural Aspects of Budgeting21:57
Tutorial 11 Part 8 - Ethical Aspects of Budgeting and TFQ 212:57

Tutorial 12 Part 1 - Relevant Costs17:04
Tutorial 12 Part 2 - Non-relevant Costs + TFQ 113:33
Tutorial 12 Part 3 - Relevant Cost of Material19:40
Tutorial 12 Part 4 - TFQs 2 and 37:12
Tutorial 12 Part 5 - Relevant Cost of Labour + TFQs 4 and 514:34
Tutorial 12 Part 6 - Relevant Cost of Overheads + TFQ 63:35
Tutorial 12 Part 7 - Relevant Cost of Non-current Assets + TFQ 73:49
Tutorial 12 Part 8 - TFQ 821:44
Tutorial 12 Part 9 - Single Limiting Factor + TFQ 924:46
Tutorial 12 Part 10 - Single Limiting Factor with Contracts + TFQ 1019:04
Tutorial 12 Part 11 - Make vs Buy Decisions + EFQ 512:58
Tutorial 12 Part 12 - Make vs Buy Decisions with Limiting Factors + TFQ 1218:24
Tutorial 12 Part 13 - Continue vs Shutdown Decisions + TFQ 1319:28
Tutorial 12 Part 14 - Qualitative Factors in Decision Making4:15
Tutorial 13 Part 1 - CS ratio, BEP in Units and Sales Revenue15:46
Tutorial 13 Part 2 - Target Profit and Margin of Safety12:20
Calculate target profit and margin of safety using fixed costs and contribution per unit, determine required units and revenue, and assess risk through budgeted sales versus break-even.
Tutorial 13 Part 3 - TFQ 114:52
Tutorial 13 Part 4 - TFQ 27:10
Tutorial 13 Part 5 - Types of Break-even Charts6:46
Tutorial 13 Part 6 - Operational Gearing19:30
Tutorial 13 Part 7 - Multi-product BEP in Units and Revenue13:27
Tutorial 13 Part 8 - TFQ 4 and 5(a)15:14
Tutorial 13 Part 9 - TFQ 5(b) and (c)16:54
Tutorial 13 Part 10 - EFQ 3 to 1321:40
Tutorial 14 Part 1 - Equations for Constraints19:57
Tutorial 14 Part 2 - Steps 1 to 3 of Linear Programming13:40
Tutorial 14 Part 3 - Steps 4 and 5 of Linear Programming20:32
Tutorial 14 Part 4 - Scarce Resources and Slack Resources9:41
Tutorial 14 Part 5 - Shadow Price17:41
Tutorial 14 Part 6 - TFQ 18:30
Formulate a linear programming problem for alpha and beta, maximizing an $8 per unit contribution while honoring material a, material b, and labor constraints after satisfying a 20-unit contract.
Tutorial 14 Part 7 - TFQ 213:32
Tutorial 14 Part 8 - TFQ 313:27
Use graphical linear programming to determine an optimal production plan under a 10% lower resource availability, balancing contract minimums and maximum demands for r and t, with direct labor binding.
Tutorial 14 Part 9 - Limitations of Linear Programming10:12
Tutorial 14 Part 10 - EFQ 1 to 915:34

Tutorial 15 Part 1 - Expected Value18:20
Tutorial 15 Part 2 - Standard Deviation and Risk Attitudes17:30
Tutorial 15 Part 3 - Coefficient of Variation and Normal Distribution8:33
Tutorial 15 Part 4 - Utility Theory and Payoff Tables23:00
Tutorial 15 Part 5 - Risk Attitudes I11:10
Explore risk attitudes in management accounting, covering risk neutral, risk taking, and risk averse mindsets, and decision models like expected value, maximin, and minimax regret.
Tutorial 15 Part 6 - Risk Attitudes II20:28
Tutorial 15 Part 7 - TFQ 416:48
Tutorial 15 Part 8 - TFQ 5, 6 and 78:33
Tutorial 15 Part 9 - Joint Probabilities14:33
Tutorial 15 Part 10 - TFQ 8 and 911:18
Tutorial 15 Part 11 - Value of Information22:56
Tutorial 15 Part 12 - Decision Trees13:08
Tutorial 15 Part 13 - Sensitivity Analysis19:45

Requirements

Should ideally have knowledge in CIMA BA2 (Fundamentals of Management Accounting) or equivalent module

Description

"Mastering CIMA P1"

Description: Unlock the key to strategic success in business with our comprehensive CIMA P1 course - your gateway to mastering Management Accounting. Designed for both aspiring management accountants and seasoned professionals, this Udemy course goes beyond the basics, offering a deep dive into the intricacies of performance management and its pivotal role in strategic decision-making.

Why Choose This Course?

Our CIMA P1 course is meticulously crafted to exceed your expectations. Led by industry experts, we break down complex concepts, providing practical insights and real-world applications. From cost management and budgeting to performance measurement and risk management, each module is presented in a clear, accessible manner, ensuring a thorough understanding of the subject matter.

What You Will Learn:

Cost accounting for decision and control

Budgeting and budgetary control

Short-term commercial decision-making

Risk and uncertainty in the short term

Who Should Enroll?

Whether you're a CIMA aspirant, finance professional, or a business enthusiast, this course is tailored to enhance your knowledge and skills.

Learn with Us?

Our commitment is not just to teach the subject but to empower you with the knowledge and skills needed for real-world success.

Don't just study CIMA P1; excel in it! Enroll now and take the first step towards becoming a strategic financial leader.

Who this course is for:

CIMA operational level students
Anyone interested in studying management accounting for the operational level

CIMA P1 Management Accounting

What you'll learn

Explore related topics

Course content

P1A: Cost accounting for decision and control49 lectures • 11hr 50min

P1B: Budgeting and Budgetary Control36 lectures • 8hr 46min

P1C: Short Term Commercial Decision Making34 lectures • 8hr 7min

P1D: Dealing with Uncertainty in the Short term13 lectures • 3hr 26min

Requirements

Description

Who this course is for: