CIMA P1 - Management Accounting

CIMA P1: Management Accounting

The CIMA P1 exam’s syllabus covers four main areas: costing, budgeting, short-term decision-making, and risk and uncertainty.

A. Cost accounting for decision and control: 30%
B. Budgeting and budgetary control: 25%
C. Short-term commercial decision-making: 30%
D. Risk and uncertainty in the short term: 15%

Our complete learning pack for CIMA P1 provides you with all the resources you need to pass your exam on your first attempt.

Lecture Videos

Comprehensive yet easy-to-understand lecture videos provide complete coverage of the exam syllabus.

Practice Question Videos

Videos for exam questions from practice kit and previous exam questions. Explanations are included for all answer.

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Course Curriculum

Demo Lectures
6 Lessons
- About the exam (10:29)
  Preview
- Cost classification and graphs
  Preview
- CGMA Cost Transformation Model
  Preview
- Marginal Costing vs Absorbtion and ABC
  Preview
- Relevant Costs
  Preview
- Labour Rate Variance (10:05)
  Preview
Chapter 1 - Costing
10 Lessons
- 1. What is Management Accounting
  Start
- 2. Role of Management Accountant
  Start
- 3. Costing Definitions
  Start
- 4. Cost classification and graphs
  Start
- 5. High-Low Method
  Start
- 6. Other Types of Costing Systems
  Start
- 7. CGMA Cost Transformation Model
  Start
- 8. Revision of Chapter 1
  Start
- Complete Study Notes
  Start
- Quiz - Costing
  Start
Chapter 2 - Full cost techniques
17 Lessons
- 1. How to Calculate Cost of a Unit
  Start
- 2. The Logics of Absorbtion costing
  Start
- 2.1. OAR Basic Example
  Start
- 2.2. Value of Closing Inventory
  Start
- 2.3. Different OAR Rates
  Start
- 3. Absorbtion. Reapportionment
  Start
- 4. Absorption Costing. Overview
  Start
- 5. Absorbtion Costing. Under- and Over-apsorption
  Start
- 6. Advantages and Disadvantages of Absorbtion Costing
  Start
- 7. ABC vs Absorbtion costing example
  Start
- 8. ABC Theory
  Start
- 9. Cost pools and cost drivers
  Start
- 10. ABC Benefits and drawbacks
  Start
- 11. Revision Chapter 2. part 1
  Start
- 12. Revision Chapter 2. part 2
  Start
- Complete Study Notes
  Start
- Quiz - Full Cost Techniques
  Start
Chapter 3 - Marginal cost techniques
26 Lessons
- 1. Marginal costing. Example
  Start
- 2. Marginal Costing PnL
  Start
- 3. Marginal Costing. Important definitions
  Start
- 4. Marginal Costing vs Absorbtion and ABC
  Start
- 4.1. Absorption Costing PL
  Start
- 4.2. Marginal Costing PL
  Start
- 5. Full Cost Pricing
  Start
- 5.1. Question Practice Full Cost Pricing
  Start
- 6. Marginal Cost Pricing
  Start
- 6.1. Marginal cost plus pricing
  Start
- 7. Profit margin vs Mark-up
  Start
- 8. Bottleneck logics
  Start
- 9. Throughput definitions
  Start
- 9.1. Question Practice Throughput Profit p1
  Start
- 9.2. Question Practice Throughput Profit p2
  Start
- 9.3. Question Practice Throughput Profit p3
  Start
- 10. The Logics of Throughput
  Start
- 11. Dealing with Constraints
  Start
- 11.1. Question Practice Bottleneck
  Start
- 11.2. Question Practice Maximising throughput
  Start
- 12. Measures in Throughput Accounting
  Start
- 13. Decisions Based on Throughput
  Start
- 13.1. Question Practice Decisions Based on Throughput
  Start
- 14. Revision Chapter 3
  Start
- Complete Study Notes
  Start
- Quiz - Marginal Cost Techniques
  Start
Chapter 4 - Rationale for budgets
10 Lessons
- 1. Rationale for Budgeting
  Start
- 2. Advantages and Disadvantages of Budgeting
  Start
- 3. Incremental Budgeting
  Start
- 4. ZBB
  Start
- 5. ZBB Advantages and Disadvantages
  Start
- 6. Rolling Budgets
  Start
- 7. ABB
  Start
- 8. Beyond Budgeting
  Start
- Complete Study Notes
  Start
- 8. Revision Chapter 4
  Start
Chapter 5 - Budgeting concepts
25 Lessons
- 1. Budgeting Concepts. Main definitions
  Start
- 2. Master Budget and Operational Budgets
  Start
- 3. Impact of Inventory
  Start
- 4. Cash Budget
  Start
- 4.1. Question Practice Cash Budget - Receipts
  Start
- 4.2. Question Practice Cash Budget - Payments
  Start
- 5. Forecasting. High-Low Method
  Start
- 6. Forecasting. Linear Regression
  Start
- 7. Types of Correlation
  Start
- 8. Coefficient of Correlation, Coefficient of Determination
  Start
- 9. Limitations of Linear Regression
  Start
- 10. Time Series Analysis
  Start
- 11. Advantages and Disadvantages of Time Series Analysis
  Start
- 12. Forecasting Problems
  Start
- 13. How to Improve Budgeting
  Start
- 13.1. Question Practice. How to Improve Budgeting. Sensitivity
  Start
- 13.2. Question Practice. How to Improve Budgeting. Stress Testing
  Start
- 14. Big Data
  Start
- 14.1. Big Data Example
  Start
- 15. The Use of Big Data
  Start
- 16.1 Revision Chapter 5, p1
  Start
- 16.2 Revision Chapter 5, p2
  Start
- 16.3 Revision Chapter 5, p3
  Start
- Complete Study Notes
  Start
- Quiz - Budgeting Concepts
  Start
Chapter 6 - Short - term decision making
21 Lessons
- 1. Absorption vs Marginal Costing in Decision Making
  Start
- 2. Relevant Costs
  Start
- 3. Non-Relevant Costs
  Start
- 4. Relevant Cost of Inventory
  Start
- 5. Relevant Cost of Labour
  Start
- 6. Relevant Cost of Machinery
  Start
- 7. Relevant Cost of Overheads
  Start
- 8. Accounting Principles and Decision Making
  Start
- 9. Accept vs Reject and Minimum Price
  Start
- 10. Make vs Buy
  Start
- 11. Make vs Buy - Other Factors
  Start
- 12. Cost to Discontinue
  Start
- 12.1. Cost to Discontinue p1
  Start
- 12.2. Cost to Discontinue p2
  Start
- 13. Further Processing Decisions
  Start
- 14. Short-Term Decisions. Other Factors
  Start
- 15.1 Revision Chapter 6 p1
  Start
- 15.2 Revision Chapter 6 p2
  Start
- 15.3 Revision Chapter 6 p3
  Start
- Complete Study Notes
  Start
- Quiz - Short Term Decision Making
  Start
Chapter 7 - Models for decision making
11 Lessons
- 1. CVP Cost Volume Profit Analysis (9:33)
  Start
- 2. Level of Activity Required (5:44)
  Start
- 3. Breakeven chart (8:09)
  Start
- 4. Multiproduct Breakeven (6:57)
  Start
- 5. Multiproduct Breakeven Chart (6:56)
  Start
- 6. Limitations of Breakeven Analysis (5:00)
  Start
- 7. The Use of Data and Technology (9:25)
  Start
- 8.1 Revision Chapter 7 p1
  Start
- 8.2 Revision Chapter 7 p2
  Start
- Complete Study Notes
  Start
- Quiz - Models for decision making
  Start
Chapter 8 - Limiting factor analysis
12 Lessons
- 1. Limiting Factor Analysis (16:28)
  Start
- 2. Shadow Price (3:44)
  Start
- 3. Throughput vs Limiting (13:37)
  Start
- 4. The Need for Linear Programming (7:09)
  Start
- 5. Graphs in Linear Programming (14:49)
  Start
- 6. Simultaneous Equations (5:30)
  Start
- 7. Sumaltaneous Equations and Shadow Price (9:29)
  Start
- 8. Assumptions and Limitations of Linear Programming (6:21)
  Start
- 9.1 Revision Chapter 8 p1
  Start
- 9.2 Revision Chapter 8 p2
  Start
- Complete Study Notes
  Start
- Quiz - Limiting factor analysis
  Start
Chapter 9 - Risk and uncertainty in decision making
15 Lessons
- 1. Risk and Uncertainty (16:16)
  Start
- 2. Types of Decision Makers (4:41)
  Start
- 3. Minimax Regret Rule (7:16)
  Start
- 4. Why Variability is Important (4:45)
  Start
- 5. Standard Deviation (3:50)
  Start
- 6. Coefficient of Variation (4:38)
  Start
- 7. Perfect Information (7:55)
  Start
- 8. Joint Probabilities (7:01)
  Start
- 9. Decision Trees (17:30)
  Start
- 10. Sensitivity Analysis Example (11:08)
  Start
- 11. Sensitivity Analysis Theory (3:46)
  Start
- 12. Sensitivity Analysis. Further Examples (15:29)
  Start
- 13. Other Techniques to Deal with Uncertainty (3:03)
  Start
- Complete Study Notes
  Start
- Quiz - Risk and uncertainty in decision making
  Start
Chapter 10 - Budgetary control
9 Lessons
- 1. Fixed vs Flexible vs Flexed Budgets (8:06)
  Start
- 2. Responsibility Accounting (11:25)
  Start
- 3. Controllable Costs (8:19)
  Start
- 4. Feedback Control (5:07)
  Start
- 5. Feedforward Control (3:51)
  Start
- 6. Behavioral Problems of Control - P1 (8:03)
  Start
- 7. Behavioral Problems of Control - P2 (13:11)
  Start
- Complete Study Notes
  Start
- Quiz - Chapter 10 - Budgetary control
  Start
Chapter 11 - Standard costing and variance analysis
30 Lessons
- 1. About Variance Analysis
  Start
- 2. Definitions
  Start
- 3. Standards
  Start
- 4. Impact of Inflation
  Start
- 5. Standards at NFPO and Serivce Companies
  Start
- 6. Important Notes on Variances
  Start
- 7. Material Variances (5:37)
  Start
- 8.1 Question Practice Material Variances - P1
  Start
- 8.2 Question Practice Material Variances - P2 (5:22)
  Start
- 9. Labour Rate Variance (10:05)
  Start
- 10. Labour Efficiency and Capacity Variance (11:44)
  Start
- 11. Variable OHD Variances (10:06)
  Start
- 12. Fixed OHD Variances (5:07)
  Start
- 13. Question Practice. Fixed OHD Variances (17:22)
  Start
- 14. Sales Variances (5:43)
  Start
- 15. Question Practice. Sales Variances (9:15)
  Start
- 16.1. Question Practice. Budget and Flexed Budget - P1 (13:38)
  Start
- 16.2. Question Practice. Actual and Variances - P2 (7:48)
  Start
- 16.3. Question Practice. Materials and Labour Variances - P3 (9:57)
  Start
- 16.4. Question Practice. Fixed and Variable OHD Variances - P4 (4:41)
  Start
- 16.5. Question Practice. Sales Variances and Overall Result - P5
  Start
- 17. Marginal Costing Operating Statement (6:23)
  Start
- 18.1. Question Practice. Fixed OHD Variances - P1 (13:45)
  Start
- 18.2. Question Practice. Sales Variances and Overall Result - P2 (6:05)
  Start
- 19. Absorption Costing Operating Statement (3:39)
  Start
- 20. Working Backwards (4:56)
  Start
- 21. Causes of the Variances
  Start
- 22. When to Investigate Variances
  Start
- Complete Study Notes
  Start
- Quiz - Standard costing and variance analysis
  Start
Chapter 12 - Further variance analysis
12 Lessons
- 1. Sales Volume Variance Analysis (6:57)
  Start
- 2. Sales Mix. Individual Units Method (7:26)
  Start
- 3. Sales Mix, Weighted Average Method (9:39)
  Start
- 4. Methods Comparison (4:53)
  Start
- 5. Sales Quantity Variance (7:57)
  Start
- 6. Sales Quantity Variance - Different Method (4:36)
  Start
- 7. Benefits of Sales Mix and Quantity Variances (8:32)
  Start
- 8. Planning Variances (5:02)
  Start
- 9. Planning Variances and Several Changes (6:41)
  Start
- 10. Benefits and Drawbacks of Planning Variances (3:57)
  Start
- Complete Study Notes
  Start
- Quiz - Further variance analysis
  Start

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CIMA P 1 - Performance Management

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