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