Cima P1 Management Accounting

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

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

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 controlBudgeting and budgetary controlShort-term commercial decision-makingRisk and uncertainty in the short termWho 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.

Overview

Section 1: P1A: Cost accounting for decision and control

Lecture 1 Tutorial 1 Part 1 - Introduction to Costing, FA vs CA vs MA

Lecture 2 Tutorial 1 Part 2 - CGMA Cost Transformation Model

Lecture 3 Tutorial 1 Part 3 - Costs by behaviour

Lecture 4 Tutorial 1 Part 4 - High Low method

Lecture 5 Tutorial 1 Part 5 - Costs by nature

Lecture 6 Tutorial 1 Part 6 - Discussion of TFQ 1

Lecture 7 Tutorial 1 Part 7 - Discussion of TFQ 2

Lecture 8 Tutorial 2 Part 1 - Introduction to Marginal Costing

Lecture 9 Tutorial 2 Part 2 - Discussion of TFQ 1

Lecture 10 Tutorial 2 Part 3 - Introduction to Absorption Costing

Lecture 11 Tutorial 2 Part 4 - Discussion of TFQ 2

Lecture 12 Tutorial 2 Part 5 - Reconciling MC & AC profit

Lecture 13 Tutorial 2 Part 6 - Advantages and Disadvantages of Absorption Costing

Lecture 14 Tutorial 2 Part Part 7 - Advantages and Disadvantages of Marginal Costing

Lecture 15 Tutorial 3 Part 1 - Relevance of ABC for the Modern Environment

Lecture 16 Tutorial 3 Part 2 - Cost Drivers

Lecture 17 Tutorial 3 Part 3 - Steps of ABC

Lecture 18 Tutorial 3 Part 4 - TFQ 1

Lecture 19 Tutorial 3 Part 5 - Activities in ABC

Lecture 20 Tutorial 3 Part 6 - Suitability, Advantages and Disadvantages of ABC

Lecture 21 Tutorial 4 Part 1 - Introduction to Joint Product Costing

Lecture 22 Tutorial 4 Part 2 - TFQ 1

Lecture 23 Tutorial 4 Part 3 - TFQ 2

Lecture 24 Tutorial 4 Part 4 - Further Processing, TFQ 3 & TFQ 4

Lecture 25 Tutorial 4 Part 5 - Throughput Accounting

Lecture 26 Tutorial 5 Part 1 - Introduction to Standard Costing

Lecture 27 Tutorial 5 Part 2 - Material Variances Calculations

Lecture 28 Tutorial 5 Part 3 - Material Variances Reasons

Lecture 29 Tutorial 5 Part 4 - Labour Variances Calculations

Lecture 30 Tutorial 5 Part 5 - Labour Variances Reasons

Lecture 31 Tutorial 5 Part 6 - Variable Overhead Variances

Lecture 32 Tutorial 5 Part 7 - Fixed Overhead Variances part 1

Lecture 33 Tutorial 5 Part 8 - Fixed Overhead Variances part 2

Lecture 34 Tutorial 5 Part 9 - Sales Variances Calculations

Lecture 35 Tutorial 5 Part 10 - Sales Variances Reasons

Lecture 36 Tutorial 5 Part 11 - Operating Statement and ABC Variances

Lecture 37 Tutorial 6 Part 1 - Planning and Operational Variances

Lecture 38 Tutorial 6 Part 2 - TFQ 1a and 1b

Lecture 39 Tutorial 6 Part 3 - TFQ 1c

Lecture 40 Tutorial 6 Part 4 - Advantages & Disadvantages + TFQ 2

Lecture 41 Tutorial 6 Part 5 - Sales Mix & Sales Quantity Variances

Lecture 42 Tutorial 6 Part 6 - TFQ 5

Lecture 43 Tutorial 6 Part 7 - Weighted Average Method

Lecture 44 Tutorial 6 Part 8 - TFQ 6

Lecture 45 Tutorial 6 Part 9 - Advantages & Disadvantages

Lecture 46 Tutorial 7 Part 1 - Difficulties in Costing Digital Products

Lecture 47 Tutorial 7 Part 2 - Costs Incurred on Digital Products

Lecture 48 Tutorial 7 Part 3 - Introduction to Digital Costing Systems

Lecture 49 Tutorial 7 Part 4 - Features and Benefits of Digital Costing Systems

Section 2: P1B: Budgeting and Budgetary Control

Lecture 50 Tutorial 8 Part 1 - Objectives of Budgeting

Lecture 51 Tutorial 8 Part 2 - Advantages and Disadvantages of Budgeting

Lecture 52 Tutorial 8 Part 3 - Budget preparation and difficulties for global companies

Lecture 53 Tutorial 8 Part 4 - Examples 1 and 2

Lecture 54 Tutorial 8 Part 5 - Examples 3 and 4

Lecture 55 Tutorial 8 Part 6 - TFQ 1

Lecture 56 Tutorial 8 Part 7 - Cash Budget

Lecture 57 Tutorial 8 Part 8 - Examples 5 and 6

Lecture 58 Tutorial 8 Part 9 - TFQ 2

Lecture 59 Tutorial 9 Part 1 – Sensitivity Analysis

Lecture 60 Tutorial 9 Part 2 – What-if Analysis

Lecture 61 Tutorial 9 Part 3 – Stress Testing

Lecture 62 Tutorial 9 Part 4 - Causes of Stress and example

Lecture 63 Tutorial 9 Part 5 - Sources of Information for Budgets

Lecture 64 Tutorial 9 Part 6 - Big Data

Lecture 65 Tutorial 9 Part 7 - TFQ 1

Lecture 66 Tutorial 9 Part 8 - Periodic vs Rolling Budgets

Lecture 67 Tutorial 9 Part 9 - Incremental Budgeting

Lecture 68 Tutorial 9 Part 10 - Zero Based Budgeting

Lecture 69 Tutorial 9 Part 11 - EFQs, Activity-based Budgeting and Beyond Budgeting

Lecture 70 Tutorial 10 Part 1 - High Low Method with Stepped Fixed Cost

Lecture 71 Tutorial 10 Part 2 - Regression Analysis

Lecture 72 Tutorial 10 Part 3 - Adjusting Forecasts for Inflation

Lecture 73 Tutorial 10 Part 4 - Time Series Analysis - 4 factors

Lecture 74 Tutorial 10 Part 5 - Calculation of Trend and Seasonal Variations

Lecture 75 Tutorial 10 Part 6 - Example 5, TFQ 1, TFQ 2 and TFQ 3

Lecture 76 Tutorial 10 Part 7 - Moving Averages

Lecture 77 Tutorial 10 Part 8 - EFQ 2 to 8

Lecture 78 Tutorial 11 Part 1 - Feedback vs Feedforward Control

Lecture 79 Tutorial 11 Part 2 - Control Reports for Feedback and Feedforward

Lecture 80 Tutorial 11 Part 3 - Flexed budgets and budgetary control reports

Lecture 81 Tutorial 11 Part 4 - Responsibility accounting

Lecture 82 Tutorial 11 Part 5 - Top-down vs Bottom-up Budgeting

Lecture 83 Tutorial 11 Part 6 - TFQ 1

Lecture 84 Tutorial 11 Part 7 - Behavioural Aspects of Budgeting

Lecture 85 Tutorial 11 Part 8 - Ethical Aspects of Budgeting and TFQ 2

Section 3: P1C: Short Term Commercial Decision Making

Lecture 86 Tutorial 12 Part 1 - Relevant Costs

Lecture 87 Tutorial 12 Part 2 - Non-relevant Costs + TFQ 1

Lecture 88 Tutorial 12 Part 3 - Relevant Cost of Material

Lecture 89 Tutorial 12 Part 4 - TFQs 2 and 3

Lecture 90 Tutorial 12 Part 5 - Relevant Cost of Labour + TFQs 4 and 5

Lecture 91 Tutorial 12 Part 6 - Relevant Cost of Overheads + TFQ 6

Lecture 92 Tutorial 12 Part 7 - Relevant Cost of Non-current Assets + TFQ 7

Lecture 93 Tutorial 12 Part 8 - TFQ 8

Lecture 94 Tutorial 12 Part 9 - Single Limiting Factor + TFQ 9

Lecture 95 Tutorial 12 Part 10 - Single Limiting Factor with Contracts + TFQ 10

Lecture 96 Tutorial 12 Part 11 - Make vs Buy Decisions + EFQ 5

Lecture 97 Tutorial 12 Part 12 - Make vs Buy Decisions with Limiting Factors + TFQ 12

Lecture 98 Tutorial 12 Part 13 - Continue vs Shutdown Decisions + TFQ 13

Lecture 99 Tutorial 12 Part 14 - Qualitative Factors in Decision Making

Lecture 100 Tutorial 13 Part 1 - CS ratio, BEP in Units and Sales Revenue

Lecture 101 Tutorial 13 Part 2 - Target Profit and Margin of Safety

Lecture 102 Tutorial 13 Part 3 - TFQ 1

Lecture 103 Tutorial 13 Part 4 - TFQ 2

Lecture 104 Tutorial 13 Part 5 - Types of Break-even Charts

Lecture 105 Tutorial 13 Part 6 - Operational Gearing

Lecture 106 Tutorial 13 Part 7 - Multi-product BEP in Units and Revenue

Lecture 107 Tutorial 13 Part 8 - TFQ 4 and 5(a)

Lecture 108 Tutorial 13 Part 9 - TFQ 5(b) and ©

Lecture 109 Tutorial 13 Part 10 - EFQ 3 to 13

Lecture 110 Tutorial 14 Part 1 - Equations for Constraints

Lecture 111 Tutorial 14 Part 2 - Steps 1 to 3 of Linear Programming

Lecture 112 Tutorial 14 Part 3 - Steps 4 and 5 of Linear Programming

Lecture 113 Tutorial 14 Part 4 - Scarce Resources and Slack Resources

Lecture 114 Tutorial 14 Part 5 - Shadow Price

Lecture 115 Tutorial 14 Part 6 - TFQ 1

Lecture 116 Tutorial 14 Part 7 - TFQ 2

Lecture 117 Tutorial 14 Part 8 - TFQ 3

Lecture 118 Tutorial 14 Part 9 - Limitations of Linear Programming

Lecture 119 Tutorial 14 Part 10 - EFQ 1 to 9

Section 4: P1D: Dealing with Uncertainty in the Short term

Lecture 120 Tutorial 15 Part 1 - Expected Value

Lecture 121 Tutorial 15 Part 2 - Standard Deviation and Risk Attitudes

Lecture 122 Tutorial 15 Part 3 - Coefficient of Variation and Normal Distribution

Lecture 123 Tutorial 15 Part 4 - Utility Theory and Payoff Tables

Lecture 124 Tutorial 15 Part 5 - Risk Attitudes I

Lecture 125 Tutorial 15 Part 6 - Risk Attitudes II

Lecture 126 Tutorial 15 Part 7 - TFQ 4

Lecture 127 Tutorial 15 Part 8 - TFQ 5, 6 and 7

Lecture 128 Tutorial 15 Part 9 - Joint Probabilities

Lecture 129 Tutorial 15 Part 10 - TFQ 8 and 9

Lecture 130 Tutorial 15 Part 11 - Value of Information

Lecture 131 Tutorial 15 Part 12 - Decision Trees

Lecture 132 Tutorial 15 Part 13 - Sensitivity Analysis

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