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Understanding function and technical aspects of Prepare information to support short-term decision-making
The following will be discussed in CIMA P1 exam dumps:
- Prepare information to support operational decisions
- Explain factors that could influence short-term decisions
- Apply appropriate techniques that support short-term decision-making
- Identify relevant costs and benefits
- Apply appropriate techniques to deal with situations where there is risk and uncertainty
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Benefits of Getting the CIMA Operational CIMA P1 Accounting
The CIMA Professional Qualification is divided into three levels - Operational, Management and Strategic. Each of these levels consists of three pillars of domain knowledge - Enterprise, Performance and Financial. Passing each level of the qualification confirms a candidate's capabilities to perform the tasks at that level in the workplace to the highest standards. When combined with the required practical experience, the CIMA Professional Qualification ensures that members are ready to support and lead their organisations, through the challenging environment of continuous change. The syllabus, assessments and practical experience requirements ensure members are not only competent in the essential accounting, finance and business-related skills, but also in the skills required to lead the finance function in a digital age. The Operational level focuses on the short term and the implementation of decisions. Learners of CIMA P1 practice exams and CIMA P1 practice test will be able to work with others in the organisation and use appropriate data and technology to translate mediumterm decisions into short-term actionable plans.
Reference: https://www.cimaglobal.com/Qualifications/Professional-Qualification/Operational-level/
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CIMA CIMAPRO19-P01-1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Short-Term Commercial Decision Making | 30% | - Pricing and make-or-buy decisions - Limiting factor and contribution analysis - Relevant costing and decision criteria |
| Topic 2: Cost Accounting for Decision and Control | 30% | - Costing methods (absorption, marginal, ABC, etc.) - Cost information for planning and control - Cost behaviour and cost classification |
| Topic 3: Dealing with Uncertainty in the Short Term | 15% | - Expected value and risk analysis - Decision trees and sensitivity analysis |
| Topic 4: Budgeting and Budgetary Control | 25% | - Budget preparation and control - Types of budgets (flexible, rolling, cash, etc.) - Budgetary control techniques |
