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CIMAPRO19-P01-1 PDF Practice Q&A's

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  • Total Questions: 258
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Understanding function and technical aspects of Distinguish Between The Different Rationales For Costing

The following will be discussed in CIMA P1 exam dumps:

  • Explain costing information to operational and senior management using appropriate formats and media
  • Use appropriate technologies to gather data for costing purposes, from digital and other sources.
  • Make decisions regarding activities (e.g.) purchase materials required for production
  • Compare different costing methods and systems to determine the most suitable for use by the organisation for different purposes
  • Evaluate the activities (e.g.) evaluate whether more/less materials were used per unit in comparison to the original plan
  • Plan the activities (e.g.) plan number of units to produce this year
  • Identify the cost information required for digital cost objects
  • Control the activities (e.g.) control amount of materials being used for production
  • Apply different costing methods to produce costing information suitable for managers' needs

Below is the CIMA Operational CIMA P1 Accounting

  • Number of questions: 60
  • Language: English
  • Format: Multiple choices, multiple answers
  • Passing score: 70%
  • Length of Examination: 90 minutes

Reference: https://www.cimaglobal.com/Qualifications/Professional-Qualification/Operational-level/

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What do you learn in P1?

  • Why costing is done and what it is used for, including appropriate costing methods and techniques and where digital costing might be used.
  • How budgets are prepared and implemented across the organisation, the impact these have, and how techniques are applied to ensure sound short term decision making, against a backdrop of risk and uncertainty, by using appropriate risk management tools.

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CIMA CIMAPRO19-P01-1 Exam Syllabus Topics:

SectionWeightObjectives
Dealing with Uncertainty in the Short Term15%- Decision trees and sensitivity analysis
- Expected value and risk analysis
Cost Accounting for Decision and Control30%- Costing methods (absorption, marginal, ABC, etc.)
- Cost behaviour and cost classification
- Cost information for planning and control
Budgeting and Budgetary Control25%- Types of budgets (flexible, rolling, cash, etc.)
- Budgetary control techniques
- Budget preparation and control
Short-Term Commercial Decision Making30%- Limiting factor and contribution analysis
- Pricing and make-or-buy decisions
- Relevant costing and decision criteria

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