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About the course
Get one step closer to achieving the CIMA Professional Chartered Management Accounting qualification and sign up for this course, the second in a series of nine, which will come together to form one exclusive qualification that any accounting CV would benefit from. Delivered solely online, this P1 Performance Operations module will introduce you to some of the fundamental aspects of business accounting, which are broken down into five manageable, easy-to-navigate units.
From Budgeting to Managing Short Term Finance
The course is split into five units that each contributes a certain percentage to the final mark. The units that students will cover are cost accounting systems (30%), forecasting and budgeting techniques (10%), project appraisal (25%), dealing with uncertainty in analysis (15%) and managing short-term finance (20%); all of which are crucial topic areas for any chartered management accountant to understand, and apply, during their working life. Take as long as you need with this course; utilise the resources and study packs that are openly available to you and continue on in your journey towards career satisfaction.
Successfully combine this course with the others in the series and you will be awarded the prestigious CIMA certificate that chartered management accountants boast. Any prospective job applicant will know how competitive the industry is, so anything that can help impress interviewees and help you to stand out above and beyond fellow applicants is going to be a sound investment.
Key Learning Points
Applicants of this course should note that this is one module in a series of nine that need to be completed, and passed, to apply for the CIMA Professional Chartered Management Accounting qualification.
- Learn how to apply costing methods, within costing systems, including the reconciliation of budgeted and actual profit margins.
- Understand the concepts of planning and operational variances, as well as the various standards and variances within service industries, public services and professions.
- Get to grips with the concept of benchmarking, and learn how to prepare reports using a range of internal and external benchmarks with the ability to interpret the results.
- Explain both the MRP and ERP systems.
- Learn about how internalised costs such as emissions, tax and waste disposal can affect the environment.
- Understand the need for forecasts, plans and budgets within an organisation, and how to resolve issues when conflicts within them arise.
- Apply a variety of forecasting techniques to calculate product/service volumes, as well as projected revenues and costs.
- Learn how to prepare a budget based on forecasts, projections and managerial targets.
- Understand and explain the processes that are involved in making long-term decisions, and learn how to calculate cash-flows to ensure the long-term decisions are the right ones.
- Consider both financial and non-financial aspects during the decision making process, and prepare supporting documents to emphasise the key points.
- Learn how to evaluate project proposals based on investment appraisal techniques.
- Learn how to analyse the impact of uncertainty upon the decision making process, including cash flow, learning curves and discounting techniques.
- Explore the management of short-term finance; learn how to analyse cash-flow forecasts, and identify the potential for short-term funding and investment opportunities.
Advantages Of This Course
- Study alongside your current job and other commitments.
- Broken down into manageable pieces, so you can stay engaged and motivated throughout.
- Interactive simulations, tutorials, training manuals, exercises and self-assessment packs available to keep you on your toes and ensure the learning materials are varied and interesting.
- Printable reference guides and exercises for you to practice whenever you like.
- Downloadable certificate of completion and any other attained qualifications – no need to wait for the postman to deliver it!
- Gain confidence in your accounting skills and add practical value to your CV.
- Passing this course will mean you’re on your way towards the complete CIMA certificate and the associated job prospects that come with it!
What’s stopping you from signing up right now? The answer is…there’s nothing stopping you! Continue along your path towards achieving a sought-after CIMA credential, today!
Units of Study
- Marginal Costing Vs. Absorption Costing
- Activity based Costing
- Standard Costing
- Standard Costing Reports
- Planning and Operational Variances
- Performance Evaluation
- Production Management Techniques
- Environmental Costing
- Preparing Budgets
- Forecasting Techniques
- Budgeting Methods
- The Decision-making Process
- The Time Value of Money and NPV
- Basic Methods of Investment Appraisal
- Mutually Exclusive Projects and Capital Rationing
- Dealing with Risk and Uncertainty in Decision Making
- Sensitivity in Investment Appraisal
- Advanced NPV-The Effect of Tax and Inflation
- Interpreting Working Capital Ratios
- Working Capital: Receivables and Payables
- Working Capital: Inventory
- Forecasting Cash Flows
- Managing Cash