P1 Management Accounting (Cima Certification)

CIMA P1: Management Accounting – Costing, Budgeting & Decision-Making for Performance

What you'll learn

Core costing techniques used by management accountants

How to prepare and analyze budgets for performance management

How to make rational, data-driven short-term decisions

How to deal with uncertainty using quantitative models

Practical techniques used in real business contexts

Requirements

Are enrolled in the CIMA Operational Level

Have some exposure to basic cost or financial accounting (e.g., CIMA CertBA or AAT)

Can work with basic percentages and formulas (e.g., for breakeven or margins)

Description

CIMA P1: Management Accounting is designed to give students a deep and practical understanding of the key concepts, tools, and frameworks used by management accountants to support planning, control, and decision-making in today’s fast-paced business environment. The course blends theory with real-world application and prepares you not just to pass the P1 exam, but to apply what you've learned confidently in professional scenarios.The syllabus begins with costing fundamentals and introduces a range of costing techniques that you’ll need to understand and evaluate in various contexts. These include:Absorption costing and marginal costingActivity-based costing (ABC)Throughput accountingYou’ll then explore the role of budgeting in organizational planning and control, along with the behavioral implications of budget setting and performance targets. The course walks you through:Incremental, zero-based, and rolling budgetsFlexible budgetingBudgetary control systems and feedback mechanismsAs the course progresses, we dive into performance analysis and short-term decision-making, including critical tools and models that help organizations optimize resources and manage uncertainty. Key topics covered here include:Cost-volume-profit (CVP) analysis and breakeven analysisRelevant costing and limiting factorsDecision-making under risk and uncertainty, including expected values and probability-based approachesThe course is delivered using clear explanations, practical examples, visual breakdowns of models, and regular exam-style questions. Each topic is designed to build your confidence step-by-step, ensuring you can recognize, apply, and evaluate core management accounting techniques effectively in both exam and workplace settings.

Overview

Section 1: Accounting Methods in Management Accounting (P1 CIMA Track)

Lecture 1 Lesson 1 Cost Methods

Lecture 2 Lesson 2: Investment Appraisal

Lecture 3 Case Study 1

Lecture 4 Case Study 2

Lecture 5 Case Study 3

Lecture 6 Case Study 4

Lecture 7 Review 1: Questions 1 to 9

Lecture 8 Review 2: Questions 9 to 12

Lecture 9 Review 3: Questions 12 to 18

CIMA students preparing for the P1: Management Accounting exam,Finance professionals seeking to strengthen their budgeting and costing knowledge,Business managers who want a clearer view of cost control and short-term decision-making,University students or career switchers pursuing finance or accounting