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The CIMA P1 exam covers a broad range of topics such as costing systems, budgeting, performance measurement, and strategic management accounting. Candidates will be expected to demonstrate their ability to apply these concepts in real-world scenarios and make informed decisions based on the data provided. P1 exam is designed to test the candidate's analytical and critical thinking skills, as well as their ability to communicate effectively with stakeholders.

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The CIMA P1 exam is divided into three sections, each of which covers a different aspect of management accounting. The first section covers cost accounting and focuses on the principles of cost accounting, including the different types of costs, cost behavior, and cost-volume-profit analysis. The second section covers budgeting and performance management and examines how to prepare budgets, measure performance, and manage costs. The final section covers financial analysis and explores financial reporting, ratio analysis, and capital investment appraisal.

CIMAPRO19-P01-1 exam is a computer-based test that consists of 60 multiple-choice questions. Candidates have two hours to complete the exam, and the passing score is 70%. P1 exam is available in English and is administered at Pearson VUE testing centers worldwide.

CIMA CIMAPRO19-P01-1 exam is a professional certification exam designed for individuals seeking to become management accountants. P1 exam is offered by the Chartered Institute of Management Accountants (CIMA) and is part of their Professional Qualification program. P1 exam is designed to test a candidate’s knowledge and skills in management accounting, which includes areas such as budgeting, costing, financial analysis, and performance management.

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

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CIMA P1 Exam Syllabus Topics:

SectionObjectives
Topic 1: Cost Accounting for Decision and Control- Cost classification and behavior
  • 1. Cost estimation techniques
    • 2. Fixed, variable, and semi-variable costs
      - Costing systems
      • 1. Activity-based costing (ABC)
        • 2. Absorption vs marginal costing
          Topic 2: Budgeting and Management Control- Budgetary control systems
          • 1. Flexible budgeting
            • 2. Variance analysis basics
              - Budget preparation
              • 1. Cash budgets
                • 2. Functional budgets
                  Topic 3: Risk and Uncertainty in Decision Making- Risk evaluation methods
                  • 1. Expected values
                    • 2. Sensitivity analysis
                      Topic 4: Short-term Decision Making- Decision techniques
                      • 1. Make or buy decisions
                        • 2. Limiting factor analysis
                          - Relevant costing principles
                          • 1. Opportunity cost analysis
                            • 2. Relevant vs irrelevant costs
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