Even though Certificate in Business Accounting is an entry level qualification but still the proficiency level required is high and it challenges the students right at start.
Paper 01 under CIMA certificate is about Management Accounting and even though syllabus has been defined to make it easier even for the first timers but it will be much better that students with accounting background will find it easier to get along with the syllabus.
CIMA C01 Fundamentals of Management accounting paper starts from the scratch by building up the basics about management accounting and the role of CIMA in development of this vast subject. In this course students get familiar with the basic quantitative decision making techniques used by managers and how cost and management accounting can help manage the business by providing valuable aid in planning and control.
Major areas of CIMA C1 are:
The context of Management Accounting
Cost behaviour and breakeven analysis
Standard Costing
Costing and accounting systems
Financial planning and control
Students are cautioned right at the beginning that CIMA C1 has a lengthy syllabus and needs time management if students are taking other papers as well. CIMA C1 requires a lot of practice and reading and both numerical and discursive proficiency is expected from students.
Syllabus is divided into five major portions where each portion carries much to be understood. Students having no trouble in understanding the technical and business English can take up C1 for self study. However, self-studying student should find someone to guide them.
Examination is computer based
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Summary Objectives
After completing CIMA C01 Fundamentals of Management Accounting course students are presumed to have knowledge and relevant skills of the following:
What is management accounting and what are management information needs
What are management roles and why planning and control is important in business environment
How CIMA was formed and its purpose also what is the role of CIMA in developing management accounting
What is cost and what are different cost accounting concepts including how costs behaves with varying activity levels and how this is important in helping management decision making process
What is the concept of contribution and how marginal costing, breakeven analysis and cost-volume-profit (CVP) analysis helps management in quantifying scenarios
What are different costing techniques and how entities use them in ascertaining costs for different cost objects in different cost units. Also students must have general understanding of cost accounting ledgers and how they are integrated with financial accounting records
What is standard costing and what is its role in planning and controlling management functions and business operations
How budgets are prepared and used to forecast and take control actions in addition to standard costing
CIMA C01 Fundamentals of Management Accounting Syllabus
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Area Weightage:
Although it has not been disclosed that how many questions will be asked from each area but for guidance purposes the exam weight of each area of the syllabus has been disclosed:
Time:
CIMA C1 will be examined in 2 hours (120 minutes) exam
Number of questions:
Exam will contain 50 compulsory questions where each question can have more then one parts. As questions are compulsory all the questions are required to be answered with in the given time.
Assessment Format:
It will be a Computer Based Assessment (CBA) i.e. students will be examined in computer based environment where students will be presented with one question at a time and students will answer the questions using input devices like mouse and keyboard.
Exam Style:
Exam will be objective in nature where majority of the questions will be multiple-choice. But this will not be the only style of questions. Other possible style includes:
filling in the blank
ranking
definition with missing word
identifying a key issue e.g. advantages
calculating a figure.
diagram labeling
identifying the key concept under a particular scenario e.g. inflation
CIMA C01 | Fundamentals of Management Accounting Video Lectures
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CIMA C01| Fundamentals of Management Accounting Revision Notes
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CIMA C01 | Fundamentals of Management Accounting Practice Questions
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CIMA C01|Fundamentals of Management Accounting Mock Exams
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CIMA C01| Fundamentals of Management Accounting Exam Tips
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