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
• Apply different costing methods to produce costing information suitable for managers' needs
• Evaluate the activities (e.g.) evaluate whether more/less materials were used per unit in comparison to the original plan
• 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
• Control the activities (e.g.) control amount of materials being used for production
• Identify the cost information required for digital cost objects
• Use appropriate technologies to gather data for costing purposes, from digital and other sources.
• Plan the activities (e.g.) plan number of units to produce this year

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

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What do you learn in P1?

• 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.
• Why costing is done and what it is used for, including appropriate costing methods and techniques and where digital costing might be used.

Below is the CIMA Operational CIMA P1 Accounting

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

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Understanding function and technical aspects of Apply relevant financial reporting standards and corporate governance, ethical and tax principles

The following will be discussed in CIMA P1 exam dumps:

• Apply the principles of corporate governance and ethics
• Identify the impact of tax regulation on transactions, decisions and profits
• Apply relevant IFRS in a given context, to facilitate the preparation of financial statements