Prerequisites for Module
To have passed the relevant first year modules or equivalent.
Corequisite Modules
None.
Precluded Modules
None.
Aims of Module
To develop an understanding of costs and drivers of costs in the production, analysis and use of information for decision making in organisations.
Learning Outcomes for Module
On completion of this module, students are expected to be able to:
| 1. |
Discuss costing methods and their results and also the role of quality and environmental costing.
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| 2. |
Explain and discuss the purposes of forecasts, plans and budgets; prepare forecasts of financial results, discuss budgets based on forecasts, the principles that underlie the use of budgets for control and analyse performance using budgets, recognising alternative approaches and sensitivity to variable factors.
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| 3. |
Explain concepts of cost and revenue relevant to pricing and product decisions and analyse short-term pricing and product decisions.
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| 4. |
Analyse information to assess risk and its impact on short term decisions.
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Indicative Module Content
As per CIMA P1 2015 Syllabus.
| Indicative Student Workload
Contact Hours
| Distance Learning | Assessment
| 2 | Virtual tutorials
| 15 |
Directed Study
| | Assessment preparation
| 40 | Directed question practice
| 30 | Directed research and reading
| 13 |
Private Study
| | Private study
| 100 |
Mode of Delivery
The mode of delivery is Distance Learning - with a focus on the use of interactive online activities such as forums and chat rooms.
Assessment Plan
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Learning Outcomes Assessed
| | Component 1 | 1,2,3,4
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Component one is the P1 CIMA Operational level exam.
Indicative Bibliography
| 1. | DRURY, C., 2021. Management and cost accounting. 11th ed. Andover: Cengage Learning.
| | 2. | KAPLAN, 2019. CIMA Complete Text: P1 Management Accounting. Kaplan Publishing, Berkshire
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Additional Notes
Core module content is provided online and comprises material from CIMAstudy.com, published by CIMA and Kaplan.
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