Understanding function and technical aspects of Prepare information to support short-term decision-making

The following will be discussed in CIMA P1 exam dumps:

• Explain factors that could influence short-term decisions
• Prepare information to support operational decisions
• Identify relevant costs and benefits
• Apply appropriate techniques to deal with situations where there is risk and uncertainty
• Apply appropriate techniques that support short-term decision-making

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

Topics of CIMA Operational CIMA P1 Accounting

The following topics are a part of CIMA P1 Accounting module.

• Cost Accounting for decision and control
• Analyse performance using financial and nonfinancial information
• Budgeting and budgetary control
• Apply relevant financial reporting standards and corporate governance, ethical and tax principles
• Short term commercial decision making
• Prepare budget information and assess its use for planning and control purposes
• Prepare information to support short-term decision-making
• Distinguish Between The Different Rationales For Costing
• Risk and uncertainty in the short term
• Prepare information to manage working capital

What do you learn in P1?

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

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CIMA CIMAPRO19-P01-1 Exam Syllabus Topics: