CIMA - P2 Advanced Management Accounting

CIMA P2 – Advanced management accounting.

The CIMA P2 exam is a tough one to crack because there are many calculations to consider as well as some complicated theories to understand. After passing the P1 exam, however, you'll already have the platform to build on your knowledge and pass the CIMA P2 exam successfully. There are some areas of the P2 syllabus that are easier to review, as stated in the opening paragraph. And one such field is Net Present Values and Internal Rate of Return since they are dependent on measurement. NPV's are fairly clear but IRR (and MIRR) can be more difficult to grasp

Summary of Syllabus

• A. Managing the Costs of Creating Value --- 25%
• B. Capital Investment Decision Making --- 30%
• C. Managing Performance of organizational Units --- 30%
• D. Risk and Control --- 15%

CIMA P2 Student Mindset

You really should make sure that you are preparing your CIMA P2 studies to ensure:

• You have ample time to cover the entire syllable of P2.
• In the end, have 2-3 weeks of review and mock test.
• Set your exam date so you'll have a deadline and research encouragement.

This is all commonsense stuff really and it will help you stay on track and ensure you reach the milestones along the way. Follow a recommended "strategy" for conducting the test because you will be under time pressure and care has to be ensured accordingly. Once you have covered the entire syllabus, the key to passing any CIMA exam is to make sure that you have sufficient examination practice in your hand. Making sure you can handle the P2 exam in real examination conditions which will give you the confidence to handle the exam on the day of the examination.

For deeper insights about how successful students cracked this exam, you may read interviews or testimonials of past students on channels like YouTube ,you may also get in touch with your alumni network of the institute you have enrolled in for CIMA examination training. If nothing works, you have social media sources like Facebook , LinkedIn ,twitter etc. where there are formal groups of CIMA students , you may reach out to anyone from there if they are responding you positively. There are also plenty of tools out there that can help you communicate with other students and do look through the technical articles of CIMA P2.

A. Managing the costs of creating value

• Apply cost management and cost transformation methodology to manage costs and improve profitability.
• Compare and contrast quality management methodologies.
• Apply value management techniques to manage costs and improve value creation.

B. Capital investment decision-making

• Apply the data required for decision-making.
• Explain the steps and pertinent issues in the decision-making process.
• Apply investment appraisal techniques to evaluate different projects.
• Discuss pricing strategies.

C. Managing and controlling the performance of organisational units

• Analyse the performance of responsibility centres and prepare reports.
• Discuss various approaches to the performance and control of organisations.
• Explain the behavioural and transfer pricing issues related to the management of responsibility centres.

D. Risk and control

• Analyse risk and uncertainty associated with medium-term decision-making.
• Analyse types of risk in the medium term.

Higher Secondary Qualified