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CIMA P2 Advanced Management Accounting CIMA P2
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CIMA P2 Advanced Management Accounting
Management level Focusing primarily on the long
term, P2 builds on the insights about costs and
their drivers (from P1) to provide the
competencies needed to analyze, plan and manage
costs to support the implementation of the
organization's strategy. It shows how to manage
and control the performance of various units of
the organization in line with both short-term
budgets and long-term strategy. Finally, P2
covers investment decision making and the risks
associated with such decisions. It provides the
basis for developing deeper understanding of
various types of risk affecting the strategy and
operations of organizations (covered in P3).
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Summary of syllabus Each subject is divided
into a number of broad syllabus topics. A
percentage weighting is shown against each
syllabus topic and is intended as a guide to the
proportion of study time each topic requires. It
is essential that all topics in the syllabus are
studied, as all topics will be examined. The
weightings do not specify the number of marks
that will be allocated to topics in the
examination.
Weight Syllabus topic
25 A. Cost planning and analysis for competitive advantage
30 B. Control and performance management of responsibility centers
30 C. Long-term decision making
15 D. Management control and risk
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Assessment
Format computer based Objective Test
Availability on demand at any of the 5000 Pearson VUE centers around the world
Length 90 minutes
Marking computer marked
Results provisional result available immediately followed by confirmation no more than 48 hours later
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Sample Question 1
An electronics company sells a range of tablet
computers. Tablet computers come complete with an
operating system that is regarded as the market
leader. The company aims to launch a new version
of its hardware every eighteen months and a major
update to its software every three years. The
latest version of the tablet computer is always
sold at a higher price, but the older version
that has been replaced is then sold for a time at
a discounted price. Which pricing model does this
company appear to be using? A. Penetration and
loss leader pricing B. Penetration and product
bundling C. Skimming and loss leader pricing D.
Skimming and product bundling Answer D
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Sample Question 2
K Supermarket spends 80,000 per year on checking
and processing receipts of inventory. Annual
warehouse costs are a further 70,000 per year.
These costs are currently treated as fixed
overheads in the company's costing system. As an
experiment, the company is preparing a direct
profitability analysis of a small range of
products, including fresh grapes. K Supermarket
receives a total of 3,600 deliveries every year.
20 of these deliveries are of perishable goods
such as grapes. It takes twice as long to process
a delivery of perishable goods compared to a
normal delivery because perishable goods have to
be checked more carefully. Half of the warehouse
costs are for the chilled store that is used to
store perishable goods. At any time, the chilled
store has 800 kilos of perishable goods in stock.
K Supermarket receives 150 deliveries of grapes
every year. Each delivery is for 100 kilos of
grapes. The grapes spend an average of two days
in the chilled store before they are sold.
Calculate the total cost per kilo of checking,
processing and storing grapes that should be
taken into account in determining the
profitability of grapes. Give your answer to the
nearest whole cent.\ Answer 61 cents
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Sample Question 3
A company is classifying its quality costs to
prepare a quality cost report. Which of the
following are conformance costs? Select ALL that
apply. A. Internal Failure Costs B. External
Failure Costs C. Prevention Costs D. Appraisal
Costs Answer C, D
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Sample Question 4
A company has a maximum of 2 million to invest
and has identified four viable projects, E, F, G
and H. The initial investment for each of the
projects is the maximum amount that can be
invested in the project, but any amount up to the
maximum can be invested. The projects are
divisible. The projects have been evaluated using
net present value, as below. All figures are
millions. A. Project E B. Project F C. Project
G D. Project H Answer B
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Sample Question 5
To which technique for dealing with risk and
uncertainty do ALL of the following statements
apply? It requires that only one factor is
considered at a time. It identifies areas which
are crucial to a project, which can then be
monitored if the project is chosen. It does not
provide an indication of the likelihood of any
change in the factors. Following the
calculation, it requires the exercising of
judgment to decide whether to accept or reject a
project. A. Sensitivity analysis B. Probability
analysis C. Scenario analysis D. Adjusting the
discount rate to reflect risk. Answer A
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CIMA P2 Advanced Management Accounting CIMA P2
Best Study Guide
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