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Certificate Paper C1
FUNDAMENTALS OF
MANAGEMENT ACCOUNTING
For assessments in 2010 and 2011
Study Text
In this February 2010 new edition
•
Auser-friendly format for easy navigation
•
Regularfast forward summaries emphasising the key points in each chapter
•
Assessment focus points showing you what the assessor will want you to do
•
Questions and quick quizzes to test your understanding
•
Question bank containing objective test questions with answers
•
A full index
BPP Learning Media's
i-Pass
product also supports this paper.
FOR ASSESSMENTS IN 2010 and 2011
This text has been fully updated for IAS 1 (revised). However the latest
information from CIMA is that this will not be assessed until Autumn
2010. At this level the main changes are in terminology. Therefore
students taking their Computer Based Assessments before Autumn 2010
should refer to the list of terms on page xx.
First edition June 2006
Third edition February 2010
A note about copyright
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e-ISBN 9780 7517 8396 4
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ii
Contents
Page
Introduction
The BPP Learning Media Study Text – The BPP Learning Media Effective Study Package – Help yourself
study for your CIMA assessment – Learning outcomes and Syllabus – The assessment – Tackling multiple
choice questions – Tackling objective test questions – International terminology
Part A Cost determination and behaviour
1
Introduction to management accounting and costing..................................................................................................................
2
Cost behaviour..........................................................................................................................................................................
3
Overhead costs – absorption costing........................................................................................................................................
4
Marginal costing and pricing decisions ....................................................................................................................................
5
Inventory valuation..................................................................................................................................................................
6
Breakeven analysis and limiting factor analysis ......................................................................................................................
Part B Standard costing
7
Standard costing.....................................................................................................................................................................
8
Variance analysis ....................................................................................................................................................................
Part C Financial planning and control
9 Budget preparation..................................................................................................................................................................
10 Flexible budgeting ..................................................................................................................................................................
Part D Costing and accounting systems
11 Cost bookkeeping ...................................................................................................................................................................
12 Process costing ......................................................................................................................................................................
13 Job, batch and contract costing ..............................................................................................................................................
14 Service costing ......................................................................................................................................................................
Question bank (computer-based assessment)
....................................................................................................
Answer bank (computer-based assessment)
........................................................................................................
Index
.............................................................................................................................................................................................
Review form and free prize draw
iii
The BPP Learning Media Study Text
Aims of this Study Text
To provide you with the knowledge and understanding, skills and application techniques that you need if you are
to be successful in your exams
This Study Text has been written around the
Fundamentals of Management Accounting
syllabus.
•
It is
comprehensive
. It covers the syllabus content. No more, no less.
•
It is written at the
right level
. Each chapter is written with CIMA's precise learning outcomes in mind.
•
It is targeted to the
assessment
. We have taken account of guidance CIMA has given and the assessment
methodology.
You may be studying at home on your own until the date of the exam, or you may be attending a full-time course. You
may like to (and have time to) read every word, or you may prefer to (or only have time to) skim-read and devote the
remainder of your time to question practice. Wherever you fall in the spectrum, you will find the BPP Learning Media
Study Text meets your needs in designing and following your personal Study Plan.
To tie in with t he other components of th e BPP Learning Media Ef fective Study Package t o ensure you have t he
best possible chance of passing the exam (see
Learning to Learn Accountancy
BPP Learning Media's ground-breaking
Learning to Learn Accountancy
book is designed to be used both at the outset of
your CIMA studies and throughout the process of learning accountancy. It challenges you to consider how you study and
gives you helpful hints about how to approach the various types of paper which you will encounter. It can help you
focus
your studies on the subject and exam
, enabling you to
acquire knowledge
,
practise and revise
efficiently and
effectively
.
iv
Introduction
To allow you to study in the way that best suits your learning style and the time you have available, by following
your personal Study Plan (see
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