Aim of the syllabus
P1 stresses the importance of costs and the drivers of costs in the production,
analysis and use of information for decision making in organisations. The
time focus of P1 is the short term. It covers budgeting as a means of short-
term planning to execute the strategy of organisations. In addition it provides
competencies on how to analyse information on costs, volumes and prices
to take short-term decisions on products and services and to develop an
understanding on the impact of risk to these decisions. P1 provides the
foundation for cost management and the long-term decisions covered in P2.
- Cost accounting systems (30%)
- Budgeting (25%)
- Short-term decision making (30%)
- Dealing with risk and uncertainty (15%)
To progress to the Management Level you must have passed all 3 Objective Tests (E1, P1 and F1) and the Integrated Case Study from the Operational Level.
Every learning outcome will be tested in the exam.
- You must complete all 5 papers in the Certificate Level before progressing on to the CIMA Professional Qualification
- AAT qualified students will be exempt from the Certificate Level and proceed straight to the Operational Level
- Degree students may qualify for exemptions from the Operational Level depending on the content of your degree.
Find out more about exemptions.