ICS offers the CIMAstudy online learning system, the only
official online study resource that is reviewed and approved by
CIMA. The online learning system takes you step-by-step through the
CIMA qualification, with each course teaching you all of the theory
you need to learn. Study topics are explained clearly using
interactive cases, and there are tests and exercises at every stage
that reinforce learning and allow you to test your knowledge.
In addition to the CIMAstudy online learning system ICS also
provides every student with CIMA approved study materials,
including the CIMA Exam Practice Kit and CIMA Exam Revision Cards.
These paper-based study resources are there to complement your
online learning.
You will also have the support by telephone and email from a
dedicated and qualified ICS tutor to answer any queries you have in
relation to the content of the course. If you need technical help,
this is provided directly by CIMAstudy.com, not ICS.
The Fundamentals of Management Accounting course forms the first
step of your five-paper progression to membership of the Chartered
Institute of Management Accountants (CIMA), and is the sort of
qualification corporate employers seek when recruiting high-level
positions.
For CIMA Paper 1 you will learn about cost determination and
study the fixed and variable elements of cost, learning how to
prepare 'break-even' charts and profit/volume graphs.
As you study management accounting you'll also look at the
preparation of 'standard costs' for the material, labour and
variable overhead elements of cost in a product or service.
As part of the Fundamentals of Management Accounting course you
will also study the principles of production accounts and look at
different costing and accounting systems. You will learn why
organisations use budgets, examine different types of budgets, and
learn to prepare them.
This course is the first step towards the CIMA Certificate in
Business Accounting.
You don't need any previous experience or qualifications to
enrol in our CIMA courses. That's because we believe in making home
study - and a rewarding future - as accessible as possible.
However, you will need a good standard of maths, and a solid grasp
of English.
Please note the following technical requirements needed in order
to access and use the online course:
Microsoft Windows requirements:
- Microsoft Windows 2000 or higher
- Microsoft Internet Explorer v6.0 or higher, or Mozilla Firefox
v1.5 or higher
- 256 Kbps or faster Internet connection
- 128 MB or more RAM
- Screen resolution of 1024 * 768 pixels
- 32-bit (Truecolor) color depth/video display
- Sound capabilities (sound card and speakers)
- Adobe® Flash Player plug-in version 6.0 or
higher
Macintosh requirements:
- Mac OS X 10.3.0 or higher
- Apple Safari v1.3 or higher
- 256 Kbps or faster Internet connection
- 128 MB or more of RAM
- Screen resolution of 1024 * 768 pixels
- 32-bit (Truecolor) Color Depth/Video Display
- Sound capabilities (sound card and speakers)
- Adobe® Flash Player plug-in version 6.0 or
higher
With the skills you gain from this and the other papers that
make up this qualification, you will be able to provide accounting,
management and finance skills from a variety of roles within
business. You'll be in demand for positions as diverse as systems
analyst, sales manager, Chief Financial Officer or consultant,
depending on your particular interests.
On completion, you'll receive the CIMA Paper 1: Fundamentals of
Management Accounting qualification.
Completion of papers 1 to 5 qualifies you for a CIMA Certificate
in Business Accounting.
As you progress through your online course there are end of unit
questions and answers which are assessed and your scores recorded.
In addition, at the end of the course there is a complete mock exam
which is timed, assessed and scored as in the real CIMA Computer
Based Assessment This will determine your readiness for taking the
final assessment set by CIMA and taken at a CBA exam centre.
Final CIMA Exam
- a computer-based exam consisting of 50 questions which must be
completed within 2 hours
The format of the exam is subject to change. The details
provided are intended only as a guide and should not be regarded as
definitive.
Please note that you will be required to register with CIMA to
sit the exam. Exam fees are £45 but exam centres will also charge a
fee which is determined by the centre and can vary across the
UK.
Because we're experts in home learning, ICS knows about and
offers all the support you need along the way.
Along with 12 months of access to the fully online CIMA learning
tool, you'll also receive CIMA approved study materials, including
the CIMA Exam Practice Kit and CIMA Exam Revision Cards. These
paper-based study resources are there simply to compliment the
online learning that contains everything you need to study this
CIMA Paper.
You'll have access to an experienced personal tutor both online
and over the phone, ready to help you with guidance and
motivation.
You'll also be part of the ICS Online Student Community, where
you'll have access to library materials and your account
information, as well as vital links with your fellow students, with
the chance to discuss your work, ask questions and make new
friends.
130 hours
(That's equivalent to 2 ½ hours of study a week over the
12-month support period)
There are CIMA registration, subscription, exam and exemption
fees that are additional to your course fees:
- CIMA Registration Fee: £63
- Annual CIMA subscription fee: £90
- Exam fees: £45 per paper (exam centres may charge
administration fees in addition.)
- Exemption fees: £45 per paper
Find out more information about arranging your examinations.
See your course content
Key Topics
Examine the idea of 'cost objects', as well as the concepts of
direct cost and indirect cost. Study first-in-first-out (FIFO),
last-in-first-out (LIFO) and average cost (AVCO) methods of
accounting for stock and calculating stock values and related gross
profit. Learn how to calculate direct, variable and full costs of
products, services and activities. Consider the use of cost
information in pricing decisions.
- Cost Behaviour and Break-even Analysis
Examine the fixed and variable elements of cost using both the
high-low method and the 'line of best fit' method. Learn how to
prepare break-even charts and profit/volume graphs. Discover how to
determine the profit-maximising sales mix for multi-product
companies.
Learn how to prepare 'standard costs' for the material, labour
and variable overhead elements of cost in a product or service.
Examine the reconciling of actual contribution with budgeted
contribution.
- Costing and Accounting Systems
Examine the principles of production accounts and the
integration of the cost accounts with the financial accounting
system. Examine job costing, batch costing and contract costing.
Consider process costing and specific order costing. Study both
subjective and objective classifications of expenditure, and
consider the importance of tracing costs both to products/services
and to responsibility centres.
- Financial Planning and Control
Consider why organisations set out financial plans in the form
of budgets, and learn how to prepare functional budgets. Discover
how to prepare a 'master budget' based on functional budgets. Gain
the skills to interpret budget statements and so advise managers on
financing projected cash shortfalls and/or investing projected cash
surpluses. Examine fixed and flexible budgets.
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