Covers value creation cost management, investment decision making, management and control of structural unit performance, and risk and control.
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The CIMA P2 module is 2 of 2 stages of the Diploma in Performance Management program, a qualification aimed at developing the skills to make effective management decisions using the full range of financial and non-financial information. To obtain the DipPM Diploma, candidates must pass two exams in English for Modules P1 Management Accounting and P2 Advanced Management Accounting.
CIMA DipPM qualification is designed for financial professionals developing their careers in management accounting and reporting, budgeting and planning, corporate finance management (Treasury employees), for professionals whose work is related to the financial analysis of the company's activities, as well as managers of other functional units that accept participation in making management decisions related to investments, planning and implementation of projects, budgetary control, etc.
Focusing primarily on the long term, P2 builds on the insights about costs and their drivers (from P1) to provide the competencies needed to analyse, plan and manage costs to support the implementation of the organisation’s strategy. It shows how to manage and control the performance of various units of the organisation 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 organisations.
The P2 course program covers the following topics: managing costs - 25%, capital investment decision making - 30%, managing performance of organisational units - 30%, risk and control - 15%. After learning the program you will be able to:
The P2 course program covers the following topics: managing costs - 25%, capital investment decision making - 30%, managing performance of organisational units - 30%, risk and control - 15%.
Duration: 9 lessons (72 a.h.)
Lesson 1. Cost Transformation. Activity Based Management (ABM). Direct product profitability (DPP), and customer profitability (CPA). Profitability of sales channels. Pareto analysis.
Lesson 2. JIT manufacturing strategy. Total Quality Management (TQM). Kaizen cost accounting method. Business process reengineering (BPR). Supply chain management. Outsourcing. Target costing. Cost and functional analysis. Porter's value chains. Learning curves.
Lesson 3. Business intelligence systems. Data sources for decision making. Investment decision making process. Payback period (PB). Accounting rate of return (ARR) method. Net Present Value (NPV) method. Internal rate of return (IRR and MIRR) methods. Discounted payback period (DPB).
Lesson 4. Normed capital and profitability index (PI). Sensitivity analysis and taxes. Mutually exclusive investment projects. Asset substitution.Real options.
Lesson 5. Demand elasticity. Mathematical models of profit maximization. Cost-plus pricing. Pricing strategies for new products. Price discrimination.
Lesson 6. Financial performance indicators. Return on investment (ROI, ROCE). Residual income (RI). Economic value added (EVA). Non-financial performance indicators. Balanced scorecard. Benchmarking.
Lesson 7. Transfer pricing methods. Perfect and imperfect markets. Transfer prices on the basis of agreements. International transfer pricing.
Lesson 8. Sensitivity Analysis. Using standard variance to measure risk, perfect and imperfect information. Corporate social responsibility. Information systems and the risks of their use, BIG DATA.
Session 9. Mock exam. Review of all course topics.
CIMA Tutor since 2013. Finalist of CIMA ENGAGE EUROPE Finance Awards 2021 in "the Tutor of the Year" nomination (top-7). Vasiliy has extensive tutoring experience and also teaches courses in Financial Management, IFRS, Enterprise Finance, Business Planning at the MBA programme. He supervises MBA business planning master's dissertations in Russian and English. Vasily has worked in retail, finance and consultancy in large companies.
Lessons are conducted ONLINE in real time on the ZOOM platform. Trainees can communicate with the tutor and colleagues and ask clarifying questions during the training. A virtual whiteboard is used to demonstrate calculations, graphs and diagrams during each lesson. A presentation with the main ideas of each topic is shown. Study materials, practical tasks and tests, CIMA books are provided. After the lesson all participants receive a video recording of the lesson and an informative and comprehensive notes from the tutor. The training process includes testing on each topic to consolidate the material covered and to practice solving exam tasks. Each student is given access to a personal account of the learning system with the ability to monitor progress.
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Students will need to pass two exams - P1 "Management Accounting" and P2 "Advanced Management Accounting". Candidates take the exams in English online or in authorized Pearson VUE centers in a computer-based testing format. CIMA P1 and P2 exams are available on demand throughout the year. The tests contains 60 questions, including multiple choice short questions, number-filling questions, and other formats. Exam duration: 90 min. Pass mark - 100 out of 150. Registration for the exams is through an accredited CIMA Dip PM programm provider.
graduates will receive the designation CIMA Dip PM along with their diploma. Students who successfully complete the CIMA Diploma in Performance Management can progress straight to the Management Case Study level (subject to additional fee). After passing the Management Case Study exam students will gain the CIMA Adv Dip MA designation as well as their paper diploma. Students can then progress to the Strategic level of the CIMA Professional Qualification.
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