CIMA Managerial Studies (eBook)

Front Cover 1
CIMA Managerial Studies: Be Prepared 4
Copyright page 5
Table of Contents 6
Introduction: Not Another Book? 10
Chapter 1 Management Accounting 18
Introduction 20
Why Does Paper P1 Cause Problems? 21
CBA Paper CO1 22
A Cost Determination 23
Calculating Overhead Absorption Rates 26
B Cost Behaviour and Breakeven Analysis 30
C Standard Costing and Variance Analysis 34
D Process Costing 41
E Cost Accounting Systems (Cost Bookkeeping) 49
F The Changing Face of Management Accounting 52
Revision Questions 54
Solutions to Revision Questions 58
Chapter 2 Financial Accounting and Reporting 66
A Syllabus Overview 68
B The Regulatory Framework 71
The Operating and Financial Review 72
C Single Company Financial Accounts 76
D Managing Short-Term Finance 84
Readings 88
How to Get Involved in CIMA’s Community of Practice 89
Real Time Financial Reporting 90
Revision Questions 94
Solutions to Revision Questions 99
Chapter 3 Auditing and Governance 104
A Introduction 106
B External Audit and the Reporting Process 107
Requirements of CIMA Paper P7 107
External Audit and the Reporting Process 108
C Internal Audit 120
D Corporate Governance and the Combined Code 120
E Corporate Failures 123
F The Sarbanes Oxley Act 125
Revision Questions 126
Solutions to Revision Questions 127
Chapter 4 Business Mathematics 130
Introduction 132
Back to Basics 133
A Algebra and Equations 134
B Accuracy and Approximation 142
C Analysing Data 143
Measures of Dispersion 145
D Probability, Payoff, Forecasting and Correlation 150
E Compounding and Discounting 159
Revision Questions 166
Solutions to Revision Questions 168
Chapter 5 Budgeting Techniques 172
Introduction 174
Your Earlier Studies? 175
Budgeting Basics 175
A The Master and Subsidiary Budgets 177
B Limiting Factors 178
C Preparation of the Budgets 179
D The Budget Committee and Manual 179
E Preparing the Cash Budget 180
F Flexed Budget Preparation 181
G Other Types of Budgets 183
H The Budget and Performance Evaluation 187
I The Concept of Beyond Budgeting 189
Revision Questions 192
Solutions to Revision Questions 196
Appendix A: Glossary of Terms, (those not in the CIMA Official Terminology) 204
Appendix B: Useful Websites 208
Appendix C: IAS 1 Presentation of Financial Information (revised December 2003) 212
Key points 214
Content of financial statements 214
Guidance on implementing IAS 1 222
Appendix D: Formulae 230
Descriptive statistics 232
Time series 232
Linear regression and correlation 232
Financial Mathematics 232
Index numbers 233
Coefficient of correlation (r) 234
Mathematical tables 234
Index 238