Fundamentals of Management Accounting 2011

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About the course

Prepare yourself for the CIMA Professional Chartered Management Accounting Qualification and get up to speed with all of the pre-requisites with our range of fundamental accounting certificates. The job market can be a competitive place nowadays, so it makes sense to get up to scratch and beat your competition with an impressive array of qualifications that can give you a better chance of success in the workplace. This course is one of the entry requirements for the CIMA qualification, along with four other modules. Break the study down into manageable pieces and you’ll be well on your way to accounting freedom.

Complete the Course in Five Stages

There are five different sections to this course, which contribute a certain percentage to the overall result. With the help of the learning resources and study materials that are made available to you throughout the course duration, you should be able to manage your time well and maintain the drive you will require to succeed. In total, the CIMA CO1 – Fundamentals of Management Accounting – should take approximately 12 hours to study; possibly more, or less, depending on your personal profile. The entire course is available online, so there will be no need for you to try and find a local study centre – it’s all waiting for you on the computer screen!

The Five Modules, Defined Clearly

The Context of Management Accounting, which makes up 10% of your final mark, introduces you to the field with explanations of terms that you will face along the way, including the CIMA definitions of management accounting and the role of the management accountant. The second stage regards Cost Identification and Behaviour (25%) which includes the classification of costs and the analysis of cost behaviour. From here, you will learn about Planning within Organisations (30%), with budgeting and overheads being primary features, while the fourth unit, Accounting Control Systems (20%) looks at preparing ledger accounts and financial statements. The final unit is Decision Making, which makes up 15% of the qualification, and explores CVP analysis, net present values and the process of valuing long term investments.

Key Learning Points

As an entry level qualification which will help you to complete the CIMA Professional Chartered Management Accounting Qualification, this certification is a great place to begin your accounting studies.

  • Get to grips with the industry basics, including the CIMA definition of management accounting, and the role of the management accountant within a business.
  • Understand the importance of cost control and responsibility accounting
  • Learn more about the background to the formation of the CIMA and the need for it to exist as a professional body in management accounting.
  • Explore the classification of costs and the behaviour and activity levels of them.
  • Learn the importance of budgeting and planning, from functional and master budgets, to interpreting statements and variances.
  • Learn how to prepare financial statements for the purpose of management perusal, and distinguish between the various managerial reports across a diverse range of organisations and enterprises.
  • Understand the contribution concept, and implement cost-volume-profit analysis, while also being able to explain make or buy decisions and the importance of valuing long term investments.

Advantages of this course

  • Improve your chance of employment and impress prospective employees with a glowing skillset!
  • Online CIMA training, training manuals and an exam practice kit come as standard upon registration on the course.
  • Online study means you can complete the various units in your own time, at your convenience. No need to worry about jam-packed timetables, which can be advantageous when you have a job or other commitments to work around.
  • Downloadable certificates upon completion, so that you can print them off to keep as soon as you pass.
  • Printable reference guides and exercises to help you revise and retain as much information as possible.
  • Full technical support, available via email and telephone, should you need a helping hand. Search and keyword facilities online can also help in the first instance.

Start as you mean to go on and invest in this course today, which you can then use as a stepping stone to go on to the dizzy heights of a CIMA Professional Chartered Management Accounting qualification!

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