IBTC

Operational level

Subjects

• P1 Performance Operations
• E1 Enterprise Operations 
• F1 Financial Operations

Subject Content

P1 Performance Operations

This paper deals with tools and techniques that generate information needed to evaluate and control present and projected performance. Both budgeting and project appraisal emphasise the critical importance of optimising cash flow. The final section of the paper continues this theme from the perspective of managing working capital.

Subject breakdown:

Cost accounting systems (30%)

Forecasting and budgeting techniques (10%)

Project appraisal (25%)

Dealing with uncertainty in analysis (15%)

Managing short term finance (20%)

 

E1 Enterprise Operations
This paper addresses several functional areas of business, and introduces candidates to the economic, social and political contexts of international business. Learning requirements for the sections dealing with information systems, operations, marketing and managing human capital will alert students to major developments, and tools and techniques.

Subject breakdown:

The global business environment (20%)

Information systems (20%)

Operations management (20%)

Marketing (20%)

Managing Human Capital (20%)

 

F1 Financial Operations
This paper's core objectives are preparation of full financial statements for a single company and the principal consolidated financial statements for a simple group. Coverage of a wide range of international standards is implicit in these objectives. The understanding the regulatory and ethical context of financial reporting is vital. Principles of taxation are also included.

 

Subject breakdown:

Principles of business taxation (25%)

Regulation and ethics of financial reporting (15%)

Financial accounting and reporting (60%)

 

By completing this level you will develop decision making and management skills, as well as expertise in technical accounting matters required to operate effectively as a management accountant.

Exam sequence

Must I complete my operational level subjects before starting with the management level subjects?

No, but CIMA advises students to pass the operational level paper before attempting the management level paper in the same pillar.
It is possible for students to study and sit an operational paper in one pillar and a management paper in another pillar. Students must pass all operational and management subjects before attempting the strategic level.

Assessment

Exams are conducted in May and November of each year. Resit exams for P1 in March and September are currently being piloted in UK and ROI and may be held in South Africa shortly.

 

There is a three hour written exam paper, plus 20 minutes of pre-exam reading time, with three sections: 

Section A 20 marks: a variety of compulsory objective test questions, each worth between two and four marks. Mini scenarios may be given, to which a group of questions relate.

Section B 30 marks: six compulsory short answer questions, each worth five marks. A short scenario may be given, to which some or all questions relate.

Section C 50 marks: one or two compulsory questions. Short scenarios may be given, to which questions relate.

Assessment dates are in May and November.

Pass marks

The pass mark for each subject is 50%. Permanent credit is awarded for any paper where candidates score 50% or more.

Award

Upon completion of all operational level subjects, you will be awarded the CIMA Diploma in Management Accounting.