What are the objectives of this course?
The P2 Performance Management course contributes to the attainment of the CIMA Professional Chartered Management Accounting qualification.
- Understand the implications of cost and revenue, with regards to pricing and product decisions. Learn the principles of decision-making and understand the conflict issues that can arise during decision-making processes, and how to deal with them effectively.
- Learn how to analyse short-term pricing and product decisions, and how uncertainty and risk can impact decision models using CVP analysis.
- Get to grips with pricing strategies, and understand the financial consequences that are involved, including profit maximisation, market skimming and product bundles.
- Learn how to evaluate techniques for analysing and managing costs to ensure competitive advantage. Compare and contrast functional cost analysis and value analysis.
- Learn how to prepare cost of quality reports, and understand and apply the key elements of Pareto analysis.
- Understand the principles that contribute to the use of budgets in control, including the concept of responsibility accounting and the various controllable and uncontrollable costs that can be encountered.
- Learn how to evaluate performance-using budgets, using ratio analysis, ‘what if’ scenarios and using both fixed and flexible budget reports.
- Apply your knowledge of budgets in control to more diverse managerial issues.
- Learn more about the structure of an organisation, and the implications that it has on responsibility accounting.
- Apply decision-making knowledge that you have acquired to scenarios suitable for cost centre managers and investment centre managers.
- Gain insight into the consequences that can occur following the division of an organisation into responsibility centres.
Who is it intended for?
This course will be very beneficial to you if you want to add practical performance management skills to your CV or portfolio of skills.
Students will need to have first attained the CIMA Operational qualifications before they can move on to the CIMA Management Level training.
What marks this course apart?
As a qualified Management Accountant, you can expect to earn a salary around £32K with further prospects leading to Financial Controller, Finance Director, Finance and Administration Manager.
What happens after requesting information?
Once you have enquired you will be contacted by one of our specialist careers advisors who will be able to provide you with any further information you require.
Program taught in: