P1 Textbook Syllabus
Chapter 1
Syllabus A. Cost Accounting For Decision And Control
A1. Different Rationales For Costing
A2. Costing Concepts
A3. Costing Methods
- Absorption Costing
- Absorption and Marginal Costings
- The Concept Of Contribution
- Profit or Loss
- Reconcile The Profits Or Losses
- Calculating and Interpreting a TPAR
- Activity Based Costing (ABC)
A3. Standard Costing
- Standard Costs
- Methods Used To Derive Standard Costs
- Materials Total, Price And Usage Variances
- Labour Total, Rate And Efficiency Variance
- Variable Overhead Total, Expenditure And Efficiency Variance
- Fixed Overhead Total, Expenditure, Volume, Capacity And Efficiency Variance
- Sales Price And Volume Variance
- Sales Mix and Quantity Variances
- Planning and Operational Variances for sales
- Planning and Operational Variances for material & labour
- Backwards Variances
- Investigating variances
Chapter 2
Syllabus B. Budgeting
B1. Different Rationales For Budgeting
- Why Organisations Use Budgeting
- Planning And Control Cycle
- Stages In The Budgeting Process
- Motivation In Performance Management
- Impact of External Factors on Budgeting1:09
B2. Prepare Budgets
- Types of Budgetary Systems
- Principal budget factor
- Sales & Functional budgets
- Master budgets
- Cash Budgets
B2. Preparing Forecasts
- Time series - Components
- Methods of finding the trend
- Moving Averages
- Additive And Multiplicative Models
- Time Series Analysis Advantages
- Linear Regression2:29
- ‘What if’ analysis
- High/low analysis
B3. Budgetary Control
- Fixed Budgets
- Flexible Budgets In Control
- Flexed Budgets
- The Concepts Of Feedback
- Responsibility Accounting
- Controllable And Uncontrollable Costs
- Ethical Implications Of Budgeting
Chapter 3
Syllabus C. Short-term Decision Making
C1. Product Mix Decisions
All subject exam questionsC2. Relevant Costing
All subject exam questionsC3. Short-Term Decisions
All subject exam questionsC3. Break-even Analysis
- Break-even analysis
- Break-Even Point and Margin of Safety
- Multi-Product Situations
- Limitations and Technology
- Break-Even Charts and Profit Volume
Chapter 4