Thursday, 16 April 2015

CIMA Boss Commends Sponsorship of ACOA 2015

CIMA Boss Commends Sponsorship of ACOA 2015
Africa Regional Director for the Chartered Institute of Management Accountants (CIMA), Samantha Louis, welcomed the designation of Certified Management Accountant World (CGMA) Gold sponsorship of the Pan Africanist Congress of Accountants (ACOA) 2015 to be held in Mauritius from 12 to 14 May 2015.

The CGMA is a global designation formed through a joint venture CIMA and the American Institute of Certified Public Accountants (AICPA).

According to Louis, CIMA is "very pleased to sponsor CGMA ACOA Oro 2015 offers us a unique opportunity to present this global accounting designation throughout the continent and the international business community.

"Since 2012 CIMA has changed the rules for counting the one hand, with the launch of the CGMA designation and now with the release of accounting principles that seek to promote global management strongly ACOA Conference 2015," Louis said.

Jointly developed by the AICPA and CIMA, the principles are the first of a kind of blue print and Chief professionals to improve decision-making. They were developed based on extensive research with leaders of 35 countries, which revealed that organizations worldwide are struggling with data overload, dispersed workforce and the rate of change of blisters.

The four principles focus on decompartmentalise through communication of influence, emerging the most relevant and reliable data information for review; analysis reveals the impact on the value of the organization and conduct promoting integrity and trust that protects the long-term viability.

Louis added: "We believe that the widespread adoption of the principles will ensure that organizations have the leadership to strengthen and improve the function of management accounting within their organizations, which is so important for CIMA CGMA and to be among opinion leaders attending the ACOA 2015. "

CIMA, founded in 1919, is a leading and largest professional organization of management accountants with over 227,000 members and students in 179 countries, working in the heart of the business. CIMA members and students work in industry, commerce, the public sector and nonprofit organizations.

Monday, 13 April 2015

Cima P1 Exam Question No 10

Question No 10:

A company manufactures a single product. The cost card for a unit of this product is as follows:
During month 6, finished goods inventory increased by 350 units.






By how much would the profit differ in month 6 if finished goods inventory was valued at standard marginal cost rather than standard absorption cost?

A. $1,050 lower
B. $1,050 higher
C. $2,450 lower
D. $2,450 higher

Answer: A

Friday, 10 April 2015

Cima P1 Exam Question No 9

Question No 9:

In short-term decision making, which TWO of the following are relevant costs?

A. Sunk costs
B.
Avoidable costs
C.
Committed costs
D.
Opportunity costs
E.
Notional costs
Answer:
B, D

Sunday, 5 April 2015

Cima P1 Exam Question No 8

Question No 8:

Which one of the following would NOT be included in a decision to close a division of an organization?

A. Head office overheads absorbed on the basis of the number of units produced
B.
Sale of unwanted non-current assets
C.
Redundancy pay for employees of the division
D.
Fixed costs directly attributable to the division

Answer:
A

Sunday, 29 March 2015

Cima P1 Exam Question No 7

Question No 7:

Which of the following would cause an adverse fixed overhead volume variance?

A. Actual output was higher than budgeted
B.
Actual output was lower than budgeted
C.
Actual expenditure was higher than budgeted
D.
Actual expenditure was lower than budgeted

Answer: B

Monday, 23 March 2015

Cima P1 Exam Question No 6

Question No 6:

What type of budget is prepared on an annual basis taking current year operating results and adjusting them for expected growth and inflation?

A. Rolling budget
B.
Incremental budget
C.
Flexed budget
D.
Zero-based budget

Answer:
B

Wednesday, 18 March 2015

Cima P1 Exam Question No 5

Question No 5:

N prepares budgets on an annual basis by using the budget from the previous year, and then adjusting it for growth and inflation.
This is an example of:

A. An incremental budget
B.
A rolling budget
C.
A flexed budget
D.
Zero based budgeting

Answer:
A