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What is the official CIMA terminology for Management Accounting?
What is cost accounting?
What is meant by operational and tactical and strategic decisions ?
What is the comparison between management and financial accounting?
What is CIMA’s deification of financial accounting?
What are the main elements of management accounting?
What roles of a management accountant do CIMA give?
What is meant by ‘cost’?
What is meant by a cost unit?
What is meant by a cost centre?
What are cost objects?
How can costs be classified?
How are costs classified by behaviour?
What is CIMA definition of a fixed cost?
What is meant by stepped fixed costs?
What is a variable cost?
What are curvilinear variable costs?
What is meant by a semi variable cost?
What is the high low method?
What needs to be considered when using the high low method for stepped fixed costs?
How can costs be classified according to element?
How can costs be classified by function?
How can costs be classified by nature?
What are indirect costs split into?
What is meant by the cost transformation model?
What is the aim of absorption costing?
What is key to product costs and period costs?
What is the difference between marginal and absorption costing?
What types of overhead are there?
What is the process for accounting for overhead costs in an absorption costing system?
What different absorption bases can be used?
What is key to OAR.
What is key to predetermined absorption rates?
What is key to over/ under absorption when using predetermined OARs?
What are the advantages of absorption costing?
What are the disadvantages to absorption costing?
What is key to absorption costing in the SOPL?
What is meant by marginal costing?
What is the contribution concept?
What are the advantages to marginal costing?
What are the disadvantages to marginal costing?
What is key to marginal costing in the statement if profit or loss?
When reconciling profits, how can the use of absorption/ marginal costing make a differec to profit?
What considerations are there for pricing strategies are there based on cost?
What is cost plus pricing?
What are advantages of using full cost plus pricing (absorption costing)?
What are disadvantages of using full cost plus pricing (absorption costing)?
What is key to marginal cost plus pricing?
What are benefits to using marginal cost pricing (rather than full cost)?
What are the criticisms of marginal cost pricing..
What is meant by profit margin?
What is absorption costing based on and why is it a problem in modern production environments?
What issues are there with absorption costing in modern business environments?
What are the issues with marginal costing in a modern business environment?
What is key to ABC (Activity Based Costing)?
What is a cost pool (for ABC)?
What is a cost driver (for ABC)?
How can activities be identified for ABC?
How can cost drivers be identified?
How do you calculate the full production cost per unit using ABC?
What is key to the relevance of ABC?
What is meant by the makeup of overhead costs in ABC?
What are the advantages of ABC
What are the disadvantages of ABC?
What is the CIMA definition of ABC?
What are the implications of switching to ABC?
What are the methods of joint cost apportionment?
What is key to costing systems?
What costing methods are there for costing systems?
What is meant by joint product costing?
What is meant by a joint product compared to a by product?
What are the methods for joint cost apportionment?
How can by-products be accounted for when looking at joint products?
What is meant by throughput accounting?
What is meant by throughput?
What is meant by investment?
What is meant by operating expenses?
What is key to profit reporting and throughput?
What is meant by super variable costing?
What impacts does throughput accounting have on a management accounting system?
What is meant by a bottleneck?
How should you approach a multi-product decision making problem?
What throughput accounting measures?
What is key to the throughput ratios?
How can throughput accounting ratios be interpreted?
What is a criticism of throughput accounting?
How can digital products be costed?
What is meant by a digital product?
Why are digital products often more difficult to cost than traditional products?
What types of costs associated with maintaining and operating apps post development need considering?
What typical costs and cost patterns may there be in digital product costing (1-5 of 9)
What typical costs and cost patterns may there be in digital product costing (6-9 of 9)
What is key to a digital costing system?
What are the features of digital costing systems (1-4 of 7)?
What are the features of digital costing systems (5-7 of 7)?
What is meant by a system of ‘target costing’?
What is meant by standard costing?
What is key to standard costing and prices?
What are the four types of standard?
What is meant by an attainable standard?
What is meant by a basic standard?
What is meant by a current standard?
What is an ideal standard?
What is key to standard costing in modern business environments?
What is meant by variance analysis?
What is key to sales variances?
How can sales volume variance (in units) be measured?
What could cause sales price variances?
What could cause sales volume variances?
What is key to materials variances?
What are CIMA definitions for the material variances?
What is meant by direct material price variance?
What is the direct material useage variance?
What are potential causes of material variances?
How can inventory valuation impact material variances?
What are the labour variances?
What is the direct labour total variance?
What are the official CIMA definitions for the labour rate variances?
What is key to the direct labour rate variance?
What is key to the direct labour efficiency T vairance?
What is key to idle time and idle time variances
What is meant by expected idle time?
What are possible causes of labour variances?
What are meant by variable overhead variances?
What can variable production overhead total variance be split into?
What is the variable production overhead expenditure variance when there is idle time?
What is the fixed production overhead cost variances?
What is key to the fixed production overhead total variance?
How is under/ over absorption considered with standard costing Systems?
What is meant by the fixed production overhead expenditure variance?
What is key to fixed production overhead volume variance?
What are fixed overhead capacity and efficiency variances?
What are potential causes for fixed and variable overhead variances?
What are the possible independence’s between variances?
What is key to operating statements?
How can ABC costing be used for variacne analysis?
What is key to sales mix and quantity variances?
What is meant by the standard mix?
What is key to valuation when looking at sales mixes?
What is the individual unit method?
What is the weighted average contribution method?
How is the sales quantity variance calculated?
What are benefits of mix and quantity variances?
What are the problems of mix and quantity variances?
What is key to planning and operational variances?
What is key to planning variances?
What is key to operational variances?
What causes are there of planning variances?
What are the benefits and problems of planning variances?
What is the purpose of budgets?
What are advantages of budgeting?
What are disadvantages of budgeting?
What challenges are the for budgeting in global companies?
What is meant by the master budget and the functional budgets and the budget period?
What is meant by the principal budget factor?
What are the stages for budget production?
What is key to the different budgets?
What is key to the raw materials budget?
What is the key to the direct labour budget?
What is the key to overhead budgets?
What is the cash budget?
What is a cash forecast?
What should a cash budget typically include?
How can forecasts be prepared from planned receipts and payments?
Why do cash recipes and payments differ from sales and cost of sales in SOPL?
How should planned receipts and payments be laid out when preparing forecasts?
How can cash budgets be interpreted?
What is meant by the master budget?
How can budgets undergo sensitivity analysis and stress testing?
What can be considered sources of business stress?
What is key to budget data?
What is key to big data?
What is key to big data and AI?
What problems are there in using big data?
What is meant by a periodic budget?
What is meant by a rolling budget?
What are the reasons for rolling budgets?
What are the advantages and disadvantages of rolling budgets?
What is meant by incremental budgeting?
What are advantages and disadvantages of incremental budgeting?
What is meant by zero based budgeting (ZBB)?
What is ZBB suitable for?
How is ZZB implemented adopted?
How is ZBB adopted?
What are the advantages and disadvantages of ZBB?
What is meant by activity based budgeting?
What are the advantages and disadvantages of ABB?
What is meant by beyond budgeting?
What are advantages and disadvantages of beyond budgeting?
What is key to forecasts?
What is the high-low method for forecasting?
What is key to linear regression (in terms of a forecasting model)?
What is key to correlation (particularly for regression analysis)?
What is meant by the correlation coefficient?
What is the coefficient of determination?
What are the limitations to simple linear regression?
How can forecasts be adjusted for inflation?
How can index pricing adjust costs/ revenues?
How can the high low method be used with inflation considered?
What is key to time series analysis?
