Premium Essay

Cima P2

In: Business and Management

Submitted By kiaki
Words 12353
Pages 50
Notes
CIMA Paper P2
Management Performance
For exams in 2013

theexpgroup.com

CIMA P2 Performance Management

ExPress Notes

Contents
About ExPress Notes
1. 2. 3. 4. Pricing and Product Decisions Cost planning and analysis Budgeting and Management Control Control/Performance Measurement of Responsibility Centres

3
7 22 31 37

Page | 2

© 2013 The ExP Group. Individuals may reproduce this material if it is for their own private study use only. Reproduction by any means for any other purpose is prohibited. These course materials are for educational purposes only and so are necessarily simplified and summarised. Always obtain expert advice on any specific issue. Refer to our full terms and conditions of use. No liability for damage arising from use of these notes will be accepted by the ExP Group.

theexpgroup.com

CIMA P2 Performance Management

ExPress Notes

START About ExPress Notes
We are very pleased that you have downloaded a copy of our ExPress notes for this paper. We expect that you are keen to get on with the job in hand, so we will keep the introduction brief. First, we would like to draw your attention to the terms and conditions of usage. It’s a condition of printing these notes that you agree to the terms and conditions of usage. These are available to view at www.theexpgroup.com. Essentially, we want to help people get through their exams. If you are a student for the CIMA exams and you are using these notes for yourself only, you will have no problems complying with our fair use policy. You will however need to get our written permission in advance if you want to use these notes as part of a training programme that you are delivering. WARNING! These notes are not designed to cover everything in the syllabus! They are designed to help you assimilate and understand the most important areas for the exam as quickly as…...

Similar Documents

Premium Essay

Cima

...CIMA Gateway Assessments Post Exam Guide May 2012 General Comments The paper was reasonably well attempted by some candidates, the A1 candidates achieving the best average mark overall. However, the performance of many candidates was quite poor. It is advised that candidates familiarise themselves with the content of the syllabus and ensure that they acquire the relevant study materials. They should also ensure that adequate time is spent in preparation for the examination. It was evident from the marking process that many candidates were ill prepared for the examination. SECTION A – 75 MARKS ANSWER ALL THREE QUESTIONS Question 1 (a) Prepare a statement showing the difference in profits that would be earned by RTY from its RT product for the year commencing 1 April 2012 if it changed to a JIT production system. (10 marks) (b) (i) Calculate the average direct labour cost per batch of the first eight batches. (2 marks) (ii) Calculate the direct labour cost of the eighth batch. (3 marks) (iii) Prepare a statement showing the contribution expected from this new product over its lifetime, assuming that the selling price remains at $75 per unit. (5 marks) (iv) Explain Kaizen costing and how it may be used by RTY to increase the contribution it earns from the new product during its lifetime. (5 marks) (Total for Question One = 25 marks) Rationale This question examines several learning outcomes from Section B of the Performance Management syllabus. Part (a) examines learning......

Words: 3456 - Pages: 14

Free Essay

P2, Stakeholders

...P2: Describe the different stakeholders who influence the purpose of two contrasting businesses. What are stake-holders? Stake-holders are any individuals, organizations and companies’s interested in the business section and are affected by the business activities. Internal stake-holders are groups within the business; On the other hand, External stake-holders are those outside the business, for example, the community. Internal stake-holders consist of: Owners: Interested in making profit and are most likely to look in to the topic of how much profit is made with in the business. Managers: Concerned about gaining and earning a good salary. Workers: Wanting to keep their jobs and earn high pay. External Stakeholders are: Customers: Wanting Quality products at Reasonable pricing. Community: Hold a position in the business as employers of local people. Alongside this, the activity’s of business’s also have an affect on the surrounding environment and environment it self. Suppliers: who want the business to keep buying their products and materials in order to run. Money lenders: Who want repaying on time. Different stake-holders have different aims and objectives in which conflicts can arise. A small business has Primary stake-holders which are considered important. Those are the owners, managers, workers and customers. Where as, the large company have share-holders which are considered to be the primary stake-holders, they are enabled to vote out and in who......

Words: 1023 - Pages: 5

Premium Essay

Unit " P2

...Joseph Jones P2 describe the main employability, personal and communication skills required when applying for a specific job role. In this task I will be writing about the main employability, personal and communications skills required to be a P.E teacher. The main employability skills required to be a P.E teacher are that they actually have the required qualifications for the desired role. If they do not have the qualifications to be a P.E teacher then there is no way at all that they would be employed by anyone to teach P.E. The fact that an employee has the required qualifications shows that they have the desire to work hard in order to get the job and it shows that they care about their future and they want to succeed. Other employability skills that employers look for is previous experience in a similar role, employers look for experience in specific roles as if they are experienced in the certain role then they will know what they are doing in the job. Another employability skill that employers look for is the ability to observe standards and the ability to further raise them standards. This is key for the job as a P.E teacher as P.E teachers are always expected to raise the standard of physical education within the schools that they teach. Other generic employability skills that employers would look for are punctuality, honesty, and fairness. These skills are required in every job. The main personal skill that an employer will look for in a P.E teacher is......

Words: 400 - Pages: 2

Premium Essay

Cima Verbs

...any of these will make it difficult to pass an exam, another very common reasons for getting poor marks within the exam lies in misinterpreting the verb. Firstly, let’s look at verbs in the syllabus… The syllabus Each syllabus section contains a series of learning outcomes. These are the things that you might be asked to do in the exam. If there isn’t a learning outcome, there can’t be a question in the exam. In addition, the learning outcomes set an upper limit in the skill level for that area of the syllabus. Let me explain… Every learning outcome uses a verb, or verbs, from the approved hierarchy published with the syllabus (see Figure 1). This hierarchy gives a brief definition for each verb, but also ranks it in one of five CIMA February 2010 1 levels. Although the hierarchy is upside-down, it’s fairly obvious that the ‘level 5’ verbs are a lot more difficult to do than those at ‘level 1’. The hierarchy is also meant to be progressive so, as you learn, you work your way ‘up’ the hierarchy (from level 1 to wherever), increasing your skill level as you go. Why do I say ‘to wherever’? Because there is no need to go further than the verb used in the appropriate learning outcome. Let me demonstrate… Illustration A In section A of the syllabus for paper F1 (Financial Operations) you will find the learning outcome “explain the difference in principle between tax avoidance and tax evasion”. The verb “explain” is at ‘level 2’ in the verb hierarchy, so......

Words: 3438 - Pages: 14

Premium Essay

Business P2

...P2 Product: First of all Hublot Company started the new promotional campaign where they are selling new product called ‘Dallas Cowboys’ watch collection. They have produced three different watches: Hublot Dallas Cowboys Classic Fusion watch in titanium (they are classier), Hublot Dallas Cowboys Classic Fusion in titanium and ceramic (for the ladies), Hublot Dallas Cowboys King Power in ceramic (these are sportier). They have produced only 150 pieces for their new promotion. Their quality I known to be one of the best in the world on the same level with Rolex and Breitling. In this collection they have a variety of watch which are made of Titan, Semi-ceramic, and Ceramic, but they are mostly have the same colour which is the colours of Dallas Cowboys Team. Their style is unique because their watch is very elegant and sophisticated. Price: Hublot watch is a luxury handmade timepieces, here is example of the prices: Packaging: Hublot Company pack their products very safe as the watch is very valuable and therefore they package it in a high protection suitcase which will not damage the watch even if they fell on the ground. The also give their customer warranty. For the promotion they are going to pack their watch into the special package relevant to the theme. People: People are very important in producing Hublot watches as every part of watch is handmade, therefore employees should be very skilled and well trained. They should be able to produce a high......

Words: 565 - Pages: 3

Free Essay

Cima

...CIMA Dates & Prices 2015 CIMA is changing. So are we, with your success in mind. From 2015 CIMA will be changing the structure of the syllabus and how the papers are examined. We have liaised with CIMA over the past 18 months to enhance our educational experience in line with those changes so you will not only be able to study more effectively, but are also in the best position to pass your exams. New for 2015 – BPP Momentum Our programmes see the launch of BPP Momentum – an exciting approach to learning that recognises that everyone, and the way they learn, is different. BPP Momentum puts you at the centre, giving you more flexibility, more personalisation, more support, more value and more confidence. At the heart of BPP Momentum is competency-based learning; it means you will learn by doing. By progressively gaining knowledge, practicing what you have learned and testing as you go, you will build your competence gradually and be in the best position to pass your exams. The more you attempt, the more you will be able to identify your weaker areas and with the range of support offered by BPP Momentum you will understand how to improve. Together we will ensure you succeed. Regardless of how you choose to study and whatever level you are at, BPP Momentum enhances every element of your learning experience, and our range of structured study schedules offers you the flexibility to control your own progression. Our new programmes have been designed with your success in mind,...

Words: 11622 - Pages: 47

Premium Essay

P1. P2

...Roles and Skills of an Events Organiser For this piece of work I will be explaining the role and describing the skills required by an events organiser; with this piece of work I will be claiming P1 and P2. I am taking part in organising an event in my business class and we have split ourselves into three teams and we have chosen what type of event we are going to organise; we have chosen to plan an afternoon tea. Our event is going to be a fundraising event because we are going to send all our profits to a charity. I have carried out some research on finding out what the role of an events organiser are and what skills they use; this research is made up of internet research and class discussions. What is an Events Organiser? An events organiser is someone who organises an event and they have many different responsibilities; they are responsible for the planning of the event all the way through to the completion of the event. Their events can range from exhibitions, to conferences, to product launches. An events organiser will work with people in different sectors and their work is usually done within a team and is hand-on. They must be able to have a wide range of skills because they will have to complete a wide range of activities; time keeping and working under pressure is an essential as it is these skills that mean an event will be able to run smoothly and efficiently. What are the Roles of an events Organiser? The role of an events organiser will change......

Words: 2454 - Pages: 10

Premium Essay

P2,P3

...Daisy Campbell 387949 p2/p3 The effects of discrimination and discriminatory practices in health and social care. The types of discriminatory practices Infringement of rights> To not respect a person/groups rights, to not let that person/group practices their chosen culture religious belifes.This can make the group or person feel devalued and could also affect their health. Example1>A nurse working with her co-workers feels downtrodden as all of her co-workers that she works closely with are christains.As they do not share the same religious beliefs they do not let her practices her religious beliefs around them, as they only respect their own beliefs and no others. This can lead to the nurse to suffer low self-esteem and isolated from her co-works who are not treating her equally. Example2> Jane has moved to a new care home where she is starting her new job, While on her shift she hears her co- worker discussing openly another services users confidently file and is now gossiping about her findings. The same lady also prevents the services user she is gossiping about from watching TV programmes she enjoys .This could cause the service user to become withdrawn from engaging with others and joining in on activates in the care home. Covert discrimination>This can be a health professional who is treating an individual differently...

Words: 4087 - Pages: 17

Premium Essay

Cima Mountaineering

...Recommendations for Cima Mountaineering: There are essentially following five options available to Cima Mountaineering as explained below: Alternative 1: Maintain status quo. This option is not being selected because it ignores the current market trends in the face of changing customer needs and wants. Also such an option does not address any of the issues presently facing Cima. Alternative 2: Enter the Weekender segment as suggested by Margaret Simon. This option appears to be an attractive alternative, but it may put Cima’s Brand name and image as a manufacturer of quality shoes for Mountaineers and Hikers in jeopardy. Alternative 3: Expand the presence in the current market segment by adding three new models to the existing ones as suggested by Anthony Simon. While this will further consolidate the company’s position in its already established market, it lacks the powerful growth that the company desires. Alternative 4: Adopt a combination of Alternatives 2 and 3. This seems to by a powerful alternative is it will enable the Company to get benefitted by the strong growth opportunities available in the weekenders, practical users, fashion seekers and children segments while further strengthening the Company’s position in its traditionally strong segments. The possible drawback of dilution in the Company’s brand image is proposed to be offset by creation of a new brand for the new range as explained in details later in this note. A careful planning and proper......

Words: 1579 - Pages: 7

Premium Essay

Cima

...Case: CIMA Mountaineering In the mid-90s there was $600 million in sales for hiking and mountaineering boots. That same year CIMA had $13 million in sales. This equated to only 2% of the market where CIMA boots are considered as the best available product in the market. With the growth of the company being a priority, we believe that developing a third strategy using points mentioned by Anthony to extend the existing lines of boots for mountaineers and hikers, along with a new women’s line, to include implementing substantial changes to product innovation and distribution. It is important to develop an innovative new line which is a more economical model in the hiker category for the weekender, designed for the consumers looking for a “casual-stylish” boot. CIMA has built its brand reputation as a valuable and high quality boot, therefore building differentiation by creating loyalty with their customer base. They have develop a winning product in its category with a good reputation, therefore they should avoid over-reaching. By developing these two models in our existing profitable segment, CIMA’s reputation would grow stronger and be perceived as if we are moving into a “good-to-great” product design. The idea of introducing the inexpensive boots within the hiker category will help consumers move from the “beginner to the experienced” level with the same brand that provides quality, comfort and performance throughout the way. CIMA will hire a designer that understand the......

Words: 553 - Pages: 3

Premium Essay

Ict P2

...Benefits of E-commerce P2 Global Marketplace * Global marketing allows a broader cliental base. * which in turn brings in more sales. * Also increasing age range of clients exponentially.  Benefits of E-commerce24/7 Trading * This mean you are always Open for business losing clients to your opposing businesses * Always being open also means a greater income as your ever open to more clients on a boarder scale combined with global market place as the peak times of England me stop some other contrary may be just waking up and you still largely in demand  Benefits of E-commerce Low Start -up & Running Costs * It’s cheaper to start a website than it is shop, this makes the investment risk considerable smaller * Maintaining a shop requires a greater amount of effort time and money compared with a website where it can take you from anything from 20 to 35minutes  Benefits of E-commerce Search Facilities * Search facilities allow you to find what it is you want within seconds of going onto the site instead of walking around a store for 15 minutes and trying to find it yourself, this time consuming and also tedious Fluid Pricing * Re-pricing stock is a very time consuming activity in a shop, in larger shops it can take up the best part of a day with multiple employees having to do it manually, on a website it’s a very simple task as all you have to do is type the changes in and it is much more efficient and......

Words: 355 - Pages: 2

Free Essay

Cima

...Operational case study exam – February 2016 Pre-seen materials – Students’ copy February 2016 Operational case study examination Pre-seen materials First Class Bakery Contents 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Introduction Products Production Customers Distribution/suppliers/recycling Employees Financial statements Information and costing systems The industry News articles ©CIMA 2015. No reproduction without prior consent Page 2 3 7 10 12 13 15 19 20 21 Page 1 Operational case study exam – February 2016 Pre-seen materials – Students’ copy Introduction First Class Bakery manufactures cakes and desserts which are packaged and sold directly to food retailers. All production is carried out on a single site in the west of Beeland, a country that has B$ as its currency. Most of the cakes manufactured are for large food retailers who sell the cakes as their own brand. First Class Bakery packages the cakes using the brand required by each retailer. Some cakes and desserts are sold to small independent food retailers under First Class Bakery’s own brand. All sales are made in Beeland, in B$. First Class Bakery was established over 30 years ago by three brothers: John, James, and Frank Mitchell. The three brothers owned and ran the business until recently when 80% of its equity shares were sold to Universal Foods, a large group quoted on Beeland’s stock market. The two older brothers John and James retired from the......

Words: 5533 - Pages: 23

Premium Essay

Cima 05

... H8032-Prelims.QXD 7/1/06 11:08 AM Page i CIMA’S Official Learning System CIMA Certificate in Business Accounting, 2006 Syllabus Certificate Level Fundamentals of Ethics, Corporate Governance and Business law David Sagar Larry Mead Philippa Foster Back H8032-Prelims.QXD 7/1/06 11:08 AM Page ii CIMA Publishing is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA 01803, USA First edition 2006 Copyright © 2006 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone (ϩ44) (0) 1865 843830; fax (ϩ44) (0) 1865 853333; e-mail: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http://elsevier.com/locate/permissions, and selecting Obtaining Permission to use Elsevier material Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. British Library Cataloguing in......

Words: 249182 - Pages: 997

Premium Essay

Gbc Cima

...the programme, but in practice he had limited authority. His area of experience was in scripted comedy programmes, where the quality of the script usually determined the success of the programme, rather than his skills as a programme director. He wanted to make a move into programme making on his own to further satisfy his creative desires. He is very artistic and creative and has also won TV programme awards and admits that he is no good at managing budgets. Following a chance meeting with Steve Voddil in 2003, and subsequent planning meetings, they both formed the idea of establishing VYP as an independent TV programmemaking company, which became operational in 2004. Finance Director – Janet Black ACMA Janet Black, aged 36, is a CIMA qualified accountant who has worked in a number of industries and was the Finance Director for a small music video production company before she joined VYP. The Non-executive Chairman, who had heard of her tough reputation, recruited her based on a recommendation. Janet Black has to work alongside talented artistic people, most of whom have a weak understanding of the financials and who often are not interested in controlling costs. This was just the type of person that Steve Voddil and John Young recognised they needed for the company they were setting up. They recruited Janet Black and gave her a small shareholding in the company. She has proved her worth over the last 7 years and has instilled good financial control over......

Words: 8625 - Pages: 35

Premium Essay

Cima

...Qualification structure and syllabus CIMA Chartered Management Accounting Qualification 2010 December 2008 Contents CIMA now designs its qualifications in what we believe to be a unique way. Based on rigorous international primary research with all of our key stakeholders and involving the participation of over 6,000 individuals and organisations – members, students, employers (both existing and potential), CIMA tuition partners, universities and our examiner and marker team – we have designed a professional finance training and development solution that is second to none. I commend this revised CIMA Professional Qualification to you. It will be examined for the first time in 2010, so there is plenty of time to absorb the exciting changes contained in the pages that follow. A qualification focused on the future – fit for purpose, relevant and unique I am honoured to introduce the new 2010 Chartered Management Accounting Qualification to all of our stakeholders. With seismic shifts occurring in the world’s economy, coupled with accelerating concerns about the sustainability of our planet, never before has there been a greater need for organisations to train and develop their people to manage the impact of these changes. With this revised qualification CIMA remains true to its long and proud history of providing finance professionals with a difference – Chartered Management Accountants – who combine management and finance skills in a unique way and who fully......

Words: 22006 - Pages: 89