CIMA P2 Advanced Management Accounting Exam

Exam Objectives:

• Analyze and evaluate costs and cost management systems
• Evaluate performance management and measurement systems
• Analyze and manage financial risk
• Evaluate strategic and tactical pricing decisions
• Evaluate and advise on decisions relating to capital investment
• Evaluate the impact of corporate restructurings on financial performance

This exam is ideal for those who are looking to advance their careers in management accounting and finance. Candidates who have completed the CIMA Certificate in Business Accounting or hold a relevant degree are eligible to take this exam. It is also recommended that candidates have a strong foundation in financial accounting principles, as well as some practical experience in management accounting or finance.

Related Books:

• CIMA P2 Advanced Management Accounting Exam Practice Kit by Jo Avis
• CIMA P2 Advanced Management Accounting Exam Study Text by Kaplan Publishing
• CIMA P2 Advanced Management Accounting Exam Questions and Answers by P2 Publishing

Exam Details:

• The cost of the P2 exam varies by location, but is typically around $300 USD.
• The passing mark for the P2 exam is 50%.
• The exam is three hours long and consists of three sections.
• The exam is delivered in a computer-based format and can be taken at a Pearson VUE test center or remotely.
• The format of the exam includes multiple-choice questions, short-answer questions, and longer case studies.

To succeed in the P2 Advanced Management Accounting exam, it is important to thoroughly understand the exam objectives and topics covered, and to practice applying your knowledge to real-world scenarios. Using study materials such as the related books listed above can be extremely helpful in preparing for the exam. Additionally, developing strong time management skills and practicing answering exam-style questions can help you to feel more confident and prepared on exam day.

It is important to note that in addition to studying the exam objectives and topics covered, it is also important to understand the exam format and process. Taking practice exams under exam-like conditions can help you to get a sense of the pacing and types of questions you can expect on the actual exam.

When studying for the P2 exam, it can be helpful to focus on developing your ability to analyze and evaluate financial information, and to understand how this information can be used to inform business decisions. This includes being able to identify and evaluate the costs associated with different business activities, as well as understanding how performance measurement and management systems can be used to drive organizational success.

You should also focus on developing your understanding of financial risk management, including how to identify and assess different types of risk, as well as how to develop and implement risk management strategies. This can include understanding the use of financial derivatives, such as options and futures, as well as the role of insurance and other risk transfer mechanisms.

Finally, it is important to develop your ability to evaluate strategic and tactical pricing decisions, as well as decisions related to capital investment. This can include understanding the use of discounted cash flow and other valuation techniques, as well as the impact of different financing options on the overall cost of capital.

Overall, the key to passing the P2 Advanced Management Accounting exam is to have a strong understanding of the exam objectives and topics covered, as well as to practice applying your knowledge to real-world scenarios. By doing so, you can develop the skills and confidence you need to succeed on exam day.