This module deals with the basic techniques for the identification and control of costs and cost management. It introduces the context of management accounting in commercial and public sector bodies and its wider role in society. It identifies the position of the management accountant within organisations and the role of CIMA.

This module covers the preparation of financial statements for single entities. These statements are constructed within a conceptual and regulatory framework requiring an understanding of the various valuation alternatives, the role of legislation and of accounting standards. Being able to apply accounting techniques and systems enables the preparation of accounts for different types of operations and for specific transactions. There is an introduction to measuring financial performance with the calculation of basic ratios. The need to understand and apply necessary controls for accounting systems, looking at internal control and the nature of errors and fraud, is also covered.

This module deals with the tools and techniques to understand the mathematics associated with managing business operations. Probability and risk play an important role in developing business strategy. Preparing forecasts and establishing the relationships between variables are an integral part of budgeting and planning. Financial mathematics provides an introduction to interest rates and annuities and to investment appraisal for projects. Preparing graphs and tables in summarised formats and using spreadsheets are important in both the calculation of data and the presentation of information to users.

This module deals with the economic context of business and how competition, the behaviour of financial markets, and government economic policy can influence an organisation. It also provides the key microeconomic techniques underlying price determination and profit maximisation decisions. The focus of this syllabus is on providing candidates with an understanding of the areas of economic activity relevant to an organisation’s decisions

This module covers the areas of contract law, employment law, financing, administration and management of companies. The globalisation of business is recognised by the inclusion of alternative legal systems, as well as the English legal system. Judicial precedent is included in relation to professional negligence. Wherever business is conducted, the highest professional standards must be demonstrated for the benefit of all stakeholders. With this in mind, the place of ethics and ethical conflict is considered, as well as the role of corporate governance and its increasing impact in the management of organisations.