Management Accounting

P1 stresses the importance of costs and the drivers of costs in the production, analysis and use of information for decision making in organisations.

  • The time focus of P1 is the short term. It covers budgeting as a means of short-term planning to execute the strategy of organisations.
  • In addition it provides competencies on how to analyse information on costs, volumes and prices to take short-term decisions on products and services and to develop an understanding on the impact of risk to these decisions.
  • P1 provides the foundation for cost management and the long-term decisions covered in P2.


  • Format: Computer Based Objective Test
  • Availability: On Demand at Pearson VUE centres
  • Length: 90 minutes
  • Pass mark: 70%

Objective Tests are comprised of a range of items including short multiple choice questions, number entry questions, drag and drop questions and other formats. They test all component learning outcomes across the whole subject.

Syllabus structure

Weight Syllabus topic
30% A. Cost accounting systems
25% B. Budgeting
30% C. Short-term decision making
15% D. Dealing with risk and uncertainty







Course Information

This Objective Test course will comprise a comprehensive tuition phase followed by a question practice day to go through step by step exam technique, culminating in a timed mock.

It will be offered as either weekday or a combination of evening & weekend.


All course materials will be provided, including Textbook, Revision Kit, Passcards and Vale FT course notes.

Classroom Course
  • Integrated Tuition: 5 days
  • Question Practice : 1 day
  • Mock: invigilated & marked with feedback