Latest CIMA-OCS Questions Answers

CIMA’s Diploma in Management Accounting Certification

The Operational Level focusses on short-term decision-making. You’ll be able to work with others in your organization and use appropriate data and technology to translate medium-term decisions into short-term actionable plans.

Managing Finance in a Digital World

• Role of the finance function
• Technology in a digital world
• Data and information in a digital world
• Shape and structure of the finance function
• Finance interacting with the organization
• The central role that finance plays in an organization, and how and why technologies used impact the finance function.
• How to use and examine data collected and processed by machines to create and preserve value for organizations.
• How the finance function is structured and shaped, and how it interacts with other parts of the organization to achieve the objectives of the whole organization.

Management Accounting

• Cost Accounting for decision and control
• Budgeting and budgetary control
• Short-term commercial decision making
• Risk and uncertainty in the short term
• Why costing is done and what it is used for, including appropriate costing methods and techniques and where digital costing might be used.
• How budgets are prepared and implemented across the organization, the impact these have, and how techniques are applied to ensure sound short term decision making, against a backdrop of risk and uncertainty, by using appropriate risk management tools.

Financial Reporting

Regulatory environment of financial reporting

Financial statements

Principles of taxation

Managing cash and working capital

• Who the regulators are, what they do and why and how regulations are applied.
• How to prepare basic financial statements using financial reporting standards.
• How to distinguish between types of taxes, calculate corporation taxes and issues affecting taxation.
• What tools are used to ensure that the organization has enough cash to ensure its continuing operations.