Tag Archives: P2 Advanced Management Accounting

CIMA P2 Exam Tips

CIMA P2 Syllabus

CIMA P2 Syllabus

The CIMA P2 exam is a tough one to crack as there are lots of calculations to consider as well as some more complicated theory. However, having passed the P1 exam already you will have the platform already to build on your knowledge and successfully pass the CIMA P2 exam first time!

I found that syllabus section C: Long-Term Decision Making can feature quite heavily in the exam, as the subjects are easy to test in the objective tests. i.e. calculations on NPV, IRR and payback etc.

So make sure you spend enough time practising these types of questions in your revision!!

CIMA P2 Study Text

Before you get started with your CIMA P2 Advanced Management Accounting studies you should be aware that Astranti offer free online study texts and I found them a great way to study on the go (as well as for free!).

You can pick up a free online version of the CIMA P2 study text here.

CIMA P2 – Net Present Value and IRR

As I mentioned in the opening paragraph, I feel there are certain areas of the P2 syallabus that are easier to examine. And one of these areas are Net Present Values and Internal Rate of Return, as they are calculation based.

NPV’s are relatively straight forward but IRR (and MIRR) can be trickier to understand but the below video explains these discounted investment appraisal techniques in more detail.

CIMA P2 Study Planner

Fail to plan is planning to fail. <— said a wise person.

With this in mind, you should really make sure you plan your CIMA P2 studies to ensure;

  • You have enough time to cover the whole P2 syllabus.
  • Have 2-3 weeks of revision and mock exam practice at end.
  • Schedule your exam date so you have a target and motivation to study.

This is all common sense stuff really but if you struggle to plan your time effectively then you should take advantage of the CIMA P2 Study Planner direct from the CIMA connect site. It will help you stay on track and ensure you reach the milestones along the way.

CIMA Mock Exams

Once you have covered the whole syllabus, the key to passing any CIMA exam is make sure your have enough exam practice under your belt. I use a mixture of the Kaplan exam practice kits and the practice tests academy online mock exams.

Making sure you can handle the P2 exam in real exam conditions will give you confidence to handle the exam on exam day.

CIMA P2 Exam Strategy

I’d also suggest to have a “strategy” on how to approach the exam as you will be under time pressure and you need to be smart with your time. I’ve mentioned this several times on different blog posts but the video from CIMA below explains a great way how to approach the CIMA objective tests.

The CIMA Student Advice

You can read how I passed the CIMA P2 exam here for my full thoughts on how I passed the exam; but to be honest it was one of the tougher exams for me as I was exempt from P1 due to the transition from to 2015 Syllabus but nevertheless it is still possible to pass the exam first time.

There are no shortcuts though.

You must put in the hours in terms of covering the syllabus, testing your knowledge and having the right exam preparation in terms of real mock exam practice in exam conditions.

But there are also lots of resources out there that can help you, use the CIMA Connect Site to engage with other students and look through the CIMA P2 technical articles.

I often found these articles a great way to get my head around theory I couldn’t quite grasp from my study text.

CIMA Connect and P2 Technical Articles

For example; login to CIMA connect and select the study resources for CIMA P2 Advanced Management Accounting;

  • Select; Article and
  • Lead Learning Outcome; C2 Discuss Pricing Strategies
  • And it will show give you a link to a CIMA technical article on the subject.

2018-03-21 10_45_53-Study resources _ CIMAconnect

It’s a great resource that can often be overlooked by students.

Happy Studying CIMA P2 and Good Luck!

CIMA Study Prime: P2 Course

I’ve decided to go down the route of using the CIMA Study Prime course for my next upcoming exam – P2 Advanced Management Accounting.

Although I used the Astranti materials to great effect when passing my last exam (E2) first time with a scaled score of 121, I wanted to see what else was on the market and the official study materials from CIMA seemed like a good fit.

Having started work on the P2 course a couple of weeks I thought I would share my thoughts on the CIMA Study Prime course so far.

CIMA Study Prime P2 Course

For those of you not familiar with the course contents, here is what I got when I enrolled on the P2 CIMA Study Prime course earlier this year.


The main reason I choose the course was for the 120 hours of e-learning content – which I feel I will need with the P2 exam as most student experiences I’ve read from the CIMA connect site have been negative and stories of students struggling to pass this paper!

All of the other features and content of the course is an added bonus for me at this point. But I also like the idea of having tutor support by email or phone (within 24 hours) so if I am really struggling with something, then I can reach out for advice.

Another reason why I chose the CIMA Study course is the fact they are partnered with Kaplan and I always purchase the Kaplan exam practice kit for each paper I am sitting, so I know the structure and format of the study texts and exam kits included in this course.

First Impressions of CIMA Study Prime

Firstly, I was pleased to receive an email and invitation for an introductory web session to formally get an understanding of all of the materials included in the course.
The introductory webinar also gave those who attended a chance to submit questions to the host about the course contents and what to expect.

What was particularly useful, was the Study Guide 2016. This document gives you a 7-8 week plan on how to cover the Study Units in the course with the final 3-4 weeks on revision and exam question practice.

CIMA Exam Tips

There are two approaches to studying the course contents.

  1. You can use the Online Study Text 2016 provided, which covers all of the syllabus in the usual text book structure.
  2. Or, like I am choosing to do, is to use the Study Units as a base for your studies rather than going through the study text page by page.

Study Units

The advantage (I hope!) by using the study units rather than the study text is the variation of the materials and content. So far I have completed the first three study units and have been very impressed! Here are my thoughts on what I like and what I don’t like!

CIMA Study do state that the whole syllabus is covered in the study units but it’s just a different way to digest the information.

The below screenshot is an example of one of the study units for the P2 Advanced Financial Performance course.

CIMA Study Prime P2 Course

The Good

  • The content is clear, in-depth and easy to understand.
  • There are links and further reading on each area, so you can delve further into the subject if you are struggling to understand it.
  • The variation of study methods i.e. text, graphics, interactive video and review questions makes it a brilliant resource.
  • At the end of each study unit there is a 45 minute exam question to go through with the suggested answer – while there is also a summary of the topics covered and what you should have learnt.

The Bad

  • I noticed a few typo’s in the text with some of the example questions and answers, which took me a little while to re-read and understand there was a typo!
  • Not very mobile friendly – it would be brilliant if you could access the CIMA Study Prime course via a mobile app. But sadly, that’s not the case.

So far, so good with the CIMA Study Prime Course and I’ll update my progress as I go further into the course.

You can find out more information from CIMA directly on their CIMA Study courses here.

P2: Useful Links and Resources


The CIMA P2 Advanced Management Accounting syllabus has a well balanced range of subjects that builds on your learning from the P1 paper. Its primary focus is on long term and whereas P1 gave you a handle on costs and their drivers, P2 provides the competencies needed to analyse, plan and manage costs.

While it also shows how to manage and control various units in line with short term budgets and long term strategy. It’s a tough paper so here are some useful links and resources that will get on you on your way.

Useful Links and Resources

CIMA Connect P2 group – if you want to pass the CIMA P2 exam then I would suggest you get familiar with the CIMA connect group for Advance Management Accounting. CIMA provide tons of resources, advice and group discussion.

Astranti Managerial Membership – Free Study Text 2015 – Astranti provide free study texts for ALL of the CIMA  papers and I use them as a base for my exam preparation. They are easy to digest and can be accessed anywhere with an internet connection.

Astranti P2 video series – easy to navigate set of videos that covers and gives you an introduction to the P2 syllabus. You can also find these videos for E2 and F2.

Using BIG DATA to reduce uncertainty in decision making – great article from the CIMA website regarding a relatively new topic in the syllabus.

Acorn Financial Training – Acorn provide class room tuition and home study materials. You can get an extra 10% off ALL of the acorn materials (including P2). Here can find the full the list of materials they offer and to claim the 10% discount please email thecimastudent[at]gmail.com with the items you wish to order.

If you have any additional resources you would like to share with other students for the P2 CIMA paper then please then a link in the comments box below.