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CIMA P2 · Advanced Management Accounting

Everything you need to pass CIMA P2.

Covers advanced costing systems, transfer pricing, performance measurement in divisional structures, advanced budgeting, and risk analysis. £149 on its own, or all four Management subjects for £369, with lifetime access. P2 is on demand, so you book it when you are ready.

Buy P2 · £149See the Management Level Pass Pack
Modern tuition Real mock exams Feedback on every mock
  • 60 questions
  • 90 minutes
  • On demand book it when you are ready
  • £149 on its own, lifetime access

A word from your tutor

Nick Drape, VIVA’s Advanced Management Accounting specialist

Nick Drape, VIVA tutor
Advanced Management Accounting

P2 is, for most people, the hardest Objective Test on this level. Advanced management accounting asks you to choose and defend a technique, not just execute one, and that judgement only comes from doing a lot of questions.

The course is built accordingly: full mock exams, marked question by question, with an explanation that shows the specific decision you got wrong rather than just the topic. That distinction matters enormously in P2.

Give it the time it deserves. Sat second, with F2 still ahead of you, it usually gets that time.

Nick Drape Advanced Management Accounting tutor

The syllabus

What P2 covers.

P2 Advanced Management Accounting deepens your cost management expertise into transfer pricing, advanced budgeting techniques, performance measurement frameworks (Balanced Scorecard, KPIs), and risk. It equips you to design and operate management accounting systems at a divisional or group level.

  • Transfer pricing: domestic and international
  • Divisional performance measurement (ROI, RI, EVA)
  • Advanced budgeting: beyond budgeting, rolling forecasts
  • Environmental and life-cycle costing
  • Risk management in management accounting
  • Balanced Scorecard and strategic performance measurement

The course, section by section

7 sections · 121 lessons · 20h 7m of video

  1. 01 Preparing for Objective Test exams 1 module5 lessons44m of video
    1. Objective Test Success 5 lessons 44m
      1. Introduction 2m
      2. Background of Objective Tests 10m
      3. Format of Objective Test exams 9m
      4. Exam preparation 9m
      5. Exam day approach 14m
  2. 02 P2 Subject overview 1 module5 lessons59m of video
    1. P2 Overview Videos 5 lessons 59m
      1. P2 overview - introduction 12m
      2. P2 overview - managing the costs of creating value 13m
      3. P2 overview - capital investment decision making 14m
      4. P2 overview - managing and controlling organisational performance 11m
      5. P2 overview - risk and control 9m
  3. 03 A. Managing the costs of creating value 3 modules23 lessons4h 9m of video
    1. Analysing and managing costs 7 lessons 1h 35m
      1. Traditional absorption costing 17m
      2. Activity based costing - part 1 14m
      3. Activity based costing - part 2 19m
      4. Activity based costing - part 3 10m
      5. Activity based management - part 1 5m
      6. Activity based management - part 2 15m
      7. Activity based management - part 3 15m
    2. Quality management 9 lessons 1h 41m
      1. Total quality management - part 1 15m
      2. Total quality management - part 2 8m
      3. Costs of quality 14m
      4. Just in time (JIT) - part 1 14m
      5. Just in time (JIT) - part 2 5m
      6. Theory of constraints - part 1 15m
      7. Theory of constraints - part 2 11m
      8. Theory of constraints - part 3 12m
      9. Theory of constraints - part 4 7m
    3. Value management 7 lessons 53m
      1. Target costing - part 1 8m
      2. Target costing - part 2 5m
      3. Target costing - part 3 10m
      4. Value chain - part 1 9m
      5. Value chain - part 2 3m
      6. Lifecycle costing - part 1 12m
      7. Lifecycle costing - part 2 6m
  4. 04 B. Capital investment decision making 4 modules37 lessons6h 18m of video
    1. Data for decision making 6 lessons 53m
      1. Decision making process - part 1 9m
      2. Decision making process - part 2 5m
      3. Relevant cash flows 13m
      4. Opportunity costs 3m
      5. Sources of data 15m
      6. Information analysis and presentation 8m
    2. Project appraisal 15 lessons 2h 40m
      1. Project appraisal - part 1 17m
      2. Project appraisal - part 2 8m
      3. Discounted cash flow techniques - part 1 12m
      4. Discounted cash flow techniques - part 2 9m
      5. Discounted cash flow techniques - part 3 13m
      6. Discounted cash flow techniques - part 4 9m
      7. Discounted cash flow techniques - part 5 6m
      8. Net present value - part 1 11m
      9. Net present value - part 2 7m
      10. Internal rate of return - part 1 8m
      11. Internal rate of return - part 2 10m
      12. NPV: taxation, working capital, inflation - part 1 18m
      13. NPV: taxation, working capital, inflation - part 2 13m
      14. NPV: taxation, working capital, inflation - part 3 5m
      15. NPV: taxation, working capital, inflation - part 4 14m
    3. Further aspects of project appraisal 6 lessons 1h 13m
      1. Modified internal rate of return 18m
      2. Equivalent annual costs - part 1 11m
      3. Equivalent annual costs - part 2 17m
      4. Capital rationing - part 1 9m
      5. Capital rationing - part 2 7m
      6. Real options 11m
    4. Pricing strategies 10 lessons 1h 32m
      1. Price elasticity of demand 15m
      2. Cost based pricing - part 1 9m
      3. Cost based pricing - part 2 10m
      4. Market based pricing - part 1 6m
      5. Market based pricing - part 2 7m
      6. Market based pricing - part 3 8m
      7. Optimal pricing - part 1 9m
      8. Optimal pricing - part 2 10m
      9. Optimal pricing - part 3 9m
      10. Optimal pricing - part 4 9m
  5. 05 C. Managing and controlling the performance of organisational units 3 modules29 lessons4h 30m of video
    1. Decision making in responsibility centres 8 lessons 56m
      1. Divisionalisation and decentralisation - part 1 10m
      2. Divisionalisation and decentralisation - part 2 5m
      3. Responsibility centres - part 1 6m
      4. Responsibility centres - part 2 4m
      5. Controllability - part 1 8m
      6. Controllability - part 2 8m
      7. Reporting 5m
      8. Big data 10m
    2. Performance measurement 12 lessons 2h 17m
      1. Financial performance indicators 17m
      2. Responsibility centres 8m
      3. Investment centre ratios 12m
      4. Return on capital employed 10m
      5. Return on investment 6m
      6. Residual income 5m
      7. ROI and RI continued 17m
      8. Economic value added - part 1 10m
      9. Economic value added - part 2 6m
      10. Non financial performance indicators 10m
      11. Balanced scorecard 17m
      12. Benchmarking 19m
    3. Transfer pricing 9 lessons 1h 17m
      1. Transfer pricing basics 11m
      2. Transfer pricing objectives 3m
      3. Market based and opportunity cost approach - part 1 12m
      4. Market based and opportunity cost approach - part 2 9m
      5. Market based and opportunity cost approach - part 3 8m
      6. Cost based transfer prices 8m
      7. Dual pricing and two part tariffs 10m
      8. Negotiated transfer prices 3m
      9. Transfer pricing and taxation 13m
  6. 06 D. Risk and control 2 modules22 lessons3h 27m of video
    1. Risk and uncertainty 16 lessons 2h 20m
      1. Defining risk and uncertainty 3m
      2. Sensitivity analysis 13m
      3. Expected values 11m
      4. Perfect information - part 1 7m
      5. Perfect information - part 2 7m
      6. Risk appetite - part 1 4m
      7. Risk appetite - maximax, maximin and minimax regret - part 2 8m
      8. Risk appetite - part 3 5m
      9. Joint probabilities 9m
      10. Standard deviation and coefficient of variation - part 1 10m
      11. Standard deviation and coefficient of variation - part 2 10m
      12. Normal distribution tables - part 1 11m
      13. Normal distribution tables - part 2 13m
      14. Normal distribution tables - part 3 8m
      15. Decision trees 13m
      16. Conditional probabilities 8m
    2. Analysis and management of risk 6 lessons 1h 7m
      1. Types of risk 12m
      2. Risk mapping 9m
      3. CIMA code of ethics 13m
      4. Ethical threats 7m
      5. Corporate social responsibility 9m
      6. Information systems 17m
  7. 07 Mock exams 3 full mocks, then more on demand
    • Mock Mock 1 60 questions in 90 minutes, marked instantly
    • Mock Mock 2 60 questions in 90 minutes, marked instantly
    • Mock Mock 3 60 questions in 90 minutes, marked instantly
    • Mock More mocks on demand A new paper from the question bank whenever you want one, up to 5 a day

Modern tuition

Expert video, with a tutor in every lesson.

Built and taught by people who have lectured this material for years, with an AI Tutor sitting inside each lesson to answer the question you have right now.

  • Experts Former Kaplan and BPP lecturers and academics from major UK universities.
  • AI Tutor Ask a question inside the lesson and get an answer grounded in that lesson.
  • Pick up where you left off Your progress is saved lesson by lesson, so you always come back to the right place.

Real mock exams

Sit P2 before you sit P2.

Full timed mocks in the real format: 60 questions in 90 minutes, drawn from a large question bank, in an exam-style interface.

  • The real format Same question count, same clock, same kind of interface.
  • From a bank, not a booklet Three mocks to start, then a new one whenever you want it, each assembled from a large question bank rather than a fixed paper.
  • Timed The clock runs. Pacing is half the exam.

Feedback on every mock

Know which topics have landed.

A mock does not stop at a percentage. Every question comes back with an explanation, grouped by syllabus section, so you can see what to go back to.

  • Marked instantly No waiting, no tutor queue.
  • An explanation for every question Right or wrong, you see why.
  • Grouped by section So a weak section is obvious, not buried in a score.

The Management Level

P2 is one of the three Objective Tests on the CIMA Management Level, with E2 and F2. CIMA lets you sit them in any order, and the MCS once all three are passed.

See the full Management route →
  1. E2 Managing Performance
  2. P2 Advanced Management Accounting You are here
  3. F2 Advanced Financial Reporting
  4. MCS Management Case Study

Personalised CIMA pack

Finish CIMA from £349 a level, with lifetime access as standard.

Tell us which CIMA subjects you have already passed, or are exempt from taking. We have pre-ticked everything CIMA requires before P2 - adjust it if that is not you.

Step 1 of 2

First, what have you already passed?

Tick what you've passed or been exempted from - we'll only show what's left.

Operational Level
Management Level
Strategic Level

Exempt from a whole level through your degree? Use Tick all on that level.

Questions

The things students ask before buying.

What does the P2 course include?

Expert-led video lessons across the whole syllabus with an AI Tutor in every lesson, and full timed mock exams online (60 questions, 90 minutes, drawn from a large question bank): 3 to start and a new one whenever you want it, each marked instantly with an explanation for every question. £149, lifetime access.

How is P2 examined?

60 objective test questions in 90 minutes. It is on demand, so you book it when you are ready rather than waiting for a window.

Do I need to pass P2 before the other Management Objective Tests?

No. CIMA lets the three Management Objective Tests be sat in any order. All three must be passed before the MCS.

What if I buy one subject and want more later?

You only ever pay the difference. Add subjects at any time and the price you already paid comes off the bigger pack, so you never pay twice for the same course.

How long do I have access?

Lifetime access, on every course. There is no subscription and no renewal - if you need to resit, or come back to the material years later, it is still there.

Ready for a clearer route to your P2 exam day?

Get through your exams.
Get on with your life.

Take P2 on its own, or add it to the subjects you have left.

Buy P2 · £149