CMA Part 1 Visual Prep Financial Reporting, Planning, Performance and Control Recently Updated ----- CMA Part 1 Contents are recently updated based on official curriculums, A. External Financial Reporting Decisions 15% Preparation of financial statements: balance sheet, income statement, statement of changes in equity, statement of cash flows; valuation of assets and liabilities; operating and capital leases; impact of equity transactions; revenue recognition; income measurement; major differences between U.S. GAAP and IFRS. Topics Tested: – Financial Statements – Recognition, Measurement, Valuation and Disclosure B. Planning, Budgeting and Forecasting – 30% Planning process; budgeting concepts; annual profit plans and supporting schedules; types of budgets, including activity-based budgeting, project budgeting, flexible budgeting; top-level planning and analysis; and forecasting, including quantitative methods such regression analysis and learning curves. Topics Tested: – Strategic Planning – Budgeting Concepts – Forecasting Techniques – Budgeting Methodologies – Annual Profit Plan and Supporting Schedules – Top-Level Planning and Analysis C. Performance Management – 20% Factors to be analyzed for control and performance evaluation including revenues, costs, profits, and investment in assets; variance analysis based on flexible budgets and standard costs; responsibility accounting for revenue, cost, contribution and profit centers; and balanced scorecard. Topics Tested: – Cost and Variance Measures – Responsibility Centers & Reporting Segments – Performance Measures D. Cost Management – 20% Cost concepts, flows and terminology; alternative cost objectives; cost measurement concepts; cost accumulation systems including job order costing, process costing, and activity-based costing; overhead cost allocation; operational efficiency and business process performance topics such as JIT, MRP, theory of constraints, value chain analysis, benchmarking, ABM, and continuous improvement. Topics: – Measurement Concepts – Costing Systems – Overhead Costs – Supply Chain Management – Business Process Improvement E. Internal Controls – 15% Risk assessment; internal control environment, procedures, and standards; responsibility and authority for internal auditing; types of audits; and assessing the adequacy of the accounting information system controls ---- Visual Prep Provides you three learning options. * Visual Mode * Training Mode * Student Mode Learn, Train and Pass your exam on the first attempt, Visual Prep Passing rate is more than 98% App Features: ---- * Latest Update * Three Learning Modes * Verified Contents * Save/Bookmark Unlimited Questions * Lifetime Updates FREE * Test Taking Strategy * Testing Log * Review Your Exam * Friendly Interface * Works without Internet Connection * Dynamic and Static Content Updates FREE * Trusted by Industry Professionals ---- LEGAL NOTICE: WE ARE NOT affiliated with any testing agency, certificate, test name or any trademark. All Trademarks are the property of respected trademark owners.