Part 1: Financial Planning, Performance and Control
- Includes access to the Online Test Bank, which contains over 850 multiple-choice questions
- Multiple-choice question feedback helps CMA candidates focus on areas where they need the most work
- Prepare for the actual CMA exam with Section Practice Tests and a cumulative Part 1 exam
- Assess your progress with knowledge check questions/answers and sample essay questions
- Looks at basic budgeting concepts and forecasting techniques
- Deals with the methods of comparing actual financial performance to the budget
- Helps candidates prepare a solid study plan with exam tips
Feature section examines the topics of Planning, Budgeting and Forecasting, Performance Management, Cost Management, Internal Controls, and Professional Ethics
Based on the CMA body of knowledge developed by the Institute of Certified Management Accountants (ICMA), Wiley CMA Learning System Exam Review 2013 features content derived from the exam Learning Outcome Statements (LOS). Passing the CMA exam on your first attempt is possible. We'd like to help.
IMA, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 65,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, NJ, USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.
Table of Contents:
Acknowledgements of Subject Matter Experts ix Candidate Study Information xi
How to Use the CMA Learning System® xv
Create a Study Plan xix
Introduction 1
Section A
Planning, Budgeting, and Forecasting 3
Topic 1: Budgeting Concepts 5
Topic 2: Forecasting Techniques 23
Topic 3: Budgeting Methodologies 47
Topic 4: Annual Profi t Plan and Supporting Schedules 59
Topic 5: Top-Level Planning and Analysis 87
Practice Questions: Planning, Budgeting, and Forecasting 105
Section B
Performance Management 115
Topic 1: Cost and Variance Measures 117
Topic 2: Responsibility Centers and Reporting Segments 151
Topic 3: Performance Measures 163
Practice Questions: Performance Management 191
Section C
Cost Management 201
Topic 1: Measurement Concepts 203
Topic 2: Costing Systems 229
Topic 3: Overhead Costs 261
Topic 4: Operational Effi ciency 279
Topic 5: Business Process Performance 297
Practice Questions: Cost Management 313
Section D
Internal Controls 325
Topic 1: Risk Assessment, Controls, and Risk Management 327
Topic 2: Internal Auditing 349
Topic 3: Systems Controls and Security Measures 363
Practice Questions: Internal Controls 383
Section E
Professional Ethics 389
Topic 1: Ethical Considerations for Management Accounting and
Financial Management Professionals 393
Practice Questions: Professional Ethics 405
Essay Exam Support Materials 407
Essay Exam Study Tips 411
Examples of Essay Question Answers 413
Practice Essay Questions and Answers 423
Answers to Section Practice Questions 481
Appendix A: ICMA Learning Outcome Statements—Part 1 545
Bibliography 557
Registration for the Wiley CMA Learning System Exam Review 561
Index 565
