Dr John's Certified Management Accountant Exam 1 Preparation
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Dr John's Certified Management Accountant Exam 1 Preparation

You will be well prepared to pass the Certified Management Accounting Exam #1. Many helpful hints and practice quest
4.3 (26 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1,503 students enrolled
Created by John Mclellan
Last updated 9/2017
English
Price: $200
30-Day Money-Back Guarantee
Includes:
  • 5 hours on-demand video
  • 34 Articles
  • 72 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand which learning objectives will be tested by the IMA on Part 1 exam for the Certified Management Accounting designation. There are helpful hints as to what will be on exam and many practice questions in areas that the IMA will test.
View Curriculum
Requirements
  • Should take an introductory financial accounting course like Dr John's Financial accounting to prepare you for The MBA..
Description

The goal of this course is to prepare you to successfully pass the IMA exams and achieve your Professional Certified Management Accounting Designation.  For additional information follow me on twitter Dr John@the_acct_coach. Here are some student comments about this course:

"Very informative and at a pace i can understand. " Mary Grace Warner 

" Sample tests in final session were very good and helped me identify areas where I needed to study up more. I don't know my test score yet but I feel that I have a good chance of passing because Dr. John's course did help a lot.....hopefully Dr. John will create a Part 2 CMA and I will sign up for UDEMY too." Bradley Koga

The course begins by first understanding how a professional organization such as the Institute of Management Accountants of America sets and marks the exams that lead to the professional designation as a Certified Management Accountant,

I am developing and will continue to develop courses that will prepare you to pass the Part 1 Exam  offered to university graduates by the Institute of Management Accountants in America.

I earned my CMA 40 Years ago. I have taught CMA courses and consistently had an 85% to 90% pass rate. One year it was 94%. I have marked thousands of CMA final accreditation exams.

Passing CMA exams will not be easy.

Obtaining your CMA designation - believe me - will pay you BIG dividends for the rest of your career. It did for me.



Who is the target audience?
  • The IMA oiffers their two exams towards a CMA designation to people who have a valid undergraduate degree in any discipline. Of course if you have a BA in business you would have covered many of the learning objectives.
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Curriculum For This Course
123 Lectures
05:39:00
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Introduction to Part1 of the Certified Management Accounting Exam
5 Lectures 15:55

How to proceed through this course.

1) Get the textbooks I recommend - from a library.

2) Read the IMA learning outcomes to be tested for each section.

3) Try and answer the questions I pose.

4) Read the answers to each question that I have developed.

5) Answer the past IMA multiple choice questions for this section and check your answers.

6) The final section is on how to present your essay answers.

Preview 03:13

An insight into Professional exams are put together;

Preview 05:15

Knowing the three levels on MCQ's that the CMA uses on their exams gives you an advantage

Preview 04:01


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Module 1 - Planning, Budgeting and Forecasting ( 30 % of Exam)
0 Lectures 00:00

Try these past CMA exam multiple choice questions. 

Questions 1-5 are conceptual questions and 6-10 are computational questions.

The computational questions are worth more marks - so spend a little more time working out the answers.

Pre-Test on material in this section on Budgeting
10 questions
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Module 1 - Lectures of Budgeting, Planning and control
3 Lectures 14:59

This lecture is a short video on all topics in Section B. Planning, Budgeting and Forecasting. Print off the the IMA Learning Outcomes for Section B - Budgeting that I have restated as questions for you to research.

This section is most important - 30% of MC questions will be in this area. Also a case question will likely be on budgeting - so know the learning objectives in section B 5.

Try and answer the Master Budget Critical thinking questions.

Introduction
01:26

An introductory video on Strategic Planning along with extensive notes on the topic. Read the relevant chapters in Horngren. Chapter 13 for example. Use the "Strategy learning Outcomes as questions" for this section B1, research the questions and create your own answers to those questions, You can check what past candidates have produced as answers for this section.

Strategic Planning
02:31

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Module 1- Resources -IMA Learning Outcomes to be tested in this section
12 Lectures 35:48

These are answers to the questions developed from the IMA learning outcomes. In Resources are a pdf file you can download.

Preview 06:50

 These questions will likely be Level A questions testing your understanding of strategic planning concepts

Test Your Understanding on Strategic Planning - Conceptual MCQ's
8 questions

Understand the role that budgeting plays in the overall planning and performance evaluation process of an organization
Preview 01:46

These are answers to the questions developed from the IMA learning outcomes. In Resources are a pdf file you can download.

Preview 08:31

Test Your Understanding Video
01:59

Be able to prepare budgets on the basis of information presented

IMA Learning Outcomes on Budget Methodologies
01:20

Answers to Budgeting Methodologies
00:00

Test Your Understanding on Budget Concepts- Conceptual MCQ's -
10 questions

Be able to demonstrate an understanding of a simple regression equation

and demonstrate an understanding of learning curve analysis

and calculate the results under a cumulative average-time learning model

IMA Learning Outcomes on Forecasting Techniques
01:33

This section is most important

Be able to:

Identify the role that inventory levels play in the preparation of a production budget and define other factors that should be considered when preparing a production budget

prepare a production budget

demonstrate an understanding of the relationship between the direct materials budget, the direct labor budget, and the production budget

explain how inventory levels and procurement policies affect the direct materials budget

CMA Learning Outcomes on Annual profit Plan and Supporting Schedules
02:54

Answers on Annual Profit Planning
08:23

Be able to:

a. define the purpose of a pro forma income statement, a pro forma balance sheet, and a pro forma statement of cash flows; and demonstrate an understanding of the relationship among these statements and all other budgets

b. prepare pro forma income statements based on several revenue and cost assumptions

c. evaluate whether a company has achieved strategic objectives based on pro forma income statements

IMA Learning Outcome on Top Level Planning
01:28

Answers on Top Level Planning
00:00
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Module 1 B - Resources for Budgeting Planning & Control
5 Lectures 12:52
Demonstration Problem on Cash Budgeting
01:22

Purchasing Budget Question
03:13

Demonstration Problem on Purchasing Budget
01:22

Budget Income Statement Question
02:33

Master Budget Critical thinking questions
04:22
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Module 1 - Activities to deepen your understanding
18 Lectures 04:41
Game on Strategic Planning
00:58

Game: Master Budget
00:00

Game: Understanding Budget Formulas
00:00

Game: Budget statements to be completed
00:00

Forecasting using linear regression problem
00:41

Past IMA Problems on Learning Curves
01:06

Tool Time Master Budget Problem
00:00

Tool Time Excel Template
00:00

Tool Time Excel Solution
00:00

Test Your Understanding

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Test your Understanding on Forecasting Techniques- Conceptual MCQ's
2 pages

Test Your Understanding

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Test Your Understanding on Budgeting Methodologies - Conceptual MCS
2 pages

Computational questions are worth many more marks than conceptual questions

Test Your Understanding Budgeting - Computational MCQ's
5 questions

Test Your Understanding

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Test Your Understanding on Budget Concepts
1 page

Challenging Direct Material Purchasing Budget Problem
01:53

Test Your Understanding

Here is a small multiple choice quiz for you to practice. Download a copy, print off and try it. Then check the answers

Test our Understanding on Annual Profit Planning
2 pages

Comprehensive Case Problem - Al Ain Products
00:00

Al Ain Products Excel Template
00:00

Al Ain Check Figures
00:00

Al Ain Case Solution
00:00
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Module 2 - Performance Management ( 20% of questions on the exam)
0 Lectures 00:00

Questions 1-5 are conceptual and questions 6 - 10 are computational and worth more marks on a CMA Exam.

Pre-Test on Performance Evaluation
10 questions
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Module 2 - Performance Management Lectures
6 Lectures 43:36
Budget Control
08:46

Responsibility Accounting
04:16

Variance Analysis
08:52

Activity Based Costing
13:36

Customer Profitability
04:40

Lecture on Value added and non value added activities
03:26
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Module 2 - Resources for Performance Measuremen
14 Lectures 47:29
IMA Learning Outcomes to be tested
00:00

Explain the difference between a static budget and a flexible budget. Explain what is meant by a static budget variance and a flexible budget variance.

Section 1 - Cost and Variance Measures
03:45

Demonstration problem on Flexible Budgeting
01:48

Demonstration Problem on Variance analysis
04:25

Test Your Understanding of Variance analysis
7 questions

Demonstration Problem on Standard cost Variances
01:58

Be able to:

a. identify and explain the different types of responsibility centers

b. recommend appropriate responsibility centers given a business scenario

c. calculate a contribution margin

d. analyze a contribution margin report and evaluate performance

Section 2 - Responsibility Centres
01:57

Demonstration Problem on Responsibility Accounting
01:57

Notes on the Balanced Scorecard
03:13

Notes on Responsibility Accounting
00:00

Test Your Understanding of Responsibility Centers
5 questions

Notes on Transfer Pricing
05:32

Test Your Understanding of Transfer Pricing
5 questions

Section 3 - Performance Measures
02:50

Notes on Performance Methods
03:10

Test Your Understanding of ROI & EVA
9 questions

Demonstration Problem on Activity Based Costing
10:30

Two ABC Problems Demo
06:24
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Module 2 - Activities to deepen your understanding on performance Measurement
12 Lectures 03:10
Game on Cost Pools & Cost Drivers
00:00

Game on ABC Concepts
00:00

Game on Responsibility Accounting
00:00

Game on Responsibility Accounting Concepts
00:00

Game on Variance analysis
00:00

Game on Standard Costs
00:00

Activity Based costing Problem & Solution in excel
00:00

Activity Based case #2
00:00

Two Activity Based Problems.xlsx
00:01

Variance analysis & Flexible budget problems & Solutions
00:00

Standard Cost Problems & Solutions
00:00

Past IMA questions on Performance Measurement
03:05
6 More Sections
About the Instructor
John Mclellan
4.4 Average rating
150 Reviews
4,910 Students
13 Courses
Accounting Professor

I am a Professor of Accounting with over thirty-five years experience teaching accounting to college students, undergraduate and MBA university students as well as CMA candidates seeking to earn their Professional Certified Management Accountant Designation.

I achieved my Certified Management Accountant Designation 40 years ago. With that I then earned my Masters of Business Administration degree and later a PHD in accounting.

I have developed and will continue to develop a number of courses in both Financial Accounting and Management Accounting for you - a college or university student (or even a secondary student) to help you to achieve the best result in your undergraduate accounting course. If you get an "A" from me I guarantee you will get an "A" from your accounting prof.

For Graduate students, I have a course to prepare those of you who do not have a business degree for the Masters of Business Administration. Also I have a course at the masters level called Managerial Accounting.

For CMA Candidates, I have courses to prepare you to successfully pass their Certified Management Accounting Exams offered by Institute of Management Accountants.


Dr. John