CMA Exam 1 Study Program - Section B - Planning. Budgeting

Master the learning objectives that will be tested by the CMA for Part 1 Section B
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  • Lectures 27
  • Length 41 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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About This Course

Published 9/2016 English

Course Description

This course is a companion course to the course "Know how to be successful in writing  the CMA Exam #1 MCQ's". The same learning outcomes are covered for the section on Budgeting and Planning  but the information is presented in a different fashion. I use two live URL links - Socrrative - on which I will post past exam questions as  tests to deepen your understanding of the concepts and Brainrush - where I have taken the concepts and put them into a "game" format.

This course will further your preparation for the exam. The Planning. Budgeting and Forecasting  section of Part 1 Exam multiple choice questions  will be 30% of the one hundred multiple choice questions on the exam.

I will continue to develop more in-depth material for the othe four sections.

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. I prepared this program years ago to mentor many candidates like yourself who are now CMAs.
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.

What are the requirements?

  • Management accounting Textbook

What am I going to get from this course?

  • Get a passing mark on the multiple chose questions in part 1 of the CMA exam
  • You will be well on your way to Becoming a Certified Management Accountan
  • This section is worth 30% on the multiple choice section of the exam and would also likely be the material covered in one of the two essay questions.

What is the target audience?

  • You must have a university degree.

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Know how to work through this study program
05:25

The material that will be covered and tested on the exams is rather extensive. For part 1, there are over 500 learning outcomes covering both financial accounting and management accounting concepts. However some concepts are more important than others and these are the ones that are consistently tested. We will cover all learning outcomes but will focus most of our efforts on the often tested concepts. You will need to have access to a couple of textbooks: Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D., Intermediate Accounting, 15 th edition, Wiley & Sons, Hoboken, NJ, 2011. AND Horngren, Charles T., Datar, Srikant, and Rajan, Madhav, Cost Accounting: A Managerial Emphasis, 14 th edition, Prentice-Hall, Upper Saddle River, NJ, 2012. OR Blocher, Edward, J., Stout, David E., Juras, Paul E., and Cokins, Gary, Cost Management: A Strategic Emphasis, 6 th edition, McGraw Hill, New York, NY, 2013. AND Bodnar, George, H., and Hopwood, William S., Accounting Information Systems, 10th edition, Prentice-Hall, Upper Saddle River, NJ, 2010. You can borrow them from any business library. Don't worry if you are unable to get that specific edition- authors only change the chapter questions when they change editions - so get any edition. In this course w e will go through each section, developing answers to each learning objective in that section. At the end of each section, there will be a "Test Your Understanding" (TYU) section containing multiple choice questions. There may be more than one TYU for each section as I will be continually uploading questions for you to practice. To successfully pass this exam will require hours and hours of study and doing practice exam questions. A good plan is to take five months to cover the material thoroughly before attempting the exam. Finally, I will provide you with practical advise on how to manage the exam.

05:15

Professional exams are different than university exams

Section 2: Planning, Budgeting and Forecasting ( 30% of the Exam)
01:25

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.

Section 3: Strategic Planning
02:31

Two basic strategies ;
1. Product differentiation
a. Offering products and services perceived by customers as being superior and
unique
b. Resulting in increase of brand loyalty and prices customers willing to pay
2. Cost leadership
a. Achieving low costs relative to competitors
b. Resulting in increase of market share and growth of company

Know these Strategic Planning Learning outcomes
02:39
CMA Published Learning Outcomes
01:03
Past Candidates answers to learning outcome questions - Strategic Planning
00:45
00:57

I have taken the major strategic planning concepts and developed a number of "Games". You can attempt to play these games a number of times in doing so you will become more familiar with the concepts. If you want more let me know at - the.cma.coach@gmail.com.

02:32

This is a socrative quiz. Go to socrative.com and register as a student. When asked what room enter -  stratplan.

You receive immediate feedback but if you want a pdf of your work email me at - the.cma.coach@gmail.com

Section 4: Budget Concepts
Know These Learning Outcomes - Budget Concepts
01:47
CMA Published Learning Outcomes
Preview
Article
Past Candidates answers to learning outcome questions - Budget Concepts
Preview
Article
00:23

I have taken the major strategic planning concepts and developed a number of "Games". You can attempt to play these games a number of times in doing so you will become more familiar with the concepts. If you want more let me know at - the.cma.coach@gmail.com.

Section 5: Forecasting Techniques
CMA Published Learning Outcomes
Article
Forecasting Learning Outcomes as questions
Article
Article

Download these 23 questions and practice developing answers.

Answers to Practice questions
Article
00:35

These are flashcards put into a game for you to practice.

Section 6: Budget Methodologies
Know these Learning Outcomes- Budget Methodolgies
01:27
Past Candidates answers to learning outcome questions - Budget methodology
Article
Past Candidates answers to Annual Planning
02:33
00:29

These are flashcards put into a game for you to practice.

Section 7: Annual Planning and Supporting Schedules
CMA Published Learning outcomes
Article
00:26

These are flashcards put into a game for you to practice.

Section 8: Top Level Planning
Know these learning Outcomes - Top Level Planning
00:49
Past Candidates answers to learning outcome questions - Top level
Article
01:06

his is a socrative quiz. Go to socrative.com and register as a student. When asked what room enter -  budgeting.

You receive immediate feedback but if you want a pdf of your work email me at - the.cma.coach@gmail.com

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Instructor Biography

Dr. John Mclellan, 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

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