Certified Management Accounting-Part 1- two 4 hr.Mock Exams
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Certified Management Accounting-Part 1- two 4 hr.Mock Exams

Practice doing each of these two four hour mock exams to become proficient in doing the CMA Part 1 final exam
1.0 (1 rating)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
17 students enrolled
Created by John Mclellan
Last updated 12/2018
English
Certified Management Accounting-Part 1- two 4 hr.Mock Exams
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This course includes
  • 4 Practice Tests
  • Full lifetime access
  • Access on mobile
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Requirements
  • None
Included in This Course
+ Practice Tests
4 Tests 193 questions

These questions were used on past CMA exams. You will have to answer 100 questions in three hours.

Mock Exam - 100 multiple choice questions
99 questions

These are the essay questions  that have been used on past exams

Mock Exam - Essay part of the exam
1 question

These are past CMA exam questions. You have three hours to complete this part of the exam.

Mock Exam #2 - 100 Multiple choice questions
91 questions

These are past CMA essay questions. You have one hour to complete.

Mock Exam - Essay part of the exam
2 questions
Description

You will be tested in the following areas

A. External Financial Reporting Decisions (15% - Levels A, B, and C)

1.   Financial statements a. Balance sheet b. Income statement c. Statement of changes in equity d. Statement of cash flows

2.   Recognition, measurement, valuation, and disclosure a. Asset valuation b. Valuation of liabilities c. Equity transactions d. Revenue recognition e. Income measurement f. Major differences between U.S.  GAAP and IFRS

B. Planning, Budgeting and Forecasting (30% - Levels A, B, and C)

1.   Strategic planning a. Analysis of external and internal factors affecting strategy b. Long-term mission and goals c. Alignment of tactics with long-term strategic goals d. Strategic planning models and analytical techniques e. Characteristics of successful strategic planning process

2. Budgeting concepts a. Operations and performance goals b. Characteristics of a successful budget process c. Resource allocation d. Other budgeting concepts

3.   Forecasting techniques a. Regression analysis b. Learning curve analysis c. Expected Value

4. Budgeting methodologies a. Annual business plans (master budgets) b. Project budgeting c. Activity-based budgeting d. Zero-based budgeting e. Continuous (rolling) budgets f. Flexible budgeting

5. Annual profit plan and supporting schedules a. Operational budgets b. Financial budgets c. Capital budgets

6. Top-level planning and analysis a. Pro forma income b. Financial statement projections c. Cash flow projections

C. Performance Management (20% - Levels A, B, and C)

1. Cost and variance measures a. Comparison of actual to planned results b. Use of flexible budgets to analyze performance c. Management by exception d. Use of standard cost systems e. Analysis of variation from standard cost expectations

2. Responsibility centers and reporting segments a. Types of responsibility centers b. Transfer pricing models c.   Reporting of organizational segments

3. Performance measures a. Product profitability analysis b. Business unit profitability analysis c. Customer profitability analysis d. Return on investment e. Residual income f. Investment base issues g.   Key performance indicators (KPIs) 

D.  Cost Management (20% - Levels A, B, and C)

1. Measurement concepts a. Cost behavior and cost objects b.  Actual and normal costs c.  Standard costs d.  Absorption (full) costing e  Variable (direct) costing f.  Joint and by-product costing

2. Costing systems a.  Job order costing b.  Process costing c.  Activity-based costing d.  Life-cycle costing

3. Overhead costs a.  Fixed and variable overhead expenses b.  Plant-wide versus departmental overhead c.  Determination of allocation base  d.  Allocation of service department costs   4.   Supply Chain Management  a.  Lean manufacturing  b.  Enterprise resource planning (ERP)  c.  Theory of constraints and throughput costing d.  Capacity management and analysis

5. Business process improvement   a.  Value chain analysis b.  Value-added concepts c.  Process analysis d.   Activity-based management e.  Continuous improvement concepts f.  Best practice analysis g.   Cost of quality analysis h.   Efficient accounting processes

Who this course is for:
  • CMA Candidates for the Part 1 Exam