CMA Part 1 Exam Prep 2026: -External Financial Reporting

"Good course for building a strong foundation in intermediate accounting. Clear and straight to the point." Grayson Miles

"Simple and practical teaching style. I now understand the accounting cycle much better." Colton Hayes

"Great course! The way revenue recognition and asset valuation were explained really helped me."

Charlie Davies

"Really clear explanations. Intermediate accounting finally makes sense to me now." Victoria Green

"This course does a great job covering the key topics in intermediate accounting, including accounting standards (GAAP and IFRS), financial statement analysis, and reporting techniques. The lessons are concise but very informative, and they helped me better understand how financial data is prepared and interpreted." Samuel Bennett

Financial accounting and reporting is the primary medium by which organizations provide information to their external stakeholders (e.g., shareholders, creditors, governmental agencies, customers, and alike). The information provided would be used for a variety of decision-making purposes by interested parties. This is the first of a two-part course. Intermediate Accounting provides an in-depth study of the process of preparing and presenting financial information about an entity for outside users. Topics vary but typically include the process of accounting standard setting, and the accounting cycle including data accumulation, adjustments, and preparation of financial statements. There is a focus on the recognition, measurement, and disclosure of revenue, valuation of inventory and cost ol completion of this course, students will be able to: (1) Examine the conceptual framework for accounting principles; assumptions; measurement; recording rules; and (1) Examine the conceptual framework for accounting principles; assumptions; measurement; recording rules; and financial statements; and explain how that framework is used in setting accounting standards, (2) Record business transactions in all phases of the accounting cycle, (3) Prepare financial statements and explain their presentation and disclosure issues, (4) Examine the link between recognition of revenue and earnings; and contrast expenses with revenues, and (5) Explain how to account for short and long term assets. financial statements; and explain how that framework is used in setting accounting standards, (2) Record business transactions in all phases of the accounting cycle, (3) Prepare financial statements and explain their presentation and disclosure issues, (4) Examine the link between recognition of revenue and earnings; and contrast expenses with revenues, and (5) Explain how to account for short and long term assets.