Certified Management Accountant’S 2021 Exam #1 Prep

Last updated 4/2021
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Be A CMA by the end of 2021. Know how to pass Exam #1. Course material is compliant with IMA’s 2020 Learning outcomes.

What you’ll 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.
Be able to anticipate what will be on a CMA exam by knowing what accounting concepts are always tested and be able to score a passing mark.
Be able to anticipate what will be on a CMA exam by knowing what accounting concepts are always tested and be able to score a passing mark.
Know the three levels of multiple choice questions that are on all CMA exams and how much each level is worth in marks.
Learn effective time management and test taking skills to master the CMA exam.
Requirements
You should dedicate at least five hours a week o this course in the semester that you plan to write the exam.
You should have access to a good management accounting textbook.
To be eligible to write the exam you must register with the Institute of Management Accountants.
Description
For many years, I marked the CMA final exams and know what the IMA is looking for in the ideal candidateThere are hundreds of learning outcomes that the IMA publishes that could be tested on the Part 1 exam. I have turned these learning outcomes into questions that past (successful) CMA candidates have researched the answers to. Their answers are provided but I recommend that you research the answers yourself as that will help you in mastering the content.IMA multiple choice questions are not all equal – know the three levels of questions and how much each level is worth.I have over five hundred multiple choice questions with answers and analysis at Level A, B and C. You can practice answering these questions in a number of 10 minute quizzes or 13 minute assignments..Look for quizzes and assignment in each module of this course. Also, there are two mock exams to practice.This course is a comprehensive study program to help you pass the Certified Management Accountants exam. It 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, The exams are offered three times a year – January, June and September.
I will be continually adding material to help you master the content.Dr JohnStudents comments:"Very informative and at a pace i can understand. " Mary Grace Warner "Good course to understand the content of the CMA, an overview of the main questions" Fornex-n" 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
Overview
Section 1: Introduction to Part1 of the Certified Management Accounting Exam
Lecture 1 Certified Management Accounting
Lecture 2 The different levels of CMA multiple choice questions
Section 2: Module 1 – Financial Reporting, Planning, Performance and Control
Lecture 3 The Learning outcomes for Financial Reporting
Lecture 4 Answers to the Learning outcomes Financial reporting
Lecture 5 Current Assets LO – Cash & receivables
Lecture 6 Inventories and Investments
Lecture 7 Property Plant equipment%& intangibles
Lecture 8 Current & long-term Liabilities
Lecture 9 A2. Equity learning outcomes
Section 3: Module 1 – Resources
Lecture 10 Notes on Financial Reporting concepts
Section 4: Module 1 – Activities to Deepen your Understanding
Section 5: Module 2 – Planning, Budgeting and Forecasting ( 20 % of Exam)
Section 6: Module 2 – Lectures of Budgeting, Planning and control
Lecture 11 Overview
Lecture 12 Strategic Planning
Lecture 13 Developing the Master Budget
Lecture 14 Cash Budget
Section 7: Module 2- Resources -IMA Learning Outcomes to be tested in this section
Lecture 15 Answers to Learning outcomes on Strategic Planning
Lecture 16 Answers to Learning outcomes on Budget Concepts
Lecture 17 Answers to LO on Budget Methodology
Lecture 18 IMA Learning Outcomes on Forecasting Techniques
Lecture 19 Answers on Annual Profit Planning
Lecture 20 Answers on Top Level Planning
Lecture 21 Tool Time Inc.
Section 8: Module 2 B – Resources for Budgeting Planning & Control
Lecture 22 Demonstration Problem on Cash Budgeting
Lecture 23 Purchasing Budget Question
Lecture 24 Demonstration Problem on Purchasing Budget
Lecture 25 Budget Income Statement Question
Lecture 26 Master Budget Critical thinking questions
Section 9: Module 2 – Activities to deepen your understanding
Lecture 27 Past IMA Problems on Learning Curves
Section 10: Past CMA questions – Know these budgeting problems
Lecture 28 Challenging Direct Material Purchasing Budget Problem
Section 11: Module3 – Performance Management ( 15% of questions on the exam)
Section 12: Module 3 – Performance Management Lectures
Lecture 29 Overview of Budget Control
Lecture 30 Overview of Responsibility Accounting
Lecture 31 Flexible Budget Control
Lecture 32 Responsibility Accounting
Lecture 33 Standard Costs & Variance Analysis
Section 13: Module 3 – Resources for Performance Measuremen
Lecture 34 Section 1 – Cost and Variance Measures
Lecture 35 Demonstration problem on Flexible Budgeting
Lecture 36 Demonstration Problem on Variance analysis
Lecture 37 Demonstration Problem on Standard cost Variances
Lecture 38 Section 2 – Responsibility Centres
Lecture 39 Demonstration Problem on Responsibility Accounting
Lecture 40 Notes on the Balanced Scorecard
Lecture 41 Notes on Responsibility Accounting
Lecture 42 Notes on Transfer Pricing
Lecture 43 Section 3 – Performance Measures
Lecture 44 Notes on Performance Methods
Section 14: Module 3 – Activities to deepen your understanding on performance Measurement
Lecture 45 Variance analysis & Flexible budget problems & Solutions
Lecture 46 Standard Cost Problems & Solutions
Lecture 47 Past IMA questions on Performance Measurement
Section 15: Module 4 on Cost management (15%of the Exam)
Section 16: Module 4- Lectures on Cost Management
Lecture 48 Cost Behaviour and the Contribution Margin
Lecture 49 Cost Volume Profit Analysis
Lecture 50 Activity Based Costing
Lecture 51 Customer Profitability
Section 17: Module 4 – Resources
Lecture 52 IMA Learning outcomes for Measurement Concepts
Lecture 53 Summary Of Costs
Lecture 54 Lecture on Job Costing
Lecture 55 IMA Learning Outcomes for Costing Systems
Lecture 56 IMA Learning Outcomes for Overhead Costs
Lecture 57 IMA Learning Outcomes for Supply Chain Management
Lecture 58 Answers to Supply Chain LO’s
Lecture 59 IMA Learning Outcomes for Business Process Improvement
Lecture 60 Answers to Business Process Improvements LO’s
Section 18: Module 4- Activities to deepen your understanding
Lecture 61 Problem on Analyzing Costs
Lecture 62 Mixed Costs – High Low method problem
Lecture 63 Cost Behaviour Problem
Lecture 64 Cost Behaviour excel problems with solutions
Lecture 65 Demo Problem Overhead application on Job Costing
Lecture 66 Job Costing Problem
Lecture 67 Demonstration Problem on Activity Based Costing
Lecture 68 Two ABC Problems Demo
Lecture 69 Activity Based costing Problem & Solution in excel
Lecture 70 Activity Based case #2 EXCEL
Lecture 71 Two Activity Based Problems.xlsx
Section 19: Module 5 – Internal Controls Resources ( 15 % of exam)
Lecture 72 Section E.1. Governance, risk, and compliance
Lecture 73 – Section E.2. Systems controls and security measures
Lecture 74 Case on Internal Controls
Lecture 75 Suggested solution Traigan
Section 20: Module 6 – Technology and Analysis
Lecture 76 IMA Learning outcomes
Lecture 77 Section F.1. Information systems
Lecture 78 Section F.2. Data governance
Lecture 79 F.3. Technology-enabled finance transformation
Lecture 80 Section F.4. Data analytics
Lecture 81 Concepts to be tested
Candidates who will be writing the Certified Management Accounting exams offered by the Institute of Management Accountants

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