Certified Management Accountant'S 2021 Exam #1 Prep.

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