Экзамен на квалификацию CMA

Section A – External Financial Reporting Decisions

A.1. Financial Statements

1) The Balance Sheet (Statement of Financial Position)

2) The Income Statement

3) Introduction to the Statement of Cash Flows (SCF)

4) Statement of Comprehensive Income

5) Statement of Changes in Stockholders’ Equity

• Notes to the Financial Statements
• Specific Elements of the Financial Statements
• Preparation of the Statement of Cash Flows

A.2. Recognition, Measurement, Valuation, and Disclosure

1) Asset Valuation

1a) Cash and Cash Equivalents

1b) Accounts Receivable

• Valuing Accounts Receivable
• Discounts and Initial Recording of the Account Receivable
• Uncollectible Receivables
• Sales Returns and Allowances
• Factoring: Using Receivables as an Immediate Source of Cash

1c) Inventory

• Valuing the Inventory When It Is Purchased
• Which Goods Are Included in Inventory
• Costs Included in Inventory
• Determining Which Item Is Sold: Cost Flow Assumptions
• Effect of the Different Methods
• The Frequency of Determining Inventory Balances
• The Physical Inventory Count
• Errors in Inventory
• Recognizing Permanent Declines in Inventory Values

1d) Investments

• Investments in Debt Securities – Methods 1, 2, and 3
• The Fair Value Option for Investments in Debt Securities
• Investments in Equity Securities – Methods 3, 4, 5, and 6
• Investments Where the Investor Does Not Have Significant Influence
• Long-Term Investments Where the Investor Has Significant Influence or Control
• Changes in Level of Ownership or Degree of Influence
• Consolidated Financial Statements – Method 6

1e) Property, Plant, and Equipment

• Initial Recording of the Fixed Asset
• Depreciation
• Net Book Value of Fixed Assets
• Calculation of Depreciation
• Depreciation Methods
• Which Method of Depreciation is Best?
• Impairment of Long-Lived Assets to be Held and Used

1f) Intangible Assets

• Initial Recording of Intangible Assets
• Amortization and Accounting Treatment of Intangibles
• Impairment of Limited-Life Intangible Assets
• Impairment of Indefinite-Lived Intangible Assets Other Than Goodwill
• Goodwill and the Impairment of Goodwill

2) Valuation of Liabilities

2a) Reclassification of Short-term Debt

2b) Warranties

1) Accounting for Assurance-Type Warranties

2) Accounting for Service-Type Warranties

2c) Off-Balance Sheet Financing

2d) Accounting for Income Taxes

• Book Income, Taxable Income, and Deferred Taxes
• Temporary Timing Differences
• Calculating the Deferred Tax Asset (DTA) or Deferred Tax Liability (DTL)
• Permanent Timing Differences
• Treatment of Net Operating Losses

2e) Accounting for Leases

• The Two Categories of Leases                                                                                                
• Determining If the Lease Is Capital or Operating by the Lessee

3) Equity Transactions

• Corporate Shareholders’ Equity
• Retained Earnings
• Treasury Stock
• Classification of Shares

4) Revenue Recognition

• Contract Assets and Liabilities
• Five Steps to Revenue Recognition
• Special Revenue Recognition Issues
• Disclosures for Revenue Recognition

Section B – Planning, Budgeting and Forecasting

B.1. Strategic Planning

• Planning in Order to Achieve Superior Performance
• Types of Plans and General Principles
• The Strategic Planning Process
• Other Planning Tools and Techniques
• Characteristics of Successful Strategic Plans

B.2. Budgeting Concepts

• The Relationship Among Planning, Budgeting, and Performance Evaluation
• Advantages of Budgets
• Time Frames for Budgets
• Methods of Developing the Budget
• Who Should Participate in the Budgeting Process?
• The Budget Development Process
• Best Practice Guidelines for the Budget Process
• Budgetary Slack and Its Impact on Goal Congruence
• Responsibility Centers and Controllable Costs
• Standard Costs Used in Budgeting

B.3. Forecasting Techniques

• Using Regression Analysis in Forecasting
• Using Probability Concepts in Forecasting
• Using Learning Curves in Forecasting

B.4. Budget Methodologies

• The Annual/Master Budget
• Static Budgets and Flexible Budgets
• Project Budgeting
• Activity-Based Budgeting (ABB)
• Zero-Based Budgeting versus Incremental Budgeting
• Continuous (Rolling) Budgets

B.5. Annual Profit Plan and Supporting Schedules

• The Budgeting Cycle
• Development of the Annual/Master Budget or Profit Plan
• Development of the Master Budget
• The Master Budget Financial Statements
• Ongoing Budget Reports

Answering Budgeting Exam Questions

• Flexible Budgeting Questions
• Units to Produce / Purchase Questions
• Cash Budget Questions

B.6. Top-Level Planning and Analysis

• Pro Forma Financial Statements
• Analysis of Pro Forma Financial Statements
• Other Uses of Pro Forma Financial Statements

Section C – Performance Management

C.1. Cost and Variance Measures

• Determining the Level of Activity for Standard Costs
• Sources of Standards

Variance Analysis Concepts

• “Levels” in Variance Analysis
• Static Budget Variances vs. Flexible Budget Variances

Manufacturing Input Variances

• The Difference Between Sales Variances and Production Variances
• What Causes Manufacturing Input Variances?
• Direct Materials Variances
• Direct Labor Variances
• More Than One Material Input or One Labor Class
• Factory Overhead Variances

Sales Variances

• Sales Variances for a Single-Product Company
• Sales Variances When More than One Product is Sold
• Variances Example for a Multiple-Product Company Using Contribution Margin

Variance Analysis for a Service Company

Market Variances

C.2. Responsibility Centers and Reporting Segments

• Evaluating the Manager vs. Evaluating the Business Unit
• Allocation of Common Costs
• The Contribution Income Statement Approach to Evaluation
• Transfer Pricing

C.3. Performance Measures

• Strategic Issues in Performance Measurement
• Performance Measurement
• Balanced Scorecard
• Customer and Product Profitability Analysis

Appendix A: Variance Report for a Company Selling Two Products

Answers to Questions

Section D – Cost Management

D.1. Measurement Concepts

• Why Cost Management?
• Classifications of Costs
• Product Costs vs. Period Costs
• Costs Based on Level of Activity (Fixed, Variable and Mixed Costs)
• Introduction to Costing Systems
• Introduction to Cost Accumulation Methods
• Introduction to Cost Measurement Systems
• Cost of Goods Sold (COGS) and Cost of Goods Manufactured (COGM)

Variable and Absorption Costing

• Fixed Factory Overheads Under Absorption Costing
• Fixed Factory Overheads Under Variable Costing
• Effects of Changing Inventory Levels
• Income Statement Presentation

Joint Products and Byproducts

• Methods of Allocating Costs to Joint Products
• Accounting for Byproducts

D.2. Costing Systems

• Review of Introduction to Costing Systems

Process Costing

• Steps in Process Costing
• Process Costing Diagram – FIFO
• Process Costing Diagram – Weighted Average
• Process Costing Summary
• Process Costing Examples
• Spoilage in Process Costing

Job-Order Costing

Operation Costing

Life-Cycle Costing

Customer Life-Cycle Costing

D.3. Overhead Costs

Estimating Fixed and Variable Costs

D.4. Supply Chain Management

• What is Supply Chain Management?
• Lean Manufacturing
• Just-in-Time (JIT) Inventory Management Systems
• Kanban
• Introduction to MRP, MRPII, and ERP
• Outsourcing
• Theory of Constraints (TOC)
• Capacity Level and Management Decisions

D.5. Business Process Improvement

• The Value Chain and Competitive Advantage
• Process Analysis
• Business Process Reengineering
• Benchmarking Process Performance
• Activity-Based Management (ABM)
• The Concept of Kaizen
• The Costs of Quality
• ISO 9000
• Quality Management and Productivity
• Other Quality Related Issues
• Accounting Process Redesign

Section E – Internal Controls

E.1. Governance, Risk, and Compliance

• Corporate Governance
• Responsibilities of the Board of Directors
• Audit Committee Requirements, Responsibilities and Authority
• Responsibilities of the Chief Executive Officer (CEO)
• Election of Directors

Internal Control

• Internal Control Definition
• The Importance of Objectives
• Who Is Responsible for Internal Control?
• Components of Internal Control
• What is Effective Internal Control?
• Transaction Control Objectives
• Types of Transaction Control Activities
• Safeguarding Controls

Legislative Initiatives About Internal Control

• Foreign Corrupt Practices Act (FCPA)
• Sarbanes-Oxley Act and the PCAOB

External Auditors’ Responsibilities and Reports

• Financial Statement Opinion
• Internal Control Opinion
• Reviews and Compilations
• Reports to the Audit Committee of the Board of Directors

E.2. Internal Auditing

• Definition of Internal Auditing
• The Internal Audit Charter: Establishing the Internal Audit Function
• Organizational Independence
• Scope of Activities and Responsibilities
• Testing and Evaluating the Effectiveness of the Internal Control System
• Determining Which Engagements to Conduct
• Types of Engagements
• Quality Auditing
• Reporting to the Board
• Inherent Risk, Control Risk, and Detection Risk

E.3. Systems Controls and Security Measures

• Introduction to Systems Controls
• Threats to Information Systems
• The Classification of Controls
• General Controls
• Application Controls
• Controls Classified as Preventive, Detective and Corrective
• Controls Classified as Feedback, Feedforward and Preventive

System and Program Development and Change Controls

Internet Security

• Viruses, Trojan Horses and Worms
• Cybercrime

Business Continuity Planning

System Auditing

• Assessing Controls by Means of Flowcharts
• Computerized Audit Techniques

Answers to Questions

Экзамен на получение квалификации CMA проводится Институтом специалистов по управленческому учету (IMA) для членов Института.

Квалификационный экзамен CMA состоит из двух частей:

• Часть 1: Финансовое планирование, организация хозяйственной деятельности и контроль
• Часть 2: Процесс принятия финансовых решений

Институт IMA регулярно проверяет содержание экзамена на квалификацию СМА в целях обеспечения актуальности тестируемых тем и их соответствия деловой практике.

Продолжительность каждого экзамена составляет 4 часа. Экзамен по каждой части состоит из 100 вопросов с вариантами ответов на них (multiple-choice questions), на которые отводится 3 часа, а также включает два открытых вопроса для написания эссе по 30 минут на каждое. Обе части экзамена можно сдавать в любом порядке.
Экзамен оценивается по системе баллов. Максимальный балл – 500. Проходной балл – 360. Чтобы сдать экзамен, нужно правильно ответить на 70% вопросов.

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