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Table of Contents
Table of Contents
Introduction to CMA Part 1 ............................................................................................... 1
Section A Planning, Budgeting and Forecasting ......................................................... 3
Planning and Budgeting Concepts .................................................................................. 4
Planning in Order to Achieve Superior Performance
The Role of Management in Attaining Profitable Growth
The External Environment in Planning and Budgeting
Setting Objectives and Goals
Types of Plans and General Principles
Budgeting
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
Setting Standard Costs
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Appendix A: Incremental Unit-Time Learning Model for Financial Calculators ............ 279
Logarithm Basics
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Calculating the Time Required to Produce Any Unit Using a Financial Calculator and the Incremental
Unit-Time Learning Model
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Table of Contents
Section C Cost Management ......................................................................................... 1
Classifications of Costs .................................................................................................... 2
The Difference Between Costs and Expenses
Direct Versus Indirect Costs
Costs Based on Level of Production (Fixed, Variable and Mixed Costs)
Production vs. Period Costs
Types of Product Costs
Other Costs and Cost Classifications
Cost of Goods Sold (COGS) and Cost of Goods Manufactured (COGM)
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3. Determine When the Materials Are Added to the Process
4. Calculate the Equivalent Units of Production (EUP)
5. Calculation of Costs Incurred During the Period
6. Calculation of the Cost per EUP
7. Allocation of the Costs to the Products
Process Costing Diagram FIFO
Process Costing Diagram Weighted Average
Process Costing Summary
Process Costing Examples
Spoilage in Process Costing
1. How Many Units Were Spoiled
2. How are the spoiled units classified as normal or abnormal?
3. Calculating the Costs Allocated to Each Spoiled Unit
4. What is Done with the Costs Allocated to the Spoiled Units?
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Controls Classified as Feedback, Feedforward and Preventive
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2013 HOCK international, LLC. For personal use only by original purchaser. Resale prohibited.
CMA Part 2
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Table of Contents
Introduction to CMA Part 2 ............................................................................................... 1
Section A Financial Statement Analysis....................................................................... 3
Introduction to the Financial Statement Analysis Section
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Activity Ratios.................................................................................................................. 41
Accounts Receivable Activity Ratios
Inventory Activity Ratios
Accounts Payable Turnover Ratio
Days Purchases in Accounts Payable and the Cash Cycle
Total Asset Turnover Ratio
Fixed Asset Turnover Ratio
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Net Profit Margin Percentage
EBITDA Margin Percentage
Return on Invested Capital
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Financial Analysis and Differences Between U.S. GAAP and IFRS .......................... 133
General Background Information Regarding IFRS
Important Considerations about IFRS Financial Analysis Compared to U.S. GAAP
Why the Differences Between IFRS and U.S. GAAP Are Important
Specific Primary Differences Between IFRS and U.S. GAAP
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Equity
Common Stock
Preferred Stock
The Price of a Share of Stock
Additional Equity Related Sources of Financing
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Voluntary Corporate Liquidation
Partial Sell-Off of Assets
Corporate Spin-Off
Equity Carve-Out
Tracking Stock
Effects of Divestitures on Shareholder Value
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Section C Decision Analysis and Risk Management ................................................... 1
Introduction to the Decision Analysis and Risk Management Section
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Pricing .............................................................................................................................. 26
Impact of Market Structure on Pricing
Impact of Supply and Demand on Pricing
Short-Run Equilibrium Pricing
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Choosing Between Production Options
Fixed Versus Variable Cost Inputs
Product-Mix Decisions Under Constraints
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Introduction to the CMA Assumed Knowledge Book ..................................................... 4
Chapter 1 Microeconomics ............................................................................................ 5
Microeconomics ................................................................................................................ 6
Demand .............................................................................................................................. 7
Determinants of Demand
Elasticity of Demand
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Elasticity of Supply
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Introduction to the CMA Assumed Knowledge Book ................................................... 10
Financial Accounting ...................................................................................................... 11
Environmental Assumptions
The Financial Statements
The Balance Sheet
The Income Statement
The Statement of Cash Flows (SCF)
Statement of Comprehensive Income
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Percentage-of-Completion Method
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Goodwill
Specific Investee Assets
Deferred Income Taxes
Losses in Excess of Carrying Value of an Equity Method Investment
Changing Levels of Investments to Different Classifications
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