CMA Part 1 - Financial Reporting, Planning, Performance, and Control Exam Secrets Study Guide: CMA Test Review for the Certified Management Accountant Exam - Softcover

CMA Exam Secrets Test Prep Team

Softcover

ISBN 10: 1609714164 ISBN 13: 9781609714161

Publisher: Mometrix Media LLC, 2013

Synopsis

***Includes Practice Test Questions***

Get the test prep help you need to become a Certified Management Accountant (CMA).

The CMA Part 1 - Financial Planning, Performance and Control exam is extremely challenging and thorough test preparation is essential for success. CMA Exam Secrets Study Guide is the ideal prep solution for anyone who wants to pass the CMA exam.

Not only does it provide a comprehensive guide to the CMA exam as a whole, it also provides practice test questions as well as detailed explanations of each answer.

CMA Part 1- Financial Planning, Performance and Control Exam Secrets Study Guide includes:

• An in-depth guide to the Certified Management Accountant Part 1-Financial Planning, Performance and Control Exam
• A detailed review of planning, budgeting and forecasting
• A complete look at performance management
• A thorough breakdown of cost management
• A full overview of internal controls
• An extensive study of professional ethics
• Comprehensive practice questions with detailed answer explanations

It's filled with the critical information you'll need in order to do well on the test the concepts, procedures, principles, and vocabulary that the Institute of Management Accountants (IMA) expects you to have mastered before sitting for the exam.

The Planning, Budgeting and Forecasting section includes:

• Purpose of budgets
• Authoritative budgeting
• Participative budgeting
• Unattainable budget standards
• Pro forma income statement
• Pro forma statement of financial position
• Pro forma cash flow statement

The Performance Management section includes:

• Performance measurement
• Variance analysis
• Responsibility accounting
• Contribution margin
• Transfer pricing
• ROI
• Balanced scorecard approach

The Cost Management section includes:

• Activity-based costing
• Cost allocation methods
• Just-in-time manufacturing systems
• Outsourcing
• Value chain analysis
• Benchmarking
• TQM

The Internal Controls section includes:

• Internal control risk
• Segregation of duties
• Sarbanes-Oxley Act of 2002
• Internal audit
• Independent auditors
• PCAOB
• Disaster recovery plan

The Professional Ethics section includes:

• Institute of Management Accountants Statement of Ethical Professional Practice
• Competency standards of the Institute of Management Accountants
• Confidentiality standards of the Institute of Management Accountants
• Integrity standards of the Institute of Management Accountants
• Credibility standards of the Institute of Management Accountants

These sections are full of specific and detailed information that will be key to passing the CMA exam. Concepts and principles aren't simply named or described in passing, but are explained in detail. The guide is laid out in a logical and organized fashion so that one section naturally flows from the one preceding it. Because it's written with an eye for both technical accuracy and accessibility, you will not have to worry about getting lost in dense academic language.
Any test prep guide is only as good as its practice questions and answers, and that's another area where our guide stands out. Our test designers have provided scores of test questions that will prepare you for what to expect on the actual CMA exam. Each answer is explained in depth, in order to make the principles and reasoning behind it crystal clear.

About this title

Review:

Our Study Guide for the CMA Test Is Unlike Any Other

If you'd like to get the CMA test score you deserve, to quit worrying about whether your score on the CMA test is "good enough," and to beat the test taking game so you can become a Certified Management Accountant (CMA), then this might be the most important message you read this year.

Our comprehensive study guide for the CMA examination is written by our CMA test experts, who painstakingly researched the topics and the concepts that you need to know to do your best on the CMA test. Our original research into the Certified Management Accountant (CMA) Certification Examination, offered by the Institute of Management Accountants (IMA), reveals the specific content areas and the essential skills that are critical for you to know on the CMA test. We've taken the information and developed a study guide that is guaranteed to help you be successful on the CMA test.

Now, we know you may be skeptical, so let us give you three good reasons we can back up what we claim:

The Three Reasons To Believe What We Say

The First Reason:

Our company's name is Mometrix Test Preparation, and we have a team of standardized test researchers who have worked on developing our study guide for the CMA test. The standards for who gets to work on the team are very strict- we demand the best for our customers, and only those who met our exacting standards made the cut. The dedicated research staff have years of combined experience in mastering the content and skills necessary to succeed on the toughest exams.

The Second Reason:

Some academic studies have revealed that test takers do not really benefit from the traditional test preparation process. But we knew there had to be a solution- if test takers were not doing well on the CMA test despite high intelligence, there had to be a set of secret keys to the test that would open the door of success for these test takers.

We believe we have succeeded in finding the secret keys of the exam. What we found was surprising, and in some cases ridiculously simple once explained to the average test taker.

We put the findings together in a thorough, concise study guide that we believe allows any test taker, at any skill level, to improve his or her results dramatically with a minimum of effort.

The Third Reason:

We created the product in part because we were frustrated by the options available to test takers who really wanted to do well on the CMA test.

A common approach is to TEACH the material, instead of TEACHING THE TEST. That's not necessarily good enough for the CMA test- you have to know how to apply the knowledge. Most test takers already have a general knowledge of the material that will be covered on the exam.

One reason some test takers do well on the day of the test is that they have made the critical connection between the material they learned and how to use the material to succeed on the CMA test.

Our guide addresses the difference between merely knowing the material and knowing how to use the material to perform on test day.

You're going to save time, money, and aggravation. You'll learn to avoid the mistakes and the bad strategies that you've been vulnerable to. --Just for starters, here are some ways our product can help your score on the CMA test...

The Exclusive Test Taking Techniques

• Keys to questions that "give away" the wrong (or right) answers- You get credit for some of the questions without really even knowing anything about them
• Get quick, customized help for the questions you have- just send us a quick email and we'll get back to you promptly with the answer.
• Details the EXACT STUDY PLAN for the CMA test that we believe gives the most results in the least time- No matter if you're studying for a week or a month, you won't waste the precious study time you have on useless activities
• Our researchers are more than just academic theoreticians who understand the technical nature of standardized tests, but are also experts on test taking itself- they reveal the exact skills and the information you'll need to perform under pressure during the test.
• A systematic analysis and the best breakdown into "plain language" of how to deconstruct and master the toughest problems- You turn the problems that most of the test takers will stumble over to your advantage
• Learn why, when, and how to guess to your advantage. Many test takers use exactly the wrong strategy, but you can avoid the pitfalls with the help of our standardized test experts
• Includes instructions detailing the best way for you to get started with your preparation efforts so you can begin the path of improving your scores immediately
• The most efficient and accurate method for picking the right answer every time- You won't be scratching your head trying to read the mind of the test question writer, but will instead know exactly what to look for to pick the best answer
• Courteous, unlimited customer service is 100% free- if you need the product emailed to a different address, lose the product, or have any other difficulty- the help you need is just a short email away and our representatives are active 7 days a week helping customers
• The research of our team of test experts is 100% independent and original
• Our exclusive "calibration strategy" to help you never go too fast OR too slow when answering even the toughest questions
• The 5-step process we've developed, what we call the "phased" approach, concerning the use of the various study aids and practice tests
• How the problem of procrastination can kill your chance of success, and the most important thing you can do about it
• How to know when you've studied as much as you need to for the exam- and the reason why we think some people should spend LESS time studying for the test
• The Top 20 things you should take care of within 24 hours of taking the test- use the list we provide as a checklist to make sure you've taken care of the "little things" in addition to studying hard
• How to predict the right answer before you see the answer choices- and how to prevent the wrong answers from "polluting" your mind and tempting you into a trap designed by the test writers
• Why answers that "sound" correct are often the very ones that are wrong- and how to tell the difference between the right answer and the many clever-sounding traps set for you by the test writers
• Our "benchmark" method for deciding which of the answer choices you should pick
• How some of the random bits of information in a question often "give away" the right answer choice
• How to "milk the question" for clues to the right answer even if you have no idea what the question is asking about
• How to avoid panicking when you don't know the answer to a question- we offer a systematic method that will serve as the "lifeline" you need to minimize the time wasted on the test questions that leave you stumped --
• What to do about the tough questions that you have no clue how to answer- don't just give up, use the advice we offer to make sure you give yourself the best chance of getting the right answer
  
  
• How to use our brainstorming method to get "inside the question" and reveal the hard-to-find clues and some of the subtle things you didn't realize you knew
• Do you know what a "hedge phrase" is? Learn why looking for the key "weasel words" in the question can help identify the correct answer
• Why "new information" in the answer choices almost always means that the answer choice is wrong- and the way to avoid this trick planted by the clever test writers
• Learn to avoid this time-draining mistake on the test - why the technical terms you don't know can be a major stumbling block and waste precious time, and the way that you can work around them
• The secret to using the contextual clues in the questions and the answer choices to make important distinctions between the right and the wrong answer choices
• The two situations where you should NOT check your answers thoroughly
• How to avoid careless mistakes by using the quick "double check" system. It will more than pay for itself relative to the time it will take you
• Test writers will often quote directly from the question in an answer- learn whether this is something you should trust or avoid
• Why "extreme statements" in the answer choices are dead giveaways for wrong answers- find out how to detect the subtle differences between reasonable answers and the answers that are almost always wrong
• Learn how to group your answer choices into "families" that often narrows down the pool of correct answers- this is a quick way to immediately eliminate one or two of the answer choices and increase your odds of getting the question right

Now, you're probably wondering how and why we can do all the things we claim.

Let us explain.

Before we go any further, let us clarify what CMA Exam Secrets is not. It is not a stale rehash of all of the things you have already learned in the past.

CMA Exam Secrets is our exclusive collection of the tips and the information that we have specially selected to give you the best results on the CMA test for the least time spent studying. It's written in everyday language and is easy to use.

We cover the 5 essential skills necessary to do well on the CMA test, plus comprehensive reviews covering all of the essential test sections individually.

Don't take our word for it. Listen to what our customers say about other Mometrix test preparation products.

I purchased the Secrets file, and I just wanted to let you know that I aced my test. I just want to thank you again, and hope you have continued success in your ventures. Sincerely, Paul L.

My name is Chris. I used the Secrets study guide for five days. The study guide made the test so easy to understand. Like you said this program is worth 100's of dollars. To me 1,000's!! THANKS, Chris G.

I just had to thank you guys for the test prep! I bought the guide as a last minute prep, I mean maybe 5 hours before the test. Like I said, I had ZERO preparation! I was nervous about the test let alone receiving the score I needed. I read the guide through only once before test time and needless to say, the only way I passed was thanks to your refresher!! Brian

I heard about your website from a friend. I am enrolled in a review course, and in hindsight, I wish I wouldn't have taken my review course and instead spent a fraction of the money on your program. Thank you! Zac L.

You get at least 10 times your money's worth! --When you consider what's at stake with the exam, we believe the value of our study guide gives you at least ten times your money's worth.

About this edition

• Publisher: Mometrix Media LLC
• Publication date: 2013
• ISBN 10: 1609714164
• ISBN 13: 9781609714161
• Binding: Paperback
• Number of pages: 104