Performance Management: CMA Exam Part 1 - Section C
Author: Tom Coghlan
||6 hours for CPAs
Includes the following topics: Standard costing, flexible budgets, variance analysis, responsibility accounting, transfer pricing methods, and the balanced scorecard.
Using CPE credits to prepare for the Certified Management Accountant (CMA) exam is a pathway to a more successful business career: one that opens doors, builds confidence, closes skills gaps, and lets you tap into a network of 85,000 professionals around the globe.
The CMA certification complements other credentials or degrees and tests for analytical and critical-thinking skills not covered in other exams. About one in three active CMAs in the U.S. are also CPAs.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Publication Date: April 2017
Financial officers and controllers, Financial accountants, managerial and cost accountants, Financial and business analysts, Budget managers and analysts, Risk managers, CIO's and information technology professionals.
- Standard Costs
- Introduction to Variance Analysis
- Contribution Margin
- Flexible Budgets
- Sales Variances
- Direct Material Variances
- Direct Labor Variances
- Overhead Variances
- Responsibility Centers
- Transfer Pricing
- Internal Profitability Analysis
- The Balanced Scorecard
- Define a standard cost system and identify the reasons for adopting a standard cost system.
- Explain how budget variance reporting is utilized in a management by exception (MBE) environment.
- Develop an understanding of contribution margin per unit and total contribution margin.
- Identify and describe the benefits and limitations of measuring performance by comparing actual results to the static or master budget.
- Purpose of sales variance analysis and the role of contribution margin in sales variances.
- Develop direct material and direct labor variances.
- Develop overhead rates and the impact of indirect nature of overhead on analysis.
- Identify segments that organizations evaluate, including product lines, geographical areas, or other meaningful segments.
- Define transfer pricing and the objectives of transfer pricing. Identify and calculate transfer prices using variable cost, full cost, market price, negotiated price, and dual-rate.
- Understand the issues in determining product, customer and business unit profitability.
- Explain the relationships between the strategic plan, key performance indicators, and the balanced scorecard.
- Define the concept of the balanced scorecard and identify and describe its four perspectives.
NASBA Field of Study
Finance (6 hours)