CMA Part 1: Financial Reporting, Planning, Performance and Control

Course details

Key Benefits

After CMA Certificate completion, participants will be able to:

• Demonstrate ability to work across the breadth and depth of the entire accounting process within organizations
• Prove proficiency in decision-making, planning, and control functions
• Distinguish from peers and increase credibility and productivity
• Expand career options and get greater earning potential

What is CMA?

• The CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance.

Audience

• Chief Executive Officers (CEO)
• Chief Financial Officers (CFO)
• Financial Analysts and Finance Managers
• Finance Controllers and Treasurers
• Senior Accountants and Budget Analysts
• Staff Accountants and Cost Accountants
• Vice Presidents (VP)

Why CMA?

• The CMA is unique among professional and academic credentials, designed specifically for accounting and financial management professionals in business.
• Achieving the CMA demonstrates your professional expertise in financial planning, analysis, control, decision support, and professional ethics – essential skills sought after by successful organizations and their financial team leaders.
• Whether you want to enhance your value within your current organization—or expand your career potential—the CMA is the key to maximizing your professional potential.

Part 1

• Financial Reporting, Planning, Performance, and Control

A- Cost Management: (20%)

• Cost and variance measures, responsibility centers and reporting segments, performance measures.

B- Planning, Budgeting & Forecasting: (30%)

• Budgeting concepts, forecasting techniques, budgeting methodologies, annual profit plan and supporting schedules, top-level planning and analysis

C- Performance Management : (20%)

• Factors to be analyzed for control and performance evaluation including revenues, costs, profits, and investment in assets; variance analysis based on flexible budgets and standard costs; responsibility accounting for revenue, cost, contribution and profit centers; key performance indicators; and balanced scorecard.

D- Internal controls: (15%)

• Corporate governance; internal control risk; internal control environment, procedures, and standards; responsibility and authority for internal auditing; types of audits; assessing the adequacy of the accounting information system controls; and business continuity planning.

E- External Financial Reporting Decisions: (15%)

• Preparation of financial statements: balance sheet, income statement, statement of changes in equity, statement of cash flows; valuation of assets and liabilities; operating and capital leases; impact of equity transactions; revenue recognition; income measurement; major differences between U.S. GAAP and IFRS.