Title Details

IMA, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 65,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, NJ, USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.

Candidate Study Information xi

How to Use the CMA Learning System® xv

Create a Study Plan xix

Introduction 1

Section A

Planning, Budgeting, and Forecasting 3

Topic 1: Budgeting Concepts 5

Topic 2: Forecasting Techniques 23

Topic 3: Budgeting Methodologies 47

Topic 4: Annual Profi t Plan and Supporting Schedules 59

Topic 5: Top-Level Planning and Analysis 87

Practice Questions: Planning, Budgeting, and Forecasting 105

Section B

Performance Management 115

Topic 1: Cost and Variance Measures 117

Topic 2: Responsibility Centers and Reporting Segments 151

Topic 3: Performance Measures 163

Practice Questions: Performance Management 191

Section C

Cost Management 201

Topic 1: Measurement Concepts 203

Topic 2: Costing Systems 229

Topic 3: Overhead Costs 261

Topic 4: Operational Effi ciency 279

Topic 5: Business Process Performance 297

Practice Questions: Cost Management 313

Section D

Internal Controls 325

Topic 1: Risk Assessment, Controls, and Risk Management 327

Topic 2: Internal Auditing 349

Topic 3: Systems Controls and Security Measures 363

Practice Questions: Internal Controls 383

Section E

Professional Ethics 389

Topic 1: Ethical Considerations for Management Accounting and

Financial Management Professionals 393

Practice Questions: Professional Ethics 405

Essay Exam Support Materials 407

Essay Exam Study Tips 411

Examples of Essay Question Answers 413

Practice Essay Questions and Answers 423

Answers to Section Practice Questions 481

Appendix A: ICMA Learning Outcome Statements—Part 1 545

Bibliography 557

Registration for the Wiley CMA Learning System Exam Review 561

Index 565