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

Course Content
A- Cost Management: (20%)
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Cost and variance measures, responsibility centers and reporting segments, performance measures.
B- Planning, Budgeting & Forecasting: (30%)
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Budgeting concepts, forecasting techniques, budgeting methodologies, annual profit plan and supporting schedules, top-level planning and analysis
C- Performance Management : (20%)
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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%)
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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%)
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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.
CMA Part 1 (Certified Management Accountant
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