Welcome to Week 7!
This week you are beginning the second half of the study plan. Good job! How are you feeling about your progress overall? Is the pace of the study plan manageable or are you finding yourself playing catch up? I’d like to hear from you. My email is [email protected]
A quick tip before you begin: Try to study at least 3 hours a day, and in the weekends a little more if your schedule permits.
Let’s get started shall we?
Certified Management Accountant Part 1 – Section D: Cost Management (Continued)
In this week, your focus should be on Costing Systems and Overhead Costs. After this week, there’s one more week to go on Section C.
1. Costing systems
- Job order costing
- Process costing
- Activity-based costing
- Life-cycle costing
2. Overhead costs
- Fixed and variable overhead expenses
- Plant-wide versus departmental overhead
- Determination of allocation base
- Allocation of service department costs
Certified Management Accountant Part 2 – Section C: Decision Analysis
In this week, focus on CVP Analysis and on Marginal Analysis.
1. Cost/volume/profit analysis
- Breakeven analysis
- Profit performance and alternative operating levels
- Analysis of multiple products
2. Marginal analysis
- Sunk costs, opportunity costs and other related concepts
- Marginal costs and marginal revenue
- Special orders and pricing
- Make versus buy
- Sell or process further
- Add or drop a segment
- Capacity considerations
Closing
Try to focus only on studying these topics. If you finish studying before the end of the week, go over your notes and formulas to harness your knowledge.
If you find the content hard to learn, perhaps having an instructor by your side helping you each step of the way may be better than self-studying. Check out the video below that explains more about this and about my online CMA video prep course:
This weekly study plan is a simplified version of the study plan in my CMA Coach Study Guide.
If you’d like a more in-depth guide that includes exam tips, exam formula guides and much more, please visit the Study Guide page and get your copy. This is a must-have guide if you plan to self-study.
Until next week,
