Welcome to Week 9!
Have you registered for your exam yet? Please don’t forget to do so.
Each week, you will receive an email from me that will guide you and keep you on track. It’s easy to lose sight of the end-goal, but with a well structured weekly plan, it’ll be easier to focus on studying than on trying to figure out what to study.
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: Internal Controls
This week you begin a new section, Internal Controls. Only two weeks were allocated to this section. For this week, focus on Risk Assessment, Controls, and Risk Management.
A. Risk assessment, controls, and risk management
- Internal control structure and management philosophy
- Internal control policies for safeguarding and assurance
- Internal control risk
- Implications of the Sarbanes-Oxley Act of 2002
- U.S. Foreign Corrupt Practices Act internal control requirements
- COSO Internal Control Framework
Certified Management Accountant Part 2 – Section C: Decision Analysis & Risk Management
This is the last week on Section C. Focus on Pricing and on Risk Assessment. Take 4 days to study these two topics, and use the rest of the week to take mock exams of this section. If time permits, also take mock exams of Sections A, B, and C.
- Market comparables
- Setting prices
- Target costing
- Product life cycle considerations
- Market structure considerations
B. Risk assessment
- Risk identification and exposure
- Definition and scope of operational risk, hazard risk, financial risk and strategic risk
- Risk mitigation strategies
- Enterprise Risk Management
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.
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 and much more, please visit the Study Guide page and get your copy.
Keep your eyes on the ball. Until next week.