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CMA Exam#1 IN-Depth Review of Budgeting& Forecasting

Master the learning objectives that will be tested by the CMA for Part 1 Section B
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Content

Platform: Udemy
Video: 1h 36m
Language: English
Next start: On Demand

Table of contents

Description

This course covers the IMA material in much more depth. There will be other companion couses covering every section of the Part 1 exam.The same learning outcomes are covered for the section on Budgeting and Planning  but the information is presented in a different fashion.
This course will further your preparation for the exam. Planning. Budgeting and Forecasting section of Part 1 Exam multiple-choice questions  will be 30% of the one hundred multiple choice questions on the exam.

Budgeting and financial forecasting are tools that companies use to establish a plan for where management wants to take the company—budgeting—and whether it is heading in the right direction—financial forecasting.
Although budgeting and financial forecasting are often used together, distinct differences exist between the two concepts. Budgeting quantifies the expectation of revenues that a business wants to achieve for a future period, whereas financial forecasting estimates the amount of revenue or income that will be achieved in a future period.
KEY TAKEAWAYS
•Budgeting is the financial direction of where management wants to take the company, helping quantify the expectation of revenues that a business wants to achieve for a future period,
•Financial forecasting tells whether the company is headed in the right direction, estimating the amount of revenue and income that will be achieved in the future.
•Budgeting creates a baseline to compare actual results to determine how the results vary from the expected performance.
•Financial forecasting is used to determine how companies should allocate their budgets for a future period, but unlike budgeting, financial forecasting does not analyze the variance between financial forecasts and actual performance.
A budget is an outline of expectations for what a company wants to achieve for a particular period, usually one year. Characteristics of budgeting include:
•Estimates of revenues and expenses.
•Expected cash flows.
•Expected debt reduction.
•A budget is compared to actual results to calculate the variances between the two figures.
Budgeting represents a company’s financial position, cash flow, and goals. A company’s budget is usually re-evaluated periodically, usually once per fiscal year, depending on how management wants to update the information. Budgeting creates a baseline to compare actual results to determine how the results vary from the expected performance.
While most budgets are created for an entire year, that is not a hard-and-fast rule. For some companies, management may need to be flexible and allow the budget to be adjusted throughout the year as business conditions change.
Financial Forecasting
Financial forecasting estimates a company’s future financial outcomes by examining historical data. Financial forecasting allows management teams to anticipate results based on previous financial data. Characteristics of financial forecasting include:
•Used to determine how companies should allocate their budgets for a future period. Unlike budgeting, financial forecasting does not analyze the variance between financial forecasts and actual performance.
•Regularly updated, perhaps monthly or quarterly, when there is a change in operations, inventory, and business plan.
•Can be created for both short-term and long-term. For example, a company might have quarterly forecasts for revenue. If a customer is lost to the competition, revenue forecasts might need to be updated.
•A management team can use financial forecasting and take immediate action based on the forecasted data.

You will learn

✓ Have a winning strategy to answer the IMA multiple choice questions.
✓ Get a passing mark on the multiple chose questions in part 1 of the CMA exam
✓ Develop an effective approach to answering the essay question part of the exam
✓ Know the important concepts & be able to answer questions on Strategic planning
✓ Know what important concepts that the IMA will test
✓ This section is worth 30% on the multiple choice section of the exam and would also likely be the material covered in one of the two essay questions.

Requirements

• Knowledge of excel. A management accounting textbook.

This course is for

• You must have a university degree.

How much does the CMA Exam#1 IN-Depth Review of Budgeting& Forecasting course cost? Is it worth it?

The course costs $19.99.
The average price is $17.0 of 24 Certified Management Accountant (CMA) courses. So this course is 18% more expensive than the average Certified Management Accountant (CMA) course on Udemy.

Does the CMA Exam#1 IN-Depth Review of Budgeting& Forecasting course have a money back guarantee or refund policy?

YES, CMA Exam#1 IN-Depth Review of Budgeting& Forecasting has a 30-day money back guarantee. The 30-day refund policy is designed to allow students to study without risk.

Are there any SCHOLARSHIPS for this course?

At the moment we could not find an available scholarship for CMA Exam#1 IN-Depth Review of Budgeting& Forecasting.

Who is the instructor? Is John Mclellan a SCAM or a TRUSTED instructor?

John Mclellan has created 25 courses that got 720 reviews which are generally positive. John Mclellan has taught 8,328 students and received a 4.1 average review out of 720 reviews. Depending on the information available, John Mclellan is a TRUSTED instructor.
Professor of Accounting
  I am a Professor of Accounting with over thirty-five years experience teaching accounting to college students, undergraduate and MBA university students as well as CMA candidates  seeking to earn their Professional Certified Management Accountant Designation.
        I achieved my Certified Management Accountant Designation 40  years ago. With that I then earned my Masters of Business Administration degree and later a PHD in accounting. 
I have developed and will continue to develop a number of courses in both Financial Accounting and Management Accounting for you –  a college or university student (or even a secondary student) to help you to achieve the best result in your undergraduate accounting course. If you get an “A” from me I guarantee you will get an “A” from your accounting prof.
For Graduate students, I have a course to prepare those of you who do not have a business degree for the Masters of Business Administration. Also I have a course at the masters level called Managerial Accounting.
For CMA Candidates, I have courses  to prepare you  to successfully pass  their Certified Management Accounting Exams offered by  Institute of Management Accountants.

        Dr. John 
Browse all courses by on Coursemarks.
Platform: Udemy
Video: 1h 36m
Language: English
Next start: On Demand

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