2017 part 1 wiley CMAexcel learning system exam review self study guide

ISBN 978-1-119-30544-6
(Part 1)

WILEY CMAEXCEL LEARNING SYSTEM EXAM REVIEW 2017:
SELF-STUDY GUIDE
Part 1: Financial Reporting, Planning, Performance, and Control

ERRATA
Added text is underlined. Deleted text is struck out. Modified text is in bold. In some cases, additional
text, before and/or after the change, may be included to clarify the context or specific location. Italicized
text is FYI.
Section A: External Financial Reporting Decisions
Topic 1: Financial Statements
Page: 16
Figure 1A-9 change as follows:
Increase (decrease) Decrease (increase) in merchandise inventory
Topic 2: Recognition, Measurement, Valuation, and Disclosure
Page: 26
At the bottom of the page, remove parenthesis (0.98)
Page: 51
Cr. Investment in XYZ stock
420,000 400,000
Undervalued depreciable assets ($1 million/10 years)
$ 100,000
Unrecorded intangibles ($1.5 million/15 5 years)
300,000
Total
$ 400,000
Page: 86
Correction to the last sentence in the third paragraph: Also, during the year the company billed the
customer $2,250,000 and received $1,875,000 in payments.

Page: 89
Figure 1A-41 Computation of Recognizable Loss in Current Period: In the table, change the following:
Revenue recognized in Year 2: ($11,500,000 $11,250,000* × 45.45%) – $2,812,500†
*(Contract price × 45.45%) - revenue recognized in Year 1 Revenue recognized in Year 2 on project.
Section B: Planning, Budgeting, and Forecasting
Page: 175
Figure 1B-21: The title of the second column, “Cumulative Average Time per Unit” should be swapped
with the fourth column “Time Spent on Most Recent Unit”
Page: 180
Question 4: R-squared line should be drawn to last definition; SE line should be drawn to first definition;
T-value line should be drawn to middle definition
Section C: Performance Management
Topic 1: Cost and Variance Measures
Page: 255
Remove sentence: The following will not be expected of you on the CMA exam.
10.13.2017

| Page 1

| John Wiley and Sons, Inc.


WILEY CMAEXCEL LEARNING SYSTEM EXAM REVIEW 2017:
SELF-STUDY GUIDE
Part 1: Financial Reporting, Planning, Performance, and Control

ISBN 978-1-119-30544-6
(Part 1)

Remove content in parenthesis: “(Note the fixed overhead…will not appear on the CMA exam.)”

Section D: Cost Management
Topic 5: Business Process Improvement
Page: 418
1. Please remove “product testing” from inclusion as a prevention costs.
2. Please make note that product testing is an appraisal cost.

Page: 591
Answer to Question 1D-ES03
Table A.1.
Split-Off Value Total should be $1,300,000

10.13.2017

| Page 2

| John Wiley and Sons, Inc.