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 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 Revenue recognized in Year 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 | 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 Please remove “product testing” from inclusion as a prevention costs 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 | John Wiley and Sons, Inc  .. .WILEY CMAEXCEL LEARNING SYSTEM EXAM REVIEW 2 017 : SELF- STUDY GUIDE Part 1: Financial Reporting, Planning, Performance, and Control ISBN 978 -1- 119 -30544-6 (Part 1) Remove content... product testing is an appraisal cost Page: 5 91 Answer to Question 1D-ES03 Table A .1 Split-Off Value Total should be $1, 300,000 10 .13 .2 017 | Page | John Wiley and Sons, Inc ... parenthesis: “(Note the fixed overhead…will not appear on the CMA exam. )” Section D: Cost Management Topic 5: Business Process Improvement Page: 418 Please remove “product testing” from inclusion as a prevention