CMA Management Tools-Know Strategic Planning & Forecasting, Part1 – Section 2 – B1 Strategic planning & B 3 Forecasting techniques. Concepts all managers need to know & understand.
Course Description
B. Planning, Budgeting and Forecasting (30% of exam questions – Levels A, B, and C Multiple choice questions)
This course is a very comprehensive review of the many Budgeting Management issues that are tested by the Institute of Management Accountants on their Certified Management Accounting exams. The course covers the five subtopics such as
1. Strategic planning
a. Analysis of external and internal factors affecting strategy
b. Long-term mission and goals
c. Alignment of tactics with long-term strategic goals
d. Strategic planning models and analytical techniques
e. Characteristics of successful strategic planning process
3. Forecasting techniques
a. Regression analysis
b. Learning curve analysis
c. Expected value
A budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another. In terms of the bottom line—or the end result of this trade-off—a surplus budget means profits are anticipated, a balanced budget means revenues are expected to equal expenses, and a deficit budget means expenses will exceed revenues.
To manage your monthly expenses, prepare for life’s unpredictable events, and be able to afford big-ticket items without going into debt, budgeting is important. Keeping track of how much you earn and spend doesn’t have to be drudgery, doesn’t require you to be good at math, and doesn’t mean you can’t buy the things you want. It just means that you’ll know where your money goes, you’ll have greater control over your finances.
Each section contains an overview lecture. Each Learning Outcome that could be on the test is covered in detail with study notes provided and quizzes that contain past CMA exam questions on that section.
To be successful writing the CMA, you must practice, practice and practice. This course requires that of you.
Dr. John
