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For the balance sheet, income statement, statement of changes in equity, and the statement of cash flows, the candidate should be able to identify the users of these financial statements and their needs This quiz must be completed in 5 minutes. Click here to start the quiz 300 For the balance sheet, income statement, statement...
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Recorded CMA lectures for part one (Explain in English)
lectures No. zero
Section A : External Financial Reporting Decisions
Lecture No. 1 :Financial reporting between user and types
Recorded CMA lectures for part one (Explain in Arabic)
lectures No. 1
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For a retail store, cost of goods sold don’t include
A.Manufacturing Labor costs
B.Manufacturing overhead costs
C.Manufacturing Materials costs
D. All of the above
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The Correct Answer
D
……… useing financial reporting to negotiate wages & fringe benefits.
A.Shareholder
B.Suppliers
C.Regulatory agencies
D.Employee
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The Correct Answer
D
The Explanation
the salary policy of employees according to negotiation such areas as pay, fringe benefits (such as Medical insurance and retirement plans) , work schedules; that based on the employees ’contribution to the firm’s performance
Project the firm’s sales. Most other forecasts (budgets) follow the sales forecast. The statistical methods of forecasting sales except
A.Time-series analysis
B.Exponential smoothing
C.Regression analysis
D.Previous experience
The Correct Answer
D
The Explanation
Previous experience don’t classified as a statistical method of forecasting sales
Next; External stakeholder except
A.Government agencies
B. Creditors
C. board of directors (BOD)
D. Lenders
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The Correct Answer
C
The Explanation
|
Users of Financial Statements |
External Users | Internal Users | Direct Interests | Indirect Interests |
|
Management board of directors(BOD) Employees manager directors Owner investor Shareholder |
√ | √ |
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| ———————————-
potential investors Suppliers Creditors bondholder |
√ | √ |
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———————————- Regulatory agencies Government agencies Stock markets financial advisors |
√ |
√ |
The role of CMA’S holder in their firms.
A. Decision making
B. Decision support
C. Follow-up
D. all the above
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The correct answer
B. Decision support
Explanation
CMA’S holder use a quantitative methods to determine the benefits, adaptations and risks for decision , and this is presented to the decision maker, who may be the owners, board of directors, or executive director.