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Table of Contents
Section D – Cost Management ......................................................................................... 1
D.1. Measurement Concepts............................................................................................. 2
Why Cost Management? 2
Classifications of Costs 3
Product Costs vs. Period Costs 3
Costs Based on Level of Activity (Fixed, Variable and Mixed Costs) 5
Introduction to Costing Systems 11
Introduction to Cost Accumulation Methods 12
Introduction to Cost Measurement Systems 12
Cost of Goods Sold (COGS) and Cost of Goods Manufactured (COGM) 20
Variable and Absorption Costing................................................................................... 22
Fixed Factory Overheads Under Absorption Costing 22
Fixed Factory Overheads Under Variable Costing 23
Effects of Changing Inventory Levels 23
Income Statement Presentation 25
Joint Products and Byproducts ..................................................................................... 33
Methods of Allocating Costs to Joint Products 33
Accounting for Byproducts 41
D.2. Costing Systems ...................................................................................................... 44
Review of Introduction to Costing Systems 44
Process Costing .............................................................................................................. 44
Steps in Process Costing 46
Process Costing Diagram – FIFO 59
Process Costing Diagram – Weighted Average 60
Process Costing Summary 61
Process Costing Examples 62
Spoilage in Process Costing 67
Job-Order Costing........................................................................................................... 72
Operation Costing ........................................................................................................... 74
Life-Cycle Costing ........................................................................................................... 74
Customer Life-Cycle Costing.......................................................................................... 76
D.3. Overhead Costs........................................................................................................ 77
Introduction to Accounting for Overhead Costs 77
Traditional (Standard) Allocation Method 79
Activity-Based Costing 91
Shared Services Cost Allocation 98
Allocating Costs of a Single (One) Service or Support Department to Multiple Users 99
Allocating Costs of Multiple Shared Service Departments 102

 


Estimating Fixed and Variable Costs........................................................................... 109
High-Low Points Method 109
D.4. Supply Chain Management ................................................................................... 112
What is Supply Chain Management? 112
Lean Resource Management 113
Just-in-Time (JIT) Inventory Management Systems 117
Kanban 119
Introduction to MRP, MRPII, and ERP 120
Outsourcing 123
Theory of Constraints (TOC) 123
Capacity Level and Management Decisions 135
D.5. Business Process Improvement........................................................................... 138
The Value Chain and Competitive Advantage 138
Process Analysis 144
Business Process Reengineering 144
Benchmarking Process Performance 146
Activity-Based Management (ABM) 146
The Concept of Kaizen 147
The Costs of Quality 148
ISO 9000 158
Quality Management and Productivity 158
Other Quality Related Issues 158
Accounting Process Redesign 161
Section E – Internal Controls ....................................................................................... 166
E.1. Governance, Risk, and Compliance ..................................................................... 167
Corporate Governance 167
Responsibilities of the Board of Directors 173
Audit Committee Requirements, Responsibilities and Authority 173
Responsibilities of the Chief Executive Officer (CEO) 176
Election of Directors 176
Internal Control.............................................................................................................. 177
Internal Control Definition 177
The Importance of Objectives 179
Who Is Responsible for Internal Control? 179
Components of Internal Control 180
What is Effective Internal Control? 190
Transaction Control Objectives 190
Types of Transaction Control Activities 190
Safeguarding Controls 191
Legislative Initiatives About Internal Control ............................................................. 195


Foreign Corrupt Practices Act (FCPA) 195
Sarbanes-Oxley Act and the PCAOB 196
External Auditors’ Responsibilities and Reports........................................................ 202
Financial Statement Opinion 202
Internal Control Opinion 204
Reviews and Compilations 204
Reports to the Audit Committee of the Board of Directors 205
E.2. Systems Controls and Security Measures........................................................... 206
Introduction to Systems Controls 206
Threats to Information Systems 207
The Classification of Controls 208
General Controls 209
Application Controls 217
Controls Classified as Preventive, Detective and Corrective 225
Controls Classified as Feedback, Feedforward and Preventive 226
System and Program Development and Change Controls ........................................ 227
Internet Security ............................................................................................................ 232
Viruses, Trojan Horses, and Worms 233
Cybercrime 234
Business Continuity Planning...................................................................................... 238
System Auditing ............................................................................................................ 240
Assessing Controls by Means of Flowcharts 240
Computerized Audit Techniques 241
Section F – Technology and Analytics ........................................................................ 244
Introduction to Technology and Analytics 244
F.1. – Information Systems ........................................................................................... 244
The Value Chain and the Accounting Information System 244
The Supply Chain and the Accounting Information System 245
Automated Accounting Information Systems (AIS) 245
Databases 258
Enterprise Resource Planning Systems 261
Data Warehouse, Data Mart, and Data Lake 264
Enterprise Performance Management 266
F.2. Data Governance .................................................................................................... 267
Definition of Data Governance 267
IT Governance and Control Frameworks 267
Data Life Cycle 278
Records Management 279
Cyberattacks 280

 


F.3. Technology-enabled Finance Transformation..................................................... 285
Systems Development Life Cycle (SDLC) 285
Business Process Analysis 285
Robotic Process Automation (RPA) 286
Artificial Intelligence (AI) 288
Cloud Computing 290
Blockchains, Distributed Ledgers, and Smart Contracts 293
F.4. Data Analytics......................................................................................................... 301
Business Intelligence (BI) 302
Data Mining 306
Analytic Tools 313
Visualization 336
Answers to Questions...................................................................................................

Hock_P1_2020CMA_P1_Text_V1_Aug19_A4.pdf Hock_P1_2020CMA_P1_Text_V2_Aug19_A4.pdf


Abdelghaffar Abouelghait
Accounting Manager, Alshamer Group

+966017220799 | +9660172208222 | +966501699274 |

 a.abouelghait@alshamergroup.com | http://alshamergroup.com | 

Skype: +966590966612 |+966501699274

 saudi Arabia, Khamis mushait , OPP the Businessmen Tower |

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