The material is divided into eight chapters, which include the Fundamentals of Accounting, which covers the basics of the subject including the Fundamentals of Financial Statements, General Ledger Theory, Statement of Ownership, Statement of Operations, Statement of Cash Flow, Statement of Financial Position, Statement of Shareholders’ Equity, Balance Sheet and Statement of Strategic Business Analysis. The Fundamentals of Accounting chapter also provides in depth descriptions of accounting terminology.
The next section, Introduction to Management Accounting, provides in depth descriptions of managerial accounting topics such as leadership, goals and objectives, financial reporting, budget planning, sales and marketing, financial analysis and the measurement of performance. The fourth section, Managing Cash and Capital, provides the fundamental principles of managing cash and capital, including the concept of a firm’s capital structure and cash flow. This section also discusses the importance of determining the appropriate use of capital for business operations, which includes a discussion of asset allocation and the development of an effective capital management plan. The fifth section, Managing Debt and Credit, provides detailed information on the accounting for debt and credit.
The sixth section, The Business Finance area focuses on the accounting of sales, expenses, revenue and profit. The topic includes the basics of business accounting such as cost accounting and income statement preparation. The seventh section, Business Strategy and Management, discusses the areas of planning, forecasting, and marketing of a company’s products and services. The topics include the concepts of market share, strategic planning, sales forecasting, marketing forecasting and competitive intelligence. The eighth and final section, Strategy and Business Development, include discussions of developing a strategy and the process of implementation.
As with any other study course or certification exam, the material required for a decision making course exam must be thorough enough to prepare you for success on the examination. If you have questions about the material, you should consult a professional accountant or a qualified book.
Because a decision making exam will be administered by the Institute, you should ensure that the material in the book has been approved by the Board of Examination, which is based at the University of Phoenix. You will also want to review the course manual before you begin taking the test. There are a number of books that provide a detailed explanation of the material covered in the exam and will provide specific information about which materials should be reviewed in advance and what questions will be asked during the examination. You will also be advised by a certified public accountant to review the material to prepare you for the examination.
Taking the exam is a lot of work and it will not be completed quickly. In fact, the process may take several months to complete one exam. When preparing for the exam, you will want to make sure that your knowledge is complete so that you can fully understand the concepts of the material. If you find that you do not fully understand something, you should read over the material again until you understand it.
You will also want to review the book several times, checking the explanations and notes as needed. This book is designed to assist you through the examination so you will want to spend time reading the material, but you will also want to check the notes so that you are able to review the material when you need to.