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GAQM CPFA-001 Exam Syllabus Topics:

SectionObjectives
Measuring and Reporting Inventory- Inventory Management
  • 1. Merchandise Inventory
  • 2. Advantages and Disadvantages of Inventory Costing Methods
  • 3. Journal Entries for Perpetual Inventory Procedure
  • 4. Determining Inventory Costs
  • 5. Departures from Cost Basis for Inventory Measurement
  • 6. Four Inventory Costing Methods
Adjustments for Financial Reporting- Adjusting Entries
  • 1. Depreciation Adjustments
  • 2. Classes and Types of Adjusting Entries
  • 3. Cash versus Accrual Basis Accounting
  • 4. Adjustments for Deferred Expenses
  • 5. Adjustments for Accrued Items
Accounting - Control and Monitoring of Cash Assessment- Cash Control
  • 1. Bank Checking Account
  • 2. Control of Cash
  • 3. Bank Reconciliation
  • 4. Petty Cash Fund
  • 5. Controlling Cash
  • 6. Internal Controls
Accounting - Receivables and Payables- Receivables and Liabilities
  • 1. Accounts Receivable
  • 2. Uncollectable Accounts
  • 3. Short-Term Financing Through Notes Payable
  • 4. Notes Receivable and Notes Payable
  • 5. Write-offs and Recoveries
  • 6. Current Liabilities
Accounting - Merchandising Transactions- Merchandising Transactions
  • 1. Gross Selling Price
  • 2. Classified Income Statement
  • 3. Cost of Goods Sold
  • 4. Returns and Allowances
Accounting and Its Use in Business Decisions- Business Accounting Fundamentals
  • 1. The Accounting Environment
  • 2. Overview of Accounting
  • 3. Accounting Defined
  • 4. How Transactions Affect Income Statements and Balance Sheets
  • 5. Dividends and Equity Ratios
  • 6. Financial Statements of Business Organizations
  • 7. The Financial Accounting Process

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