CERTIFIED MANAGEMENT ACCOUNTANT EXAM STUDY GUIDE 2026 PRACTICE MATERIALS

CERTIFIED MANAGEMENT ACCOUNTANT
EXAM STUDY GUIDE 2026 PRACTICE
MATERIALS

●● Installment Year End
for receivables. Answer: Installment Sales (total)
******Cost of Installment sales (cost)
****** Deferred GP (Total-cost)
deferred GP year 1 (GP%*amount paid)
******Realized GP


***GP %= (total-cost)/total


●● Cost recovery method Year One
for receivables. Answer: Receivable (total)
Inventory (cost)
Deferred GP (difference)
Cash (paid)
Receivable


●● Cost Recovery Year two

,for receivables. Answer: cash (yr 2 pmt)
deferred GP (cumulative amt over cost collected to be realized as GP)
********Receivable (amt paid)
******** Realized GP (same as above)
Uncollectable:
Deferred GP
*********Recievable


●● % of completion method
long term construction. Answer: YR1:
Construction in progress (cost incurred YR1)
*****Cash
Construction in Progress **
*******Construction GP
**(cost yr 1/total expected cost)Total GP


Last Year of project:
Construction in progress (cost incurred last year)
********Cash


Cash (total amt paid for work)
****Construction in progress (difference)

, ****Construction GP (total GP-amt already recognized)


●● Completed Contract
for long term construction


(can't be used for IFRS). Answer: YR 1:
construction in progress (costs yr 1)
Cash
**don't recognize GP


Last Year of Project:
Construction in progress (costs last yr)
Cash
Cash (total amount paid for work)
Construction in progress (difference)
Construction GP (total GP)


●● Factoring Entry and Calculation. Answer: Amt of receivables
(reserve)
(factor's fee)
=amt accruing
(interest: calc from amount accruing)