As there are 50 questions on each exam there is plenty of scope for the examiner to ensure that the whole syllabus is tested. Candidates are advised to study the whole syllabus in preparation for the exam.
The five sections are not represented by equal numbers of questions (or marks) in the exam.
Candidates should analyse the Management Accountant specimen exam to identify how many of the questions (and marks) relate to each study guide section.
Candidates would be expected to be able to identify the principal budget factor in a given situation and to know that this would be the starting point for budget construction.
Simple calculations are expected, for example, candidates should be able to calculate the amount of production possible from a given number of labour hours.
However, questions would not be set where different uses of a scarce resource have to be ranked by contribution per unit of the limiting factor.
No, candidates do not need to learn the format of statements of financial position or the format of statements of profit or loss.