CMA Part 1 Hardest Topics 2026: 6 Sections Ranked
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Which of the following financial statements reports a company's financial position at a specific point in time?
Cma Financial Reporting
Question · Easy
ASC 606: the trailer
Short
~45% fail CMA Part 1. See the 6 hardest topics ranked for 2026, plus the new CBQ format replacing essays. Free study strategies included.
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Balance Sheet
Financial Reporting
Flashcard
Under GAAP, which of the following is classified as a current asset on the balance sheet?
Question · Medium
US nongovernmental financial reporting rules whose single authoritative source is the FASB's Codification.
External Financial Reporting
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Introduction
About the CMA Part 1 Exam
Study guide
Cheat sheet
A company has total assets of $500,000, total liabilities of $300,000, and retained earnings of $120,000. What is the company's contributed capital (paid-in capital)?
Read the clue and guess the term in 6 tries.
Game
FREE CMA Part 1 Exam Guide 2026: Pass Your Management Accountant Certification
Income Statement
Which section of the statement of cash flows reports cash paid for the purchase of equipment?
Accounting rules set by the IASB and required in more than 140 jurisdictions for companies' published results.
A company reports net income of $150,000, depreciation expense of $25,000, an increase in accounts receivable of $10,000, and a decrease in accounts payable of $8,000. Using the indirect method, what is the net cash provided by operating activities?
Statement of Cash Flows
Which of the following would cause comprehensive income to differ from net income?
Contract giving a tenant the right to use an asset; under Topic 842, most such contracts now put assets and liabilities on the balance sheet.
Exam Structure and Content Breakdown
A company has the following data: beginning inventory $40,000, purchases $180,000, ending inventory $35,000, and sales revenue $320,000. What is the gross profit margin?
Swap tiles to line up three of the same term.
Term Match
Accrual Basis Accounting
Under the multi-step income statement format, which of the following is subtracted from gross profit to arrive at operating income?
___-based budget: managers review current objectives, operations, and costs, consider alternatives, and rank programs by order of importance.
Planning, Budgeting, and Forecasting
A company has a current ratio of 2.5 and current liabilities of $200,000. If the company pays off $50,000 of accounts payable with cash, what is the new current ratio?
Question · Hard
Revenue Recognition (ASC 606)
Which of the following transactions would be reported as a financing activity on the statement of cash flows?
Learning ___: a technique that records measured production efficiencies when a manufacturer makes many units, on the premise that repeated tasks are done better over time.
Pass Rates and Scoring
Under ASC 606, the first step in the five-step revenue recognition model is to:
Flip two cards at a time to find matching terms.
Term Pairs
Current vs Non-Current Assets
Under ASC 606, revenue is recognized when:
___ squares: one of the two major parameter-estimation methods for process models.
A software company sells a license and a two-year support contract for a combined price of $120,000. The standalone selling price of the license is $90,000 and the standalone selling price of the two-year support is $60,000. How much of the transaction price should be allocated to the license?
Depreciation Methods
A construction company uses the percentage-of-completion method. The contract price is $5,000,000, estimated total costs are $4,000,000, and costs incurred to date are $1,600,000. How much revenue should be recognized to date?
Responsibility ___: an organizational unit headed by a manager or group of managers who answer for its activities.
Performance Management
How to Use This Study Guide
Under ASC 606, which of the following is an indicator that a performance obligation is satisfied over time rather than at a point in time?
Find five hidden terms in a grid of letters.
Term Search
Inventory Valuation Methods
A company receives $36,000 on January 1 for a 12-month service contract. By March 31, how much revenue should be recognized and how much should be reported as a contract liability (unearned revenue)?
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