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GAQM CPFA-001 (Certified Professional Financial Accountant) Exam is a globally recognized certification that validates the skills and knowledge of finance professionals. CPFA-001 exam is designed to test the proficiency of candidates in the field of financial accounting and reporting, budgeting, taxation, and auditing. Certified Professional Financial Accountant (CPFA) certification is awarded by the Global Association for Quality Management (GAQM), which is a leading international organization that offers various certifications in the field of quality management and technology.
The CPFA exam covers a wide range of topics, including financial reporting, financial analysis, taxation, audit and assurance, and corporate finance. It is suitable for individuals who have a basic understanding of financial accounting and wish to enhance their skills and knowledge in this field. CPFA-001 exam is also ideal for those who have experience in finance and accounting and want to validate their expertise.
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The CPFA-001 certification exam is a computer-based exam that consists of 90 multiple-choice questions. CPFA-001 exam is divided into two sections, each of which has a time limit of two hours. The first section covers financial accounting and reporting, while the second section covers financial management and analysis. CPFA-001 exam is designed to test the candidates' understanding of the principles and concepts of financial accounting and their ability to apply these concepts in real-world scenarios.
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The CPFA-001 exam is administered by the Global Association for Quality Management (GAQM), a leading international organization that offers certification programs in various fields, including finance and accounting. GAQM is known for its rigorous certification standards, and the CPFA-001 exam is no exception. CPFA-001 exam is challenging and requires candidates to have an in-depth understanding of financial accounting concepts and practices.
GAQM CPFA-001 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Receivables and Payables | - Uncollectible Accounts & Write-offs - Current Liabilities - Short-term Financing - Notes Receivable and Notes Payable - Accounts Receivable Management |
| Adjustments for Financial Reporting | - Adjusting Entries Classification - Deferred Expenses & Depreciation - Accrued Revenues & Expenses - Cash vs Accrual Basis Accounting |
| Control and Monitoring of Cash | - Bank Reconciliation - Internal Control Principles - Petty Cash Fund Management - Bank Checking Account Procedures |
| Measuring and Reporting Inventory | - Perpetual Inventory Entries - Determining Inventory Costs - Lower of Cost or Market Rule - Four Inventory Costing Methods - Merchandise Inventory Basics |
| Accounting and Business Decision Making | - Entity Types & Equity Reporting - Financial Statements Structure - Impact of Transactions on Statements - Accounting Environment & Framework |
| Accounting - Merchandising Transactions | - Sales Returns and Allowances - Gross Selling Price - Classified Income Statement - Cost of Goods Sold |
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