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IMA 2010
Certification of Management Accountant
New System Part ONE Essays
Each essay question actually consists of several related questions based on one scenario. The question as a whole is worth a set number of points and is graded against a scorecard to ensure consistent grading. The scorecard lists appropriate terms, topics, and ideas that address the answer. Presented here are two essay questions drawn from previous exams. The first essay question is followed by an example of an answer that would be awarded maximum points - a "best" answer. How these points are awarded is shown on a scorecard similar to ones used by the Institute of Certified Management Accountants (ICMA).
By: Mohamed “ hengoo” For the whole of honour to dvd4arab.com Hagah_5@hotmail.com
Essay Practice Questions
Question 1 (CMA Part 1) Brawn Technology Inc. is a manufacturer of large wind energy systems. The company has its corporate headquarters in Buenos Aires and a central manufacturing facility about 200 miles away. Since the manufacturing facility is so remote, it does not receive the attention or the support from the staff that the other units do. The president of Brawn is concerned about whether proper permits have been issued for new construction work being done to handle industrial waste at the facility. In addition, he wants to be sure that all occupational safety laws and environmental issues are being properly addressed. He has asked the company’s internal auditor to conduct an audit focusing on these areas of concern.
REQUIRED: A. Identify and describe the two fundamental types of internal audits. Using examples, describe two situations where each type of audit would be applicable. Referring to Brawn Technology, identify 1. the type of audit that would best address the concerns of the president. 2. the objective of this audit. 3. two reasons why this type of audit would best address the concerns of the president. C. Recommend two procedures that could be implemented
Certification of Management Accountant
New System Part ONE Essays
Each essay question actually consists of several related questions based on one scenario. The question as a whole is worth a set number of points and is graded against a scorecard to ensure consistent grading. The scorecard lists appropriate terms, topics, and ideas that address the answer. Presented here are two essay questions drawn from previous exams. The first essay question is followed by an example of an answer that would be awarded maximum points - a "best" answer. How these points are awarded is shown on a scorecard similar to ones used by the Institute of Certified Management Accountants (ICMA).
By: Mohamed “ hengoo” For the whole of honour to dvd4arab.com Hagah_5@hotmail.com
Essay Practice Questions
Question 1 (CMA Part 1) Brawn Technology Inc. is a manufacturer of large wind energy systems. The company has its corporate headquarters in Buenos Aires and a central manufacturing facility about 200 miles away. Since the manufacturing facility is so remote, it does not receive the attention or the support from the staff that the other units do. The president of Brawn is concerned about whether proper permits have been issued for new construction work being done to handle industrial waste at the facility. In addition, he wants to be sure that all occupational safety laws and environmental issues are being properly addressed. He has asked the company’s internal auditor to conduct an audit focusing on these areas of concern.
REQUIRED: A. Identify and describe the two fundamental types of internal audits. Using examples, describe two situations where each type of audit would be applicable. Referring to Brawn Technology, identify 1. the type of audit that would best address the concerns of the president. 2. the objective of this audit. 3. two reasons why this type of audit would best address the concerns of the president. C. Recommend two procedures that could be implemented