Certified Profitability Analysis Pro - CPAP™

Certified Profitability Analysis Pro - CPAP™

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Certification Overview

Cost accounting is a facet of management accounting that determines the actual cost associated with manufacturing a product or providing a service by looking at all expenses within the supply chain. It is done for the purpose of budget preparation and profitability analysis. The information derived from this process is useful to managers in determining which products, departments or services are most profitable and which ones need improvement.

Cost accounting involves determining fixed and variable costs. Fixed costs are expenses that recur each month regardless of the level of production. Examples include rent, depreciation, interest on loans and lease expenses. Variable costs are expenses that fluctuate with changes in production level, such as supplies, labor, and maintenance expenses. These costs are related to production in that the more units of a product produced, the more expense there is associated with the materials and labor that went into making the product.

Cost accountants are responsible for the collection, adjustment, auditing and scrutinizing of all financial information. The purpose of cost accounting is for budget preparation and profitability analysis. They collate the numbers which includes data about planning systems, wages, bonuses and operating policies into financial reports. The purpose of this is to help the management take decisions on the basis of this information.

The CPAP™ Certification requires strong technical skills as cost accountants spend a lot of time analyzing data so they need to have some experience with the latest software. They also need to have strong analytical skills and interest in finance.

The Certified Profitability Analysis Pro - CPAP™ is a foundational credential awarded by ITQMA to professionals who have demonstrated core competency in project frameworks


Exam Code: CPAP™-001

Exam Information

The exam comprises of 50 Multiple Choice Questions out of which the candidate needs to score 70% (35 out of 50 correct) to pass the exam.

The total duration of the exam is 1 hour (60 Minutes).

  • The exam is conducted in AI-proctored mode and can be taken anytime, anywhere within an eight-month validity period.
  • Upon purchasing the Premium Package or an Exam Voucher Code, a voucher code with two attempts will be assigned to your login profile under the "My Vouchers" tab. You can then take the exam through the "My Exam(s)" tab in your profile. To take the exam, simply apply the voucher code.

  • The Exam Voucher included in the Premium Package or purchased separately is valid for two (2) attempts. If you are unable to pass the exam within these two attempts, you can purchase a new voucher code, which will grant you an additional two attempts.
  • Kindly Note: The voucher will not be valid for a second attempt if you pass the exam on your first attempt.

The CPAP™® Certificate is valid for life.

The CPAP™® is a Registered Trademark of ITQMA.

Note: CPAP™® Certification has no pre-requisites.

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Course Outline

Module Information - 1

  • Module 1 - The Manager and Management Accounting
  • Module 2 - An Introduction to Cost Terms and Purposes
  • Module 3 - Cost-Volume-Profit Analysis
  • Module 4 - Job Costing
  • Module 5 - Activity-Based Costing Activity Based Management
  • Module 6 - Master Budget and Responsibility Accounting
  • Module 7 - Flexible Budgets, Direct-Cost Variances, and Management Control
  • Module 8 - Flexible Budgets, Overhead Cost Variances, and Management Control

Module Information - 2

  • Module 9 - Inventory Costing and Capacity Analysis
  • Module 10 - Determining How Costs Behave
  • Module 11 - Decision Making and Relevant Information
  • Module 12 - Pricing Decisions and Cost Management
  • Module 13 - Strategy, Balanced Scorecard, and Strategic Profitability Analysis
  • Module 14 - Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
  • Module 15 - Allocation of Support-Department Costs, Common Costs, and Revenues

Module Information - 3

  • Module 16 - Cost Allocation: Joint Products and Byproducts
  • Module 17 - Process Costing
  • Module 18 - Spoilage, Rework, and Scrap
  • Module 19 - Balanced Scorecard
  • Module 20 - Inventory Management, Just-in-Time and Simplified Costing Methods
  • Module 21 - Management Control Systems, Transfer Pricing, and Multinational Considerations
  • Module 22 - Capital Budgeting and Cost Analysis
  • Module 23 - Performance Measurement, Compensation, and Multinational Considerations
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Target Audience

Students of accounts/finance/costing: If you’re a student of any of the domain – costing, accounting, or finance, this course is perfect for you. You would get so much value out of this course that you may not need to study any other material on the cost accounting.

Cost/Finance/Management accounting professionals: If you’re already a cost accounting/finance accounting/management accounting professional, you can use the course as a refresher or an additional edge for your professional upliftment.

Certified Profitability Analysis Pro - CPAP™ are trademarks of ITQMA (IT Quality Management Association). All rights reserved.