GAQM CPFA-001 : Certified Professional Financial Accountant (CPFA)

Pass CPFA-001 Exam Cram

Exam Code: CPFA-001

Exam Name: Certified Professional Financial Accountant (CPFA)

Updated: Jul 20, 2026

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GAQM CPFA-001 Exam Syllabus Topics:
SectionObjectives
Accounting and Its Use in Business Decisions- Business Accounting Fundamentals
  • 1. Accounting Defined
  • 2. The Accounting Environment
  • 3. Dividends and Equity Ratios
  • 4. Overview of Accounting
  • 5. Financial Statements of Business Organizations
  • 6. How Transactions Affect Income Statements and Balance Sheets
  • 7. The Financial Accounting Process
Adjustments for Financial Reporting- Adjusting Entries
  • 1. Cash versus Accrual Basis Accounting
  • 2. Classes and Types of Adjusting Entries
  • 3. Adjustments for Accrued Items
  • 4. Depreciation Adjustments
  • 5. Adjustments for Deferred Expenses
Accounting - Merchandising Transactions- Merchandising Transactions
  • 1. Classified Income Statement
  • 2. Returns and Allowances
  • 3. Gross Selling Price
  • 4. Cost of Goods Sold
Accounting - Receivables and Payables- Receivables and Liabilities
  • 1. Write-offs and Recoveries
  • 2. Uncollectable Accounts
  • 3. Notes Receivable and Notes Payable
  • 4. Short-Term Financing Through Notes Payable
  • 5. Accounts Receivable
  • 6. Current Liabilities
Measuring and Reporting Inventory- Inventory Management
  • 1. Merchandise Inventory
  • 2. Departures from Cost Basis for Inventory Measurement
  • 3. Determining Inventory Costs
  • 4. Journal Entries for Perpetual Inventory Procedure
  • 5. Advantages and Disadvantages of Inventory Costing Methods
  • 6. Four Inventory Costing Methods
Accounting - Control and Monitoring of Cash Assessment- Cash Control
  • 1. Controlling Cash
  • 2. Bank Checking Account
  • 3. Petty Cash Fund
  • 4. Control of Cash
  • 5. Bank Reconciliation
  • 6. Internal Controls
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