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WGU Accounting-for-Decision-Makers Exam Syllabus Topics:

SectionObjectives
Decision Making and Performance Evaluation- Capital budgeting techniques (NPV, IRR, Payback Period)
- Responsibility accounting and performance metrics
- Balanced Scorecard concepts
- Make-or-buy and special order decisions
- Relevant costs for decision making
Financial Statement Analysis- Horizontal and vertical analysis
- Interpreting financial data for decision-making purposes
- Ratio analysis (liquidity, profitability, solvency, efficiency ratios)
Budgeting and Planning- Operating budgets (sales, production, direct materials, direct labor, overhead)
- Financial budgets (cash budget, budgeted income statement, budgeted balance sheet)
- Variance analysis
- Master budget components
Financial Accounting Fundamentals- Preparing financial statements (Income Statement, Balance Sheet, Statement of Cash Flows)
- Recording transactions and adjusting entries
- Understanding the accounting cycle
- Accrual vs. cash basis accounting
Managerial Accounting Concepts- Job order and process costing
- Contribution margin and break-even analysis
- Cost classification and behavior (fixed, variable, mixed costs)
- Cost-Volume-Profit (CVP) analysis

WGU Accounting for Decision Makers C213 VAC2 Sample Questions:

1. Which source of cash is the best indicator of a firm's viability as an ongoing concern?

A) Cash from operating activities
B) Cash from financing activities
C) Cash from production activities
D) Cash from investing activities


2. Which balance sheet category reflects what a company owns that can be turned into cash or used to generate cash?

A) Assets
B) Liabilities
C) Revenues
D) Owners' equity


3. How does management accounting differ from financial accounting?

A) Management accounting presents an unbiased view of a company's economic performance
B) Management accounting is used primarily for internal planning, control, and evaluation
C) Management accounting is not used to gain a competitive advantage in the marketplace
D) Management accounting is restricted to providing financial rather than nonfinancial data


4. Match each accounting term with its definition.
Answer options may be used more than once or not at all.
Select your answer from the pull-down list.


5. Which role do ethical standards have in management accounting?

A) To provide the management accountant with the ability to know whether a person will act ethically or not
B) To provide the management accountant with the ability to work with only companies that follow strict ethical principles
C) To guide the resolution to possible ethical dilemmas that the managerial accountant may encounter
D) To prevent all unethical behavior of anyone the management accountant may work with


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: B
Question # 4
Answer: Only visible for members
Question # 5
Answer: C

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