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

  • Exam Code: CPFA-001
  • Exam Name: Certified Professional Financial Accountant (CPFA)
  • Updated: Jul 22, 2026
  • Q & A: 0 Questions and Answers

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

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