ExamESSENTIALS Study Guide for the CPS exam

2009 Edition

Preparation Review for Part 1

Intensive Study Guide for Part 2 & Part 3

NOW Available

Covering the latest CPS test specification.

Table of Contents

* This study guide was updated on 15 Aug, 2009. Approx page count: 317. 

BASIC BUSINESS KNOWLEDGE ON ECONOMICS & GLOBAL BUSINESS
ECONOMICS DEFINED
MICRO VS MACROECONOMICS
OPPORTUNITY COST
SPECIALIZATION, COMPARATIVE ADVANTAGE AND ABSOLUTE ADVANTAGE
PRODUCTION POSSIBILITY FRONTIER
MARKET DEFINED
DEMAND VS QUANTITY DEMANDED
SUPPLY VS QUANTITY SUPPLIED
EQUILIBRIUM VS DISEQUILIBRIUM
MOVEMENT ALONG THE CURVES VS SHIFTING OF THE CURVES VS ELASTICITY
DIFFERENT TYPES OF MARKET STRUCTURE
MONOPOLY
PERFECT COMPETITION
OLIGOPOLY AND MONOPOLISTIC COMPETITION
MARKET POWER VS PRICE TAKING
ECONOMIES OF SCALE
LAW OF DIMINISHING MARGINAL UTILITY
MONETARY POLICY VS FISCAL POLICY
ECONOMIC GROWTH, INFLATION AND CPI
BALANCE OF PAYMENTS AND BALANCE OF TRADE
MONEY SUPPLIES, EXCHANGE RATE AND CURRENCY VALUATION
M1, M2 AND M3
FOREIGN EXCHANGE
ECONOMIC INDICATORS

ACCOUNTING PRINCIPLES AND STANDARDS
IAS
GAAP, FASB AND SFAS
REPORTING CONTINGENCIES
REPORTING EARNINGS
OFF-BALANCE-SHEET ENTITIES
PURCHASE ACCOUNTING VS POOLING OF INTEREST
OPERATING CASH FLOW VS NET INCOME VS EBITDA
CASH FLOW STATEMENT
CASH FLOW ACTIVITIES
CASH FLOW FROM OPERATING ACTIVITIES
FUNDING CHOICES
DEPRECIATION
ACRS VS MACRS
FAIR VALUE VS HISTORICAL COST
INVENTORY VALUATION
CAPITALIZATION OF INTEREST COSTS
CAPITALIZATION OF LEASES
FOOTNOTES
S-CORP STATUS

MANAGING AN ORGANIZATION
MANAGEMENT PRINCIPLES
MANAGEMENT SCIENCE, DECISION MODEL, AND CONTROLS
OB MODELS AND THEORIES
ORGANIZATIONAL STRUCTURE
ORGANIZATIONAL DEVELOPMENT
GROUP MANAGEMENT
CHANGE MANAGEMENT
CHANGE STRATEGIES

US BUSINESS ENVIRONMENT AND REGULATORY REQUIREMENTS
ACTS AND REGULATIONS
UCC

MANAGING THE BUDGET
BUDGET DEVELOPMENT STRATEGY
COVERAGE
BUDGET VARIANCES
STANDARD COSTING
SLACK
COST MANAGEMENT
STANDARD COSTING
ACTIVITY-BASED COSTING
LCC
THROUGHPUT ACCOUNTING
PERFORMANCE MEASUREMENT AND ROI
PERFORMANCE MEASUREMENT AND BENCHMARKING

COMMUNICATION & INFORMATION MANAGEMENT
THE ROLE AND APPROACHES OF INFORMATION MANAGEMENT
INTEGRATING INFORMATION AND BUSINESS STRATEGIES
COMMUNICATION MANAGEMENT
VERTICAL COMMUNICATION
HORIZONTAL COMMUNICATION
DIAGONAL COMMUNICATION
CIRCULAR COMMUNICATION
COMMUNICATION BARRIERS
FORMAL NETWORK VS GRAPEVINE




 

MANAGING CUSTOMERS
MARKETING MIX
TOOLS FOR MARKET RESEARCH
SERVICE CHAIN MANAGEMENT
THE SALES PROCESS
SALES FORCE AUTOMATION

MANAGING QUALITY
AN OVERVIEW OF THE TERM “QUALITY”
QUALITY ASSURANCE, CONTROL AND MANAGEMENT
TQM
QUALITY STANDARDS
BUSINESS PROCESS REENGINEERING

MANAGING PEOPLE (LEADERSHIP & GOVERNANCE)
LEADERSHIP STYLES
KNOWING HOW TO MOTIVATE PEOPLE – THEORIES OF MOTIVATION
GOVERNANCE
LEGAL STRUCTURE OF AN ORGANIZATION
ARTICLES OF INCORPORATION
BYLAW
CHARTER
MINUTES
BOARD OF DIRECTORS
DIRECTOR APPOINTMENT AND REMOVAL
DIRECTOR DUTIES AND LIABILITIES
LIABILITY INSURANCE COVERAGE
BOARD OF ADVISORS
AGENCY THEORY
BUSINESS ETHICS
SOCIAL RESPONSIBILITY
SR TERMS
SR AS AN OBLIGATION
SR AS A LIABILITY
SR AS A STRATEGIC MOVE
SR ON A GLOBAL SCALE
SR APPROACHES

MANAGING RECORDS
OVERVIEW OF RECORDS MANAGEMENT
RECORD STORAGE
ALPHABETIC FILING
RECORD SORTING, FILE TRACKING AND FILING CUT OFF
RECORD RETENTION
FILING EQUIPMENTS
ELECTRONIC RECORD MANAGEMENT

MANAGING TIME

MANAGING KNOWLEDGE
DISTINGUISHING BETWEEN DIFFERENT KINDS OF KNOWLEDGE
KM, TEAMWORK AND TECHNOLOGIES
PROMOTING KM

MEASURING BUSINESS PERFORMANCE
FINANCIAL MEASURES
METRICS FOR OPERATION AND INVENTORY MANAGEMENT
OTHER METRICS
BENCHMARKING

MANAGING PROCUREMENT
PRINCIPLES AND STANDARDS OF PURCHASING PRACTICE
ANTI-TRUST
ORDERING PROCEDURE
PARTNERING
NEW TREND IN PURCHASING
NEW TREND IN SUPPLIER RELATIONSHIP MANAGEMENT
ACQUISITION PLANNING

MANAGING BUSINESS CONTRACT
DEFINING CONTRACT MANAGER & CONTRACT ADMINISTRATOR
CONTRACT ADMINISTRATION OVERVIEW
QUOTATIONS AND TENDERS
RFP
LOI
THE LAW OF BUSINESS CONTRACT
SOURCE OF LAW
THE STATUTE OF FRAUD
CONTRACT TYPES
OFFER, ACCEPTANCE, AND INVITATION TO TREAT
CONSIDERATION
DISCHARGING OR INVALIDATING A CONTRACT
BREACH OF CONTRACT
POSSIBLE DEFENSES
DAMAGE RECOVERY
SATISFACTION CLAUSE
AGENCY RELATIONSHIP

MANAGING THE WORKPLACE AND THE WORKFORCE
STAFFING
STRATEGIC WORKFORCE PLANNING
INTERNAL CONTROLS
BASIC CONTROL PRINCIPLES
CASH HANDLING
DISBURSEMENTS, PAYMENT AND ACQUISITION
DELEGATION VS MICROMANAGEMENT
EMPLOYMENT BRANDING
STAFFING RELATED LAWS AND REGULATIONS
WORK HOURS AND PAY
WORKPLACE PRIVACY
OTHER WORKPLACE LEGAL ISSUES
WORKPLACE STRESS
DIVERSITY MANAGEMENT
ISSUE MANAGEMENT
PREMISES MANAGEMENT
PERFORMANCE EVALUATION

MANAGING RISK
RISK MANAGEMENT
ASSESSING THREATS
BCP, DRP AND COOP

LAST MINUTE TIP

SAMPLE TEXT on the Overview of Records Management
 

Records management is all about the planning, controlling, directing, organizing, training, promoting, and other managerial activities involved with respect to records creation, maintenance, use, as well as disposition. You may also refer to it as the systematic control of records throughout their life cycle so that the right information gets to the right people at the right time for the right purposes.

NOTE: Records and Information Management Programs can be greatly enhanced and effective when top executives can demonstrate active support of its requirements.

Records may have any physical form or characteristics. Records may be on paper, microfilm, magnetic tapes, cards, disks, or any other material. They may be letters, memoranda, reports or other materials commonly found in office files. They may also be laboratory notebooks, instrument readings, photographs, sound recordings, motion pictures, maps, books, drawings, data bases or in any other form or format.

NOTE: According to ISO, records contain information that is a valuable resource and an important business asset. A systematic approach to the management of records is essential for organizations and society to protect and preserve records as evidence of actions. According to ARMA, records are initially created for the purpose of conducting business, documenting and fulfilling business obligations and facilitating decision-making processes. Businesses therefore have obligations and requirements that affect how they keep their records, independent of the need to demonstrate compliance with statutory or regulatory requirements.


The typical life cycle of a record may have the following stages:

- Creation, which is the beginning of a record's life - when a record is created, collected or received during the routine transaction of business.
- Use, which is how the record serves its function.
- Filing/Storage, which is how the record is filed after it is created.
- Disposition, which is about determining whether the record needs to be destroyed or permanently preserved.

A Records Management Program may be put in place for providing maximum economy and efficiency in the creation, organization, use, maintenance, or disposition of records to ensure records are retained as long as needed and unneeded records are not created or retained beyond their usefulness. Furthermore, a records disposition schedule may be used to specify the length of time and the manner in which records are retained or disposed.

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Sorting describes the process of arranging records in the order they will eventually be filed. The sorting process may be performed alphabetically or numerically. The level of sorting should depend on how the records need to be accessed. Horizontal and vertical sorters can expedite the process; they are devices that use partitions arranged alphabetically or numerically to sort records. After the documents are sorted, they are ready to be filed. Documents should be filed chronologically in the folder, with the latest document in the front.

NOTE: New records series may require the creation of new folder - one that would agree with the current filing system (and don't forget that the index needs to be updated to include this new folder). When refiling existing documents, the name on the caption in the filing system should be the same as the document being refiled.


When a file is retrieved, you should have a charge-out card inserted in the location where the file was removed. Automated tracking systems make use of bar code wands for expediting the check-in and check-out process for large filing systems. Tracking systems can also produce reports capable of showing what have been requested and by whom.

 

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