Updates

CMA and CIA ExamSuccess Online Now Shows All Incorrect Answer Explanations

HOCK is known for its complete and detailed study materials, and the explanations for all of the correct and incorrect answers in our question bank are equally comprehensive. Our CMA and CIA ExamSuccess Online platforms now both show the full explanations for all answer choices, not just for the correct answer and, if answered incorrectly, the chosen incorrect answer.

The update is online and available immediately for all new ExamSuccess Study, Re-Study, Review, and Exam Sessions. Sessions already completed will not have the history / results updated and will still show only the explanations for the correct and, if applicable, incorrect answer choice.

CIA Part 3 Textbook Update March 2019

The CIA Part 3 Textbook has been updated, and the new files are available for current students to download in My Studies. The significant changes are listed below including page numbers in the new book. If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CIA Textbooks and other exam prep materials if you are not already a HOCK student.

Section I

Page 74: Added discussion of big data, types of data, and the four V’s of data.

Section II

Pages 83-84: Added examples of and audit considerations for input, processing, and output controls.

Pages 89-90: Added details about privacy risks and privacy audits.

Page 93: Added a description of brute force password attacks.

Section III

Page 104: Added information about private browsing, XML, and XBRL.

Page 106: Added discussion of Software as a Service (SaaS).

Page 118: Added a definition of business continuity and elements of a business continuity plan.

Page 119: Consolidated two different lists with elements of a disaster recovery plan into a single list.

CIA Mobile App Update for the 2019 CIA Exams Now Available

HOCK is pleased to announce that the HOCK CIA App by AppiturĀ® has been updated for the 2019 CIA exams. All HOCK students who have the CIA Parts 1, 2, or 3 Review can access the updated App by logging in inside the App with their HOCK My Studies email and password.

Learn more about the HOCK CIA App and if you have any questions about the materials or the exams, please do not hesitate to contact us and we will be glad to help.

CIA Part 1 Textbook Update January 2019

The CIA Part 1 Textbook has been updated, and the new files are available for current students to download in My Studies. The significant changes are listed below including page numbers in the new book. If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CIA Textbooks and other exam prep materials if you are not already a HOCK student.

Section III

Page 31: Added lists of the knowledge and skills that an internal auditor should have.

Section V

Pages 47-50: Additional discussion about governance, the Board of Directors, and managing stakeholders with regards to governance.

Page 52: Small topic added about the governance process relationship with risk and control.

Pages 57-58: The IAA’s role as an ethics advocate and what is included in a code of conduct.

Page 60: A list of the main aspects of ISO 26000.

Page 61: Added a discussion about the Pyramid of Social Responsibility.

Pages 67-70: Detailed descriptions of risk appetite, risk tolerance, risk capacity, and the influences on a company’s risk appetite.

Page 101: New lists cover the benefits and limitations of internal controls.

Pages 105-106: Added discussion about the segregation of duties along with some examples.

Appendices

Page 152-153: Appendix D added with a sample code of conduct. Previous Appendix D is now Appendix E.

CPA FAR Textbook Update January 2019

The CPA FAR Volume 2 Textbook has been revised to reflect the latest guidance for Leases in ASC 842, which is a major revision to the accounting for leases. The new Volume 2 textbook files are available for current students to download in My Studies.

Candidates should review the new lease material in Group F on pages 54-104. If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CPA and other exam prep materials if you are not already a HOCK student.

ICMA Announces Changes for 2020 CMA Exams

The ICMA (Institute of Certified Management Accountants) has announced a few changes to the CMA exams effective with the January/February 2020 testing window.

  • CMA Part 1 has a new section on technology and analytics, and internal auditing has been removed.
  • CMA Part 2 has a new topic on social responsibility, and a few specific accounting topics have been removed.

Because these changes affect only about 10-20% of each exam, the current exams and the 2020 exams are interchangeable (there is no “transition” phase). That is to say, candidates can take one of the Parts under the 2019 syllabus and one of the Parts under the 2020 syllabus. Candidates studying now or starting to study in the next few months do not need to change their study plans.

There is a brief announcement about the change on the IMA web site here: https://www.imanet.org/cma-certification/getting-started/cma-2020-exam-changes, where you can also download the new 2020 Learning Outcome Statements.

HOCK will release updated study materials in advance of the new exams, and all HOCK customers who have purchased the CMA materials will have online access to the updated materials for the exam Part(s) they have purchased at no charge when they are released. If you have any questions or concerns about these changes, please do not hesitate to contact us and we will be glad to help.

CMA Part 2 Textbook Update October 2018

The CMA Part 2 Textbook has been updated, and the new files are available for current students to download in My Studies.

The only major change in this update is that the whole topic of Risk Management (Section D in Volume 2) has been revised to reflect the most recent COSO document, Enterprise Risk Management: Integrating with Strategy and Performance. Candidates who have already studied Section D should review the new book to familiarize themselves with the latest guidance from COSO. All of the other changes were minor clarifications and re-arranging content for better flow, and there is no need to re-study any other topics.

If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CMA Textbooks and other exam prep materials if you are not already a HOCK student.

CMA Part 1 Textbook and Questions Update July 2018 – for 2019 CMA Exams

The CMA Part 1 Textbook, Questions, and Flash Cards have been updated with all of the current accounting standards that will be tested on the CMA exams beginning in January 2019, including the new revenue recognition standard. A detailed list of changes is not available because the changes, particularly where revenue recognition is concerned, were extensive throughout all of Section A. There are no significant changes to the syllabus, accounting standards, or textbook in Sections B through E. Current students can access the updated materials in My Studies.

Updated videos for changed topics in Section A are coming soon and will be posted in My Studies as they are recorded.

Note: The newer accounting standards covered in the July 2018 update will not be tested until the January/February 2019 testing window. Candidates studying for the September/October 2018 exams should continue to use the previous version of the materials, which are all still available in My Studies through October.

You can also learn more about the HOCK CMA Textbooks and other exam prep materials if you are not already a HOCK student.

CPA Audit Textbook and Videos Update June 2018

The CPA Audit Textbook and Videos have been updated with changes related to the latest accounting standards. The significant changes are listed below and the new content is available for current students in My Studies.

Candidates should review the changed material in the updated textbook and/or videos. If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CPA and other exam prep materials if you are not already a HOCK student.

Area II

  • Expanded discussion of Audit Risk at the beginning of Area II.

Area III

  • Added new guidance for the Going Concern Assessment.

Area IV

  • Added discussion of the new PCAOB AS 3101 Standard on Audit Opinions.
  • Added discussion of the new standard on audit involvement with exempt offering documents.

CPA FAR Videos Update May 2018

The CPA FAR Videos have been updated to reflect the recent changes in the textbook related to the latest guidance for ASC 606 (Revenue Recognition). The significant changes are listed below and the new videos are available for current students to watch in My Studies.

Candidates should review the changed material in the updated videos. If you have any questions about these changes, please contact us and we will be glad to assist you.

You can also learn more about the HOCK CPA and other exam prep materials if you are not already a HOCK student.

All Changes Are In Area II

Group C: Inventory

  • Permanent Decline in Value replaced Lower of Cost or Market

Group E: Investments

  • All of the Videos in Investments have been replaced.

Group G: Payables and Accrued Liabilities

The following three videos replaced Estimated Liabilities:

  • Estimated Liabilities – Compensated Absences
  • Estimated Liabilities – Warranties
  • Estimated Liabilities – Coupons and Premiums

Group J: Revenue Recognition

  • All of the Videos in Revenue Recognition have been replaced to conform to the changes in ASC 606.