The document outlines the key areas covered in the CPA licensure examination for management advisory services. It discusses management accounting-related services, financial management services, capital budgeting concepts and techniques, project feasibility studies, and management consulting services. The areas of management accounting include costing techniques, budgeting, responsibility accounting, transfer pricing, and performance evaluation. Capital budgeting concepts include NPV, IRR, payback period, and risk analysis methods. Management consulting services involve problem identification and definition, data collection, analysis of alternatives, and presentation of recommendations.