CMA USA Syllabus 2021
CMA USA Syllabus 2021
Certified Management Accountants is a global course offered by the Institute of Management Accountants. The course is highly valued by top recruiters and recognized in over 150 countries across the world.
US CMA is a stand out course because it enables students and professionals to not only equip themselves with string foundational knowledge but also be able to apply their learning in high stress situations. One of the ways the course is able to shape such skillful professionals is through its unique CMA syllabus and exam patters.
The CMA syllabus is majorly divided into 2 parts – CMA USA Part 1 and CMA USA Part 2. Students and professionals have to clear both parts to qualify as CMAs. The subjects in CMA USA part 1 focuses on building the complex knowledge about finance that will act as the foundation for subjects in CMA USA Part 2. The later part of the course refines the candidate’s skill to apply the learnt concepts to uncertain and intricate work situations for best results.
A Management Accountant is trained to work skillfully and fast for the financial benefit of the organization.
Below are the details of the CMA syllabus –
CMA USA Part 1
Financial Reporting – Financial Reporting includes financial summaries, statements, and disclosures. This section is simple if you have studied accounting and finance. Questions in this section are predominantly computational.
Planning and budgeting – Planning and budgeting is a relatively easy section for students however questions from this section can be complex and extensive. With the right training, it enables professionals to be innovative in planning and budgeting. This is also the largest section in Part1.
Performance management - This section covers concepts of performance evaluation and management, calculating the future by learning from the past and present of an employee’s performance in a company.
Cost management - This subject focuses on teaching students the concepts and calculations of cost management, to be able to make profitable business decisions.
Internal controls – This section calls for typically conceptual questions with tricky MCQs. Although the concepts are fairly easy to understand practice questions and mock tests is the best way to crack this section.
Technology and Analytics – This is the most recent addition to CMA syllabus. It aims to hone the analytical side of a student so that they are able to analyse various reports and analyse their present and future position of the company.
CMA USA Part 2
Financial statement analysis – The key difference from Financial Reporting in part 1 is that this section on student’s ability to evaluate future prospects based on the learning from Section A CMA USA part 1.
Corporate finance - This one is a mix of conceptual and calculations based questions with a mix of reasonably easy calculation based questions
Decision analysis – The core of this section is decision making based on data analysis. It is built to develop the skill to be able to apply concepts and to be strong analytical management accountants
Risk management - Risk identification and assessment is the takeaway from this section. It enables professionals to excel at risk analysis and the respond to risk efficiently. The predominant question patter from this section is conceptual.
Investment decisions – This section build skill to make good investment decision by choosing the right investments for the benefit of the organization.
Professional ethics - IMA’s Statement of Ethical Standards is focus of this section with students required to memorize the standards. It also teaches them to apply their knowledge to practical business situations.
Better understanding of the CMA syllabus will help you decide easily about pursuing the course. You can also read more about CMA USA and its syllabus here.