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All About CMA USA Exam Including Preparation Materials

CMA USA Exam

CMA USA Exam: IMA’s CMA® (Certified Management Accountant) certification is a professional credential that can be earned in the advanced management accounting and financial management fields. The certification signifies that the person possesses knowledge in the areas of financial planning, analysis, control, decision support, and professional ethics, the skills most in demand on finance teams around the world. The CMA is a U.S.-based, globally recognized certification offered by The Institute of Management Accountants.

CMA-certified professionals work inside organisations of all sizes, industries, and types, including manufacturing and services, public and private enterprises, not-for-profit organisations, academic institutions, government entities, and multinational corporations. To date, more than 50,000 CMAs have been certified in more than 100 countries. To obtain certification, candidates must pass a rigorous exam, meet an educational requirement, experience requirement, and demonstrate a commitment to continuous learning through Continuing Professional Education (CPE).

CMA USA Exam

CMA USA Exam

CMA USA Exam And Certification Exam

The Certified Management Accountant Exam is a two part exam that must be passed as a prerequisite to earning the CMA designation. Prior to 2010, the CMA exam was organised into four parts: Business Analysis, Management Accounting and Reporting, Strategic Management. Since 2010, the exam has been condensed into two four-hour parts, covering largely the same material as the former four part exam with added emphasis on financial planning, analysis, control, and decision support. The CMA exams are given during three testing window periods: January/February, May/June and September/October at Prometric centers.

Each exam consists of descriptive questions and two 30-minute essay questions. Candidates are given 3 hours to complete the multiple choice section and one hour to complete the essays. Candidates must show their work for the essay questions in order to receive credit. Parts 1 and 2 of the CMA exam are scored on a scale of 0-500 with a candidate’s raw score converted to a uniform scaled score against all exam candidates. On this scale, a score of 360 represents the minimum passing scaled score. Candidates are given three years from registering to pass both parts of the exam.

Detailed Overview and Video Lectures on CMA USA 

CMA USA registration and Table of Content

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CMA USA registration formRegistration Form
CMA USA registration feeRegistration Fee
CMA USA registration form,fee and exam detailsRegistration Details
CMA USA part I exam registration formPart I exam registration form
CMA USA part II exam registration formPart II exam registration form
CMA USA Exam TIME TABLE
CMA USA Exam SCHEDULEEXAM SCHEDULE
CMA USA Exam format Exam Format

CMA USA Syllabus

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CMA USA Course syllabusCourse Syllabus
CMA USA curriculumCurriculum
CMA USA subjectsSubjects

CMA USA Study Materials

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CMA USA notesNotes
CMA USA preparation tipsPreparation Tips
CMA USA study material  Study Material  
CMA USA study planStudy Plan
CMA USA practice examsPractice Exams
CMA USA revision tipsRevision Tips
CMA USA question paper with solutionUS CMA | CMA USA question paper with solution and Notes

CMA USA Exam: CMA USA notes

Experience Qualification Candidates for the CMA Certification must complete two continuous years of professional experience in management accounting and/or financial management

This requirement may be completed prior to or within seven years of passing the examination. Teaching qualifies as related professional experience when it is full-time and at least 60% of the course load taught is accounting or finance above the principles level over a two-year period. Professional experience is expected to be gained in full-time employment. However, continuous part-time positions of 20 hours per week meeting the definition of qualified experience will count toward this requirement at a rate of one year of experience for every two years of part-time employment.

Qualifying experience consists of positions requiring judgments regularly made employing the principles of management accounting and financial management. Such employment includes:

• Preparation of financial statements

• Financial planning & analysis

• Monthly, quarterly, and year end close

• Auditing (external or internal)

• Budget preparation & reporting

• Manage general ledger and balance sheets

• Forecasting

• Company investment decision making

• Costing analysis

• Risk evaluation

Employment requiring the occasional application of management accounting principles such as in computer operations, sales and marketing, manufacturing, engineering, personnel, and general management will not satisfy this requirement. Internships and trainee, clerical, or nontechnical positions do not provide appropriate experience to fulfill this requirement. CMA Examination Candidates for CMA certification must complete all required examination parts.

CMA USA notes

Part 1: Financial Reporting, Planning, Performance, and Control (4 hours – 100 multiplechoice questions and two 30-minute essay questions)

Part 2: Financial Decision Making (4 hours – 100 multiple-choice questions and two 30-minute essay questions)

CMA USA notes

Each exam part will consist of 100 multiple choice questions and two 30-minute essay questions. You will have 3 hours to complete the multiple choice section and one hour to complete the essays. The essays will be presented after you have completed the multiple choice section of the exam or after 3 hours, whichever comes first. Once you complete and exit the multiple choice section of the exam, you cannot go back. You must remain in the essay section to complete the exam.

The essay section consists of 8-10 written response or calculation questions based on two scenarios, describing a typical business situation. Note: You must answer at least 50% of the multiple-choice questions correctly to be eligible to take the essay section. You will not receive immediate pass/fail results because the essay questions will be graded offline.

This is a time consuming and labor intensive process. In order to assure consistency, accuracy, and fairness all papers are graded at the same time. Sample grading is performed first to ensure all alternative solutions have been accounted for. Reviewers check the grading throughout the grading process. Once grading is completed there is an additional review of papers on the borderline of passing.

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CMA USA Exam: CMA USA preparation tips

Financial Reporting, Planning, Performance, and Control

A.External Financial Reporting Decisions (15%) (Level C)

Preparation of financial statements: balance sheet, income statement, statement of changes in equity, statement of cash flows; valuation of assets and liabilities; operating and capital leases; impact of equity transactions; revenue recognition; income measurement; major differences between U.S. GAAP and IFRS.

B. Planning, Budgeting and Forecasting (30%) (Level C)

Strategic planning process; budgeting concepts; annual profit plans and supporting schedules; types of budgets, including activity-based budgeting, project budgeting, flexible budgeting; top level planning and analysis; and forecasting, including quantitative methods such as regression and learning curve analysis.

C. Performance Management (20%) (Level C)

Factors to be analysed for control and performance evaluation including revenues, costs, profits, and investment in assets; variance analysis based on flexible budgets and standard costs; responsibility accounting for revenue, cost, contribution and profit centres; key performance indicators; and balanced scorecard.

D. Cost Management (20%) (Level C)

Cost concepts, flows and terminology; alternative cost objectives; cost measurement concepts; cost accumulation systems including job order costing, process costing, and activity-based costing; overhead cost allocation; supply chain management and business process performance topics such as lean manufacturing, ERP, theory of constraints, value chain analysis, ABM, continuous improvement and efficient accounting processes.

E. Internal Controls (15%) (Level C)

Corporate governance; internal control risk; internal control environment, procedures, and standards; responsibility and authority for internal auditing; types of audits; assessing the adequacy of the accounting information system controls; and business continuity planning.

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CMA USA Exam: CMA USA study material  

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CMA USA study plan and Study Material: This study planner is essentially an excel spreadsheet that helps you to:

  • Identify the number of study hours you have each week
  • Take into account the vacation days in between
  • Calculate the time required to go through all exam materials based on the number of hours you have
  • Specify the start and ending dates of each study unit so you can closely monitor your progress in the calendar

CMA USA study plan and Study Material: The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organisations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers speciality credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

CMA USA Exam: CMA USA study plan

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CMA USA Exam: CMA USA practice exams

FOR PRACTICE EXAMS PLEASE CLICK BELOW OT CLICK ON THE LINK IN TABLE OF CONTENT.

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CMA USA Exam: CMA USA revision tips

CMA USA revision tips: This study planner is essentially an excel spreadsheet that helps you to:

  • Identify the number of study hours you have each week
  • Take into account the vacation days in between
  • Calculate the time required to go through all exam materials based on the number of hours you have
  • Specify the start and ending dates of each study unit so you can closely monitor your progress in the calendar

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CMA USA Exam: CMA USA question paper with solution

CMA USA Exam question paper with solution: You are given 4 hours to finish the whole CMA exam. In the event that you are finished with the MC inquiries in under 3 hours, then you can have the rest of an opportunity to chip away at the article. On the off chance that you go through the 3 entire hours on the MC addresses however, you will have stop and proceed onward to paper questions.

For hopefuls whose English is not the main dialect, I unequivocally energise that you work on experiencing MC inquiries as fast as you can so you can save more opportunity for the written work part.

If it’s not too much trouble take note of that you will be made a request to finish the CMA exam paper addresses just in the event that you get no less than half right in various decision questions.

CMA USA Exam Essay Format

There are two articles themes, each with various inquiries. You might be made a request to finish a business composing or to take a shot at a quantitative examination.

The written work is done on a straightforward word processor that is like Notepad. For those expositions that require a computational answer, you ought to make basic tables and show figurings inside the word processor space gave. It is a smart thought to get acclimate with the testing condition before the exam day.

Note: If you are a retaker, you might need to realize that the CMA exam has suspended the utilization of the spreadsheet instrument in the exposition segment of the exam since January 2013.

CMA USA Exam Essay Grading System

The expositions are reviewed via prepared topic specialists utilizing an affirmed scoring rubric guarantee objectivity and consistency. This piece of the exam is intended to test your:

Information of the exam content

Capacity to apply ideas in genuine business circumstances

Capacity to express plainly and coherently in business composing

You can likewise investigate Dr Gleim’s clarification on the reviewing framework.

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CMA USA Exam

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