US CMA | CMA USA Syllabus
US CMA | CMA USA Syllabus: 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 recognised 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).
US CMA | CMA USA registration 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 centres.
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.
US CMA | CMA USA Syllabus
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|US CMA | CMA USA Course syllabus||Course Syllabus|
|US CMA | CMA USA curriculum||Curriculum|
|US CMA | CMA USA subjects||Subjects|
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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.
Financial Decision Making
A. Financial Statement Analysis (25%) (Level C)
Calculation and interpretation of financial ratios; evaluate performance utilising multiple ratios; market value vs. book value; profitability analysis; analytical issues including impact of foreign operations, effects of changing prices and inflation, off- balance sheet financing, and earnings quality.
B. Corporate Finance (20%) (Level C)
Types of risk; including credit, foreign exchange, interest rate, market, and political risk; capital instruments for long-term financing; initial and secondary public offerings; dividend policy; cost of capital; working capital management; raising capital; managing and financing working capital; mergers and acquisitions; and international finance.
C. Decision Analysis (20%) (Level C)
Relevant data concepts; cost-volume-profit analysis; marginal analysis; make vs. buy decisions; income tax implications for operational decision analysis; pricing methodologies including market comparable, cost-based and value-based approaches.
D. Risk Management (10%) (Level C)
Types of risk including business, hazard, financial, operational, strategic, legal compliance and political risk; risk mitigation; risk management; risk analysis; and ERM.
E. Investment Decisions (15%) (Level C)
Cash flow estimates; discounted cash flow concepts; net present value; internal rate of return, discounted payback; payback; income tax implications for investment decisions; risk analysis; and real options.
F. Professional Ethics (10%) (Level C)
Ethical considerations for management accounting professionals and for the organisation. A detailed content spec is available from the ICMA or it can be downloaded from on our website.
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The CMA Entrance Fee includes:
1. Access to the CMA Support Package beginning on the date of entry into the CMA program* 2. Performance feedback reports
3. Review of educational and experience credentials
4. Final score report upon completion of the exams
5. Personalized, numbered certificate upon completion of all requirements
6. Employer notification of achievement if desired 7. Maintenance of a listing of all CMAs in good standing on the IMA website for employer verification of status
*Please note, the exam support package is not sufficient to prepare for the CMA exam and should be supplemented with a formal plan of study.
EducationQualification To become a certified CMA, candidates must satisfy one of the following education requirements and submit verification of education to ICMA.
• Bachelor’s Degree from an accredited college or university.
• A partial listing of accredited International and US institutions is available at: http://univ.cc/world.php.
• Degrees that are not accredited must be evaluated by an independent agency. A listing of these agencies can be found at www.aice-eval.org or http://www.naces.org/members.htm.
• If you cannot locate your college or university on the accredited listing, please contact us at email@example.com.
• Verification: All transcripts should be mailed directly from your college or university to the address below. If you cannot submit your transcripts, please mail us a notarised copy.
• Professional Certifications
• A listing of approved certifications can be found here. • Verification: An official letter from approved certifying organization confirming you are a qualified member should be mailed directly from the certifying organization to the address below.
US CMA | CMA USA Syllabus: FOR MORE INFORMATION PLEASE FOLLOW THE RECOMMENDED ARTICLE Curriculum
US CMA | CMA USA subjects: What we will cover under the course and other information.
- Financial Reporting, Planning, Performance, and Control.
- Financial Decision Making.
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US CMA | CMA USA Syllabus
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