Join Your Exam WhatsApp group to get regular news, updates & study materials HOW TO JOIN

US CMA | CMA USA Three easy steps to get started

US CMA | CMA USA Three easy steps to get started

US CMA | CMA USA Three easy steps to get started : 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

US CMA | CMA USA Three easy steps to get started : 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.

 US CMA | CMA USA Three easy steps to get started: Description and Subjects

Founded in 1887, the AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.

The AICPA’s founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

US CMA | CMA USA Three easy steps to get started

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.

US CMA | CMA USA Three easy steps to get started

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.

US CMA | CMA USA Three easy steps to get started

US CMA | CMA USA Three easy steps to get started : The CMA (Certified Management Accountant) credential demonstrates your mastery of management accounting knowledge and skills. It assures employers of your competency on the job to improve organisational performance. Exclusively for IMA (Institute of Management Accountants) members, the CMA credential drives the career potential of candidates beyond their peers. The CMA program is designed specifically to validate mastery of the advanced skills required to manage finance functions within an organisation, enabling you to deliver value in today’s complex business environment.

Topics and Examinations

Part I: Financial  Reporting, Planning, Performance and control- External Financial Reporting Decisions (15%), Planning, Budgeting & Forecasting
(30%), Performance Management (20%), Cost Management (20%), Internal Controls (15%)
Part II: Financial Decision Making -Financial Statement Analysis (25%), Corporate Finance
(20%), Decision Analysis  (20%) Risk Management (10%), Investment Decision (15%),
Professional Ethics (10%)

Exams 4 Hour Exam (100 multiple Choice and two 30 minutes essay questions
Computerised online exam in three sessions a year –Jan/ Feb, May/ June & Sept/Oct
Pass mark is 72%. 100 MCQs and two 30 minutes essay questions.

Each exam registration is valid for only one exam window. Students to take the exams before graduating.

The demand for CMAs in India is increasing with the arrival of MNCs and flow of off-shore establishments into our country.The positions CMA is most wanted are: Financial Analyst / Internal Auditor / Senior Executive / Finance Manager / Business Analyst / Pricing Analyst / Director- Finance / Chief Financial Officer (CFO)

US CMA | CMA USA Three easy steps to get started

For More details on US CMA | CMA USA use the following Visit cakart.in downloads section

For more details on other examination go to the following www.cakart.in

Leave a comment

Your email address will not be published. Required fields are marked *