Certified Management Accountant (CMA) Course Details
Certified Management Accountant (CMA) – Part 1: Financial Reporting, Planning, Performance, and Control
External Financial Reporting Decisions
This portion of syllabus is mainly concered about 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.
- External Financial Reporting Decisions 15%
Planning, Budgeting and Forecasting
Strategic planning process; budgeting concepts; annual profit plans and supporting schedules;
types of budgets, including activity-based budgeting, project budgeting, flexible budgeting; toplevel
planning and analysis; and forecasting, including quantitative methods such as regression
and learning curve analysis.
- Planning, Budgeting and Forecasting 30%
Factors to be analyzed 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 centers; key
performance indicators; and balanced scorecard.
- Performance Management 20%
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.
- Cost Management 20%
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.
- Internal Controls 15%
Certified Management Accountant (CMA) – Part 2: Financial Decesion Making
Financial Statement Analysis
Calculation and interpretation of financial ratios; evaluate performance utilizing 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
- Financial Statement Analysis 25%
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.
- Corporate Finance 20%
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.
- Decision Analysis 20%
Types of risk including business, hazard, financial, operational, strategic, legal compliance and
political risk; risk mitigation; risk management; risk analysis; and ERM.
- Risk Management 10%
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
- Investment Decisions 15%
Ethical considerations for management accounting professionals and for the organization.
- Professional Ethics 10%