The CMA exams consists of 2 parts, testing 12 subjects and building proficiency in 12 core practice areas.
100 MCQs
Multiple Choice Questions
2 Essays
Essay Questions
4 Hours
Time
2
Testlets
Question Content Breakdown
Score Breakdown
Comprehensive Guide to the Financial Planning Analytics Section
Exam Content
Structure & Format
Study Tips
Exam Content
EXTERNAL FINANCIAL REPORTING DECISIONS – 15%
PLANNING, BUDGETING, AND FORECASTING – 20%
PERFORMANCE MANAGEMENT – 20%
Financial statements
Recognition, measurement, valuation, and disclosure
Strategic planning
Budgeting concepts
Forecasting techniques
Budget methodologies
Annual profit plan and supporting schedules
Top-level planning and analysis
Cost and variance measures
Responsibility centers and reporting segments
Performance measures
COST MANAGEMENT – 15%
INTERNAL CONTROLS – 15%
TECHNOLOGY AND ANALYTICS – 15%
Measurement concepts
Costing systems
Overhead costs
Supply chain management
Business process improvement
Governance, risk, and compliance
Systems controls and security measures
Information systems
Data governance
Technology-enabled finance transformation
Data analytics
CPA Exam FAR Section Content 2
Study Tips
Spend more time practicing questions, than reading/ learning theory.
The MCQs are generally more practical in nature, than theoretical.
It is advised to finish a chapter from the Wiley book first and then practice its questions.
Completing all MCQs from each chapter is imperative.
The OTB is to be attempted multiple times, once is not enough.
Accuracy percentage and completion percentage are the two measures of judging your preparation. (aim for 100%)
Upon your first attempt, accuracy percentage may be low, don’t be disheartened by it.
Questions are filtered in the OTB based on status. Correct, incorrect, flagged and attempted questions can be separately viewed on a chapter-wise, as well as subtopic- wise level.
Most people find out why an answer is incorrect. However always identify the cause of your correct answer, as well. Some times you may get the answer right by chance. Ensure the logic applied by you is sound. Reading the solution explanation is highly important.
Never correct your errors on the same day, this way you end up learning the questions. That is not helpful in the actual exam.
Questions answered correctly in the first attempt, generally represent concepts you are well-versed with. Incorrect questions help in identifying the areas where you need improvement. These concepts need to be revised and if needed researched on.
Some questions will seem to be out of syllabus, or alien to you, only these questions should be flagged. Do not flag questions, simply because they are incorrect, those questions are already filterable in the incorrect questions section. Flagged questions should represent concepts that are uniquely complex to you. These questions need to looked at separately and the authoritative literature for it is the answer solution, in the OTB.
Essay Questions should be attempted after you have a strong hold in the MCQ section. Essays follow these basic rules:
i. Start with an Introduction para, then the main body and finally a conclusion para.
ii. Brevity is key, overly verbose answers do not yield in extra marks. The more you write, the more likely you are to make mistakes. 500 words is the ideal size.
iii. Ensure that the terminology used you by in the essay are industry standard terms, as mentioned in the book. For questions where a mnemonic can be used, ensure you mention all the terms from the mnemonic.
After achieving a 100% completion and 100% accuracy in the OTB in all sections, you are prepared. Now is the time to give Mock Exams. Target for a 95% accuracy or above. Give at least 5 mock exams, this helps you acclimatize/adapt your body to the idea of sitting in an exam for 4 hours and helps you in managing time between the various testlets.
The CMA exams consists of 2 parts, testing 12 subjects and building proficiency in 12 core practice areas.
100 MCQs
Multiple Choice Questions
2 Essays
Essay Questions
4 Hours
Time
2
Testlets
Question Content Breakdown
Score Breakdown
Comprehensive Guide to the Strategic Financial Management Section
Exam Content
Structure & Format
Study Tips
Exam Content
FINANCIAL STATEMENT ANALYSIS – 20%
CORPORATE FINANCE – 20%
DECISION ANALYSIS – 25%
Basic financial statement analysis
Financial ratios
Profitability analysis
Special issues
Risk and return
Long-term financial management
Raising capital
Working capital management
Corporate restructuring
International finance
Cost/volume/profit analysis
Marginal analysis
Pricing
RISK MANAGEMENT – 10%
INVESTMENT DECISIONS – 10%
PROFESSIONAL ETHICS – 15%
Risk Management
Capital budgeting process
Capital investment analysis methods
Business ethics
Ethical considerations for management accounting and financial management professionals
Ethical considerations for the organization
CPA Exam FAR Section Content 2
Study Tips
Spend more time practicing questions, than reading/ learning theory.
The MCQs are generally more practical in nature, than theoretical.
It is advised to finish a chapter from the Wiley book first and then practice its questions.
Completing all MCQs from each chapter is imperative.
The OTB is to be attempted multiple times, once is not enough.
Accuracy percentage and completion percentage are the two measures of judging your preparation. (aim for 100%)
Upon your first attempt, accuracy percentage may be low, don’t be disheartened by it.
Questions are filtered in the OTB based on status. Correct, incorrect, flagged and attempted questions can be separately viewed on a chapter-wise, as well as subtopic- wise level.
Most people find out why an answer is incorrect. However always identify the cause of your correct answer, as well. Some times you may get the answer right by chance. Ensure the logic applied by you is sound. Reading the solution explanation is highly important.
Never correct your errors on the same day, this way you end up learning the questions. That is not helpful in the actual exam.
Questions answered correctly in the first attempt, generally represent concepts you are well-versed with. Incorrect questions help in identifying the areas where you need improvement. These concepts need to be revised and if needed researched on.
Some questions will seem to be out of syllabus, or alien to you, only these questions should be flagged. Do not flag questions, simply because they are incorrect, those questions are already filterable in the incorrect questions section. Flagged questions should represent concepts that are uniquely complex to you. These questions need to looked at separately and the authoritative literature for it is the answer solution, in the OTB.
Essay Questions should be attempted after you have a strong hold in the MCQ section. Essays follow these basic rules:
i. Start with an Introduction para, then the main body and finally a conclusion para.
ii. Brevity is key, overly verbose answers do not yield in extra marks. The more you write, the more likely you are to make mistakes. 500 words is the ideal size.
iii. Ensure that the terminology used you by in the essay are industry standard terms, as mentioned in the book. For questions where a mnemonic can be used, ensure you mention all the terms from the mnemonic.
After achieving a 100% completion and 100% accuracy in the OTB in all sections, you are prepared. Now is the time to give Mock Exams. Target for a 95% accuracy or above. Give at least 5 mock exams, this helps you acclimatize/adapt your body to the idea of sitting in an exam for 4 hours and helps you in managing time between the various testlets.