What are the subjects of US CMA Exam?

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C M A USA

What are the subjects of US CMA Exam?

NOVE M BER 25, 2021

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The US CMA course is gaining popularity, especially among those who want to start their careers in management accounting and Finance. For this reason, the CMA course is designed to evaluate critical accounting and nancial management skills relevant to success in a business environment. Therefore, choosing a CMA as a career option is a great idea.

If you are curious about the US CMA course details, Simandhar Education is here to help you provide more information on the course.

Certi ed Management Accountant, also known as CMA is the highest standard professional certi cation that one can earn in advanced management accounting and Finance. The US CMA is a globally recognized certi cation offered by the Institute of Management Accountants (IMA), the largest and most respected association for management accounting and nance professionals.

Scope of US CMA The role of a certi ed management accountant is to provide services related to nance and accounting, including preparing nancial statements, preparing tax returns, and providing business analysis. They also offer consulting services on all aspects of the business.

A CMA USA has undergone extensive education in accounting, auditing, nancial reporting, and taxation. In addition, they are trained to understand the use of nancial information in decision-making processes. This is one of the most signi cant roles that allow them to provide valuable advice about how an organization can make decisions based on its nances.

CMA professionals work with manufacturing and services, public and private enterprises, not-for-pro t organizations, academic institutions, government entities, and multinational corporations.

CMAs may hold top management positions in public and private sectors in their specialized knowledge and training. Below are some reputed job positions after obtaining CMA USA certi cation.

• Staff Accountant: Responsible for reconciling bank transactions, preparing nancial reports for management inspection, and handling the payrolls.

• Budget analysts: Responsible for monitoring and analyzing their organization’s nancial condition.

• Finance Manager: Managing the income and expenditure of other people or organizations.

• Financial Analysts: Evaluate the nancial statements of operations, assets, operations, and liabilities of a company.

• Internal auditor: Conducts audits of an organization’s nancial records and processes to ensure the accuracy of its information and compliance with relevant laws.

• Chief Executive Of cer: Making the major corporate decisions, managing any organization’s overall operations and resources.

• Cost Accountant: Planning the company’s budget, setting standard costs, and suggesting cost-saving opportunities.

• Chief Financial Of cer: Manage the company’s nances, including nancial planning, managing nancial risks, record-keeping, and nancial reporting.

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You might be still wondering, “why should I become a US CMA?”. Simandhar Education, the leading training institute of CMA course in India, here outlines the reasons for how getting CMA certi cation will advance your accounting career.

• Open doors into the business world • Global opportunities • Growth in terms of earning • Multiple career opportunities • Value as an employee However, to become CMA and obtain CMA certi cation, candidates must become a member of the Institute of Management Accountants (IMA), meet CMA eligibility criteria (educational and experience requirement), and pass part 1 and part 2 CMA exams.

As passing the Certi ed Management Accountant Exam is the rst to achieve the bene ts of becoming CMA, let’s focus more on the US CMA Examination.

CMA Exam Details The CMA USA Certi cation comprises a single-level computer-based examination divided into parts (Part 1 and Part 2). CMA candidates can attempt any part of the CMA examination in any order as per their convenience.

The Institute of Management Accountants (IMA) provides a six-month testing frame divided into three testing windows: January- February, May-June, and SeptemberOctober. IMA also allows the exibility in scheduling the US CMA exam as per the candidate’s convenience within the mentioned testing windows.

The duration of the US CMA exam is 4 Hours for CMA Exam Part 1 & Part 2(three hours for 100 multiple choice questions and one hour for essay questions). The essay section of the CMA exam includes 10-12 written response or calculation questions

based on typical business scenarios.

Prometric administers CMA Exams with centers across the globe, and candidates are required to schedule their exams at least 72 hours prior. It is recommended to schedule the exam at best four weeks ahead.

CMA Exam Scoring To pass the Certi ed Management Accountant Exam, candidates must score at least a 360 out of 500. All scores on the CMA Exam parts are expressed as scaled scores to maintain consistency across candidates.

If candidates fail the US CMA Examination, Prometric will send a performance report email detailing their performance in each key topic area. This report is emailed around two weeks after they receive the exam results. This is a great way to assess the most challenging areas and prepare more effectively for their next attempt.

However, CMA candidates cannot take any part of the exam more than once during a testing window, so they will have at least one full month to plan a CMA Exam study strategy.

CMA candidates are also eligible for exam awards based on Parts 1 and Part 2. To qualify for this award, they must pass the two parts of the CMA exam on the rst attempt within one two-month testing window.

Subjects of US CMA Exam The two different subjects which are considered as parts of the CMA Exam are:

• CMA – Part 1: Financial Reporting, Planning, Performance, and Analytics • CMA – Part 2: Strategic Financial Management CMA Part 1 and Part 2’s primary objective is to measure a candidate’s knowledge and pro ciency in management accounting.

pro ciency in management accounting.

Now, let’s see the subjects covered and what CMAs are expected to perform from training in Part 1 and Part 2 US CMA Exam in detail.

Part 1 CMA: Financial Reporting, Planning, Performance and Analytics • External Financial Reporting Decisions (15%) External nancial reporting decisions are increasingly becoming a more critical role for accounting rms and auditors. The ndings often require substantial judgment and expertise in accounting, nance, and business, so companies often consider Certi ed Management Accountants.

• Planning, Budgeting, And Forecasting (20%) Planning, Budgeting, and Forecasting (PB&F) is a managerial process that involves forecasting an organization’s future performance and budget. It is the process of developing a plan for the whole year or what may happen during a speci c period.

• Performance Management (20%) Performance management has become more critical in the last few years as organizations are trying to maintain competitive performance levels. Companies can achieve it by tracking metrics, goals, and tasks.

• Cost Management (15%) It is necessary for managing the costs of various tasks in the business, such as procurement, manufacturing, distribution, and marketing. Proper cost management can help ensure that a company can maintain its operations with minimal impact on its overall pro tability.

• Internal Controls (15%)

Internal controls help ensure that the company is not at risk of any nancial fraud and let the executives and nance team members know about any unusual transactions. This information can be used by management to decide how they want their company to be run.

• Technology & Analysis (15%) When organizations take the nancial report from the past and merge it with the risk, analytics come into action. Therefore, every enterprise looks for an Accountant whose analytical skills could support the prediction.

Part 2 CMA: Strategic Financial Management • Financial Statement Analysis (20%) Financial statement analysis is a way of analyzing the nancial information that companies provide. The vital information of the nancial statement includes revenue, expenses, assets, liabilities, equity, and cash ow.

• Corporate Finance (20%) Corporate Finance includes the process of issuing stocks, bonds, or other securities to raise capital. It also has corporate governance issues, including nancial reporting, corporate accounting, and auditing standards.

• Decision Analysis (25%) Companies are increasingly using decision analysis when they face complex decisions that have many possible outcomes. It is a way to evaluate the possible outcomes of a situation to determine which action will bring the best results.

• Risk Management (10%) Risk management is an essential component of the decision analysis of any

organization. It helps the decision-maker expert in Finance to decide whether the cost of taking a risk outweighs its potential bene t or not.

• Investment Decisions (10%) Investment decisions will explore the critical factors that in uence the decisions made by organizations, including risk, cost, and potential returns. This analysis by CMA helps companies make better decisions by focusing on past data and future projections of their investments.

• Professional Ethics (15%) This section covers the Institute of Management Accountants (IMA’s) Statement of Ethical Standards, easy to understand. However, CMAs are required to memorize the standards and learn to apply them to practical business situations.

It is important to note that passing all the subjects of the US CMA exam is mandatory to obtain CMA certi cation and earn the potential bene ts of a CMA course. But, how to pass the CMA Exam on the rst try? Simandhar Education’s US CMA course training is a hands-on experiential program that helps you clear the exam on the rst attempt and provide placement support.

Our live interactive classes for CMA courses are well designed for students, employees, and nancial professionals.

Need more information on the US CMA course? Visit our website https://simandhareducation.com/ and if you have any queries, please contact on info@simdhareducation.com

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Simandhar Education Simandhar is the o몭cial partner of Becker and AICPA - Largest Training provider for US CPA, US CMA , IFRS and EA courses in India. Learn how to clear your CPA exams with

CPA, US CMA , IFRS and EA courses in India. Learn how to clear your CPA exams with extremely satisfying results by getting proper guidance and knowledge through our online courses and video tutorials taught by industry Experts. We’re here to provide you with all the help that you need in order to ace your CPA, CMA exams. We are just a call away for any assistance. Simandhar Education is the leading training provider for the CPA Exam in India.

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