A Detailed Handbook on US CMA Course Syllabus FY 2024 – By Uplift Professionals

What is US CMA course ?

US Certified Management Accountant (CMA) or US CMA course is a professional certification credential in the 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 CMA is a US based, globally recognized certification offered by the Institute of Management Accountants (IMA US). IMA US has a legacy of more than 100 years and as of date the membership of US CMA certified candidates is more than 1,40,000 across 150+ countries.

Bachelor degree on any subject. Students who are pursuing their bachelors are eligible to take the US CMA exams. Two years of professional experience in accounting or finance. For Freshers the experience requirement may be completed within 7 years of passing the examination.

A single level of examination which is divided into two parts. Candidates can attempt any part in any order as per their convenience. Each exam part is four hours in length . US CMA exam will have 100 multiple choice questions, followed by two 30-minute essay questions. Exam is conducted at Prometric testing.?The exam is conducted in the following windows

a. January – February

b. May – June

c. September – October

The most vital part of the US CMA scholastic program for an aspirant is to know the US CMA syllabus first. A detailed idea about the US CMA syllabus is of utmost important to take informed decisions prior initiation of the journey towards the goal of achieving the coveted US CMA credential. A thorough idea of the CMA subjects for exam will also help to build confidence-a necessary step to crack the CMA US exam.

US CMA Syllabus

Let’s have an in depth look on the course details of the current US CMA syllabus:

The US CMA course involve a 2 part online exam based on the following sections:

CMA US Exam Part 1: Financial Planning, Performance, and Analytics

Sec A: External Financial Reporting Decisions (15%)

• Financial Statements: Types, purpose, and use.
• Recognition, Measurement, Valuation, and Disclosure: Concepts like revenue recognition, leases, and income taxes.
• Financial Statement Analysis: Comparative analysis, common-size analysis, and financial ratios.

Sec B: Planning, Budgeting, and Forecasting (20%)

• Strategic Planning: SWOT analysis, mission, vision, goals.
• Budgeting Concepts: Master budget, operating, and financial budgets.
• Forecasting Techniques: Time series, regression, and trend analysis.
• Budget Methodologies: Activity-based budgeting, zero-based budgeting.
• Annual Profit Plan & Supporting Schedules.
• Top-level Planning and Analysis: Pro forma statements, what-if analysis.

Sec C: Performance Management (20%)

• Cost and Variance Measures: Standard costing, variances for materials, labor, and overhead.
• Responsibility Centers and Reporting Segments: Cost centers, profit centers, and investment centers.
• Performance Measures: Financial performance and non-financial performance measures (balanced scorecard).

Sec D: Cost Management (15%)

• Measurement Concepts: Cost behavior, direct vs. indirect costs, and fixed vs. variable costs.
• Costing Systems: Job-order costing, process costing, activity-based costing (ABC).
• Overhead Costs: Overhead allocation, absorption costing, and variable costing.
• Supply Chain Management.
• Business Process Improvement: Lean manufacturing, Six Sigma, and just-in-time (JIT).

Sec E: Internal Controls (15%)

• Governance, Risk, and Compliance: Principles of corporate governance.
• Internal Control Structure and Management: COSO framework, segregation of duties.
• Systems Controls and Security Measures: Information security, internal control testing.

Sec F: Technology and Analytics (15%)

• Information Systems: Enterprise resource planning (ERP) systems.
• Data Governance: Data management, integrity, and protection.
• Technology-enabled Finance Transformation: Cloud computing, robotic process automation (RPA).
• Data Analytics: Big data, data visualization, and predictive analytics.

CMA US Exam Part 2: Strategic Financial Management

Sec A: Financial Statement Analysis (20%)

• Basic Financial Statement Analysis: Ratio analysis (liquidity, profitability, solvency).
• Profitability Analysis and Special Issues: Revenue and expense recognition, off-balance-sheet financing.
• Impact of International Operations on Financial Statements.

Sec B: Corporate Finance (20%)

• Risk and Return: Portfolio management, beta, and the CAPM model.
• Long-term Financial Management: Bonds, debentures, preferred and common stock.
• Raising Capital: IPOs, debt financing, equity financing.
• Working Capital Management: Cash, accounts receivable, and inventory management.
• Corporate Restructuring: Mergers and acquisitions (M&A), divestitures.

Sec C: Decision Analysis (25%)

• Cost/Volume/Profit Analysis (CVP): Breakeven analysis, margin of safety.
• Marginal Analysis: Make or buy, special order, and product mix decisions.
• Pricing Decisions: Transfer pricing, market-based pricing, cost-plus pricing.

Sec D: Risk Management (10%)

• Enterprise Risk Management (ERM): Risk identification, assessment, and response strategies.
• Risk Mitigation Strategies: Hedging, insurance, diversification.

Sec E: Investment Decisions (10%)

• Capital Budgeting: Net present value (NPV), internal rate of return (IRR), payback period.
• Discounted Cash Flow (DCF) Analysis.
• Valuation Methods: Market comparables, precedent transactions, intrinsic valuation.

Sec F: Professional Ethics (15%)

• Ethical Considerations for Management Accountants.
• IMA’s Statement of Ethical Professional Practice: Integrity, credibility, confidentiality, and competence.
• Fraud Triangle: Pressure, opportunity, rationalization...

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