A Comprehensive Guide To Us Cma Syllabus

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US CMA Syllabus

The Institute of Management Accountants (IMA) USA offers the CMA USA, an advanced professional program in finance. 

There is a total of two exams: 

The title of the paper 
Part 1: Financial reporting, planning, performance, and control are all aspects of financial management. 
Part 2: Making Financial Decisions 
The time allotted for the exam is four hours. There are two. 
Exam window: 100 multiple-choice questions in three hours, plus two essay questions in one hour 
Achieving a passing grade of 360 out of 500 points (each paper) 
Exam months are January/February, May/June, September/October, and November/December. 
Preparation time is expected to be 200 hours. 
The exam is expected to take nine months to complete. 
Percentage of those that pass: 35% 
Part 1 and 2 of the US CMA Exam Syllabus 2021 are divided into two sections. The marks weightage assigned by IMA is shown as a percentage alongside the topic. Under each case, an estimate of study time is also offered.  

 USA ...
... CMA course schedule outline-
Part I: Financial planning, performance, and analyticsare covered in this course. 
 Financial Reporting Decisions Made by Others (15 % )
Budgeting, planning, and forecasting (20% )
Managing Performance (20% )
Management of Costs (15% )
Internal Controls (15% )
Analytics and technology (15% )       
Sl No Topic Marks Weightage Est Preparation Time Est Video Course Duration
1 External Financial Reporting Decisions 15% 40 hrs 25 hrs
2 Planning, Budgeting and Forecasting 20% 24 hrs 18 hrs
3 Performance Management 20% 16 hrs 11 hrs
4 Cost Management 15% 24 hrs 18 hrs
5 Internal Controls 15% 12 hrs 8 hrs
6 Technology and Analytics 15% 12 hrs 8 hrs
                                                    

Part II: Strategic Financial Management
Examine the financial statements (20% )
Business Finance (20% )
Make a decision (25% )
Risk Assessment and Management (10% )
Investment Choices (10% )
Professional Code of Conduct (15% )
Sl No Topic Marks Weightage Est Preparation Time Est Video Course Duration
1 Financial Statement Analysis 20% 16 hrs 11 hrs
2 Corporate Finance 20% 30 hrs 22 hrs
3 Decision Analysis 25% 15 hrs 10 hrs
4 Risk Management 10% 5 hrs 3 hrs
5 Investment Decisions 10% 9 hrs 6 hrs
6 Professional Ethics 15% 7 hrs 5 hrs
Total 100% 82 hrs 57 hrs

USA CMA Part 1 2021 timetable in detail–
Financial Reporting Decisions Made by Others 

Balance sheet 
Financial statements 
Profit and loss statement 
Changes in equity statement 
Cash flow statement 
Reporting that is integrated 
Identifying, measuring, valuing, and disclosing 

Valuation of assets 
Liabilities valuation 
Equity exchanges 
Recognized revenue 
Calculation of earnings 
The distinctions between US GAAP and International Financial Reporting Standards (IFRS)  
After you’ve gone through the financial statements and cash flows, it’s time to move on to the next. A candidate should recognize the financial statements’ requirements, their primary components and categories, their benefits and drawbacks, and their consequences. One can also show that they understand the needs of each statement, the relationship between them, and how to prepare the reports. 

After you’ve gone over recognition, measurement, value, and disclosure, it’s time to move on to the next step. A candidate should distinguish between financial and operating leases, recognize capital transactions, and understand the variations between GAAP and IFRS, among other things. This is a simple portion, and most problems should be computational.

  Budgeting, Planning, and Forecasting 

Strategic planning

Long-term mission and goals 
Tactics that are in line with long-term strategic objectives 
Analytical techniques and models for strategic planning 
The following are aspects of an effective strategic planning process: 
Budgeting ideas 

Objectives for operations and performance 
Features of a practical budgeting approach 
Allocation of resources 
Additional budgeting ideas 
Forecasting methods 

Analysis of Regression 
Examining the learning curve 
Estimated worth

Methodologies for budgeting
Business plans for the year (master budgets) 
Budgeting for projects 
Budgeting based on activities 
Budgeting on a zero-based basis 
Budgets that are updated regularly (rolling budgets) 
adaptable Budgeting 
Profit plan for the year and supporting schedules 

Budgets for operations 
Budgets for money 
Capital expenditure budgets 
Strategic planning and analysis at the highest levels 

Earnings projections 
Projection of financial statements 
Cash flow forecasts 
This section is divided into two parts: budgeting and financial planning. A candidate must compute several items such as the cost of goods sold, goods manufactured, and other items in this section. There are also a few conceptual issues to consider. This section goes into greater detail than the one before it. Although the ideas are simple, some questions can be lengthy.

Management of Performance

Cost and variance measures 

Actual and projected results comparison 
Analyzing performance with variable budgets 
Exceptional management 
Standard costing systems are used 
Examining differences between actual cost estimates Reporting segments and responsibility centers 
Different kinds of responsibility centers 
Charges for transfers 
Organizational segment reporting Metrics of success 
Profitability study of a product 
Profitability study of business units 
Profitability study of customers 
Investment return 
Earnings on a long-term basis 
Problems with the investment base 
Indicators of performance (KPIs) Key Performers indicators. 
Balanced scorecard 
Applicants are evaluated based on how performance is measured in a business. The great majority of evaluation tools should be familiar to those who work in a company’s accounting department. A few components, such as legal expenses, are more commonly used in manufacturing enterprises than in service-oriented businesses. 

Expense Control

Concepts of measurement 

Costbehaviorand cost objects 
Actual and expected costs 
Costs are standard 
Full costing (absorption) 
Direct (variable) costs 
Costing of joint and by-products Costing methods 
Estimation of job costs 
Costing of the process 
Costing is dependent on activity 
Costing throughout a person’s life Overhead expenses 
Overhead expenses, both fixed and variable 
Overhead at the plant level vs. departmental overhead 
Establishing the allocation base 
Cost allocation for the service department Managing the supply chain 
Techniques for resource management that are lean 
Organizational resource planning (ERP) 
Constraints Theory 
Analysis and management of capacity Enhancement of business processes 
Analyze the value chain 
Concepts with added value 
Analyzing, redesigning, and standardizing processes 
Management based on activity 
Concepts of continuous improvement 
Analysis of best practices 
The price of a quality analysis 
Processes for accounting that are efficient 
Candidates must perform a comprehensive series of computations in this portion, which incorporates multiple costing approaches. 

Internal Controls 

Risk, compliance, and governance 

Management philosophy and internal control structure 
Policies for safeguarding and ensuring information. 
Risk of internal control 
Corporate management 
Mandatory external auditsControls and security measures for the system 
Accounting system controls in general 
Transaction and application controls 
Network management 
Controls for backups 
Continuity of operations planning 
Internal control questions are nearly all applied in this field, and it’s not difficult to spot them. They can, however, be ambiguous. Picking as good as possible is difficult when a few appropriate responses appear to be partially correct. Don’t get frustrated if you finish this section quickly yet perform poorly on the training questions. 

Analytics and Technology 

Information systems are divided into two categories:  

(1) information systems and  

(2) accounting information systems. 

Enterprise resource planning (ERP) applications 
Performance management methods for businesses Data management 
Policies and procedures for handling data 
The data life cycle 
Anti-breach security measures Financial transformation aided by technology 
The life cycle of system development 
Automation of processes 
Cutting-edge applications Information analysis 
Intelligence for business 
Exploration of data 
Tools for analyzing data 
Visualization of data 
With the growing popularity of data analytics, the IMA has updated the syllabus to make it more current. Data Analytics gives finance professionals a glimpse into the field’s potential opportunities. 

Part 1 of the US CMA exam has a pass rate of 40%. A minimum passing score of 360 out of 500 is required. 

USA CMA Part 2 2021 schedule in detail-

Review of Financial Statements 

Financial statement analysis in its most basic form  

Financial statements of standard size 
Statements of financial position for the same budgetary year financial ratios 
Liquidity 
Leverage 
Activity 
Profitability 
Market Analysis of Profitability 
An examination of revenue measurement 
Revenue forecasting 
Sales cost analysis 
Cost-benefit analysis 
Analysis of variation Special topics 
Foreign operations’ impact 
The impact of fluctuating prices and inflation 
Changes in accounting treatment have an impact. 
Accounting and economic principles of value and income 
High-quality earnings 
This section is quite similar to Part 1’s Section A, which looks into financial accounting. On the other hand, the point of convergence relies on analysis and comparison with the use of essential financial data and ratios. 

Financial Management of Corporations 
Risk and Return  

Return Calculation 
Different types of risk the link between risk and reward Financial planning for the long term 
Interest rate structure over time 
Different kinds of financial instruments 
Capital costs 
Financial instrument valuation Capital raising 
Regulation and financial markets 
Effectiveness of the market 
Financial establishments 
Initial public offers (IPOs) and secondary public offerings (IPOs) 
Share repurchases and dividend policy 
Leasing options Management of working capital 
Terminology for working capital 
Managing cash flow 
Managing marketable securities 
Management of accounts receivable 
Inventory control 
Different kinds of short-term credit 
Managing short-term credit Business reorganization 
Acquisitions and mergers 
Restructuring in other ways International financial services 
Exchange rates that are fixed, variable, and floating 
Dealing with transaction risk 
International trade financing 
To succeed in this area, you must understand short- and long-term financial management and the benefits and drawbacks of main financial instruments. There will be a mix of conceptual and computational problems on the exam. The number of questions can be costly, but the computations are most likely relatively simple. 

Analysis of Options.

Breakeven analysis 
Cost/volume/profit analysis 
Profitability and different operation levels 
Multiple product analysis Analysis of the margins 
Sunk costs and opportunity costs 
Marginal revenue and marginal costs 
Pricing and special orders 
Buy vs. make 
Proceed with the sale or processing 
Replace a segment with a new one. 
Factors affecting capacity Pricing 
Pricing techniques 
Costing with a goal 
Demand elasticity 
Considerations for the product’s life cycle 
Considerations on market structure 
This section will put you to the test on how management accountants provide information and analyze the decision-making process. 

Risk Management 

Enterprise Risk

Risk Types 
Identifying and assessing risks 
risk-reduction tactics Risk management 
To achieve its goal, organizational managers must recognize, survey, and respond to risks collectively. It is mainly concerned with the ERM model. You’re on your way to answering theoretical questions in this field. 

Decisions Regarding Investments 

Capital budgeting procedure 

Capital budgeting stages 
Cash Flows in Steps 
Income-tax implications 
Assessing the level of uncertainty Methods of capital investment analysis • Present value (NPV) 
• Return on investment (ROI) 

• Payback 

• Methods of investment analysis comparison 

This section discusses how management accountants assist in making critical decisions such as whether to continue speculating or choose amongst venture options. 

Professional Ethics  

Business Ethics.

Moral theories and values in business 
Making ethical decisions Financial professionals’ ethical considerations 
IMA’s Ethical Professional Practice Statement 
The triangle of deception 
Ethical issues are assessed and resolved. Organizational ethical considerations 
Ethical culture and organizational factors 
The IMA’s declaration “Values and Ethics: From Inception to Practice.” 
Moral Leadership 
Legal observance 
Accountability for ethical behavior 
Social responsibility and sustainability 
The IMA Statement of Ethical Standards determines this section’s content. The criteria and gauges are brief and easy, so applicants should remember the titles of the four standards and, more importantly, how they are applied in real-world situations. 

The pass rate for section 2 of the US CMA is 50%. The base passing score is 360 out of 500. 

CMA Exam is a prestigious exam that is difficult to pass, but it will be advantageous if done so.  

What do CMAs do? 
Professionals with the CMA certificate can pursue a range of operations and decision-making-related careers. Job opportunities and CMA salaries differ depending on a candidate’s years of experience and work background. 

 Financial Analyst  

Financial Analysts are a lower-level role for CMAs that monitor financial statements, write reports, analyze results, and make recommendations to increase corporate productivity. The CMA certification provides Financial Analysts with the confidence and expertise to complete the entire cycle, from financial report creation to making recommendations based on the gathered data.  

Accountant (Cost) 

Cost Accountants, as the name implies, gather, analyze, and report information on a company’s costs to identify inefficiencies that can be eliminated to save money. Cost accountants will develop the ability to do successful cost accounting and convey strategic plans to high-level executives for implementation during the CMA credentialing process. Average Wage: Cost Accountants earn an average annual pay of $62,207. 

Manager of Financial Risk 

Financial Risk Managers foresee future changes that could affect the company’s finances and make strategic plans based on their projections after obtaining the essential analytical and decision-making abilities through the CMA credential and relevant work experience. This position necessitates a strong foundation of analytical skills and mathematical proficiency. Financial Risk Managers earn an average salary of $99,949 per year. 

Controller of finances 

As one of the executives of the finance department, financial controllers work directly with Chief Financial Officers. This job mainly entails supervising other accountants and accounting managers, including transforming data into financial reports and developing a financial strategy. Because Financial Controllers are required to make strategic suggestions and oversee other accounting professionals, a CMA certificate is highly recommended for this position. Average Wage: Financial controllers earn an average annual pay of $108,651. 

Managing Director of Finance 

As the finance arm of the C-suite and typically reporting directly to the Chief Executive Officer(CEO), the Chief Financial Officer is in charge of a company’s financial choices. Financial reporting, financial forecasting, and company investments are all responsibilities of CFOs. This position’s leadership, communication, and analytical skills are part of the CMA credentialing process. A CMA or MBA is frequently required to achieve positions at this management level. 

Five Reasons to Become a CMA-
We’ll look at five reasons to become a CMA for the time being. To see the benefits of the CMA certification, it’s vital to understand why other individuals receive it. When selecting a selection for yourself, though, you must consider your career path and what would assist you in getting there. 

The Certified Management Accountant (CMA) is the gold standard in management accounting. Your aunts and neighbours may not know what a CMA is, but it is a well-respected title in the corporate accounting world. It is regarded as the “gold standard,” indicating one of the most prestigious management accounting certificates available. It is also the world’s fastest-growing credential. Holding the top position in their area is a huge motivator for many people. 

It is arguably the most internationally recognized management accounting certification.
The CMA is a high-level professional certification that assesses critical accounting and financial management abilities. This is especially significant in an expert setting. You will be a top contender for job openings when you have this distinction. 

The CIMA is the largest organization in this field, however. On the other hand, the CMA is growing faster than the CIMA worldwide. 

CMAs are compensated more. 

Let’s face it: we want to learn, but we also want to attain better-paying jobs. Thus, we need the certification. According to a comprehensive survey, CMA certification holders earn 67 percent more than non-certified colleagues. 

More is always a good thing, but how much more are we talking about? The global mean and median base CMA certification income can fluctuate from year to year, so keep track of the numbers. The figures, however, remain strong and appealing to potential Certified Management Accountants, suggesting that earning your CMA is still a good idea. 

As per the IMA, the worldwide mean base CMA pay in 2018 was $74,344, with a $66,000 worldwide middle base CMA pay. This will often rise year after year, so we should expect continuous gains in the years ahead. 

CMA skills are more practical for many 

According to various industry magazines, 80 percent of accountants end up in non-public accounting, and these professionals might benefit more from management accounting knowledge and skills. Furthermore, many dual CPA and CMA holders find the CMA’s materials more fascinating and valuable in their daily work. 

Again, it all depends on your professional goals. Still, the skills you’ll master as a Certified Management Accountant are widely regarded as the best in the business for the day-to-day duties you’ll face as an accountant. 

The IMA makes things simple for us. 

Unlike the CPA Exam, where qualifying for the exam might be more complex than passing it, the IMA (the CMA exam administrator) maintains everything easy, transparent, and organized for applicants. The IMA warmly welcomes international candidates, which offers the exam on hundreds of sites worldwide. 

Don’t get me wrong: the CMA isn’t easy to obtain due to the low entry hurdle. To qualify, applicants should have a four-year college education, finish a requesting test, and have two years of consistent administration bookkeeping experience. 

On the other hand, the IMA makes becoming a CMA as painless as possible. Candidates may concentrate on passing the exam and having a good time instead of becoming bogged down in bureaucracy and conflicting requirements from several state boards, as with the CPA certification process. Many people will profit significantly from this.

The CMA sounds fantastic, but how will it help me? 

All of the information may indicate that the CMA course seems appealing, but that does not imply that it is suitable for you. You are the only one who can truly determine that at the end of the day. However, I intend to provide you with various knowledge to aid in your decision-making. Let’s look at how the CMA certification can help you advance in your profession. 

Simandhar Education is one of the institutes that helps in the overall development of the student for achieving their dream and gives a paved way to a student in helping with CMA.  

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