Prepare for the 2023 CMA USA Exams with the Most Latest Syllabus and Exam Pattern
The syllabus for the US CMA 2023 is designed to provide candidates with the information and abilities needed for financial management and strategic decision-making. Understanding the curriculum is critical for your CMA journey, whether you're taking Part 1 on Financial Planning, Performance, and Analytics or Part 2 on Strategic Financial Management. The syllabus for the US CMA 2023 is described below for both Part 1 and Part 2.
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CMA USA Part 1 - Financial Planning, Performance, and Analytics Syllabus
A. External Financial Reporting Decisions (15% - Levels A, B, and C)
1. Financial Statements
Balance Sheet
Income Statement
Statement of Changes in Equity
Statement of Cash Flows
Integrated Reporting
2. Recognition, Measurement, Valuation, and Disclosure
Asset Valuation
Valuation of Liabilities
Equity Transactions
Revenue Recognition
Income Measurement
Major Differences between U.S. GAAP and IFRS
B. Planning, Budgeting, and Forecasting (20% - Levels A, B, and C)
1. Strategic Planning
Analysis of External and Internal Factors Affecting Strategy
Long-Term Mission and Goals
Alignment of Tactics with Long-Term Strategic Goals
Strategic Planning Models and Analytical Techniques
Characteristics of a Successful Strategic Planning Process
2. Budgeting Concepts
Operations and Performance Goals
Characteristics of a Successful Budget Process
Resource Allocation
Other Budgeting Concepts
3. Forecasting Techniques
Regression Analysis
Learning Curve Analysis
Expected Value
4. Budgeting Methodologies
Annual Business Plans (Master Budgets)
Project Budgeting
Activity-Based Budgeting
Zero-Based Budgeting
Continuous (Rolling) Budgets
Flexible Budgeting
5. Annual Profit Plan and Supporting Schedules
Operational Budgets
Financial Budgets
Capital Budgets
6. Top-Level Planning and Analysis
Pro Forma Income
Financial Statement Projections
Cash Flow Projections
C. Performance Management (20% - Levels A, B, and C)
1. Cost and Variance Measures
Comparison of Actual to Planned Results
Use of Flexible Budgets to Analyze Performance
Management by Exception
Use of Standard Cost Systems
Analysis of Variation from Standard Cost Expectations
2. Responsibility Centers and Reporting Segments
Types of Responsibility Centers
Transfer Pricing
Reporting of Organizational Segments
3. Performance Measures
Product Profitability Analysis
Business Unit Profitability Analysis
Customer Profitability Analysis
Return on Investment
Residual Income
Investment Base Issues
Key Performance Indicators (KPIs)
Balanced Scorecard
D. Cost Management (15% - Levels A, B, and C)
1. Measurement Concepts
Cost Behavior and Cost Objects
Actual and Normal Costs
Standard Costs
Absorption (Full) Costing
Variable (Direct) Costing
Joint and By-Product Costing
2. Costing Systems
Job Order Costing
Process Costing
Activity-Based Costing
Life-Cycle Costing
3. Overhead Costs
Fixed and Variable Overhead Expenses
Plant-Wide vs. Departmental Overhead
Determination of Allocation Base
Allocation of Service Department Costs
4. Supply Chain Management
Lean Resource Management Techniques
Enterprise Resource Planning (ERP)
Theory of Constraints
Capacity Management and Analysis
5. Business Process Improvement
Value Chain Analysis
Value-Added Concepts
Process Analysis, Redesign, and Standardization
Activity-Based Management
Continuous Improvement Concepts
Best Practice Analysis
Cost of Quality Analysis
Efficient Accounting Processes
E. Internal Controls (15% - Levels A, B, and C)
1. Governance, Risk, and Compliance
Internal Control Structure and Management Philosophy
Internal Control Policies for Safeguarding and Assurance
Internal Control Risk
Corporate Governance
External Audit Requirements
2. System Controls and Security Measures
General Accounting System Controls
Application and Transaction Controls
Network Controls
Backup Controls
Business Continuity Planning
F. Technology and Analytics (15% - Levels A, B, and C)
1. Information Systems
Accounting Information Systems
Enterprise Resource Planning Systems
Enterprise Performance Management Systems
2. Data Governance
Data Policies and Procedures
Life Cycle of Data
Controls Against Security Breaches
3. Technology-Enabled Finance Transformation
System Development Life Cycle
Process Automation
Innovative Applications
4. Data Analytics
Business Intelligence
Data Mining
Analytic Tools
Data Visualization
CMA USA Part 2 - Strategic Financial Management
A. Financial Statement Analysis (20% - Levels A, B, and C)
1. Basic Financial Statement Analysis
Common Size Financial Statements
Common Base Year Financial Statements
2. Financial Ratios
Liquidity
Leverage
Activity
Profitability
Market
3. Profitability Analysis
Income Measurement Analysis
Revenue Analysis
Cost of Sales Analysis
Expense Analysis
Variation Analysis
4. Special Issues
Impact of Foreign Operations
Effects of Changing Prices and Inflation
Impact of Changes in Accounting Treatment
Accounting and Economic Concepts of Value and Income
Earnings Quality
B. Corporate Finance (20% - Levels A, B, and C)
1. Risk and Return
Calculating Return
Types of Risk
Relationship Between Risk and Return
2. Long-Term Financial Management
Term Structure of Interest Rates
Types of Financial Instruments
Cost of Capital
Valuation of Financial Instruments
3. Raising Capital
Financial Markets and Regulation
Market Efficiency
Financial Institutions
Initial and Secondary Public Offerings
Dividend Policy and Share Repurchases
Lease Financing
4. Working Capital Management
Working Capital Terminology
Cash Management
Marketable Securities Management
Accounts Receivable Management
Inventory Management
Types of Short-Term Credit
Short-Term Credit Management
5. Corporate Restructuring
Mergers and Acquisitions
Other Forms of Restructuring
6. International Finance
Fixed, Flexible, and Floating Exchange Rates
Managing Transaction Exposure
Financing International Trade
C. Decision Analysis (25% - Levels A, B, and C)
1. Cost/Volume/Profit Analysis
Breakeven Analysis
Profit Performance and Alternative Operating Levels
Analysis of Multiple Products
2. Marginal Analysis
Sunk Costs, Opportunity Costs, and Other Related Concepts
Marginal Costs and Marginal Revenue
Special Orders and Pricing
Make vs. Buy
Sell or Process Further
Add or Drop a Segment
Capacity Considerations
3. Pricing
Pricing Methodologies
Target Costing
Elasticity of Demand
Product Life-Cycle Considerations
Market Structure Considerations
D. Risk Management (10% - Levels A, B, and C)
1. Enterprise Risk
Types of Risk
Risk Identification and Assessment
Risk Mitigation Strategies
Managing Risk
E. Investment Decisions (10% - Levels A, B, and C)
1. Capital Budgeting Process
Stages of Capital Budgeting
Incremental Cash Flows
Income Tax Considerations
Evaluating Uncertainty
2. Capital Investment Analysis Methods
Net Present Value
Internal Rate of Return
Payback
Comparison of Investment Analysis Methods
F. Professional Ethics (15% - Levels A, B, and C)
1. Business Ethics
Moral Philosophies and Values
Ethical Decision Making
CMA USA Exam Pattern 2023
Understanding the exam format for the CMA USA 2023 examinations, in addition to the content, is critical for optimal preparation. We give complete information on the 2023 CMA USA exam pattern below:
Name of Subjects:
Part 1: Financial Planning, Performance, and Analytics Syllabus
Part 2: Strategic Financial Management
Duration of the Exam:
Part 1: 4 Hours
Part 2: 4 Hours
Number of Questions:
Part 1: 102
Part 2: 102
Type of Questions:
Part 1: 100 Multiple-Choice Questions (MCQs) and 2 30-Minute Essays
Part 2: 100 Multiple-Choice Questions (MCQs) and 2 30-Minute Essays
Deep dive into the content and comprehend the exam pattern to properly prepare for the CMA USA 2023 examinations. This complete preparation plan will put you on the road to CMA success.
Also View: CMA USA Course Overview
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