CMA Part 2 Syllabus Components

CMA Part 2 syllabus is divided into 6 components:

• Financial Statement Analysis – 25%
• Corporate Finance – 20%
• Decision Analysis – 20%
• Risk Management – 10%
• Investment Decisions – 15%
• Professional Ethics – 10%

CMA Part 2 Syllabus (click image to enlarge)

A. Financial Statement Analysis

• Total syllabus area: 25%
• Calculation and interpretation of financial ratios;
• Evaluate performance utilizing multiple ratios;
• Market value vs. book value;
• Profitability analysis;
• Analytical issues including impact of foreign operations, effects of changing prices and inflation, off- balance sheet financing, and earnings quality.

C. Decision Analysis

• Total syllabus area: 20%
• Relevant data concepts;
• Cost-volume-profit analysis;
• Marginal analysis; make vs. buy decisions;
• Income tax implications for operational decision analysis;
• Pricing methodologies including market comparable, cost-based and value-based approaches.

E. Investment Decisions

• Total syllabus area: 15%
• Cash flow estimates;
• Discounted cash flow concepts;
• Net present value; internal rate of return, discounted payback;
• Payback;
• Income tax implications for investment decisions;
• Risk analysis; and real options.

F. Professional Ethics

• Total syllabus area: 10%
• Ethical considerations for management accounting professionals and for the organization.

B. Corporate Finance

• Total syllabus area: 20%
• Types of risk; including credit, foreign exchange, interest rate, market, and political risk;
• Capital instruments for long-term financing; initial and secondary public offerings;
• Dividend policy;
• Cost of capital;
• Working capital management; raising capital; managing and financing working capital;
• Mergers and acquisitions; and international finance.

D. Risk Management

• Total syllabus area: 10%
• Types of risk including business, hazard, financial, operational, strategic, legal compliance and
  political risk;
• Risk mitigation;
• Risk management;
• Risk analysis;
• ERM