Certified Management Accountant (CMA) Part – 2
Financial Decision Making
I want to know syllabus of CMA Part 2.
Difficulty level of CMA Part 2 and how much to study.
I want to know about CMA Part 2 exam pattern.
What is difference between CMA Part 1 and CMA Part 2
CMA Part 2 study, training, and lecture plan.
Knowledge base, resources and guides.
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
CMA IMA CURRICULUM AND FORMAT
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CMA Part 2 Exam Pattern
There are two components of CMA Part 2 exam. Multiple Choice Questions (MCQs) and Essay Type Questions
Multiple Choice Questions (MCQs)
- Exam consists of 100 MCQs.
- MCQs will come in random order, meaning exams do not follow any specific order of syllabus.
- Time to complete MCQs: 3 hours
Essay Type Questions
- Exam consists of 2 essay questions.
- Each question can have multiple sub-questions.
- Time to complete 2 essays: 1 hour
- Essay questions can be theoretical and/or numerical.
CMA part 2 Classes, Training and Lecture Plan for Dubai and Abu Dhabi
| Lecture Reference | Chapter Reference | Syllabus Specification | Syllabus Reference |
| 1 | Ethics, Fraud and Risk Management | Professional Ethics Risk Management |
F & D |
| 2 | Financial Markets and Types of Securities | Corporate Finance | B |
| 3 | Valuation Methods and Cost of Capital | Corporate Finance | B |
| 4 | Managing Current Assets | Corporate Finance | B |
| 5 | Corporate Restructuring and International Finance | Corporate Finance | B |
| 6 | Ratio Analysis | Financial Statement Analysis | A |
| 7 | Financing and Activity Measures | Financial Statement Analysis | A |
| 8 | Investment Decisions | Investment Decisions | E |
| 9 | CVP Analysis | Decision Analysis | C |
| 10 | Marginal Analysis | Decision Analysis | C |