Content Specification Outlines – Certified Management Accountant (CMA) Examinations
The content specification outlines presented below represent the body of knowledge that will be covered on the CMA examinations. The outlines may be changed in the future when new subject matter becomes part of the common body of knowledge.
Candidates for the CMA designation are required to take and pass Parts 1 and 2.
Candidates are responsible for being informed on the most recent developments in the areas covered in the outlines. This includes understanding of public pronouncements issued by accounting organizations as well as being up-to-date on recent developments reported in current accounting, financial and business periodicals.
The content specification outlines serve several purposes. The outlines are intended to:
• Establish the foundation from which each examination will be developed.
• Provide a basis for consistent coverage on each examination.
• Communicate to interested parties more detail as to the content of each examination part.
• Assist candidates in their preparation for each examination.
• Provide information to those who offer courses designed to aid candidates in preparing for the examinations.
Important additional information about the content specification outlines and the examinations is listed below.
1. The coverage percentage given for each major topic within each examination part represents the relative weight given to that topic in an examination part. The number of questions presented in each major topic area approximates this percentage.
2. Each examination will sample from the subject areas contained within each major topic area to meet the relative weight specifications. No relative weights have been assigned to the subject areas within each major topic. No inference should be made from the order in which the subject areas are listed or from the number of subject areas as to the relative weight or importance of any of the subjects.
Part 1 – Financial Planning, Performance and Control
A. Planning, Budgeting and Forecasting (30% – Levels A, B, and C)
1. Budgeting concepts
a. Operations and performance goals
b. Characteristics of a successful budget process
c. Resource allocation
d. Other budgeting concepts
2. Forecasting techniques
a. Regression analysis
b. Learning curve analysis
c. Exponential smoothing
d. Time series analysis
e. Expected value
3. Budgeting methodologies
a. Annual business plans (master budgets)
b. Project budgeting
c. Activity-based budgeting
d. Zero-based budgeting
e. Continuous (rolling) budgets
f. Flexible budgeting
4. Annual profit plan and supporting schedules
a. Operational budgets
b. Financial budgets
c. Capital budgets