The Certified Management Accountant (CMA) program is recognized globally as a benchmark for excellence in management accounting. The CMA Part 2 examination is a comprehensive test that covers all aspects of strategic financial management. CMA-Strategic-Financial-Management exam is designed to test the knowledge and skills of individuals who are seeking to become CMA certified professionals. The International Management Accountants (IMA) CMA-Strategic-Financial-Management: CMA Part 2 exam is one of the most challenging exams in the field of management accounting.
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The CMA Part 2 exam focuses on advanced topics of strategic financial management that enable candidates to make critical financial decisions in today's dynamic business environment. CMA-Strategic-Financial-Management exam covers three broad areas, including financial statement analysis, corporate finance, and decision analysis. CMA-Strategic-Financial-Management exam's main objective is to help candidates to develop skills that are necessary to plan and execute business strategies in a fast-paced, ever-evolving global economy.
To be eligible to take the CMA Part 2 Exam, candidates must have completed the CMA Part 1 Exam and hold a bachelor's degree from an accredited institution or have relevant professional experience. CMA-Strategic-Financial-Management exam is offered at Prometric testing centers worldwide, and candidates can register online through the IMA website.
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To be eligible to take the CMA Part 2 exam, candidates must have a bachelor's degree from an accredited university, or a professional certification such as the CPA, CFA, or CIA. They must also have passed the CMA Part 1 exam, which covers topics such as financial planning, performance, and control. Candidates must also have a minimum of two years of professional experience in financial management or related fields.
IMA CMA-Strategic-Financial-Management Exam Syllabus Topics:
| Section | Weight | Objectives |
| Topic 1: Enterprise Risk Management | 10% | - Risk identification and classification
- 1. ERM framework and governance
- 2. Risk assessment and mitigation strategies
- 3. Types of business risk: financial, operational, legal, strategic
|
| Topic 2: Professional Ethics | 15% | - IMA Statement of Ethical Professional Practice
- 1. Corporate responsibility and governance
- 2. Ethical principles and standards
- 3. Resolution of ethical conflict
|
| Topic 3: Corporate Finance | 20% | - Risk and return
- 1. Working capital management
- 2. Capital structure and optimal financing
- 3. Cost of capital: debt, equity, WACC
- 4. Types of risk and return measurement
- 5. Raising capital and dividend policy
|
| Topic 4: Financial Statement Analysis | 20% | - Basic financial statement analysis
- 1. Earnings quality and quality of financial reporting
- 2. Common-size and common-base year statements
- 3. Financial ratios: liquidity, leverage, activity, profitability
- 4. GAAP vs IFRS differences
|
| Topic 5: Business Decision Analysis | 25% | - Cost-volume-profit analysis
- 1. Marginal analysis and relevant costs
- 2. Pricing decisions: market-based and cost-based
- 3. Decision-making under risk
- 4. Risk analysis and uncertainty
|
| Topic 6: Capital Investment Decisions | 10% | - Capital budgeting process
- 1. Project risk and sensitivity analysis
- 2. Real options and valuation
- 3. Discounted cash flow techniques: NPV, IRR, payback
|