Part 1 – Financial Planning, Performance, and Analytics

External Financial Reporting Decisions (15%)
This section focuses on understanding a business’s financial health and predicting its future. It covers basic accounting principles, taxes, financial summaries, statements, and disclosures, along with the skill of financial reporting. Students learn how to analyze financial data and create reports that are meaningful for businesses.

Planning, Budgeting, and Forecasting (20%)
Imagine trying to run a business without a budget—it wouldn’t work well. A budget helps an organization plan for risks and reduce their impact. In this part of the course, students learn practical business skills in planning and budgeting. They study budgeting concepts, methods,

financial projections, and cash flow analysis. Students also explore strategic planning and resource management within a business setting.

Performance Management (20%)
A company’s success is closely linked to its overall performance and profitability. Performance management helps stakeholders stay informed about the company’s financial status. This module covers cost and variance measures, performance metrics, business performance analysis, profitability assessment, creating a balanced scorecard, and developing key performance indicators (KPIs). As a CMA professional, you’ll become skilled at optimizing a business’s performance.

Cost Management (15%)
At the core of every business is its cost structure, which is essential for a successful business plan. CMAs are experts in managing costs, profits, and strategic planning. This section teaches students how to estimate costs, control expenses, and understand costing systems. It also covers supply chain management, lean management, ERP, value resource planning, and other key cost management principles.

Internal Controls (15%)
This module covers various aspects of business controls, including financial controls, cost controls, risk controls, compliance, audits, and governance. Students learn how to plan effective internal controls and governance tailored to a business’s needs. Internal audits and controls are crucial for improving the efficiency and productivity of business operations.

Technology and Analytics (15%)
In today’s fast-paced world, data analytics is key for making predictions and decisions. By combining past reports with risk assessments, analytics plays a central role. Businesses are looking for professionals who excel in both accounting and data analytics. This module teaches CMAs how to effectively use technology and data analytics to establish optimal accounting practices and systems for any industry.

Part 2 – Strategic Financial Management

Financial Statement Analysis (20%)
This module starts with the basics of financial statements—how to create them, understand the different types, and analyze them using ratios and other tools. After mastering the basics, students move on to advanced topics like revenue, income measurement, and variation analysis. The module also covers how factors like inflation, accounting standards, pricing, foreign operations, and earnings quality affect the financial landscape.

Corporate Finance (20%)
Understanding the reasons behind financial reports and analysis is essential in business. This module helps students explore these reasons. It covers topics like securing funds, valuation, financing options, cash management, handling accounts receivable and payable, mergers and acquisitions, corporate restructuring, international finance, and managing transaction exposure. Students learn how to balance risk and reward in any business situation.

Decision Analysis (25%)
Every business decision impacts the company’s scale, budget, and financial health. There are various ways to analyze these effects, but a certified management accountant is skilled at finding the best approach for making decisions. This module covers Cost-Volume-Profit Analysis, Break-even analysis, marginal analysis, and opportunity costs. Students also learn about pricing methods, product life cycles, demand elasticity, and how to make sound financial decisions for a business.

Risk Management (10%)
Every business faces risks that can threaten its success. These risks include market, credit, and financing risks. The CMA course teaches students how to manage these risks effectively in real-world situations. This module covers identifying risks, managing them, and putting measures in place to reduce their impact.

Investment Decisions (10%)
Businesses often face many investment choices, and finance professionals play a key role in presenting the information needed to make these decisions. This module covers topics like the time value of money, financial math concepts, and creating investment plans. Students learn how to project returns, analyze investment decisions, and monitor investments, gaining the skills needed for enterprise investment planning.

Professional Ethics (15%)
Professional ethics are crucial for CMA-certified professionals, setting them apart in the accounting and finance fields. In addition to specialized knowledge in management accounting, finance, and business, CMAs are trained in the professional ethics and values that uphold the highest standards of professionalism. This module familiarizes students with the IMA’s globally recognized ethical standards, which all certified management accountants follow.