CMA is the advanced professional certification measures the advanced accounting and financial management skills that drive business performance in today’s complex and challenging business environment. CMA is the credential that focuses specifically on financial planning, analysis, control and decision support, as well as professional ethics; critical skills for today’s complex and changing business environment. The CMA is tailor-made for finance professionals at all levels to enhance their value to current employers or expand their career potential. For more details http://www.imanet.org/cma_certification.aspx
Part 1 - Financial Planning, Performance and Control
A. Planning, Budgeting and Forecasting (30% - Levels A, B, and C)
1 Budgeting concepts
Operations and performance goals
Characteristics of successful budget process
Resource allocation
Other budgeting concepts
2. Forecasting techniques
Regression analysis
Learning curve analysis
Exponential smoothing
Time series analysis
Expected value
3 Budgeting methodologies
Annual business plans (master budgets)
Project budgeting
Activity-based budgeting
Zero-based budgeting
Continuous (rolling) budgets
Flexible budgeting
4 Annual profit plan and supporting schedules
Operational budgets
Financial budgets
Capital budgets
5. Top-level planning and analysis
Pro forma income
Financial statement projections
Cash flow projections
B. Performance Management (25% - Levels A, B, and C)
1 Cost and variance measures
Comparison of actual to planned results
Use of flexible budgets to analyze performance
Management by exception
Use of standard cost systems
Analysis of variation from standard cost expectations
2 Responsibility centers and reporting segments
Types of responsibility centers
Transfer pricing models
Reporting of organizational segments
3 Performance measures
Product profitability analysis
Business unit profitability analysis
Customer profitability analysis
Return on investment
Residual income
Investment base issues
Effect of international operations
Critical success factors
Balanced scorecard
C. Cost Management (25% - Levels A, B, and C)
1 Measurement concepts
Cost behavior and cost objects
Actual and normal costs
Standard costs
Absorption (full) costing
Variable (direct) costing
Joint and by-product costing
2 Costing systems
Job order costing
Process costing
Activity-based costing
Life-cycle costing
3. Overhead costs
Fixed and variable overhead expenses
Plant-wide versus departmental overhead
Determination of allocation base
Allocation of service department costs
4. Operational Efficiency
Just-in time manufacturing
Material requirements planning (MRP)
Theory of constraints and throughput costing
Capacity management and analysis
5 Business process performance
Value chain analysis
Value-added concepts
Process analysis
Benchmarking
Activity-based management
Continuous improvement concepts
Best practice analysis
Cost of quality analysis
D. Internal Controls (15% - Levels A, B, and C)
1 Risk assessment, controls, and risk management
Internal control structure and management philosophy
Internal control policies for safeguarding and assurance
Internal control risk
Implications of the Sarbanes-Oxley Act of 2002
U.S. Foreign Corrupt Practices Act internal control requirements
COSO Internal Control Framework
2 Internal auditing
Responsibility and authority of the internal audit function
Types of audits conducted by internal auditors
3 Systems controls and security measures
General accounting system controls
Application and transaction controls
Network controls
Flowcharting to assess controls
Backup controls
Disaster recovery procedures
E. Professional Ethics (5% - Levels A, B, and C)
Ethical considerations for management accounting and financial management professionals
Part 2- Financial Decision Making
A. Financial Statement Analysis (25% - Levels A, B, and C)
1. Basic Financial Statement Analysis
Common size financial statements
Common base year financial statements
Growth analysis
Purposes and components of financial statements
2 Financial Performance Metrics – Financial Ratios
Liquidity
Leverage
Activity
Profitability
Market
3 Profitability analysis
DuPont analysis
Income measurement analysis
Revenue analysis
Cost of sales analysis
Expense analysis
Variation analysis
4 Analytical Issues in Financial Accounting
Impact of foreign operations
Effects of changing prices and inflation
Off-balance sheet financing
Cash Flow Statement reconciliation to Income Statement
Impact of changes in accounting treatment
International Financial Reporting Standards (IFRS)
Fair value accounting
Differences in accounting and economic concepts of value and income
Earnings quality
B. Corporate Finance (25% - Levels A, B, and C)
1 Risk and return
Calculating return
Types of risk
Relationship between risk and return
Risk and return in portfolio context
Diversification
Asset pricing models
2 Managing financial risk
Portfolio management
Hedging
Financial risk management
3 Financial instruments
Term structure of interest rates
Bonds
Debt management
Common stock
Preferred stock
Options and other derivatives
Valuation of financial instruments
4 Cost of capital
Weighted average cost of capital
Cost of individual capital components
Calculating the cost of capital
Marginal cost of capital
5 Managing current assets
Working capital terminology
Cash management
Marketable securities management
Accounts receivable management
Inventory management
Types of short-term credit
Minimizing the cost of short-term credit
6 Raising capital
Financial markets and regulation
Market efficiency
Financial institutions
Initial public offerings
Secondary offerings
Dividend policy and share repurchases
Private placements
Lease financing
7 Corporate restructuring
Mergers and acquisitions
Divestitures
Bankruptcy
8. International finance
Fixed, flexible and floating exchange rates
Managing transaction exposure
Financing international trade
Transfer pricing tax implications
Political risk
C. Decision Analysis and Risk Management (25% - Levels A, B, and C)
1 Cost/volume/profit analysis
Breakeven analysis
Profit performance and alternative operating levels
Analysis of multiple products
2 Marginal analysis
Sunk costs, opportunity costs and other related concepts
Marginal costs and marginal revenue
Special orders and pricing
Make versus buy
Sell or process further
Add or drop segment
Capacity considerations
3 Pricing
Market comparables
Setting prices
Target costing
Elasticity
Product life cycle considerations
Market structure considerations
4 Risk assessment
Risk identification and exposure
Definition and scope of operational risk, hazard risk, financial risk and strategic risk
Risk mitigation strategies
Enterprise Risk Management
D. Investment Decisions (20% - Levels A, B, and C)
1. Capital budgeting process
Stages of capital budgeting
Incremental cash flows
ncome tax considerations
2. Discounted cash flow analysis
Net present value
Internal rate of return
Comparison of NPV and IRR
3. Payback and discounted payback
Uses of payback method
Limitations of payback method
Discounted payback
4. Ranking investment projects
Ranking methods
Capital rationing
Mutually exclusive projects
5. Risk analysis in capital investment
Sensitivity analysis
Certainty equivalents
Real options
6. Valuation
Discounted cash flow models
Multiples models
Valuation for acquisitions and divestitures
Discount rates
E. Professional Ethics (5% - Levels A, B, and C)
1 Ethical consideration for the organization
Anti-bribery provisions of the U.S. Foreign Corrupt Practices Act
Provisions of IMA’s Statement on Management Accounting, “Values and Ethics: From Inception to Practice”
Corporate responsibility for ethical conduct
Course Delivery and Fees
Our CMA trainers are expert in the field of Accounting & Finance having acedemic credentials like Doctrate in Finance, Chater Accountacts (CA-ICAI)), Cost Accountancy-Inter (ICWAI), Chartered Financial Analyst (CFA-US), Associate Company Secretary (ACA), MBA (Finance) and B.Com (Finaical Accounting, Auditing and Taxation) with reach Industry exposure in the field of Finance and Accounting.
Lectures covering the course content are held for period of 4 hours during weekend. Extra classes may be held for practice exam
Tuition Duration:
Three and half months or approximate 55 hours for each part
Eligibility Requirement:
1. Bachelor's degree from an accredited college or university
2. Foundational knowledge of economics, basic statistics, and financial accounting
3. Two continuous years of professional experience in management accounting or financial management.
4. Membership in IMA
Exams in a computer-based format are offered in three testing windows each year, student can sit for an exam part at time and place convenient.
|
Windows |
Months |
Last date for registration |
|
1 |
January and February |
February 15th |
|
2 |
May and June |
June 15th |
|
3 |
September and October |
October 15th |
For latest updates contact the institute.