Welcome to Week 11!
How are you doing? If you are preparing for Part 1, congratulations! This is your last week! If you are preparing for Part 2, there is one more week to go after this one.
A quick tip before you begin: Try to study at least 3 hours a day, and in the weekends a little more if your schedule permits.
Let’s get started shall we?
Certified Management Accountant Part 1 – Section E: Professional Ethics
This is the only week devoted to Professional Ethics. Take 3 days to study it, and use the rest of the week for mock exams of this section. After this week, be sure to take a full mock exam that encompasses all sections. This is very important for your exam success.
Also after this week practice essay questions. Essay questions are a big part of the exam and you’ll be better prepared for them if you practice. If you’d like to know more about how to prepare, the CMA Coach Study Guide has valuable tips and tools that will help you pass the exam on your first try.
A. Ethical considerations for management accounting and financial management professionals
- Provisions of IMA’s “Statement of Ethical Professional Practice”
- Evaluation and resolution of ethical issues such as:
a) Fraudulent reporting
b) Manipulation of analyses and results
c) Unethical behavior in developing budgets and standards
d) Manipulation of decision factors
Certified Management Accountant Part 2 – Section D: Investment Decisions
This is the last week on Section D. Take 4 days to study the topics below, and the rest of the week for practice exams. If time permits, take a mock exam of sections A, B, C, and D.
A. Ranking investment projects
- Ranking methods
- Capital rationing
- Mutually exclusive projects
B. Risk analysis in capital investment
- Sensitivity analysis
- Certainty equivalents
- Real options
- Discounted cash flow models
- Multiples models
- Valuation for acquisitions and divestitures
- Discount rates
Try to focus only on studying these topics. If you finish studying before the end of the week, go over your notes and formulas to harness your knowledge.
This weekly study plan is a simplified version of the study plan in my CMA Coach Study Guide. If you’d like a more in-depth guide that includes exam tips and much more, please visit the Study Guide page and get your copy.
Until next week.