Welcome to Week 3!
Wow, week 3 already! How’s it going? If you have any questions drop a comment below and I’ll reply back. Don’t be shy 🙂
A quick tip before you begin: Try to study at least 2 to 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 B: Planning, Budgeting & Forecasting
Take 5 days to studying this week. The rest of the week focus on taking practice tests of Section A & B. Take as many practice tests as you need until you have scored at least 80%.
4. Budgeting methodologies
- Annual business plans (master budgets)
- Project budgeting
- Activity-based budgeting
- Zero-based budgeting
- Continuous (rolling) budgets
- Flexible budgeting
5. Annual profit plan and supporting schedules
- Operational budgets
- Financial budgets
- Capital budgets
6. Top-level planning and analysis
- Pro forma income
- Financial statement projections
- Cash flow projections
Certified Management Accountant Part 2 – Section B: Corporate Finance
In this week, allocate 4 days to studying Analytical Issues in Financial Accounting. The rest of the week focus on taking practice tests of Section A. Take as many practice tests as you need until you have scored at least 80%.
1. Risk and return
- Calculating return
- Types of risk
- Relationship between risk and return
2. Long-term financial management
- Term structure of interest rates
- Types of financial instruments
- Cost of capital
- Valuation of financial instruments
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.
If you find the content hard to learn, perhaps having an instructor by your side helping you each step of the way may be better than self-studying. Check out the video below that explains more about this and about my online CMA video prep course:
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, exam formula guides and much more, please visit the Study Guide page and get your copy. This is a must-have guide if you plan to self-study.
Until next week,