Welcome to Week 2!
How did you do on your first week? Feel free to reply to this email and share with me 🙂
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 B: Planning, Budgeting and Forecasting
In this week, your main focus should be on Strategic Planning, Budgeting Concepts, and Forecasting Techniques.
1. Strategic planning
- Analysis of external and internal factors affecting strategy
- Long-term mission and goals
- Alignment of tactics with long-term strategic goals
- Strategic planning models and analytical techniques
- Characteristics of successful strategic planning process
2. Budgeting concepts
- Operations and performance goals
- Characteristics of a successful budget process
- Resource allocation
- Other budgeting concepts
3. Forecasting techniques
- Regression analysis
- Learning curve analysis
- Expected value
Certified Management Accountant Part 2 – Section A: Financial Statement Analysis (Continued)
In this week, your main focus should be on Profitability Analysis and Special Issues. If you were not able to finish studying Financial Ratios in week 1, take a day from week 2 to finish them up before starting on Profitability Analysis.
3. Profitability analysis
- Income measurement analysis
- Revenue analysis
- Cost of sales analysis
- Expense analysis
- Variation analysis
4. Special issues
- Impact of foreign operations
- Effects of changing prices and inflation
- Off-balance sheet financing
- Impact of changes in accounting treatment
- Accounting and economic concepts of value and income
- Earnings quality
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.