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,


5 Comments on “CMA Exam Study Plan – Week 3”

  1. Hi Nathan,

    As per your advice, I am drawing up a study plan. There’s just one confusion: when you say to cover the topic, does that include just the reading materials, or also taking the practice tests? Because this is only when you mention spending time on Practice Tests…

  2. Hi Nathan
    I have completed topics such as Ethics for management accountants and cost management concepts and Internal control risk and procedures for control. I have got up to 80% in the practice test but I am unable to answer the essay questions properly. Can you tell me how I should tackle the essay questions. I also had one doubt about CMA exam .Do they have a separate pass percent for essay questions , I mean if I get 60% percent in MCQ and if I dnt do well in essay do i pass or not the exam????

  3. Hi Nathan,
    The cmacoach website is really helpful and thank you for the study plan.
    I have been preparing for both parts simultaneously. But currently i find i can go ahead with only one part. Also the syllabus changes is worrying me. There is going to be changes in both parts from 2015 as you know, i would like you to suggest me as to which part i can take up for now and which one can i take up with changes in feb2015. Your suggestion would be really helpful. Thanks

    1. Vaishali,

      Check out this post I just published about the changes coming in 2015. Let me know if you have any questions after giving it a read.

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