CMA Part 1 covers Financial Planning, Performance, and Analytics across six domains. Use IMA’s Content Specification Outlines for coverage and its Learning Outcome Statements for the calculations and decisions you need to practise. Check the current examination format for your region: IMA’s English enrolment page now lists case-based questions.
Use all six Part 1 domains
The Content Specification Outlines effective September 1, 2024 assign the following weights to Part 1. Each domain has Level C coverage, which can include application, analysis, synthesis and evaluation as well as foundational knowledge.
The outline gives no separate weights to the subjects within a domain. Their number and order do not establish importance, so check the full set of learning outcomes.
Review prerequisite skills such as financial statement preparation, time value of money, statistics and probability as needed. The outline assumes this foundation; it is not a reason to omit related concepts when they appear in an assessed task.
| Part 1 domain | Weight | Coverage level |
|---|---|---|
| External Financial Reporting Decisions | 15% | Level C |
| Planning, Budgeting, and Forecasting | 20% | Level C |
| Performance Management | 20% | Level C |
| Cost Management | 15% | Level C |
| Internal Controls | 15% | Level C |
| Technology and Analytics | 15% | Level C |
Official sources: Content Specification Outlines, Certified Management Accountant (CMA) Examinations, effective September 1, 2024 — Part 1 overview and Sections A–F; Learning Outcome Statements, CMA, Content Specification Outlines effective September 1, 2024 — Part 1 Sections A–F
Check the format for your language and region
IMA’s current English enrolment page lists two case-based questions in the second section and describes their launch in May 2026. That page directs candidates testing in China, Taiwan or Japan to separate regional purchasing pages.
A case presents a short business scenario followed by items such as calculations, fill-in-the-blank answers, selections and drag-and-drop responses. Use the current demonstration and instructions for your actual exam option.
The September 2024 outline describes 100 multiple-choice questions and two essays within four hours, split into three hours for multiple choice and one hour for essays. Its essay wording predates the case-based change. Confirm the current section format and timing in your authorisation materials instead of assuming the old written-response instructions apply unchanged.
IMA says the case-based format retains the exam’s content, difficulty and expectations. Continue preparing from the official subject outlines while using practice suited to the format you will take.
Official sources: Content Specification Outlines, Certified Management Accountant (CMA) Examinations, effective September 1, 2024 — Part 1 overview and Sections A–F; CMA exam enrollment page | IMA — entrance fee, exam prices, case-based questions, testing windows
Separate passing Part 1 from earning the CMA
Certification requires active IMA membership, the qualifying education or professional certification, two continuous years of relevant experience, and passes in both exam parts.
IMA allows you to take the parts in either order and gives three years from enrolment to pass both. Passing Part 1 alone does not award the CMA.
The current programme page uses different starting points when describing the seven-year education and experience deadline. Confirm your applicable deadline in the current handbook or with IMA; do not base it on whichever summary gives you more time.
After passing both parts, IMA describes an annual requirement of 30 continuing professional education hours, including at least two in ethics, together with active membership. Check the current maintenance rules for your status.
Official sources: How to earn the CMA Certification | IMA — program steps, requirements FAQ, scheduling, CPE; CMA exam enrollment page | IMA — entrance fee, exam prices, case-based questions, testing windows
Turn learning outcomes into concrete practice
Use the verbs in the Learning Outcome Statements to choose your study activity: explaining a concept, performing a calculation and evaluating a decision require different practice.
- External Financial Reporting Decisions: review the listed financial statements, recognition and measurement topics and differences between reporting frameworks.
- Planning, Budgeting, and Forecasting: practise linked budget schedules, forecasting calculations and the assumptions behind projected results.
- Performance Management: calculate and interpret variances and performance measures. A variance identifies a difference to investigate; it does not by itself prove who caused it.
- Cost Management: work inventory, cost-of-goods-sold and operating-income examples under the specified costing method, and compare the results.
- Internal Controls: review the named frameworks, responsibilities and system controls. Read what authority each person actually has before evaluating a scenario.
- Technology and Analytics: practise the listed data, systems and analytics topics, including interpreting results and choosing an appropriate presentation.
Official sources: Content Specification Outlines, Certified Management Accountant (CMA) Examinations, effective September 1, 2024 — Part 1 overview and Sections A–F; Learning Outcome Statements, CMA, Content Specification Outlines effective September 1, 2024 — Part 1 Sections A–F
Understand the costing method before calculating income
Variable costing expenses fixed manufacturing overhead in the period. Absorption costing includes fixed manufacturing overhead in product cost, so some may remain in inventory until the related units are sold.
IMA’s Part 1 learning outcomes require calculating and comparing inventory, cost of goods sold and operating profit under both methods. OpenStax’s managerial accounting chapter explains the underlying treatment.
For the example below, there is no beginning inventory and the stated production volume sets the fixed-overhead rate. These assumptions matter: a shortcut based only on the change in inventory units is not a universal reconciliation when other periods’ overhead rates or adjustments differ.
Worked example
Meridian Fabrication produced 10,000 units and sold 8,000 units at $60 each, with no beginning inventory. Variable manufacturing cost is $20 per unit; fixed manufacturing overhead totals $150,000. Variable selling and administrative cost is $5 per unit sold; fixed selling and administrative cost is $40,000. Assume actual production equals the volume used to set the fixed overhead rate, so no overhead volume adjustment arises. Compute operating income under absorption costing and under variable costing, then reconcile the difference.
Show answer
Absorption operating income is $120,000; variable costing operating income is $90,000; the $30,000 difference equals the 2,000 unsold units in ending inventory times the $15 fixed overhead rate per unit.
The fixed overhead rate is $150,000 ÷ 10,000 = $15 per unit, so absorption unit product cost is $20 + $15 = $35. Absorption: sales $480,000 − cost of goods sold (8,000 × $35) $280,000 = gross margin $200,000, minus selling and administrative costs of $40,000 + $40,000 = $80,000, giving $120,000. Variable costing: sales $480,000 − variable cost of goods sold (8,000 × $20) $160,000 − variable selling costs $40,000 = contribution margin $280,000, minus the full $150,000 fixed overhead and $40,000 fixed selling costs, giving $90,000. The entire gap is timing: absorption defers $15 of fixed overhead on each of the 2,000 units still in inventory ($30,000), while variable costing expenses all $150,000 now. Check: 2,000 × $15 = $120,000 − $90,000.
Official sources: Learning Outcome Statements, CMA, Content Specification Outlines effective September 1, 2024 — Part 1 Sections A–F; 6.5 Compare and Contrast Variable and Absorption Costing - Principles of Accounting, Volume 2: Managerial Accounting | OpenStax — Variable costing , also called direct costing
Use errors to choose the next topic
After each practice set, identify the exact learning outcome and the step that caused the error.
For a calculation, check the model, units, classifications and assumptions before repeating arithmetic. For a scenario, separate the facts given from additional assumptions you made. A correct number is only useful when you can explain what it means.
Use IMA’s practice quiz and simulated test to learn the question presentation and check your preparation. A short quiz can identify topics to revisit; it cannot by itself establish readiness for the whole examination.
Official sources: How to earn the CMA Certification | IMA — program steps, requirements FAQ, scheduling, CPE; Learning Outcome Statements, CMA, Content Specification Outlines effective September 1, 2024 — Part 1 Sections A–F
Register for a window you can use
The annual testing windows are January/February, May/June and September/October. Register with IMA, receive authorisation, then schedule through Prometric.
The current English enrolment page for testing outside China, Taiwan and Japan displays a $300 entrance fee and $545 for each case-based exam part. Active IMA membership is required. Confirm the amounts applicable to your membership and region at purchase.
IMA recommends scheduling at least four weeks ahead for a preferred appointment and requires scheduling at least 72 hours before the exam date. The four-week recommendation and the 72-hour minimum are different rules.
IMA states that an appointment cannot move to a different testing window. If you cannot schedule within your assigned window, another registration fee is required. Check your preparation progress and available appointments before committing to a window.
Official sources: How to earn the CMA Certification | IMA — program steps, requirements FAQ, scheduling, CPE; CMA exam enrollment page | IMA — entrance fee, exam prices, case-based questions, testing windows
Official sources
Facts checked against official sources:
- How to earn the CMA Certification | IMA
- Content Specification Outlines, Certified Management Accountant (CMA) Examinations, effective September 1, 2024
- Learning Outcome Statements, CMA, Content Specification Outlines effective September 1, 2024
- CMA Certification: The Global Standard Guide to Management Accounting | IMA
- Find Courses to Study for the CMA Exams | IMA
- CMA exam enrollment page | IMA
- 6.5 Compare and Contrast Variable and Absorption Costing - Principles of Accounting, Volume 2: Managerial Accounting | OpenStax