IMA CMA Part 1: Financial Planning - Performance and Analytics : CMA-Financial-Planning-Performance-and-Analytics Exam

  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
  • Updated: Jul 17, 2026
  • Q & A: 112 Questions and Answers

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IMA CMA-Financial-Planning-Performance-and-Analytics Exam Syllabus Topics:

SectionWeightObjectives
External Financial Reporting Decisions15%- Recognition, Measurement, Valuation and Disclosure
  • 1. Asset valuation
    • 2. Income measurement
      • 3. U.S. GAAP vs IFRS differences
        • 4. Revenue recognition
          • 5. Equity transactions
            • 6. Liability valuation
              - Financial Statements
              • 1. Balance sheet
                • 2. Income statement
                  • 3. Statement of changes in equity
                    • 4. Integrated reporting
                      • 5. Statement of cash flows
                        Cost Management15%- Overhead Costs
                        - Supply Chain and Business Process Improvement
                        - Measurement Concepts
                        • 1. Absorption vs variable costing
                          • 2. Actual, normal and standard costs
                            • 3. Cost behavior
                              - Costing Systems
                              • 1. Job order costing
                                • 2. Process costing
                                  • 3. Joint and by-product costing
                                    • 4. Activity-based costing
                                      Planning, Budgeting and Forecasting20%- Strategic Planning
                                      • 1. Strategic planning process and analysis
                                        - Budgeting Concepts and Methodologies
                                        • 1. Flexible budgets
                                          • 2. Zero-based and rolling budgets
                                            • 3. Activity-based budgeting
                                              • 4. Operating and financial budgets
                                                - Forecasting Techniques
                                                • 1. Learning curve analysis
                                                  • 2. Expected value
                                                    • 3. Time series analysis
                                                      • 4. Regression analysis
                                                        - Pro Forma Financial Statements
                                                        Technology and Analytics15%- Data Governance
                                                        • 1. Data quality and integrity
                                                          • 2. Data security policies
                                                            - Technology-Enabled Finance Transformation
                                                            - Data Analytics
                                                            • 1. Big data concepts
                                                              • 2. Data visualization
                                                                • 3. Predictive and prescriptive analytics
                                                                  - Information Systems
                                                                  • 1. Enterprise Resource Planning (ERP)
                                                                    • 2. Financial systems architecture
                                                                      Internal Controls15%- System Controls and Security
                                                                      • 1. General and application controls
                                                                        • 2. Business continuity planning
                                                                          • 3. Data security and backup
                                                                            - Governance, Risk and Compliance
                                                                            • 1. Internal control frameworks (COSO)
                                                                              • 2. Risk assessment and management
                                                                                • 3. Internal control procedures
                                                                                  Performance Management20%- Cost and Variance Measures
                                                                                  • 1. Mix and yield variances
                                                                                    • 2. Static and flexible budget variances
                                                                                      • 3. Material, labor and overhead variances
                                                                                        - Performance Measures
                                                                                        • 1. Residual Income (RI)
                                                                                          • 2. Economic Value Added (EVA)
                                                                                            • 3. Balanced Scorecard
                                                                                              • 4. Return on Investment (ROI)
                                                                                                - Responsibility Centers and Reporting Segments
                                                                                                • 1. Segment reporting
                                                                                                  • 2. Cost, profit and investment centers
                                                                                                    • 3. Transfer pricing

                                                                                                      IMA CMA Part 1: Financial Planning - Performance and Analytics Sample Questions:

                                                                                                      1. in preparing Klein Corporation's master budget for the following calendar year, the manager of the Production Department requested the purchase of a new piece of machinery with a purchase price of $150.000 in addition, the cost of installing the machine would total $13.000. The purchase price of the machine would be financed by a 6%. 5-year loan with interest due quarterly. The amount Klein Corporation should include in its Capital Expenditures Budget due to this purchase is

                                                                                                      A) $13,000
                                                                                                      B) $172,000
                                                                                                      C) $22,000
                                                                                                      D) $163,000


                                                                                                      2. The purchasing team manager of a large car retailer is responsible for purchasing cars for the Pest price and managing his team's payroll costs. Once the car is purchased the sales team manager is responsible for setting the prices. Which one of the following statements best describes the team s responsibilities'?

                                                                                                      A) The purchasing team is a cost center, and the sales team is an investment center.
                                                                                                      B) The purchasing team is an investment center and the sales team is a profit center
                                                                                                      C) The purchasing team is a cost center, and the sales team Is a revenue center
                                                                                                      D) The purchasing team is an investment center and the sales team is a revenue center


                                                                                                      3. Product liability is best classified as an example of

                                                                                                      A) external failure costs
                                                                                                      B) prevention costs
                                                                                                      C) appraisal costs
                                                                                                      D) internal failure costs


                                                                                                      4. Explain whether ZFI's current overhead allocation method is appropriate.
                                                                                                      Essay
                                                                                                      Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).

                                                                                                      ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
                                                                                                      Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
                                                                                                      ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
                                                                                                      In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.
                                                                                                      Time Value Table


                                                                                                      5. The manager in charge of the disaster recovery plan for a company has ensured that there is off-site storage of key data programs, operating systems and documentation. Which one of the following is the best next step to be prepared for a disaster?

                                                                                                      A) She should make sure that everyone Knows the location of offsite data storage.
                                                                                                      B) She should enter into reciprocal agreements with alternative ''hot'' sites.
                                                                                                      C) She should create a planning document including a list of critical applications.
                                                                                                      D) She should ensure that the "cold" sites are fully equipped and ready.


                                                                                                      Solutions:

                                                                                                      Question # 1
                                                                                                      Answer: B
                                                                                                      Question # 2
                                                                                                      Answer: C
                                                                                                      Question # 3
                                                                                                      Answer: A
                                                                                                      Question # 4
                                                                                                      Answer: Only visible for members
                                                                                                      Question # 5
                                                                                                      Answer: A

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