CMA Part 1: syllabus, format and where to start
CMA Part 1 covers Financial Planning, Performance, and Analytics. Budgeting and performance management carry 20% each; reporting, cost management, internal controls, and technology and analytics carry 15% each.
Part 1 · Planning and performance
- External Financial Reporting Decisions15%
- Planning, Budgeting, and Forecasting20%
- Performance Management20%
- Cost Management15%
- Internal Controls15%
- Technology and Analytics15%
Bar scale: 0-100% of this part. Curriculum weights, not sample coverage.
| Starting point | Part 1 focus | Your next action |
|---|---|---|
| Scope | Operating plans, measurement and controls | Use the domain map below to identify unfamiliar tasks. |
| Exam | 100 MCQs followed by two scenario sets; four hours | Check the regional CBQ/essay distinction in the format section. |
| Preparation | Link budgets, variances and cost behavior | Work the example, then attempt fresh questions without notes. |
What you need to do in Part 1
Treat the syllabus as a set of things you can explain and calculate. Recognizing a chapter title does not show that you can solve a fresh problem.
| Domain | Weight | Practical checkpoint |
|---|---|---|
| External Financial Reporting Decisions | 15% | Explain recognition, measurement and the financial statements. |
| Planning, Budgeting, and Forecasting | 20% | Build linked operating and cash budgets under explicit assumptions. |
| Performance Management | 20% | Separate activity, price and efficiency effects before evaluating performance. |
| Cost Management | 15% | Trace costs to activities, products and the decisions they support. |
| Internal Controls | 15% | Connect a specific risk with preventive and detective controls. |
| Technology and Analytics | 15% | Assess data quality, analytical methods and decision usefulness. |
Work one Part 1 decision: the flexible budget
A static-budget comparison mixes output changes with spending changes. First reset the budget to actual activity, then compare costs.
Original worked example
A plant budgets $5 variable cost per unit and $12,000 fixed cost. Actual output is 3,000 units and actual total cost is $28,500. What is the flexible-budget cost variance?
$27,000 flexible budget = 3,000 × $5 + $12,000. Actual cost exceeds it by $1,500, an unfavorable variance.
The result identifies a cost difference after allowing for output. It does not identify the operational cause; you still need price, usage and fixed-cost details.
Follow one business through the Part 1 subjects
Consider a manufacturer planning a new product. Financial reporting determines how inventory and transactions appear in the accounts. Budgeting converts forecast sales into production, purchasing, labor and cash requirements. Cost management supplies the cost model used in those schedules.
Once operations begin, performance management compares actual results with an appropriate benchmark. Controls protect purchases, inventory records and reporting. Technology and analytics help the team detect missing transactions, forecast demand and communicate results. These are connected responsibilities, even when your course puts them in separate chapters.
That connection gives you a way to test understanding. After calculating an inventory balance, explain its effect on the next period’s production and cash. After identifying a cost variance, ask which operational evidence could explain it. A numerical answer without its business meaning leaves part of the learning task unfinished.
Check foundations before choosing the pace
You do not need equal starting knowledge in every domain. A financial accountant may be comfortable with reporting but unfamiliar with standard-cost variances. An operations analyst may read dashboards easily but need to rebuild financial-statement links. Record those differences before copying a study calendar.
Use a short task in reporting, budgeting, cost behavior and control judgment. Write the method without answer choices and distinguish “I have seen this” from “I can do this.” The result determines your initial learning allocation; it is not a score threshold for booking the exam.
Original worked example
A budget shows $50,000 of sales, all on credit. Half is collected this month; there are no opening receivables. What should the collection schedule show?
$25,000 current-month cash collections and $25,000 ending receivables, before other transactions.
Revenue and collection occur on different schedules. If you put all $50,000 into cash, revisit the statement links and timing before building a larger cash budget.
The format for your booked sitting
Each part is a separate four-hour exam. Use the current syllabus for scope and your appointment for the response format.
For 2027, most English-language CMA sittings use case-based questions. IMA Japan announces CBQs for Japanese-language exams from January 2027. Mainland China, Taiwan and English-language Japan require a separate check of the current local registration and appointment format.
| Stage | Both exam parts | What this means |
|---|---|---|
| Multiple choice | 100 MCQs · 3 hours | Average budget: 1.8 minutes per question. Complete this section before moving on. |
| Scenario section | 2 case-based sets · 1 hour total | CBQs are standard for most 2027 English-language sittings. |
| 2027 regional formats | Check language as well as location | For 2027, most English-language CMA sittings use case-based questions. IMA Japan announces CBQs for Japanese-language exams from January 2027. Mainland China, Taiwan and English-language Japan require a separate check of the current local registration and appointment format. |
| Section access | At least 50% on the MCQ section | This unlocks scenarios; it is not the passing standard. Once you leave MCQs, you cannot return. |
| Overall result | 360 on a 0-500 scaled score | A scaled score is not a percentage of questions correct. |
Choose your first week of work
Start with cost behavior and how the operating budget connects to cash. Use that structure when you reach performance variances. Keep control and analytics tasks in the weekly mix instead of leaving them to the final days.
| If you already know... | Test it with... | If it breaks down... |
|---|---|---|
| Budget formulas | A cash collection schedule with a time lag | Draw the sales-to-cash timing before calculating. |
| Variance names | A flexible-budget reconciliation | Separate output, price and usage effects. |
| Control definitions | A risk with two plausible controls | Explain which control prevents or detects that exact risk. |
Common questions
- Must I take Part 1 first?
- No. IMA permits either order. Choose using your recent experience, available study time and a short sample from both parts.
- Does this cover the whole Part 1 exam?
- This is an orientation and a worked example. Use the linked official outline and Learning Outcome Statements for the complete scope, then practise across every domain.
- Are the free PDFs full mock exams?
- No. Each part PDF contains 20 selected MCQs with explained answers. They do not replace complete syllabus coverage or the scenario portion.
Sources and editorial notes
Source check: . MiloPrep editorial team. Official facts and provider offer claims are identified below. Study schedules, examples and recommendations are editorial; they are not official questions, a required study-hour total or a passing guarantee.
- IMA Content Specification Outlines (PDF) ↗
Effective September 2024; page 5 lists the twelve domain weights. Use the newer handbook for question format.
- IMA CMA Handbook, March 2026 (PDF) ↗
Pages 4-6: certification deadlines; 7-9: format, windows, older registration cutoffs and appointment changes; 10-13: exam day, scoring and reports. The current CBQ purchase page describes a different, eight-month authorization period.
- IMA Learning Outcome Statements (PDF) ↗
Expected knowledge and application within each domain; not a question bank or a study-hour requirement.
- IMA CMA frequently asked questions ↗
Retakes, reports and the fee section: $300/$545 professional; $225/$407 student or academic. A separate older retake paragraph lists conflicting prices. Verify the applicable member price at checkout.
- IMA Japan Chapter: January 2027 CBQ announcement ↗
Japanese-language CBQs announced from January 2027. The former campaign schedule now redirects; use the Japan Chapter and current local registration for dates. Do not generalize to English-language exams.
MiloPrep is an independent study resource and is not affiliated with or endorsed by IMA or the providers discussed. Editorial methodology · About the editorial team.