Format and Structure

CMA
PARTFORMATTIME
Part 1 – Financial Reporting, Planning, Performance, and Control100 MCQs, 2 essays4 hours
Part 2 – Financial Decision Making100 MCQs, 2 essays4 hours

 

CPA
PARTFORMATTIME
Auditing and Attestation

(AUD)

72 MCQs, 7 TBS4 hours
Financial Accounting and Reporting

(FAR)

62 MCQs, 4 TBS4 hours
Regulation

(REG)

66 MCQs, 8 TBS4 hours
Business Environment and Concepts

(BEC)

76 MCQs, 6 TBS4 hours
(TBS = task-based-simulations)

 

Content

CMA
PARTCONTENTALLOCATION
Part 1 – Financial Reporting, Planning, Performance, and ControlExternal Financial Reporting Decisions15%
Planning, Budgeting, and Forecasting30%
Performance Management20%
Cost Management20%
Internal Controls15%
 
Part 2 – Financial Decision MakingFinancial Statement Analysis25%
Corporate Finance20%
Decision Analysis20%
Risk Management10%
Investment Decisions15%
Professional Ethics10%

 

 

 

 

 

CPA
PARTCONTENTALLOCATION
Auditing and Attestation

(AUD)

Ethics, Professional Responsibilities, and General Principles15-25%
Assessing Risk and Developing a Planned Response20-30%
Performing Further Procedures and Obtaining Evidence30-40%
Forming Conclusions and Reporting15-25%
 
Financial Accounting and Reporting

(FAR)

Conceptual Framework, Standard-Setting, and Financial Reporting25-35%
Select Financial Statement Accounts30-40%
Select Transactions20-30%
Regulation

(REG)

Ethics, Professional Responsibilities, and Federal Tax Procedures10-20%
Business Law10-20%
Federal Taxation of Property Transactions12-22%
Federal Taxation of Individuals15-25%
Federal Taxation of Entities28-38%
Business Environment and Concepts

(BEC)

Corporate Governance17-27%
Economic Concepts and Analysis17-27%
Financial Management11-21%
Information Technology15-25%
Operations Management15-25%

 

There is an overlap of certain topics in both CMA and CPA examinations, as given below:

OVERLAPPING TOPICS
CMA PART 1 TOPICSAPPEARANCE IN CPA
External Financial Reporting DecisionsFAR, REG
Planning, Budgeting, and ForecastingBEC
Performance ManagementBEC
Cost ManagementBEC
Internal ControlsAUD
CMA PART 2 TOPICSAPPEARANCE IN CPA
Financial Statement AnalysisFAR, AUD
Corporate FinanceBEC
Decision AnalysisBEC
Risk ManagementBEC, AUD
Investment DecisionsBEC
Professional EthicsAUD

 

However, this does not mean the candidate takes the preparation of either examination lightly. The table above only shows that after completing the CMA examination, the candidate will be comfortable in answering the questions in the CPA examination.