When compared to other financial and accounting tests, such as the CPA and CFA, the scope of the information covered is substantially smaller. As you are aware, the CMA test consists of two parts. Part 1's discussion of financial accounting covers internal controls, performance and cost management, planning, budgeting, and forecasting. The second half covers financial statements, corporate finance, decision-making, risk management, investment options, and professional ethics. When comparing the CMA exam curriculum to the CPA exam curriculum, you will see that the CPA exam is not only separated into four sections, but also contains taxation, auditing, and business law. The CMA exam also does not delve as deeply into specifics as some other tests, which should reduce the amount of strain you feel when studying.
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