US CMA New Syllabus 2020 Changes
The US CMA exam syllabus has changed, and IMA has declared the US CMA 2020 exam changes. To enable you to realize what's in store and decide when you should take the test, I've clarified every one of the subtleties. Master all that you have to think about the US CMA exam changes now.
What has changed in US CMA 2020 syllabus?
The IMA has brought the new titles and content for both the parts of the US CMA examination.
Technology is the new keyword for Part 1. The IMA clarifies that technology is changing the profession, so US CMAs must be prepared to utilize it. Hence, this test part will get another title and another content section to extend its inclusion of technology and analytics.
The IMA needs Part 2 to guarantee that accounting and money related experts have what it takes they have to settle on moral and key choices in the computerized world. Therefore, the IMA is extending the Professional Ethics and Decision Analysis areas of Part 2.
US CMA Part 1 2020 Syllabus Change:
| New Syllabus | Old Syllabus |
| Technology and Analytics, Integrated Reporting | Internal Auditing |
US CMA Part 2 2020 Syllabus Change:
| New Syllabus | Old Syllabus |
| Business Ethics, Sustainability and Social Responsibility | Off-Balance Sheet Financing, Bankruptcy, Tax Implications of Transfer Pricing |
Reasons for changes in Syllabus
- Changes to the CMA test are a consequence of a thorough activity investigation study directed by the IMA. The CMA test content was changed in accordance with assistance experts and considering all the innovative progressions being coordinated into pretty much every efficient Blockchain, Artificial Intelligence (AI), and significantly more.
- The refreshed test structure targets preparing accounting and money experts with the best possible information, abilities, and skills that are important for the present practice. As indicated by the Institute of Management Accountants (IMA), CMAs should be "future-prepared", and these progressions will help get them there.
New topics explanation
Part 1: Technology and Analytics
- Information Systems
- Data Governance
- Technology-enabled finance transformation
- Data analytics
Technology is changing the profession, and we need our CMAs to be readied. Section 1 of the CMA test will remember another area for Technology and Analytics.
To account for this new expansion, different areas were decreased in size to oblige this.
Part 2: Professional ethics
- Business ethics
Professional Ethics will increment in inclusion in light of the expansion of new substance. This space will presently test applicants on new LOSs including mindless compliance, assorted variety of thought, moral initiative and characteristics of moral pioneers.
US CMA New Syllabus Percentage Chart
US CMA Part 1 - Old vs New Syllabus 2020
| Content Areas | Previous percentage | New percentage |
| External Financial Reporting Decisions | 15% | 15% |
| Planning, Budgeting, and Forecasting | 30% | 20% |
| Performance Management | 20% | 20% |
| Cost Management | 20% | 15% |
| Internal Controls | 15% | 15% |
| Technology and Analytics | - | 15% |
In the above table, we came to see that there is a change of 5 to 10% in Planning Budgeting and Forecasting and Cost Management with the addition of new content areas. Rest of the content have remained unchanged. The new Section, which is Technology and Analytics comes with 15% of the total weightage.
US CMA Part 2 - Old vs New Syllabus 2020
| Content Areas | Previous percentage | New percentage |
| Financial Statement Analysis | 25% | 20% |
| Corporate Finance | 20% | 20% |
| Decision Analysis | 20% | 25% |
| Risk Management | 10% | 10% |
| Investment Decisions | 15% | 10% |
| Professional Ethics | 10% | 15% |
In the above table, we came to see that there is a change of 5% only in Financial Statement Analysis, Decision Analysis, Investment decisions and Professional Ethics with addition of new content areas. Rest have all remained unchanged.
US CMA 2020 Part 1 New Content Index -Technology and Analytics
| Sr No | Particulars | Time (hrs:min:secs) |
|---|---|---|
| F | Section F: Technology and Analytics | 9:01:41 |
| 1 | Information System | 2:05:28 |
| 1 | Introduction | 2:17 |
| 2 | Accounting Information System | 16:43 |
| 3 | AIS in Value Chain | 7:51 |
| 4 | AIS Cycle | 5:41 |
| 5 | Revenue Cycle | 4:05 |
| 6 | Expenditure and Production Cycle | 4:29 |
| 7 | Other Business Cycle | 6:29 |
| 8 | Quiz | 6:58 |
| 9 | Challenges of Financial and Non Financial System | 5:40 |
| 10 | Enterprise Resource Planning | 12:26 |
| 11 | Database Management System | 24:27:00 |
| 12 | Quiz | 4:12 |
| 13 | Enterprise Performance Management | 6:21 |
| 14 | Final Quiz | 10:04 |
| 15 | Summary | 7:45 |
| 2 | Data Governance | 2:01:28 |
| 1 | Introduction | 10:46 |
| 2 | COBIT by ISACA | 20:58 |
| 3 | Data Governance | 10:26 |
| 4 | Quiz | 6:14 |
| 5 | Stages of Data Life Cycle | 10:26 |
| 6 | Record Retention Policy | 9:37 |
| 7 | Quiz | 4:53 |
| 8 | Cyber Attacks | 12:01 |
| 9 | Controls for Cyber Attack | 22:24 |
| 10 | Final Quiz | 7:45 |
| 11 | Summary | 5:58 |
| 3 | Finance Transformation | 0:55:23 |
| 1 | Introduction | 2:55 |
| 2 | System Development life Cycle | 4:54 |
| 3 | Business Process Analysis | 11:00 |
| 4 | Robotic Process Automation | 11:24 |
| 5 | Artificial Intelligence | 14:52 |
| 6 | Cloud Computing | 21:10 |
| 7 | IaaS,PaaS & SaaS | 6:15 |
| 8 | Quiz | 8:31 |
| 9 | Blockchain | 14:36 |
| 10 | Smart Contracts | 5:02 |
| 11 | Final Quiz | 8:28 |
| 12 | Summary | 6:16 |
| 4 | Data Analytics | 2:59:22 |
| 1 | Introduction | 11:13 |
| 2 | Big Data | 9:20 |
| 3 | Attributes of Big Data | 7:13 |
| 4 | Relevance of Data | 14:26 |
| 5 | Data - a strategic asset | 11:07 |
| 6 | Quiz | 5:44 |
| 7 | Progression - from data to wisdom | 6:45 |
| 8 | Advantages and Challenges of Data Analytics | 7:14 |
| 9 | Business Intelligence | 10:40 |
| 10 | Data Mining | 9:53 |
| 11 | Process of Data Mining | 10:41 |
| 12 | Challenges of Data Mining | 6:47 |
| 13 | Structured Query Language(SQL) | 6:25 |
| 14 | Quiz | 5:53 |
| 15 | Analytical tools | 11:08 |
| 16 | Approaches to Understand Risk | 15:03 |
| 17 | Visualisation | 15:06 |
| 18 | Final Quiz | 8:08 |
| 19 | Summary | 6:36 |
US CMA 2020 Part 2 New Content Index - Professional Ethics
| Sr No | Particulars | Time (hrs:min:secs) |
|---|---|---|
| Business Ethics | 0:42:13 | |
| 1 | Introduction | 7:53 |
| 2 | Virtue vs Morality | 6:7 |
| 3 | Moral Philosophies | 12:35 |
| 4 | Factors Impacting Ethical Decision Making | 7:53 |
| 5 | Quiz | 4:44 |
| 6 | Summary | 3:1 |
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