CMA考试解读
CMA考试重点
First, the positioning in the market will be that of an advanced certification. The essence of the CMA brand will be the professional certification in financial planning, analysis, control and decision support. The certification will be a validation of mastery in the skills of finance team members.
Second, the target market for the CMA is two-fold: individuals and employers. The targeted individuals are those who want to differentiate themselves and/or recognize they need to continuously improve their skills. This could be accounting experts who want to certify their competence in or develop additional competence in finance skills, or finance experts who want to certify their competence in or develop additional competence in accounting skills. The targeted employers are those who understand the need to continuously improve the skills within their finance and accounting team.
Third, the CMA Exam has totally 2-part exam, focusing on financial planning, analysis, control and decision support.
第一，CMA的市场定位是高端的职业资格证书。CMA的品牌定位是在金融企划、分析、控制和决策支持方面的专业资格证书,证书获得者可以被视为金融团队中专业老师级的财经专才。
第二，CMA的目标市场即是对准两个范畴，即个人和雇主。个人目标市场是指那些志在使个人专业能力脱颖而出和有不懈的进取精神的专业人士。这些人士可以是会计人才但是又想在财经领域得到进一步提升并取得专业认证的人士或者是财经人士想在会计领域获得更强竞争力的人士。雇主目标市场是指那些已经认识到在金融和会计团队中要不断提高竞争力的人群。
第三， CMA考试分为2个部分的考核，集中关注在金融企划、分析、控制和决策支持领
CMA考试内容陈列与分析
一、第一部分内容
1、Planning, Budgeting and Forecasting: （企划、预算和预测）
Top-level planning and analysis （高层企划和分析）
d. Pro forma income （预测收入）
e. Financial statement projections （财务报表预测）
f. Cash flow projections （现金流预测）
2、Internal Control:（内部控制）
d. COSO Internal Control Framework （COSO内部控制框架）很新的内容！二、第二部分内容
Part 2 Financial Decision Making
1、Financial Statement Analysis:（财务报表分析）
Analytical Issues in Financial Accounting
a. Impact of foreign operations （海外运作的影响）
c. Off-balance sheet financing （资产负债表的表外阐述）
d. Cash Flow Statement reconciliation to Income Statement （现金流量表和损益表的呼应）从难度上比现在的CMA大！e. Impact of changes in accounting treatment （财务政策变化的影响）
f. International Financial Reporting Standards (IFRS)
g. Fair value accounting （公允会计）
分析：将财务会计内容与CMA中的财务报表分析内容相结合。体现出了CMA考试的财务会计内容的难度和有效度,财务报表分析是CMA考试（第二部分）中作重点考核内容。2、Corporate Finance:（企业金融）
Corporate Finance, Raising Capital:（企业金融和融资）
a. Lease financing （租赁融资）
分析：IMA将注册会计师考试的核心内容纳入CMA考试范畴，意在增强管理会计师在会计领域的综合竞争实力。Corporate restructuring（企业重组）
a. Mergers and acquisitions (企业并购)
b. Divestitures （金融衍生物）很新的内容！
c. Bankruptcy （破产法）很新的内容！
3、Decision Analysis and Risk Assessment:（决策分析和风险评估）
分析：这个部分内容是在现有的CMA考试大纲内容的高幅提升，学员将会遇到大量计算题和Level C难度的分析题。Risk assessment （风险评估）
a. Risk identification and exposure
b. Physical assets, financial assets, and legal liability
c. Definition and scope of operational risk
d. Process, people, system, event and business risks
e. Risk mitigation strategies
f. Enterprise Risk ManagementInvestment Decisions:（投资决策）
Valuation（估值）
a. Discounted cash flow models
b. Multiples models
c. Valuation for acquisitions and divestitures
d. Discount rates
分析：总体来说，这部分内容主要体现了分析上的考核难度，论述题的可能性较大。另外，熟练掌握各model之间的区别也应是IMA考核的重点。三、Ethics:（商业道德）
Ethical considerations for the organization
d. Provisions of the U.S. Foreign Corrupt Practices Act
e. Provisions of IMA’s Statement on Management Accounting, “Values and Ethics: From Inception to Practice”
分析：从当前全球金融环境发生巨大变化的大环境来看，IMA显然比较重视该考核内容，其中不乏实际案例分析和论述。希望考生平时多关注相关内容的评述和增加与上财学员的讨论和沟通。
