The management accounting certification is not difficult because any single topic is obscure. It is difficult because the two parts together cover financial reporting, planning, performance, cost, corporate finance, decision analysis and ethics, and a candidate studying around a full-time job forgets the first area while learning the fourth. The CMA Exam Support Package 2020 exists for that problem: a large body of practice organized by content area, so revision can be aimed rather than simply repeated.
Why this practice set helps
Reading a study text produces recognition, and recognition collapses the moment an idea is presented in unfamiliar words. Questions do something different: they force a decision and then tell you which principle decided it. Each item here is followed by reasoning that names the concept — the variance being isolated, the ratio being decomposed, the control objective at stake — so a weak content area announces itself instead of hiding behind a page you have already read four times.
What’s inside
- Practice questions grouped by the published content areas rather than shuffled together.
- A written explanation under every question, stating the principle that decides the answer.
- Coverage across both parts, from external reporting and cost management to finance, decision analysis and ethics.
- Computational items with the working shown, alongside conceptual and definitional questions.
- One organized PDF, downloadable the moment checkout completes.
Topics covered
- External financial reporting — statement preparation, measurement bases and disclosure requirements.
- Planning, budgeting and forecasting — the master budget, forecasting techniques and top-level planning.
- Performance management — responsibility centres, variance analysis and balanced performance measures.
- Cost management — job, process and activity-based costing, overhead allocation and joint cost issues.
- Internal controls and technology — control frameworks, systems risk, data governance and analytics.
- Financial statement analysis — liquidity, leverage and profitability measures and the drivers behind each.
- Corporate finance — cost of capital, capital structure and discounted cash flow techniques.
- Decision analysis, risk and ethics — relevant costing, pricing, risk response and professional conduct.
Who it’s for
Candidates preparing for the management accounting certification alongside work, and students on a management accounting course who want structured practice across both parts in a single file.
How to use it (the right way)
Study the content area first, then attempt a block of questions closed-book and roughly timed, because timing is a large part of this assessment. Score by content area rather than overall, and send your weakest area back to the study material instead of straight back to more questions. This is a study aid, to be used in line with your program’s academic-integrity policy, as support for your own preparation rather than a replacement for it.
Sample question (shows the format — your download contains the full set)
Q. A company reports a net profit margin of 5 percent, asset turnover of 2.0 times and an equity multiplier of 1.5. Using the three-factor decomposition, what is its return on equity?
- A. 7.5 percent
- B. 10 percent
- C. 15 percent
- D. 30 percent
Answer: C. Return on equity is the product of the three factors: a 5 percent margin times 2.0 turnover gives a 10 percent return on assets, and multiplying by the 1.5 equity multiplier gives 15 percent. B stops at return on assets and ignores leverage entirely. A divides by the multiplier rather than multiplying, and D would require a 10 percent margin. The value of the decomposition is that two firms can report the same return on equity for entirely different reasons — margin, efficiency or leverage — and that is what this style of question is testing.
Edition & format
- Covers: the Part 1 and Part 2 content areas of the management accounting certification, as organized in the 2020 support package.
- Format: Digital PDF, delivered instantly after checkout.
- Access: Lifetime — re-download from your account at any time.
Certification content areas are revised periodically. Please confirm this material lines up with the syllabus you are studying before you buy.
Frequently asked questions
Which content areas does this cover? Both parts of the syllabus as organized in the 2020 package, from external reporting and cost management through to corporate finance, decision analysis and ethics.
How do I receive it? As an immediate download when checkout completes, and the file stays in your account for repeat access.
Do the questions include explanations? Yes. Each item is followed by written reasoning that names the principle behind the answer rather than simply confirming a letter.
Is using a practice question set allowed? It is an ordinary revision resource. Use it in line with your program’s academic-integrity policy and never take it into an assessment.
See more study material for this subject in Accounting Test Banks.
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