CMA P1 - Financial Planning, Performance, and Analytics 2026

What Is a Certified Management Accountant (CMA)?

Certified management accountant (CMA) is an accounting designation that signifies expertise in financial accounting and strategic management. The professionals who obtain this designation are colloquially known as CMAs and are qualified for a variety of roles ranging from financial controller to chief financial officer (CFO). It is also issued by the Institute of Management Accountants (IMA), builds on financial accounting proficiency by adding management skills that aid in making strategic business decisions based on financial data.

The CMA Program consists of Two Exam Parts Covering 12 Competencies

CMA Part 1: Financial Planning, Performance, and Analytics

(4 hours – 100 questions and 2 essay questions)

15% External Financial Reporting Decisions
20% Planning, Budgeting, and Forecasting
20% Performance Management
15% Cost Management
15% Internal Controls
15% Technology and Analytics

CMA Part 2: Strategic Financial Management

(4 hours – 100 questions and 2 essay questions)

20% Financial Statement Analysis
20% Corporate Finance
25% Business Decision Analysis
10% Enterprise Risk Management
10% Capital Investment Decisions
15% Professional Ethics

The 12 subjects of the CMA Program are designed and built on the foundation of 12 necessary competencies for a professional Management Accountant to contribute to value creation and value protection for businesses.

The three levels of coverage can be defined as follows:

Level A: Requiring the skill levels of knowledge and comprehension.

Level B: Requiring the skill levels of knowledge, comprehension, application, and analysis.

Level C: Requiring all six skill levels of knowledge, comprehension, application, analysis, synthesis, and evaluation.