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CMA Part 2: Part 2: Strategic Financial Management
Financial statement analysis, corporate finance, decision analysis, risk management, investment decisions, and professional ethics. For the English CMA exam in the Middle East, the four-hour format has 100 multiple-choice questions followed by two case-based questions from the September/October 2026 window. Format availability differs in China, Taiwan (China), and Japan; check IMA’s current guidance for your test location and language.
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CMA Exam
Joint Cost Allocation: Physical Units, Sales Value at Split-Off, NRV and Constant Gross Margin, and Where the By-Product Goes
A joint process turns one cost into several products, and no allocation of that cost is true, only consistent. Physical units, sales value at split-off, net realisable value and constant gross margin, worked on one split-off so the same joint cost lands four different ways, then the two treatments of a by-product and what IAS 2 actually says, for CMA Part 1 and SOCPA's Management and Governmental Accounting paper.
CMA Exam
COSO Internal Control vs COSO ERM: 17 Principles for Controls, 20 for Risk and Strategy, and Neither Framework Replaces the Other
COSO publishes two frameworks with five components each, and says neither supersedes the other: one asks whether controls achieve operations, reporting and compliance objectives, the other whether risk is weighed when strategy is set and carried out. The two side by side, component for component, with the older eight-component ERM cube the CMA's learning outcomes still name, and how CMA Parts 1 and 2, BAR and AUD test them, while CIA Part 1 tests the same concepts without naming either.
CMA Exam
Relevant Costing: Make or Buy, Special Orders, and the Costs That Change the Answer
A special order below full cost can increase profit, while one above variable cost can destroy it. Worked examples show how capacity, avoidable fixed costs and opportunity costs decide special orders, make-or-buy decisions, further processing and segment closures.