By now, you have taken the decision of pursuing CMA US for your career move and getting familiar with the syllabus, exam pattern etc. When deciding which part of the CMA (Certified Management Accountant) US exam to take first, it depends on your background, study preferences, and strategic approach. Here is a breakdown of the factors to consider:
Part 1: Financial Planning, Performance, and Analytics
If you want to choose Part 1 to start with, consider the main points cited below.
Content: Focuses on cost management, budgeting, internal controls, and performance management.
Ideal For: Candidates with a strong background in financial accounting, cost accounting, or operational finance may find this part more straightforward.
Difficulty: Some candidates find Part 1 more challenging due to its technical and detailed nature in financial management and analytics.
Part 2: Strategic Financial Management
Want to start with P2 first? Consider the following:
Content: Covers financial statement analysis, corporate finance, decision analysis, risk management, and investment decisions.
Ideal For: Candidates with experience or interest in corporate finance, investment, and strategic decision-making might feel more comfortable starting with this part.
Difficulty: Part 2 is often considered less technical but more conceptual, focusing on financial analysis and strategic management.
Key Considerations:
Your Strengths: If you have a stronger foundation in operational finance and analytics, start with Part 1. If you are more comfortable with strategy and decision-making, consider starting with Part 2.
Momentum: Some candidates prefer to start with the easier part (as per their strengths) to build confidence and momentum for the second part.
Scheduling: Look at your personal schedule and how much time you have to devote to studying. Part 1 typically requires more in-depth preparation, so if you have more time upfront, it might be a good place to start.
General Advice:
No Right or Wrong Answer: Both parts are challenging, and there’s no universally correct order. Choose the one that aligns best with your strengths and circumstances.
Practice Exams: Consider taking a few practice questions from both parts to assess which one feels more approachable for you.
Customized Advice:
If you are a B. Com student, you will find yourself familiar with Cost accounting, External Financial Accounting which are the topics in Section A of the CMA US Part 1 syllabus. Hence, for college students, starting with P1 will be advantageous. On the other hand, working professionals might feel more comfortable with corporate finance, financial strategy which are components of the CMA US part 2 exam syllabus. Since the contents of Part 2 can be more familiar in application of management accounting in real-time work experiences, it can appear advantageous for the working professionals to start with the Part 2 CMA US exam first.
Summary:
Ultimately, the choice depends on your personal comfort level with the material and how you want to structure your study plan. Based on the academic background, experience, and intention, you can start with any part of the CMA US exam at your suitable confidence level. Taking this in mind, Uplift Professionals, a leading CMA US training institute, provides continuous rotational live online classes of both the parts alternatively where the students have unlimited access to such classes till they pass.
For Further Information/Assistance, Contact Us.
Additionally, we invite you to explore our other blogs covering various topics related to the CMA:
Re-Attempting for CMA US – How to Build Strategy and Combat Mental Pressure?
The CMA US Exam: How it is Graded?
Why Should You Pursue CMA US Simultaneously with Your B.Com Course?
How CMA US Can Uplift Your Accounting Career?
Navigating the Eligibility Criteria for the CMA US Exam: What You Need to Know
The Ultimate Guide to Certified Management Accountant (CMA US) Registration: Steps and Tips
Balancing Work, Life and US CMA Exam Preparation: Practical Advice
The Future of Management Accounting: How the US CMA Credential is Evolving
Women in Management Accounting: Breaking the Glass Ceiling with US CMA