Key Takeaways
- Six content domains: External Reporting (15%), Planning/Budgeting (20%), Performance Management (20%), Cost Management (15%), Internal Controls (15%), Technology/Analytics (15%).
- Technology and Analytics weight has increased significantly to reflect modern data-driven decision making.
- MCQ section: 3 hours for 100 questions; Essay section: 1 hour for 2 scenarios.
- Must score at least 50% on MCQs to unlock the essay section.
- Essays test written communication and application of concepts to real scenarios.
Last updated: January 2026
Exam Structure and Content Breakdown
The CMA Part 1 exam is divided into two sections: multiple-choice questions and essays. Understanding the exact breakdown of content areas helps you allocate study time effectively.
Content Domain Weights (2024 Update)
| Domain | Weight | Description |
|---|---|---|
| External Financial Reporting Decisions | 15% | GAAP, IFRS, financial statement preparation |
| Planning, Budgeting, and Forecasting | 20% | Budgeting processes, forecasting, strategic planning |
| Performance Management | 20% | Variance analysis, KPIs, responsibility accounting |
| Cost Management | 15% | Costing methods, cost behavior, CVP analysis |
| Internal Controls | 15% | Risk management, compliance, audit processes |
| Technology and Analytics | 15% | Data analytics, visualization, emerging technologies |
Recent Change: The Technology and Analytics domain has been significantly updated to include AI, blockchain, predictive analytics, and business intelligence tools.
Section 1: Multiple-Choice Questions (3 hours)
| Aspect | Details |
|---|---|
| Total Questions | 100 multiple-choice |
| Scored Questions | 90 (10 are unscored pilot questions) |
| Time Allotted | 3 hours (180 minutes) |
| Passing Requirement | Must answer at least 50% correctly to access essays |
| Score Weight | 75% of total exam score |
Question Types
- Recall questions: Direct knowledge testing
- Application questions: Applying concepts to scenarios
- Analysis questions: Interpreting data and making decisions
Section 2: Essay Questions (1 hour)
| Aspect | Details |
|---|---|
| Total Scenarios | 2 essay scenarios |
| Sub-questions per Scenario | 5-7 each |
| Time Allotted | 1 hour (60 minutes) |
| Score Weight | 25% of total exam score |
Essay Scoring Criteria
- Content accuracy - Correct application of concepts
- Written communication - Clear, organized responses
- Completeness - Addressing all parts of the question
- Professional format - Appropriate business writing style
Content Domain Details
Domain 1: External Financial Reporting Decisions (15%)
Topics include:
- Financial statement preparation under GAAP and IFRS
- Revenue recognition (ASC 606)
- Lease accounting (ASC 842)
- Inventory valuation methods
- Fixed asset accounting and depreciation
- Financial statement analysis and ratios
Domain 2: Planning, Budgeting, and Forecasting (20%)
Topics include:
- Strategic planning concepts
- Budgeting methodologies (static, flexible, rolling, zero-based)
- Forecasting techniques (qualitative and quantitative)
- Pro forma financial statements
- Annual profit planning
- Top-down vs. bottom-up budgeting
Domain 3: Performance Management (20%)
Topics include:
- Variance analysis (flexible budget variances, sales variances)
- Responsibility centers (cost, profit, investment centers)
- Transfer pricing
- Key performance indicators (KPIs)
- Balanced scorecard
- Benchmarking and performance measurement
Domain 4: Cost Management (15%)
Topics include:
- Cost concepts and classifications
- Job-order and process costing
- Activity-based costing (ABC)
- Cost-volume-profit (CVP) analysis
- Relevant costing for decision making
- Supply chain management
Domain 5: Internal Controls (15%)
Topics include:
- Internal control frameworks (COSO)
- Enterprise risk management
- Internal audit function
- Compliance and governance
- Fraud prevention and detection
- Information systems controls
Domain 6: Technology and Analytics (15%)
Topics include:
- Data governance and management
- Business intelligence and dashboards
- Predictive analytics and modeling
- Data visualization best practices
- Emerging technologies (AI, blockchain, RPA)
- Cybersecurity and data privacy