IMA CMA-Financial-Planning-Performance-and-Analytics Q&A - in .pdf

  • CMA-Financial-Planning-Performance-and-Analytics pdf
  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
  • Updated: Aug 31, 2026
  • Q & A: 112 Questions and Answers
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  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
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  • Q & A: 112 Questions and Answers
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  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
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  • Q & A: 112 Questions and Answers
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IMA CMA-Financial-Planning-Performance-and-Analytics Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: External Financial Reporting Decisions15%- Recognition, Measurement, Valuation and Disclosure
  • 1. Liability valuation
    • 2. Equity transactions
      • 3. U.S. GAAP vs IFRS differences
        • 4. Asset valuation
          • 5. Income measurement
            • 6. Revenue recognition
              - Financial Statements
              • 1. Integrated reporting
                • 2. Statement of changes in equity
                  • 3. Statement of cash flows
                    • 4. Income statement
                      • 5. Balance sheet
                        Topic 2: Internal Controls15%- System Controls and Security
                        • 1. Data security and backup
                          • 2. General and application controls
                            • 3. Business continuity planning
                              - Governance, Risk and Compliance
                              • 1. Internal control procedures
                                • 2. Internal control frameworks (COSO)
                                  • 3. Risk assessment and management
                                    Topic 3: Performance Management20%- Responsibility Centers and Reporting Segments
                                    • 1. Transfer pricing
                                      • 2. Cost, profit and investment centers
                                        • 3. Segment reporting
                                          - Performance Measures
                                          • 1. Economic Value Added (EVA)
                                            • 2. Return on Investment (ROI)
                                              • 3. Residual Income (RI)
                                                • 4. Balanced Scorecard
                                                  - Cost and Variance Measures
                                                  • 1. Mix and yield variances
                                                    • 2. Static and flexible budget variances
                                                      • 3. Material, labor and overhead variances
                                                        Topic 4: Planning, Budgeting and Forecasting20%- Strategic Planning
                                                        • 1. Strategic planning process and analysis
                                                          - Budgeting Concepts and Methodologies
                                                          • 1. Zero-based and rolling budgets
                                                            • 2. Activity-based budgeting
                                                              • 3. Operating and financial budgets
                                                                • 4. Flexible budgets
                                                                  - Forecasting Techniques
                                                                  • 1. Expected value
                                                                    • 2. Learning curve analysis
                                                                      • 3. Time series analysis
                                                                        • 4. Regression analysis
                                                                          - Pro Forma Financial Statements
                                                                          Topic 5: Cost Management15%- Overhead Costs
                                                                          - Supply Chain and Business Process Improvement
                                                                          - Costing Systems
                                                                          • 1. Process costing
                                                                            • 2. Job order costing
                                                                              • 3. Activity-based costing
                                                                                • 4. Joint and by-product costing
                                                                                  - Measurement Concepts
                                                                                  • 1. Actual, normal and standard costs
                                                                                    • 2. Absorption vs variable costing
                                                                                      • 3. Cost behavior
                                                                                        Topic 6: Technology and Analytics15%- Data Governance
                                                                                        • 1. Data security policies
                                                                                          • 2. Data quality and integrity
                                                                                            - Technology-Enabled Finance Transformation
                                                                                            - Information Systems
                                                                                            • 1. Enterprise Resource Planning (ERP)
                                                                                              • 2. Financial systems architecture
                                                                                                - Data Analytics
                                                                                                • 1. Big data concepts
                                                                                                  • 2. Data visualization
                                                                                                    • 3. Predictive and prescriptive analytics

                                                                                                      IMA CMA Part 1: Financial Planning - Performance and Analytics Sample Questions:

                                                                                                      Question 1

                                                                                                      Explain whether ZFI's current overhead allocation method is appropriate.
                                                                                                      Essay
                                                                                                      Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).

                                                                                                      ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
                                                                                                      Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
                                                                                                      ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
                                                                                                      In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.
                                                                                                      Time Value Table


                                                                                                      Question 2

                                                                                                      A company has two service departments Security and Human Resources and two operating departments Assembly and Finishing Cost data for these departments are shown below

                                                                                                      To determine the full costs of conducting Business m the operating departments the company allocates service department costs to the operating departments Security costs are allocated based on the number of employees and Human Resources costs are allocated based on the number of Human Resources hours used using the step-down method, what amount of Security costs would be allocated to the Assembly department?

                                                                                                      A. $20,000.
                                                                                                      B. $13,333.
                                                                                                      C. $12,727.
                                                                                                      D. $18,773.


                                                                                                      Question 3

                                                                                                      Which statement below best describes the relationship among a company's organizational structure, policies.
                                                                                                      objectives and the effectiveness of the control environment?

                                                                                                      A. The policies, organizational structure, and objectives set the foundation tor the internal control components and provide discipline and structure
                                                                                                      B. The control activities have more influence on the control environment than the organizational structure policies and objectives
                                                                                                      C. Management can determine the organizational structure, policies and objectives to create the control environment after the risks are identified
                                                                                                      D. The control environment often Is completely Independent and distinct from the organizational structure policies. and objectives


                                                                                                      Question 4

                                                                                                      Life-cycle costing is most effective when used with products that have a

                                                                                                      A. short development period and many costs Incurred during manufacturing
                                                                                                      B. long development period and many costs incurred during manufacturing
                                                                                                      C. long development period and many costs incurred poor to manufacturing
                                                                                                      D. short development period and few costs incurred poor to manufacturing


                                                                                                      Question 5

                                                                                                      What is ZF's expected variable overhead cost per pound of food produced? Snow your calculations Essay Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).

                                                                                                      ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
                                                                                                      Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
                                                                                                      ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
                                                                                                      In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.


                                                                                                      Solutions:

                                                                                                      Question 1
                                                                                                      Answer: Only visible for members
                                                                                                      Question 2
                                                                                                      Answer: D
                                                                                                      Question 3
                                                                                                      Answer: A
                                                                                                      Question 4
                                                                                                      Answer: C
                                                                                                      Question 5
                                                                                                      Answer: Only visible for members

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