The two CMA exam parts test very different skill sets. Part 1, “Financial Planning, Performance, and Analytics,” is the more technical, mechanics-heavy half — you’ll work through external reporting, planning and budgeting, performance management, cost management, internal controls, and technology and analytics. Expect a lot of calculations, variances, and cost behavior. Part 2, “Strategic Financial Management,” shifts into the bigger picture — financial statement analysis, corporate finance, decision analysis, risk management, investment decisions, and professional ethics. Part 2 still has math, but it leans more on judgment and interpretation. Both are four-hour exams with 100 multiple-choice questions and two case-based questions, and they can be taken in either order — a decision worth thinking through before you register.
