The complete CMA exam syllabus for both Part 1 and Part 2 — with topic weightage, key concepts, and study guidance from London Institute of Financial Studies (LIFS) Dubai.
Financial Planning, Performance & Analytics
| Topic | Weight | Key Concepts |
|---|---|---|
| External Financial Reporting Decisions | 15% | Financial statements, revenue recognition, inventory, long-term assets, investments, and leases under US GAAP and IFRS. |
| Planning, Budgeting & Forecasting | 20% | Strategic planning, budgeting concepts, annual profit plans, project management, and forecasting techniques. |
| Performance Management | 20% | Cost and variance analysis, responsibility centres, performance measures, and balanced scorecard. |
| Cost Management | 15% | Measurement concepts, costing systems, overhead costs, supply chain management, and business process improvement. |
| Internal Controls | 15% | Governance, risk, internal audit, systems controls, and fraud prevention. |
| Technology & Analytics | 15% | Information systems, data governance, technology-enabled finance, and data analytics. |
Exam format: 4 hours | 100 MCQs (75%) + 2 Essay Questions (25%) | Passing score: 360/500
Strategic Financial Management
| Topic | Weight | Key Concepts |
|---|---|---|
| Financial Statement Analysis | 20% | Basic financial statement analysis, financial ratios, profitability analysis, and special topics. |
| Corporate Finance | 20% | Risk and return, long-term financial management, raising capital, working capital management, and mergers & acquisitions. |
| Decision Analysis | 25% | Cost-volume-profit analysis, marginal analysis, make-or-buy decisions, and pricing. |
| Risk Management | 10% | Enterprise risk management, risk identification, risk assessment, and risk mitigation. |
| Investment Decisions | 10% | Capital budgeting, discounted cash flow analysis, payback, and risk analysis in capital investment. |
| Professional Ethics | 15% | Business ethics, IMA Statement of Ethical Professional Practice, and fraud and the legal environment. |
Exam format: 4 hours | 100 MCQs (75%) + 2 Essay Questions (25%) | Passing score: 360/500
Our graduates work at

Real results from real professionals
"The CMA program at LIFS was a game-changer. The structured curriculum and Pass-Assure guarantee gave me confidence. Passed both parts on the first attempt!"
"Combining CMA with IFRS opened doors I didn't know existed. Within 3 months of certification, I got promoted and a 40% salary increase."
"The UAE Corporate Tax module was incredibly practical. Real filing exercises, real case studies. I felt job-ready from day one after completion."