The Certified Management Accountant (CMA) designation is a course regarding management accounting and financial management.
The Institute of Cost and Management Accountants of India (ICMAI) offers the Certified Management Accountant (CMA) credential, and it denotes expertise in business finance and management accounting. The CMA course offers three levels – CMA Foundation, CMA Intermediate, CMA Final.
The certification validates that the individual knows and understands a wide range of management accounting areas like financial planning, financial analysis, financial control, financial and managerial decision-making, and professional ethics, among other things.
Since the certification is considered prestigious across the country, it is no surprise that it is a tough nut to crack. Therefore, we will discuss some quick tips to help you ace theCMA foundation exam on the first attempt.
How to Crack CMA Foundation – Tips
1. Make sure the strategy is feasible: I have suffered countless times due to a lack of proper scheduling because my plans would always be superficial since I would overestimate myself.
Therefore, we must understand that creating an effective study plan requires time, effort and an understanding of our own time.
Having a well-thought-out plan ensures that you don’t fall behind close to the exam and that you cover all of the crucial CMA exam topics.
2. Specific, Measurable, Attainable, Relevant, and Time-bound (SMART) Technique:
Following the SMART methodology is one way to ensure that your plan is effective. The SMART method ensures that the chosen plan or objective is a high priority among all your goals. The SMART technique requires you to make your goals based on the following characteristics –
Specific: Goals should be precise and to-the-point
Measurable: Your progress towards your goal should be quantifiable. For example, my goal should not be to cover some syllabus of subject X but to cover 3 of its chapters. Following this technique, I could successfully evaluate if I completed the goal at the end of my deadline.
Achievable: “I’ll complete the entire course today!” Of course, that sounds ridiculous! So make sure that your goals are attainable.
Realistic: Like achievable, goals should be realistic and relevant to your preparation. Just because your friend completed subject X first doesn’t mean you should too. Evaluate which areas make more sense to focus on and make them your short-term goal.
Timely: As stated in the first point, ensure that your schedule allows appropriate time for important tasks. But while you are at it, don’t be too relaxed either. Make a timeline that would push you to achieve your goals but, at the same time, won’t overwork you. The purpose is to create urgency.
3. Test yourself repeatedly: Often, we only practise to the extent of our course books. We forget that we also need to practise how to take a test.
By practising in a setting similar to an exam, you can better prepare yourself to deal with exam-day stress. By taking an ample number of mock exams and sample papers, you can familiarise yourself with the language used in the exam. It ensures that you do not fall behind because of language jargon.
Our body also adapts to focusing on the test for a certain number of hours as we consciously train ourselves to take tests in a mock exam environment. As a result, our attention gets undivided, and we focus completely on the examination.
4. Engage your brain when studying: Repeatedly going through the course material can be mentally draining over time. Here are a few ways to get your brain to work for you:
Make a list of the book’s most important sections.
For easy access, scribble notes in the margins or create flashcards.
Determine your preferred technique of learning. Whether it’s visual, or auditory, or kinaesthetic, there’s something for everyone.
5. Don’t act too fast: Multiple choice questions are most commonly tested for essential concepts, definitions and terms. Don’t be quick to select an answer. Rephrase the question to your understanding to make it less confusing. Then think about it before you choose a response.
6. Ensure to use the right materials: Knowledge is a long-term investment rather than a one-time expense. The money you spend on this certification will get repaid over time as you advance in your job.
But it is integral to absorb the appropriate knowledge as you prepare for the exam. We always try to take the easy way out and think of shortcuts to dodge the syllabus. But the percentage of pupils passing using such shortcuts is relatively low.
I’ve seen students using materials that are 4-5 years old without recognising that the syllabus has changed twice in the last four years. Next, you must ensure that when you choose the resources materials, you purchase the software that includes a question bank.
7. Register in advance for your exam: It is usually a good idea to register for exams ahead of time. This relaxes you from unneeded stress and further benefits you in the following two ways –
You get to choose the date of your choice. Some students prefer to take the exam at the end of the window, and registering ahead of time will assist you in doing so. If you register late, Prometric exam slots may become unavailable. As such, you’d have to apply to different cities than your home city, which could have been prevented with forward planning.
Having a firm deadline gives you the required pressure you need to prepare for the exam and helps you stay on track.
8. A healthy mind to crack exam: This is a critical issue; you must understand that every student who takes an exam is under pressure, and the better you handle the strain, the more likely you are to pass the exam. A pleasant and calm mindset will help you do better on the exam. Keep the following in mind:
Make sure you get adequate sleep the night before the exam.
The food you consume (not too heavy), the clothes you wear (comfortable but not too tight), all of these things matter during your exam preparation and on the exam day.
We hope you find these tips useful and you are ready to crack your exam on the very first attempt – All the best!
Prepare now for CMA Foundation Exams with our CMA Foundation Coaching online classes right from your home.
Here, at Takshila Learning, we offer CMA Foundation, CMA Inter, and CMA Final Video Lectures and CMA Foundation Pen drive Classes with CMA Foundation Study Material to help you in CMA Foundation Exam Preparation.
Tag – cma foundation exam preparation; cma foundation exam tips; cma foundation subjects; cma foundation study materials; Tips to Crack CMA Foundation in 1st Attempt; CMA Foundation exam tips; How to Crack CMA Foundation;