When it comes to studying for the CMA USA exam in 2024, choosing the right study materials is critical to success. The following list highlights the top 5 CMA books and study resources, each tailored to different learning styles and preferences.
Before we get into these recommended resources, let's take a look at the CMA USA exam syllabus and its subject pеrcentage brеakdown:
Part 1: Financial Planning, Performance, and Analytics
External Financial Reporting Decisions: 15%
Planning, Budgeting, and Forecasting: 20%
Performance Management: 20%
Cost Management: 15%
Internal Controls: 15%
Technology and Analytics: 15%
Part 2: Strategic Financial Management
Financial Statement Analysis: 20%
Corporate Finance: 20%
Decision Analysis: 25%
Risk Management: 10%
Investment Decision: 10%
Professional Ethics: 15%
It should be noted that the IMA (Institute of Management Accountants), which administers the CMA USA exam, does not provide its own study material. As a result, candidates frequently rely on third-party companies for their study materials, which have all been verified by IMA. Becker, Wiley, Hock, Gleim, and other reputable companies are among these, each with its own set of advantages and disadvantages. Choosing the right study material can be difficult.
iProledge recommends the following options to help you choose the best study materials for your CMA USA exam preparation in 2024:
1. Becker US CMA Review System
Reputation: Becker is a well-known name in the accounting education industry, best known for its CPA study materials. Their educational resource expertise and quality are well-established.
One-on-One Tutoring: Becker provides one-on-one tutoring, which can be extremely beneficial for candidates who require personalized help or have specific questions. This level of individual assistance can help with comprehension and planning.
Live Webinars: The inclusion of live webinars allows candidates to interact with instructors and peers in interactive sessions, fostering a deeper understanding of the material.
New CMA Materials: Becker's CMA study materials are new on the market. This implies that they may not have a long track record of success when compared to other providers who have been providing CMA study resources for a longer period of time.
Limited Track Record: Because their CMA materials are still in development, there may be limited feedback or reviews available from previous candidates, making it difficult to assess their effectiveness and dependability.
Cost: Becker's CMA Review System is more expensive than some other options. Some candidates, particularly those on a tight budget, may be put off by the higher cost.
The Becker US CMA Review System benefits from the Becker brand's strong reputation in accounting education and provides personalized support via one-on-one tutoring and live webinars. However, given the newness of their CMA materials and the higher cost, some candidates may be hesitant to choose this option. Candidates must carefully weigh these pros and cons to determine whether Becker's CMA materials meet their specific needs and preferences.
2. Wiley US CMA Review System
Detailed and Comprehensive Study Material: Wiley's CMA Review System is well-known for its comprehensive study material. As a result, it is an excellent choice for candidates who prefer self-study and want a thorough understanding of the CMA exam topics.
Clear and Understandable Language: Wiley uses simple, easy-to-understand language. This is especially beneficial for individuals who are unfamiliar with finance and management concepts, as it simplifies the learning process.
Questionnaires, Performance Tracker, and Study Planner: Wiley's study package includes useful extras such as questionnaires, a performance tracker, and a study planner. These tools can assist candidates in assessing their progress, identifying areas for improvement, and effectively structuring their study schedule.
Wiley's Predictive Scoring Technique: The addition of a predictive scoring technique by Wiley can increase candidates' confidence in their preparation. It assists candidates in assessing their readiness and identifying areas where they may require additional attention.
Relatively Expensive: One of the major disadvantages of Wiley's CMA Review System is its relatively high price. Wiley's materials can be quite expensive when compared to other CMA study material providers, which may be a deterrent for budget-conscious candidates.
The Wiley US CMA Review System is praised for its extensive study material and clear language, making it a top choice for self-preparers, particularly those who are unfamiliar with finance and management concepts. Furthermore, supplementary resources such as questionnaires, a performance tracker, and a study planner can improve the overall learning experience. The relatively high cost of Wiley's study materials, on the other hand, may make them less accessible to some candidates. As a result, prospective CMA candidates should carefully weigh these pros and cons to determine whether Wiley's CMA Review System aligns with their learning preferences and budget.
3. Hock US CMA Study Material
Popularity and Comprehensive Study Material: Hock's CMA study material is highly regarded and popular among CMA candidates. It is well-known for providing comprehensive content that delves deeply into the relevant topics. This is especially useful for candidates who want to understand the subject thoroughly.
Compact Knowledge: Hock's study materials provide concise and compact knowledge, which can be advantageous for candidates who prefer a more focused and efficient study method. It simplifies the learning process by presenting information in a clear and direct manner.
Competitive Pricing: When compared to other options on the market, Hock's CMA study materials are reasonably priced. Because of its low cost, it is an appealing option for candidates on a tight budget who want high-quality materials without breaking the bank.
"You Pass or We Pay Guarantee": Hock's distinguishing feature is the "You Pass or We Pay Guarantee," which provides added assurance. This guarantee means that if you use Hock's study materials but do not pass the CMA exam, they will reimburse you for the next attempt. This can give candidates peace of mind.
Practice Questions and Mock Tests: Some candidates have complained that Hock's study materials do not include enough practice questions and mock tests. Ample practice questions are necessary for exam preparation in order to reinforce learning and assess readiness for the actual exam.
Fewer Test Banks: Hock's study materials may have fewer test banks than some of their competitors. It is advantageous for candidates to have access to a variety of test banks in order to practice and adapt to different question types and difficulty levels.
Hock's US CMA Study Material is well-liked for its extensive content, reasonable pricing, and unique "You Pass or We Pay Guarantee." It also presents information in a concise and focused manner. However, when compared to other CMA study material providers, some candidates may find it lacking in terms of the number of practice questions and test banks. Candidates should carefully weigh these advantages and disadvantages to determine whether Hock's study materials are appropriate for their specific study preferences and needs.
4. Surgent US CMA Review System
Adaptive Technology: Surgent's CMA review system makes use of adaptive technology. This technology evaluates a student's performance on practice questions and mock exams in order to identify their weak points. The study material and questions are then tailored to those areas, assisting students in improving their understanding and performance in specific subject areas. This personalized approach can be extremely effective in terms of maximizing study time.
Additional Practice Questions: Surgent offers additional sets of questions to help students prepare. These additional questions can be beneficial in reinforcing learning and increasing confidence in tackling a variety of topics.
Focus on Improvement: Surgent places a strong emphasis on assisting students in better understanding and performance. The system is intended to not only deliver content but also to track and adapt to a student's progress. Individuals who want to continuously improve their knowledge and skills will benefit from this approach.
Lacks Trial Class Support: Surgent's CMA Review System may not provide a trial class or sample lesson for prospective students to get a sense of their teaching style and materials before committing. Having a trial class option can be advantageous for those who want to investigate the content and teaching method.
No Live Class Facilities: Surgent, unlike some other CMA review providers, does not provide live class facilities or live instruction. Candidates who prefer real-time interaction with instructors and fellow students for discussions and clarifications may benefit from live classes.
Surgent's US CMA Review System distinguishes itself through the use of adaptive technology to identify and address weak areas, additional practice questions to supplement preparation, and an emphasis on improving a student's overall understanding and performance. Surgent may not offer a trial class for potential students to experience their teaching style, and they do not offer live class facilities, which may be a consideration for those who prefer live interactions during their preparation. As with any CMA review system, candidates must weigh the pros and cons to determine whether Surgent meets their specific needs and preferences.
5. Gleim USA CMA Study Material
Long-standing Reputation: Gleim has a long history of providing CMA candidates with study materials. Many people trust it because of its established reputation and extensive experience in CMA exam preparation.
Affordability: Gleim is known for providing study materials at a low cost, making it accessible to a wide range of candidates, including those on a tight budget.
Comprehensive Test Bank: Gleim's CMA Review System includes a large test bank with 4,500 multiple-choice questions. Candidates will have plenty of opportunities to practice and reinforce their knowledge with this extensive question database.
Additional Study Resources: Gleim goes above and beyond the basics with full-length mock exams, study planners, audio lectures, videos, and digital flashcards. These additional resources provide candidates with a variety of study aids to help them prepare for the exam.
No Live Classes: The Gleim CMA Review System does not include live classes or instructor support. This means that candidates will primarily rely on self-study and may not have the opportunity to interact in real-time with instructors or fellow students.
Assumes Prior Knowledge: Gleim's materials are frequently geared toward candidates who already have a foundational understanding of finance and accounting concepts. As a result, they may not be as helpful to beginners or those who require more detailed explanations.
Gleim is a well-known and reasonably priced option for CMA exam preparation. It includes a large test bank as well as a number of additional resources. However, it lacks live classes and may be better suited for intermediate to advanced learners with some prior knowledge of finance and accounting concepts. When deciding whether Gleim is the right choice for CMA exam preparation, candidates should consider their familiarity with the subject matter as well as their preference for live instruction.
Finally, choosing the right CMA study materials is critical for exam success. When selecting from the top five options, keep your learning style and budget in mind. Each resource has its own set of advantages and disadvantages, so choose the one that best meets your specific requirements and preferences. Best wishes for your CMA USA exam preparation in 2024!
1. Is third-party study material necessary for the CMA USA exam due to IMA's lack of provided materials?
While the IMA does not provide study materials, it is critical to select from trusted third-party providers who offer verified study resources. These companies provide comprehensive study materials that are tailored to the CMA syllabus.
2. How do I determine the right study material for my CMA USA exam preparation in 2024?
Your decision should be guided by your learning style and budget. Consider whether you prefer self-paced learning or more interactive options such as live webinars. In addition, consider the clarity of the content and whether it is appropriate for your level of prior knowledge in finance and management.
3. Are there any affordable CMA USA study materials available?
Yes, some study materials, such as Gleim, are reasonably priced and include comprehensive test banks. However, keep in mind that some low-cost options may require prior finance knowledge, so make sure it matches your skill level.
4. What is the "You Pass or We Pay Guarantee" mentioned in the Hock US CMA Study Material?
The "You Pass or We Pay Guarantee" is Hock's promise to provide a refund or free access to their materials if you fail the CMA exam while using their resources. Hock provides this assurance to candidates in order to boost their confidence.
5. Which CMA study material is best for beginners without prior finance or management knowledge?
Wiley's US CMA Review System is recommended for beginners because it uses clear and easy-to-understand language, making it an excellent choice for those who have little to no prior knowledge in finance or management. It also provides a variety of tools to assist you in learning the fundamentals.
6. What is the Best choice for the USA CMA exam?
Gleim Study Material is highly favored by many US CMA candidates due to its comprehensive content, affordability, and a wide range of practice resources, including past papers, sample questions, and demo test papers.
7. How can I prepare for the US CMA?
Preparing for the US CMA exam, which is known for its difficulty, necessitates a solid foundation in finance, accounting, and management. It usually takes around 90 hours of study. Begin by mastering the fundamental concepts, then practice with mock exams to reinforce your understanding. Online platforms such as iProledge offer valuable support and guidance to help you prepare.
8. Is self-studying for the US CMA feasible?
Yes, it is possible to prepare for the CMA in the United States on your own. It necessitates a solid background in finance, accounting, and management. A well-organized study schedule and a well-thought-out study plan can help you navigate the exams successfully. Enrolling in an online US CMA course, on the other hand, can improve your preparation by providing access to tailored study materials, live lectures, and mentorship opportunities.