For example, Management information systems is tested more extensively on the CMA exam. SEC Financial Reporting Releases and Cost Accounting Standards Board pronouncements are covered on the CMA exam but not on the CPA exam. Topics like economics, finance, and management on Part 1 and Part 2CFM are covered lightly, if at all, on the CPA exam. The CMA exam tests internal auditing to a far greater degree than does the CPA exam. The CMA exam tests business ethics, but not business law.
CMA questions are generally more analysis oriented than CPA questions.
On the CPA exam, the typical requirement is the solution of an accounting problem, e.g., consolidated worksheet, funds statement, etc. The CMA exam generally has an additional requirement to analyze the impact of the data in the accounting presentation or to explain how the accounting data are used. Year Examination Was First Administered 1972 Major Exam Sections and Length 1.