CMA Exam Academy - Pass the Exam on Your First Try!

How To Ask Your Boss To Sponsor Your CMA Certification👇 Employers understand the value of the CMA Many are willing to sponsor it But the key is to approach them well-prepared Here’s your 10-step checklist: 1. Research & Document the Benefits: Highlight how the CMA will make you a bigger asset. Show stats on how CMAs have improved efficiency, financial strategy, and growth in similar organizations. Check IMA’s annual salary survey for more info. 2. Present a Clear Budget: Outline the total cost – exam fees, prep materials, courses, and potential retest fees. A well-laid-out budget shows initiative. 3. Draft a Training & Study Schedule: Show your dedication. When will you study? How will you manage work and prep without conflicts? 4. Immediate Application of Knowledge: Emphasize that while the certification is a long-term investment, the skills and knowledge you acquire during the prep phase can be immediately applied to your current role, bringing about instantaneous improvements and efficiency. 5. Offer to "Pay Back" Through Commitment: Consider proposing a tenure commitment post-certification, assuring them of a return on investment through your enhanced skills. 6. Discuss Potential Tax Deductions: Some educational expenses can be tax-deductible for businesses. Check local regulations and remind your employer about this. 7. Be Ready to Address Concerns: What if you don't pass? Have a plan. Consider offering to cover retesting fees or suggesting a repayment plan if the certification isn't achieved within a timeframe. 8. Stay Open to Partial Sponsorship: Full sponsorship is ideal, but partial support can also significantly ease your financial burden. 9. Professional Development Plan: Show them the bigger picture. How does the CMA fit into your 5-year career plan within the company? 10. Schedule a Formal Meeting: Don’t spring this during a coffee break. Schedule a time, be ready with your materials, and make it official. —--------------- The key is to show a high ROI Not just for yourself, but for the organization too! By doing so, they’re more likely to back you up 🤝 —------------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate 🚀 CPE Flow dot com - Are you a certified accountant? - Earn your annual CPE credits (link in bio) ➕ Follow me for accounting & finance insights

Turn Financial Data Into Insights In 10 simple steps 👇 1️⃣ Set Clear Goals: Establish what you want to achieve - be it increasing revenue, reducing expenses, or improving cash flow. Example: Your company aims to increase revenue by 10% this fiscal year. 2️⃣ Identify Key Metrics: Determine the crucial financial indicators that align with your goals. Example: Gross profit margin and sales growth rate are crucial for your revenue goal. 3️⃣ Collect and Cleanse Data: Gather financial data and ensure its accuracy and relevance. Example: Compile sales and cost data from your accounting software and ensure it's up-to-date and accurate. 4️⃣ Analyze the Data: Use financial analysis techniques like ratio analysis, trend analysis, and more to decode the numbers. Example: Use ratio analysis to calculate your current gross profit margin and compare it to the industry average. 5️⃣ Decipher Patterns: Identify patterns and trends in your financial data to understand what's working and what isn’t. Example: Spot a pattern of declining sales in a particular product line affecting your overall revenue. 6️⃣ Implement Predictive Analytics: Leverage predictive analytics to forecast future performance based on historical data. Example: Use past sales data and trend analysis to forecast future sales for different product lines. 7️⃣ Convert Insights into Actions: Transform your analysis into specific actions aimed at achieving your goals. Example: Develop a strategy to boost sales in underperforming product lines, such as marketing campaigns or pricing adjustments. 8️⃣ Visualize the Data: Use dashboards and infographics to present data in a digestible way for non-finance executives. Example: Use a dashboard to illustrate how changes in the sales of each product line impact overall revenue. 9️⃣ Communicate Effectively: Clearly articulate your findings to your executive team, ensuring they understand the implications. Example: Present your analysis and action plan in a clear, concise manner to your team, explaining how improved sales can increase overall revenue. 🔟 Monitor Performance: Continuously track performance against the identified key metrics and adjust strategies as necessary. Example: Regularly review sales figures and the gross profit margin to assess the effectiveness of your strategies and adjust as needed. —-------------- What other steps would you add? Let me know in the comments 👇 Like, Share and Comment so this post can reach more people who want to learn about how to turn financial data into insights. —--------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate ➕ Follow me for accounting & finance insights

CMA Part-One is King FP&A is the Knight 👇 CMA Part-One is more comprehensive Its focus is on managerial accounting FP&A, on the other hand, is more specific Ideal for those keen on playing a more focused role Both roles are important but serve a different purpose Why is CMA Part-One more comprehensive? Let’s dive in 👇 1️⃣ External Financial Reporting Decisions: Here, you become the narrator of your company's financial journey. - Financial Statements - Recognition, Measurement, Valuation, and Disclosure 2️⃣ Planning, Budgeting and Forecasting: Plot the future of your financial kingdom with strategy and foresight. - Strategic Planning - Budgeting Concepts - Forecasting Techniques - Budget Methodologies - Annual Profit Plan & Supporting Schedules - Top-level Planning & Analysis 3️⃣ Performance Management: Keep your kingdom on course by monitoring key performance metrics. - Cost and Variance Measures - Responsibility Centers and Reporting Segments - Performance Measures 4️⃣ Cost Management: Become the master of your resources and deploy them efficiently. - Measurement Concepts - Costing Systems - Overhead Costs - Supply chain Management - Business Process Improvement 5️⃣ Internal Controls: Here, you build the fortress that shields your kingdom from risks. - Governance, Risk, and Compliance - Systems Controls and Security Measures 6️⃣ Technology and Analytics: In the era of digitalization, this is your key to the future. - Information Systems - Data Governance - Technology-Enabled Finance Transformation - Data Analytics —--------------- 👉 What's your pick, CMA or FP&A? Or perhaps, a combo of both? Share your thoughts in the comments 💬 —--------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate ➕ Follow me for accounting & finance insights

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CFO vs. Controller vs. Accounting Manager What’s the difference? 👇 1. Chief Financial Officer (CFO) Duties: The Grandmaster of Finance! Oversees financial planning, monitors cash flow, and analyzes financial strengths and weaknesses. Salary: Hold your breath! On average, $175K - $350K per annum. Cha-ching! 2. Corporate Controller Duties: The Financial Maestro! Manages accounting operations, ensures compliance, and produces timely financial statements. Salary: Get ready to conduct the money symphony with an average annual salary of $100K - $200K! 3. Accounting Manager Duties: The Pillar of Accuracy! Manages and oversees daily accounting operations, produces financial reports, and ensures adherence to accounting standards. Salary: Power up your wallet with an average salary ranging from $85K to $125K! —------------------ Deciding between these roles? Remember: 1. The CFO is the strategist 2. The Corporate Controller ensures the orchestra is in tune 3. The Accounting Manager is the virtuoso performer. Which path calls to you? Share your thoughts, and if you're already one of these, drop some wisdom👇 —--------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate ➕ Follow me for accounting & finance insights

In the United States, management accountants and financial professionals are governed by the IMA – the Institute of Management Accountants. But what does that mean and who is the IMA exactly? The short story is the IMA offers networking and professional development to accountants all over the world. They are responsible for providing a code of ethics and standards to management accountants. The IMA is so much more than that though, so let me break out the story for ya. It's a must-read if you plan to earn your CMA designation: https://lnkd.in/g5sZmaWk #cmaexam #cmacoach

Top 4 Financial Statements Understanding Their Interrelation 👇 Financial statements are quite intricate One can easily get lost in the details However, they harmoniously work together To narrate a company's financial story 🔗 1. The Balance Sheet (Statement of Financial Position): The static snapshot. It showcases assets, liabilities, and shareholders' equity at a specific moment in time. It's the foundation, setting the stage for everything else. 🔗 2. The Income Statement (Profit and Loss Statement): The dynamic flow. It records revenues, expenses, and profits or losses over a defined period. Importantly, the net income from the income statement affects retained earnings on the balance sheet. 🔗 3. The Cash Flow Statement: The liquidity tracker. It traces the flow of cash from operating, investing, and financing activities. Notably, the net cash from operations links directly to changes in the balance sheet’s cash and cash equivalents. 🔗 4. The Statement of Changes in Equity: The equity chronicle. It details shifts in owner’s equity throughout the year, primarily influenced by net income (from the income statement) and any dividends or new capital introduced. —--------------- So, how do they relate? Imagine a business cycle in 5 steps: 1️⃣ We start with our resources (Balance Sheet) 2️⃣ Through the course of business, we generate profits or sustain losses (Income Statement) 3️⃣ These profits or losses influence our equity (reflected back on the Balance Sheet) 4️⃣ The actual cash generated or used in this process is monitored (Cash Flow Statement) 5️⃣ Lastly, changes in the equity section, influenced by profits and distributions, are detailed (Statement of Changes in Equity) In essence, they're chapters of a single story With each statement taking the story forward —--------------- 👉 Want to know more? Supercharge your career with the CMA credential! 🌟 82,000+ accountants got my free CMA exam cheat sheet. Get yours too! (link in bio) —--------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate ➕ Follow me for accounting & finance insights

🚨Cost-Volume-Profit (CVP) Analysis The key to higher business profits! Understanding the financial dynamics in business Is crucial for driving profitability 🚀 CVP Analysis is the perfect tool for the job! Ready for a quick tour of this technique? Let’s dive in! 1️⃣Cost Volume Profit (CVP) Analysis Basics: We kick things off with the fundamentals, ensuring you have a solid foundation. 1. CVP Definition and Importance 2. Cost Classifications - Variable, Fixed, and Mixed Costs 3. CVP Assumptions & Components 2️⃣Contribution Margin: Dive deeper into one of the most important metrics in financial analysis. 1. Margin & Contribution Margin Defined 2. Contribution Margin per Unit 3. Contribution Margin Ratio 4. Total Contribution Margin 5. Evolution of CVP Relationships 3️⃣Break-Even Point Analysis: One of the most practical applications of CVP analysis is determining the break-even point. 1. Break-Even Point Basics 2. Calculating Break-Even Point in Units 3. Calculating Break-Even Point in Dollars 4. Factoring a Target Profit into a Break-Even Analysis 4️⃣Margin of Safety & Degree of Operating Leverage: Enhance your financial strategy with these advanced CVP concepts. 1. Margin of Safety 2. Changes in Net Income / What if Analysis 3. Operating Leverage Basics 4. Calculating Degree of Operating Leverage (DOL) —--------------- CVP analysis is a powerful accounting tool That will enhance your decision-making capabilities 👉Ready to take your skills to the next level? Learn how you can master CVP Analysis today: https://bit.ly/49wUXz7 —--------------- Hi! I’m Nathan Liao, Founder & CEO of: 🚀 CMA Exam Academy dot com - Pass the CMA exam on your first attempt! - 16-week Accelerator program (link in bio) - Students in 120 countries. 92% exam pass rate 🚀 CPE Flow dot com - Are you a certified accountant? - Earn your annual CPE credits (link in bio) ➕ Follow me for accounting & finance insights

Auditory learners listen up! The CMA auditory lectures are available as MP3 downloads and capture all of the important audio clips, soundbites, and training content you need for both parts of the CMA exam. Listen on the go and leverage the power of sound to flex your memory muscles, accelerating your mastery of core concepts and in-depth understanding. Download to any device and play from anywhere, activating the ultimate flexibility to round out your CMA studies. Click here to learn more: https://bit.ly/3GYtCJ9 #cmacoach #cmaexamacademy #cmaexam

🎉 Just finished your CMA exam? Wondering what's next? Don't just wait for your results—start preparing for a successful future! Discover productive ways to use this time in our latest blog. Dive in and get ahead of the game: https://bit.ly/3xxEEjE