CMA Part 2 study plan

Compute break-even points in units and in dollars, margin of safety, and target operating income for single-product and multi-product firms using weighted-average contribution margin

Classify each cost in a described decision as relevant or irrelevant and justify every exclusion (sunk cost, allocated fixed overhead, committed cost)

Quantify the incremental income effect of make-or-buy, special-order, keep-or-drop, and sell-or-process-further choices

Apply theory-of-constraints reasoning to locate the bottleneck in a described production sequence and rank options for relieving it

Complete a timed 40-question set on CVP and relevant costing and tag every miss by cause (concept gap, misread, calculation)

Compute expected value for each branch of a decision tree and select the alternative with the highest expected payoff

Formulate and solve graphically a two-product linear program to find the profit-maximizing mix under one scarce resource

Distinguish cost-plus, target costing, target pricing, and peak-load pricing, and derive a target cost from a market price and required margin

Compute the core liquidity, activity, and leverage ratios from statement figures you assemble yourself

Retake every miss from the Week 1 log and confirm the correction without referring to notes

Compute profitability and market-value ratios, including gross margin, operating margin, ROA, ROE, EPS, P/E, dividend payout, and book value per share

Decompose ROE with both the three-step and five-step DuPont frameworks and attribute a year-over-year ROE change to its specific drivers

Perform horizontal and common-size vertical analysis across two periods and state three defensible conclusions

Flag earnings-quality problems: aggressive revenue recognition, capitalizing instead of expensing, changing allowance or reserve estimates, and off-balance-sheet financing

Restate reported figures for an accounting change and recompute the affected ratios

Compute after-tax cost of debt, cost of preferred stock, cost of equity via CAPM and via dividend growth, and WACC at stated capital weights

Compute and interpret degree of operating leverage, degree of financial leverage, and degree of total leverage, and explain the effect on earnings volatility

Calculate the EBIT-EPS indifference point between a debt-financed and an equity-financed expansion

Compute the cash conversion cycle and weigh the carrying cost of current assets against the cost of a funding shortage

Complete a timed 50-question mixed A/B set and rework every incorrect item in writing

Identify specific violations of competence, confidentiality, integrity, and credibility in described workplace scenarios using the IMA Statement of Ethical Professional Practice

Resolve an ethical conflict by applying the escalation sequence and state the conditions under which to consult, document, or resign

Analyze a described fraud case for fraud-triangle pressure, opportunity, and rationalization indicators and recommend the control that would have prevented it

Evaluate share repurchase versus dividend payment and compute the effect of a stock split or stock dividend on EPS, book value per share, and market ratios

Write ten original ethics scenarios and supply the correct resolution and the specific standard violated for each

Classify described exposures as hazard, financial, operational, or strategic risk

Match avoid, reduce, share, and accept responses to described risks and justify the choice on cost-benefit grounds

Compute hedged versus unhedged outcomes for a forward contract and for an option at given future spot prices, including the option premium

Compare insurance against retention using expected loss, premium, and deductible figures

Answer 30 mixed ethics and risk questions and write a one-sentence justification for each answer chosen

Estimate relevant project cash flows including the depreciation tax shield, working capital investment and recovery, salvage value, and tax on disposal

Compute NPV, IRR, discounted payback, and profitability index for a described project and rank mutually exclusive alternatives

Reconcile IRR-versus-NPV ranking conflicts by applying reinvestment-rate assumptions and scale differences

Apply sensitivity and scenario analysis to identify the input variable that most changes project NPV

Compute the value of a real option to expand or abandon relative to the base-case NPV

Re-solve every item in the cumulative error log and confirm each correction without notes

Sit two full-length timed mock exams and record section-level scores for all six domains

Build a one-page formula sheet covering A, B, C, E, and D calculations from memory, then verify it

Drill the two weakest domains from the mock results with 30 targeted questions each