Enterprise Risk Management: CMA Exam 2 - Section D

Author: Tom Coghlan

Tom Coughlan covers how to define risk, identify nuances of various types of risk, strategies for risk response, and more.

Whether you take the CMA exam or not, using your CPE credits to review the material tested on the Certified Management Accountant exam will help you to close the skills gap and move from compiling and reporting the results to a seat at the management table.

For more than 40 years, the CMA (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals. Why? Because CMAs can explain the "why" behind numbers, not just the "what." And that can give you greater credibility, higher earning potential, and ultimately a seat at the leadership table.

Using CPE credits to prepare for the Certified Management Accountant (CMA) exam is a pathway to a more successful business career: one that opens doors, builds confidence, closes skills gaps, and lets you tap into a network of 85,000 professionals around the globe.

The CMA certification complements other credentials or degrees and tests for analytical and critical-thinking skills not covered in other exams. About one in three active CMAs in the U.S. are also CPAs.

The Certified Managerial Accountant (CMA) designation delivers:
1) The ability to see the big picture, both operational and financial.
2) The know-how to leverage technology, especially as it relates to gathering and analyzing data.
3) Insight into financial implications of business decisions and the ability to communicate them in way that is clear and jargon-free.

Publication Date: April 2017

Designed For
Financial officers, controllers and chief financial officers; financial, managerial and cost accountants; financial and business analysts; budget managers and analysts; risk managers; chief information officers and information technology professionals.

Topics Covered

• Risk and risk management
• Enterprise Risk Management (ERM)

Learning Objectives

• Define risk.
• Identify the types of risk and key elements of each.
• Explain risk management and its key steps.
• Explain the use of probabilities to assess risk.
• Identify strategies for risk response.
• Define Enterprise Risk Management (ERM) and explain its key objectives, components, and benefits.
• Demonstrate an understanding of the Committee of Sponsoring Organization's (COSO) ERM framework.
• Explain the role of corporate governance in ERM.

Level
Overview

Instructional Method
Self-Study

NASBA Field of Study
Finance (1 hour)

Program Prerequisites
None

Advance Preparation
None