Free IMA CMA Part 1 (Financial Planning, Performance, and Analytics) Formula Sheet (2026)

Every CMA Part 1 formula you need on the test, grouped by topic, rendered with full math notation. 70 formulas across 6 topics, calibrated to the 2026 syllabus. Free forever, no signup required.

70 Formulas
6 Topics
2026 Syllabus
Free Forever

All CMA Part 1 Formulas

External Financial Reporting Decisions 11 items
Accounting equation
Assets=Liabilities+Equity\text{Assets} = \text{Liabilities} + \text{Equity}
Expanded: Assets=Liab+Contributed Capital+Retained Earnings+Revenue−Expenses−Dividends\text{Assets} = \text{Liab} + \text{Contributed Capital} + \text{Retained Earnings} + \text{Revenue} - \text{Expenses} - \text{Dividends}
Cost of goods sold
COGS=Beginning Inventory+Purchases−Ending Inventory\text{COGS} = \text{Beginning Inventory} + \text{Purchases} - \text{Ending Inventory}
Manufacturer: COGS=Beg FG+COGM−End FG\text{COGS} = \text{Beg FG} + \text{COGM} - \text{End FG}
where COGM=Beg WIP+DM used+DL+OH applied−End WIP\text{COGM} = \text{Beg WIP} + \text{DM used} + \text{DL} + \text{OH applied} - \text{End WIP}
Inventory lower of cost or net realizable value (FIFO / WA)
Carry inventory at the lower of cost OR NRV.
NRV=Estimated Selling Price−Costs to Complete−Costs to Sell\text{NRV} = \text{Estimated Selling Price} - \text{Costs to Complete} - \text{Costs to Sell}
Write-down recognized as expense in current period; reversals allowed under IFRS, not under US GAAP.
Straight-line depreciation
Annual Depr=Cost−SalvageUseful Life (years)\text{Annual Depr} = \dfrac{\text{Cost} - \text{Salvage}}{\text{Useful Life (years)}}
Equal expense each year. Book value declines linearly to salvage value.
Double-declining balance depreciation
DDB Rate=2×1Useful Life\text{DDB Rate} = 2 \times \dfrac{1}{\text{Useful Life}}
Depr Expenset=Book Valuet−1×DDB Rate\text{Depr Expense}_t = \text{Book Value}_{t-1} \times \text{DDB Rate}
Ignores salvage in computation; stop depreciating once book value reaches salvage.
Units of production depreciation
Depr per Unit=Cost−SalvageTotal Estimated Units\text{Depr per Unit} = \dfrac{\text{Cost} - \text{Salvage}}{\text{Total Estimated Units}}
Period Depr=Depr per Unit×Units Produced\text{Period Depr} = \text{Depr per Unit} \times \text{Units Produced}
Sum-of-years-digits depreciation
SYD Denominator=n(n+1)2\text{SYD Denominator} = \dfrac{n(n+1)}{2} where n = useful life in years
Deprt=(Cost−Salvage)×n−t+1n(n+1)/2\text{Depr}_t = (\text{Cost} - \text{Salvage}) \times \dfrac{n - t + 1}{n(n+1)/2}
Accelerated method: larger expense in early years.
ASC 606 five-step revenue recognition
1. Identify contract with customer.
2. Identify performance obligations.
3. Determine transaction price.
4. Allocate transaction price to obligations (standalone selling prices).
5. Recognize revenue when (or as) each obligation is satisfied.
Capitalized interest on self-constructed assets
Avoidable Interest=Weighted-avg Accumulated Expenditures×Interest Rate\text{Avoidable Interest} = \text{Weighted-avg Accumulated Expenditures} \times \text{Interest Rate}
Capitalized amount = lesser of avoidable interest OR actual interest incurred during construction period. Cease when asset is substantially complete and ready for intended use.
Basic and diluted EPS
Basic EPS=Net Income−Preferred DividendsWeighted-Avg Common Shares Outstanding\text{Basic EPS} = \dfrac{\text{Net Income} - \text{Preferred Dividends}}{\text{Weighted-Avg Common Shares Outstanding}}
Diluted EPS adds potentially dilutive securities (options via treasury-stock method, convertibles via if-converted). Antidilutive securities are excluded.
Bond issuance proceeds
Proceeds=PV of Face+PV of Coupons\text{Proceeds} = \text{PV of Face} + \text{PV of Coupons}
=Face×PVFn,i+Coupon×PVOAn,i= \text{Face} \times \text{PVF}_{n, i} + \text{Coupon} \times \text{PVOA}_{n, i}
Discount: issued below face when market rate > coupon rate.
Premium: issued above face when market rate < coupon rate.
Planning, Budgeting, and Forecasting 15 items
Production budget
Units to Produce=Budgeted Sales+Desired Ending FG−Beginning FG\text{Units to Produce} = \text{Budgeted Sales} + \text{Desired Ending FG} - \text{Beginning FG}
Production = sales adjusted for inventory build-up or drawdown.
Direct materials purchases budget
DM to Purchase=DM Needed for Production+Desired Ending DM−Beginning DM\text{DM to Purchase} = \text{DM Needed for Production} + \text{Desired Ending DM} - \text{Beginning DM}
DM Needed=Units to Produce×DM per Unit\text{DM Needed} = \text{Units to Produce} \times \text{DM per Unit}
Cash budget structure
Beginning Cash
+Cash Receipts (collections from sales)+ \text{Cash Receipts (collections from sales)}
−Cash Disbursements (payments for purchases, operating, capex, debt service)- \text{Cash Disbursements (payments for purchases, operating, capex, debt service)}
=Cash Available before Financing= \text{Cash Available before Financing}
±Financing (borrowings or repayments)\pm \text{Financing (borrowings or repayments)}
=Ending Cash Balance= \text{Ending Cash Balance}
Flexible budget
Flex Budget Cost=Fixed Cost+(VC per Unit×Actual Activity)\text{Flex Budget Cost} = \text{Fixed Cost} + (\text{VC per Unit} \times \text{Actual Activity})
Used to compare actual results against what costs SHOULD have been at the actual activity level (vs static master budget).
High-low method (variable cost per unit)
VC per Unit=Cost at High−Cost at LowActivity at High−Activity at Low\text{VC per Unit} = \dfrac{\text{Cost at High} - \text{Cost at Low}}{\text{Activity at High} - \text{Activity at Low}}
Fixed Cost=Total Cost at High−(VC per Unit×High Activity)\text{Fixed Cost} = \text{Total Cost at High} - (\text{VC per Unit} \times \text{High Activity})
Uses only two data points; less accurate than regression.
Simple linear regression
y=a+bxy = a + bx
b=n∑xy−∑x∑yn∑x2−(∑x)2b = \dfrac{n\sum xy - \sum x \sum y}{n\sum x^2 - (\sum x)^2}
a=yˉ−bxˉa = \bar{y} - b\bar{x}
b is slope (variable cost per unit); a is intercept (fixed cost component).
Coefficient of determination R-squared
R2=1−SSresSStotR^2 = 1 - \dfrac{SS_{res}}{SS_{tot}} where SSres=∑(yi−y^i)2SS_{res} = \sum(y_i - \hat{y}_i)^2 and SStot=∑(yi−yˉ)2SS_{tot} = \sum(y_i - \bar{y})^2
Proportion of variance in y explained by x. Range 0 to 1. Higher is better fit.
Coefficient of variation
CV=σμ\text{CV} = \dfrac{\sigma}{\mu}
Standard deviation per unit of mean. Used to compare relative risk across projects with different scales. Lower CV = lower relative risk.
Expected value of a discrete random variable
E[X]=∑ipixiE[X] = \sum_{i} p_i x_i
Weighted average of outcomes by probabilities. Probabilities must sum to 1.
Variance: σ2=∑pi(xi−E[X])2\sigma^2 = \sum p_i (x_i - E[X])^2
Expected value of perfect information (EVPI)
EVPI=EV with Perfect Info−EV of Best Decision under Uncertainty\text{EVPI} = \text{EV with Perfect Info} - \text{EV of Best Decision under Uncertainty}
Maximum the decision maker should pay for perfect information. Upper bound on the value of any forecasting or market research.
Learning curve (cumulative average-time model)
Y=aXbY = aX^b where b = log⁡(learning rate)/log⁡2\log(\text{learning rate}) / \log 2
Y = cumulative average time per unit after X units, a = time for first unit.
80% curve: each doubling of cumulative output cuts cumulative average time to 80% of prior level. b=log⁡(0.80)/log⁡2=−0.322b = \log(0.80)/\log 2 = -0.322.
Simple moving average forecast
Ft+1=Dt+Dt−1+⋯+Dt−n+1nF_{t+1} = \dfrac{D_t + D_{t-1} + \cdots + D_{t-n+1}}{n}
Average of the most recent n actual periods becomes forecast for next period. Equal weights. Smooths noise; lags behind real trends.
Weighted moving average and exponential smoothing
Weighted MA: Ft+1=∑wiDt−i+1F_{t+1} = \sum w_i D_{t-i+1} with ∑wi=1\sum w_i = 1. Heavier weights on recent periods.
Exponential smoothing: Ft+1=αDt+(1−α)FtF_{t+1} = \alpha D_t + (1 - \alpha)F_t where 0<α<10 < \alpha < 1. Higher α\alpha gives more responsiveness; lower α\alpha gives more stability.
Time-series decomposition components
Multiplicative: Yt=Tt×St×Ct×ItY_t = T_t \times S_t \times C_t \times I_t
Additive: Yt=Tt+St+Ct+ItY_t = T_t + S_t + C_t + I_t
T = trend (long-run direction), S = seasonal (within-year cycles), C = cyclical (multi-year business cycle), I = irregular (random).
Linear programming setup
Maximize (or minimize): Z=c1x1+c2x2+⋯+cnxnZ = c_1 x_1 + c_2 x_2 + \cdots + c_n x_n
Subject to: ai1x1+ai2x2+⋯≤bia_{i1} x_1 + a_{i2} x_2 + \cdots \leq b_i for each constraint i
xj≥0x_j \geq 0 for all j
Optimal solution lies at a corner (extreme point) of the feasible region.
Performance Management 17 items
Contribution margin
CM=Revenue−Variable Costs\text{CM} = \text{Revenue} - \text{Variable Costs}
CM per Unit=Price−VC per Unit\text{CM per Unit} = \text{Price} - \text{VC per Unit}
Contribution toward covering fixed costs and producing profit. Variable costing income statement separates VC and FC.
Contribution margin ratio
CM Ratio=CMRevenue=P−VP\text{CM Ratio} = \dfrac{\text{CM}}{\text{Revenue}} = \dfrac{P - V}{P}
Fraction of each sales dollar available to cover fixed costs and profit. Stable across volume changes when prices and VC structure are constant.
Breakeven point in units and dollars
BE Units=Fixed CostsCM per Unit\text{BE Units} = \dfrac{\text{Fixed Costs}}{\text{CM per Unit}}
BE Dollars=Fixed CostsCM Ratio\text{BE Dollars} = \dfrac{\text{Fixed Costs}}{\text{CM Ratio}}
Volume where total revenue equals total cost (zero profit).
Target profit (before-tax and after-tax)
Before-tax target: Units=FC+Target ProfitCM per Unit\text{Units} = \dfrac{\text{FC} + \text{Target Profit}}{\text{CM per Unit}}
After-tax target: Units=FC+After-tax Profit/(1−t)CM per Unit\text{Units} = \dfrac{\text{FC} + \text{After-tax Profit}/(1 - t)}{\text{CM per Unit}} where t = tax rate.
Margin of safety
Margin of Safety=Actual or Budgeted Sales−Breakeven Sales\text{Margin of Safety} = \text{Actual or Budgeted Sales} - \text{Breakeven Sales}
MoS Ratio=Margin of SafetyActual Sales\text{MoS Ratio} = \dfrac{\text{Margin of Safety}}{\text{Actual Sales}}
Cushion against revenue decline before reaching breakeven.
Degree of operating leverage
DOL=Contribution MarginOperating Income=%Δ Op Income%Δ Sales\text{DOL} = \dfrac{\text{Contribution Margin}}{\text{Operating Income}} = \dfrac{\%\Delta \text{ Op Income}}{\%\Delta \text{ Sales}}
High DOL = more fixed costs in cost structure = profits move more dramatically with sales changes. DOL is highest near breakeven.
Multi-product weighted-average CM breakeven
Weighted-Avg CM per Unit=∑(CMi×Mixi)\text{Weighted-Avg CM per Unit} = \sum (\text{CM}_i \times \text{Mix}_i)
BE Composite Units=Fixed CostsWeighted-Avg CM per Unit\text{BE Composite Units} = \dfrac{\text{Fixed Costs}}{\text{Weighted-Avg CM per Unit}}
Decompose composite units by sales mix percentages to get per-product BE units. Assumes constant sales mix.
Direct materials price variance
DM Price Var=(AP−SP)×AQpurchased\text{DM Price Var} = (\text{AP} - \text{SP}) \times \text{AQ}_{\text{purchased}}
AP = actual price, SP = standard price, AQ = actual quantity. Unfavorable when actual price exceeds standard. Usually responsibility of purchasing.
Direct materials quantity (usage) variance
DM Quantity Var=(AQused−SQ)×SP\text{DM Quantity Var} = (\text{AQ}_{\text{used}} - \text{SQ}) \times \text{SP}
SQ = standard quantity allowed for actual output. Unfavorable when more materials used than standard. Usually responsibility of production.
Direct labor rate and efficiency variances
Rate: (AR−SR)×AH(\text{AR} - \text{SR}) \times \text{AH} where AR/SR are actual/standard rates, AH = actual hours.
Efficiency: (AH−SH)×SR(\text{AH} - \text{SH}) \times \text{SR} where SH = standard hours for actual output.
Rate is HR/payroll responsibility; efficiency is supervisor responsibility.
Variable overhead variances
Spending: (AR−SR)×AH(\text{AR} - \text{SR}) \times \text{AH} where AH = actual hours of cost driver.
Efficiency: (AH−SH)×SR(\text{AH} - \text{SH}) \times \text{SR} where SH = standard hours for actual output.
Spending captures rate differences; efficiency captures usage differences.
Fixed overhead budget and volume variances
Budget variance: Actual FOH −- Budgeted FOH (flexible budget = static budget for FOH).
Volume variance: Budgeted FOH −- FOH applied to production at standard rate.
Volume variance arises only because the rate uses denominator activity. Not a cash variance; reflects under- or over-absorption.
ROI, residual income, and EVA
ROI=Operating IncomeInvested Capital\text{ROI} = \dfrac{\text{Operating Income}}{\text{Invested Capital}}
Residual Income=Op Income−(Invested Capital×Required Return)\text{Residual Income} = \text{Op Income} - (\text{Invested Capital} \times \text{Required Return})
EVA=NOPAT−(Invested Capital×WACC)\text{EVA} = \text{NOPAT} - (\text{Invested Capital} \times \text{WACC})
RI and EVA favor goal congruence over ROI.
Sales price and sales volume variances
Sales price: (Actual Price−Budgeted Price)×Actual Units(\text{Actual Price} - \text{Budgeted Price}) \times \text{Actual Units}
Sales volume: (Actual Units−Budgeted Units)×Budgeted CM per Unit(\text{Actual Units} - \text{Budgeted Units}) \times \text{Budgeted CM per Unit}
Sales volume decomposes into sales mix and sales quantity variances for multi-product companies.
Transfer pricing methods
Three methods:
1. Market-based: external market price for the same product.
2. Cost-based: variable cost, full cost, or cost-plus.
3. Negotiated: divisions agree on a price (often when no clear market exists).
General rule: minimum transfer price = variable cost + opportunity cost of forgone external sales.
Balanced scorecard four perspectives
1. Financial: revenue growth, profitability, ROI, EVA.
2. Customer: satisfaction, retention, market share, brand value.
3. Internal business processes: cycle time, defect rates, productivity.
4. Learning and growth: employee skills, information systems, organizational alignment.
Responsibility center accountability
Cost center: controls costs only (e.g., production line).
Revenue center: controls revenues only (e.g., sales region).
Profit center: controls both (e.g., product division).
Investment center: controls revenues, costs, AND invested capital (e.g., subsidiary). Measured by ROI, RI, EVA.
Cost Management 12 items
Absorption vs variable costing income reconciliation
Income differs by the change in fixed OH in inventory.
Absorption Income−Variable Income=ΔUnits in Inventory×Fixed OH per Unit\text{Absorption Income} - \text{Variable Income} = \Delta \text{Units in Inventory} \times \text{Fixed OH per Unit}
Production > Sales: absorption income higher (FOH deferred in inventory).
Production < Sales: variable income higher.
Predetermined overhead rate
POHR=Estimated Total OH for PeriodEstimated Total Activity Base (denominator)\text{POHR} = \dfrac{\text{Estimated Total OH for Period}}{\text{Estimated Total Activity Base (denominator)}}
Applied OH = POHR ×\times actual activity. Over- or under-applied OH closed to COGS (or prorated to WIP/FG/COGS for material amounts).
Process costing equivalent units (weighted average)
EUWA=Units Completed+(Ending WIP Units×% complete)\text{EU}_{\text{WA}} = \text{Units Completed} + (\text{Ending WIP Units} \times \%\text{ complete})
Cost per EU: (Beg WIP Cost + Current Period Cost) / EU.
WA blends prior- and current-period costs.
Process costing equivalent units (FIFO)
EUFIFO=Units Started & Completed+(Beg WIP×% to complete)+(End WIP×% complete)\text{EU}_{\text{FIFO}} = \text{Units Started \& Completed} + (\text{Beg WIP} \times \%\text{ to complete}) + (\text{End WIP} \times \%\text{ complete})
Cost per EU uses only current-period cost. FIFO separates beginning WIP from current production.
Joint cost allocation methods
1. Physical units: allocate by relative output quantities.
2. Sales value at split-off: allocate by relative sales value at split-off point.
3. NRV: NRVi=Final Sales Valuei−Separable Costsi\text{NRV}_i = \text{Final Sales Value}_i - \text{Separable Costs}_i; allocate joint cost by relative NRV.
4.
Activity-based costing rate
ABC Rate per Activity=Cost of Activity PoolTotal Cost Driver Activity\text{ABC Rate per Activity} = \dfrac{\text{Cost of Activity Pool}}{\text{Total Cost Driver Activity}}
Product cost = direct materials + direct labor + sum over activities of (rate ×\times driver consumption). Reduces cost distortion vs single-rate volume-based costing.
Economic order quantity
EOQ=2DSH\text{EOQ} = \sqrt{\dfrac{2DS}{H}}
D = annual demand, S = order (setup) cost per order, H = holding cost per unit per year.
At EOQ, total ordering cost equals total holding cost.
Number of Orders=D/EOQ\text{Number of Orders} = D/\text{EOQ}; Cycle Time=EOQ/D\text{Cycle Time} = \text{EOQ}/D.
Reorder point and safety stock
ROP=(Avg Daily Demand×Lead Time in Days)+Safety Stock\text{ROP} = (\text{Avg Daily Demand} \times \text{Lead Time in Days}) + \text{Safety Stock}
Safety stock = z×σLTDz \times \sigma_{LTD} where z is z-score for desired service level (e.g., 1.65 for 95%) and σLTD\sigma_{LTD} is std dev of lead-time demand.
JIT and lean inventory concepts
JIT: zero inventory targets; pull system; small lot sizes; close supplier partnerships; high quality emphasis (defects halt the line).
Lean: eliminate seven wastes (transportation, inventory, motion, waiting, overprocessing, overproduction, defects). Value-stream mapping. Continuous improvement (kaizen).
Theory of constraints throughput accounting
Throughput Contribution=Revenue−Totally Variable Costs (TVC)\text{Throughput Contribution} = \text{Revenue} - \text{Totally Variable Costs (TVC)}
TVC = direct materials only (labor and OH treated as period costs).
Five focusing steps: identify constraint, exploit, subordinate, elevate, repeat. Manage to the bottleneck.
Service department cost allocation
Direct method: allocate service dept costs directly to operating depts; ignore service-to-service.
Step-down (sequential): allocate one service dept fully first, then next, etc. No reciprocal recognition.
Reciprocal: solve simultaneous equations; full recognition of service-to-service. Most accurate.
Cost of quality four categories
1. Prevention: training, design for quality, supplier certification.
2. Appraisal: inspection, testing, quality audits.
3. Internal failure: rework, scrap, downtime (detected before shipment).
4. External failure: warranty, returns, lost sales (detected by customer).
Internal Controls 8 items
COSO Internal Control framework (2013) five components
1. Control Environment (tone at the top, ethics, governance).
2. Risk Assessment (identify and analyze risks to objectives).
3. Control Activities (policies and procedures to mitigate risks).
4. Information and Communication (relevant info captured and shared).
5. Monitoring (ongoing and separate evaluations).
COSO ERM framework (2017) five components
1. Governance and Culture.
2. Strategy and Objective-Setting.
3. Performance (risk identification, assessment, prioritization, response).
4. Review and Revision.
5. Information, Communication, and Reporting.
20 underlying principles.
Three lines of defense model
Line 1: Operational management (owns and manages risk).
Line 2: Risk management, compliance, controllership functions (oversight, frameworks).
Line 3: Internal audit (independent assurance to the board).
External auditors and regulators sit outside the model. Each line reports to governing body.
Sarbanes-Oxley §302 and §404
§302: CEO and CFO must certify accuracy of financial reports and adequacy of disclosure controls. Quarterly certification.
§404: Management must assess and report on internal control over financial reporting (ICFR). Auditor must attest (for accelerated filers). Annual assessment.
Risk: inherent, residual, control
Inherent risk: risk before any controls (gross risk).
Control risk: risk that controls fail to prevent or detect misstatement.
Residual risk: risk that remains after controls (net risk).
Materiality thresholds (quantitative)
Common quantitative benchmarks (rule-of-thumb only; judgment required):
5% of pre-tax income (most common)
0.5% of total revenue
1% of total assets
5% of equity
Qualitative factors (small amounts that turn losses to gains, hide trends, affect compliance) can make even small misstatements material.
Segregation of duties (SoD)
Four incompatible functions must be separated:
1. Authorization (approve transactions).
2. Recording (post to records).
3. Custody (hold assets).
4. Reconciliation (independently verify).
No one person should perform two functions for the same transaction. Compensating controls when SoD impractical (e.g.
NIST Cybersecurity Framework five functions
1. Identify (asset management, business environment, governance, risk assessment).
2. Protect (access control, awareness training, data security).
3. Detect (anomaly detection, continuous monitoring).
4. Respond (response planning, communications, mitigation).
5.
Technology and Analytics 7 items
Data analytics four types
1. Descriptive: what happened? (dashboards, KPIs, historical summaries).
2. Diagnostic: why did it happen? (drill-down, root cause, variance analysis).
3. Predictive: what will happen? (regression, classification, forecasting).
4. Prescriptive: what should we do? (optimization, simulation, decision models).
Big data five Vs
Volume: scale of data (terabytes to petabytes).
Velocity: speed of generation and processing (real-time vs batch).
Variety: structured, semi-structured, unstructured (text, images, logs).
Veracity: data quality and trustworthiness.
Value: usefulness of insights extracted.
Pearson correlation coefficient
r=∑(xi−xˉ)(yi−yˉ)∑(xi−xˉ)2∑(yi−yˉ)2r = \dfrac{\sum(x_i - \bar{x})(y_i - \bar{y})}{\sqrt{\sum(x_i - \bar{x})^2 \sum(y_i - \bar{y})^2}}
Range −1-1 to +1+1. Measures linear association only. r=0r = 0 means no LINEAR relationship (could still have nonlinear pattern). r2r^2 is coefficient of determination.
Decision tree expected value
At each decision node, compute expected value of each branch as ∑pi×outcomei\sum p_i \times \text{outcome}_i. Roll back from end nodes.
Path that maximizes expected payoff (or minimizes expected cost) is the optimal decision.
Sensitivity analysis: vary probabilities or payoffs and observe whether optimal choice changes.
Sensitivity, scenario, and simulation analysis
Sensitivity: change ONE variable at a time; observe effect on outcome (NPV, profit). What-if.
Scenario: change a CONSISTENT SET of variables (e.g., recession scenario shifts revenue down AND costs up).
Altman Z-score (manufacturing public firms)
Z=1.2X1+1.4X2+3.3X3+0.6X4+1.0X5Z = 1.2 X_1 + 1.4 X_2 + 3.3 X_3 + 0.6 X_4 + 1.0 X_5
X1=WC/TAX_1 = \text{WC/TA}, X2=RE/TAX_2 = \text{RE/TA}, X3=EBIT/TAX_3 = \text{EBIT/TA}, X4=MV Equity/BV LiabX_4 = \text{MV Equity/BV Liab}, X5=Sales/TAX_5 = \text{Sales/TA}.
Z > 2.99: safe. 1.81 < Z < 2.99: grey zone. Z < 1.81: distress.
Data governance dimensions
Accuracy: data reflects reality.
Completeness: required fields present.
Consistency: same data agrees across systems.
Timeliness: available when needed.
Validity: conforms to defined rules and formats.
Uniqueness: no unwarranted duplicates.
Integrity: relationships maintained across tables and time.

Frequently Asked Questions

Is the CMA Part 1 formula sheet free?
Yes. The full CMA Part 1 formula sheet is free, with no signup, no email, and no credit card required. 70 formulas across 6 topics, all rendered with the same KaTeX math notation used in the FreeFellow study app.
Will there be a printable PDF version?
A printable PDF is rolling out shortly. In the meantime, the inline page below is print-friendly: most browsers print clean copies via the Print menu (the navigation, footer, and download CTA are hidden in print).
What's covered on the CMA Part 1 formula sheet?
Every formula is grouped by official syllabus topic, with the formula in math notation plus a one-line note on when to use it (or a watch-out from CAIA, CFA, or other prep-provider commentary). Coverage is calibrated to the 2026 syllabus and refreshed when the corpus changes.
What is FreeFellow's relationship with IMA?
No. FreeFellow is not affiliated with the IMA or any examination body. This is an independent study aid covering the published syllabus.
What else is free at FreeFellow for CMA Part 1 candidates?
The full question bank with detailed solutions, mixed practice, readiness tracking, lessons (where available), and the formula sheet are all free forever. Fellow ($59/quarter or $149/year per track) unlocks timed mock exams, spaced-repetition flashcards, performance analytics, AI essay grading, and a personalized study plan.
Practice CMA Part 1 questions free →

Formula sheets for other exams

Exam P Exam FM Exam FAM Exam SRM Exam ALTAM Exam ASTAM CFA Level I CFA Level II CFA L3 Portfolio Mgmt CFA L3 Private Wealth CFA L3 Private Markets CFP

About FreeFellow

FreeFellow is an AI-native exam prep platform for actuarial (SOA & CAS), CFA, CFP, CPA, CAIA, GARP FRM, IRS Enrolled Agent, IMA CMA, and FINRA / NASAA securities licensing candidates — built around modern AI as a core capability rather than as a bolt-on. Every lesson ships with AI-narrated audio. Every constructed-response item has a copy-to-AI prompt builder so candidates can paste their answer into their own ChatGPT or Claude for self-graded feedback. Fellow members get instant AI grading on essays against the official rubric (currently CFA Level III, expanding to other essay-bearing sections).

The 70% you need to pass — question bank, written solutions, lessons, formula sheet, mixed practice, readiness tracking — is free forever, with no trial period and no credit card. Become a Fellow ($59/quarter or $149/year per track) to unlock mock exams, flashcards with spaced repetition, performance analytics, AI essay grading, and a personalized study plan.