CPA Australia · CPA Program subject · Third edition
CPA Australia Strategic Management Accounting Exam
Value creation, information for decisions, budgeting and variances, project management, performance management and value-management tools. Multiple-choice questions plus worksheet items with numeric answers, 195 minutes, open book, scaled score with 540 of 900 to pass.
Time
195 minutes
Book
Open book
Did not pass, S2 2025
27.5%
Module weights
From the third edition outline on cpaaustralia.com.au. Our diagnostics and mock papers draw questions in these proportions.
1.Introduction to strategic management accounting
10%2.Information for decision making
15%3.Planning, budgeting and forecasting
22%4.Project management
13%5.Performance management
23%6.Tools for creating and managing value
17%
5 practice questions
Original questions, one or two per module, with the explanation and the paragraph each answer rests on. The full bank of 200 questions, the diagnostic and your wrong-question list are in the free dashboard.
Wombat Mining Ltd's shares traded at $8.00 on 1 July 2025 and at $8.60 on 30 June 2026. During the year the company paid dividends of $0.40 per share. Ignoring tax and any reinvestment of dividends, what is the total shareholder return for the year ended 30 June 2026, measured on the opening share price?
Try a worksheet item
The Strategic Management Accounting exam asks you to type figures into a grid. Enter amounts the way you would in a spreadsheet — commas and a minus sign or brackets for negatives both work — then check each cell.
At 30 June 2026 Quokka Freight Pty Ltd is deciding whether to replace its warehouse management system. The new system costs $720,000 for software and implementation and $60,000 for staff training, both payable immediately. The old system can be sold immediately for $30,000. A consultant's review of the old system, costing $45,000, was paid for in May 2026. The new system will save $260,000 a year in labor costs and incur license fees of $50,000 a year; these cash flows arise at the end of each of the next five years. At the end of year five the new system is expected to be sold for $40,000. The discount rate is 10%. Use these factors: five-year annuity factor at 10%, 3.791; present value factor for year five at 10%, 0.621. Ignore tax. Complete the cost-benefit schedule.
Enter whole dollars. Enter every amount as a positive number; the row labels show whether an amount is an outlay or a benefit.
| Item | Amount ($) |
|---|---|
| Net initial outlay at 30 June 2026 (outlays less sale proceeds of the old system) | |
| Net annual cash benefit, years 1 to 5 | |
| Present value of the net annual cash benefits | |
| Present value of the sale proceeds at the end of year 5 | |
| Net present value of replacing the system |
Frequently asked questions
How long is the CPA Australia Strategic Management Accounting exam?
195 minutes. It is multiple-choice questions plus worksheet items with numeric answers, open book. Study guide, printed notes and your own calculator.
What does the Strategic Management Accounting exam weight most heavily?
Module 5, Performance management (23%), and Module 3, Planning, budgeting and forecasting (22%). The third edition outline publishes a weighting for every module; the table on this page lists them all.
What score do I need to pass Strategic Management Accounting?
CPA Australia reports a scaled score from 100 to 900, and 540 is a pass. The raw mark behind it is not published. In Semester 2 2025, 27.5% of candidates did not pass Strategic Management Accounting, according to CPA Australia's exam report as republished by KnowledgEquity.
What are worksheet items in the Strategic Management Accounting exam?
Case-based items where you type numeric answers into a grid instead of choosing an option, such as elimination entries or a schedule. Each cell is marked. Our practice includes worksheet items in the same format, with the correct figure shown beside any cell you miss.
Other CPA Program subjects
Exam rules from CPA Australia . EstatePass is not affiliated with CPA Australia; questions are our own, written from public standards and legislation.