CMA Study Group

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  • 1.  Calculations

    Posted 05-02-2019 09:02 AM
    Hi all-

    From your exam and study experience, if the question does not state a "365 day year" or "360 day year," which do you assume? 

    Most of the questions in my study material (Gleim) specifically state the number of days to use for a calculation, but I have come across a few questions that do not state this and a 365 day value is used for the correct answer. Is it safe to say that unless stated, use 365?

    Thanks for your input!


  • 2.  RE: Calculations

    Posted 05-09-2019 01:17 PM
    Dear Madisen Sagen

    Greetings for the day,

    For calculating different ratios, we shall use 365 days in a year unless otherwise specifically mentioned in the question to use 360 days in a year.
    IMA suggests to use 365 days in all the ratios calculation unless mentioned or provided in the question itself.


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    Sushil Jindal
    Financial Advisor
    Batra Deepak & Associates India Pvt Ltd
    Raipur Chhattisgarh (India)
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