CMA Final Syllabus 2019
Updated on Sep 19, 2019 - 5:13 p.m. IST by Ridhi.Khurana
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CMA Final Syllabus 2019- The Institute of Cost Accountants of India (ICMAI), formerly known as Institute of Cost and Works Accountants of India (ICWAI) has provided the CMA Final 2019 syllabus on the ICWA website. There are CMA Final subjects- topics provided along with the topics covered thereunder. Thus, candidates aspiring for the December 2019 session of exams should first check CMA Final exam pattern, followed by the CMA Final syllabus 2019. Knowing the topics that are to be studied for an exam gives a distinct path that the candidate has to stick with so that all efforts to head towards the right direction. As per the CMA Final 2019 exam schedule, the exams will be conducted between December 10-17, 2019 with CMA Final subjects distributed on the alternate days to provide ease for candidates. Hence, it's the right time for students to frame a preparation strategy for the upcoming session that can be proceeded with after referring to the CMA Final exam pattern and syllabus as contained in the article below.

CMA Final 2019 Syllabus

ICMAI officials have provided the CMA Final syllabus 2019 in a very detailed manner which was introduced in 2016 (latest one).There total eight CMA Final subjects which are distributed into two groups, i.e. Group 3 and Group 4 respectively. All the CMA Final subjects 2019 are distributed into specified number of sections. These sections cover some of the topics and sub-topics as well which brings a sense of clarity amongst the candidates as to what topic holds more relevance. The table below contains CMA Final syllabus comprising of major topics and sub-topics covered thereunder for all 8 of the CMA Final subjects 2019:

CMA Final Subjects and Syllabus

CMA Final Group III

CMA Final Subjects

Topic and Weightage

Sub Topic

Paper 13- CORPORATE LAWS & COMPLIANCE (CLC)

Section A: The Companies Act, 2013 (60%)

1. The Companies Act, 2013 – rules, regulations prescribed there under with special reference to:

  • Company Formation and Conversion

  • Investment and loans

  • Dividends

  • Accounts and Audit

  • Board of Directors & Managerial Personnel

  • Board Meetings and Procedures

  • Inspection, Inquiry and investigation

  • Compromises, arrangements and amalgamations

  • Prevention of oppression and mismanagement

  • Revival and Rehabilitation of sick Industrial Companies

  • Corporate winding up and dissolution

  • Companies Incorporated outside India

  • Offences and Penalties

  • National Company Law Tribunal and Special Courts

2. Insolvency and Bankruptcy Code, 2016


Section B: Other Corporate Laws (25%)

3. SEBI Laws and Regulation

4. The Competition Act, 2002

5. Foreign Exchange Management Act, 1999

6. Laws related to Banking Sector

7. Laws related to Insurance Sector


Section C: Corporate Governance (15%)

8. Corporate Governance

9. Social, Environmental and Economic Responsibilities of Business.

Paper 14- STRATEGIC FINANCIAL MANAGEMENT (SFM)

Section A: Investment Decisions (25%)

1. Investment Decisions, Project Planning and Control

2. Evaluation of Risky Proposals for Investment decisions

3. Leasing Decisions



Section B: Financial Markets and Institutions (20%)

4. Institutions in Financial Markets

5. Instruments in Financial Market

6. Capital Markets

7. Commodity Exchange


Section C: Security Analysis and Portfolio Management (25%)

8. Security Analysis & Portfolio Management including Equity Research


Section D: Financial Risk Management (30%)

9. Financial Risks

10. Financial Derivatives - Instruments for Risk Management

11. Financial Risk Management in International Operations

Paper 15- STRATEGIC COST MANAGEMENT- DECISION MAKING (SCMD)

Section A: Cost Management (20%)

1. Cost Management

(a) Developments in Cost Management

(b) Cost Control and Cost Reduction


Section B: Strategic Cost Management Tools Techniques (50%)

2. Decision Making Techniques

3. Standard Costing in Profit Planning

4. Activity Based Cost Management – JIT and ERP

5. Cost of Quality and Total Quality Management


Section C: Strategic Cost Management- Application of Statistical Techniques in Business Decisions (30%)

6. Application of Operation Research and Statistical Tools in Strategic Decision Making

Paper 16- DIRECT TAX LAWS AND INTERNATIONAL TAXATION (DIT)

Section A: Advanced Direct Tax Laws (50%)

1. Assessment of Income and Computation of Tax Liability of Various Entities

2. Tax Management, Return and Assessment Procedure

3. Grievance Redressal

4. Penalties and Prosecutions

5. Business Restructuring

6. Different aspect of Tax Planning

7. CBDT & Other Authorities

8. E-Commerce Transaction and Liability in Special Cases

9. Income computation and Disclosure Standards (ICDS)

10. Black Money Act, 2015


Section B: International Taxation (30%)

11. Double Taxation and Avoidance Agreements (DTAA) [Sec. 90, 90A and 91]

12. Transfer Pricing


Section C: Case Study Analysis (20%)


CMA Final GROUP IV

Paper 17- CORPORATE FINANCIAL REPORTING (CFR)

Section A: GAAP and Accounting Standards (20%)

1. Accounting Standards


Section B: Accounting of Business Combinations and Restructuring (20%)

2. Accounting for Business Combinations & Restructuring (as per Ind AS)


Section C: Consolidated Financial Statements (20%)

3. Group Financial Statements (as per Ind AS)


Section D: Developments in Financial Reporting and Other Item of Reporting (25%)

4. Recent trends in Financial Reporting

5. Valuation, Accounting and Reporting of Financial Instruments and others

6. Share Based payments transactions (Ind AS)

7. Reporting Through XBRL (eXtensible Business Reporting Language)


Section E: Government Accounting in India (15%)

8. Government Accounting

Paper 18- INDIRECT TAX LAWS AND PRACTICE (ITP)

Section A: Advanced Direct Tax and Practice (80%)

1. Goods and Services Tax Act & Rules

2. Customs Law

3. Foreign Trade Policy (FTP) 2015-2020

  • Export Promotion Schemes

  • Special Economic Zone Scheme (With Amended SEZ Rules)


Sectio B: Tax Practice and Procedures (20%)

Case Study Analysis

Paper 19- COST AND MANAGEMENT AUDIT (CMAD)

Section A: Cost Audit (35%)

1. Nature, Scope, utility and Advantages of Cost Audit

2. Companies (Cost Records & Audit) Rules,2014

3. Professional Ethics, Misconduct, Offences and Penalties

4. Cost Accounting Standards

5. Cost Auditing Assurance Standards

6. Format of Cost Audit Report – XBRL – Salient Features


Section B: Management Audit (15%)

7. Management Reporting issues under Cost Audit – Performance Appraisal Report

8. Management Audit – Meaning, Nature, Scope, Need for Management Audit and Reporting under Management Audit

9. Energy Audit, Efficiency Audit, Propriety Audit and Systems Audit 10. Evaluation of Corporate Image - Corporate Development Audit – Corporate Strategy Audit

11. Impact of environmental pollution: Social Cost Benefit Analysis, Corporate Social Audit and Safety Audit.


Section C: Internal Audit, Operational Audit and Other Related Issues (25%)

12. Concept of Internal Audit

13. Provisions of Internal Audit under The Companies Act, 2013

14. Audit Planning, Audit Programme, Audit working papers Reporting to Management

15. Receivables Audit, Audit of Hospitals, Hotels, Educational Institutions, Co-operative Societies, Self Help Groups, Non-Governnmental Organizations (NGOs), Corporations, Municipalities, Panchayats.


Section D: Case Study on Performance Analysis (25%)

Case Study on the basis of the Companies Performance for managerial decision-making

Paper 20- STRATEGIC PERFORMANCE MANAGEMENT AND BUSINESS VALUATION (SPBV)

Section A: Strategic Performance Management (50%)

1. Conceptual Framework of Performance Management

2. Performance Evaluation & Improvement Tools

3. Economic Efficiency of the firm – Performance Analysis

4. Enterprise Risk Management

(a) Risk Management

(b) Corporate Risk Management

(c) Corporate Failure


Section B: Business Valuation (50%)

5. Business Valuation Basics

6. Valuation Models

7. Valuation of Assets and Liabilities

8. Valuation in Mergers and Acquisitions

Click here to check and download the CMA Final syllabus pdf.

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CMA Final Exam Pattern 2019

The concerned authorities of Institute of Cost Accountants of India have specified the exam pattern for students appearing in the CMA Final December 2019 exams. There are eight CMA Final subjects which are divided into two groups. Each group consists of 4 subjects that the candidates have to pass in all. CMA Final exam pattern is the first thing that students should be aware of while preparing for the upcoming exams. The table below gives complete information on CMA Final exam pattern 2019 for student’s reference.

CMA Final 2019 Exam Pattern

Mode of exam

Offline

Exam Type

Objective and Descriptive

Total CMA subjects

8 papers

Total Groups

2 groups (4 subjects per group)

Maximum Marks

100 per paper

Total Questions

8 questions in each paper

Time Duration

3 hours per paper

Medium of Exam

English

CMA Final Study Material 2019

The official ICWA website provides for CMA Final study material for candidates aspiring for upcoming session of exams. There are CMA Final mock test papers and question papers as well provided for aspirants. Thus, it is advisable for students to refer all of the official material while preparing the CMA Final syllabus 2019. This will assist them acing the November 2019 session of CMA Final exams.

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