CMA Inter Exam Dec 2024 - Dates (Out), Exam Form (Released), Registration, Syllabus, Question Papers, Preparation Tips

Financial accounting (FAC)-preparation of financial statements: Unit 01

• Preparation of financial statements of profit oriented organizations: P and L account, balance sheet
• Preparation of financial statements of non-profit making organizations: Preparation of receipts and payments account, income and expenditure account and balance sheet
• Preparation of financial statements from incomplete records (single entry)

Financial accounting (FAC)-preparation of financial statements: Unit 02

• Admission, retirement, death, treatment of joint life policy, dissolution of partnership firms including piecemeal distribution, amalgamation of partnership firms, conversion of partnership firm into a company and sale of partnership firm to a company

Financial accounting (FAC)-self balancing ledgers, royalties, hire purchase and installment system, branch and departmental accounts: Unit 01

Financial accounting (FAC)-self balancing ledgers, royalties, hire purchase and installment system, branch and departmental accounts: Unit 02

Financial accounting (FAC)-self balancing ledgers, royalties, hire purchase and installment system, branch and departmental accounts: Unit 03

Financial accounting (FAC)-accounting in computerized environment and accounting standards: Unit 01

• Features, significance, grouping of accounts, ledger hierarchy, accounting packages, and their selection criteria

Financial accounting (FAC)-accounting in computerized environment and accounting standards: Unit 02

Laws and ethics (LNE)-commercial laws: Unit 01

• Essential elements of a contract, offer and acceptance
• Void and voidable agreements
• Consideration
• Legality of object
• E-contracts
• Constraints to enforce contractual obligations
• Quasi-contracts, contingent contracts, termination or discharge of contracts
• Special contracts: Indemnity and guarantee; bailment and pledge; laws of agency

Laws and ethics (LNE)-commercial laws: Unit 02

• Definition
• Transfer of ownership
• Conditions and warranties
• Performance of the contract of sale
• Rights of unpaid vendor
• Auction sales

Laws and ethics (LNE)-commercial laws: Unit 03

• Definition and features of negotiable instrument
• Crossing, endorsement, and material alteration
• Acceptance, assignment, and negotiation
• Rights and liabilities of parties
• Dishonor of a negotiable instrument

Laws and ethics (LNE)-commercial laws: Unit 04

• Nature of partnership
• Rights and liabilities of partners
• Formation, reconstitution, and dissolution of firms

Laws and ethics (LNE)-commercial laws: Unit 05

• Concept, formation, membership, functioning
• Dissolution

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 01

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 02

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 03

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 04

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 05

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 06

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 07

Laws and ethics (LNE)-industrial laws: Objects, scope, and applicability of the following acts: Unit 08

Laws and ethics (LNE)-corporate laws: Unit 01

• Company types, promotion, formation and related procedures i.e., sec 1 to sec 122 of companies act, 2013
• Director-role, responsibilities, qualification, disqualification, appointment, retirement, resignation, removal, remuneration and powers, directors identification number

Laws and ethics (LNE)-ethics: Unit 01

• Ethics-meaning, importance, nature, and relevance to business
• Values and attitudes of professional accountants
• Seven principles of public life-selflessness, integrity, objectivity, accountability, openness, honesty, and leadership
• Ethics in business

Direct taxation (DTX)-income tax act basics: Unit 01

• Constitutional validity
• Basic concepts and definitions
• Capital and revenue receipts
• Basis of charge and scope of total income
• Residential status and incidence of tax (excluding section 9A)

Direct taxation (DTX)-income tax act basics: Unit 02

Direct taxation (DTX)-heads of income and computation of total income and tax liability: Unit 01

• Salaries
• Income from house property
• Profits and gains of business or profession (excluding sections 42 to 44DB but including sections 43A, 43B, 43AA, 44AB, 44AD, 44ADA, and 44AE)
• Capital gains
• Income from other sources

Direct taxation (DTX)-heads of income and computation of total income and tax liability: Unit 02

• Income of other persons included in assessee’s total income
• Aggregation of income and set off and carry forward of losses
• Deductions in computing total income
• Rebates and reliefs
• Applicable rates of tax and tax liability

Direct taxation (DTX)-heads of income and computation of total income and tax liability: Unit 03

• Taxation of individual (including amount but excluding non-resident)
• Hindu undivided family (HUF)
• Firms, LLP and association of persons
• Co-operatives societies

Direct taxation (DTX)-tax management, administrative procedure and ICDS: Unit 01

• Tax deduction at source (excluding sections relevant to non-residents)
• Tax collected at source
• Advance tax

Direct taxation (DTX)-tax management, administrative procedure and ICDS: Unit 02

• Return and PAN
• Intimation
• Brief concepts of assessment u/s 140A, 143, and 144

Direct taxation (DTX)-tax management, administrative procedure and ICDS: Unit 03

• Basic concepts of ICDS

Cost accounting (CAC)-introduction to cost accounting: Unit 01

• Definition, scope, objectives and significance of cost accounting, its relationship with financial accounting and management accounting
• Cost objects, cost centers, and cost units
• Elements of cost
• Classification of costs

Cost accounting (CAC)-introduction to cost accounting: Unit 02

• Material costs: (i) Procurement of materials, (ii) inventory management and control, (iii) inventory accounting and valuation, (iv) physical verification, treatment of losses, (v) scrap, spoilage, defectives, and wastage
• Employee costs: (i) Time keeping, time booking, and payroll, (ii) labour turnover, overtime, and idle time, (iii) principles and methods of remuneration and incentive schemes, (iv) employee cost reporting and measurement of efficiency
• Direct expenses
• Overheads: (i) Collection, classification and apportionment and allocation of overheads, (ii) absorption and treatment of over or under absorption of overheads, (iii) reporting of overhead costs

Cost accounting (CAC)-introduction to cost accounting: Unit 03

Cost accounting (CAC)-introduction to cost accounting: Unit 04

• Cost accounting records, ledgers, and cost statements
• Items excluded from cost and normal and abnormal items/ cost
• Integral accounts
• Reconciliation of cost accounting records with financial accounts
• Infrastructure, educational, healthcare, and port services

Cost accounting (CAC)-methods of costing: Unit 01

• Job costing
• Batch costing
• Contract costing
• Process costing-normal and abnormal losses, equivalent production, joint and by products
• Operating costing or service costing-transport, hotel, and hospital

Cost accounting (CAC)-cost accounting techniques: Unit 01

• Marginal costing: (i) Meaning of marginal cost and marginal costing, (ii) absorption costing vs marginal costing, (iii) break-even analysis, (iv) margin of safety, (v) application of marginal costing for decision making (simple problems only)
• Standard costing and variance analysis: (i) Concept of standard cost and standard costing, (ii) advantages and limitations, (iii) computation of variance relating to material and labour costs only
• Budget and budgetary control (simple problems only): (i) Concepts, types of budgets, (ii) budgetary control vs. standard costing, (iii) advantages and limitations, (iv) preparation of budgets (simple problems only)

Operations management and strategic management (OMSM)-operations management: Unit 01

• Scope, characteristics of modern operations functions-recent trends in production/ operations management

Operations management and strategic management (OMSM)-operations management: Unit 02

• Demand forecasting, capacity planning, capacity requirement planning, facility location, facility layout, resource aggregate planning, material requirements planning, manufacturing resource planning, economic batch quantity

Operations management and strategic management (OMSM)-operations management: Unit 03

• Product design, process design-selection, product life cycle, process planning, process selection

Operations management and strategic management (OMSM)-operations management: Unit 04

• Introduction, control measures, time study, work study, method study, job evaluation, job allocation (assignment technique), scheduling queuing models, simulation and line balancing, optimum allocation of resources, lean operations, JIT
• Transportation model and linear programming technique (formulation of equations only)

Operations management and strategic management (OMSM)-operations management: Unit 05

• Measurement techniques of productivity index, productivity of employee, productivity of materials, productivity of management resources, productivity of other factors-productivity improving methods, TQM basic tools and certification, ISO standards basics

Operations management and strategic management (OMSM)-operations management: Unit 06

• Project planning, project life cycle, Gantt charts, PERT, and CPM

Operations management and strategic management (OMSM)-operations management: Unit 07

• Break down maintenance, preventive maintenance, routine maintenance, replacement of machine, spare parts management

Operations management and strategic management (OMSM)-strategic management: Unit 01

• Vision-mission and objective

Operations management and strategic management (OMSM)-strategic management: Unit 02

• Situational analysis, SWOT analysis, portfolio analysis, BCG matrices, stages in strategic planning, alternatives in strategic planning

Operations management and strategic management (OMSM)-strategic management: Unit 03

• Strategy formulation function wise (production strategy, marketing strategy, manpower strategy), structuring of organisation for implementation of strategy, strategic business unit, business process re-engineering

Cost and management accounting and financial management (CMFM)-cost and management accounting: Unit 01

• Introduction to management accounting-relationship between management accounting and cost accounting

Cost and management accounting and financial management (CMFM)-cost and management accounting: Unit 02

• Marginal Costing: Break even analysis and cost-volume-profit analysis; break-even charts and profit charts; differential cost analysis; stock valuation under marginal costing vs absorption costing; applications of marginal costing in decision making
• Transfer pricing-determination of inter-departmental or inter-company transfer price

Cost and management accounting and financial management (CMFM)-cost and management accounting: Unit 03

• Budgetary control and preparation of functional and master budgeting
• Fixed, variable, semi-variable budgets
• Zero based budgeting (ZBB)

Cost and management accounting and financial management (CMFM)-cost and management accounting: Unit 04

• Computation of variances for each of the elements of costs, sales variances, investigation of variances-valuation of stock under standard costing-uniform costing and inter-firm comparison

Cost and management accounting and financial management (CMFM)-cost and management accounting: Unit 05

• Concept of learning curve and its application

Cost and management accounting and financial management (CMFM)-financial management: Unit 01

• Meaning, objectives, scope of financial management, sources of finance, introduction to financial markets

Cost and management accounting and financial management (CMFM)-financial management: Unit 02

• Financial ratio analysis, fund flow analysis, cash flow analysis

Cost and management accounting and financial management (CMFM)-financial management: Unit 03

• Working capital management, financing of working capital

Cost and management accounting and financial management (CMFM)-financial management: Unit 04

• Meaning of cost of capital, computation of cost of capital, capital structure theories and dividend decisions theories (Walters, MM, Gordon models), leverage analysis

Cost and management accounting and financial management (CMFM)-financial management: Unit 05

• Concept of capital budgeting, non-discounted and discounted cash flow method, ranking of projects

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 01

• Introduction: (i) What is GST, (ii) one nation-one tax, (iii) Dual GST model: (a) Central goods and services tax act, 2017 (CGST), (b) state goods and services tax act, 2017 (SGST), (c) union territory goods and services tax act, 2017 (UTGST)
• Introduction: (iii) Dual GST model-(d) integrated goods and services tax act, 2017 (IGST), (iv) goods and services tax network (GSTN): (a) Functions of GSTN (i.e. role assigned to GSTN) constitution (101st amendment) act, 2016 GST council
• Introduction: (iv) Goods and services tax network (GSTN)-(b) guiding principle of the GST council, (c) functions of the GST council, (v) definitions under CGST laws

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 02

• Scope of supply (section 7 of CGST act, 2017)
• Section 7(1) (a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business
• Section 7(1)(b) of CGST act, 2017, import of services for a consideration whether or not in the course or furtherance of business
• Section 7(1)(c) of the CGST act, 2017 the activities specified in schedule I, made or agreed to be made without a consideration: (a) permanent transfer/ disposal of business assets, (b) supply between related persons or distinct persons
• Section 7(1)(c) of the CGST act, 2017 the activities specified in schedule I, made or agreed to be made without a consideration: (c) Supply to agents or by agents, (d) importation of services
• Section 7(1)(d) of the CGST act, 2017, the activities to be treated as supply of goods or supply of services as referred to in schedule II: (a) Renting of immovable property, (b) information technology software
• Section 7(1)(d) of the CGST act, 2017, the activities to be treated as supply of goods or supply of services as referred to in schedule II: (c) Transfer of the right to use any goods for any purpose, (d) composite supply
• Non-taxable supplies under CGST act, 2017: (a) Section 7(2) (a) activities or transactions specified in schedule III; (b) section 7(2)(b) such activities or transactions undertaken by the central government
• Non-taxable supplies under CGST act, 2017: (b) section 7(2)(b) such activities or transactions undertaken a state government or any local authority in which they are engaged as public authorities
• Non-taxable supplies under CGST act, 2017: (b) As may be notified by the government on the recommendations of the council
• Section 7(3) the transactions that are to be treated as: (a) A supply of goods and not as a supply of services; or, (b) a supply of services and not as a supply of goods. Composite and mixed supplies (section 8 of CGST act, 2017)
• Meaning of composite and mixed supplies, composite supply, mixed supply, levy and collection, composition levy, exemption from tax, person liable to pay tax, forward charge, reverse charge
• Person who are required to pay tax under section 9(5) of CGST (i.e. electronic commerce operator) act

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 03

• Time of supply
• Place of supply
• Value of supply
• Change in rate of tax in respect of supply of goods or services

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 04

• Eligibility for taking input tax credit (ITC)
• Blocked credits
• Method of reversal of credits
• Input tax credit in respect of goods sent for job-work
• Distribution of credit by input service distributor (ISD)

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 05

• Persons not liable for registration
• Compulsory registration
• Concept of distinct persons under GST
• Procedure for registration
• Deemed registration
• Casual taxable person
• Non-resident taxable person
• Cancellation vs revocation of registration

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 06

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 07

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 08

• Computation of tax liability and payment of tax, interest on delayed payment of tax

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 09

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 10

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 11

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 12

Indirect taxation (ITX)-canons of taxations, indirect tax GST: Unit 13

Indirect taxation (ITX)-customs laws: Unit 01

• Introduction, definitions, circumstances of levy

Indirect taxation (ITX)-customs laws: Unit 02

• Introduction
• Types of duties: (a) Basic customs duty, (b) IGST (replacement of CVD and Spl. CVD), (c) protective duties, (d) safeguard duty, (e) countervailing duty on subsidized articles, (f) anti-dumping duty

Indirect taxation (ITX)-customs laws: Unit 03

• Introduction
• Valuation of imported goods
• Valuation of export goods

Indirect taxation (ITX)-customs laws: Unit 04

• Introduction
• Import procedures (including warehousing)
• Export procedures
• Deemed exports
• Duty drawback

Indirect taxation (ITX)-customs laws: Unit 05

Company accounts and audit (CAA)-accounts of joint stock companies: Unit 01

• Issue of shares, rights issue, bonus issue, sweat equity shares, forfeiture of share, buy-back of shares
• Issue and redemption of preference shares, debentures
• Underwriting of shares and debentures

Company accounts and audit (CAA)-accounts of joint stock companies: Unit 02

• Statement of profit and loss
• Balance sheet

Company accounts and audit (CAA)-accounts of joint stock companies: Unit 03

Company accounts and audit (CAA)-accounts of joint stock companies: Unit 04

• Accounts of banking company
• Accounts of an electricity company
• Accounts of insurance company

Company accounts and audit (CAA)-accounts of joint stock companies: Unit 05

Company accounts and audit (CAA)-auditing: Unit 01

• Nature, scope, and significance of auditing
• Audit engagement, audit program, audit working papers, audit note book, audit evidence and audit report
• Internal check, internal control, internal audit industry specific

Company accounts and audit (CAA)-auditing: Unit 02

• Auditor’s qualifications, disqualifications, appointment, remuneration, removal, powers, and duties
• Cost audit, secretarial audit
• Reporting requirements under companies act, report vs certificate, contents of the reports and qualifications in the report
• Miscellaneous audit: (i) Branch audit, joint audit, (ii) audit of shares and debentures, (iii) audit of divisible profits and dividends, (iv) statutory auditors vs. internal auditors
• Miscellaneous audit: (v) auditing and assurance standards relating to audit of inventories and audit of fixed assets, (vi) auditing of different types of undertaking-education, hospital, co-operative societies, banks, trusts, municipalities, Panchayats