CMA Intermediate Syllabus 2021

Paper 5: Financial Accounting (FAC)

Section A- Accounting – Basics

Fundamentals of Accounting

25%

Accounting for Special Transactions

Section B- Preparation of Financial Statements

Preparation of Final Accounts of Profit Oriented organizations and Non-Profit Organizations

40%

Partnership Accounts

Section C- Self Balancing of Ledgers, Royalties, Hire Purchase & Installment System, Branch &

Departmental Accounts

Self-Balancing Ledgers

20%

Royalties, Hire-Purchase and Installment System

Branch and Departmental Accounts

Section D- Accounting in Computerised Environment and Standards

Overview of Computerised Accounting

15%

Accounting Standards (Specified only)

Paper 6: Laws and Ethics

Section A- Commercial Laws

Laws of Contracts (Advanced level)

30%

Laws relating to Sale of Goods (Advanced level)

Negotiable Instruments Act,1881 (Advanced Level)

Indian Partnership Act, 1932

Indian Partnership Act, 1932

Section B- Industrial Laws

Factories Act, 1948

25%

Payment of Gratuity Act, 1972

Employees Provident Fund and Miscellaneous Provisions Act, 1952

.Employees State Insurance Act, 1948

Payment of Bonus Act, 1965

Minimum Wages Act, 1948

Payment of Wages Act, 1936

Pension Fund Regulatory and Development Authority Act, 2013

Section C- Corporate Law

Companies Act, 2013

35%

Section D- Ethics

Business Ethics

10%

Paper 7- Direct Taxation (DTX)

Section A- Income Tax Act Basics 10%

Introduction to Income Tax Act, 1961

10%

Income is not part of Total Income

Section B- Head of Income, Computation of Total Income and Tax

Heads of Income and Computation of Total Income

70%

Clubbing Provisions and the Set-off and Carry forward of Losses

Assessment of Income and tax liability of different people

Section C- Tax Management, Administrative Procedures and ICDS

TDS, TCS and Advance Tax

20%

Administrative Procedures

Income Computation and Disclosure Standards – (ICDS)

Paper 8- Cost Accounting (CA)

Section A- Introduction to Cost Accounting

Cost Ascertainment – Elements of Cost

40%

Cost Accounting Standards

Cost Bookkeeping

Methods of Costing

30%

Cost Accounting Techniques

Marginal Costing

30%

Standard Costing & Variance Analysis

Budget and Budgetary Control (simple problems only)

Paper 9- Operation Management & Strategic management (OMSM)

Section A- Operations Management (70%)

Operations Management – Introduction

15%

Operations Planning

Designing of Operational Systems and Control

35%

Production Planning and Control

Productivity Management and quality management

Project Management

20%

Economics of Maintenance and spares management

Section B- Strategic Management

Strategic Management Introduction

30%

Strategic Analysis and Strategic Planning

Formulation and Implementation of Strategy

Paper 10- Cost and Management Accounting, Financial Management

Section A- Cost, Management Accounting and Financial Management

Cost and Management Accounting – Introduction

50%

Decision Making Tools

Budgeting and Budgetary Control

Standard Costing and Variance Analysis

Learning Curve

Section B- Financial Management

Introduction to Financial Management

50%

Tools for Financial Analysis and Planning

Working Capital Management

Cost of Capital, Capital Structure Theories, Dividend Decisions

Capital Budgeting – Investment Decisions

Paper 11- Indirect Taxation (ITX)

Section A- Cannons of Taxations – Indirect Tax GST

80%

Section B- Customs Laws

Basic Concepts

20%

Types of Duties

Valuation under Customs

Import and Export Procedure

Customs Rules, 2017

Paper 12- Company Accounts and Audit (CAA)

Section A- Accounts of Joint Stock Companies (50%)

Accounting of Shares and Debentures

25%

Presentation of Financial Statements

Cash Flow Statement

Section B- Auditing (50%)

Accounts of Banking, Electricity and Insurance Companies

25%

Accounting Standards

Mode of exam

60% objective, 40% subjective

Number of papers

8

Maximum marks/paper

100

Total duration

3 hours

Medium of exam

English