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This E-book provides complete details of ICMAI CMA including the three stages of CMA, their eligibility criteria, admission process, syllabus, fee structure, and career options.
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Get UpdatesThe Institute of Cost Management Accountants of India (ICMAI) has opened the CMA Final June 2024 registration window. Candidates wishing to appear CMA Final 2024 exam in June will be required to complete their registration before January 31, 2024. The institute has released the complete schedule of CMA Final June 2024 exams. The CMA Final exams for June 2024 session will be conducted from June 11 to 18, 2024.
New: CMA Dec 2023 result verification window
Latest: CMA Final 2024 registration link | CMA Final complete guide
Don't Miss: CMA Final previous year papers
Students can fill the CMA Final 2024 exam form online till April 10, 2024. The CMA Final admit card will be released tentatively 10 days before the date of exam.
The CMA Final exam is the third and last level of the Certified Management Accountant course. The CMA Final exam is conducted twice a year: Once in June and then again in December. The exam dates have been notified by the Institute. The Institute of Cost Accountants of India (ICMAI) conducts the national-level CMA Foundation exam in an online centre-based mode.
According to the paper pattern, the CMA Final exam is divided into two groups - Group III and Group IV. Each group has four papers. To qualify for the exam, candidates have to qualify for all 8 papers.
| Full Exam Name | CMA Final |
| Conducting Body | THE INSTITUTE OF COST ACCOUNTANTS OF INDIA |
| Frequency of Conduct | 2 times a year |
| Exam Level | National Level Exam |
| Languages | English, Hindi |
| Mode of Application | Online |
| Mode of Exam | Online |
| Exam Duration | 3 Hours |
Upcoming Dates and Events
11 Jun, 2024
Exam - June session- Corporate and Economic Laws (P-13) | Mode: Online
12 Jun, 2024
Exam - June session- Cost and Management Audit (P-17) | Mode: Online
13 Jun, 2024
Exam - June session- Strategic Financial Management (P-14) | Mode: Online
14 Jun, 2024
Exam - June session- Corporate Financial Reporting (P-18) | Mode: Online
15 Jun, 2024
Exam - June session- Direct Tax Laws and International Taxation (P-15) | Mode: Online
16 Jun, 2024
Exam - June session- Indirect Tax Laws and Practice (P-19) | Mode: Online
17 Jun, 2024
Exam - June session- Strategic Cost Management (P-16) | Mode: Online
18 Jun, 2024
Exam - June session- Electives: (i) Strategic Performance Management and Business Valuation (P-20A), (ii) Risk Management in Banking and Insurance (P-20B), (iii) Entrepreneurship and Start up (P-20C) | Mode: Online
23 Aug, 2024
Result - June session | Mode: Online
Past Dates and Events
20 Apr, 2024
Application Correction - June session- last date | Mode: Online
11 Apr, 2024 - 17 Apr, 2024
Late Fee Application - June session last date (with late fee of Rs.500/-) | Mode: Online
10 Apr, 2024
Application - June session- last date | Mode: Online
The Institute of Cost Accountants of India (ICMAI) officially prescribes the CMA Final eligibility criteria on its official website. Before registering for the CMA final exam 2024, candidates should check and fulfil the following eligibility requirements-
should have qualified CMA Intermediate exam in the penultimate term
should have a valid CMA registration number
Should have completed prescribed training of the CMA Final course
Should not be debarred from appearing in CMA Final course examination
Note- Those who have passed CMA Intermediate exam in the June session will not be allowed to sit for CMA Final December session.
Mode of Application : Online
Mode of Payment : Net Banking | Credit Card | Debit Card | NEFT | Other
Registration of CMA Final is open throughout the year. Candidates interested in registering for the CMA Final exam should keep the registration cutoff dates in mind. CMA Final registration for June 2024 session is January 31, 2024.
Registration Cutoff Dates
| Term | Last date |
|---|---|
For June term | January 31 of same calendar year |
For December term | July 31 of the same calendar year |
*can be extended by ICMAI if required
Step 1 - Visit the official website of ICMAI - icmai.in/studentswebsite
Step 2 - Click on the link "Online Admission"
Step 3 - Select the option "Apply for Final" and generate login credentials
Step 4 - Fill the CMA Foundation application form; upload documents and make payment
Step 5 - Download the confirmation receipt and save it for future reference
The fee for CMA Final registration is 25,000 and can be paid in two instalments.
| Oral | Postal | ||
|---|---|---|---|
Option I (Without instalment) | Option II (With Installment) | Option I (Without instalment) | Option II (With Installment) |
Rs. 25000 | Rs. 15000 Rs. 10000 | Rs. 25000 | Rs. 15000 Rs. 10000 |
ICMAI has currently opened the CMA exam form window for June 2024 session. Students can fill the CMA Final exam form June 2024 till April 10, 2024. Only those candidates who fill out the CMA Final exam form are allowed to appear for the exam. Candidates have the option to appear either in a single group or both groups in a single session. Along with this, candidates have to select their CMA Final exam centre 2024 preferences while filling out the exam form.
Level | Group | Fees (Rs.) |
CMA Final | III or IV | 1,400 |
Both III and IV | 2,800 |
The companies act, 2013-rules, regulations prescribed there under with special reference to |
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| Company formation and conversion: (i) Incorporation of private companies, public companies, company limited by guarantee and unlimited companies and their conversions/ reconversion/ re-registration |
| Company formation and conversion: (ii) Nidhi companies, mutual benefit funds and producer companies-concept, formation, membership, functioning, dissolution, (iii) formation of not-for-profit making companies |
| Company formation and conversion: (iv) Procedure relating to foreign companies carrying on business in India, (v) conversion of LLPs into private limited companies and vice versa |
| Investment and loans: (i) Procedure for inter-corporate loans, investments, giving off guarantee and security, (ii) acceptance of deposits, renewal, repayment, default and remedies |
| Dividends: (i) Profits and ascertainment of divisible profits, (ii) declaration and payment of dividend, (iii) unpaid and unclaimed dividend-treatment and transfer to investor education and protection fund |
| Accounts and audit: (i) Maintenance of books of accounts, (ii) statutory auditor, special auditor and cost auditor-appointment, resignation, removal, qualification, disqualification, rights, duties and liabilities |
| Accounts and audit: (iii) Companies auditor report order (CARO) rules |
| Board of directors and managerial personnel: (i) Directors and managerial personnel-appointment, reappointment, resignation, removal, (ii) payment of remuneration to directors and managerial personnel and disclosure |
| Board of directors and managerial personnel: (iii) Powers of board of directors and restrictions on the powers of directors, (iv) obtaining din, (v) compensation for loss of office, (vi) waiver of recovery of remuneration |
| Board of directors and managerial personnel: (vii) Making loans to directors, disclosure of interest of a director, holding of office or place of profit by a director/ relative |
| Board meetings and procedures: (i) Board meetings, minutes, and registers, (ii) powers of the board, (iii) corporate governance and audit committee, (iv) duties and liabilities of directors, (v) powers related to political contributions |
| Inspection, inquiry, and investigation |
| Compromises, arrangements, and amalgamations |
| Prevention of oppression and mismanagement: (i) Majority rule but minority protection, (ii) prevention of oppression and mismanagement |
| Revival and rehabilitation of sick industrial companies |
| Corporate winding up and dissolution: Kinds of winding up-powers of the court and official liquidator |
| Companies incorporated outside India |
| Offences and penalties |
| National company law tribunal and special courts |
Insolvency and bankruptcy code, 2016 |
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| An introduction |
| Corporate insolvency resolution process |
| Liquidation of a corporate person |
SEBI laws and regulation |
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| The securities and exchange board of India act, 1992-rules, regulations and guidelines issued there under clause 49 and SEBI (issue of capital and disclosure regulations), 2018 |
| The securities contracts (regulation) act, 1956 |
The competition act, 2002 |
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| Competition-meaning, objectives, extent, and applicability |
| Competition commission of India |
| Areas affecting competition |
Foreign exchange management act, 1999 |
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| Exports, imports and foreign funds under deferred payment, ECB route, loans and export remittance and import remittance |
Laws related to banking sector |
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| The banking regulation act, 1949 |
| The securitization and reconstruction of financial assets and enforcement of security interest act, 2002 |
| The prevention of money laundering act, 2002-role of cost accountants in anti-money laundering (AML) audits to check tax evasion and transfer of funds |
Laws related to insurance sector |
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| The insurance act, 1938 |
| The insurance regulatory and development authority act, 1999 |
Corporate governance |
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| Overview-issues and concepts |
| Corporate governance practices/ codes in India |
| corporate governance in family business |
| Corporate governance in state-owned business-the MOU system |
Social, environmental, and economic responsibilities of business |
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| National voluntary guidelines on social, environmental, and economic responsibilities of business |
| Corporate social responsibility-nature of activities; evaluation of CSR projects |
| E-governance |
Investment decisions, project planning, and control |
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| Estimation of project cash flow |
| Relevant cost analysis for projects |
| Project appraisal methods-DCF and non-DCF techniques |
| Capital rationing |
| Social cost benefit analysis |
Evaluation of risky proposals for investment decisions |
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| Investment decisions under uncertainties |
| Effect of inflation on capital budgeting decisions |
| Sensitivity analysis, certainty equivalent approach, decision tree analysis, standard deviation in capital budgeting, risk adjusted discount rate, options in capital budgeting |
Leasing decisions |
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| Lease financing-evaluation of lease vs buy options |
| Break-even lease rental determination |
| Cross border leasing, sale, and lease back |
Institutions in financial markets |
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| Reserve Bank of India, commercial banks, NBFCs |
| Insurance companies, pension funds |
Instruments in financial market |
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| Money market instruments-call money, treasury bills, commercial bills, commercial paper; certificate of deposits, repo, reverse repo and promissory notes, government securities, bonds, valuation of bonds, price yield relationship |
| Hedge funds |
| Mutual funds-computation of NAV and evaluation of mutual fund’s performance |
Capital markets |
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| Primary and secondary markets and its instruments |
| Optionally convertible debentures, deep discount bonds |
| Rolling settlement, clearing house operations |
| Dematerialization, re-materialization and depository system |
| Initial public offering (IPO)/ follow on public offer (FPO); book building |
| Insider trading |
| Credit rating-credit rating agencies in India |
Commodity exchange |
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| Regulatory structure, design of markets |
| Issues in agricultural, non-agricultural markets, product design, spot price and present practices of commodities exchanges |
| Intermediaries in the commodity exchanges and clearing house operations, risk management related issues |
| Commodity options on futures and its mechanism |
Security analysis and portfolio management including equity research |
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| Security analysis: Fundamental analysis, economic analysis, industry analysis, company analysis, technical analysis, momentum analysis, arguments and criticisms |
| Market indicators, support and resistance level, patterns in stock price |
| Statistic models: Moving averages, bollinger bands |
| Theories on stock market movements: Dow Jones theory |
| Portfolio management: Meaning, objectives and basic principles |
| Portfolio management theories: Efficient market hypothesis, Markowitz model, random walk theory, CAPM, APT, sharpe index |
| Portfolio management: Construction of a portfolio, computing the portfolio total risk, classification of risk into systematic and unsystematic, minimization of portfolio risk, monitoring the risk and return of a portfolio |
| Portfolio analysis: Security and capital market line, beta, levered, and unlevered beta |
Financial risks |
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| Credit risk, liquidity risk, asset based risk , operational risk |
| Foreign investment risk, market risk |
Financial derivatives-instruments for risk management |
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| Forward and futures: Meaning and difference between forwards and future, stock futures, hedging through futures and benefits of future market, components of future price, index based futures, margins in the derivatives market |
| Options: Meaning, types of options (call and put), put call parity theory, determination of option premium, strategies in options market-spread, bull spread, bear spread, butterfly spread, combination, straddle, strangle, strips and straps |
| Options: Strategies in options market-valuation of options using-option equivalent, stock equivalent, binomial tree approach, risk neutral and black-scholes model |
| Swaps and swaptions: Meaning, types, features, benefits of swaps, interest rate swaps |
| Interest rate derivatives: Meaning, interest rate caps, interest rate collars, forward rate agreements |
Financial risk management in international operations |
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| Sources of foreign currency, debt route, depository receipts, American depository receipts (ADRs)-sponsored, unsponsored, global depository receipts (GDRs), warrants, foreign currency convertible bonds (FCCBs), Euro issues, Euro commercial paper |
| Euro convertible bonds, note issuance facility, participating notes, foreign direct investment |
| Foreign exchange market: Exchange rate determination-exchange rate forecasting-purchasing power parity-interest rate parity |
| Exchange rate risk management: Forex hedging tools, exposure netting, currency forward, cross currency roll over, currency futures, options, money market hedge, asset-liability management |
| Foreign investment analysis: International portfolio investment-international capital budgeting |
Cost management |
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| Developments in cost management: (i) Life cycle costing, (ii) target costing, (iii) Kaizen costing, (iv) value analysis and value engineering, (v) throughput costing, (vi) business process re-engineering, (vii) backflush accounting |
| Developments in cost management: (viii) Lean accounting, (ix) socio economic costing |
| Cost control and cost reduction: Basics, process, methods, and techniques of cost reduction programme |
Decision making techniques |
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| Marginal costing: Differential costing, CVP analysis, profit volume graphs, contribution approach |
| Decisions involving alternative choices: Optimum utilization of resources, make or buy, evaluation of orders, multiple scarce resource problems, product sales pricing, etc |
| Pricing decisions and strategies: New product pricing, use of costs in pricing, sensitivity analysis in pricing decisions, monopoly pricing vs. competitive pricing, bottom line pricing |
| Costing of service sector: Methods, pricing, performance measurement |
| Transfer pricing: Objectives, methods (cost based, market price based, negotiated pricing), advantages and disadvantages, criteria for setting transfer prices, transfer price in different situations |
| Transfer pricing: Situations causing conflicts and resolving the conflicts |
| Relevant cost analysis: Relevant cost, irrelevant costs-sunk or historical cost, committed cost, absorbed cost, situations where fixed costs become relevant for decision-making and its related implications |
| Profitability analysis: Product wise/ segment wise/ customer wise |
Standard costing in profit planning |
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| Variance analysis: Investigation of variances, planning and operating variances, controllable/ non-controllable variances, relevant cost approach to variance analysis; variance analysis under marginal costing and absorption costing; activity ratios |
| Variance analysis: Application of budgetary control and standard costing in profit planning, standard costing vs budgetary control, reconciliation of actual profit with standard profit and /or budgeted profit |
| Uniform costing and inter-firm comparison |
Activity based cost management-JIT and ERP |
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| Activity based cost management: Concept , purpose, benefits, stages, relevance in decision-making and its application in budgeting, responsibility accounting, traditional vs ABC system-comparative analysis |
| JIT: introduction, benefits, use of JIT in measuring the performance |
| ERP and its applications in strategic cost management |
| Bench marking |
Cost of quality and total quality management |
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| TQM: Basics, stages, principles, control, corrective actions |
| PRAISE: Steps, problems, implementation |
| PARETO analysis |
| Quality costs |
Application of operation research and statistical tools in strategic decision making |
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| Learning curve |
| Linear programming (formulation only) |
| Assignment |
| Transportation |
| Simulation |
| Network analysis-CPM/ PERT |
Assessment of income and computation of tax liability of various entities |
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| Individual including non-resident |
| Company |
| Trust |
| Mutual association |
Tax management, return, and assessment procedure |
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| Return of income |
| Assessment procedure |
| Interest and fees |
| Survey, search, and seizure |
| Refund, demand, and recovery |
Grievance redressal |
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| Appeal |
| Rectification |
| Revision |
| Settlement commission |
| Advance ruling |
Penalties and prosecutions |
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Business restructuring |
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| Amalgamation |
| Demerger |
| Slump sale |
| Conversion of sole proprietary business to company |
| Conversion of firm into company |
| Conversion of private limited company/ unlisted public company into LLP |
Different aspect of tax planning |
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CBDT and other authorities |
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E-commerce transaction and liability in special cases |
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Income computation and disclosure standards (ICDS) |
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Black money act, 2015 |
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| Introduction to black money act |
| Highlights of black money act |
Double taxation and avoidance agreements (DTAA) [Sec. 90, 90A, and 91] |
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Transfer pricing |
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| Transfer pricing including specified domestic transactions |
| Application of generally accepted cost accounting principles and techniques for determination of arm’s length price |
| Advance pricing agreement (APA): Concept and application |
| Safe harbour rules and their capitalisation |
Accounting standards |
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| Generally accepted accounting principles in India |
| Overview of accounting standards (AS) |
| International financial reporting standards |
| Overview of Ind AS |
Accounting for business combinations and restructuring (as per Ind AS) |
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| Relevant terms, types of merger, methods of accounting, treatment of goodwill arising on merger, purchase consideration and settlement |
| Accounting in books of vendor/ transferor and transferee |
| Accounting for investment in subsidiary |
| Accounting for mergers/ acquisitions (including chain holdings, cross holdings, multiple holdings) |
| Corporate financial restructuring, reconstruction schemes, de-merger, reverse merger |
| Notes to accounts and related disclosures under amalgamation |
Group financial statements (as per Ind AS) |
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| Concept of a group, purposes of consolidated financial statements, consolidation procedures, non-controlling interest, goodwill, treatment: Pre-acquisition profit and post-acquisition profit and concept of fair value at the time of acquisition |
| Consolidation with two or more subsidiaries, consolidation with foreign subsidiary |
| Consolidated income statement, balance sheet and cash flow statements for group of companies |
| Impact on group financial statements at the point of acquisition |
| Treatment of investment in associates in consolidated financial statements, compare and contrast acquisition and equity methods of accounting |
| Treatment of investment in joint ventures in consolidated financial statements |
Recent trends in financial reporting |
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| Sustainability reporting, triple bottom line reporting |
| Corporate social responsibility reporting (CSR reporting) |
| Fair value measurement |
| Integrated reporting (IR) |
| Business responsibility reporting |
Valuation, accounting, and reporting of financial instruments and others |
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| Recognition and valuation of Financial Instruments (Ind AS) |
| GST accounting |
| NBFC: Provisioning norms and accounting |
| Valuation of shares |
| Valuation of goodwill |
Share based payments transactions (Ind AS) |
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Reporting through XBRL (extensible business reporting language) |
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Government accounting |
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| General principles and comparison with commercial accounting |
| Role of comptroller and auditor general of India |
| Role of public accounts committee, review of accounts |
| Government accounting standards issued by government accounting standards advisory board (GASAB) |
| Government accounting and reporting |
Goods and services tax act and rules |
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| Introduction: (i) What is GST, (ii) need for GST in India-(a) cascading effect of tax, (b) non-integration of VAT and service tax causes double taxation, (c) no CENVAT credit after manufacturing stage to a dealer |
| Introduction: (ii) Need for GST in India-(d) cascading of taxes on account of levy of CST inter-state purchases, (e) the existing indirect tax framework in India suffer from various duties and taxes at central as well as at state level |
| Introduction: (ii) Need for GST in India-(f) non availment of seamless ITC, (g) tedious process of issuance and collection of CST forms and losses suffered due to them, (h) sharing of data between centre and states and various boards |
| Introduction: (iii) One nation-one tax, (iv) 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: (iv) Dual GST model-(d) integrated goods and services tax act, 2017 (IGST) |
| Introduction: (v) Methodology of flow of revenue between centre and states, goods and services tax network (GSTN)-(a) the functions of the GSTN (i.e. role assigned to GSTN), (b) constitution (101st amendment) act, 2016 GST council |
| Introduction: (v) Methodology of flow of revenue between centre and states, goods and services tax network (GSTN)-(c) guiding principle of the GST council, (d) functions of the GST council, (e) body of GST law, (iv) definitions under CGST laws |
| Levy and collection of tax: (i) Scope of supply (section 7 of CGST act, 2017), (ii) section 7(1)(a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental |
| Levy and collection of tax: (ii) Section 7(1)(a) all forms of supply of goods or services or both such as lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business |
| Levy and collection of tax: (iii) Section 7(1)(b), import of services for a consideration whether or not in the course or furtherance of business |
| Levy and collection of tax: (iv) Section 7(1)(c), 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 |
| Levy and collection of tax: (iv) Section 7(1)(c), 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 |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(a) undivided share in goods, (b) job work, (c) transfer of business assets |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(d) renting of immovable property, (e) construction service, (f) information technology software |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(g) agreeing to the obligation to refrain from an act or to tolerate an act or a situation, or to do an act |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(h) transfer of the right to use any goods for any purpose, (i) composite supply |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(j) supply of goods, by any unincorporated association or body of persons to a member thereof for cash |
| Levy and collection of tax: (v) Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in schedule II-(j) deferred payment or other valuable consideration |
| Levy and collection of tax: (vi) 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 |
| Levy and collection of tax: (vi) Non-taxable supplies under CGST act, 2017-(b) section 7(2)(b) such activities or transactions undertaken by the state government or any local authority in which they are engaged as public authorities |
| Levy and collection of tax: (vi) Non-taxable supplies under CGST act, 2017-(b) section 7(2)(b) as may be notified by the government on the recommendations of the council |
| Levy and collection of tax: (vii) 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 |
| Levy and collection of tax: (viii) Composite and mixed supplies (section 8 of CGST act, 2017)-(a) meaning of composite and mixed supplies, (b) composite supply, (c) mixed supply, (d) levy and collection |
| Levy and collection of tax: (viii) Composite and mixed supplies (section 8 of CGST act, 2017)-(e) composition levy exemption from tax person liable to pay tax |
| Levy and collection of tax: (ix) Forward charge, (x) reverse charge, (xi) person who are required to pay tax under section 9(5) of CGST act (i.e. electronic commerce operator), (xii) exempt supply, non taxable supply and non-GST supply |
| Levy and collection of tax: (xiii) Rates of GST |
| Classification of goods and services under-GST reading the rate schedule |
| Time of supply under GST: Time of supply in case of goods, time of supply in case of services, time of supply in case of change in rate of tax |
| Value of supply under GST |
| Place of supply under GST: Need for determination of place of supply, place of supply in case of goods, place of supply in case of services, place of supply in case of online information database access and retrieval (OIDAR) services |
| Input tax credit: Eligibility for taking input tax credit (ITC), blocked credits, method of reversal of credits, input tax credit in special circumstances, input tax credit in respect of goods sent for job-work |
| Input tax credit: Distribution of credit by input service distributor (ISD), recovery of input tax credit |
| Registration under GST law: 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 |
| Registration under GST law: Cancellation vs revocation of registration |
| Tax invoice, credit and debit notes and other documents under GST |
| Accounts, other records under GST |
| Payment of tax: Computation of tax liability and payment of tax, interest on delayed payment of tax |
| TDS and TCS under GST: TDS (tax deducted at source), TCS (tax collected at source) |
| Returns: Sample of proposed new returns under GST, GSTR 1, GSTR 3B |
| Matching concept under GST: What is matching?, GSTR 2A |
| Exports, imports and refunds under GST: Export of goods and services, import of goods and services, zero rated supply, deemed export, refunds in case of exports, refunds in case of inverted duty structure, cash ledger refunds |
| Assessments, inspection, search, and seizure |
| Audit under GST: Audit by revenue authorities, audit by professionals |
| The goods and services tax (compensation to states) act, 2017 |
| Advance concepts under GST: Introduction, demand and recovery, offence, and penalties, appeals and revision, advance ruling, miscellaneous provisions |
| Job work under GST: Definitions, procedure of job work |
| E-waybills under GST |
| Transitional provisions |
| Anti-profiteering |
| Replying to department notices under GST-sample cases |
| Operation of GST portal-a walkthrough |
Customs law |
|---|
| Basic concepts: Introduction, definitions, circumstances of levy, circumstance under which no duty will be levied, tax planning vs tax management, remission/ abatement of duty-pilfered goods, damaged or deteriorated goods, lost or destroyed goods |
| Basic concepts: remission/ abatement of duty-derelict, flotsam, etc, denatured or mutilated goods, re-imported goods |
| Classification under customs: Customs tariff act, 1975, general rules for the interpretation of import tariff |
| Types of duties: Introduction, types of duties, when can provisional measures are imposed, refund of anti-dumping duty, project imports and eligible projects |
| Valuation under customs: Introduction, valuation of imported goods: Transaction value, related persons, valuation in case goods are sold to related persons, adjustments for costs and services for valuation of imported goods |
| Valuation under customs: Meaning of identical goods, similar goods, transaction value of identical goods and similar goods, deductive value, computed value and residual method of valuation, valuation of export goods |
| Import and export procedures: Import procedures, export procedures, deemed exports, stores, transit and transhipment of goods, high seas sales |
| Warehousing: Licensing of public warehouses, private warehouses and special warehouses, warehousing bond, warehousing period, control over warehoused goods, owner’s right to deal with warehoused goods, manufacture in warehouse |
| Warehousing: Removal of goods from warehouse, improper removal of goods from warehouse |
| Duty drawback: Duty drawback allowable on re-export of duty paid goods, re-export of imported goods (drawback of customs duties) rules, 1995, duty drawback on imported materials used in the manufacture of goods which are exported |
| Duty drawback: Customs and central excise duties drawback rules, 2017, interest on drawback and prohibition or regulation of duty drawback, certification |
| Baggage and postal articles: Introduction, baggage, postal articles, import of samples, baggage rules, 2016 |
| Administrative and other aspects: Introduction, appointment of officers of customs, appointment of customs ports, airports, etc, first and second appraisement system, self-assessment of customs duty, refund of customs duty, risk management system |
| Administrative and other aspects: Penalties under customs, offences and prosecutions under customs, integrated declaration under Indian customs single window project |
| Customs (import of goods at concessional rate of duty) rules, 2017 |
| Search, seizure, confiscation, and miscellaneous provisions: Search of persons, premises, and conveyances, seizure of goods, documents and things, confiscation of goods, conveyances and penalty on improper, importation and exportation |
| Search, seizure, confiscation, and miscellaneous provisions: Burden of proof and redemption fine, other miscellaneous provisions |
| Comprehensive issues under customs (including case studies): Introduction, adjudicating authority, offences, appeals under customs, authority for advance ruling |
Foreign trade policy (FTP) 2015-2020 |
|---|
| Basic concepts of foreign trade policy |
| FTP-objectives, administration, and legal framework |
| FTP-certain definitions |
| General provisions regarding imports and exports |
| Export promotion schemes: Merchandise exports from India scheme (MEIS), service exports from India scheme (SEIS), advance authorization scheme, duty free import authorization (DFIA) scheme, export promotion capital goods scheme (EPCG) |
| Export promotion schemes: EOU, EHTP, STP, and BTP schemes, deemed exports |
| Special economic zone scheme (with amended SEZ rules) |
Case study analysis |
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Nature, scope, utility, and advantages of cost audit |
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Companies (cost records and audit) rules, 2014 |
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Professional ethics, misconduct, offences, and penalties |
|---|
Cost accounting standards |
|---|
Cost auditing and assurance standards |
|---|
Format of cost audit report-XBRL-salient features |
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Management reporting issues under cost audit-performance appraisal report |
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Management audit-meaning, nature, scope, need for management audit and reporting under management audit |
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Energy audit, efficiency audit, propriety audit and systems audit |
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Evaluation of corporate image-corporate development audit-corporate strategy audit |
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Impact of environmental pollution: Social cost benefit analysis, corporate social audit and safety audit |
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Concept of internal audit |
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Provisions of internal audit under companies act, 2013 |
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Audit planning, audit programme, audit working papers, reporting to management |
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Receivables audit, audit of hospitals, hotels, educational institutions, co-operative societies, self help groups, non-governmental organizations (NGOs), corporations, municipalities, Panchayats |
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Case study on the basis of the companies performance for managerial decision-making with reference to |
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| Application of ratios for assessment of performance |
| Waste multiplier |
| Utilities consumption i.e., power, fuel, etc |
| Capacity determination and utilization |
| Value addition |
| Inventory valuation |
| Abnormal events such as strike, lock-out and other factors |
| Profitability analysis |
| Reconciliations of financial and cost records i.e., profit, taxation |
Conceptual framework of performance management |
|---|
| Performance management-concept, components |
| Performance, productivity, and efficiency |
| Financial performance analysis |
| Supply chain management (SCM) |
| Customer relationship management (CRM) and customer profitability analysis |
Performance evaluation and improvement tools |
|---|
| Balanced scorecard |
| Du-pont analysis |
| Benchmarking and bench trending |
| Six sigma |
| Statistical quality control (SQC) |
| Plan-do-check-action (PDCA) |
| Management information system |
| Online analytical processing tools |
| Tools to improve productivity and profitability-MRP I, MRP II, and ERP |
| Total productivity management |
| Total quality management |
Economic efficiency of the firm-performance analysis |
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| Profit-maximization under different market structure |
| Market factors affecting Pricing decisions |
Enterprise risk management |
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| Risk management: (i) Risk management-introduction and objectives, (ii) risk measurement-pooling, diversification, total loss distribution, ruin probability, (iii) risk analysis-risk mapping and risk indicators |
| Corporate risk management: (i) Enterprise risk management, (ii) risk retention or reduction, (iii) value at risk (VAR), (iv) introduction to capital adequacy norms in banking industry |
| Corporate failure: (i) Corporate distress analysis-causes, (ii) corporate distress prediction models: Edward Altman's model, NCAER models |
Business valuation basics |
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| Meaning of value, valuation and business valuation |
| Principles of valuation, valuation bias, types of values |
| Role of business valuation in corporate finance and business acquisitions |
Valuation models |
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| Non-discounted cash flow method-accounting based, earnings based, cash flow based |
| Discounted cash flow method |
| Other methods of valuation |
Valuation of assets and liabilities |
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| Valuation of inventory |
| Valuation of investments-bonds and shares |
| Valuation of intangibles-copyrights, goodwill, brand |
| Valuation of human resources |
| Value added, economic value added, market value added |
| Valuation of liabilities |
Valuation in mergers and acquisitions |
|---|
| Meaning of business mergers and acquisitions and types |
| Application of valuation models for business mergers and acquisitions |
| Determination of exchange ratio(SWAP)or purchase consideration |
| Synergistic benefits and distribution of synergy gains |
| Recognition of interest of various stakeholders |
| Selection of appropriate cost of capital for valuation |
| Impact of merger on value of share |
Interdisciplinary | Impactful & Viable solutions to real business problems | Industry-Ready | Last Date: 30th Apr’24
Candidates preparing for the CMA Final exam 2024 should refer to the official study material and plan their preparation strategy accordingly. ICMAI provides official study material in online mode on its official website. The CMA Final study material is available free of cost in pdf format and can be downloaded anytime.
The CMA Final study material provides complete information on the CMA Final syllabus, previous year’s question papers, as well as mock test papers. Along with the study material, candidates should also refer to the official question papers of previous years. These act as a good guide to the candidates during CMA exam preparation.
Details such as mode of exam, duration, number of questions asked, marks allotment, and related are mentioned under the exam pattern of CMA Final 2024. CMA Final exam will be conducted in an online centre-based mode. The exam is worth 100 marks with no negative marking.
| Particulars | Details |
|---|---|
Mode of exam | Online centre based exam |
Conducting body | Institute of Cost Management Accountant of India (ICMAI) |
Type of questions | Both objective and descriptive |
Exam duration | 3 hours |
Total marks | 100 marks |
Number of questions | 120 in each paper |
Marking scheme | No negative marking |
| No. of papers | Eight |
No. of groups | Two - Group III and Group IV |
Frequency of exam | Twice in a year |
Candidates should practice solving CMA final mock test papers to enhance their speed and accuracy while taking the CMA final exam. These mock test papers help identify the candidate's strengths and weaknesses and work on them accordingly. By solving these mock tests, candidates get familiarized with the CMA final exam environment which helps them gain confidence to appear for the exam. Candidates can download the mock tests from the links mentioned in the table given below.
CMA Final subjects | Mock test paper link Set 1 | Solution link set 1 | Mock test paper link Set 2 | Solution link set 2 |
Corporate Laws & Compliance | ||||
Strategic Financial Management | ||||
Strategic Cost Management – Decision Making | ||||
Direct Tax Laws and International Taxation | ||||
Corporate Financial Reporting | ||||
Indirect Tax Laws & Practice | ||||
Cost & Management Audit | ||||
Strategic Performance Management and Business Valuation |
The Institute of Cost Accountants of India (ICMAI) will release the CMA Final admit card for June 2024 in online mode tentatively 10 days before the commencement of exams. The CMA Final admit card 2024 is an important document that all candidates are required to download beforehand. Entry inside the exam centre without a valid CMA Final admit card is strictly prohibited.
Go to the official website and click on the download link for admit card
Now click on “Final course” from the drop-down menu
Enter your CMA Final 2024 registration number and click on the "Show Status" option
The CMA Final 2024 admit card will appear on the screen
Download the admit card and save a copy for future references
The CMA Final exam 2024 will be conducted in an online centre-based mode in more than 100 designated exam centres in the country. While filling out the CMA Final 2024 exam application form, candidates will be able to choose exam centre preferences.
1 | Muscat |
2 | Dubai |
3 | Bahrain |
ICMAI will announce the results of CMA Final June 2024 by August 23, 2024. Candidates who appear for the CMA Final exam 2024 will be able to check their results on the official websites- examicmai.org and examicmai.in. Candidates can access their CMA Final result by entering their registration number or roll number on the official website.
The CMA Final course is the last stage of the CMA programme. After clearing the CMA Final 2024 exam, the candidate needs to complete 3 years of practical training and a 15-day long modular training as well. The candidate will be able to apply for ICMAI membership once he/she completes these two tasks.
ICMAI has set up a minimum passing criteria for each paper of the CMA Final exam 2024. Candidates need to achieve 40% marks in each subject to clear the CMA final exam June 2024. Overall candidates need to score a minimum aggregate of 50% in all the papers to qualify for the CMA final exam. Candidates can check the cutoff for each section of the CMA final syllabus in the table mentioned below.
| CMA Final subjects | Sectional cut off | Overall Cut off |
| 13: Corporate Laws & Compliance | 40% | 50% |
| 14: Strategic Financial Management | 40% | |
| 15: Strategic Cost Management – Decision Making | 40% | |
| 16: Direct Tax Laws and International Taxation | 40% | |
| 17: Corporate Financial Reporting | 40% | |
| 18: Indirect Tax Laws & Practice | 40% | |
| 19: Cost & Management Audit | 40% | |
| 20: Strategic Performance Management and Business Valuation | 40% |
| Contacts: | 03322528065 |
| +1 More | |
| Relevant Links: | Official Website Link Click Here |
Answer:
CMA Final course is the last stage of the CMA course .
Answer:
Candidates need to secure minimum 40% marks in each paper and an aggregate of 50% to qualify the CMA Final exam.
Answer:
ICMAI will declare the CMA Final result June 2024 by August 23, 2024.
Answer:
To appear in a single group, candidates have to pay Rs. 1400. Whereas to appear in both groups in a single session, the exam fee is Rs. 2800.
CMA Final examination fee
Particulars | Fee amount | Fee amount(Overseas) |
CMA Final Group 3 or 4 | Rs 1,400 | $100 |
CMA Final Group 3 and 4 | Rs 2,800 | $100 |
Answer:
Yes, candidates who want to appear in CMA Final exam for any session should mandatorily fill the exam application form.
Answer:
CMA Final exam 2024 will be conducted in an online centre-based mode.
Answer:
The cut-off date to register for July session is January 31 unless it is extended by the institute.
Hi,
Yes the final CMA syllabus is expected to change a little for the June 2022 session. The syllabus is updated every 5 years although the changes are not very drastic. As the years go by, some chapters become obsolete and some new chapters need to be include. Thus the constant upgradation of the syllabus is to incorporate the current economic changes with the business processes.
For more details regarding the examination and syllabus click the following link:
https://icmai.in/studentswebsite/Student-index.php
All the best!
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