Cost and Management Accountants are professionals trained in areas such as financial analysis, budgeting, forecasting, cost management, and performance evaluation. It is administered by the Institute of Cost Accountants of India (ICMAI). Its three levels constitute CMA CAT or Foundation, Intermediate, and Final. The Intermediate stage builds on foundational concepts and prepares the students to tackle challenges in financial, cost, and managerial concepts. A strong grip over the syllabus helps the students to excel in both exams and professional practice.
WHAT IS THE CMA INTERMEDIATE
The CMA Intermediate is the second stage in the CMA course. It can be approached after CMA CAT or CMA Foundation, or as Direct Entry.
OVERVIEW OF THE CMA INTERMEDIATE SYLLABUS
The CMA Intermediate is divided into two groups of 4 papers each. The overview of the CMA Intermediate Syllabus is as follows :
GROUP-I
PAPERS
CMA INTERMEDIATE
PASS MARK
Paper-5
Business Laws and Ethics
40/100
Paper-6
Financial Accounting
40/100
Paper-7
Direct taxation(section A)
40/100
Indirect taxation (section- B)
Paper-8
Cost Accounting
40/100
TOTAL
200/400
GROUP-II
Paper-9
Operations Management and Strategic Management
40/100
Paper-10
Corporate Accounting and Auditing
40/100
Paper-11
Financial Management and Business Data Analytics
40/100
Paper-12
Management Accounting
40/100
TOTAL
200/400
GROUP-WISE STRUCTURE OF CMA INTERMEDIATE SYLLABUS
The group-wise focus areas can be found below :
1)Group 1 Focus Area
·Commercial Laws, Industrial Laws, Corporate Laws, and Ethics
·Basic Accounting Concepts and Financial Statements
·Basics and application of Direct and Indirect Tax
·Costing Fundamentals and Techniques
2)Group 2 Focus Area
·Business Operations and Strategy
·Corporate Accounting and Auditing concepts
·Financial management and concepts
·Management accounting
SUBJECTS COVERED IN CMA INTERMEDIATE GROUP 1
The subjects covered in Group 1 of CMA Intermediate are as follows:
PAPER NUMBER
PAPER NAME
SUBJECTS
Paper 5
Business Laws and Ethics
Section A: Commercial Laws
Section B: Industrial Laws
Section C: Corporate Laws
Section D: Business Ethics
Paper 6
Financial Accounting
Section A: Accounting Fundamentals
Section B: Accounting for Special Transactions
Section C: Preparation of Financial Statements
Section D: Partnership Accounts
Section E: Lease, Branch and Departmental Accounts etc
Section F: Accounting Standards
Paper 7
Direct and Indirect Taxation
Section A: Direct Taxation
Section B: Indirect Taxation
Paper 8
Cost Accounting
Section A: Introduction to Cost Accounting
Section B: Methods of Costing
Section C: Cost Accounting Techniques
SUBJECTS COVERED IN CMA INTERMEDIATE GROUP 2
The subjects covered in Group 2 of CMA Intermediate are as follows:
PAPER NUMBER
PAPER NAME
SUBJECTS
Paper 9
Operations Management and Strategic Management
Section A: Operations Management
Section B: Strategic Management
Paper 10
Corporate Accounting and Auditing
Section A: Corporate Accounting
Section B: Auditing
Paper 11
Financial Management and Business Data Analytics
Section A: Financial Management
Section B: Business Data Analytics
Paper 12
Management Accounting
Section A: Introduction To Management Accounting
Section B: Activity-Based Costing
Section C: Decision-Making Tools
Section D: Standard Costing And Variance Analysis
Section E: Forecasting, Budgeting And Budgetary Control
Section F: Divisional Performance Measurement
Section G: Responsibility Accounting
Section H: Decision Theory
DETAILED TOPICS UNDER EACH CMA INTERMEDIATE PAPER: SYLLABUS WEIGHTAGE AND MARKS DISTRIBUTION
GROUP 1
PAPER 5 : BUSINESS LAWS AND ETHICS (100 MARKS)
Module No.
Module Description
Weight
Section A: Commercial Laws
30%
1
Introduction to Law and Legal System in India
5%
2
Indian Contracts Act, 1872
10%
3
Sale of Goods Act, 1930
5%
4
Negotiable Instruments Act, 1881
5%
5
Indian Partnership Act, 1932
5%
6
Limited Liability Partnership Act, 2008
Section B: Industrial Laws
15%
7
Factories Act, 1948
10%
8
Payment of Gratuity Act, 1972
9
Employees Provident Fund and Miscellaneous Provisions Act, 1952
10
Employees' State Insurance Act, 1948
11
The Code on Wages, 2019
5%
Section C: Corporate Laws
40%
12
Companies Act, 2013
40%
Section D: Business Ethics
15%
13
Business Ethics and Emotional Intelligence
15%
PAPER 6 : FINANCIAL ACCOUNTING (100 MARKS)
Module No.
Module Description
Weight
Section A: Accounting Fundamentals
15%
1
Accounting Fundamentals
15%
Section B: Accounting for Special Transactions
10%
2
Bills of Exchange, Consignment, Joint Venture
10%
Section C: Preparation of Financial Statements
20%
3
Preparation of Final Accounts of Commercial Organisations, Not-for-Profit Organisations and from Incomplete Records
20%
Section D: Partnership Accounts
20%
4
Partnership Accounts
20%
Section E: Lease, Branch and Departmental Accounts etc
15%
5
Lease Accounting
15%
6
Branch (including Foreign Branch) and Departmental accounts
7
Insurance Claim for Loss of Stock and Loss of Profit
8
Hire Purchase and Instalment Sale Transactions
Section F: Accounting Standards
20%
9
Accounting Standards
20%
PAPER 7 : DIRECT AND INDIRECT TAXATION (100 MARKS)
Module No.
Module Description
Weight
Section A: Direct Taxation
50%
1
Basics of Income Tax Act
10%
2
Heads of Income
25%
3
Total Income and Tax Liability of Individuals & HUF
15%
Section B: Indirect Taxation
50%
4
Concept of Indirect Taxes
5%
5
Goods and Services Tax (GST) Laws
35%
6
Customs Act & Rules
10%
PAPER 8 : COST ACCOUNTING (100 MARKS)
Module No.
Module Description
Weight
Section A: Introduction to Cost Accounting
40%
1
Introduction to Cost Accounting
5%
2
Cost Ascertainment – Elements of Cost
15%
3
Cost Accounting Standards (CAS 1 to CAS 24)
10%
4
Cost Book Keeping
10%
Section B: Methods of Costing
30%
5
Methods of Costing
30%
Section C: Cost Accounting Techniques
30%
6
Cost Accounting Techniques
30%
GROUP 2
PAPER 9 : OPERATIONS MANAGEMENT AND STRATEGIC MANAGEMENT (100 MARKS)
Module No.
Module Description
Weight
Section A: Operations Management
60%
1
Operations Management - Introduction
5%
2
Operations Planning
5%
3
Designing of Operational Systems and Control
5%
4
Production Planning and Control
20%
5
Productivity Management and Quality Management
5%
6
Project Management
15%
7
Economics of Maintenance and Spares Management
5%
Section B: Strategic Management
40%
8
Introduction
10%
9
Strategic Analysis and Strategic Planning
10%
10
Formulation and Implementation of Strategy
10%
11
Digital Strategy
10%
PAPER 10 : CORPORATE ACCOUNTING AND AUDITING (100 MARKS)
Module No.
Module Description
Weight
Section A: Corporate Accounting
50%
1
Accounting for Shares and Debentures
10%
2
Preparation of the Statement of Profit and Loss and Balance Sheet (As Per Schedule III of Companies Act, 2013)
10%
3
Cash Flow Statement
10%
4
Accounts of Banking, Electricity and Insurance Companies
10%
5
Accounting Standards
10%
Section B: Auditing
50%
1
Basic Concepts of Auditing
10%
2
Provisions Relating to Audit under Companies Act, 2013
30%
3
Auditing of Different Types of Undertakings
10%
PAPER 11 : FINANCIAL MANAGEMENT AND BUSINESS DATA ANALYTICS (100 MARKS)
Module No.
Module Description
Weight
Section A: Financial Management
80%
1
Fundamentals of Financial Management
5%
2
Institutions and Instruments in Financial Markets
10%
3
Tools for Financial Analyses
15%
4
Sources of Finance and Cost of Capital
10%
5
Capital Budgeting
15%
6
Working Capital Management
15%
7
Financing Decision of a Firm
10%
Section B: Business Data Analytics
20%
8
Introduction to Data Science for Business Decision-making
5%
9
Data Processing, Organisation, Cleaning and Validation
5%
10
Data Presentation: Visualisation and Graphical Presentation
5%
11
Data Analysis and Modelling
5%
PAPER 12: MANAGEMENT ACCOUNTING (100 MARKS)
Module No.
Module Description
Weight
Section A: Introduction to Management Accounting
5%
1
Introduction to Management Accounting
5%
Section B: Activity-Based Costing
10%
2
Activity-Based Costing
10%
Section C: Decision-Making Tools
30%
3
Marginal Costing
30%
4
Applications of Marginal Costing in Short-Term Decision Making
5
Transfer Pricing
Section D: Standard Costing and Variance Analysis
15%
6
Standard Costing and Variance Analysis
15%
Section E: Forecasting, Budgeting and Budgetary Control
