CMA Inter Syllabus – Latest Changes, Amendments & Updates for June & Dec 2024

CMA Inter Syllabus June 2024: In this article, you will find complete details of the CMA Inter Subjects, Chapters, Units that need to crack the CMA Inter Exam along with their chapters and topics that are applicable in the CMA Inter Syllabus June 2022. Here we mentioned clearly each and every topic in this article, please go through the complete article for more information regarding the CMA Inter Syllabus June 2024 that was released on the official website of ICMAI.

CMA Inter Syllabus Applicable for June and December 2024

ICMAI officially not yet announced the CMA Inter Syllabus applicable for June and December 2022. So Full Syllabus Details for Will be informed Soon.

List Of Subjects/Papers in CMA Inter June 2024

The candidates who want to clear the CMA Inter Exam in June 2022 need to register themselves for CMA Inter Exam before December 2021. To get complete details about CMA Inter registration you can visit our website. CMA Inter Syllabus Consists of a total of 4 Papers which we have mentioned in the below table for your reference.

Subjects in CMA Inter Syllabus

PAPER 5: FINANCIAL ACCOUNTING (FAC)

Weightage of Chapters in the Exam point of view

SECTION A: ACCOUNTING – BASICS [25 MARKS]

1. Fundamentals of Accounting

Accounting – Meaning, Scope and Significance of Accounting – Accounting Principles, Concepts and Conventions – Capital and Revenue Transactions – Depreciation – Rectification of Errors.

2. Accounting for Special Transactions Bill of Exchange – Consignment – Joint Venture – Insurance Claims (Loss of Stock and Loss of Profit).

SECTION B: PREPARATION OF FINANCIAL STATEMENTS [40 MARKS]

3. Preparation of Final Accounts of Profit Oriented Organizations, Non- Profit Organizations and from Incomplete Records

(i) Preparation of Financial Statements of Profit Oriented organizations: P&L Account, Balance Sheet.

(ii) Preparation of Financial Statements of Non-Profit making organizations: Preparaton of Receipts & Payments Account, Income & Expenditure Account and Balance Sheet.

(iii) Preparation of Financial Statements from Incomplete records (Single Entry)

4. Partnership Accounts  Admission, Retirement, Death, Treatment of Joint Life Policy, Dissolution of partnership firms including piece meal distribution, Amalgamation of partnership firms, Conversion of partnership firm into a company and sale of partnership firm to a company.

SECTION C: SELF BALANCING LEDGERS, ROYALTIES, HIRE PURCHASE & INSTALLMENT SYSTEM, BRANCH & DEPARTMENTAL ACCOUNTS [20 MARKS]

5. Self-Balancing Ledger
6. Royalty Accounts, Hire Purchase and Installment System
7. Branch and Departmental Accounts

SECTION D: ACCOUNTING IN COMPUTERIZED ENVIRONMENT AND ACCOUNTING STANDARDS [15 MARKS]

8. Computerized Accounting System – Features, Significance, Grouping of Accounts, Ledger hierarchy, Accounting Packages and their selection criteria

9. Accounting Standards (AS-1, AS-2, AS-7, AS-9, AS-6 and AS-10 has been replaced by revised AS – 10)

PAPER 6: LAWS AND ETHICS (LNE)

Weightage of Chapters in the Exam point of view

SECTION A: COMMERCIAL LAWS [30 MARKS]

1. Indian Contracts Act, 1872

(a) Essential elements of a contract, offer and acceptance

(b) Void and voidable agreements

(c) Consideration

(d) Legality of object

(e) E-contracts

(f) Constraints to enforce contractual obligations

(g) Quasi-contracts, contingent contracts, termination or discharge of contracts

(h) Special contracts: Indemnity and Guarantee; Bailment and Pledge; Laws of Agency

2. Sale of Goods Act, 1930

(a) Definition

(b) Transfer of ownership

(c) Conditions and Warranties

(d) Performance of the Contract of Sale

(e) Rights of Unpaid Vendor

(f) Auction Sales

3. Negotiable Instruments Act, 1881

(a) Definition and features of Negotiable Instrument

(b) Crossing, Endorsement and Material Alteration

(c) Acceptance, Assignment and Negotiation

(d) Rights and Liabilities of Parties

(e) Dishonor of a Negotiable Instrument

4. Indian Partnership Act, 1932

(a) Nature of Partnership

(b) Rights and liabilities of Partners

(c) Formation, Reconstitution and Dissolution of Firms

5. Limited Liability Partnership Act, 2008

(a) Concept, formation, membership, functioning

(b) Dissolution

SECTION B: INDUSTRIAL LAWS: OBJECTS, SCOPE AND APPLICABILITY OF THE FOLLOWING ACTS [25 MARKS]

6. Factories Act, 1948
7. Payment of Gratuity Act, 1972
8. Employees Provident Fund Act, 1952
9. Employees State Insurance Act, 1948
10. Payment of Bonus Act, 1965
11. Minimum Wages Act, 1948
12. Payment of Wages Act, 1936
13. Pension Fund Regulatory and Development Authority Act, 2013]

SECTION C: CORPORATE LAWS [35 MARKS]

14. Companies Act, 2013

(a) Company types, promotion, formation and related procedures i.e, Sec 1 to Sec 122 of

Companies Act, 2013

(b) Director-Role, Responsibilities, Qualification, disqualification, appointment, retirement,

resignation, removal, remuneration and powers, Directors Identification Number

SECTION D: ETHICS [10 MARKS]

15. Business Ethics

(a) Ethics – meaning, importance, nature and relevance to business

(b) Values and attitudes of professional accountants

(c) Seven principles of public life-selflessness, integrity, objectivity, accountability, openness, honesty and leadership

(d) Ethics in Business

PAPER 7: DIRECT TAXATION (DTX)

Weightage of Chapters in the Exam point of view

SECTION A: INCOME TAX ACT BASICS [10 MARKS]

1. Introduction to Income Tax Act, 1961

(a) Constitutional Validity

(b) Basic Concepts and definitions

(c) Capital and Revenue Receipts

(d) Basis of charge and scope of total income

(e) Residential Status and Incidence of Tax (excluding section 9A)

2. Incomes which do not form part of Total Income [Sec.10, 11 to 13A]

SECTION B: HEADS OF INCOME AND COMPUTATION OF TOTAL INCOME AND TAX LIABILITY [70 MARKS]

3. Heads of Income and Computation of Total Income under various heads

(a) Salaries

(b) Income from House property

(c) Profits and gains of Business or Profession (excluding 42 to 44DB but including sections 43A, 43B, 44AA, 44AB, 44AD, 44ADA and 44AE)

(d) Capital Gains

(e) Income from Other Sources

4. Clubbing Provisions, Set off and Carry forward of Losses, Deductions

(a) Income of other persons included in Assessee’s Total Income

(b) Aggregation of Income and Set off and Carry Forward of Losses

(c) Deductions in computing Total Income

(d) Rebates & Reliefs

(e) Applicable Rates of Tax and Tax Liability

5. Assessment of Income and tax liability of different persons

(a) Taxation of Individuals (including AMT but excluding Non-resident)

(b) Hindu Undivided Family (HUF)

(c) Firms, LLP and Association of Persons

(d) Co-operatives Societies

SECTION – C – TAX MANAGEMENT, ADMINISTRATIVE PROCEDURE AND ICDS [20 MARKS]

6. TDS, TCS and Advance Tax

(a) Tax Deduction at Source (excluding sections relevant to non-residents)

(b) Tax Collected at Source

(c) Advance Tax

7. Administrative procedures

(a) Return & PAN

(b) Intimation

(c) Brief concepts of Assessment u/s 140A, 143 and 144

8. Income Computation and Disclosure Standards – (ICDS)

(a) Basic Concepts of ICDS

PAPER 8: COST ACCOUNTING (CA)

Weightage of Chapters in the Exam point of view

INTRODUCTION TO COST ACCOUNTING [40 MARKS]

1. Introduction To Cost Accounting

(a) Definition, Scope, objectives and significance of cost accounting, its relationship with

financial accounting and management accounting

(b) Cost Objects, Cost centers and Cost Units

(c) Elements of cost

(d) Classification of costs

1. Cost Ascertainment – Elements of Cost

(a) Material Costs

(i) Procurement of Materials

(ii) Inventory Management and Control

(iii) Inventory Accounting & Valuation

(iv) Physical Verification, treatment of losses

(v) Scrap, spoilage, defectives and wastage

(b) Employee Costs

(i) Time keeping, Time booking and payroll

(ii) Labor Turnover, Overtime and idle time

(iii) Principles and methods of remuneration and incentive schemes

(iv) Employee cost reporting and measurement of efficiency

(c) Direct Expenses

(d) 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

1. Cost Accounting Standards (Basic Understanding only) (CAS 1 to CAS 24)
2. Cost Book Keeping

(a) Cost Accounting Records, Ledgers and Cost Statements

(b) Items excluded from cost and normal and abnormal items/cost

(c) Integral accounts

(d) Reconciliation of cost accounting records with financial accounts

(e) Infrastructure, Educational, Healthcare and Port services

 METHODS OF COSTING [30 MARKS]

2. Methods of Costing

(a) Job Costing

(b) Batch Costing

(c) Contract Costing

(d) Process Costing – Normal and abnormal losses, equivalent production, Joint and By

Products

(e) Operating Costing or Service Costing – Transport, Hotel and Hospital

COST ACCOUNTING TECHNIQUES [30 MARKS]

3. Cost Accounting Techniques (Basic Understanding only)

(A) 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)

(B) Standard Costing & 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

(C) 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)

PAPER 9: OPERATIONS MANAGEMENT & STRATEGIC MANAGEMENT (OMSM)

Weightage of Chapters in the Exam point of view

SECTION A: OPERATIONS MANAGEMENT [70 MARKS]

1. Operations Management Introduction: Scope, characteristics of modern operations functions – recent trends in production /operations management.

2. Operations Planning: Demand forecasting – capacity planning – capacity requirement planning – facility

location – facility layout – Resource aggregate planning – Material requirements planning – Manufacturing resource planning – Economic Batch quantity.

3. Designing of Operational Systems and Control: Product Design, Process design – Selection – Product Life Cycle – Process Planning – Process Selection.

4. Production Planning and Control: Introduction – Control Measures – Time study, Work study, Method study, Job Evaluation, Job Allocation (Assignment Technique), Scheduling Queuing Models, Simulation and Line Balancing – Optimum Allocaton of resources – Lean Operations – JIT – Transportation Model and Linear Programming Technique (Formulation of equations only).

5. Productivity Management and Quality Management: 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.

6. Project Management: Project planning – project life cycle – Gantt charts, PERT and CPM.

7. Economics of Maintenance and Spares Management: Break down Maintenance – Preventive Maintenance – Routine Maintenance – Replacement of Machine – Spare Parts Management.

Section B: Strategic Management [30 marks]

8. Strategic Management Introduction

Vision-Mission and objective

9. Strategic Analysis and Strategic Planning Situational Analysis – SWOT Analysis – Portfolio Analysis – BCG Matrices – Stages in Strategic Planning – Alternatives in Strategic Planning.

10. Formulation and Implementation of Strategy: Strategy formulation function wise (Production Strategy, Marketing Strategy, Man Power Strategy) – Structuring of Organisation for Implementation of strategy – Strategic Business Unit – Business Process re-engineering.

PAPER 10: COST & MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT (CMFM)

Weightage of Chapters in the Exam point of view

SECTION A: COST & MANAGEMENT ACCOUNTING: (50 MARKS)

1. Cost and Management Accounting: Introduction to Management Accounting – Relationship between Management Accounting and Cost Accounting
2. Decision-Making Tools:

(a) 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

(b) Transfer Pricing – Determination of Inter-departmental or Inter-company Transfer Price

3. Budgeting and Budgetary Control:

(a) Budgetary Control and Preparation of Functional and Master Budgeting

(b) Fixed, Variable, Semi-Variable Budgets

(c) Zero Based Budgeting (ZBB)

4. Standard Costing & Variance Analysis: 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

5. Learning Curve: Concept of Learning curve and its application

SECTION B: FINANCIAL MANAGEMENT (50 MARKS)

6. Introduction to Financial Management: Meaning – Objectives – Scope of Financial Management sources of Finance – Introduction to Financial Markets

7. Tools for Financial Analysis and Planning: Financial Ratio Analysis – Funds Flow Analysis – Cash Flow Analysis

8. Working Capital Management: Working Capital Management – Financing of Working Capital

9. Cost of Capital, Capital Structure Theories, Dividend Decisions and Leverage Analysis: Meaning of Cost of Capital – Computation of Cost of Capital – Capital Structure Theories and Dividend Decisions Theories (Walters – MM – Gordon Models) – Leverage Analysis

10. Capital Budgeting – Investment Decisions: Concept of Capital Budgeting – Non-Discounted and Discounted Cash Flow Method – Ranking of Projects.

PAPER 11: INDIRECT TAXATION (ITX)

Weightage of Chapters in the Exam point of view

Note: Subjects related to applicable statutes shall be read with amendments made from time to time.

SECTION – A : CANONS OF TAXATION – INDIRECT TAX GST

Goods and Services Tax Act & Rules

1.0 Introduction

What is GST

One Nation-One Tax

Dual GST Model

Central Goods and Services Tax Act, 2017 (CGST)

State Goods and Services Tax Act, 2017 (SGST)

Union Territory Goods and Services Tax Act, 2017 (UTGST)

Integrated Goods and Services Tax Act, 2017 (IGST)

Goods and Services Tax Network (GSTN)

Functions of GSTN (i.e. Role assigned to GSTN) Constitution (101st Amendment) Act, 2016

GST Council

Guiding principle of the GST Council

Functions of the GST Council

Definitions under CGST Laws

2.0 Levy and Collection of Tax

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, licence, 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

L Permanent transfer/disposal of business assets

L Supply between related persons or distinct persons

L Supply to agents or by agents

L Importation of Services

Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred

to in Schedule II

L Renting of Immovable Property

L Information Technology software

L Transfer of the right to use any goods for any purpose

L Composite supply

Non-taxable Supplies under CGST Act, 2017

L Section 7(2) (a) activities or transactions specified in Schedule III;

L Section 7(2)(b) such activities or transactions undertaken by the Central Government, a

State Government or any local authority in which they are engaged as public authorities,

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

3.0 Time, Value and Place of Supply

Time of supply

Place of supply

Value of supply

Change in rate of tax in respect of supply of goods or services

4.0 Input Tax Credit

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)

5.0 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

Cancellation vs. Revocation of registration

6.0 Tax Invoice, Credit and Debit Notes and other documents under GST

7.0 Accounts, Other Records

8.0 Payment of Tax

Computation of Tax liability and payment of tax, Interest on delay payment of tax

9.0 TDS & TCS under GST

10.0 Returns

11.0 Matching Concept under GST

12.0 GST Audit by Professionals

13.0 E _Waybills under GST – Basics

SECTION – B : CUSTOMS LAWS

1.0 Basic Concepts

Introduction, Definitions, Circumstances of Levy

2.0 Types of Duties

Introduction

Types of Duties

Basic customs duty

IGST (replacement of CVD and Spl. CVD)

Protective duties

Safeguard duty

Countervailing Duty on subsidized articles

Anti-dumping duty

3.0 Valuation under Customs

Introduction

Valuation of Imported Goods

Valuation of Export Goods

4.0 Import and Export Procedure

Introduction

Import Procedure (including warehousing)

Export Procedures

Deemed Exports

Duty drawback

PAPER 12: COMPANY ACCOUNTS AND AUDIT (CAA)

Weightage of Chapters in the Exam point of view

SECTION A: ACCOUNTS OF JOINT STOCK COMPANIES (50 MARKS)

1.Accounting of Shares and Debentures:

(a) Issue of shares, rights issue, bonus issue, sweat equity shares, forfeiture of share, buyback of shares

(b) Issue and redemption of preference shares, debentures

(c) Under writing of shares and debentures

2. Presentation of Financial Statements (as per Schedule III):

(a) Statement of Profit and Loss

(b) Balance Sheet

3.Cash Flow Statement (AS-3)

4.Accounts of Banking, Electricity and Insurance Companies:

(a) Accounts of Banking Company

(b) Accounts of an Electricity Company

(c) Accounts of Insurance Company

5.Accounting Standards (AS-11, 12, 15, 16, 17, 18 and 19)

SECTION B: AUDITING (50 MARKS)

6.Auditing Concepts

(a) Nature, Scope and Significance of Auditing

(b) Audit Engagement, Audit Program, Audit Working Papers, Audit Note Book, Audit Evidence and Audit Report

(c) Internal Check, Internal Control, Internal Audit-Industry Specific

7.Provision relating to Audit under Companies Act

(a) Auditor’s qualifications, disqualifications, appointment, remuneration, removal, powers and duties

(b) Cost Audit, Secretarial Audit

(c) Reporting Requirements under Companies Act, Report vs. Certificate, contents of the reports and qualifications in the report.

(d) 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

(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.

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