ABC Analysis for CMA Foundation and Intermediate Final Exams

ABC Analysis for CMA Foundation and Intermediate Final Exams

As aspiring Cost & Management Accountants, understanding importance of each subject in your curriculum is crucial for effective exam preparation. To streamline your study efforts and maximize your performance, we’ve conducted an ABC analysis of past exam attempts for the CMA Foundation and Intermediate Final levels. This analysis categorizes important chapters into three distinct groups: Category A, B, and C.

Category A consists of high-impact topics that are frequently tested and require a deep understanding.

Category B includes essential but moderately weighted subjects that are still significant for your overall success.

Finally, Category C comprises less critical topics that, while necessary to know, can be approached with a lighter focus.

CMA FOUNDATION

SUBJECTSA CATEGORY CHAPTERS(55 TO 70 MARKS)B CATEGORY CHAPTERS(25 TO 35) C CATEGORY CHAPTERS(15 TO 20 MARKS)
FUNDAMENTALS OF BUSINESS LAWS & BUSINESS COMMUNICATIONIndian Contracts Act, 1872

Sale of Goods Act, 1930
Introduction

Negotiable Instruments Act, 1881
Business Communication
FUNDAMENTALS OF FINANCIAL & COST ACCOUNTINGSECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTING:
Capital and Revenue Transactions Capital and Revenue Expenditures, Capital and Revenue Receipts

Journal (Day Books; Journal Proper Opening, Transfer, Closing, Adjustment and Rectification Entries), Ledger

Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement

Trial Balance

Adjustment Entries and Rectification of Errors
Depreciation

Accounting Treatment of Bad Debts and Provision for Doubtful Debts


Preparation of Financial Statements of Sole Proprietorship



SECTION B: FUNDAMENTALS OF COST ACCOUNTING
Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)
SECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTING:
Preparation of Financial Statements of a Not-for-Profit Organisation

Accounting for Special Transactions
SECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTING:
Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and Regulatory) and Forms of Organization

Accounting Principles, Concepts and Conventions

Accounting Cycle-Charts of Accounts and Codification Structure, Analysis of Transaction- Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and Finalisation of Accounts


SECTION B: FUNDAMENTALS OF COST ACCOUNTING
Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting

Application of Cost Accounting for Business Decisions

Definition of Cost, Cost Centre, Cost Unit and Cost Drivers

Classification of Costs

BUSINESS MATHEMATICS & STATISTICSSECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS:
Set Theory, including Venn Diagram

Indices and Logarithms (Basic Concepts)

Permutation and Combinations (Basic Concepts)

Quadratic Equations (Basic Concepts)


SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS:
Measures of Central Tendency and Dispersion

Correlation and Regression

Index Numbers and Time Series
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS:
Ratios, Variations and Proportions

Time Value of Money and Annuity – Simple and Compound Interest

Arithmetic Progression and Geometric Progression

Time and Distance


SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS:
Probability
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS:
Calculus – Application in Business

SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS:
Statistical Representation of Data
BUSINESS ECONOMICS & MANGEMENTForms of Market

Money and Banking
Basic Concepts

Economic and Business Environment
SECTION B-FUNDAMENTALS OF MANAGEMENT

CMA INTERMEDIATE

SUBJECTSA CATEGORY CHAPTERS(50 – 55 Marks)B CATEGORY CHAPTERS (30 – 35 Marks)C CATEGORY CHAPTERS (15 – 20 Marks)
BUSINESS LAWS & ETHICSSECTION C: CORPORATE LAWS

SECTION D: BUSINESS ETHICS
Indian Contracts Act, 1872

Sale of Goods Act, 1930

Negotiable Instruments Act, 1881

The Code on Wages, 2019
Introduction to Law and Legal System in India

Indian Partnership Act, 1932

Limited Liability Partnership Act, 2008

Factories Act, 1948

Payment of Gratuity Act, 1972

Employees Provident Fund and Miscellaneous Provisions Act, 1952

Employees State Insurance Act, 1948
FINANCIAL ACCOUNTINGSECTION D: PARTNERSHIP ACCOUNTS

SECTION C: PREPARATION OF FINANCIAL STATEMENTS

Hire Purchase and Installment Sale Transactions

Branch (including Foreign Branch) and Departmental Accounts

Consignment
Property Plant and Equipment (AS 10)

The Effects of Changes in Foreign Exchange Rate (AS 11)

Borrowing Costs (AS 16)

Joint Venture

Bills of Exchange

Adjustment Entries and Rectification of Errors

Cash Book, Bank Book, Bank Reconciliation Statement

Depreciation and Amortisation
Four Frameworks of Accounting (Conceptual, Legal, Institutional and Regulatory)

Accounting Principles, Concepts and Conventions

Capital and Revenue Transactions Capital and Revenue Expenditures, Capital and Revenue Receipts

Accounting Cycle-Charts of Accounts and Codification Structure, Analysis of Transaction – Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and Finalisation of Accounts

Journal (Day Books and Journal Proper Opening Entries, Transfer Entries, Closing Entries, Adjustment entries, Rectification entries), Ledger


Trial Balance (Preparation and Scrutiny)

Accounting Treatment of Bad Debts and Provision for Doubtful Debts, Provision for Discount on Debtors and Provision for Discount on Creditors

Lease Accounting

Insurance Claim for Loss of Stock and Loss of Profit

Introduction to Accounting Standards

Disclosure of Accounting Policies (AS 1)

Accounting for Government Grants (AS 12)

Accounting for Taxes on Income (AS 22)
DIRECT & INDIRECT TAXSECTION A: DIRECT TAXATION:
Residential Status and Scope of Total Income

Salaries

Profits and Gains of Business or Profession


Deductions from Gross Total Income


Advance Tax


Tax deduction at source and tax collection at source

SECTION B: INDIRECT TAXATION:
Levy and Collection of CGST and IGST

Basic concepts of Time and Value of Supply

Input Tax Credit

Computation of GST Liability

Registration
SECTION A: DIRECT TAXATION:
Income from House Property

Capital Gains

Income from Other sources


set-off and carry forward of losses

Provisions for filling return of income and self
assessment


SECTION B: INDIRECT TAXATION:
Returns and Payment of Taxes

Customs Act
SECTION A: DIRECT TAXATION:
Basics of Income Tax Act

Income of Other Person included in Assesses Total Income (Clubbing of Income)

Taxation of Individual (including AMT but excluding Non-resident) & HUF

PAN


SECTION B: INDIRECT TAXATION:
Concept of Indirect Taxes

Introduction to GST Law

E-Way Bill
COST ACCOUNTINGMarginal Costing

Standard Costing and Variance Analysis

Budget and Budgetary Control

Material Costs

Employee Costs

Overheads


Cost Accounting Standards (CAS 1 to CAS 24)

Contract Costing

Process Costing

Operating Costing

Reconciliation of Costing and Financial Profit

Integrated Accounting System
Cost Book- Keeping

Joint and By Products

Job Costing

Batch Costing

Direct Expenses

Introduction to Cost Accounting
OPERATIONS MANAGEMENT & STRATEGIC MANAGEMENTSECTION A: OPERATIONS MANAGEMENT:
Application of Operation Research – Production Planning and Control

Project Management, Monitoring and Control


SECTION B: STRATEGIC MANAGEMENT:
Strategic Analysis and Strategic Planning

Formulation and Implementation of Strategy
SECTION A: OPERATIONS MANAGEMENT:
Operations Planning

Designing of Operational Systems and Control

Productivity Management and Quality Management

Economics of Maintenance and Spares Management

SECTION B: STRATEGIC MANAGEMENT:
Digital Strategy
SECTION A: OPERATIONS MANAGEMENT:
Introduction

SECTION B: STRATEGIC MANAGEMENT:
Introduction
CORPORATE ACCOUNTING & AUDITINGSECTION A: CORPORATE ACCOUNTING:
Preparation of the Statement of Profit and Loss and Balance Sheet (As per Schedule III of Companies Act, 2013)

Cash Flow Statement

Inventories (Ind AS 2)

Employee Benefits (Ind AS 19)

Earnings per Share (Ind AS 33)

SECTION B: AUDITING:
Provisions Relating to Audit under Companies Act, 2013
SECTION A: CORPORATE ACCOUNTING:
Issue of Shares, Forfeiture of Shares, Rights Issue, Bonus Issue

Redemption of Preference Shares, Issue and Redemption of Debentures

Underwriting of Securities

Events after the Reporting Period (Ind AS 10)

Provisions, Contingent Liabilities and Contingent Assets (Ind AS 37)


SECTION B: AUDITING:
Audit of Banks

Audit of Co-operative Societies

Audit of Local Self-Government

Audit Risk, Assessment of Audit Risk, Internal Control, Internal Check, Internal Audit- Industry Specific, Interplay between Internal Audit and Statutory Audit, Risk Based Internal Audit, Internal Financial Control and Internal Control over Financial Reporting

Audit Sampling. Audit Techniques and Analytical Procedure (Including Scrutiny of Trial Balance and Grouping Schedules)
SECTION A: CORPORATE ACCOUNTING:
Employee Stock Option and Stock Purchase Scheme, Buy-back of Shares

Conceptual Framework

Specified Ind AS with Comparative Provisions under AS

Presentation of Financial Statements (Ind AS 1)


SECTION B: AUDITING:
Nature, Scope, Objectives and Significance of Auditing

Brief Introduction to Auditing Standards

Audit Engagement, Audit Program, Audit Documentations, Audit Evidence, Audit Note Book

Application of Technology in Audit and Audit Trail


Audit of Educational Institutions

Audit of Healthcare Organisations

Audit of Organisations in Hospitality Sector
FINANCIAL MANAGEMENT & BUSINESS DATA ANALYTICSSECTION A: FINANCIAL MANAGEMENT
Working Capital Management

Capital Budgeting

Cost of Capital


SECTION B: BUSINESS DATA ANALYTICS:
Introduction to Data Science for Business Decision-making

Data Processing, Organisation, Cleaning and Validation


SECTION A: FINANCIAL MANAGEMENT
Tools for Financial Analyses

Financing Decisions of a Firm


SECTION B: BUSINESS DATA ANALYTICS:
Data Presentation: Visualisation and Graphical Presentation
SECTION A: FINANCIAL MANAGEMENT
Fundamentals of Financial Management

Institutions and Instruments in Financial Markets


SECTION B: BUSINESS DATA ANALYTICS:
Data Analysis and Modelling
MANAGEMENT ACCOUNTINGSECTION E: FORECASTING, BUDGETING AND BUDGETARY CONTROL

Marginal Costing

Applications of Marginal Costing in Short Term Decision Making

Transfer Pricing

SECTION D: STANDARD COSTING AND VARIANCE ANALYSIS
SECTION B: ACTIVITY BASED COSTING


SECTION F: DIVISIONAL PERFORMANCE MEASUREMENT

SECTION G: RESPONSIBILITY ACCOUNTING
SECTION H: DECISION THEORY

SECTION A: INTRODUCTION TO MANAGEMENT ACCOUNTING

CMA FINAL

SUBJECTSA CATEGORY CHAPTERS(50 – 55 Marks)B CATEGORY CHAPTERS(30 – 35 Marks)C CATEGORY CHAPTERS (15 – 20 Marks)
CORPORATE & ECONOMICS LAWSThe Companies Act, 2013

Insolvency and Bankruptcy Code, 2016

Corporate Governance, Social Responsibility and Sustainability

SEBI Laws and Regulations

Foreign Exchange Management Act, 1999

Laws and Regulations related to Cyber Security and Data Privacy

The Competition Act, 2002

Specific Legal Provisions related to MSME

Laws and Regulations related to Anti-Money Laundering

Laws and Regulations related to Insurance Sector

Laws and Regulations related to Banking Sector
STRATEGIC FINANCIAL MANAGEMENTInvestment Decisions, Project Planning and Control

Evaluation of Risky Proposals for Investment Decisions

SECTION C: FINANCIAL RISK MANAGEMENT


Equity and Bond Valuation and Evaluation of Performance

Mutual Funds
Foreign Exchange Market

Foreign Exchange Risk Management


Portfolio Theory and Practice

Portfolio Performance Evaluation and Portfolio Revision

Efficient Market Hypothesis

Asset Pricing Theories
The International Financial Environment

SECTION E: DIGITAL FINANCE


Introduction

Leasing Decisions

Securitization

DIRECT LAWS & INTERNATIONAL TAXATIONTransfer Pricing

Double Taxation and Avoidance Agreements (DTAA)

Assessment of Income and Computation of Tax Liability of Various Entities


GAAR






Grievance Redressal

Tax Management, Return and Assessment Procedure


E-commerce Transaction and Liability in Special Cases

Business Restructuring




Penalties and Prosecutions

CBDT and Other Authorities

Income Computation and Disclosure Standards (ICDS)


Different Aspects of Tax Planning

Black Money Act,2015
STRATEGIC COST MANAGEMENTDecision Making Techniques (Case Study-based Approach)

Evaluating Performance

Activity Based Management and Just in Time (JIT)
Linear Programming

Transportation.


Business Application of Maxima and Minima

Network analysis-PERT, CPM


Assignment

Game Theory


Simulation


Learning Curve

Introduction to Strategic Cost Management

Quality Cost Management


COST & MANAGEMENT AUDITCompanies (Cost Records and Audit) Rules, 2014 (as amended)

Cost Auditor

Overview of Cost Accounting Standards and GACAP

Cost Auditing and Assurance Standards


Cost Audit Programme

Cost Audit Documentation, Audit Process and Execution.

Preparation and Filing of Cost Audit Report
SECTION B: MANAGEMENT AUDIT

SECTION D: FORENSIC AUDIT AND ANTI-MONEY LAUNDERING
Basics of Cost Audit

SECTION C: INTERNAL CONTROL, INTERNAL AUDIT, OPERATIONAL AUDIT AND OTHER RELATED ISSUES
CORPORATE FINANCIAL REPORTINGSpecific Accounting Standards

SECTION F: GOVERNMENT ACCOUNTING IN INDIA

Consolidated Financial Statements and Separate Financial Statements

Accounting for Business Combination and Restructuring

SECTION E: RECENT DEVELOPMENTS IN FINANCIAL REPORTING
Accounting of Financial Instruments

NBFCs-Provisioning Norms, Accounting and Reporting


Valuation of Shares (including Determination of Goodwill, Post-valuation of Tangible and Intangible Assets)
INDIRECT TAX LAWS & PRACTICESSECTION A: GOODS AND SERVICES TAX ACT & RULES:
Valuation (Advanced)

Input Tax Credit (Advanced)

Time of Supply (Advanced)

Anti-profiteering

Supply under GST-A Refresh


SECTION B: CUSTOMS ACT AND RULES:
Valuation and Related Party Transactions

Customs Procedures – Baggage & Courier/Post


Export Promotion Schemes under Foreign Trade Policy



SECTION A: GOODS AND SERVICES TAX ACT & RULES:
TDS & TCS under GST

E-way Bill

GST Refunds – Inverted Duty Structure and Zero Rated Supplies

GST Returns

GST Annual Return and GST Audit Return



SECTION B: CUSTOMS ACT AND RULES:
Duty Drawback

Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017

Refund

Trade Facilitation Measures
SECTION A: GOODS AND SERVICES TAX ACT & RULES:
Accounts and Records

Transition to GST (Transitional Provisions)

Dispute Resolution Mechanism under GST

Inspection, Search, Seizure, Arrest and Prosecution

Walkthrough of GSTN Portal



SECTION B: CUSTOMS ACT AND RULES:
Remission of Duties

Special Economic Zone Scheme (with Amended SEZ Rules)
STRATEGIC PERFORMANCE MANAGEMENT & BUSINESS VALUATION

RISK MANAGEMENT IN BANKING & INSURANCE

ENTREPRENEURSHIP & START UP
STRATEGIC PERFORMANCE MANAGEMENT & BUSINESS VALUATION
Performance Measurement, Evaluation and Improvement Tools

Enterprise Risk Management


Valuation of Assets and Liabilities

Valuation in Mergers and Acquisitions

RISK MANAGEMENT IN BANKING & INSURANCE
Insurance Intermediaries, General Insurance, Health Insurance and Life Insurance

Managing Risk in Insurance Business


Credit Risk and Liquidity Risk

Sovereign Risk and Insolvency Risk

ENTREPRENEURSHIP & START UP
SECTION A: ENTREPRENEURIAL SKILL SETS

SECTION B: THE ENTREPRENEURIAL ECOSYSTEM

SECTION D: VALUE ADDITION

SECTION E: SCALE UP
STRATEGIC PERFORMANCE MANAGEMENT & BUSINESS VALUATION
Business Valuation Methods and Approaches

Economic Efficiency of the Firm – Performance Analysis

Introduction to Performance Management


RISK MANAGEMENT IN BANKING & INSURANCE
Operational Risk and Off-Balance Sheet Risk

Interest Rate Risk and Market Risk


ENTREPRENEURSHIP & START UP
SECTION C: IDEA TO ACTION

SECTION F: RISK MANAGEMENT STRATEGIES

STRATEGIC PERFORMANCE MANAGEMENT & BUSINESS VALUATION
Fundamentals of Business Valuation

Laws and Compliance in Business Valuation


RISK MANAGEMENT IN BANKING & INSURANCE
Introduction to Risk Management

Introduction to Insurance Business


ENTREPRENEURSHIP & START UP
SECTION H: TYPES OF NEW AGE BUSINESS

SECTION G: LEADERSHIP

by leveraging the insights from our ABC analysis, you can tailor your study strategy to prioritize your time and efforts effectively. Focusing on Category A topics will ensure you build a strong foundation in high-impact areas, while Category B subjects will reinforce your understanding and contribute significantly to your overall performance. Meanwhile, Category C topics can be reviewed as supplementary material, allowing you to optimize your study plan without overwhelming yourself. This structured approach will not only enhance your exam preparation but also boost your confidence as you work towards becoming a successful Cost & Management Accountant.

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