Courses

CMA - Cost Accountancy

Posted: Wed, 29 Oct 2014, 12:23:20 pm



CMA - Cost Accountancy



The Institute of Cost Accountants of India is a premier professional body of management accountants in the country established on 28th may 1959 under the Cost and Works Accountant, Act 1959 as amended by the cost and works Accountant (Amendment) Act, 2006 enacted by the parliament to regulate the profession of cost and management Accounting in India.

Different stages in Cost Accountancy Course (CMA):

 

  Eligibility :

Ø A candidate who has passed class 10 or equivalent from a recognised board or institution can seek enrolment in foundation course.

Ø A candidate who has completed Class XII or equivalent exam can appear for Foundation Course Examination.

Ø Any candidate who has passed the foundation examination conducted by the Institute of Company Secretaries of India will be exempted from Foundation Course & vice versa.

Ø Any candidate who has passed the intermediate examination conducted by the Institute of Chartered Accountants of India will be exempted from Foundation Course & vice versa.

Ø Candidates who have passed the qualifying examination for direct admission to intermediate course are exempted from Foundation Course.

Ø Candidates awaiting results of 10+2 examination may also apply for provisional admission.

 

Cut off date for admission to Foundation Course:         

o   For June term examination – 31st January of same calendar year

o   For Dec term examination  –  31st July of the same calendar year

Registration Fee – Rs. 4,000/- (Payable to Institute of Cost Accountants of India)

         Examination :

   PAPER – 1: FUNDAMENTALS OF ECONOMICS AND MANAGEMENT

               CONTENTS           Weightage

Section A : Fundamentals of Economics

   1. Basic concepts of Economics       20%

   2. Forms of Market       20%

   3. Money and Banking       10%

Section B : Fundamentals of Management 

   4. Management Process        50%


         Paper 2: Fundamentals of Accounting (FOA)

                                       CONTENTS         Weightage

Section A : Fundamentals of Financial Accounting

    1. Accounting Fundamentals   35%

    2. Accounting for Special Transactions   20%

    3. Preparation of Final Accounts   25%

Section B: Fundamentals of Cost Accounting 

    4. Fundamentals of Cost Accounting                       20%


              Paper 3: Fundamentals of Laws and Ethics (FLE)

                   CONTENTS Weightage

 Section A : Fundamentals of Commercial Laws

  1. Indian Contracts Act, 1872      40%

  2. Sale of Goods Act, 1930                20%

  3. Negotiable Instruments Act, 1881                10%

 Section B : Fundamentals of Ethics

  4. Ethics and Business      30%


Paper 4: Fundamentals of Business Mathematics and Statistics (FBMS)

                                      CONTENTS                 Weightage

      Section A : Fundamentals of Business Mathematics

  1. Arithmetic                       20%

  2. Algebra                                 20%

      Section B : Fundamentals of Business Statistics

  3. Statistical representation of Data            10%

  4. Measures of Central Tendency and Dispersion            30%

  5. Correlation and Regression            10%

  6. Probability                      10%


Detailed Syllabus :

Paper 1: Fundamentals of Economics and Management (FEM) (100 Marks)

A: Fundamentals of Economics (50 Marks)

Ø   Basic Concepts of Economics, Utility, Wealth, Production

Ø  Theory of Demand and Supply

Ø   Forms of Market

Ø   National Income

Ø   Money

Ø   Banking

B: Fundamentals of Management (50 Marks)

Ø   Management Process, Evolution of Management thought

Ø   Concept of Power, Authority, Responsibility, Accountability, Delegation of Authority, Centralisation & Decentralisation ; Leadership and Motivation

Ø   Group Dynamics ; Management of organizational conflicts

Ø   Decision making

 

Paper 2: Fundamentals of Accounting (FOA) (100 Marks)

A: Fundamentals of Financial Accounting (80 Marks)

Ø Accounting Process

Ø Reconciliation Statements

Ø Accounting for Depreciation

Ø Preparation of Financial Statements

Ø Accounting for special transactions

B: Fundamentals of Cost  Accounting (20 Marks)

Ø                                                                       Fundamentals of Cost Accounting

Ø                                                               Preparation of Cost Statements

Ø         Paper 3: Fundamentals of Laws and Ethics (FLE) (100 Marks) 

A: Fundamentals of Commercial Laws (70 Marks)

Ø Law of Contracts

Ø Laws relating to Sale of Goods

Ø Negotiable Instruments Act, 1881

B: Fundamentals of Ethics (30 Marks)

Ø   Ethics and Business

 

         Paper 4: Fundamentals of Business Mathematics and Statistics (FBMS) (100 Marks)          

A: Fundamentals of Business Mathematics (40 Marks)

Ø   Arithmetic

Ø   Algebra

Ø   Calculus

B: Fundamentals of Business Statistics (60 Marks)

Ø   Statistical Representation of Data

Ø   Measures of Central Tendency and Dispersion

Ø   Correlation and Regression

Ø   Index Numbers

Ø   Time Series Analysis – basic application including Moving Average

Ø   Probability

Ø   Theoretical Distribution



Eligibility :

Ø   Passed (10+2) and Foundation Course of the Institute of Cost Accountants of India or qualified the Foundation (Entry Level) Part I Examination of Certificate in Accounting Technicians (CAT) course of ICAI or Degree examination of any recognised university or equivalent.

Ø   Candidates awaiting results of qualifying examinations may also apply for provisional admission.

Ø   Registration fees: Rs. 500/-

Ø   Registration must be at least six months prior to the month of examination.


Cut - off date for registration to Intermediate Course :             

o   For June term examination – 31st January of same calendar year

o   For Dec term examination  –  31st July of the same calendar year

Registration Fee – Rs. 20,000/- (Payable to Institute of Cost Accountants of India)

Examination :

Group I:

               Paper 5: Financial Accounting (FA)

        CONTENTS                     Weightage

Section-A : Accounting – Basics

    1. Fundamentals of Accounting     25%

    2. Accounting for Special Transactions

Section-B : Preparation of Financial Statements               40%

    3. Preparation of Final Accounts of Profit Oriented 

  organizations, Non-Profit Organizations and from 

Incomplete Records.

    4. Partnership Accounts

Section-C : Self Balancing Ledgers, Royalties, Hire Purchase 

& Installment System, Branch & Departmental Accounts.

    5. Self-Balancing Ledgers     20%

    6. Royalties, Hire-Purchase and Installment System

    7. Branch and Departmental Accounts

Section-D : Accounting in Computerised Environment and 

            Accounting Standards

    8. Overview of Computerised Accounting    15%

    9. Accounting Standards (Specified only)


         Paper 6: Laws, Ethics and Governance (LEG)

                                 CONTENTS     Weightage

Section A : Commercial Laws             30%

    1. Indian Contract Act, 1872

    2. Sale of Goods Act, 1930

    3. Negotiable Instruments Act, 1881

    4. Indian Partnership Act, 1932

    5. Limited Liability Partnership Act, 2008

Section B : Industrial Laws             25%

   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

Section C : Corporate Law             35%

 13. Companies Act 2013

Section D : Ethics  10%

 14. Business Ethics

                       

                    Paper 7: Direct Taxation (DTX)

                   CONTENTS         Weightage

   SECTION – A: INCOME TAX ACT BASICS

           1. Introduction to Income Tax Act, 1961   10%

          2. Income which do not form part of Total Income

           (Section 10, 11 to13A)

    SECTION – B: HEADS OF INCOME AND COMPUTATION OF

                            TOTAL INCOME AND TAX LIABILITY                70%

3. Heads of Income and Computation of Total Income

            under various heads.

          4. Clubbing Provisions, Set off and Carry forward of

             Losses, Deductions.

          5. Assessment of Income of different persons.

          6. Corporate Taxation

          7. TDS, TCS and Advance Tax.

    SECTION C : ADMINISTRATIVE PROCEDURES AND ICDS

8. Administrative Procedures.     20%

          9. Income computation and disclosure standards – Basic

           Concepts only

   Paper 8: Cost Accounting and Financial Management (CAFM)

                        CONTENTS     Weightage

    1. INTRODUCTION TO COST ACCOUNTING 40%

    2. COST ASCERTAINMENT - ELEMENTS OF COST

    3. COST ACCOUNTING STANDARDS

    4. COST BOOK KEEPING

    5. METHODS OF COSTING           30%

    6. COST ACCOUNTING TECHNIQUES           30%


Group II:


Paper 9: Operation Management and Information Systems (OMS)

                       CONTENTS   Weightage

Section – A: Operations Management

   1. Operations Management – Introduction                   15%

   2. Operations Planning

   3. Designing of operational systems and control         35%

   4. Production planning and control

   5. Productivity management and quality management

   6. Project Management        20%

   7. Economics of Maintenance and spares management

Section – B : Strategic Management

  8. Strategic Management Introduction

  9. Strategic Analysis and Strategic Planning      30%

10. Formulation and Implementation of Strategy


Paper 10: Cost and Management Accountancy (CMA)

                        CONTENTS Weightage

Section A: Cost & Management Accounting

 1. Cost and Management Accounting – Introduction     50%

 2. Decision Making Tools

 3. Budgeting and Budgetary Control

 4. Standard Costing and Variance Analysis

 5. Learning Curve

Section B: Financial Management

 6. Introduction to Financial Management      50%

 7. Tools for Financial Analysis and Planning

 8. Working Capital Management

 9. Cost of Capital, Capital Structure Theories, Dividend

      Decisions and Leverage Analysis

10. Capital Budgeting – Investment Decisions

                         

               Paper 11: Indirect Taxation (ITX)

                     CONTENTS  Weightage

1. Canons of Taxation - Indirect Tax                  35%

2. Central Excise

3. Customs Law       15%

4. Service Tax       30%

5. Central Sales Tax and VAT                 20%


      Paper 12: Company Accounts and Audit (CAA)

                                CONTENTS             Weightage

Section A : Accounts of Joint Stock Companies

      1. Accounting of Shares and Debentures

      2. Presentation of Financial Statements (as Per Schedule III)        25%

      3. Cash Flow Statement

      4. Accounts of Banking, Electricity and Insurance Companies      25%

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

Section B : Auditing

      6. Auditing Concepts                        20%

      7. Provision relating to Audit under Companies Act        30%


Procedure For Enrollment to Final Course:

Ø Only the candidates who have passed Intermediate Examination of the Institute of Cost Accountants of India are eligible for admission to Final Course.

Ø Copy of Intermediate Pass Mark sheet is to be furnished along with the Admission Form.

Ø Admission must be at least six months prior to the month of Examination.

Ø Student from foreign countries should submit the forms to the Headquarters only.

 

Last Date for Enrolment to Final Course:

           

o   For June term examination – 31st January of same calendar year

o   For Dec term examination  –  31st July of the same calendar year

Registration Fee – Rs. 17,000/- (Payable to Institute of Cost Accountants of India)

 

Examination:

             §  Group III:

        Paper 13: Corporate Laws and Compliance (CLC)

                       CONTENTS    Weightage

SECTION A: COMPANIES ACT

   1. The Companies Act, 2013                      50%

SECTION B: OTHER CORPORATE LAWS         30%

  2. SEBI Laws and Regulations

  3. The Competition Act,2002 and its role in Corporate

                Governance

  4. Foreign Exchange Management Act,1999

  5. Laws related to Banking Sector

  6. Laws related to Insurance Sector

SECTION C: CORPORATE GOVERNANCE         20 %

  7. Corporate Governance

  8. Social, Environmental and Economic Responsibilities of Business


Paper 14: Advanced Financial Management (AFM)

                              CONTENTS Weightage


   Section A : Investment Decisions

   1. Investment Decisions, Project Planning and Control

   2. Evaluation of Risky proposals for Investment decisions    25%

   3. Leasing Decisions

Section B : Financial Markets and Institutions     20%

   4. Institutions in Financial Markets

   5. Instruments in Financial Markets

   6. Capital Markets

   7. Commodity Exchange

Section C : Security Analysis and Portfolio Management     25%

    8. Security Analysis & Portfolio Management

Section D : Financial Risk Management     30%

    9. Financial Risks & Management

 10. Financial Derivatives - Instruments for Risk Management

 11. Financial Risk Management in International Operations


Paper 15: Business Strategy and Strategic Cost Management (BSCM)

                            CONTENTS     Weightage

SECTION A: COST MANAGEMENT        20%

  1. Cost Management

SECTION B: STRATEGIC COST MANAGEMENT TOOLS 

              AND TECHNIQUES                     50%

  2. Decision Making techniques

  3. Standard Costing in Profit Planning

  4. Activity Based Cost Management – JIT and ERP

  5. Cost of Quality and Total Quality Management

SECTION C: STRATEGIC COST MANAGEMENT – APPLICATION

          OF STATISTICAL TECHNIQUES IN BUSINESS DECISIONS.   30%

  6. Application of Operation Research and Statistical Tools in

     Strategic Decision Making.


          Paper 16: Tax Management and Practice (TMP)

                    CONTENTS Weightage

Section A : Advanced Direct Tax Laws     50%

  1. Return of Income & Assessment Procedure

  2. Assessment of Various Entities & Tax Planning

  3. Clubbing of Income

  4. Set-Off and Carry forward and Set-off of losses

  5. Deduction in Computing Total Income

  6. Business Restructuring

  7. Administrative procedures under Direct Taxation

   8. Grievances Redressal Procedure

   9. Settlement of Cases

 10. Black Money Act, 2015

Section B : International Taxation

 11. Double Taxation Avoidance Agreements (DTAA)   30%

 12. Transfer Pricing Issues

Section C : Tax Practice and Procedures   20%

 13. Case Study Analysis


§  Group IV:

      Paper 17: Strategic Performance Management (SPM)

                                CONTENTS Weightage

Section A : GAAP and Accounting Standards                30% 

   1. Accounting Standards

Section B: Accounting of Business Combinations &

                    Restructuring                                                           20%

 2. Accounting of Business Combinations & Restructuring

Section C : Consolidated Financial Statements                 20%

 3. Group Financial Statements

Section D: Developments in Financial Reporting    15%

 4. Recent Trends in Financial Reporting

 5. Valuation, Accounting and Reporting of Financial

              Instruments and others

 6. Share based payments

 7. Reporting through XBRL (Extended Business

               Reporting Language)

Section E: Government Accounting in India   15%

 8. Government Accounting Procedure and Standards


            Paper 18: Corporate Financial Reporting (CFR)

                                     CONTENTS         Weightage

Section A : Advanced Indirect Tax - Laws & Practice

  1. Central Excise                20%

  2. Customs law                           10%

  3. Service tax                           30%

  4. Foreign Trade Policy (with special reference to Tax

      Planning)                10%

  5. Central Sales Tax & Value Added Tax      10%

Section B : Tax Practice and Procedures

  6. Case study analysis                20%


    Paper 19: Cost and Management Audit (CMAD)

                                CONTENTS  Weightage

Section A: Cost Audit                             35%

  1. Nature, Scope, utility and Advantages of Cost Audit

  2. Companies (Cost Records & Audit) Rules,2014

  3. Professional Ethics, Misconduct, Offences and Penalties

  4. Cost Accounting Standards

  5. Cost Auditing and Assurance Standards

  6. Format of Cost Audit Report – XBRL – Salient Features

Section B: Management Audit      15%

  1. Management Reporting issues under Cost Audit

  2. Management Audit – Meaning, Nature, Scope etc 

  3. Energy Audit, Efficiency Audit, Propriety Audit and

       Systems Audit

  4. Evaluation of Corporate Image - Corporate Development

       Audit –

  5. Impact of environmental pollution

Section C: Internal Audit, Operational Audit and other

                    related issues                                                          25%

  1. Concept of Internal Audit

  2. Provisions of Internal Audit under Companies Act, 2013

  3. Audit Planning, Audit Programme, Audit working papers

  4. Receivables Audit, Audit of services and local bodies

Section D: Case Study on Performance Analysis   25%


Paper 20: Financial Analysis and Business Valuation (FABV)

                                                     CONTENTS Weightage

Section A : Strategic Performance Management              50%

  1. Conceptual Framework of Performance Management

  2. Performance Evaluation & Improvement Tools

  3. Economic efficiency of the firm— Impact analysis on Performance

  4. Enterprise Risk Management

Section B : Business Valuation       50%

  5. Business Valuation Basics

  6. Valuation in Mergers and Acquisitions

  7. Fair Value in Accounting Measurement

  8. Valuation of Intangibles

Exemptions:

Those who have passed a particular Group of Final Examination under syllabus 2008, willing to pursue the course under Syllabus 2012 would be eligible for exemption under syllabus 2012.

Coaching and Training:

Ø A student enrolled in Final Course under the syllabus 2012 has to undergo Coaching, Industry Oriented Training Programme and Practical Training.

Scheme for Refund of Fees to Physically Challenged Students:

Ø Institute allows refund of fees to Physically Challenged Students with 40% or more disability subject to production of evidences in support of their disabilities.

 

CMA - Cost Accountancy

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