About CMA – Cost and Management Accountant
Cost & Management Accountant is a reputed certification given by the Institute of Cost Accountants of India (ICAI). Previously this course was known as CWA (Cost and works accountants, but presently CWA course has been renamed to CMA.
A CMA is a person who performs services like costing; pricing of goods or services; prepares, verifies or certifies cost accounting; and prepares related statements. A CMA’s job essentially involves an analysis of costs and to devise ways to reduce it.
Apart from this, the CMA also assist in designing and implementing effective management information and control systems, planning costing systems and methods, inventory control incorporating mathematical models, investment analysis, project management, internal audit, cost audit and Assurance, fund management, Budgeting, Direct and indirect taxation, Financial reporting etc.
Table of Contents
About CMA Foundation
There are three stages in CMA Course – Foundation, Intermediate and Final.
CMA Foundation is the First Step towards CMA Profession. One can get admission in CMA Foundation after Class 10. Qualification for Getting Admission and exemption details are given below
Qualification for admission in CMA Foundation
– A candidate should have passed Class 10 or equivalent from a recognized Board or Institution; Or,
– Passed the Senior Secondary School Examination under the 10+2 scheme of a recognized Board or Institution
Exemption for admission in CMA Foundation
Below mentioned category students are exempted from CMA Foundation exam. They can directly took admission in CMA Intermediate Exam.
– Any Candidate who has passed the Foundation examination conducted by the Institute of Company Secretaries of India will be exempted from Foundation Course
– Any Candidate who has passed the Intermediate Examination (by whatever name called) conducted by the Institute of Chartered Accountants of India will be exempted from Foundation Course
Provisional Admission
Students may also seek provisional admission to the foundation course. Such students would be provided a time period of 36 (thirty six) months to convert from Provisional to Regular Status.
Here provision registration applicable for those students who have appeared in above mentioned exams but they are waiting for final results.
CMA Foundation Fees (Admission and Examination)
CMA Foundation Admission Fees: Admission Fees for both Oral and Postal Scheme is Rs. 6,000 for Dec 2023 Exam.
CMA Foundation Examination Fees: Examination Fees for Dec. 2023 Exam will be Rs. 1,200.
CMA Foundation Registration 2023 Last Date
Admission to foundation course for the ICAI course is open throughout the year. However, Students desirous to appear:
– For June Term Examination should apply before 31st January of that year and
– For December Term Examination should apply before 31st July of that year. Hurry Up.
CMA Foundation Exam Form Last Date
CMA Foundation exam is conducted twice a year – June and December.
– Last Date for filling up exam forms for June/July Term Exam is – 16th May of that year
– Last Date for filling up exam forms for Dec Term Exam is – 15th Nov of that year. Full Details available here
CMA Foundation Question Paper Pattern
CMA Foundation Exam Consists of Total 4 Papers. Details syllabus of each paper is given below:
– Papers 1: FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
– Papers 2: FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
– Papers 3: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
– Papers 4: FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
Important Points to be taken into consideration before appearing in CMA Foundation Exam:
– The Institute has introduced the MCQ-OMR sheet Centre based offline Foundation examination-Dec 2023 term.
– Each paper will carry 100 marks with 50 Multiple Choice Questions (Each Question will carry 2 Marks).
– The Foundation Examination will be single Day examination from Centres as notified in the Time Table.
– The Examination will be divided in to two sessions that are Session Ii.e. 10:00 to 12:00 and Session II-i.e. 02:00 to 04:00
– Session I will be of 200 marks consisting of Paper I (50 questions *2 marks=100 Marks) and Paper II (50 questions *2 marks=100 Marks).
– Session II– Paper III (50 questions *2 marks=100 Marks) and paper IV (50 questions *2 marks=100 Marks).
– There is No negative marking in the Foundation Examination.
CMA Foundation Syllabus 2023
Papers 1:Â FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
Marks: 100
|
Module No. |
Module Description |
Weight |
|
 |
Section A: Fundamentals of Business Laws |
80% |
|
1 |
Introduction. |
10% |
|
2 |
Indian Contracts Act, 1872. |
30% |
|
3 |
Sale of Goods Act, 1930. |
20% |
|
4 |
Negotiable Instruments Act, 1881. |
20% |
|
|
Section B: Business Communication |
20% |
|
5 |
Business Communication. |
20% |
SECTION A: FUNDAMENTALS OF BUSINESS LAWS
1. Introduction.
1.1 Sources of Law.
1.2 Legislative Process in India.
1.3 Legal Methods and Court System in India.
1.4 Primary and Subordinate Legislation.
2. Indian Contracts Act, 1872.
2.1 Essential Elements of a Contract, Offer and Acceptance.
2.2 Void and Voidable Agreements, No Consideration No Contract.
2.3 Consideration, Legality of Object and Consideration.
2.4 Capacity of Parties, Free Consent.
2.5 Contingent Contracts.
2.6 Performance of Contracts.
2.7 Meaning of Indemnity, Guarantee, Pledge, Agent.
2.8 E-Contracts and E-Signature – Meanings and Requirements.
2.9 Discharge of Contracts.
2.10 Breach of Contract and Remedies for Breach of Contract.
3. Sale of Goods Act, 1930.
3.1. Definition.
3.2. Transfer of Ownership.
3.3. Essential Conditions of a Contract of Sale.
3.4. Conditions and Warranties.
3.5. Performance of the Contract of Sale.
3.6. Rights of Unpaid Seller.
4. Negotiable Instruments Act, 1881.
4.1. Characteristics of Negotiable Instruments.
4.2. Definitions of Promissory Note, Bill of Exchange and Cheque.
4.3. Difference between Promissory Note, Bill of Exchange and Cheque.
4.4. Crossing – Meaning, Definition and Types of Crossing.
4.5. Dishonour of Cheques (Section 138).
SECTION B: BUSINESS COMMUNICATION
5. Business Communication.
5.1 Introduction to Business Communication.
5.2 Features of Effective Business Communication.
5.3 Process of Communication.
5.4 Types of Business Communication.
5.4.1 Formal and Informal Communication.
5.4.2 Written, Verbal and Non-verbal Communication.
5.4.3 Vertical, Horizontal and Diagonal Communication.
5.4.4 Upward and Downward Communication.
5.5 Internet-based Business Communication.
5.6 Do’s and Don’ts of Communication through Social Media.
5.7 Writing and Drafting for Business Audiences.
5.7.1 Letter and Memorandum.
5.7.2 Report – Formal and Informal.
5.7.3 Business Proposal.
5.7.4 Enhancement of Writing Skills.
5.8 Intercultural and International Business Communication.
5.9 Barriers to Business Communication.
5.10 Legal Aspects of Business Communication.
5.11 Use of Graphics and References for Business Communication.
Papers 2:Â FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
Marks: 100
|
Module No. |
Module Description |
Weight |
|
 |
Section A: Fundamentals of Financial Accounting |
70% |
|
1 |
Accounting Fundamentals. |
30% |
|
2 |
Accounting for Special Transactions. |
15% |
|
3 |
Preparation of Final Accounts. |
25% |
|
|
Section B: Fundamentals of Cost Accounting |
30% |
|
4 |
Fundamentals of Cost Accounting. |
30% |
SECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTING
1. Accounting Fundamentals.
1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and Regulatory) and Forms of Organization.
1.2 Accounting Principles, Concepts and Conventions.
1.3 Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and Revenue Receipts.
1.4 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.
1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and Rectification Entries), Ledger.
1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement.
1.7 Trial Balance.
1.8 Adjustment Entries and Rectification of Errors.
1.9 Depreciation (Straight Line and Diminishing Balance Methods only).
1.10 Accounting Treatment of Bad Debts and Provision for Doubtful Debts.
2. Accounting for Special Transactions.
2.1 Consignment.
2.2 Joint Venture.
2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency).
3. Preparation of Final Accounts.
3.1 Preparation of Financial Statements of Sole Proprietorship.
3.1.1 Income Statement, Balance Sheet.
3.2 Preparation of Financial Statements of a Not-for-Profit Organisation.
3.2.1 Preparation of Receipts and Payments Account.
3.2.2 Preparation of Income and Expenditure Account.
3.2.3 Preparation of Balance Sheet.
SECTION B: FUNDAMENTALS OF COST ACCOUNTING
4. Fundamentals of Cost Accounting.
4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting.
4.2 Application of Cost Accounting for Business Decisions.
4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers.
4.4 Classification of Costs (with reference to Cost Accounting Standard 1).
4.5 Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet).
Papers 3:Â FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
Marks: 100
|
Module No. |
Module Description |
Weight |
|
 |
Section A: Fundamentals of Business Mathematics |
40% |
|
1 |
Arithmetic. |
15% |
|
2 |
Algebra. |
20% |
|
3 |
Calculus – Application in Business. |
5% |
|
|
Section B: Fundamentals of Business Statistics |
60% |
|
4 |
Statistical Representation of Data. |
5% |
|
5 |
Measures of Central Tendency and Dispersion. |
15% |
|
6 |
Correlation and Regression. |
15% |
|
7 |
Probability. |
15% |
|
8 |
Index Numbers and Time Series. |
10% |
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS
1. Arithmetic.
1.1 Ratios, Variations and Proportions.
1.2 Time Value of Money and Annuity – Simple and Compound Interest.
1.3 Arithmetic Progression and Geometric Progression.
1.4 Time and Distance.
2. Algebra.
2.1 Set Theory, including Venn Diagram.
2.2 Indices and Logarithms (Basic Concepts).
2.3 Permutation and Combinations (Basic Concepts).
2.4 Quadratic Equations (Basic Concepts).
3. Calculus – Application in Business.
3.1 Concept of Calculus and its Application in Business.
3.2 Revenue and Cost Function.
3.3 Optimisation Techniques (Basic Concepts).
SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS
4. Statistical Representation of Data.
4.1 Diagrammatic Representation of Data.
4.2 Frequency Distribution.
4.3 Graphical Representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart.
5. Measures of Central Tendency and Dispersion.
5.1 Mean, Median, Mode, Mean Deviation.
5.2 Range, Quartiles and Quartile Deviation.
5.3 Standard Deviation.
5.4 Co-efficient of Variation.
5.5 Karl Pearson and Bowley’s Co-efficient of Skewness.
6. Correlation and Regression.
6.1 Scatter Diagram.
6.2 Karl Pearson’s Co-efficient of Correlation.
6.3 Regression Analysis.
7. Probability.
7.1 Concepts and Terminologies.
7.2 Primary applications of Probability Theorems.
8. Index Numbers and Time Series.
8.1 Uses of Index Numbers, Methods of Construction of Index Number.
8.2 Components of Time Series and Calculation of Trend by Moving Average Method.
Papers 4:Â FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
Marks: 100
|
Module No. |
Module Description |
Weight |
|
 |
Section A: Fundamentals of Business Economics |
70% |
|
1 |
Basic Concepts. |
15% |
|
2 |
Forms of Market. |
20% |
|
3 |
Money and Banking. |
20% |
|
4 |
Economic and Business Environment. |
15% |
|
|
Section B: Fundamentals of Management |
30% |
|
5 |
Fundamentals of Management. |
30% |
SECTION A: FUNDAMENTALS OF BUSINESS ECONOMICS
1. Basic Concepts.
1.1 The Fundamentals of Economics.
1.2 Utility, Wealth, Production.
1.3 Theory of Demand (Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand – Price, Income and Cross Elasticity, Theory of Consumer Behaviour, Demand Forecasting) and Supply (Meaning, Determinants, Law of Supply and Elasticity of Supply), Equilibrium.
1.4 Theory of Production (Meaning, Factors, Laws of Production – Law of Variable Proportion, Laws of Returns to Scale).
1.5 Cost of Production (Concept of Costs, Short-run and Long-run Costs, Average and Marginal Costs, Total, Fixed and Variable Costs).
1.6 Means of Production.
2. Forms of Market.
2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Duopoly, Oligopoly, Monopoly, Monopolistic Competition.
2.2 Price Discrimination.
3. Money and Banking.
3.1 Money – Types, Features and Functions.
3.2 Banking – Definition, Functions, Utility, Principles.
3.3 Commercial Banks, Central Bank.
3.4 Measures of Credit Control and Money Market.
4. Economic and Business Environment.
4.1 PESTEL (Political, Economic, Societal, Technological and Legal) Analysis.
4.2 Emerging Dimensions of VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear of Unknown and Unprecedentedness).
SECTION B – FUNDAMENTALS OF MANAGEMENT
5. Fundamentals of Management.
5.1 Introduction to Management.
5.2 Stewardship Theory and Agency Theory of Management.
5.3 Planning, Organizing, Staffing and Leading.
5.4 Communication, Co-ordination, Collaboration, Monitoring and Control.
5.5 Organisation Structure, Responsibility, Accountability and Delegation of Authority.
5.6 Leadership and Motivation – Concepts and Theories.
5.7 Decision-making – Types and Process.
CMA Foundation Study Material
CMA Foundation Study Materials 2023 are available on the official website of ICMAI. You can Download study material from the below mentioned link:
– Papers 1: FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
– Papers 2: FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
– Papers 3: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
– Papers 4: FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
You Can also Download CMA Course Prospectus 2023 Here
CMA Foundation Mock Test
The institute of Cost Accountants of India have created a comprehensive website for Mock test for the registered students.
You can login and take mock by simply entering your registration number.
Click on this link for Online mock test.
We, Team CMA Tutors will also create a Mock Test Series for Our readers which will be updated very soon.
CMA Foundation Past Exam Question Papers
– Papers 1: FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
– Papers 2: FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
– Papers 3: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
– Papers 4: FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
CMA Foundation Past Exam Solved Question Papers
CMA Foundation Past exam solved Question Papers will be uploaded soon.
– Papers 1: FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
– Papers 2: FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
– Papers 3: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
– Papers 4: FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
CMA Foundation Important TopicsÂ
CMA Foundation Important Topics will be upadated very soon.
– Papers 1: FUNDAMENTALS OF BUSINESS LAWS AND BUSINESS COMMUNICATION (FBLC)
– Papers 2: FUNDAMENTALS OF FINANCIAL AND COST ACCOUNTING (FFCA)
– Papers 3: FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
– Papers 4: FUNDAMENTALS OF BUSINESS ECONOMICS AND MANAGEMENT (FBEM)
CMA Foundation Results
Normally CMA Foundation results are announced within one month of the Exam i.e.,
– Tentative result date for June/July term exam – July 31st / August 31st
– Tentative result date for Dec term exam – Jan 31st
The institute of Cost Accountants of India will declare the result on its official website after the exam. Candidates can view and download CMA Foundation result 2023 by following the steps given below:
Step 1: Visit the official Page of ICMAI for Results Link is given here
Step 2: Enter the registered identification number or registration number.
Step 3: Click on view result.
Step 4: Result will be available on the screen.
Step 5: Candidates can download the result or print it for future reference.
This is all about CMA Foundation Syllabus and Question Paper Pattern. Hope you find this post useful. Join our Telegram Channel for more notes and important topics.