FINANCIAL ACCOUNTING
1. Accounting Standards
AS-1: Disclosure of Accounting Policies
AS-2: Valuation of Inventories
AS-5: Net Profit or Loss for the Period, Prior
Period Items and Changes in Accounting Policies
AS-10: Accounting for Fixed Assets
2. Bank Reconciliation Statements
3. Depreciation Accounting (AS – 6); Impairment of
Assets (AS -28)
4. Preparation of Financial statements :
Preparation of Receipts and Payments Account
Preparation of Income and Expenditure Account
Balance Sheet CMA Inter Important Topics
Concept of single entry system, conversion of
single entry system into double entry system of
accounting CMA Inter Important Topics
5. Partnership CMA Inter Important Topics
Admission, Retirement, Death, Treatment of
Joint Life Policy
piece meal distribution
Amalgamation of partnership firms
6.Branch Accounts-Debtors system, Stock & Debtors
system
7. Self-Balancing Ledger CMA Inter Important Topics
8.Insurance Claim ( Loss of Stock and Loss of profit)
9.Accounts of a Banking Company
10.Accounts of Insurance Companies (as per Insurance
Act) including Stock Valuation. CMA Inter Imp
LAWS, ETHICS AND GOVERNANCE
Section A: LAWS (Industrial and Economic Laws) [60
marks]
1. Laws of Contracts CMA Inter Important Topics
Essential elements of a contract, offer and
acceptance
Quasi-contracts, contingent contracts,
termination or discharge of contracts
Special contracts : Indemnity and Guarantee;
Bailment and Pledge; Laws of Agency CMA Inter
Important Topics
2. Laws relating to Sale of Goods
Transfer of ownership CMA Inter Important
Topics
Performance of the contract of sale
3. Laws relating to Employees:
Here you have to prepare object, scope and applicability
of the every following Acts. Just know about basic
concept of every Act .
Factories Act,1948
Industrial Disputes Act,1947
Workmen’s Compensation Act,1923
Payment of Wages Act, 1936 and Minimum Wages
Act,1948
Payment of Bonus Act, 1965 and Payment of
Gratuity Act, 1972
Employees State Insurance (E.S.I)Act, 1950
Provident Fund (P.F.) Act, 1952 CMA Inter
Important Topics
The Child Employee (Prohibition and Regulation)
Act, 1986
4. Negotiable Instruments Act, 1881
Definition, Acceptance and negotiation
Dishonour of a Negotiable Instrument
5. Laws related to Partnership:
Nature of Partnership
Rights and liabilities of Partners
Dissolution of Firms
Limited Liability Partnership Act, 2008
6. Prevention of Money Laundering Act ,2011
Prevention of Money Laundering Act, 2011
Obligations of Banks and Financial Institutions
Section B: Corporate Laws and Governance [20 marks]
7. Essentials of Corporate Laws
Company – types, formation and related
procedures
Director- roles, responsibilities, qualification,
disqualification, appointment/re-appointment,
retirement, resignation, removal,
remuneration, powers, duties, Director’s
Identification Number (DIN), Loans to
Directors, Office or Place of Profit
Cost Accountant – Appointment, Role and
Responsibilities – with special reference to
Certification CMA Inter Important Topics
8. Right to Information Act, 2005
Salient features, objective
Request for obtaining information
9. Governance CMA Inter Important Topics
Basic understanding of Corporate Governance
Corporate governance practices in India, USA,
UK, Japan and Germany
Internal Audit for Governance – nature, scope,
function, planning process, investigation of
fraud, internal audit reports
Statutory Audit for Governance
Section C : Ethics [20 marks]
Ethics – meaning, importance, nature and
relevance to business, values and attitudes of
Professional Accountants
The “Seven Principles of Public Life” –
selflessness
The relationship between ethics and law,
difference between ethical codes and contracts
CMA Inter Important Topics
Unethical behavior – consequences
1. Accounting Standards
AS-1: Disclosure of Accounting Policies
AS-2: Valuation of Inventories
AS-5: Net Profit or Loss for the Period, Prior
Period Items and Changes in Accounting Policies
AS-10: Accounting for Fixed Assets
2. Bank Reconciliation Statements
3. Depreciation Accounting (AS – 6); Impairment of
Assets (AS -28)
4. Preparation of Financial statements :
Preparation of Receipts and Payments Account
Preparation of Income and Expenditure Account
Balance Sheet CMA Inter Important Topics
Concept of single entry system, conversion of
single entry system into double entry system of
accounting CMA Inter Important Topics
5. Partnership CMA Inter Important Topics
Admission, Retirement, Death, Treatment of
Joint Life Policy
piece meal distribution
Amalgamation of partnership firms
6.Branch Accounts-Debtors system, Stock & Debtors
system
7. Self-Balancing Ledger CMA Inter Important Topics
8.Insurance Claim ( Loss of Stock and Loss of profit)
9.Accounts of a Banking Company
10.Accounts of Insurance Companies (as per Insurance
Act) including Stock Valuation. CMA Inter Imp
LAWS, ETHICS AND GOVERNANCE
Section A: LAWS (Industrial and Economic Laws) [60
marks]
1. Laws of Contracts CMA Inter Important Topics
Essential elements of a contract, offer and
acceptance
Quasi-contracts, contingent contracts,
termination or discharge of contracts
Special contracts : Indemnity and Guarantee;
Bailment and Pledge; Laws of Agency CMA Inter
Important Topics
2. Laws relating to Sale of Goods
Transfer of ownership CMA Inter Important
Topics
Performance of the contract of sale
3. Laws relating to Employees:
Here you have to prepare object, scope and applicability
of the every following Acts. Just know about basic
concept of every Act .
Factories Act,1948
Industrial Disputes Act,1947
Workmen’s Compensation Act,1923
Payment of Wages Act, 1936 and Minimum Wages
Act,1948
Payment of Bonus Act, 1965 and Payment of
Gratuity Act, 1972
Employees State Insurance (E.S.I)Act, 1950
Provident Fund (P.F.) Act, 1952 CMA Inter
Important Topics
The Child Employee (Prohibition and Regulation)
Act, 1986
4. Negotiable Instruments Act, 1881
Definition, Acceptance and negotiation
Dishonour of a Negotiable Instrument
5. Laws related to Partnership:
Nature of Partnership
Rights and liabilities of Partners
Dissolution of Firms
Limited Liability Partnership Act, 2008
6. Prevention of Money Laundering Act ,2011
Prevention of Money Laundering Act, 2011
Obligations of Banks and Financial Institutions
Section B: Corporate Laws and Governance [20 marks]
7. Essentials of Corporate Laws
Company – types, formation and related
procedures
Director- roles, responsibilities, qualification,
disqualification, appointment/re-appointment,
retirement, resignation, removal,
remuneration, powers, duties, Director’s
Identification Number (DIN), Loans to
Directors, Office or Place of Profit
Cost Accountant – Appointment, Role and
Responsibilities – with special reference to
Certification CMA Inter Important Topics
8. Right to Information Act, 2005
Salient features, objective
Request for obtaining information
9. Governance CMA Inter Important Topics
Basic understanding of Corporate Governance
Corporate governance practices in India, USA,
UK, Japan and Germany
Internal Audit for Governance – nature, scope,
function, planning process, investigation of
fraud, internal audit reports
Statutory Audit for Governance
Section C : Ethics [20 marks]
Ethics – meaning, importance, nature and
relevance to business, values and attitudes of
Professional Accountants
The “Seven Principles of Public Life” –
selflessness
The relationship between ethics and law,
difference between ethical codes and contracts
CMA Inter Important Topics
Unethical behavior – consequences
DIRECT TAXATION
SECTION A: INCOME TAX [65 MARKS]
1. Income Tax Act, 1961 –
Basic Concepts and definitions
Residential Status and Incidence of Tax
2. Sec.10 CMA Inter Important Topics
3. Heads of Income and Computation of Total Income
under various heads
Income from salaries
Capital gains
Income from other sources
4. Tax Planning and Tax Management
Concept and application
For setting up new business units
Tax incentives and Export Promotion Schemes,
exemptions
Computation of income and Return of Income
Tax, Filing procedure, e-filing
Penalties, Fines and Prosecution
SECTION B: WEALTH TAX [10 MARKS]
Wealth Tax Act, 1957
concept and charge of wealth tax
exempted assets
Valuation of assets
Return of Wealth Tax and assessment procedure
SECTION – C – INTERNATIONAL TAXATION [25 MARKS]
Residency issues, source of income
double taxation avoidance agreements
Reference to Cost Accounting Records and Cost
Audit Reports.
General Anti-Avoidance Rules (GAAR) – concept
and application
COST ACCOUNTING AND FINANCIAL MANAGEMENT
Problems :
SECTION A: COST ACCOUNTING – PRIME COSTS &
OVERHEADS [60 MARKS]
Materials
Employee Costs
Overhead CMA Inter Important Topics
SECTION B : FINANCIAL MANAGEMENT [40 MARKS]
Hire Purchase, Forfeiting, Bill Discounting,
Factoring, Asset Securitization
Concepts of Value and Return – Time preference
for money, Future Value, Present Value, Net
Present Value (NPV)
Funds flow and Cash flow Analysis
Analysis Financial Ratio and Cash Flow
Cash and Marketable securities
Financing of working capital
Operating Risk and Financial Risk and Combined
Leverages
Operating leverages and Cost-Volume-Profit
(CVP) analysis, Earning Before Interest and Tax
(EBIT), Earning Per Share (EPS), Indifference
point
Weighted Average Cost of Capital and Marginal
Cost of Capital
payback period method, accounting rate of
return, net present value, internal rate of
return, modified internal rate of return,
discounted payback period and profitability
index.
Theory:
Financial Management – meaning, objectives,
scope, related finance disciplines, planning
environment, key-decision areas
Financial Decision – Making – Emerging role of
finance managers
Time preference for money, Future Value,
Present Value, Net Present Value (NPV) CMA
Inter Important Topics
Operating leverages and Cost-Volume-Profit
(CVP) analysis, Earning Before Interest and Tax
(EBIT), Earning Per Share (EPS), Indifference
point
Meaning, components, methods of determination
of cost of capital related to debt, preference
shares, equity shares, retained earnings,
depreciation fund
Operation Management & Information Systems
Section A: Operations Management [60 marks]
Operations Management – introduction, scope,
need, challenges, role in decision-making CMA
Inter Important Topics CMA Inter Important
Topics
Process strategy , process analysis and design,
production process flow, cost flow, costing
system
Economics and optimization – basics, Pareto
Optimality condition, price-mechanism and
optimum resource allocation,
Studies at work place – Time study, Work study,
Method study, Activity sampling, Work
simplification, Job Evaluation
Project Life Cycle, scheduling with Gantt
Charts, PERT and CPM, Project Risk
measurement
Human Resource Planning and optimization –
introduction, job allocation/assignment
Introduction, features, measurement
techniques of factors of production,
productivity index, productivity of Employee,
productivity of materials, productivity of
management resources
Methods of improving productivity including
quality circles
Total Quality Management (TQM) – basics tools
and certification
Spare parts – Planning, policy and control
Application of Queuing theory in maintenance
and spares management
Section B: Information System [40 marks]
Structured Systems Analysis and Design, Physical
and Logical Data Inflow Diagrams
Data Base Concept, Overview of DBMS, Data
Models, Database Administrator, Database User,
Schema, Data Independence
Definition, scope, planned and unplanned MIS,
MIS information time scale, transaction
processing CMA Inter Important Topics
MIS and Levels of Management – operational
level, tactical level, strategic level
Business Intelligence – Architecture Analysis
Processing Management Accounting Information
MIS in functional areas: Finance & Cost
Management, Inventory, Marketing, HRM,
Financial modeling
Enterprise Resource Planning (ERP)
Cyber laws CMA Inter Important Topics
COST AND MANAGEMENT ACCOUNTANCY
Section A: Cost & Management Accounting – Methods &
Techniques (50 marks)
Necessity and importance of cost accounting
Reconciliation between cost and Financial profit
and loss account; Integrated and non-
integrated accounting and reporting
contract costing, process costing
work-in –progress and abnormal loss accounts
Marginal Costing CMA Inter Important Topics
Integration of Standard Costing with Marginal
Cost Accounting
Absorption Cost Accounting and Throughput
Accounting
Accounting and control of waste, scrap,
spoilage, defective, etc
Budget Concepts and Budget Preparation
Fixed, variable, semi-variable and activity-
based categorizations of cost and their
application in projecting financial results
accounting – methods and reconciliation – stock
valuation
interpretation and uses for Managerial
decision-making activities
Section B: Cost Records and Cost Audit (20 marks)
Cost Audit under Companies Act, 1956
Nature and scope of Cost Audit
Cost Accounting Record Rules, 2011 and Cost
Audit Report Rules,2011
Section C: Economics for Managerial Decision-making
(30 marks)
Concepts of Markets, analysis of market demand
and empirical estimation of demand CMA Inter
Important Topics
Government Intervention and effect
cost analysis
Factor demand and input decisions
Pricing Policies
INDIRECT TAXATION
Features of Indirect Tax, Constitutional
Validity
The Central Excise Law – Goods, Excisable
Goods, Manufacture and manufacturer,
Classification, Valuation, Related Person,
Captive Consumption, CAS 4 CENVAT, Basic
Procedure, Export, SSI, Job Work
Central Excise Audit and Special Audit under 14A
and 14AA of Central Excise Act
Impact of tax on GATT 94, WTO, Anti Dumping
processing
Types of customs duties, Anti-Dumping Duty,
Safeguard Duty
Valuation, Customs Procedures, Import and
Export Procedures
Service Tax ( Full Chapter )
Introduction, Definitions, salient features of
CST Act
Procedures under Central Sales Tax (CST)
Introduction, definitions, salient features of
Sate VAT Act
Filing of return under State VAT Act
Accounting & Auditing VAT
International Taxation & Transfer Pricing
issues in the context of Indirect Taxation CMA
Inter Important Topics
General Anti-Avoidance Rule (GAAR) – concept
and application
COMPANY ACCOUNTS & AUDIT
Section A: Generally Accepted Accounting Principles
(GAAP) (20 marks)
Accounting Standards ( All Standards are Imp. )
AS 11: The Effects of Changes in
Foreign Exchange Rates (Revised 2003)
AS 12: Accounting for Government
Grants
AS 15: Employee Benefits
AS 19: Leases
AS 20: Earning Per Share
AS 26: Intangible Assets
AS 29: Provisions, Contingent Liabilities
and Contingent Assets
Section B: Accounts of Joint Stock Companies (40
marks)
Issue of Equity shares
Forfeiture of Shares, Reissue of Forfeited
Shares
Buy Back of Equity Shares
Under writing of Shares and Debentures
Part I – Form of Balance Sheet
Part II – Form of Statement of Profit and Loss
Cash Flow Statement (AS 3)
Accounting for Amalgamation [AS -14]
Internal Reconstruction
Accounting involved in liquidation of companies
Section C – Auditing (40 marks)
Nature, scope and significance of Audit
Internal Check, Internal Control
Auditor’s qualification, disqualification,
appointment, remuneration ,removal, power and
duties
Reporting requirements under companies act
Audit of shares and debentures
Audit of Government Companies
Note: The Topics listed below are meant to be given
higher importance during exam preparation and we no
way mean that other topics can be skipped.
SECTION A: INCOME TAX [65 MARKS]
1. Income Tax Act, 1961 –
Basic Concepts and definitions
Residential Status and Incidence of Tax
2. Sec.10 CMA Inter Important Topics
3. Heads of Income and Computation of Total Income
under various heads
Income from salaries
Capital gains
Income from other sources
4. Tax Planning and Tax Management
Concept and application
For setting up new business units
Tax incentives and Export Promotion Schemes,
exemptions
Computation of income and Return of Income
Tax, Filing procedure, e-filing
Penalties, Fines and Prosecution
SECTION B: WEALTH TAX [10 MARKS]
Wealth Tax Act, 1957
concept and charge of wealth tax
exempted assets
Valuation of assets
Return of Wealth Tax and assessment procedure
SECTION – C – INTERNATIONAL TAXATION [25 MARKS]
Residency issues, source of income
double taxation avoidance agreements
Reference to Cost Accounting Records and Cost
Audit Reports.
General Anti-Avoidance Rules (GAAR) – concept
and application
COST ACCOUNTING AND FINANCIAL MANAGEMENT
Problems :
SECTION A: COST ACCOUNTING – PRIME COSTS &
OVERHEADS [60 MARKS]
Materials
Employee Costs
Overhead CMA Inter Important Topics
SECTION B : FINANCIAL MANAGEMENT [40 MARKS]
Hire Purchase, Forfeiting, Bill Discounting,
Factoring, Asset Securitization
Concepts of Value and Return – Time preference
for money, Future Value, Present Value, Net
Present Value (NPV)
Funds flow and Cash flow Analysis
Analysis Financial Ratio and Cash Flow
Cash and Marketable securities
Financing of working capital
Operating Risk and Financial Risk and Combined
Leverages
Operating leverages and Cost-Volume-Profit
(CVP) analysis, Earning Before Interest and Tax
(EBIT), Earning Per Share (EPS), Indifference
point
Weighted Average Cost of Capital and Marginal
Cost of Capital
payback period method, accounting rate of
return, net present value, internal rate of
return, modified internal rate of return,
discounted payback period and profitability
index.
Theory:
Financial Management – meaning, objectives,
scope, related finance disciplines, planning
environment, key-decision areas
Financial Decision – Making – Emerging role of
finance managers
Time preference for money, Future Value,
Present Value, Net Present Value (NPV) CMA
Inter Important Topics
Operating leverages and Cost-Volume-Profit
(CVP) analysis, Earning Before Interest and Tax
(EBIT), Earning Per Share (EPS), Indifference
point
Meaning, components, methods of determination
of cost of capital related to debt, preference
shares, equity shares, retained earnings,
depreciation fund
Operation Management & Information Systems
Section A: Operations Management [60 marks]
Operations Management – introduction, scope,
need, challenges, role in decision-making CMA
Inter Important Topics CMA Inter Important
Topics
Process strategy , process analysis and design,
production process flow, cost flow, costing
system
Economics and optimization – basics, Pareto
Optimality condition, price-mechanism and
optimum resource allocation,
Studies at work place – Time study, Work study,
Method study, Activity sampling, Work
simplification, Job Evaluation
Project Life Cycle, scheduling with Gantt
Charts, PERT and CPM, Project Risk
measurement
Human Resource Planning and optimization –
introduction, job allocation/assignment
Introduction, features, measurement
techniques of factors of production,
productivity index, productivity of Employee,
productivity of materials, productivity of
management resources
Methods of improving productivity including
quality circles
Total Quality Management (TQM) – basics tools
and certification
Spare parts – Planning, policy and control
Application of Queuing theory in maintenance
and spares management
Section B: Information System [40 marks]
Structured Systems Analysis and Design, Physical
and Logical Data Inflow Diagrams
Data Base Concept, Overview of DBMS, Data
Models, Database Administrator, Database User,
Schema, Data Independence
Definition, scope, planned and unplanned MIS,
MIS information time scale, transaction
processing CMA Inter Important Topics
MIS and Levels of Management – operational
level, tactical level, strategic level
Business Intelligence – Architecture Analysis
Processing Management Accounting Information
MIS in functional areas: Finance & Cost
Management, Inventory, Marketing, HRM,
Financial modeling
Enterprise Resource Planning (ERP)
Cyber laws CMA Inter Important Topics
COST AND MANAGEMENT ACCOUNTANCY
Section A: Cost & Management Accounting – Methods &
Techniques (50 marks)
Necessity and importance of cost accounting
Reconciliation between cost and Financial profit
and loss account; Integrated and non-
integrated accounting and reporting
contract costing, process costing
work-in –progress and abnormal loss accounts
Marginal Costing CMA Inter Important Topics
Integration of Standard Costing with Marginal
Cost Accounting
Absorption Cost Accounting and Throughput
Accounting
Accounting and control of waste, scrap,
spoilage, defective, etc
Budget Concepts and Budget Preparation
Fixed, variable, semi-variable and activity-
based categorizations of cost and their
application in projecting financial results
accounting – methods and reconciliation – stock
valuation
interpretation and uses for Managerial
decision-making activities
Section B: Cost Records and Cost Audit (20 marks)
Cost Audit under Companies Act, 1956
Nature and scope of Cost Audit
Cost Accounting Record Rules, 2011 and Cost
Audit Report Rules,2011
Section C: Economics for Managerial Decision-making
(30 marks)
Concepts of Markets, analysis of market demand
and empirical estimation of demand CMA Inter
Important Topics
Government Intervention and effect
cost analysis
Factor demand and input decisions
Pricing Policies
INDIRECT TAXATION
Features of Indirect Tax, Constitutional
Validity
The Central Excise Law – Goods, Excisable
Goods, Manufacture and manufacturer,
Classification, Valuation, Related Person,
Captive Consumption, CAS 4 CENVAT, Basic
Procedure, Export, SSI, Job Work
Central Excise Audit and Special Audit under 14A
and 14AA of Central Excise Act
Impact of tax on GATT 94, WTO, Anti Dumping
processing
Types of customs duties, Anti-Dumping Duty,
Safeguard Duty
Valuation, Customs Procedures, Import and
Export Procedures
Service Tax ( Full Chapter )
Introduction, Definitions, salient features of
CST Act
Procedures under Central Sales Tax (CST)
Introduction, definitions, salient features of
Sate VAT Act
Filing of return under State VAT Act
Accounting & Auditing VAT
International Taxation & Transfer Pricing
issues in the context of Indirect Taxation CMA
Inter Important Topics
General Anti-Avoidance Rule (GAAR) – concept
and application
COMPANY ACCOUNTS & AUDIT
Section A: Generally Accepted Accounting Principles
(GAAP) (20 marks)
Accounting Standards ( All Standards are Imp. )
AS 11: The Effects of Changes in
Foreign Exchange Rates (Revised 2003)
AS 12: Accounting for Government
Grants
AS 15: Employee Benefits
AS 19: Leases
AS 20: Earning Per Share
AS 26: Intangible Assets
AS 29: Provisions, Contingent Liabilities
and Contingent Assets
Section B: Accounts of Joint Stock Companies (40
marks)
Issue of Equity shares
Forfeiture of Shares, Reissue of Forfeited
Shares
Buy Back of Equity Shares
Under writing of Shares and Debentures
Part I – Form of Balance Sheet
Part II – Form of Statement of Profit and Loss
Cash Flow Statement (AS 3)
Accounting for Amalgamation [AS -14]
Internal Reconstruction
Accounting involved in liquidation of companies
Section C – Auditing (40 marks)
Nature, scope and significance of Audit
Internal Check, Internal Control
Auditor’s qualification, disqualification,
appointment, remuneration ,removal, power and
duties
Reporting requirements under companies act
Audit of shares and debentures
Audit of Government Companies
Note: The Topics listed below are meant to be given
higher importance during exam preparation and we no
way mean that other topics can be skipped.
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