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The second level of the CMA course is CMA Intermediate, administered and governed by the Institute of Cost Accountants of India (ICMAI). The CMA Inter syllabus is vast and consists of 8 subjects.

CMA Intermediate Syllabus & Subjects: Marks & Weightage

The CMA Intermediate course includes Six subjects divided into groups of 4 papers each. Before preparing for the Intermediate exams, students must go through the complete syllabus of each subject to know the topics that need to be covered. It will also contain the marking scheme of the topics.

CMA Intermediate Group 1 Syllabus and Structure (New Syllabus)
  • Paper 1: Financial Accounting
  • Paper 2: Law and Ethics
  • Paper 3: Direct Taxation
  • Paper 4: Cost Accounting
CMA Intermediate Group 2 Syllabus and Structure (New Syllabus)
  • Paper 5: Operations Management & Strategic Management
  • Paper 6: Cost and Management Accounting and Financial Management
  • Paper 7: Indirect Taxation
  • Paper 8: Company Accounts & Audit

CA Intermediate Syllabus

CA Intermediate Group 1 Syllabus
Paper-1: Financial Accounting (FAC)

The CA Intermediate Financial Accounting syllabus for the exams is as follows:

Section – A: Accounting :
  1. Fundamentals of Accounting
  2. Accounting for Special Transactions
Section – B: Preparation of Financial Statements :
  1. Preparation of Final Accounts of Profit Oriented organizations, Non-Profit Organizations and from Incomplete Records.
  2. Partnership Accounts
Section – C: Self-Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts
  1. Self-Balancing Ledgers.
  2. Royalties, Hire-Purchase and Installment System.
  3. Branch and Departmental Accounts
Section – D: Accounting in Computerized Environment and Accounting Standards :
  1. Overview of Computerized Accounting
  2. Accounting Standards
Paper-2 : Laws and Ethics

The CMA Intermediate AFM syllabus for the exams is as follows:

Section A- Commercial Laws
  1. Laws of Contracts (Advanced level)
  2. Laws relating to Sale of Goods (Advanced level)
  3. Negotiable Instruments Act,1881 (Advanced Level)
  4. Indian Partnership Act, 1932
Section B- Industrial Laws
  1. Factories Act, 1948
  2. Payment of Gratuity Act, 1972
  3. Employees Provident Fund and Miscellaneous Provisions Act, 1952
  4. Employees State Insurance Act, 1948
  5. Payment of Bonus Act, 1965
  6. Minimum Wages Act, 1948
  7. Payment of Wages Act, 1936
  8. Pension Fund Regulatory and Development Authority Act, 2013
Section C- Corporate Law
  1. Companies Act, 2013
Section D- Ethics
  1. Business Ethics.
Paper-3 :Direct Taxation (DTX)

The CMA Intermediate DTX syllabus for the exams is as follows:

Section A- Income Tax Act Basics 10%
  1. Introduction to Income Tax Act, 1961
  2. Income is not part of Total Income
Section B- Head of Income, Computation of Total Income and Tax
  1. Heads of Income and Computation of Total Income
  2. Clubbing Provisions and the Set-off and Carry forward of Losses
  3. Assessment of Income and tax liability of different people
Section C- Tax Management, Administrative Procedures and ICDS
  1. TDS, TCS and Advance Tax
  2. Administrative Procedures
  3. Income Computation and Disclosure Standards – (ICDS)
Paper-4 :Cost Accounting (CA)

The CMA Intermediate Cost Accounting syllabus for the exams is as follows:

Section A- Introduction to Cost Accounting
  1. Cost Ascertainment – Elements of Cost
  2. Cost Accounting Standards
  3. Cost Bookkeeping
  • Methods of Costing
  • Cost Accounting Techniques
CA Intermediate Group 2 Syllabus
Paper-5 : Operation Management & Strategic management (OMSM)
Section A- Operations Management
  1. Operations Management – Introduction
  2. Operations Planning
  3. Designing of Operational Systems and Control
  4. Production Planning and Control
  5. Productivity Management and quality management
  6. Project Management
  7. Economics of Maintenance and spares management
Section B- Strategic Management
  1. Strategic Management Introduction
  2. Strategic Analysis and Strategic Planning
  3. Formulation and Implementation of Strategy
Paper-6 : Cost and Management Accounting, Financial Management
Section A- Cost, Management Accounting and Financial Management
  1. Cost and Management Accounting – Introduction
  2. Decision Making Tools
  3. Budgeting and Budgetary Control
  4. Standard Costing and Variance Analysis
  5. Learning Curve
Section B- Financial Management
  1. Introduction to Financial Management
  2. Tools for Financial Analysis and Planning
  3. Working Capital Management
  4. Cost of Capital, Capital Structure Theories, Dividend Decisions
  5. Capital Budgeting – Investment Decisions
Paper-7 : Indirect Taxation (ITX)
Section A- Canons of Taxations
  1. Indirect Tax GST
Section B - Customs Laws
  1. Basic Concepts.
  2. Types of Duties.
  3. Valuation under Customs.
  4. Import and Export Procedure.
  5. Customs Rules, 2017.
Paper-8 : Operations Management & Strategic Management
Section A- Accounts of Joint Stock Companies (50%)
  1. Accounting of Shares and Debentures
  2. Presentation of Financial Statements
  3. Cash Flow Statement
Section B- Auditing (50%)
  1. Accounts of Banking, Electricity and Insurance Companies.
  2. Accounting Standards.
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CMA Intermediate Course