cma inter subjects

ICMAI CMA Inter Subjects & Syllabus 2023 of Group 1 & 2

The Institute of Cost Accountants of India (ICMAI) oversees and administers CMA Intermediate, the second level of the CMA programme. There are eight subjects total in the extensive CMA Inter syllabus.

There are two groups of four subjects each made up of the eight CMA Inter subjects. The official website of ICMAI or this page both contain the CMA Inter syllabus 2023 for all subjects.

The CMA Inter syllabus provides in-depth details about the themes, topics, and weights assigned to each chapter. In order to properly study for the tests, students must be aware of the CMA Intermediate 2023 curriculum and the weighting of the marks.

You can therefore discover the entire 2023 syllabus for the CMA Inter topics for both groups in this thorough post. Let’s learn all the specifics.

CMA Inter Subjects and Syllabus for the 2023 Exams

The topics covered in the CMA Intermediate course are divided into additional subtopics and are generally pertinent to cost accounting, finance, taxation, etc.

The topics covered in the CMA Intermediate curriculum give students a thorough understanding of law, direct and indirect taxes, management, and financial and cost accounting.

Here are the CMA Inter Subjects:

  • Paper – 5: Financial Accounting
  • Paper – 6: Law and Ethics
  • Paper – 7: Direct Taxation
  • Paper – 8: Cost Accounting
  • Paper – 9: Operations Management & Strategic Management
  • Paper – 10: Cost and Management Accounting and Financial Management
  • Paper – 11: Indirect Taxation
  • Paper – 12: Company Accounts & Audit

CMA Inter Group 1 Syllabus 2023

The syllabus CMA Inter Group 1 subjects from Paper 5 to Paper 8 are as follows:

Paper – 5: Financial Accounting

Topics Marks
Section – A: Accounting 25 marks
1. Fundamentals of Accounting
2. Accounting for Special Transactions
Section – B: Preparation of Financial Statements 40 marks
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 20 marks
5. Self-Balancing Ledgers
6. Royalties, Hire-Purchase and Installment System
7. Branch and Departmental Accounts
Section – D: Accounting in Computerized Environment and Accounting Standards 15 marks
8. Overview of Computerized Accounting
9. Accounting Standards
Total 100 maximum marks

Paper – 6: Law and Ethics

Topics Marks
Section – A: Commercial Laws 30 marks
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
5. Limited Liability Partnership Act, 2008
Section – B: Industrial Laws 25 marks
6. Factories Act, 1948
7. Payment of Gratuity Act, 1972
8. Employees Provident Fund and Miscellaneous Provisions 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
13. Pension Fund Regulatory and Development Authority Act, 2013
Section – C: Corporate Law 35 marks
14. Companies Act, 2013
Section – D: Ethics Ten marks
15. Business Ethics
Total 100 maximum marks

Paper – 7: Direct Taxation

Topics Marks
Section – A: Income Tax Act Basics Ten marks
1. Introduction to Income Tax Act, 1961
2. Income which does not form part of Total Income (Section 10, 11 to 13A)
Section – B: Heads of Income and Computation of Total Income and Tax Liability 70 marks
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 and tax liability of different persons
Section – C: Tax Management, Administrative Procedures, and ICDS 20 marks
6. TDS, TCS and Advance Tax
7 Administrative Procedures
8. Income Computation and Disclosure Standards – (ICDS)
Total 100 maximum marks

Paper – 8: Cost Accounting 

Topics Marks
1. Introduction to Cost Accounting 40 marks
A. Cost Ascertainment – Elements of Cost
B. Cost Accounting Standards
C. Cost Book Keeping
2. Methods of Costing 30 marks
3. Cost Accounting Techniques 30 marks
Total 100 maximum marks

CMA Inter Group 2 Syllabus 2023

The CMA Inter Group 2 subjects are from Paper 9 to Paper 12 and are as follows:

Paper – 9: Operations Management & Strategic Management 

Topics Marks
Section – A: Operations Management 70 marks
1. Operations Management – Introduction 15 marks
2. Operations Planning
3. Designing of Operational Systems and Control 35 marks
4. Production Planning and Control
5. Productivity Management and quality management
6. Project Management 20 marks
7. Economics of Maintenance and spares management
Section – B: Strategic Management 30 marks
8. Strategic Management Introduction
9. Strategic Analysis and Strategic Planning
10. Formulation and Implementation of Strategy
Total 100 maximum marks

Paper – 10: Cost and Management Accounting and Financial Management 

Topics Marks
Section – A: Cost & Management Accounting and Financial Management 50 marks
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 50 marks
6. Introduction to Financial Management
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
Total 100 maximum marks

Paper – 11: Indirect Taxation 

Topics Marks
Section – A: Cannons of Taxations – Indirect Tax GST 80 marks
Section – B: Customs Laws 20 marks
Total 100 maximum marks

Paper – 12: Company Accounts & Audit

Topics Marks
Section – A: Accounts of Joint Stock Companies 50 marks
1. Accounting of Shares and Debentures (25 marks)
2. Presentation of Financial Statements (as Per Schedule III)
3. Cash Flow Statement
4. Accounts of Banking, Electricity and Insurance Companies (25 marks)
Section – B: Auditing 50 marks
Part – A: Auditing Concepts (20 marks )
Part – B: Provision relating to Audit under the Companies Act (30 marks )
Total 100 maximum marks

CMA Intermediate Exam Pattern 2023

Students must be familiar with the exam format to achieve the highest CMA results. ICMAI’s website offers official facts about the exam’s format, number of papers, types of questions, grading system, duration, language, and other essential information. 

The table below mentions the CMA Inter exam pattern 2023:

Particulars Details
Mode of the examination Offline, Pen-Paper Based
Type of questions Objective & Subjective
Maximum marks for each subject 100
Number of CA Inter Subjects 8
Exam Duration 3 hours
Negative Marking No negative marketing

Students preparing for the 2023 exams can join the CMA Intermediate Coaching of Inspire Academy. Here, you’ll get lectures from the top faculty, mock tests and personal attention.

FAQs of CMA Inter Subjects

How many papers are in CMA Intermediate?

There are eight CMA Inter Subjects, categorized into group 1 and group 2. Also, each subject carries 100 marks, and there is no negative marking. Moreover, students need to clear all eight subjects to qualify for the CMA Final. 

Which group of CMA Inter is easy?

The overall opinion is that CMA group 2 is easier than CMA group 1. Furthermore, CMA group 2 passing rates are much greater than group 1 pass rates.

From where can I get the syllabus of the CMA Inter subjects?

You can get the CMA Intermediate syllabus from the official website of ICMAI, and you can download the CMA Inter Syllabus PDF. Also, you can find the direct links above in this post for all CMA Inter Subjects. 

How to Clear CMA Inter Group – 1 | CMA Exam Tips

The CMA Intermediate examination represents the second level of the three stages one needs to clear to become a Cost and Management Accountant (CMA) licensed by the Institute of Cost and Management Accountants of India (ICMAI). CMA Intermediate consists of 2 groups.
Group 1 includes Paper-5 (Financial Accounting), Paper-6 (Laws and Ethics), Paper-7 (Direct Taxation), and Paper-8 (Cost Accounting), and Group 2 includes Paper-9 (Operations Management and Strategic Management, Paper-10 (Cost & Management Accounting and Financial Management), Paper-11 (Indirect Taxation), and finally, Paper-12 (Company Accounts & Audit).Group 1 includes Paper-5 (Financial Accounting), Paper-6 (Laws and Ethics), Paper-7 (Direct Taxation), and Paper-8 (Cost Accounting), and Group 2 includes Paper-9 (Operations Management and Strategic Management, Paper-10 (Cost & Management Accounting and Financial Management), Paper-11 (Indirect Taxation), and finally, Paper-12 (Company Accounts & Audit).

CMA Inter group 1 – Financial Accounting

  1. Financial accounting is all about memorization of the journal entries. You can try to understand how those entries are written (for example Bills of Exchange or Consignment Accounting), but unless you have commerce background, you are better off writing down the journal entries for different transactions on a paper and memorizing the same.
  2. At the end of the Financial Accounting examination paper, you shall find at least 15 marks worth of questions that are short-answer/short-note based. Those questions are often based on the concepts from different chapters, so you CANNOT afford to skip any parts of the theory.
  3. Practice writing and drawing financial statements by hand. It’s tempting to simply write the journal entries and be done with the questions, but your speed shall not improve unless you completely answer the questions by hand.
  4. Do NOT skip the following chapters: Accounting Standards, Accounting for Non-Profit Organizations (NPO), Royalties, and Partnerships (if you have the time). Those topics carry huge marks and skipping them drastically reduces your chances of passing the examinations.
  5. Read aloud the theory parts of the chapters if you can learn from hearing and reciting the information; reading is often quicker than writing and hence, it will save you ample amounts of time.

CMA Inter group 1 – Laws and Ethics

  1. Laws and ethics are about memorization and application of concepts to scenario-based questions and caselets. You might need to read this subject a bit every day so that you do not forget the various laws.
  2. Stick to the ICMAI study material only (study material, RTPs, and MTPs). This goes for CMA Intermediate preparation in general, but in terms of theory subjects like Laws and Ethics, it’s even more important so you don’t get confused studying 5 different versions of the same law.
  3. Avoid rewriting large chunks of information. Laws and Ethics are completely theory-based subjects, and you will only be wasting your time. However, you can make note of the main points to remember for any law which will help you recollect the information with ease when you are revising.
  4. Instead of spending hours reading the study material and trying to understand what a law is all about, check out SuperProfs’ simplified videos on Laws and Ethics to get the idea of what each law is all about quickly.
  5. The Companies Act, 2013 is the biggest chapter in the syllabus, but if you can study it like a story instead of mugging up the concepts one after another, you are likely to retain more information in memory.
  6. Avoid writing or memorizing the years for the different laws unless you are 100% confident that you will get them correctly in the examination. We suggest that you do NOT take the risk, because ICMAI does not reward you extra marks for getting the dates or years correctly, but you will certainly lose marks if you get those wrong.

CMA Inter group 1 – Direct Taxation

  1. Do NOT memorize the Section numbers for the various acts unless you are 100% sure you will get them right in the examination. From our experience, we would advise you to not try.
  2. Make a list of all the deductions under various sections and memorize those with their given amounts. For example, Under Section 80C, one can claim a total of INR 1,50,000 as a deduction from their taxable income.
  3. For chapters like Residential Income, make sure you create tables that summarize the information (for example the bases to determine whether a person’s income should be taxed or not).
  4. Practice as many questions as you can. Questions from the direct taxation subject can be lengthy and you may need much more time to complete them.
  5. Draw the “Steps to Solve” for each kind of questions on charts and stick them up where you can see them. An example of this would be how the taxable income of an individual is computed under Income from Salaries.
  6. Do NOT skip the 5 heads including Income under the Head ‘Salaries’, ‘Capital Gains’, ‘House Property’, ‘Profits and Gains from Business and Profession’, and ‘Income from Other Sources’.

CMA Inter group 1 – Cost Accounting

  1. Cost accounting is the core competency of Cost and Management Accountants (CMAs), so Cost Accounting (Paper-8) is one of the most difficult papers, so do not underestimate it at any point.
  2. Do NOT skip Materials, Labor, and Overheads; those 3 chapters form the base/core of the whole of Cost Accounting syllabus.
  3. Construction Costing and Cost Accounting Standards (CAS) are relatively simpler chapters; therefore, ensure that you can master both as they are an easy way to score marks.
  4. Print a list of the Cost Accounting Standards (CAS) from 1-24 and stick it where you will be able to see it every day. This way, you shall not forget that information.
  5. There can be a lot of formulae in Cost Accounting, particularly in chapters like Materials, Labor, Overheads, and Standard Costing. Maintain a formula sheet with those on it and study it at least 2 times per day: once in the morning and once before you go to sleep.