CMA Foundation New Syllabus – ICMAI

CMA Syllabus: A Comprehensive Overview of the New Curriculum

CMA Foundation Fundamentals Of Business Laws And Business Communication (FBLC) Syllabus for Paper 1 in table format:

Module no.	Module Description	Weight
Section A	Fundamentals of Business Laws	80%
	Introduction	10%
	Indian Contracts Act, 1872	30%
	Sale of Goods Act, 1930	20%
	Negotiable Instruments Act,1881	20%
Section B	Business Communication	20%
	Business Communication	20%

SECTION A: Fundamentals Of Business Laws

1. Introduction
   • Sources of Law
   • Legislative Process in India
   • Legal Methods and Court System in India
   • Primary and Subordinate Legislation
2. Indian Contracts Act, 1872
   • Essential Elements of a Contract, Types of Contract, Offer and Acceptance
   • Void and Voidable Agreements, No Consideration No Contract
   • Consideration, Legality of Object and Consideration
   • Capacity of Parties, Free Consent
   • Quasi and Contingent Contracts
   • Performance of Contracts
   • Meaning of Indemnity, Guarantee, Pledge, Agent
   • E-Contracts and E-Signature – Meanings and Requirements
   • Discharge of Contracts
   • Breach of Contract and Remedies for Breach of Contract
3. Sale of Goods Act, 1930
   • Definition
   • Transfer of Ownership
   • Essential Conditions of a Contract of Sale
   • Conditions and Warranties
   • Performance of the Contract of Sale
   • Rights of Unpaid Seller
4. Negotiable Instruments Act, 1881
   • Characteristics of Negotiable Instruments
   • Definitions of Promissory Note, Bill of Exchange, and Cheque
   • Difference between Promissory Note, Bill of Exchange, and Cheque
   • Crossing – Meaning, Definition, and Types of Crossing
   • Dishonour of Cheques (Section 138)

SECTION B: BUSINESS COMMUNICATION

5. Business Communication
   • Introduction to Business Communication
   • Features of Effective Business Communication
   • Process of Communication
   • Types of Business Communication
     • Formal and Informal Communication
     • Verbal, Non-verbal, and Written Communication
     • Vertical, Horizontal, and Diagonal Communication
     • Upward and Downward Communication
     • Lateral Communication
   • Internet-Based Business Communication
   • Do’s and Don’ts of Communication through Social Media
   • Writing and Drafting for Business Audiences
     • Letter and Memorandum
     • Report – Formal and Informal
     • Business Proposal
     • Enhancement of Writing Skills
   • Intercultural and International Business Communication
   • Barriers to Business Communication
   • Legal Aspects of Business Communication
   • Use of Graphics and References for Business Communication

CMA Foundation Fundamentals Of Financial And Cost Accounting (FFCA) Syllabus for Paper 2, Section A and Section B, presented in a structured table format:

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
   • Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and Regulatory) and Forms of Organisation
   • Accounting Principles, Concepts and Conventions
   • Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and Revenue Receipts
   • 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
   • Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and Rectification Entries), Ledger
   • Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement
   • Trial Balance
   • Adjustment Entries and Rectification of Errors
   • Depreciation (Straight Line and Diminishing Balance Methods only)
   • Accounting Treatment of Bad Debts and Provision for Doubtful Debts
2. Accounting for Special Transactions
   • Consignment
   • Joint Venture
   • Bills of Exchange (excluding Accommodation Bill, Insolvency)
3. Preparation of Final Accounts
   • Preparation of Financial Statements of Sole Proprietorship
     • Income Statement, Balance Sheet
   • Preparation of Financial Statements of a Not-for-Profit Organisation
     • Preparation of Receipts and Payments Account
     • Preparation of Income and Expenditure Account
     • Preparation of Balance Sheet

Section B: Fundamentals Of Cost Accounting

4. Fundamentals of Cost Accounting
   • Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting
   • Application of Cost Accounting for Business Decisions
   • Definition of Cost, Cost Centre, Cost Unit and Cost Drivers
   • Classification of Costs (with reference to Cost Accounting Standard 1)
   • Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)

CMA Foundation Fundamentals Of Business Mathematics And Statistics (FBMS) Syllabus for Paper 3, Section A and Section B, presented in a structured table format:

Module no.	Module Description	Weightage
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

CMA Foundation Fundamentals Of Business Economics And Management (FBEM) Syllabus for Paper 4 presented in table format:

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%
	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, Environmental 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, Organising, 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 2023 Exam Pattern

Candidates preparing for the CMA Foundation 2023 exam should be familiar with the official exam pattern. The CMA Foundation question paper follows a specific exam pattern, which includes details such as the mode of the exam, medium of language, total marks, time duration, type of questions, and more.

Particulars	Details
Mode of Exam	Offline centre-based mode
Type of Questions	MCQ based questions
Exam Duration	3 hours
Total Marks	100 marks per paper
Number of Papers	4
Medium of Exam	English
Marking Scheme	No negative marking

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CMA 2023 New Study Material

CMA Foundation Study Material 2023 is an essential resource for candidates preparing for the CMA Foundation exam. The official study material, provided by ICMAI, can be accessed online in PDF format on the ICMAI’s official website at no extra cost. Candidates who opt for postal registration will receive the study material by mail once they are assigned a registration number. This study material is a valuable tool to kickstart your preparation for the CMA Foundation exam.

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