CMA Foundation Fundamentals of Laws and Ethics Syllabus, Book

CMA Foundation Basics of Laws and Ethics Syllabus, Book. ICAI represents The Institute of Cost Accounting Professionals of India. Earlier known as The Institute of Expense and Works Accountants of India was relabelled as The Institute of Expense Accountants of India vide, The Cost and Works Accountants (Amendment) Act, 2011.

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Expense Accounting professionals are in terrific demand in government sector, economic sector, banking & finance sector, developmental firms, education, training & research sector along with in service and public utility sector. Further, in view of their specialized understanding and training, CMAs may hold leading management position in public and economic sectors’ enterprises like Chairman cum Managing Directors, Managing Director, Financing Director, Financial Controller, Chief Financial Officer, Cost Controller, Marketing Manager and Chief Internal Auditor and other essential positions.

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Content in this Short Article.

CMA Structure Principles of Laws and Ethics Syllabus

Area A: Fundamentals of Business Laws 70%
1. Flexible Instruments Act,1881 10%
Section B: Principles of Ethics 30%

Indian Contracts Act, 1872

  • ( a) Necessary elements of an agreement, deal and acceptance
  • ( b) Void and voidable contracts
  • ( c) Factor to consider, legality of item and consideration
  • ( d) Capability of Celebrations, free authorization
  • ( e) Quasi-contracts, Contingent agreements
  • ( f) Efficiency of agreements
  • ( g) Discharge of agreements
  • ( h) Breach of Contract and Treatments for Breach of Agreement

Sale of Product Act, 1930

  • ( a) Meaning
  • ( b) Transfer of ownership
  • ( c) Conditions and Service Warranties
  • ( d) Performance of the Contract of Sale
  • ( e) Rights of Unpaid Vendor
  • ( f) Auction Sales

3. Negotiable Instruments Act, 1881

  • ( a) Negotiable Instruments– Attributes of Negotiable Instruments
  • ( b) Definitions of Promissory Keep In Mind, Costs of Exchange and Cheque
  • ( c) Difference in between Promissory Note, Bill of Exchange and Cheque
  • ( d) Crossing– Significance, Definition and Kind Of Crossing.

4. Principles and Company

  • ( a) Principles– Meaning, Importance
  • ( b) The “Seven Concepts of Public Life”– Altruism, Stability, Neutrality, Responsibility, Openness, Sincerity and Management
  • ( c) The relationship in between Ethics and Law
  • ( d) Ethics in Organization


  • CMA Structure Mock Test Papers
  • CMA Foundation Concern Documents
  • Direct Entry Plan to CA Course
  • How to Become CMA in India
  • CMA Structure New Syllabus


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