CMA Foundation New Syllabus 2016 – Chapter Wise Details

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CMA Foundation New Curriculum 2016

P1	Principles of Economics & Management
P2	Basics of Accounting
P3	Principles of Laws and Ethics
P4	Basics of Organization Mathematics & Data

Paper 1: Basics of Economics & Management

Contents	Weightage
Area A: Basics of Economics
1. Basic principles of Economics	25%
2. Kinds of Market	25%
3. Cash and Banking	10%
Section B: Basics of Management
4. Management Process	40%

Section A: Basics of Economics [50 Marks]

1. Basic Ideas of Economics– Micro & Macro Economics

• ( a) The Fundamentals of Economics
• ( b) Utility, Wealth, Production
• ( c) Theory of Demand (meaning, determinants of demand, law of demand, elasticity of demandprice, income and cross elasticity) and Supply (significance, determinants, law of supply and elasticity of supply)
• ( d) Stability
• ( e) Theory of Production (significance, factors, laws of production- law of variable proportion, laws of returns to scale)
• ( f) Expense of Production (concept of costs, short-run and long-run costs, typical and minimal costs, total, repaired and variable costs)

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2. Forms of Market

• Pricing methods in different forms of markets

3. Cash and Banking

• ( a) Definition of Cash, Types, Functions and Functions
• ( b) Meaning, functions, utility, concepts of Banking
• ( c) Industrial Banks, Central Bank
• ( d) Measures of credit control and Money Market

Area B: Fundamentals of Management [50 Marks]

4 Management Process

• ( a) Intro, preparation, arranging, staffing, leading, control, interaction, co-ordination
• ( b) Concept of Power, Authority, Delegation of Authority, Responsibility, Accountability
• ( c) Leadership & Inspiration– Idea & Theories
• ( d) Decision-making– kinds of decisions, decision-making process.

Paper– 2: Basics of Accounting

Contents	Weightage
Area A: Principles of Financial Accounting
1. Accounting Basics	35%
2. Accounting for Special Transactions	20%
3. Preparation of Last Accounts	25%
Area B: Fundamentals of Expense Accounting
4. Fundamentals of Expense Accounting	20%

Area A: Fundamentals of Financial Accounting [80 Marks]

Accounting Basics

• Accounting Concepts, Principles and Conventions
• Capital and Earnings deals– capital and income expenditures, capital and profits invoices
• Double entry system, Books of prime entry, Subsidiary Books, Money Book
• Journal, Ledger, Trial Balance
• Devaluation– Techniques (Straight Line and Diminishing Balance methods only)
• Rectification of Mistakes
• Opening entries, Transfer entries, Adjustment entries, Closing entries
• Bank Reconciliation Statements

Accounting for Special Transactions

• Expenses of Exchange (excluding lodging expense, insolvency)
• Consignment (expense rate, billing rate, commission & appraisal of stock)
• Joint Endeavor

Preparation of Last Accounts:

• Of a Profit making issue (for sole proprietorship concern only)
• Accounting treatment of bad debts, reserve for bad and uncertain financial obligations, provision for discount rate on debtors and provision for discount rate on lenders.
• Preparation of Trading Account, Earnings & Loss Account and Balance Sheet.
• Of a Not-for- Earnings making concern
• Preparation of Invoices and Payments Account
• Preparation of Earnings and Expenditure Account

Section B: Principles of Cost Accounting [20 Marks]

Basics of Cost Accounting

• Significance, Meaning, Significance of Cost Accounting, its relationship with Financial Accounting & Management Accounting.
• Classification of Expenses
• Format of Expense Sheet

Paper 3– Fundamentals of Laws and Ethics

CONTENTS	Weightage
Area A: Fundamentals of Commercial Laws
1. Negotiable Instruments Act, 1881	10%
Section B: Principles of Ethics
4. Area A: Principles of Commercial and Industrial Laws 1 Indian Contracts Act, 1872 Vital components of an agreement, deal and acceptance Space and voidable arrangements Factor to consider, legality of things and consideration Capacity of Celebrations, free authorization Quasi Agreements, Contingent Agreements Efficiency of contracts Discharge of agreements Breach of Agreement and Remedies for Breach of Agreement 2 Sale of Goods Act, 1930 Meaning Transfer of ownership Conditions and Guarantees Performance of the Contract of Sale Rights of Unpaid Supplier Auction Sales 3 Negotiable Instruments Act, 1881 Negotiable Instruments -Attributes of Flexible Instruments Meanings of Promissory Keep In Mind, Costs of Exchange and Cheque Differences in between Promissory Keep In Mind, Costs of exchange and Cheque Crossing– Significance, Definition and Types of Crossing. Area B: Fundamentals of Principles Principles and Company Principles– Significance, Importance The “Seven Principles of Public Life”– selflessness, integrity, objectivity, accountability, openness, honesty and management The relationship in between Principles and Law Ethics in Company Paper 4: Principles of Service Mathematics & Stats CONTENTS Weightage Section A: Fundamentals of Service Mathematics 1. Math 20% 2. Algebra 20% Area B: Fundamentals of Service Statistics 3. Analytical representation of Information 10% 4. Steps of Central Tendency and Dispersion 30% 5. Connection and Regression 10% 6. Probability 10% Area A: Fundamentals of Company Mathematics [40 Marks] Arithmetic Ratios, Variations and Proportions Simple and Substance interest Arithmetic Development and Geometric Development. Algebra Set Theory Indices and Logarithms (basic ideas) Permutation and Mixes (fundamental ideas) Quadratic Formulas (fundamental concepts) Area B: Fundamentals of Service Statistics [60 Marks] Statistical Representation of Data Diagrammatic representation of data Frequency distribution Visual representation of Frequency Circulation– Pie Chart, Frequency Polygon Curve, Ogive, Pie-chart Steps of Central Propensity and Dispersion Mean, Mean, Mode, Mean Variance Range, Quartiles and Quartile Variance Standard Discrepancy Co-efficient of Variation Karl Pearson and Bowley’s Co-efficient of Skewness Connection and Regression Scatter diagram Karl Pearson’s Coefficient of Connection Regression lines, Regression formulas, Regression coefficients Likelihood Independent and dependent occasions; Equally exclusive occasions Total and Compound Probability; Baye’s theorem; Mathematical Expectation