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New Syllabus for CMA Intermediate Course from 1st August 2016

ICAI (Cost) Students admitted to CMA Intermediate Course on and after 01/08/2016 shall appear under new Syllabus-2016 from June, 2017 examinations.
CMA Intermediate Course New Syllabus

On Friday, June 26, 2015, the Institute of Cost Accountants of India [ICAI (Cost)] has notified vide notification No. CMA (3)/2015 that all students who shall take admission to CMA Intermediate Course on and after first day of February, 2016 shall pursue course under the new “Syllabus 2016”.

[Updated] However, CMA Institute has clarified vide its Circular No. G/128/4/2015-16 dated December 24, 2015 that the “Syllabus-2016” will be implemented with effect from 1st August 2016 instead of February 2016 and the first examination under syllabus-2016 shall take place in June, 2017.

The notification was issued in pursuance of sub-regulation (b) of Regulation 20B and Regulation 31 of the Cost and Works Accountants Regulations, 1959 and by exercising the powers conferred by clause (a) of sub-section (2) of Section 15 of the Cost and Works Accountants Act, 1959.

New Syllabus-2016 for CMA Intermediate Course

Under the new syllabus 2016 of CMA Intermediate Level examination, each groups consisting of four papers has now been further segregated into “Module” of two papers. Accordingly, you may appear in Module/Modules as per your choice under new syllabus.

The First CMA Intermediate Examination under new “Syllabus 2016” shall be conducted in December, 2016 June 2017 as well as the Last Examination under old “Syllabus 2012” shall be conducted in June 2017 December 2017.

You may understand the details of examinations which shall be conducted simultaneously under both Syllabi by the following table:

CMA Intermediate Course Examination
Term of Examination
Examinations to be held under
December 2016
Syllabus 2012
No Exam under Syllabus 2016
June 2017
Syllabus 2012
Syllabus 2016 (First Exam)
December 2017
Syllabus 2012 (Last Exam)
Syllabus 2016
June 2018 and onwards
No Exam under Syllabus 2012
Syllabus 2016

Trainings and Quality Assessment Tests during CMA Intermediate Course:

You have to complete these compulsory training and assessment test before appearing for Intermediate examinations.

i) 100 hours Compulsory Computer Applications Training
ii) Communication & Soft Skills Training (Mandatory requirement) (3 days)
iii) On-line (24×7) Web-based Centralized Quality Assessment Test to seek eligibility (Mandatory Requirement to Qualify) with an eligibility criterion of 40% marks for appearing in Examinations.

Group-I

PAPER-5: FINANCIAL ACCOUNTING

There are five sections in paper-5 of CMA Intermediate Course viz. A) Accounting – Basics, B) Preparation of Financial Statements, C) Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts, and D) Accounting in Computerised Environment and Accounting Standards.

Section A (Accounting – Basics) [25 Marks]:

Section A of Paper-5 of CMA Intermediate Course carries 25% weightage. In this section there are two topics which has been discussed below.

1. Fundamentals of Accounting

Accounting – Meaning, Scope and Significance of Accounting – Accounting Principles, Concepts and Conventions – Capital and Revenue Transactions – Depreciation – Rectification of Errors.

2. Accounting for Special Transactions

Bills of Exchange – Consignment – Joint Venture – Insurance Claims (Loss of Stock and Loss of Profit)

Section B (Preparation of Financial Statements) [40 Marks]:

Section A of Paper-5 of CMA Intermediate Course carries 40% weightage. This section contains mainly two topics which has been sited below.

3. Preparation of Final Accounts of Profit Oriented organizations, Non-Profit Organizations and from Incomplete Records

(i) Preparation of Financial statements of Profit Oriented organizations: P&L Account, Balance Sheet.
(ii) Preparation of Financial Statements of Non-Profit making organizations: Preparation of Receipts & Payments Account, Income& Expenditure account and Balance Sheet.
(iii) Preparation of Financial Statements from incomplete records (Single entry)

4. Partnership Accounts

Admission, Retirement, Death, Treatment of Joint Life Policy, Dissolution of partnership firms including piece meal distribution, Amalgamation of partnership firms, Conversion of partnership firm into a company and sale of partnership firm to a company

Section C (Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts) [20 Marks]:

In this section there are three topics, the contents of which has been described in detail hereunder.

5. Self-Balancing Ledgers

6. Royalty Accounts, Hire Purchase and Installment System.

7. Branch and Departmental Accounts.

Section D (Accounting in Computerized Environment and Accounting Standards) [15 Marks]:

Section D of Paper-5 of CMA Intermediate Course contain two topics which has been explained hereunder.

8. Computerized Accounting System – Features, Significance, Grouping of Accounts, Ledger hierarchy, Accounting Packages and their selection criteria

9. Accounting Standards (AS-1, AS-2, AS-6, AS-7, AS-9, AS-10)

PAPER – 6: LAWS AND ETHICS

There are four sections in Paper-6 of CMA Intermediate Course viz. A) Commercial Laws, B) Industrial Laws, C) Corporate Law, and D) Ethics.

Section A (COMMERCIAL LAWS) [30 Marks]:

Section A of Paper-6 of CMA Intermediate Course contains topics of the following five laws.

1. Indian Contracts Act, 1872

(a) Essential elements of a contract, offer and acceptance
(b) Void and voidable agreements
(c) Consideration
(d) Legality of object
(e) e-contracts
(f) Constraints to enforce contractual obligations
(g) Quasi-contracts, contingent contracts, termination or discharge of contracts
(h) Special contracts: Indemnity and Guarantee; Bailment and Pledge; Laws of Agency

2. Sale of Goods Act, 1930

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

3. Negotiable Instruments Act, 1881

(a) Definition and features of NI
(b) Crossing, Endorsement and Material Alteration
(c) Acceptance, Assignment and Negotiation
(d) Rights and liabilities of Parties
(e) Dishonor of a Negotiable Instrument.

4. Indian Partnership Act, 1932

(a) Nature of Partnership
(b) Rights and liabilities of Partners
(c) Formation, Reconstitution and Dissolution of Firms

5. Limited Liability Partnership Act, 2008

a) Concept, formation, membership, functioning
b) Dissolution

SECTION B (INDUSTRIAL LAWS) [25 Marks]:

The Objects, Scope and Applicability of the following acts are covered under Section B of Paper-6 of CMA Intermediate Course.

6. Factories Act, 1948
7. Payment of Gratuity Act, 1972
8. Employees Provident Fund 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

SECTION C (CORPORATE LAWS) [35 Marks]:

This Section covers topics related to the Companies Act, 2013 which carries 35% weightage.

13. Companies Act 2013

a) Company types, promotion, formation and related procedures i.e. Section 1 to Section 122 of Companies Act, 2013
b) Director-Role, Responsibilities, Qualification, disqualification, appointment, retirement, resignation, removal, remuneration and powers, Director Identification Number

SECTION D (ETHICS) [10 Marks]:

Section D of the CMA Intermediate Course contain only one topic that is related to business ethic and the contents has been explained in detail as follows.

14. Business Ethics:

a) Ethics-meaning, importance, nature and relevance to business
b) Values and attitudes of professional accountants
c) Seven principles of public life-selflessness, integrity, objectivity, accountability, openness, honesty and leadership
d) Ethics in Business

PAPER – 7: DIRECT TAXATION

There are three sections in Paper-7 of CMA Intermediate Course viz. A) Income Tax Act Basics, B) Heads of Income and Computation of Total Income and Tax Liability, and C) Administrative Procedures and ICDS.

Section A (INCOME TAX ACT BASICS) [10 Marks]:

In this section there are two topics which has been sited below.

1. Introduction to Income Tax Act, 1961

a) Basic Concepts and definitions
b) Background, concepts, definitions
c) Capital and revenue – receipts, expenditures
d) Basis of charge and scope of total income
e) Residential Status and Incidence of Tax

2. Incomes which do not form part of Total Income [Sec.10, and 11 to 13A]

SECTION B (HEADS OF INCOME AND COMPUTATION OF TOTAL INCOME AND TAX LIABILITY) [70 Marks]:

Section B of Paper-7 of CMA Intermediate Course is very important as it carries 70% weightage. In this section there are five topics related to Income-Tax Act, 1961. The detail contents have been discussed below.

3. Heads of Income and Computation of Total Income under various heads

(a) Income from salaries
(b) Income from House property
(c) Profits and gains from Business or Profession
(d) Capital gains
(e) Income from other sources

4. Clubbing Provisions, Set-off and Carry forward of Losses, Deductions

(a) Income of other persons included in Assessee’s Total Income
(b) Aggregation of Income and Set off or Carry Forward of Losses
(c) Deductions in computing Total Income
(d) Rebates & Reliefs
(e) Applicable Rates of Tax and Tax Liability

5. Assessment of Income of different persons

(a) Taxation of Individuals including Non-residents
(b) Hindu Undivided Family
(c) Firms, LLP, Association of Persons
(d) Co-operative Societies
(e) Trusts, Charitable and Religious Institutions

6. Corporate Taxation

(a) Classification, tax incidence, computation of taxable income and assessment of tax liability
(b) Dividend Distribution Tax (DDT)
(c) Minimum Alternate Tax (MAT)
(d) Other special provisions relating to companies

7. TDS, TCS and Advance Tax

(a) Tax Deduction at Source
(b) Tax Collection at Source
(c) Advance Tax

SECTION C (ADMINISTRATIVE PROCEDURE AND ICDS) [20 Marks]:

In this section there are two topics, the contents of which are explained hereunder.

8. Administrative procedures

a) Return Filing and Refund procedures
b) Demand, Recovery, Assessment, appeal, revision, and settlement.
c) Special Procedure for Assessment of search cases
d) E-commerce Transaction and liability in special cases
e) Penalties, fines and prosecution

9. Income computation and disclosure standards – Basic Concepts only

PAPER – 8: COST ACCOUNTING

Pages: 1 2

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12 Responses to New Syllabus for CMA Intermediate Course from 1st August 2016

  1. lasya.k says:

    hi ..
    I am lasya. I fineshed degree nd nw want to join Cma inter .I have a small doubt . if I want to attend 2 module out of 4 wat would b d registration free nd wen is the last date 2 register 2 attent on Dec. 2016. as per your notification d syllabus will b changed from 1.8.2016 . is it ok if I take up Cma inter this Dec r wait for syllabus change nd attend it on June 2017..

  2. sunny sarma says:

    Hi,, im jst finishd my degree n i want to registr myslf in cma postal course. my qestn is if im doing postal course, is cmputr training is cmpulsory for me too to appering in inter exam nd if cmpulsory than where do i get that training, is cma institute provide their some official training centre? if not, than where do i cmplte my cmputr nd other courses for appearing inter exam?

  3. Puran kumar Singh says:

    Hi, I clear my CMA foundation on December 2015 and I want to give intermediate group 1 exam .According to your updates I totally confused what l do…….

  4. harshitha.h says:

    hello, this is harshitha I wanna know that can I appear for inter group 1 in June 2017 for 2012 syllabus. ….

  5. Abhijeet Jha says:

    Hi.. I have just cleared my CMA foundation exam in June 2016 term. Please tell me the pattern of the new syllabus so that I can register myself under that. What are the major changes in this new syllabus? Do reply please. I am confused.

  6. BG says:

    CMA inter timetable is out for Dec 2016 and below the time table it is mentioned that last exam under syllabus 2012 will be conducted on Dec 2016. Please confirm. As above in this page its mentioned June 2016 as last exam under syllabus 2016.

  7. Aditya mishra says:

    Hello sir , I want to know any amendment in 2016 for December attempts in Cma intermediate 1group???rpl me sir,as soon as possible….

  8. kishan singh says:

    Hello sir, I have clear my grp1 intermediate .I want to know that is my clearance is eligible after applicable of new syllabus 2016.I have registered under 2012 syllabus

  9. Raj says:

    Hello Sir,

    Hope you are doing Well!!!

    Can, please share me Computer training syllabus 2016

  10. preethi. s says:

    For CMA inter n final the last attempt in syllabus 2012 is December 2016.

  11. Rahul verma says:

    Hello sir/madam,I am registered student in. CMA 2012 syllabus. I. Want to asking you that if I don’t appear in dec2016 exam under syllabus 2012 & next year I does’nt appear June 2017 exam in this syallbus so shall I take coaching completion certificate in new course ?pls clarify this matter.

  12. Chandrasekhar B S says:

    Hi sir/madam,

    Currently I am studying CMA 2012 syllabus , can I take 2016 syllabus exams in June 2017.

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