CMA Final Paper-18 New Syllabus June 2023

Download and print CMA Final New Syllabus 2022 for ICMAI June 2023 Exams for elective Paper-18 Corporate Financial Reporting (CFR).

CMA Final New Syllabus 2023: The Institute of Cost Accountants of India has revised new syllabus for CMA Final elective Paper-18 Corporate Financial Reporting (CFR). The new ICMAI Syllabus-2022 shall be applicable from June 2023 term of examinations.

Students taking enrollments in the Final Course have to give one time option about choice of “Elective Paper”.

New Syllabus for CFR

SECTION A: Indian Accounting Standards

1. Specific Accounting Standards

  1. Accounting Policies, Changes in Accounting Estimates and Errors (Ind AS 8)
  2. Income Taxes (Ind AS 12)
  3. Property, Plant and Equipment (Ind AS 16)
  4. Leases (Ind AS 116)
  5. The Effects of Changes in Foreign Exchange Rates (Ind AS 21)
  6. Borrowing Costs (Ind AS 23)
  7. Impairment of Assets (Ind AS 36)
  8. Intangible Assets (Ind AS 38)
  9. Share based Payment (Ind AS 102)
  10. Operating Segments (Ind AS 108)
  11. Fair Value Measurement (Ind AS 113)
  12. Revenue from Contracts with Customers (Ind AS 115)

SECTION B: Valuation of Shares, Accounting and Reporting of Financial Instruments and NBFCs

2. Valuation of Shares (including Determination of Goodwill, Post-valuation of Tangible and Intangible Assets)

3. Accounting of Financial Instruments

4. NBFCs – Provisioning Norms, Accounting and Reporting

SECTION C: Accounting for Business Combination & Restructuring (In Compliance with Ind ASs)

5. Accounting for Business Combination and Restructuring

  1. Introduction
  2. Accounting for Business Combination (Basic Level) with Simple Examples
  3. Absorptions, Amalgamations, External Reconstruction
  4. Detailed Discussion on Business Combination
  5. A Business Combination Achieved in Stages
  6. Reverse Acquisition
  7. Purchase of Shares from/Sale to Non-controlling Interest not Resulting in Loss of Control of the Acquirer
  8. Sale of Holding Resulting in Loss of Control of the Acquirer over the Acquiree
  9. Business Combination under Common Control (Appendix C of Ind AS 103)
  10. Disclosures
  11. Difference between Ind AS 103 and AS 14.
  12. Internal Reconstruction (Capital Reduction)

SECTION D: Consolidated Financial Statements and Separate Financial Statements (In Compliance with Ind ASs)

6. Consolidated Financial Statements and Separate Financial Statements

  1. Introduction to Consolidation
  2. Concept of Significant Influence, Joint Control and Control as per Ind AS
  3. Consolidation Procedure for Investment in Associates, Joint Ventures and Subsidiaries
  4. Measurement of Fair Value of Net Assets, Non-controlling Interest, Goodwill/ Gain on Bargain Purchase, Consolidated Other Equity (including Measurement of Investments under Equity Method)
  5. Accounting and Reporting in Consolidated Financial Statements and in Separate Financial Statements at Acquisition Date – Introductory Examples.
  6. Consolidated Financial Statements and Separate Financial Statements at Subsequent Reporting Date – Introductory Examples.
  7. Consolidated and Separate Financial Statements of Group Entities – Advanced Level Discussion and Examples (including Inter-company Investments, Chain Holding, Crossholding and Other Relevant Matters)
  8. Accounting and Reporting of Joint Operation.
  9. Disclosures

SECTION E: Recent Developments in Financial Reporting

7. Recent Developments in Financial Reporting

  1. 4P Bottom Line Reporting
  2. Sustainability Reporting and Global Reporting Initiative
  3. Business Responsibility and Sustainability Report
  4. Integrated Reporting
  5. Corporate Social Responsibility Reporting in India
  6. Environmental, Social and Governance (ESG)
  7. Human Resource Reporting
  8. Value Added Statement
  9. Economic Value Added and Market Value Added
  10. Reporting through XBRL (eXtensible Business Reporting Language)
  11. Quarterly Earnings Call Management

SECTION F: Government Accounting in India

8. Government Accounting in India

  1. General Principles and Comparison with Commercial Accounting
  2. Role of Comptroller and Auditor General of India
  3. Role of Public Accounts Committee, Review of Accounts
  4. Government Accounting Standards Issued by Government Accounting Standards Advisory Board (GASAB)
  5. Government Accounting and Reporting


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