- About CMA Intermediate Course
- Eligibility for CMA Inter Registration
- CMA Inter Registration Fee Details
- Documents Required For Registration
- Documents to be enclosed with application form:
- When to Apply for CMA Inter
- How to register for CMA Inter 2017?
- Download Payfee Challan
- Check Online Admission Status
- Where to submit/dispatch filled-in application form?
- List of Subjects in CMA Intermediate
- CMA Inter Syllabus – Contents and Weightage
- PAPER-5: FINANCIAL ACCOUNTING
- PAPER – 6: LAWS AND ETHICS
- PAPER – 7: DIRECT TAXATION
- PAPER – 8: COST ACCOUNTING
- PAPER – 9: OPERATIONS MANAGEMENT & STRATEGIC MANAGEMENT
- PAPER 10: COST & MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT
- PAPER 11: INDIRECT TAXATION
- PAPER 12: COMPANY ACCOUNTS AND AUDIT
Get full details CMA Intermediate Course. In previous article we have provided information about CMA Foundation Course Details. Today we are going to provide information about CMA Inter full details at one place. CMA is the one of the toughest and prestigious course to complete. One must have to work very hard to complete the CMA Course. From this article you can get information about CMA Inter Registration, Eligibility Criteria, Fee Details, How to Register details, Syllabus, Subjects covered & all other important details at one place. CMA Inter exam will be conducted twice a year in the months of June & December by ICAI Board.
About CMA Intermediate Course
Students who are willing to join CMA Inter, must have a clear idea about all the elements covered under CMA Course. We are providing all those details in this article.
Eligibility for CMA Inter Registration
Eligibility for Admission:
Students satisfying any of the condition given below can Register of CMA Intermediate.
- Passed Senior Secondary School Examination (10+2)and Foundation Course of the Institute of Cost Accountants of India/
- Graduation in any discipline other than Fine Arts/
- Foundation (Entry Level) Part I Examination of CAT of the Institute
- Foundation (Entry Level) Part I Examination and Competency Level Part II Examination of CAT of the Institute
- Passed Foundation of ICSI/along with 10+2.
- Intermediate of ICAI by what ever name called along with 10+2.
Registration for the ICAI course is open throughout the year. However, Students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year.
CMA Inter Registration Fee Details
Cost of Prospectus Rs.250
|Intermediate Course (Without Installment)||Rs.20,000/-||Payable on or before 31st January for June term and 31st July for December term of examinations|
|Intermediate (With Installment)||
1. To be eligible for appearing in Intermediate examinations, the 2nd Installment amounting to ` 8000/- must be payable on or before 31st January for June term and 31st July for December term of examinations.
2. If the student fails to pay 2nd installment within the prescribed time limit as mentioned in point no. 1, the installment facility will be still available till next 3 Consecutive terms. The 2nd installment is to be paid within the cut-off dates (on or before 31st January for June term and 31st July for December term of examinations).
3. No student can appear for Intermediate examination without paying 2nd installment.
4. Failure to pay the 2nd installment within the prescribed time limits as mentioned in point no. 1 & 2, will lead to forfeiture of the amount already paid as 1st Installment, except Registration Fees which will be valid for 7 years from the date of Registration.
5. After paying 1st installment student will get study materials of both groups and can opt for oral/postal coaching of either Group (Group I/II) as per the choice of the student.
6. After paying 2nd Installment student will be eligible to opt for oral/postal coaching of other group and computer and other training as applicable.
Documents Required For Registration
|Enrollment Type for Intermediate Course||Minimum documents must be uploaded|
|1) Provisional (Yet to complete Graduation/equivalent)||a) Passport Photo
b) Specimen Signature
c) Age Proof
d) 10th Pass Marksheet
e) 12th Pass Marksheet
f) Graduation (1st & 2nd year / 1st to 5th semester) Marksheet
g) Graduation (3rd year / 6th semester) Admit Card.
|2) Regular (Graduation/equivalent passed)||a) Passport Photo
b) Specimen Signature
c) Age Proof
d) 10th Pass Marksheet.
e) 12th Pass Marksheet.
f) Graduation (1st to 3rd year / 1st to 6th semester) Marksheets/OR.
Any one of the following qualified Marksheet
ii) CMA Foundation
iii) CS Foundation
iv) IPCC-CA Inter
|3)Regular – For Engineering Graduates
having completed 2nd year/ IV semester / equivalent
Graduate Engineers(qualified Engineering Final Examination)
|a) Passport Photo
b) Specimen Signature
c) Age Proof
d) 10th Pass Marksheet.
e) 12th Pass Marksheet.
f) 2nd year or 4th semester Marksheet or equivalent Marksheet(for Engineering students) or Engineering Completion certificate.
Documents to be enclosed with application form:
- Attested Copy of Matriculation Certificate
- Attested copy of 10+2 Certificate or Marks Statement
- Attested copy of the degree
- 3(Three) Passport size photographs – (One pasted on application form, one pasted on identity card and one to be attached with application)
(Attestation should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/State Legislative Assembly or a Gazetted Officer or a Principal of a college)
When to Apply for CMA Inter
Registration for the ICAI course is open throughout the year However, Students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year.
How to register for CMA Inter 2017?
CMA Inter Students who want to admitted or registered or enrolled to Inter or Intermediate course at least 4 months prior to the month of Examination shall be eligible to appear in the Inter Examination, subject to completion of specified trainings.
Step I – Please Visit to following website – https://cmaicmai.in/students/Home.aspx
Step II – Now click on “Click Here” Button
Step III – Now you can see Text : Register as a student, Now click on Intermediate Course
Step IV – Please Select Your Coaching Type and Click on “OK” Button, Now You can see following Screen.
Step V – Fill all columns and submit for Registration
How to pay CMA Inter Registration Fee
The registration fee may be paid in the form of a D.D. or a challan as per the details provided in the application/prospectus and be submitted along with the application for registration.
Download Payfee Challan
You can download CMA Inter Registration Payfee Challan from the official website if CMA (icmai.in). We are directly providing this Challan download link, just click on the below link to download Payfee Challan
Click here: Download Payfee Challan
Check Online Admission Status
Click here to Check : Online Admission Status
Where to submit/dispatch filled-in application form?
All students shall submit their Postal Application form, duly filled in together with relevant documents and remittances to their respective Regional Councils / Chapters only.
Regional Councils and area covered by the region are given below:
|Address of Regional Councils||Area Covered|
|Western India Regional Council “Rohit Chambers”,4th Floor Janmabhoomi Marg,Fort Mumbai – 400 001 Ph : 022-22872010/ 22841138/ 22043406/ 22043416 Fax : 91- 022- 22870763 Email: [email protected] Web site : www.icwai-wirc.org||The State of Chhattisgarh, Gujarat, Madhya Pardesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Heveli.|
|Southern India Regional Council 4, Montieth Lane, Egmore,Chennai – 600 008 Ph:044-28554443/28554326/28528219 Fax : 91- 044- 28554651 Website: www.sircoficwai.com Email: [email protected]||The State of Andhra Pradesh, Karnatka, Kerala, Tamilnadu, Pondicherry and the Unition Terrritory: the Lakshadweep|
|Eastern India Regional Council 84, Harish Mukherjee Road,Kolkatta – 700 025 Ph : 033 -24553418 /24555957 Fax : 91 033-2455-7920 Email: [email protected]||The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries.|
|Northern India Regional Council 3, Institutional Area, Lodi Road,New Delhi – 110 003 Ph : 011 – 24626678 / 24615788 Fax : 24622156 Email: [email protected]||The States of Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajastan, Uttar Pradesh, Uttraanchal and the Union Territory: Chandigarh.|
List of Subjects in CMA Intermediate
Syllabus 2017 – Intermediate Course: Group – 1
Paper – 5 Financial Accounting
Paper – 6 Laws & Ethics
Paper – 7 Direct Taxation
Paper – 8 Cost Accounting
Syllabus 2017 – Intermediate Course: Group – 2
Paper – 9 Operations Management & Strategic Management
Paper – 10 Cost & Management Accounting and Financial Management
Paper – 11 Indirect Taxation
Paper – 12 Company Accounts & Audit
CMA Inter Syllabus – Contents and Weightage
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% weight age. This section contains mainly two topics which has been sited below.
3. Preparation of Final Accounts of Profit Oriented organisations, Non-Profit Organisations and from Incomplete Records
(i) Preparation of Financial statements of Profit Oriented organisations: P&L Account, Balance Sheet.
(ii) Preparation of Financial Statements of Non-Profit making organisations: 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 & Instalment System, Branch & Departmental Accounts) [20 Marks]:
In this section there are three topics, the contents of which has been described in detail here under.
5. Self-Balancing Ledgers
6. Royalty Accounts, Hire Purchase and Instalment System.
7. Branch and Departmental Accounts.
Section D (Accounting in Computerised Environment and Accounting Standards) [15 Marks]:
Section D of Paper-5 of CMA Intermediate Course contain two topics which has been explained hereunder.
8. Computerised 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
(d) Legality of object
(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
(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
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% weight age.
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 Asses see’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
There are six topics in the Paper-8 of CMA Intermediate Course viz. 1) Introduction to cost accounting, 2) Cost ascertainment – elements of cost, 3) Cost accounting standards, 4) Cost book keeping, 5) Methods of costing, and 6) Cost accounting techniques. The first 4 topics have 40% weightage whereas the remaining two topic carries 30% weightage each.
1. INTRODUCTION TO COST ACCOUNTING [10 Marks]
a. Definition, Scope, objectives and significance of cost accounting, its relationship with financial accounting and management accounting
b. Cost Objects, Cost centers and cost units
c. Elements of cost
d. Classification of costs
2. COST ASCERTAINMENT – ELEMENTS OF COST [10 Marks]
a) Material Costs:
i) Procurement of Materials,
ii) Inventory Management and Control,
iii) Inventory Accounting & Valuation
iv) Physical Verification, treatment of losses
v) Scrap, spoilage, defectives and wastage.
b) Employee Costs:
i) Time keeping, Time booking and payroll,
ii) Labour Turnover, Overtime and idle time
iii) Principles and methods of remuneration and incentive schemes
iv) Employee cost reporting and measurement of efficiency.
c) Direct Expenses
i) Collection, classification and apportionment and allocation of overheads
ii) Absorption and treatment of over or under absorption of overheads
iii) Reporting of overhead costs
3. COST ACCOUNTING STANDARDS [10 Marks]
Only basic understanding of CAS-1 to CAS 23 is covered in this topic.
4. COST BOOK KEEPING [10 Marks]
a) Cost Accounting Records, Ledgers and Cost Statements
b) Items excluded from cost and normal and abnormal items/cost
c) Integral accounts
d) Reconciliation of cost accounting records with financial accounts
e) Infrastructure, Educational, Healthcare and Port services
5. METHODS OF COSTING [30 Marks]
a) Job Costing
b) Batch Costing
c) Contract Costing
d) Process Costing – Normal and abnormal losses, equivalent production, Joint and By Products.
e) Operating Costing or Service Costing – Transport, Hotel and Hospital
6. COST ACCOUNTING TECHNIQUES [30 Marks]
Basic Understanding of the following topics are required for CMA Intermediate Course students.
(A) Marginal Costing
i) Meaning of Marginal Cost and Marginal Costing
ii) Absorption Costing vs. Marginal Costing
iii) Break-even analysis
iv) Margin of safety
v) Application of Marginal Costing for decision making (simple problems only)
(B) Standard Costing & Variance Analysis
i) Concept of standard cost and standard costing
ii) Advantages and limitations
iii) Computation of variances relating to material and labour costs only
(C) Budget and Budgetary Control (simple problems only)
i) Concepts, Types of Budgets
ii) Budgetary Control Vs Standard Costing
iii) Advantages and limitations
iv) Preparation of Budgets (simple problems only)
PAPER – 9: OPERATIONS MANAGEMENT & STRATEGIC MANAGEMENT
There are two sections in the Paper-9 of CMA Intermediate Course viz. A) Operations Management and B) Strategic Management.
Section – A (Operations Management) [70 Marks]:
In this section there are 7 topics. The first two topics covers 15% weightage, the next three topics covers 35% weightage and the remaining two topics covers the balance i.e. 20% weightage.
1. Operation Management Introduction
Scope characteristics of modern operations functions – recent trends in production / operations management.
2. Operations Planning
Demand forecasting – capacity planning – capacity requirement planning – facility location – facility layout – Resource aggregate planning – Material requirements planning – Manufacturing resource planning – Economic Batch quantity.
3. Designing of operational systems and control
Product Design, Process design – Selection – Product Life Cycle – Process Planning – Process Selection.
4. Production planning and Control
Introduction – Control Measures – Time study, Work study, Method study, Job Evaluation, Job Allocation (Assignment Technique), Scheduling Queuing Models, Simulation and Line Balancing – Optimum Allocation of resources – Lean Operations – JIT – Transportation Model and Linear Programming Technique (Formulation of equations only).
5. Productivity Management and Quality Management
Measurement techniques of productivity index, productivity of employee, productivity of materials, productivity of management resources, productivity of other factors – productivity improving methods – TQM basic tools and certification – ISO standards basics.
6. Project Management
Project planning – project life cycle – Gantt charts, PERT and CPM.
7. Economics of Maintenance and Spares Management
Break down Maintenance – Preventive Maintenance – Routine Maintenance – Replacement of Machine – Spare Parts Management.
Section – B (Strategic Management) [30 Marks]:
There are three topics in this section which covers 30% weightage of Paper-9 of CMA Intermediate Course.
8. Strategic Management Introduction
Vision- Mission and objective
9. Strategic Analysis and Strategic Planning
Situational Analysis –SWOT Analysis – Portfolio Analysis – BCG Matrices – Stages in Strategic Planning – Alternatives in Strategic Planning
10. Formulation and Implementation of Strategy
Strategy formulation function wise (Production Strategy, Marketing Strategy, Man Power Strategy) – Structuring of Organisation for implementation of strategy – Strategic Business Unit – Business Process re-engineering.
PAPER 10: COST & MANAGEMENT ACCOUNTING AND FINANCIAL MANAGEMENT
There are two sections in Paper-10 of CMA Intermediate Course viz. A) Cost & Management Accounting, and B) Financial Management. Each section carries 50% weight age. The detail contents have been mentioned here under.
Section A (Cost & Management Accounting) [50 Marks]:
In section A there are five topics and the contents of which have been described as follows.
1. Cost and Management Accounting
Introduction to Management Accounting – Relationship between Management Accounting and Cost Accounting
2. Decision Making Tools
a) Marginal Costing: Break Even Analysis and cost-volume-profit analysis; break-even charts and profit charts; differential cost analysis; stock valuation under marginal costing vs. absorption costing; applications of marginal costing in decision making.
b) Transfer Pricing – Determination of Inter-departmental or Inter-company Transfer Price.
3. Budgeting and Budgetary Control
a) Budgetary Control and Preparation of Functional and Master Budgeting
b) Fixed, Variable, Semi-Variable Budgets
c) Zero Based Budgeting (ZBB)
4. Standard Costing & Variance Analysis
Computation of variances for each of the elements of costs, Sales Variances, Investigation of variances – Valuation of Stock under Standard Costing – Uniform Costing and Inter-firm comparison.
5. Learning Curve
Concept of Learning curve and its application
Section B (Financial Management) [50 Marks]:
In section B of Paper-10 of CMA Intermediate Course, there are five topics and the detail contents have been described hereunder. This section carries 50% weightage.
7. Introduction to Financial Management
Meaning – Objectives – Scope of Financial Management sources of Finance – Introduction to Financial Markets.
8. Tools for Financial Analysis and Planning
Financial Ratio Analysis – Funds Flow Analysis – Cash Flow Analysis.
9. Working capital Management
Working Capital Management – Financing of Working Capital
10. Cost of Capital, Capital Structure Theories, Dividend Decisions and Leverage Analysis
Meaning of Cost of Capital – Computation of Cost of Capital – Capital Structure Theories and Dividend Decisions Theories (Walters – MM – Gordon Models) – Leverage Analysis.
11. Capital Budgeting – Investment Decisions
Concept of Capital Budgeting – Non-Discounted and Discounted Cash Flow Method – Ranking of Projects.
PAPER 11: INDIRECT TAXATION
In Paer-11 of CMA Intermediate Course, there are five topics. The first two topics carries 35% weightage and the remaining three topics carries 15%, 30% and 20% weightage respectively.
1. Canons of Taxation – Indirect Tax
Features of Indirect Tax and Constitutional Validity
2. Central Excise
a) Central Excise Law – Goods – Manufacturer – Valuation Rules – Related Party – Captive Consumption – Registration – Payment of Duty – Monthly Returns – Job Work.
b) CENVAT – input Services capital goods and procedures under CENVAT Credit Rules
c) Export procedures
d) SSI provisions
3. Customs Laws
a) Concepts of Customs Law – Types of Duties, Anti-dumping duties
b) Valuation rules – Import Procedures – Export Procedures – Baggage – Stores – Warehousing – Demurrage
4. Service Tax
a) Introduction, Nature of Service Tax, Service Provider and Service Receiver
b) Registration Procedure, Records to be maintained
c) Negative List of Services, Exemptions and Abatements
d) Valuation of Taxable Services (applicable services will be notified for each term of exam)
e) Payment of Service Tax, Returns of Service Tax
f) Point of Taxation Rules, 2012
g) Place of Provision of Service Rules, 2012
h) Other aspects of Service Tax
5. Central Sales Tax and VAT
a) Central Sales Tax
i) Introduction, Definitions, Salient Features of CST Act
ii) Stock Transfer, Branch transfer, Inter State Sale
iii) Various forms for filing of returns under CST
iv) Procedures under Central Sales Tax (CST)
b) Value Added Tax (VAT)
i) Introduction, definitions, salient features of Sate VAT Act
ii) Treatment of stock & branch transfer under State VAT Act
iii) Filing of return under State VAT Act
iv) Accounting & Auditing VAT
PAPER 12: COMPANY ACCOUNTS AND AUDIT
In Paper-12 of CMA Intermediate Course, there are two sections viz. A) Accounts of Joint Stock Companies, and B) Auditing.
Section A (Accounts of Joint Stock Companies) [50 Marks]:
This section covers five topics. The first three topics carries 25% weightage and the remaining two carries 25% weightage. The detail contents have been sited below.
1. Accounting of Shares and Debentures
a) Issue of shares, rights issue, bonus issue, sweat equity shares, forfeiture of share, buy-back of shares
b) Issue and redemption of preference shares, debentures
c) Under writing of shares and debentures
2. Presentation of Financial Statements (as per Schedule III)
a) Statement of Profit and Loss
b) Balance Sheet
3. Cash Flow Statement (AS 3)
4. Accounts of Banking, Electricity and Insurance Companies
a) Accounts of Banking Company
b) Accounts of an Electricity Company
c) Accounts of Insurance Company
5. Accounting Standards (AS – 11, 12, 15, 16, 17, 18 and 19)
Section B (Auditing) [50 Marks]:
Section B of Paper-12 of CMA Intermediate Course covers two topics and the contents of which have been described hereunder.
6. Auditing Concepts
a) Nature, Scope and Significance of Auditing
b) Audit Engagement, Audit Program, Audit Working Papers, Audit Note Book, Audit Evidence and Audit Report
c) Internal Check, Internal Control, Internal Audit – Industry Specific.
7. Provision relating to Audit under Companies Act
a) Auditor’s qualifications, disqualifications, appointment, remuneration, removal, powers and duties.
b) Cost Audit, Secretarial Audit
c) Reporting Requirements under Companies Act, Report vs. Certificate, contents of the reports and qualifications in the report.
d) Miscellaneous Audit
i. Branch Audit, Joint Audit
ii. Audit of shares and debentures
iii. Audit of divisible profits and dividends
iv. Statutory Auditors Vs Internal Auditors
v. Auditing and Assurance Standards relating to audit of inventories and audit of fixed assets
vi. Auditing of different types of undertaking – Education, Hospitals, Cooperative Societies, Banks, Trusts, Municipalities,
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