Papers

CMA Foundation Syllabus 2025

Paper 1

Fundamentals of Business Laws and Business Communication

Paper 2

Fundamentals of Financial and Cost Accounting

Paper 3

Fundamentals of Business Mathematics and Statistics

Paper 4

Fundamentals of Business Economics and Management

Section-wise description

Weightage

Section A: Fundamentals of Business Laws

80%

Introduction

10%

Indian Contract Act, 1872

30%

Sale of Goods Act, 1930

20%

Negotiable Instrument Act, 1881

20%

Section B: Business Communication

20%

Section-wise Description

Weightage

Section A: Fundamentals of Financial Accounting

70%

Accounting Fundamentals

30%

Accounting for Special Transactions

15%

Preparation of Final Accounts

25%

Section B: Fundamentals of Cost Accounting

30%

Section-wise Description

Weightage

Section A: Fundamentals of Business Mathematics

40%

Arithmetic

15%

Algebra

20%

Calculus- Application in Business

5%

Section B: Fundamentals of Business Statistics

60%

Statistical Representation of Data

5%

Measures of Central Tendency and Dispersion

15%

Correlation and Regression

15%

Probability

15%

Index numbers and Time Series

10%

Section-Wise Description

Weightage

Section A: Fundamentals of Business Economics

70%

Basic Concepts

15%

Forms of Market

20%

Money and Banking

20%

Economics and Business Environment

15%

Section B: Fundamentals of Management

30%

Groups

Papers

Group 1

Paper 5: Business Laws and Ethics

Paper 6: Financial Accounting

Paper 7: Direct and Indirect Taxation

Paper 8: Cost Accounting

Group 2

Paper 9: Operations Management and Strategic Management

Paper 10: Corporate Accounting and Auditing

Paper 11: Financial Management and Business Data Analytics

Paper 12: Management Accounting

Section-Wise Description

Weightage

Section A: Commercial Laws

30%

Introduction to law and legal system in India

5%

Indian Contract Act, 1872

10%

Sale of Goods Act, 1930

5%

Negotiable Instrument Act, 1881

5%

Indian Partnership Act, 1932

5%

Limited Liability Partnership Act, 2008

Section B: Industrial Laws

15%

Factories Act, 1948

10%

Payment of Gratuity Act, 1972

Employees Provident Fund and Miscellaneous Provisions Act, 1952

Employees State Insurance Act, 1948

The Code on Wages, 2019

5%

Section C: Corporate Laws

40%

Companies Act, 2013

40%

Section D: Business Ethics

15%

Business Ethics and Emotional Intelligence

15%

Section-Wise Description

Weightage

Section A: Accounting Fundamentals

15%

Section B: Accounting for Special Transaction 

10%

Section C: Preparation of Financial Statements

20%

Section D: Partnership Accounting

20%

Section E: Lease, Branch, and Departmental Accounts etc.

15%

Lease Accounting

15%

Branch and Departmental Accounts

Insurance Claim for loss of Stock and Loss of Profit

Hire Purchase and Installment Sale Transactions

Section F: Accounting Standards

20%

Section-Wise Description

Weightage

Section A: Direct Taxation

50%

Basics of Income Tax Act

10%

Heads of Income

25%

Total Income and Tax Liability of Individuals & HUF

15%

Section B: Indirect Taxation

50%

Concept of Indirect Taxes

5%

Goods and Services Tax (GST) Laws

35%

Customs Act & Rules

10%

Section-Wise Description

Weightage

Section A: Introduction to Cost Accounting

40%

Introduction to Cost Accounting

5%

Cost Ascertainment – Elements of Cost

15%

Cost Accounting Standards

10%

Cost Book keeping

10%

Section B: Methods of Costing

30%

Methods of Costing

30%

Section C: Cost Accounting Techniques

30%

Section-Wise Description

Weightage

Section A: Operations Management

60%

Operation Management –Introduction

5%

Operations Planning

5%

Designing of Operational system and Control

5%

Production Planning and Control

20%

Productivity Management and Quality Management

5%

Project Management

15%

Economics of Maintenance and Spares Management

5%

Section B: Strategic Management

40%

Introduction

10%

Strategic Analysis and strategic Planning

10%

Formulation and Implementation of strategy

10%

Digital Strategy

10%

Section-Wise Description

Weightage

Section A: Corporate Accounting

50%

Accounting for share and debentures

10%

Preparation of the Statement of Profit and Loss and Balance Sheet

10%

Cash Flow Statement

10%

Accounts of Banking, Electricity and Insurance Companies

10%

Accounting Standards

10%

Section B: Auditing

50%

Basic Concepts of Auditing

10%

Provision Related to Audit Under Companies Act, 2013

30%

Auditing of Different types of Undertakings

10%

Section-Wise Description

Weightage

Section A: Financial Management

80%

Fundamentals of Financial Management

5%

Institutions and Instruments in Financial Markets

10%

Tools for Financial Analyses

15%

Sources of Finance and Cost of Capital

10%

Capital Budgeting

15%

Working Capital Management

15%

Financing decision of a Firm

10%

Section B: Business Data Analytics

20%

Introduction to Data Science for Business Decision-making

5%

Data Processing, Organisation, Cleaning and Validation

5%

Data Presentation: Visualization and Graphical Presentation

5%

Data Analysis and Modeling

5%

Section-Wise Description

Weightage

Section A: Introduction to Management Accounting

5%

Section B: Activity Based costing

10%

Section C: Decision Making Tools

30%

Section D: Standard Costing and Variance Analysis

15%

Section E: Forecasting, Budgeting, and Budgetary Control

15%

Sectional F: Divisional Performance Measurement

10%

Section G: Responsibility Accounting

5%

Section H: Decision Theory

10%

Groups

Papers

Group 3

Paper 13: Corporate and Economic Laws

Paper 14: Strategic Financial Management

Paper 15: Direct Tax Laws and International Taxation

Paper 16: Strategic Cost Management

Group 4

Paper 17: Cost and Management Audit

Paper 18: Corporate Financial Reporting

Paper 19: Indirect Tax laws and Practice

Paper 20:

20A: Strategic Performance Management and Business Valuation

20B: Risk Management in Banking and Insurance

20C: Entrepreneurship and Startup

Section-Wise Description

Weightage

Section A: Corporate Laws

60%

The Companies Act, 2013

40%

Insolvency and Bankruptcy Code, 2016

10%

Corporate Governance and Social Responsibility and Sustainability

10%

Section B: Economic laws and Regulations

40%

SEBI Regulations

10%

The Competition Act, 2002

5%

Foreign Exchange Management Act, 1999

5%

Laws and Regulations Related to Banking Sector

5%

Laws and Regulations related to Insurance Sector

Specific Legal Provisions Related to MSME Sector

5%

Laws and Regulations related to Cyber-Security and Data Privacy

5%

Laws and Regulations Related to Anti-Money Laundering

5%

Section-Wise Description

Weightage

Section A: Investment Decision

25%

Section B: Security Analysis and Portfolio Management

35%

Section C: Financial Risk Management

20%

Section D: International Financial Management

15%

Section E: Digital Finance

5%

Section-Wise Description

Weightage

Section A: Direct Tax Laws

60%

Section B: International Taxation

40%

Double Taxation and Avoidance Agreements

40%

Transfer Pricing

GAAR

Section-Wise Description

Weightage

Section A: Strategic Cost Management for Decision Making

60%

Introduction to Strategic Cost Management

5%

Quality Cost Management

5%

Decision-Making Techniques

25%

Activity based Management and Just in Time

10%

Evaluating Performance

15%

Section B: Quantitative Techniques in Decision Making

40%

Linear Programming

15%

Transportation

Assignment

Game theory

15%

Simulation

Network analysis – PERT, CPM

Learning Curve

Business Application of Maxima and Minima

10%

Business Forecasting Models – Time Service and Regression Analysis

Introduction to tools for data Analytics

Section-Wise Description

Weightage

Section A: Cost Audit

50%

Basics of Cost Audit

5%

Companies Rules, 2014

10%

Cost Auditor

10%

Overview of Cost Accounting Standards and GACAP

10%

Cost Auditing and Assurance Standards

Cost Audit Programme

5%

Cost Audit Documentation, Audit Process, and Execution

5%

Preparation and Filing of Cost Audit Report

5%

Section B: Management Audit

25%

Basics of Management Audit

5%

Management Reporting Issues and Analysis

5%

Management Audit in Different Functions

5%

Evaluation of Corporate Image

5%

Information Systems Security Audit

5%

Section C: Internal Control, Internal Audit, Operational Audit, and Other related issues

15%

Section D: Forensic Audit and Anti-money Laundering

10%

Section-Wise Description

Weightage

Section A: Indian Accounting Standards

25%

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

15%

Section C: Accounting for Business combination and Restructuring

20%

Section D: Consolidated Financial Statements and Separate Financial Statements

20%

Section E: Recent Developments in Financial Reporting

10%

Section F: Government Accounting in India

10%

Section-Wise Description

Weightage

Section A: Goods and Services Tax Act & Rules

70%

Section B: Customs Act and Rules

30%

Section-Wise Description

Weightage

Section A: Strategic Performance Management

50%

Section B: Business Valuation

50%

Section-Wise Description

Weightage

Section A: Risk Management in Banking

60%

Section B: Risk Management in Assurance

40%

Section-Wise Description

Weightage

Section A: Entrepreneurial and Skill Sets

15%

Section B: The Entrepreneurial Eco-System

15%

Section C: Idea to Action

15%

Section D: Value Addition

15%

Section E: Scale up

10%

Section F: Risk Management Strategies

10%

Section G: Leadership

10%

Section H: Types of new Age business

10%