It is essential to fully understand the Certified Management Accounting (CMA) Inter syllabus in order to get good marks. There are a total of 8 papers in the CMA Inter course. Passing the CMA Inter Exams on your first attempt can be challenging, but it is not impossible. If you follow proper preparation tips, you can definitely crack it.

But if you find difficulty in making a study plan then it is advisable to get guidance from a mentor because a mentor will not only guide you to make a study plan but also provide you with some strategies and so on. 

Here are some subject related preparation tips that contribute to success.

Paper 5: Business Laws and Ethics: 

This paper is divided into four sections, which are Section A Commercial Laws (30%), Section B Industrial Laws (15%), Section C Corporate Laws (40%), and Section D Business ethics (15%).

In this paper, dedicated marks are given for writing section numbers in the answer, so try to make notes of section numbers and revise them at the time of exams.

Corporate law consisting of the Companies Act 2013, students should make notes related to penalties and other important points.

After that, start preparing commercial laws, which cover different acts like sale of goods, Indian Contracts, Partnerships, and Negotiable Instrument acts. 

Practice Section B in the last, as it is lengthy and has only 15 marks. Answer writing patterns are very important in subjects like law. One should write the answers according to the below paragraphs.

In First Paragraph, mention provisions related to the question.

• In Second paragraph, link provision to the case law.
• In the third paragraph, write the conclusion. 

Paper 6: Financial Accounting: 

This paper is divided into six sections: Section A 15%, Section B 10% Section C 20% Section D 20% Section E 15% and Section F 20%.

Start your preparation from sections A, B, C, and D because they cover almost 60% of the weightage and many questions are asked from these chapters. Also, practice questions related to accounting principles, rectifications of errors, Partnership Accounting, and so on.

Section E is a scoring part, so that practice question multiple times, while Section F covers theoretical material, which is easily covered in a short time. 

Paper 7: Direct and Indirect Taxation:

In the new syllabus, both direct and indirect taxation laws are merged into one subject, and both direct and indirect taxes have an equal weight of 50% for each part.

It is advisable to use the material which is provided by the institute to get in-depth knowledge of the topics. 

Amendments are a necessary part of preparation. Also, students should learn section numbers of the income tax and GST acts for answer clarity.

In addition to this, practice questions related to Income Tax computation because the majority of questions can be interlinked and retention can be increased.

Paper 8: Cost Accounting

Section A (40%), Section B (30%), and Section C (30%).

Make notes related to formulas so that you can revise at the time of exams. Also, give more time to marginal costing, Standard Costing, budget and Budgetary control because the majority of the practical questions are asked related to these topics.

It is advisable to start with the theory part and grasp the major concepts explained, and then practice practical questions. Practice on a regular basis to get flying colours in that subject.

Give more attention to Methods of Costing because it contains 30 marks. It is necessary to memorize the correct name and number of the cost accounting standard, as it increases your chances to get more marks in the exam.

Paper 9: Operational Management and Strategic Management: 

In this subject, operational management contains 60% of the marks while strategic management contains 40% of the marks.

Strategic management is theory based and questions are asked related to SWOT analysis, Porter’s Five Forces Model, Pestel framework, etc.

Practice practical questions related to Job Allocation – Assignment Technique, Transportation Model, Simulation, Project Management, PERT and CPM, etc.

Paper 10: Corporate Accounting and Auditing

Practical questions are asked from corporate accounting, while theory based questions are asked from auditing. The student should practice the theory part first, which is auditing, because it has only three chapters and contains 50% of the weight,

Topics like cash flow statements, accounts of banking, electricity, and insurance companies need more practice, as questions related to these topics have a 20% weightage of marks.

Accounting entries should be backed by proper narration, and the format of Schedule III should be practiced daily.

Paper 11: Financial Management and Business Data Analytics: 

In this, financial management contains 80% of weightage while Business data analytics contains 20% of weightage. 

Financial management is considered to be high scoring so practice questions related to cost of capital and capital budgeting as they considered a weightage of 25 marks.

Business data analytics is related to data science for business decision making and related topics.

Paper 12: Management Accounting: 

Students should practice practical questions related to standard costing, budgetary control, and decision making tools and then start with theory questions along with solving practical questions.

Conclusion:

Even though clearing the CMA Inter exam on the first attempt can be difficult, always keep in mind that success is only possible with appropriate strategy, dedication and hard work. Always Remember, “Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come."

Along with preparation, it is necessary to give mock test papers so that you can know your performance simultaneously. So, choose the best test series for the CMA Inter exam that serves good results.

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