CMA, CMA Foundation

CMA FOUNDATION COURSE EXAMINATION TIME TABLE & PROGRAMME JUNE 2023

As released by THE INSTITUTE OF COST ACCOUNTANTS OF INDIA

(STATUTORY BODY UNDER AN ACT OF PARLIAMENT)

CMA Foundation is the qualifying entrance test for registration to the Cost Accountancy Course. It’s a national level examination. The Institute has decided to conduct June 2023 Foundation Examination through offline OMR centre based.

Syllabus – Foundation Course Curriculum

Foundation Course Examination Syllabus-2016Foundation Course Examination Syllabus-2022
Paper-1_Fundamentals of Economics and ManagementPaper-2_Fundamentals of AccountingPaper-3_Fundamentals of Laws and EthicsPaper-4_Fundamentals of Business Mathematics and StatisticsPaper 1: Fundamentals Of Business Laws And Business Communication (Fblc)Paper 2: Fundamentals Of Financial And Cost Accounting (Ffca)Paper 3: Fundamentals Of Business Mathematics And Statistics (Fbms)Paper 4: Fundamentals Of Business Economics And Management (Fbem)

Instructions

1. Application Forms for Foundation Examination has to be filled up through online and fees will be accepted through online mode (including Payfee Module of IDBI Bank).

2. STUDENTS FROM OVERSEAS HAVE TO APPLY OFFLINE AND SEND DD ALONG WITH THE FORM.

3. (a) Students can login to the website www.icmai.in and apply online through payment gateway by using Credit/Debit card or Net banking.

(b) Students can also pay their requisite fee through pay-fee module of IDBI Bank.

4. Last date for receipt of Examination Application Forms is 2nd May, 2023.

5. The Foundation Examination will be conducted in M.C.Q Mode through offline OMR based from Centre.

6. Each paper will carry 100 marks 50 Multiple Choice Questions (Each Question will carry 2 Marks). Each session will have a total of 100 Multiple Choice Questions of 200 marks.

7. All Candidates/students are to appear in the Foundation examination through offline OMR centre based.

8. A candidate/student who is completing all conditions for appearing in the examination as per Regulations will only be allowed to appear for the examination.

9. There is no negative marking.

10. Detailed instructions will be provided along with Admit Card.

11. Examination Centres: 

Adipur-Kachchh (Gujarat), Agartala, Agra, Ahmedabad, Akurdi, Allahabad, Angul Talcher, Asansol, Aurangabad,

Bangalore, Bankura, Baroda, Berhampur – Ganjam (Odisha), Bharuch Ankleshwar, Bhilai, Bhilwara, Bhopal, Bewar City(Rajasthan),

Bhubaneswar, Bilaspur, Bikaner (Rajasthan), Bokaro, Calicut, Chandigarh, Chennai, Coimbatore, Cuttack, Dindigul, Dehradun, Delhi,

Dhanbad, Duliajan (Assam), Durgapur, Ernakulam, Erode, Faridabad, Gaya, Ghaziabad, Guntur, Gurgaon, Guwahati, Haridwar,

Hazaribagh, Hosur, Howrah, Hyderabad, Indore, Jaipur, Jabalpur, Jalandhar, Jammu, Jamshedpur, Jodhpur, Kalyan, Kannur, Kanpur,

Kanchipuram, Kolhapur, Kolkata, Kollam, Kota, Kottakkal (Malappuram), Kottayam, Lucknow, Ludhiana, Madurai, Mangalore,

Meerut, Mumbai, Mysore, Nagpur, Naihati, Nasik, Nellore, Neyveli, Noida, Palakkad, Palghar, Panaji (Goa), Patiala, Patna, Pondicherry,

Port Blair, Pune, Raipur, Rajahmundry, Ranchi, Rourkela, Salem, Sambalpur, Serampore, Shillong, Shimla, Siliguri, Solapur, Srinagar,

Surat, Thrissur, Tiruchirapalli, Tirunelveli, Tirupati, Trivandrum, Udaipur, Vapi, Vashi, Vellore, Vijayawada, Vindhyanagar,

Visakhapatnam and Overseas Centres at Bahrain, Dubai and Muscat.

12. Probable date of publication of result: To be announced in due course.

* The Candidates/students are advised to keep regularly in touch with the website of the Institute for further notifications and announcements relating to

Foundation Examination of June 2023 and in case of any query or clarification can e-mail us at- exam.helpdesk@icmai.in

(Multiple Choice Questions through offline OMR based from Centre)

Day & Date
Sunday, 2nd July, 2023
Foundation Course Examination Syllabus-2016Foundation Course Examination Syllabus-2022
Paper – 1 & 2 (200 Marks)Time 10.00 A.M. to 12.00 NoonPaper – 3 & 4 (200 Marks)Time 2.00 P.M. to 4.00 P.M.Paper – 1 & 2 (200 Marks)Time 10.00 A.M. to 12.00 NoonPaper – 3 & 4 (200 Marks)Time 2.00 P.M. to 4.00 P.M.
Paper – 1 : Fundamentals of Economics & Management (100 Marks 50 Multiple Choice Questions) 

Paper – 2 : Fundamentals of Accounting (100 Marks 50 Multiple Choice Questions)
Paper – 3 : Fundamentals of Laws & Ethics (100 Marks 50 Multiple Choice Questions) 


Paper – 4 : Fundamentals of Business Mathematics & Statistics (100 Marks 50 Multiple Choice Questions)
Paper – 1 : Fundamentals of Business Laws and Business Communication (100 Marks 50 Multiple Choice Questions) 
Paper – 2 : Fundamentals of Financial and Cost Accounting (100 Marks 50 Multiple Choice Questions)
Paper – 3 : Fundamentals of Business Mathematics and Statistics (100 Marks 50 Multiple Choice Questions) 
Paper – 4 : Fundamentals of Business Economics and Management (100 Marks 50 Multiple Choice Questions)

Examination fees

  • Inland Candidate Rs. 1200/-
  • Overseas Candidate US $ 60

Mode & Guidelines

  • The Institute has introduced the MCQ-OMR sheet Centre based offline Foundation examination-June 2023 term.
  • Each paper will carry 100 marks with 50 Multiple Choice Questions
  • (Each Question will carry 2 Marks).
  • Follow the Syllabus and the specific chapter wise weightage given in the Syllabus 2016 and Syllabus 2022.
  • The Foundation Examination will be single Day examination from Centres as notified in the Time Table.
  • The Examination will be divided in to two sessions that are Session Ii.e. 10:00 to 12:00 and Session II-i.e. 02:00 to 04:00
  • Session I will be of 200 marks consisting of Paper I (50 questions *2 marks=100 Marks) and Paper II (50 questions *2 marks=100 Marks).
  • Session II- Paper III (50 questions *2 marks=100 Marks) and paper IV (50 questions *2 marks=100 Marks).
  • Students are allowed to take only Question Paper.
  • No one will be allowed to leave Examination hall before completion of Examination.
  • There is No negative marking in the Foundation Examination.
  • The Invigilator will collect only bubbled OMR in each session.
  • Detailed instructions will be provided along with the Admit Card.
  • Please follow Foundation Examination Time Table for other details as notified.
  • The Candidates are advised to keep regularly in touch with the website of the Institute for further notifications and announcements relating to
  • Foundation Examination of June 2023 and in case of any query or clarification can e-mail us at- exam.helpdesk@icmai.in

Understanding Syllabus of CMA Foundation 2022

The Institute has prescribed detailed syllabus w.r.t. each paper and content which will be part of the test. Following are the topics and subjects which are required to be part of the test. Students are expected to understand and have a proper grip on the topics. A proper SWOT analysis should be done by the students w.r.t. topics. The focus should be more on the topics/ subjects which seems tough or difficult for them.

FUNDAMENTALS OF BUSINESS LAWS ANDBUSINESS COMMUNICATION (FBLC)
SECTION A: FUNDAMENTALS OF BUSINESS LAWSIntroduction1.1 Sources of Law1.2 Legislative Process in India1.3 Legal Methods and Court System in India1.4 Primary and Subordinate Legislation
Indian Contracts Act, 18722.1 Essential Elements of a Contract, Offer and Acceptance2.2 Void and Voidable Agreements, No Consideration No Contract2.3 Consideration, Legality of Object and Consideration2.4 Capacity of Parties, Free Consent2.5 Contingent Contracts2.6 Performance of Contracts2.7 Meaning of Indemnity, Guarantee, Pledge, Agent2.8 E-Contracts and E-Signature – Meanings and Requirements2.9 Discharge of Contracts2.10 Breach of Contract and Remedies for Breach of Contract
Sale of Goods Act, 19303.1. Definition3.2. Transfer of Ownership3.3. Essential Conditions of a Contract of Sale3.4. Conditions and Warranties3.5. Performance of the Contract of Sale3.6. Rights of Unpaid Seller
Negotiable Instruments Act, 18814.1. Characteristics of Negotiable Instruments4.2. Definitions of Promissory Note, Bill of Exchange and Cheque4.3. Difference between Promissory Note, Bill of Exchange and Cheque4.4. Crossing – Meaning, Definition and Types of Crossing4.5. Dishonour of Cheques (Section 138)
SECTION B: BUSINESS COMMUNICATIONBusiness Communication5.1 Introduction to Business Communication5.2 Features of Effective Business Communication5.3 Process of Communication5.4 Types of Business Communication5.4.1 Formal and Informal Communication5.4.2 Written, Verbal and Non-verbal Communication5.4.3 Vertical, Horizontal and Diagonal Communication5.4.4 Upward and Downward Communication5.5 Internet-based Business Communication5.6 Do’s and Don’ts of Communication through Social Media5.7 Writing and Drafting for Business Audiences5.7.1 Letter and Memorandum5.7.2 Report – Formal and Informal5.7.3 Business Proposal5.7.4 Enhancement of Writing Skills5.8 Intercultural and International Business Communication5.9 Barriers to Business Communication5.10 Legal Aspects of Business Communication5.11 Use of Graphics and References for Business Communication
FUNDAMENTALS OF FINANCIAL ANDCOST ACCOUNTING (FFCA)
SECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTINGAccounting Fundamentals1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional andRegulatory) and Forms of Organization1.2 Accounting Principles, Concepts and Conventions1.3 Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and RevenueReceipts1.4 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books andFinalisation of Accounts1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and RectificationEntries), Ledger1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement1.7 Trial Balance1.8 Adjustment Entries and Rectification of Errors 1.9 Depreciation (Straight Line and Diminishing Balance Methods only) 1.10 Accounting Treatment of Bad Debts and Provision for Doubtful Debts

Accounting for Special Transactions2.1 Consignment2.2 Joint Venture2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency)
Preparation of Final Accounts3.1 Preparation of Financial Statements of Sole Proprietorship3.1.1 Income Statement, Balance Sheet3.2 Preparation of Financial Statements of a Not-for-Profit Organisation3.2.1 Preparation of Receipts and Payments Account3.2.2 Preparation of Income and Expenditure Account3.2.3 Preparation of Balance Sheet

SECTION B: FUNDAMENTALS OF COST ACCOUNTINGFundamentals of Cost Accounting4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting4.2 Application of Cost Accounting for Business Decisions4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers4.4 Classification of Costs (with reference to Cost Accounting Standard 1)4.5 Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)
FUNDAMENTALS OF BUSINESS MATHEMATICS ANDSTATISTICS (FBMS)
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS1. Arithmetic1.1 Ratios, Variations and Proportions1.2 Time Value of Money and Annuity – Simple and Compound Interest1.3 Arithmetic Progression and Geometric Progression1.4 Time and Distance
2. Algebra2.1 Set Theory, including Venn Diagram2.2 Indices and Logarithms (Basic Concepts)2.3 Permutation and Combinations (Basic Concepts)2.4 Quadratic Equations (Basic Concepts)
3. Calculus – Application in Business3.1 Concept of Calculus and its Application in Business3.2 Revenue and Cost Function3.3 Optimisation Techniques (Basic Concepts)

SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS 4. Statistical Representation of Data4.1 Diagrammatic Representation of Data4.2 Frequency Distribution4.3 Graphical Representation of Frequency Distribution – Histogram, Frequency Polygon Curve,Ogive, Pie-chart
5. Measures of Central Tendency and Dispersion5.1 Mean, Median, Mode, Mean Deviation5.2 Range, Quartiles and Quartile Deviation5.3 Standard Deviation5.4 Co-efficient of Variation5.5 Karl Pearson and Bowley’s Co-efficient of 
Skewness6. Correlation and Regression6.1 Scatter Diagram6.2 Karl Pearson’s Co-efficient of Correlation6.3 Regression Analysis
7. Probability7.1 Concepts and Terminologies7.2 Primary applications of Probability Theorems
8. Index Numbers and Time Series8.1 Uses of Index Numbers, Methods of Construction of Index Number8.2 Components of Time Series and Calculation of Trend by Moving Average Method

Understanding Syllabus of CMA Foundation 2016

FUNDAMENTALS OF BUSINESS ECONOMICS ANDMANAGEMENT (FBEM)
SECTION A: FUNDAMENTALS OF BUSINESS ECONOMICS1. Basic Concepts1.1 The Fundamentals of Economics1.2 Utility, Wealth, Production1.3 Theory of Demand (Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand- Price, Income and Cross Elasticity, Theory of Consumer Behaviour, Demand Forecasting) andSupply (Meaning, Determinants, Law of Supply and Elasticity of Supply), Equilibrium1.4 Theory of Production (Meaning, Factors, Laws of Production – Law of Variable Proportion, Lawsof Returns to Scale)1.5 Cost of Production (Concept of Costs, Short-run and Long-run Costs, Average and Marginal Costs,Total, Fixed and Variable Costs)1.6 Means of Production

2. Forms of Market2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Duopoly,Oligopoly, Monopoly, Monopolistic Competition 2.2 Price Discrimination

3. Money and Banking3.1 Money – Types, Features and Functions3.2 Banking – Definition, Functions, Utility, Principles3.3 Commercial Banks, Central Bank3.4 Measures of Credit Control and Money Market

4. Economic and Business Environment4.1 PESTEL (Political, Economic, Societal, Technological and Legal) Analysis4.2 Emerging Dimensions of VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear of Unknown and Unprecedentedness)
SECTION B – FUNDAMENTALS OF MANAGEMENT5. Fundamentals of Management5.1 Introduction to Management5.2 Stewardship Theory and Agency Theory of Management5.3 Planning, Organizing, Staffing and Leading5.4 Communication, Co-ordination, Collaboration, Monitoring and Control5.5 Organisation Structure, Responsibility, Accountability and Delegation of Authority5.6 Leadership and Motivation – Concepts and Theories5.7 Decision-making – Types and Process
FUNDAMENTALS OF ACCOUNTING (FOA)
Section A : Fundamentals of Financial Accounting [80 marks]1. Accounting Fundamentals(a) Accounting Principles, Concepts and Conventions(b) Capital and Revenue transactions – capital and revenue expenditures, capital and revenue receipts(c) Double entry system, Books of prime entry, Subsidiary Books, Cash Book(d) Journal, Ledger, Trial Balance(e) Depreciation – Methods (Straight Line and Diminishing Balance methods only)(f) Rectication of Errors(g) Opening entries, Transfer entries, Adjustment entries, Closing entries(h) Bank Reconciliation Statements2. Accounting for Special Transactions(a) Bills of Exchange (excluding accommodation bill, insolvency)(b) Consignment (cost price, invoice price, commission & valuation of stock)(c) Joint Venture3. Preparation of Final Accounts (a) Of a Prot making concern (for sole proprietorship concern only)(i) Accounting treatment of bad debts, reserve for bad and doubtful debts, provision for discount ondebtors and provision for discount on creditors.(ii) Preparation of Trading Account, Prot & Loss Account and Balance Sheet. (b) Of a Not-for- Prot making concern(i) Preparation of Receipts and Payments Account(ii) Preparation of Income and Expenditure Account
SECTION B: Fundamentals of Cost Accounting [20 MARKS]Fundamentals of Cost Accounting(a) Meaning, Denition, Signicance of Cost Accounting, its relationship with Financial Accounting & Management Accounting.(b) Classication of Costs(c) Format of Cost Sheet
FUNDAMENTALS OF LAWS AND ETHICS (FLE)
SECTION A: FUNDAMENTALS OF COMMERCIAL LAWS [70 MARKS]1. Indian Contract Act, 1872(a) Essential elements of a contract, offer and acceptance(b) Void and voidable agreements(c) Consideration, legality of object and consideration(d) Capacity of Parties, free consent(e) Quasi Contracts, Contingent Contracts(f) Performance of Contracts(g) Discharge of Contracts(h) Breach of Contract and Remedies for Breach of Contract2. 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 Sales3. Negotiable Instruments Act,1881(a) Negotiable Instruments –Characteristics of Negotiable Instruments (b) Definitions of Promissory Note, Bill of Exchange and Cheque(c) Differences between Promissory Note, Bill of exchange and Cheque(d) Crossing – Meaning, Definition and Type of Crossing 
SECTION B: FUNDAMENTALS OF ETHICS [30 MARKS]Ethics and Business(a) Ethics – Meaning, Importance(b) The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honestyand Leadership(c) The relationship between Ethics and Law(d) Ethics in Business
FUNDAMENTALS OF BUSINESS MATHEMATICS AND STATISTICS (FBMS)
SECTION A: FUNDAMENTALS OF BUSINESS MATHEMATICS [40 MARKS]]1. Arithmetic(a) Ratios, Variations and Proportions(b) Simple and Compound interest(c) Arithmetic Progression and Geometric Progression2. Algebra(a) Set Theory(b) Indices and Logarithms (basic concepts)(c) Permutation and Combinations (basic concepts)(d) Quadratic Equations (basic concepts)
SECTION B: FUNDAMENTALS OF BUSINESS STATISTICS [60 MARKS]3. Statistical Representation of Data(a) Diagrammatic representation of data(b) Frequency distribution(c) Graphical representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart4. Measures of Central Tendency and Dispersion(a) Mean, Median, Mode, Mean Deviation(b) Range, Quartiles and Quartile Deviation(c) Standard Deviation (d) Co-efficient of Variation (e) Karl Pearson and Bowley’s Coefficient of Skewness5. Correlation and Regression(a) Scatter diagram (b) Karl Pearson’s Coefficient of Correlation (c) Regression lines, Regression equations, Regression coefficients6. Probability(a) Independent and dependent events; Mutually exclusive events(b) Total and Compound Probability; Baye’s theorem; Mathematical Expectation