The official website of the Institute of Cost Accountants of India (ICMAI) provides the comprehensive CMA Foundation Syllabus 2023 for the CMA Foundation exam. Candidates who have registered for the exam are advised to refer to the official syllabus as a starting point for their preparation. The ICMAI has recently released the CMA Foundation syllabus 2023, which will be effective from the June 2023 term. However, the CMA Foundation exam under the 2016 Syllabus will continue until the December 2023 term. Candidates who wish to convert from the old syllabus to the new syllabus will be required to pay a conversion fee of Rs. 250. The CMA Foundation Syllabus 2023 outlines the papers covered, along with the topics and subtopics included in each. The CMA Foundation exam is conducted twice a year by ICMAI, once in June and again in December, according to the specified exam dates.

Don’t Miss : CMA Foundation Previous Question Papers

The article provides a comprehensive overview of the CMA Foundation Syllabus for both 2023 and 2016. It covers essential details regarding the syllabus, topics covered, and additional information related to the CMA Foundation exam. For a deeper understanding of the syllabus, its contents, and the topics included, it is recommended to read the complete article.

CMA Foundation New Syllabus 2023

Paper No.	Paper Name	Section	Weight
1.	Fundamentals of Business Laws and Business Communication	Section A: Fundamentals of Business Laws	80%
		Section B: Business Communication	20%
2.	Fundamentals of Financial and Cost Accounting	Section A: Fundamentals of Financial Accounting	70%
		Section B: Fundamentals of Cost Accounting	30%
3.	Fundamentals of Business Mathematics and Statistics	Section A: Fundamentals of Business Mathematics	40%
		Section B: Fundamentals of Business Statistics	60%
4.	Fundamentals of Business Economics and Management	Section A: Fundamentals of Business Economics	70%
		Section B: Fundamentals of Management	30%

Paper 1 – Fundamentals Of Business Laws And Business Communication – CMA Foundation Syllabus 2023

Module no.	Module Description	Weight
	Section A: Fundamentals of Business Laws	80%
	Introduction	10%
	Indian Contracts Act, 1872	30%
	Sale of Goods Act, 1930	20%
	Negotiable Instruments Act,1881	20%
	Section B: Business Communication	20%
	Business Communication	20%

SECTION A: Fundamentals Of Business Laws

1. Introduction

1.1 Sources of Law

1.2 Legislative Process in India

1.3 Legal Methods and Court System in India

1.4 Primary and Subordinate Legislation

2. Indian Contracts Act, 1872

2.1 Essential Elements of a Contract, Types of Contract, Offer and Acceptance

2.2 Void and Voidable Agreements, No Consideration No Contract

2.3 Consideration, Legality of Object and Consideration

2.4 Capacity of Parties, Free Consent

2.5 Quasi and Contingent Contracts

2.6 Performance of Contracts

2.7 Meaning of Indemnity, Guarantee, Pledge, Agent

2.8 E-Contracts and E-Signature – Meanings and Requirements

2.9 Discharge of Contracts

2.10 Breach of Contract and Remedies for Breach of Contract

3. Sale of Goods Act, 1930

3.1. Definition

3.2. Transfer of Ownership

3.3. Essential Conditions of a Contract of Sale

3.4. Conditions and Warranties

3.5. Performance of the Contract of Sale

3.6. Rights of Unpaid Seller

4. Negotiable Instruments Act, 1881

4.1. Characteristics of Negotiable Instruments

4.2. Definitions of Promissory Note, Bill of Exchange and Cheque

4.3. Difference between Promissory Note, Bill of Exchange and Cheque

4.4. Crossing – Meaning, Definition and Types of Crossing

4.5. Dishonour of Cheques (Section 138)

SECTION B: BUSINESS COMMUNICATION

5. Business Communication

5.1 Introduction to Business Communication

5.2 Features of Effective Business Communication

5.3 Process of Communication

5.4 Types of Business Communication

5.4.1 Formal and Informal Communication

5.4.2 Verbal, Non-verbal and Written Communication

5.4.3 Vertical, Horizontal and Diagonal Communication

5.4.4 Upward and Downward Communication

5.4.5 Lateral Communication

5.5 Internet Based Business Communication

5.6 Do’s and Don’ts of Communication through Social Media

5.7 Writing and Drafting for Business Audiences

5.7.1 Letter and Memorandum

5.7.2 Report – Formal and Informal

5.7.3 Business Proposal

5.7.4 Enhancement of Writing Skills

5.8 Intercultural and International Business Communication

5.9 Barriers to Business Communication

5.10 Legal Aspects of Business Communication

5.11 Use of Graphics and References for Business Communication

Paper 2 – Fundamentals Of Financial And Cost Accounting – CMA Foundation Syllabus 2023

Module no.	Module Description	Weight
	Section A: Fundamentals of Financial Accounting	70%
1.	Accounting Fundamentals	30%
2.	Accounting for Special Transactions	15%
3.	Preparation of Final Accounts	25%
4.	Section B: Fundamentals of Cost Accounting	30%
	Fundamentals of Cost Accounting	30%

SECTION A: Fundamentals Of Financial Accounting

1. Accounting Fundamentals

1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and

Regulatory) and Forms of Organisation

1.2 Accounting Principles, Concepts and Conventions

1.3 Capital and Revenue Transactions – Capital and Revenue Expenditures, Capital and Revenue

Receipts

1.4 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –

Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and

Finalisation of Accounts

1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and Rectification

Entries), Ledger

1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement

1.7 Trial Balance

1.8 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

2. Accounting for Special Transactions

2.1 Consignment

2.2 Joint Venture

2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency)

3. Preparation of Final Accounts

3.1 Preparation of Financial Statements of Sole Proprietorship

3.1.1 Income Statement, Balance Sheet

3.2 Preparation of Financial Statements of a Not-for-Profit Organisation

3.2.1 Preparation of Receipts and Payments Account

3.2.2 Preparation of Income and Expenditure Account

3.2.3 Preparation of Balance Sheet

Section B: Fundamentals Of Cost Accounting

4. Fundamentals of Cost Accounting

4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting

4.2 Application of Cost Accounting for Business Decisions

4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers

4.4 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)

Paper 3 – Fundamentals Of Business Mathematics And Statistics – CMA Foundation Syllabus 2023

Module no.	Module Description	Weight
	Section A: Fundamentals of Business Mathematics	40%
1.	Arithmetic	15%
2.	Algebra	20%
3.	Calculus – Application in Business	5%
4.	Section B: Fundamentals of Business Statistics	60%
	Statistical Representation of Data	5%
5.	Measures of Central Tendency and Dispersion	15%
6.	Correlation and Regression	15%
7.	Probability	15%
8.	Index Numbers and Time Series	10%

Section A: Fundamentals Of Business Mathematics

1. Arithmetic

1.1 Ratios, Variations and Proportions

1.2 Time Value of Money and Annuity – Simple and Compound Interest

1.3 Arithmetic Progression and Geometric Progression

1.4 Time and Distance

2. Algebra

2.1 Set Theory, including Venn Diagram

2.2 Indices and Logarithms (Basic Concepts)

2.3 Permutation and Combinations (Basic Concepts)

2.4 Quadratic Equations (Basic Concepts)

3. Calculus – Application in Business

3.1 Concept of Calculus and its Application in Business

3.2 Revenue and Cost Function

3.3 Optimisation Techniques (Basic Concepts)

Section B: Fundamentals Of Business Statistics

4. Statistical Representation of Data

4.1 Diagrammatic Representation of Data

4.2 Frequency Distribution

4.3 Graphical Representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart

5. Measures of Central Tendency and Dispersion

5.1 Mean, Median, Mode, Mean Deviation

5.2 Range, Quartiles and Quartile Deviation

5.3 Standard Deviation

5.4 Co-efficient of Variation

5.5 Karl Pearson and Bowley’s Co-efficient of Skewness

6. Correlation and Regression

6.1 Scatter Diagram

6.2 Karl Pearson’s Co-efficient of Correlation

6.3 Regression Analysis

7. Probability

7.1 Concepts and Terminologies

7.2 Primary applications of Probability Theorems

8. Index Numbers and Time Series

8.1 Uses of Index Numbers, Methods of Construction of Index Number

8.2 Components of Time Series and Calculation of Trend by Moving Average Method

Paper 4 – Fundamentals Of Business Economics And Management – CMA Foundation Syllabus 2023

Module no.	Module Description	Weight
	Section A: Fundamentals of Business Economics	70%
1.	Basic Concepts	15%
2.	Forms of Market	20%
3.	Money and Banking	20%
4.	Economic and Business Environment	15%
4.	Section B: Fundamentals of Management	30%
	Fundamentals of Management	30%

Section A: Fundamentals Of Business Economics

1. Basic Concepts

1.1 The Fundamentals of Economics

1.2 Utility, Wealth, Production

1.3 Theory of Demand (Meaning, Determinants of Demand, Law of Demand, Elasticity of Demand

– Price, Income and Cross Elasticity, Theory of Consumer Behaviour, Demand Forecasting) and Supply (Meaning, Determinants, Law of Supply and Elasticity of Supply), Equilibrium

1.4 Theory of Production (Meaning, Factors, Laws of Production – Law of Variable Proportion, Laws of 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 Market

2.1 Pricing of Products and Services in Various Forms of Markets – Perfect Competition, Duopoly,

Oligopoly, Monopoly, Monopolistic Competition

2.2 Price Discrimination

3. Money and Banking

3.1 Money – Types, Features and Functions

3.2 Banking – Definition, Functions, Utility, Principles

3.3 Commercial Banks, Central Bank

3.4 Measures of Credit Control and Money Market

4. Economic and Business Environment

4.1 PESTEL (Political, Economic, Societal, Technological, Environmental and Legal) Analysis

4.2 Emerging Dimensions of VUCAFU (Volatility, Uncertainty, Complexity, Ambiguity, Fear of Unknown and Unprecedentedness)

Section B – Fundamentals Of Management

5. Fundamentals of Management

5.1 Introduction to Management

5.2 Stewardship Theory and Agency Theory of Management

5.3 Planning, Organising, Staffing and Leading

5.4 Communication, Co-ordination, Collaboration, Monitoring and Control

5.5 Organisation Structure, Responsibility, Accountability and Delegation of Authority

5.6 Leadership and Motivation – Concepts and Theories

5.7 Decision-making – Types and Process

CMA Foundation Syllabus 2023 – Download

CMA Foundation Old Syllabus 2023

The CMA Foundation exam, following the 2016 syllabus, will be in effect until the December 2023 term. The exam pattern for the CMA Foundation requires candidates to study four papers, each covering a distinct subject area. The following table provides a list of the papers included in the CMA Foundation exam, as determined by ICMAI:

Papers	Subjects
Paper 1	Fundamentals of Economics and Management
Paper 2	Fundamentals of Accounting
Paper 3	Fundamentals of Laws and Ethics
Paper 4	Fundamentals of Business Mathematics & Statistics

Paper 1: Fundamentals of Economics and Management