Revised ICMAB Syllabus in 2015

Code No.

Level/Subjects
Knowledge Level

IE01

Principles of Accounting

IE02

Principles of Business and Economics

IE03

Business Communications
Business Level

GE01

Fundamentals of Financial Accounting

GE02

Fundamentals of Management Accounting

GE03

Fundamentals of Business Mathematics

GE04

Fundamentals of Business Economics

GE05

Fundamentals of Ethics, Corporate Governance & Business Law

Operational Level

R1

Legal Environment of Business

E1

Enterprise Operations

p1

Performance Operations

F1

Financial Operations
Management Level

R2

Taxation

E2

Enterprise Management

P2

Performance Management

F2

Financial Management
Strategic Level

R3

Financial, Management and Cost Audit

E3

Enterprise Strategy

P3

Performance Strategy

F3

Financial Strategy
Total Marks
Internship
Grand Total Marks

Why CMA?
CMAs (Cost and Management Accountants) are forward looking, unlike traditional accountants who focus on
reporting past performance.
A CMA's role is geared towards assessing business possibilities, grasping opportunities and shaping the future
of organizations. They will have the strategic insight to assess risk and make vital business decisions based on a
robust understanding of the business environment.Cost and Management Accountants are typically qualified to
engage in a wide variety of business CMAs (Cost and Management Accountants) are forward looking, unlike
traditional accountants who focus on reporting past performance.
Cost and Management Accountants are typically qualified to engage in a wide variety of business - related
activities such as:
Working across the business interpreting financial data for non-financial manager
Explaining the financial consequences of management decisions and suggesting possible
courses of action
Advising managers on the financial and economic implications of project management
Making strategic decisions and formulating business strategies to create wealth and
shareholder value
Monitoring spending and the effectiveness of financial control
Managing risk and business assurance
Cost determination and financial control
Evaluating existing financial information systems and suggesting improvements thereof
Conducting internal business audits and preparing periodic financial statements for
managers
Explaining the impact of the competitive landscape.
CMAs can also be self-employed as practising Cost and Management Accountants, Management Consultant,
Cost Auditor, Tax Adviser, etc.
CMAs combine a high level of financial and management expertise with excellent business acumen and
decision-making skills. This makes them essential to every business in all sectors covering Industry, Commerce,
Government, Semi Government, Autonomous Bodies, Public Sector and not-for-profit Organizations.

Services of CMAs
Equipped with various methods and techniques, the Cost & Management Accountants can provide the following
services
Collecting, collating, screening, interpreting and condensing data relating to techno-human business activities, to
enable Non-Financial Executives to arrive at the right decision or to select the right courses of action at the right
time.
Costing of products and services.
Designing and implementing effective management information and control systems.
Planning and control of business operation through costing systems and various techniques.
Inventory control incorporating mathematical models.
Cost reduction in connection with modern management tools like Operation Research, Value Engineering, etc.
Investment analysis and preparation of Feasibility/Project reports; its appraisal and evaluation.
Information management.
Project management-planning control and accounting.
Cost Audit of business transactions.
Performance Evaluation.
Assistance in appropriate legal matters.
Diagnosis of industrial sickness and remedial measures.
Planning and monitoring of industrial action.
Financial analysis and projection for New and B.M.R.E. Projects.

Loan application and negotiation.

Valuation of shares and properties.
Pricing.
Working capital management.