CMA Foundation Syllabus 2022: Get Details

CMA Foundation Syllabus 2022: The Institute of Cost Accountants of India (ICMAI) has issued the syllabus of the CMA foundation exam. Candidates preparing for the exam of the CMA foundation must refer to the syllabus, as the exam question paper will be as per the syllabus issued by ICMAI for the CMA foundation level exam. The CMA Foundation is the first level of the CMA course conducted by ICMAI. So, some subjects are based on the senior secondary level examination syllabus.

There are a total of four papers as per the prescribed syllabus of CMA foundation 2022, fundamentals of Economics and Management, fundamentals of Accounting, Fundamentals of Commercial Laws and Ethics, and Fundamentals of Business Mathematics and Statistics. Each paper is divided into parts of related subjects; the marks weightage and division are also given below in this article.

CMA Foundation Syllabus 2022 – Papers

Candidates can check the overview of all the papers of the CMA Foundation syllabus 2022:

CMA Foundation Subject-wise topics

The subject-wise syllabus topics of the CMA foundation 2022 are as given below: 

Paper 1: Fundamentals of Economics and Management (FEM)

The topics covered under the syllabus of Fundamentals of Economics and Management as per the CMA foundation syllabus 2022 are as given below: 

Section A: Fundamentals of Economics 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of Fundamentals of Economics are as given below: 

(1) Basic Concepts of Economics

• Definition and Scope of Economics
• Few Fundamental Concepts 

(2) Theory of Demand and Supply

• Demand
• Supply 
• Equilibrium

(3) Theory of Production

• Meaning of Production
• Factors of Production and its Classification
• Production Functions 
• Law of Variable Proportion
• Law of Return to Scale 

(4) Theory of Cost

• Meaning of Cost 
• Cost Function 
• Cost Curves 
• Economies of Scale 

(5) Market

• Meaning of Market 
• Perfect Competition 
• Imperfect Competition 

(6) Money

• Definition of Money 
• Functions of Money 
• Components of Money Supply 
• Quantity Theory of Money 

(7) Bank

• Meaning of Banking 
• Commercial Banks 
• Central Bank 
• Financial Institution 

(8) Money Market

• Meaning of Money Market
• Structure and Functions of the Indian Money Market

Section B: Fundamentals of Management 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of Fundamentals of Management are as given below:

(1) Management Process

• Introduction 
• Definition of Management 
• Management – Science, Art, Profession 
• Management Principles 
• Management Process 
• Planning 
• Organizing 
• Staffing 
• Leading 
• Control 
• Communication 
• Co-ordination 
• Directing 

(2) Management – Concepts

• Concept of Authority 
• Concept of Power 
• Delegation of Authority 
• Concept of Responsibility 
• Authority, Responsibility and Accountability 
• Leadership and Motivation

(3) Leadership 

• Motivation 

(4) Decision Making

• Concept and Definition 
• Types of Decision 
• Decision–Making Process 
• Techniques of Decision Making

Paper 2: Fundamentals of Accounting (FOA)

The topics covered under the syllabus of Fundamentals of Accounting (FOA) as per the CMA foundation syllabus 2022 are as given below:

Section A: Fundamentals of Financial accounting 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of Fundamentals of Financial accounting are as given below:

(1) Accounting Basics

• Accounting Principles, Concepts and Conventions 
• Capital and Revenue transactions – capital and revenue expenditures, capital and revenue receipts 
• The double-entry system, Books of prime entry, Subsidiary Books, Cash Book, Journal, Ledger, Trial Balance Depreciation – Methods (Straight Line and Diminishing Balance methods) 
• Rectication of Errors 
• Opening entries, Transfer entries, Adjustment entries, Closing entries 
• Bank Reconciliation Statements 

(2) Accounting for Special Transactions

• Bills of Exchange (excluding accommodation bill, insolvency) 
• Consignment (cost price, invoice price, commission & valuation of stock) 
• Joint Venture 

(3) Preparation of Final Accounts

• Profit-making concern (for sole proprietorship concern only) 
• Not – for – Profit making concern 

Section – B: Fundamentals of Cost Accounting

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of Fundamentals of Cost Accounting are as given below:

(1) Fundamentals of Cost Accounting

• Meaning, Definition, Significance of Cost Accounting, its relationship with Financial
• Accounting & Management Accounting 
• Classification of Costs 
• Format of Cost Sheet

Paper 3: Fundamentals of Laws and Ethics (FLE)

The topics covered under the syllabus of Fundamentals of Laws and Ethics (FLE) as per the CMA foundation syllabus 2022 are as given below:

Section A: Fundamentals of Commercial Laws 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of fundamentals of Commercial Laws are as given below:

(1) Indian Contract Act, 1872

• Essential elements of a contract, offer and acceptance 
• Void and voidable agreements 
• Consideration, the legality of the object and consideration 
• The capacity of Parties, consent 
• Quasi Contracts, Contingent Contracts 
• Performance of Contracts 
• Discharge of contracts 
• Breach of Contract and Remedies for Breach of Contract 

(2) Sale of Goods Act, 1930

• Definition       
• Transfer of ownership 
• Conditions and Warranties 
• Performance of the Contract of Sale 
• Rights of Unpaid Vendor 
• Auction Sales 

(3) Negotiable Instruments Act, 1881

• Negotiable Instruments –Characteristics of Negotiable Instruments 
• Definition of Promissory Note, bill of exchange and Cheque       
• Differences between Promissory Note, bill of exchange and Cheque 
• Crossing – Meaning, Definition and Types of Crossing   

Section B: Fundamentals of Ethics 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of fundamentals of ethics are as given below:

(1) Ethics and Business

• Ethics – Meaning, Importance 
• The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership. 
• The relationship between Ethics and Law 
• Ethics in Business

Paper 4: Fundamentals of Business Mathematics and Statistics (FBMS)

The topics covered under the syllabus of Fundamentals of Business Mathematics and Statistics (FBMS) as per the CMA foundation syllabus 2022 are as given below:

Section A: Fundamentals of Business Mathematics 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of fundamentals of Business Mathematics are as given below:

(1) Arithmetic

• Ratios, Variations and Proportions
• Simple and Compound interest
• Arithmetic Progression and Geometric Progression

(2) Algebra

• Set Theory
• Indices and Logarithms (basic concepts)
• Permutation and Combinations (basic concepts)
• Quadratic Equations (basic concepts)

Section B: Fundamentals of Business Statistics 

As per the syllabus of CMA foundation 2022, the topics covered in the syllabus of fundamentals of Business Statistics are as given below:

(1) Statistical Representation of Data

• Diagrammatic representation of data
• Frequency distribution
• Graphical representation of Frequency Distribution – Histogram, Frequency Polygon Curve, Ogive, Pie-chart

(2) Measures of Central Tendency and Dispersion

• Mean, Median, Mode, Mean Deviation
• Range, Quartiles and Quartile Deviation
• Standard Deviation
• Co-efficient of Variation
• Karl Pearson and Bowley’s Coefficient of Skewness

(3) Correlation and Regression

• Scatter diagram
• Karl Pearson’s Coefficient of Correlation
• Regression lines, Regression equations, Regression coefficients

(4) Probability

• Independent and dependent events, Mutually exclusive events
• Total and Compound Probability; Baye’s theorem; Mathematical Expectation

Sectional Weightage of Subjects as per the CMA Foundation Syllabus 2022

The section-wise marks weightage of CMA foundation papers as per the syllabus of 2022 are as given below: 

Section-wise marks weightage 

FAQs on CMA Foundation Syllabus

Below are the frequently asked questions about the CMA foundation syllabus.

Q1: What is the exam date of the CMA foundation 2022 – June session?
Ans: The CMA foundation 2022 exam June session will be conducted on July 8, 2022.

Q2: How many papers are there in the CMA Foundation syllabus?
Ans: There are four papers in CMA Foundation 2022 namely fundamentals of economics and management, fundamentals of accounting, fundamentals of business mathematics and statistics, and fundamentals of law and ethics.

Q3: Which subject holds the highest weightage in Paper 2 of the CMA foundation course?
Ans: The subject Fundamentals of Financial Accounting holds the highest, i.e, 80% weightage in CMA Foundation paper 2 courses.

Q4: Where can I get the necessary materials for CMA Foundation Course?
Ans: Students can download all the important study materials for CMA Foundation Course from Embibe. 

Q5: Can I take mock tests for CMA Foundation Course?
Ans: Yes, students appearing for the CMA Foundation Course 

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