Exam Pattern & Subjects

CMA Foundation Revised Syllabus 2022 has 4 papers:

Paper 1: Fundamentals of Economics and Management (100 marks)
Paper 2: Fundamentals of Accounting (100 marks)
Paper 3: Fundamentals of Laws and Ethics (100 marks)
Paper 4: Fundamentals of Business Mathematics and Statistics (100 marks)

All 4 papers are objective (OMR-based). Total: 400 marks. Sessions: June and December.

CMA Foundation Course has 4 papers under Syllabus 2022:
1. Paper 1: Fundamentals of Business Laws and Business Communication (FBLC)
2. Paper 2: Fundamentals of Financial and Cost Accounting (FFCA)
3. Paper 3: Fundamentals of Business Mathematics and Statistics (FBMS)
4. Paper 4: Fundamentals of Business Economics and Management (FBEM)

Each paper covers four knowledge pillars: Management, Strategy, Regulatory Framework, and Financial Reporting.

CMA Foundation has 4 papers, each carrying 100 marks:

Paper 1: Fundamentals of Business Laws and Business Communication (FBLC)
- Section A: Fundamentals of Business Laws (80%)
- Section B: Business Communication (20%)

Paper 2: Fundamentals of Financial and Cost Accounting (FFCA)
- Section A: Fundamentals of Financial Accounting (70%)
- Section B: Fundamentals of Cost Accounting (30%)

Paper 3: Fundamentals of Business Mathematics and Statistics (FBMS)
- Section A: Fundamentals of Business Mathematics (40%)
- Section B: Fundamentals of Business Statistics (60%)

Paper 4: Fundamentals of Business Economics and Management (FBEM)
- Section A: Fundamentals of Business Economics (70%)
- Section B: Fundamentals of Management (30%)

Total: 400 marks. All 4 papers are compulsory.

Yes. CMA Foundation papers are objective (OMR-based) with negative marking. For every wrong answer, 0.25 marks (¼ mark) are deducted. Unattempted questions carry no negative marks.

CMA Syllabus 2022 is built on four knowledge pillars:
1. Management
2. Strategy
3. Regulatory Framework
4. Financial Reporting

The syllabus is based on International Education Standards set by IFAC (International Federation of Accountants) and IAESB (International Accounting Education Standards Board), aligned with National Education Policy 2020.

CMA Foundation Paper 1 (FBLC) covers two sections:

Section A - Fundamentals of Business Laws (80 marks):
- Introduction to Law (Sources, Legislative Process, Court System)
- Indian Contracts Act, 1872 (Essential Elements, Types, Offer/Acceptance, Void Agreements, Discharge, Breach)
- Sale of Goods Act, 1930 (Transfer of Ownership, Conditions & Warranties, Rights of Unpaid Seller)
- Negotiable Instruments Act, 1881 (Promissory Note, Bill of Exchange, Cheque, Dishonour)

Section B - Business Communication (20 marks):
- Types of Communication (Formal/Informal, Verbal/Non-verbal, Written)
- Internet-based Business Communication
- Letter, Memorandum, Report, Business Proposal writing
- Barriers to Business Communication

CMA Foundation exams are held twice per year — June session (results in August) and December session (results in February). Students can attempt both sessions within their registration validity.

Each CMA Foundation paper is 2 hours long and consists of 100 objective (MCQ) questions, each carrying 1 mark. Total: 100 questions, 100 marks per paper.

CMA Foundation Paper 3 (FBMS) covers:

Section A - Business Mathematics (40 marks):
- Arithmetic: Ratios, Variations, Proportions, Time Value of Money (Simple & Compound Interest), Arithmetic & Geometric Progression
- Algebra: Set Theory (Venn Diagram), Indices & Logarithms, Permutation & Combination, Quadratic Equations
- Calculus: Revenue & Cost Functions, Optimisation Techniques

Section B - Business Statistics (60 marks):
- Statistical Representation: Diagrammatic Representation, Frequency Distribution, Histogram, Frequency Polygon
- Measures of Central Tendency: Mean, Median, Mode, Mean Deviation, Standard Deviation, Coefficient of Variation
- Correlation and Regression Analysis
- Probability (Concepts and Primary Applications)
- Index Numbers and Time Series