Exam Pattern, Papers & Groups

CMA Intermediate Revised Syllabus 2022 has 8 papers in 2 groups:

Group I (4 papers):
Paper 5: Business Laws and Ethics
Paper 6: Financial Accounting
Paper 7: Direct and Indirect Taxation
Paper 8: Cost Accounting

Group II (4 papers):
Paper 9: Operations Management and Strategic Management
Paper 10: Corporate Accounting and Auditing
Paper 11: Financial Management and Business Data Analytics
Paper 12: Management Accounting

All papers are 100 marks each. Total: 800 marks across both groups.

CMA Intermediate Course has 8 papers in two groups under Syllabus 2022:

Group I:
- Paper 5: Business Laws and Ethics (BLE)
- Paper 6: Financial Accounting (FA)
- Paper 7: Direct and Indirect Taxation (DITX)
- Paper 8: Cost Accounting (CA)

Group II:
- Paper 9: Operations Management and Strategic Management (OMSM)
- Paper 10: Corporate Accounting and Auditing (CAA)
- Paper 11: Financial Management and Business Data Analytics (FMDA)
- Paper 12: Management Accounting (MA)

CMA Intermediate (Syllabus 2022) has 8 papers in 2 groups, each paper carrying 100 marks:

Group I:
Paper 5: Business Laws and Ethics
- Commercial Laws (30%), Industrial Laws (15%), Corporate Laws (40%), Business Ethics (15%)

Paper 6: Financial Accounting
- Accounting Fundamentals (15%), Special Transactions (10%), Financial Statements (20%), Partnership (20%), Lease/Branch/Departmental (15%), Accounting Standards (20%)

Paper 7: Direct and Indirect Taxation
- Direct Taxation (50%) + Indirect Taxation (50%)

Paper 8: Cost Accounting
- Introduction to Cost Accounting (40%), Methods of Costing (30%), Cost Accounting Techniques (30%)

Group II:
Paper 9: Operations Management and Strategic Management
- Operations Management (60%) + Strategic Management (40%)

Paper 10: Corporate Accounting and Auditing
- Corporate Accounting (50%) + Auditing (50%)

Paper 11: Financial Management and Business Data Analytics
- Financial Management (80%) + Business Data Analytics (20%)

Paper 12: Management Accounting
- Sections covering Activity Based Costing, Decision Making Tools, Standard Costing, Budgetary Control, Divisional Performance, Responsibility Accounting

CMA Intermediate papers (Revised Syllabus 2022) are a mix of objective and descriptive questions. The exact split per paper is defined by ICMAI in the exam scheme notification. Check the current exam scheme on icmai.in for the exact format.

Yes. You can attempt Group I and Group II separately in different sessions or both in the same session. There is no restriction on which group to attempt first. Once a group is cleared, it is permanently done.

Yes. Subject exemptions are available for CMA Intermediate students under Syllabus 2022:

1. Corresponding Exemptions (from Syllabus 2016 to 2022): Students with exemptions in certain Syllabus 2016 papers get corresponding exemption in Syllabus 2022 papers.

2. Reciprocal Exemptions for Company Secretary (ICSI) students:
- Paper 7: Direct and Indirect Taxation
- Paper 10: Corporate Accounting and Auditing
Prescribed fee: Rs. 1,000 per subject. Apply online at least 60 days before examination.

3. Qualification-based Exemptions:
- Qualified LLB: Exemption in Paper 5 (Business Laws and Ethics)
- Qualified Engineer: Exemption in Paper 9 (Operations Management & Strategic Management)
Prescribed fee: Rs. 3,000 per subject. Apply at least 60 days before examination.

CMA Intermediate exams are held twice per year — June session and December session. Results for June are in August; December results in February.

The registration fee for CMA Intermediate Course is Rs. 500 as applicable (this is included in the total fees). The complete fee structure is given in Annexure IX of the CMA Prospectus. Course fees once paid and admission/registration completed will not be refunded, except in case of non-acceptance of application by the Institute (with 10% deduction towards processing charges).