Group II Paper Syllabi (Papers 9-12)

CMA Intermediate Paper 9: Operations Management and Strategic Management (OMSM)

Section A: Operations Management (60%)
Module 1 — Introduction: Scope, Characteristics, Recent Trends (5%)
Module 2 — Operations Planning: Demand Forecasting, Capacity Planning, Facility Location, MRP, Economic Batch Quantity (5%)
Module 3 — Designing Operational Systems and Control: Product Design, Process Design, Product Life Cycle, Design Thinking (5%)
Module 4 — Application of Operation Research — Production Planning and Control (20%): LPP, Transportation, Job Scheduling, Queuing Models, Simulation, Lean Operations, JIT
Module 5 — Productivity Management and Quality Management (5%): TQM, ISO Standards, Quality Circles
Module 6 — Project Management, Monitoring and Control (15%): Project Planning, Gantt Charts, PERT and CPM, MS Project Basics
Module 7 — Economics of Maintenance and Spares Management (5%): Breakdown, Preventive, Routine Maintenance, Spare Parts Management

Section B: Strategic Management (40%)
Module 8 — Introduction: Strategy, Vision, Mission, Balanced Scorecard, EVA (10%)
Module 9 — Strategic Analysis and Strategic Planning (10%): PESTEL, Value Chain, Porter Five Forces, SWOT, BCG Matrix, Stages and Alternatives in Strategic Planning
Module 10 — Formulation and Implementation of Strategy (10%): Production/Supply Chain/Marketing/HR Strategy, BPR, Strategic Business Unit, Goal Congruence
Module 11 — Digital Strategy (10%): Digital Transformation, Disruptive Business Models, Digital and Social Marketing Strategies

CMA Intermediate Paper 10: Corporate Accounting and Auditing (CAA) — equally split 50/50

Section A: Corporate Accounting (50%)
Module 1 — Accounting for Shares and Debentures (10%): Issue, Forfeiture, Rights Issue, Bonus, Sweat Equity, ESOP, Buyback; Redemption of Preference Shares and Debentures; Underwriting
Module 2 — Preparation of Profit & Loss and Balance Sheet as per Schedule III of Companies Act, 2013 (10%)
Module 3 — Cash Flow Statement (10%)
Module 4 — Accounts of Banking, Electricity and Insurance Companies (10%)
Module 5 — Accounting Standards — Ind AS with Comparative Provisions (10%): Ind AS 1, 2, 10, 19, 33, 37

Section B: Auditing (50%)
Module 6 — Basic Concepts of Auditing (10%): Nature, Scope, Auditing Standards, Audit Engagement, Audit Risk, Audit Sampling, Analytical Procedures, Technology in Audit
Module 7 — Provisions Relating to Audit under Companies Act, 2013 (30%): Statutory Audit — Eligibility, Appointment, Rights and Duties, Rotation; Cost Audit; Secretarial Audit; Audit of Financial Statements; Audit Report and CARO; NFRA
Module 8 — Auditing of Different Types of Undertakings (10%): Educational Institutions, Healthcare, Hospitality, Banks, Co-operative Societies, Local Self-Government

CMA Intermediate Paper 11: Financial Management and Business Data Analytics (FMDA)

Section A: Financial Management (80%)
Module 1 — Fundamentals of Financial Management (5%): Objectives, Wealth Maximisation, Time Value of Money, Risk and Return (CAPM), CFO Role
Module 2 — Institutions and Instruments in Financial Markets (10%): RBI, Commercial Banks, NBFCs, AIF (Angel/VC/PE), SEBI Regulations, Capital Market (IPO, FPO, Book Building), Money Market Instruments (Call Money, Treasury Bills, Commercial Paper, Repo)
Module 3 — Tools for Financial Analyses (15%): Ratio Analysis, Altman Z-Score, Fund Flow and Cash Flow Statements
Module 4 — Sources of Finance and Cost of Capital (10%): Long-Term/Short-Term Sources, Start-up Funding, WACC
Module 5 — Capital Budgeting (15%): Identification of Cash Flows, Evaluation Techniques (NPV, IRR, Payback, Profitability Index), Hurdle Rate
Module 6 — Working Capital Management (15%): Receivables, Payables, Inventory, Cash Management, MPBF Calculation, Export Financing
Module 7 — Financing Decisions of a Firm (10%): Capital Structure, Leverage, Dividend Decisions, Capital Stacking

Section B: Business Data Analytics (20%)
Module 8-11: Data Science fundamentals, Data Types in Finance, Data Processing and Validation, Data Visualisation (Dashboards, Graphs, XBRL), Data Analysis and Modelling (Descriptive, Predictive, Prescriptive), AI, Machine Learning, Robotic Process Automation

CMA Intermediate Paper 12: Management Accounting (MA)

Section A: Introduction to Management Accounting (5%)
- Introduction to Management Accounting (5%)

Section B: Activity Based Costing (10%)
- Activity Based Costing — concept, cost drivers, ABC vs Traditional Costing

Section C: Decision Making Tools (30%)
- Marginal Costing
- Applications of Marginal Costing in Short-Term Decision Making (Make or Buy, Key Factor, Product Mix)
- Transfer Pricing

Section D: Standard Costing (25%)
- Standard Cost and Standard Costing System
- Variance Analysis — Material, Labour, Overhead (Fixed and Variable), Sales Variances
- Investigation and Reporting of Variances

Section E: Budget and Budgetary Control (20%)
- Meaning and Objectives of Budgeting
- Types of Budgets (Sales, Production, Cash, Capital Expenditure)
- Flexible Budgeting, Zero-Based Budgeting (ZBB)
- Budgetary Control System

Section F: Lean Accounting and Reporting (10%)
- Lean Accounting: Principles and Value Stream Costing
- Sustainability Reporting in Management Accounting
- Integrated Reporting Framework