CMA Intermediate - Advance Your Cost Accounting Career

8 Papers (2 Groups)

Group I (4 papers) + Group II (4 papers)

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Eligibility

CMA Foundation Pass or Commerce Graduate (50%+)

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Practical Training

15 months SIP/SIT required

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CMA Intermediate

CMA Intermediate is the second level in the Cost and Management Accountancy program, offering comprehensive knowledge in cost accounting, financial management, taxation, and business laws. This critical stage prepares students for professional practice and the final CMA qualification. At ProCom Academy, we provide expert coaching by qualified CMAs with industry experience who combine theoretical concepts with practical applications. Our curriculum covers all 8 papers across two groups with emphasis on cost accounting techniques, financial management principles, and tax planning. With regular CBE mock tests, case studies, and personalized doubt-clearing, we ensure students develop strong analytical and problem-solving abilities essential for CMA Intermediate success.

About CMA Intermediate Course

  • Conducting Body: Institute of Cost Accountants of India (ICMAI)
  • Course Level: Intermediate Level (Second Stage)
  • Total Papers: 8 Papers divided into 2 Groups (800 Marks)
  • Group I: 4 Papers (400 Marks)
  • Group II: 4 Papers (400 Marks)
  • Exam Mode: Computer Based Examination (CBE)
  • Exam Frequency: Twice a year (June & December)
  • Duration: 3 hours per paper
  • Passing Criteria: Minimum 40% in each paper + 50% aggregate per group
  • Attempt Options: Both groups together OR one group at a time
  • Practical Training: 15 months SIP (Simulated Industrial Program) or SIT (Simulated Internship Training)

CMA Intermediate Syllabus - Complete Breakdown

GROUP I (4 Papers - 400 Marks)

Paper 5: Financial Accounting (100 Marks)

  • Framework for Preparation of Financial Statements
  • Accounting Standards (AS 1 to AS 29)
  • Indian Accounting Standards (Ind AS) - Introduction
  • Accounting for Share Capital, Debentures
  • Final Accounts of Companies
  • Accounting for Amalgamation, Absorption & Reconstruction
  • Consolidated Financial Statements
  • Accounting for Banking Companies
  • Accounting for Insurance Companies
  • Valuation of Goodwill and Shares
  • Cash Flow Statement (AS 3)
  • Insolvency and Liquidation Accounts

Paper 6: Laws, Ethics and Governance (100 Marks)

Part A - Business Laws (70 Marks):

  • The Companies Act, 2013 (Comprehensive)
  • Insolvency and Bankruptcy Code, 2016
  • Competition Act, 2002
  • Consumer Protection Act, 2019
  • The Cost and Works Accountants Act, 1959
  • Intellectual Property Rights (IPR)
  • Foreign Exchange Management Act (FEMA), 1999

Part B - Ethics & Governance (30 Marks):

  • Business Ethics & Code of Conduct
  • Corporate Governance Principles
  • Corporate Social Responsibility (CSR)
  • Sustainability Reporting
  • Professional Ethics for CMAs

Paper 7: Direct Taxation (100 Marks)

  • Basic Concepts of Income Tax
  • Residential Status & Tax Incidence
  • Heads of Income - Comprehensive Study
  • Income from Salaries
  • Income from House Property
  • Profits & Gains of Business or Profession
  • Capital Gains - Short Term & Long Term
  • Income from Other Sources
  • Clubbing of Income
  • Deductions from Gross Total Income (Chapter VI-A)
  • Computation of Total Income and Tax Liability
  • Set-off and Carry Forward of Losses
  • Tax Deduction at Source (TDS) & Tax Collection at Source (TCS)
  • Assessment Procedures & Appeals
  • Advance Tax, Self-Assessment Tax

Paper 8: Cost Accounting (100 Marks)

  • Introduction to Cost Accounting
  • Material Cost - Purchasing, Storing, Issuing, Valuation
  • Labour Cost - Time & Piece Rate, Labour Turnover
  • Direct Expenses
  • Overheads - Allocation, Apportionment, Absorption
  • Activity Based Costing (ABC)
  • Job Costing & Batch Costing
  • Contract Costing
  • Process Costing & Joint Product Costing
  • Service Costing (Transport, Hospital, Hotel)
  • Operating Costing
  • Standard Costing & Variance Analysis
  • Budgetary Control
  • Marginal Costing & Break-Even Analysis
  • Cost Sheet Preparation
GROUP II (4 Papers - 400 Marks)

Paper 9: Operations Management & Strategic Management (100 Marks)

Part A - Operations Management (50 Marks):

  • Introduction to Operations Management
  • Product & Service Design
  • Capacity Planning & Facility Location
  • Forecasting & Demand Management
  • Inventory Management (EOQ, ABC Analysis)
  • Materials Requirement Planning (MRP)
  • Just-In-Time (JIT) & Lean Manufacturing
  • Supply Chain Management
  • Total Quality Management (TQM)
  • Six Sigma & Quality Control
  • Project Management (PERT/CPM)

Part B - Strategic Management (50 Marks):

  • Introduction to Strategic Management
  • Strategic Analysis (SWOT, PESTLE)
  • Porter's Five Forces Model
  • Corporate Level Strategy
  • Business Level Strategy
  • Functional Level Strategy
  • Strategy Implementation & Control
  • Balanced Scorecard
  • Strategic Leadership

Paper 10: Cost & Management Accounting and Financial Management (100 Marks)

Part A - Cost & Management Accounting (50 Marks):

  • Cost Management Techniques
  • Target Costing & Life Cycle Costing
  • Kaizen Costing & Theory of Constraints
  • Value Chain Analysis
  • Throughput Accounting
  • Cost Optimization Techniques
  • Pricing Decisions & Strategies
  • Decision Making - Make or Buy, Shutdown
  • Linear Programming
  • Transfer Pricing
  • Responsibility Accounting & Divisional Performance

Part B - Financial Management (50 Marks):

  • Scope & Objectives of Financial Management
  • Time Value of Money
  • Cost of Capital (WACC)
  • Capital Structure Theories (MM, NOI, NI)
  • Leverages - Operating, Financial, Combined
  • Capital Budgeting Decisions (NPV, IRR, Payback)
  • Risk Analysis in Capital Budgeting
  • Working Capital Management
  • Receivables, Inventory, Cash Management
  • Dividend Decisions & Theories
  • Sources of Finance - Long Term & Short Term

Paper 11: Indirect Taxation (100 Marks)

  • Introduction to Goods and Services Tax (GST)
  • Constitutional Provisions of GST
  • GST - Concepts & Levy (CGST, SGST, IGST, UTGST)
  • Charge of GST & Exemptions
  • Time of Supply & Place of Supply
  • Value of Taxable Supply
  • Input Tax Credit (ITC) - Eligibility & Availability
  • Registration under GST
  • Tax Invoice, Credit & Debit Notes
  • Accounts & Records under GST
  • Returns under GST
  • Payment of Tax, Interest, Penalty
  • Reverse Charge Mechanism (RCM)
  • Composition Scheme
  • E-Way Bill
  • Assessment & Audit under GST
  • Refunds under GST
  • Customs Duty - Basic Concepts

Paper 12: Company Accounts & Audit (100 Marks)

Part A - Company Accounts (50 Marks):

  • Preparation of Final Accounts (As per Schedule III)
  • Profit & Loss Account of Companies
  • Balance Sheet of Companies
  • Cash Flow Statement (AS 3, Ind AS 7)
  • Corporate Financial Reporting
  • Consolidated Financial Statements
  • Specialized Industry Accounts
  • Financial Statement Analysis
  • Ratio Analysis for Companies

Part B - Audit (50 Marks):

  • Introduction to Auditing
  • Audit Planning & Documentation
  • Audit Evidence & Audit Sampling
  • Internal Control & Internal Audit
  • Risk Assessment in Audit
  • Vouching & Verification
  • Audit of Limited Companies
  • Cost Audit - Concepts & Procedures
  • Cost Audit Report (CRA-1, CRA-2, CRA-3)
  • The Cost Audit Report Rules, 2011
  • Cost Accounting Records Rules
  • Appointment & Remuneration of Cost Auditor
  • Audit Report & Auditor's Responsibility

Why Choose ProCom Academy for CMA Intermediate?

  • Expert CMA Faculty: Classes by qualified CMAs with industry experience
  • CBE Practice Platform: Unlimited practice on computer-based exam platform
  • Comprehensive Study Material: ICMAI books + detailed notes for all papers
  • Group-wise Batches: Separate batches for Group I, II or Both Groups
  • Regular Mock Tests: Paper-wise and full CBE mock exams
  • Case Study Focus: Real-world case studies for practical understanding
  • Taxation Updates: Regular updates on Income Tax & GST amendments
  • Cost Accounting Labs: Practical sessions on cost sheet preparation
  • Performance Tracking: Individual progress monitoring and counseling
  • SIP/SIT Guidance: Complete support for practical training registration
  • Success Rate: 75%+ students clear in first attempt

CMA Intermediate Exam Pattern

  • Exam Mode: Computer Based Examination (CBE)
  • Duration: 3 hours per paper
  • Total Papers: 8 Papers (Group I: 4, Group II: 4)
  • Total Marks: 100 marks per paper (800 marks total)
  • Question Types: MCQs, Descriptive, Practical Problems, Case Studies
  • Group System: Can attempt both groups or one group at a time
  • Pass Marks: Minimum 40% in each paper + 50% aggregate per group
  • Exemption: Papers passed with 60%+ get exemption
  • Negative Marking: Applicable only in MCQ sections (0.25 marks)

Practical Training (SIP/SIT)

  • Duration: 15 months (minimum)
  • SIP: Simulated Industrial Program - Classroom based training
  • SIT: Simulated Internship Training - On-the-job training
  • Start: Can begin after passing at least one group
  • Completion: Required before appearing for CMA Final
  • Training Areas: Cost Accounting, Financial Management, Taxation, Audit
  • Registration: With ICMAI for SIP/SIT enrollment
  • ProCom Support: Assistance in finding quality training opportunities

Course Highlights

  • 6 days a week classes with weekend doubt sessions
  • Chapter-wise tests after each topic completion
  • Comprehensive revision classes before exams
  • CBE mock tests on actual exam interface
  • Group discussions for complex topics
  • Previous years' question papers practice
  • Small batch size (max 25 students)
  • Career counseling and placement guidance
  • Industry expert guest lectures

Career Opportunities After CMA

  • Cost Accountant: Manufacturing & Service Industries
  • Management Accountant: Financial Planning & Analysis
  • Financial Controller: Corporate Finance Departments
  • Internal Auditor: Corporate Audit Teams
  • Tax Consultant: Direct & Indirect Taxation
  • Cost Auditor: Independent Practice or Firms
  • Budget Analyst: Government & Private Sector
  • Entrepreneur: Own Practice or Consultancy

Additional Information

  • After CMA Intermediate, proceed to CMA Final (after SIP/SIT)
  • Commerce graduates with 50%+ get direct entry to Intermediate
  • CMA qualification recognized globally in 50+ countries
  • Average preparation time: 12-18 months for both groups
  • ProCom provides end-to-end support from Intermediate to Final
  • Dual qualification: Many pursue CA + CMA together

Note: For batch schedules, SIP/SIT guidance, and enrollment, please fill the inquiry form or visit ProCom Academy.

CMA Intermediate Inquiry

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