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49 views2 pages

Paper 2

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CMA Syllabus 2022

Paper 2

FUNDAMENTALS OF FINANCIAL AND


COST ACCOUNTING (FFCA) 100 Marks

Module No. Module Description Weight

Section A: Fundamentals of Financial Accounting 70%

1 Accounting Fundamentals 30%

2 Accounting for Special Transactions 15%

3 Preparation of Final Accounts 25%

Section B: Fundamentals of Cost Accounting 30%

4 Fundamentals of Cost Accounting 30%

SECTION A: FUNDAMENTALS OF FINANCIAL ACCOUNTING

1. Accounting Fundamentals
1.1 Understanding of Four Frameworks of Accounting (Conceptual, Legal, Institutional and
Regulatory) and Forms of Organization
1.2 Accounting Principles, Concepts and Conventions
1.3 Capital and Revenue Transactions - Capital and Revenue Expenditures, Capital and Revenue
Receipts
1.4 Accounting Cycle – Charts of Accounts and Codification Structure, Analysis of Transaction –
Accounting Equation, Double Entry System, Books of Original Entry, Subsidiary Books and
Finalisation of Accounts
1.5 Journal (Day Books; Journal Proper – Opening, Transfer, Closing, Adjustment and Rectification
Entries), Ledger
1.6 Cash Book, Bank Book, Petty Cash Book, Bank Reconciliation Statement
1.7 Trial Balance
1.8 Adjustment Entries and Rectification of Errors
1.9 Depreciation (Straight Line and Diminishing Balance Methods only)
1.10 Accounting Treatment of Bad Debts and Provision for Doubtful Debts

2. Accounting for Special Transactions


2.1 Consignment
2.2 Joint Venture
2.3 Bills of Exchange (excluding Accommodation Bill, Insolvency)

The Institute of Cost Accountants of India


CMA Syllabus 2022

3. Preparation of Final Accounts


3.1 Preparation of Financial Statements of Sole Proprietorship
3.1.1 Income Statement, Balance Sheet
3.2 Preparation of Financial Statements of a Not-for-Profit Organisation
3.2.1 Preparation of Receipts and Payments Account
3.2.2 Preparation of Income and Expenditure Account
3.2.3 Preparation of Balance Sheet

SECTION B: FUNDAMENTALS OF COST ACCOUNTING

4. Fundamentals of Cost Accounting


4.1 Meaning, Definition, Significance of Cost Accounting, its Relationship with Financial Accounting
4.2 Application of Cost Accounting for Business Decisions
4.3 Definition of Cost, Cost Centre, Cost Unit and Cost Drivers
4.4 Classification of Costs (with reference to Cost Accounting Standard 1)
4.5 Ascertainment of Cost and Preparation of Statement of Cost and Profit (Cost Sheet)

The Institute of Cost Accountants of India

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