Paper 5: CMA Intermediate - Financial Accounting

If you want to become a cost management accountant, you need to achieve expertise in the domain of financial accounting
It builds on the concepts learned from CMA Foundation (Fundamentals of Accounting). At foundation level, you were introduced to Fundamentals of Accounting. Here, you get a working knowledge of the accounting concepts involved in Financial Accounting. You also learn how to present and construct financial statements that are understandable to the relevant stakeholders

You are introduced to the fundamentals of accounting including accounting for special transactions
You will learn how to prepare final accounts for both profit and non-profit organisations, and from incomplete records
You will learn about concepts such as self-balancing ledgers, royalties, hire-purchase and instalment system, and branch & departmental accounts

Finally, you will get an overview of computerised accounting as well as specified accounting standards

Start as soon as possible: Start your study early and quickly. The syllabus is of a practical nature. So, you cannot mug things up a couple of weeks before the exam and hope to pass
Work things out practically: This is quite a practical field and so the best way to understand the content is to work out and solve practical problems. Try solving the problems before seeing the solution. The motto is to practice, practice and practice!
Solve past exam papers: Solve past exam papers to get an idea of what kind of questions will appear in the exam

Keep up with updates: Accounting standards keep changing from time to time. So, you need to keep up with the latest changes. It is a good idea for you to keep visiting the ICMAI website for any notifications and amendments


Faculty	Estimated Lectures	Lectures Available in the Portal
CA Chinmaya Hegde	155	29
CA Srikanth M S		17
CA Malaya panda		49
CA Adeline Rochelle D'sa		57


Chapter Name	Number of Lectures
Section A : Accounting – Basics
Study Note 1 : Fundamentals of Accounting	22
Study Note 2 : Accounting for Special Transactions	35
Section B : Preparation of Financial Statements
Study Note 3 : Preparation of Financial Statements of Profit Oriented Organizations	8
Study Note 4 : Preparation of financial statements of Not-for- Profit Organizations	10
Study Note 5 : Preparation of Financial Statements from Incomplete Records	7
Study Note 6 : Partnership	35
Section C: Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts
Study Note 8 : Royalties	5
Study Note 9 : Hire-Purchase and Installment System	4
Study Note 10 : Branch and Departmental Accounts	13
Section D : Accounting Computerized Environment and Accounting standards
Study Note 11: Computarised Accounting System	1
Study Note 12 : Accounting Standards	12

Financial Accounting