The topics covered in Fundamentals of Laws & Ethics at CMA Foundation Level
- There are various areas of Laws, but you will be learning only laws pertaining to business or to be precise laws governing Trade and Commerce such as Indian Contract Act, Sale of Goods Act and Negotiable Instruments Act
In ethics, you will be understanding the meaning, definitions given by various scholars, Principles of Ethics, and applicability of ethics in Business
The best approach to study Fundamentals of Law and Ethics is,
- Law requires good Interpretation skills. It takes a lot of time to understand and apply law. Therefore, good amount of time should be given for studying Law. Once the basics are strong, it helps in building strong base to acquire knowledge on Law at Intermediate and Final Level
- The best approach to study this subject is to first understand the concepts and then solve multiple choice questions. This way you will retain the concepts for a longer tenure and understand your footing on the subject
- Study Time: As per ICMAI rules and regulation, there should be at least 9 months of time gap from the time of registration to the time of giving exam. The reason behind this is, a student should do a thorough study of all the concepts. Therefore, it is always recommended to start immediately after registering to the course
- Study content: There are many books which are available in the market as well as various books recommended by ICMAI. However, from the point of view of exam and to conceptually understand the entire syllabus, Study materials given by ICMAI is highly recommended. Cover the ICMAI syllabus in detail and don’t indulge in any selective coverage of syllabus