CMA Intermediate Paper 6 | Laws And Ethics

Paper 6 :

Laws and Ethics

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Laws and Ethics

Series 1

Series 2

Series 3

01 Indian Contract Act, 1872

15 Lectures Know More

02 Sale of Goods Act, 1930

5 Lectures Know More

05 Limited Liability Partnership Act, 2008

2 Lectures Know More

03 Negotiable Instruments Act, 1881

10 Lectures Know More

04 Indian Partnership Act, 1932

5 Lectures Know More

06 Factories Act, 1948

6 Lectures Know More

07 Payment of Gratuity Act, 1972

3 Lectures Know More

10 Payment of Bonus Act, 1965

4 Lectures Know More

11 Minimum Wages Act, 1948

1 Lecture Know More

08 Employees Provident Fund and Miscellaneous Provisions Act, 1952

3 Lectures Know More

09 Employees Provident Fund and Miscellaneous Provisions Act, 1952

1 Lecture Know More

12 Payment of Wages Act, 1936

1 Lecture Know More

13 Companies Act 2013

55 Lectures Know More

14 Business Ethics

1 Lecture Know More

01 Indian Contract Act, 1872

6 Lectures Know More

02 Sale of Goods Act, 1930

11 Lectures Know More

03 Negotiable Instruments Act, 1881

5 Lectures Know More

04 Indian Partnership Act, 1932

5 Lectures Know More

05 Limited Liability Partnership Act, 2008

2 Lectures Know More

06 Factories Act, 1948

2 Lectures Know More

07 Payment of Gratuity Act, 1972

1 Lecture Know More

08 Employees Provident Fund and Miscellaneous Provisions Act, 1952

1 Lecture Know More

13 Companies Act 2013

5 Lectures Know More

01 Sale of Goods Act, 1930

1 Lecture Know More

13 Pension Fund Regulatory and Development Authority Act, 2013

1 Lecture Know More

15 Business Ethics

1 Lecture Know More

About Laws and Ethics

Laws are a set of rules and principles created by a government that regulate the behaviour and actions of the community. Ethics are those moral principles that govern a person’s behaviour. It is concerned with what is good for a society and an individual in terms of rights and obligations. In the paper you will be concerned with business ethics, i.e., ethics as applied to business situations such as corporate governance, bribery, etc.

As a CMA, you would need to understand the laws and environment under which businesses operate in India. Due to the professional nature of the job, you will be responsible to many important stakeholders including the government. As such, you need to conduct yourself with a high degree of professionalism and with utmost integrity. The paper builds on the concepts you learned at the Foundation level. You will understand, to a greater depth, various business laws, with special emphasis on online contracts, etc. You will also get a better grounding in ethical principles.

The topics covered in Financial Accounting at the CMA Intermediate level is,

You will delve deeply into commercial laws such as Laws of Contracts, Laws relating to Sale of Commercial Goods, etc. under various Acts such as Indian Contracts Act, 1872, Sale of Goods Act, 1930, Negotiable Instruments Act, 1881, Indian Partnership Act, 1932, and Limited Liability Partnership Act, 2008
You should understand the objectives, scope and applicability of Industrial laws like Factories Act, 1948, Payment of Gratuity Act, 1972, Employees Provident Fund Act, 1952, Employees State Insurance Act, 1948, Payment of Bonus Act, 1965, Minimum Wages Act, 1948 and Payment of Wages Act, 1936
In addition to the ethical principles outlined at the foundation level, you will gain further insight into the values and attitudes that go into becoming a professional accountant

The best approach to studying Laws and Ethics is,

Do not memorise without understanding: Law is a very theoretical subject and students think they need to memorise all the information. This is not correct because memorisation without understanding will lead to disaster. A better way is to understand the various applications of the law in practical situations
Do not cram: Spreading your study over a period of many days is better than going through the entire subject in just a few days before the exam
Plan your study: The best generals do not go to war without a plan of attack. In the same way, before even you begin your study, understand what is expected. Understand the objectives and syllabus to come up with a study timetable that will organise your study
Keep up with Updates: Due to the dynamic nature of the law, the syllabus keeps getting updated to reflect the latest changes in legislation. Keep visiting the ICMAI website for notifications and amendments applicable for your exam

Faculty

CA Rajiv Rabindran

CS Dattatri HM

CA Anushree Bansal

CS Mohan Kumar B K

CS Akshata Rao

Dr. Madhusudhanan C V

CS Shruthi Prakash

CA Ashish Gupta

Resources

Question Paper June 2019

Question Paper Dec 2018

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