CMA Foundation
Question Paper Pattern and Syllabus
PAPER – 2: FUNDAMENTALS OF ACCOUNTING
| Section A: Fundamentals of Financial Accounting (80%) | Section B: Fundamentals of Cost Accounting (20%) |
| 1. Accounting Fundamentals 35% 2. Accounting for Special Transactions 20% 3. Preparation of Final Accounts 25% | 4. Fundamentals of Cost Accounting 20% |
Section A: Fundamentals of Financial Accounting [80 Marks]
Section A is divided into two parts.
First part consists of total 48 short answer type questions which are summarised as follow:
| Type of Questions | No. of Questions | Total Marks |
| Multiple Choice Questions | 30 Questions | 30x1 = 30 |
| True or False | 12 Questions | 12x1 = 12 |
| Match the following | 6 Questions | 6x1 = 6 |
| Total Marks | 48 | |
Second part consist of total 32 marks in which you have to attempt 4 questions carrying 8 marks each out of 7 given questions.
| Important Topics for Second Part | Asked in which exam? |
| Depreciation and Machinery account | June 2017(SLM), Dec 2017 (WDV), June 2018 (SLM), Dec 2018 (WDV), June 2019, Dec (2019) |
| Consignments accounts | June 2017, Dec 2017, Dec 2018, Dec 2019 |
| Joint Venture | June 2019 |
| Income and Expenditure account with B/S | June 2017, Dec 2018, June 2019 |
| Rectification of errors (Journal Entries) | June 2017, June 2018, Dec 2018, Dec 2019 |
| Adjustment entries/Closing Entries | June 2017, June 2018, June 2019 |
| Bank reconciliation statement | June 2017, Dec 2017, June 2018, Dec 2018, June 2019, Dec 2019 |
| Three Column cash book | Dec 2017 |
| Effect of adjustments in final accounts | Dec 2017 |
| Preparation of final accounts | Dec 2017, June 2018 (Only B/S), Dec 2019 |
| Bills of Exchange | June 2018, June 2019 |
| Preparation of Various journal from given transactions | Dec 2018, Dec 2019 |
Section B : Fundamentals of Cost Accounting [20 Marks]
Section B is divided into two parts.
First part consists of total 12 MCQs questions which are carrying 1 mark each: 12x1=12 Marks
Second part consist of total 8 marks in which you have to attempt 1 question carrying 8 mark out of 2 questions given.
Common Topics:
a) Preparation of cost sheet (Every Year)
b) Basic Concept of Cost accounting including elements of cost
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Detailed Syllabus of Fundamentals of Accounting
Section A: Fundamentals of Financial Accounting [80 Marks]
1. Accounting Basics
(a) Accounting Principles, Concepts and Conventions
(b) Capital and Revenue transactions - capital and revenue expenditures, capital and revenue receipts
(c) Double entry system, Books of prime entry, Subsidiary Books, Cash Book
(d) Journal, Ledger, Trial Balance
(e) Depreciation - Methods (Straight Line and Diminishing Balance methods only)
(f) Rectification of Errors
(g) Opening entries, Transfer entries, Adjustment entries, Closing entries
(h) Bank Reconciliation Statements
2. Accounting for Special Transactions
(a) Bills of Exchange (excluding accommodation bill, insolvency)
(b) Consignment (cost price, invoice price, commission & valuation of stock)
(c) Joint Venture
3. Preparation of Final Accounts:
(a) Of a Profit making concern (for sole proprietorship concern only)
(i) Accounting treatment of bad debts, reserve for bad and doubtful debts, provision for discount on debtors and provision for discount on creditors.
(ii) Preparation of Trading Account, Profit & Loss Account and Balance Sheet.
(b) Of a Not-for- Profit making concern
(i) Preparation of Receipts and Payments Account
(ii) Preparation of Income and Expenditure Account
Section B: Fundamentals of Cost Accounting [20 Marks]
4. Fundamentals of Cost Accounting
(a) Meaning, Definition, Significance of Cost Accounting, its relationship with Financial Accounting & Management Accounting.
(b) Classification of Costs
(c) Format of Cost Sheet
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