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Tuesday, August 04, 2020

CMA Intermediate Paper 5: Financial Accounting Question Paper Pattern and Syllabus | Important Topics


PAPER 5: FINANCIAL ACCOUNTING

Section A: Accounting – Basics (25%)
Sec B: Preparation of Financial Statements (40%)
1. Fundamentals of Accounting
2. Accounting for Special Transactions.
3. Accounting for NPO including Balance sheet, Final Accounts and Single entry system.
4. Partnership Accounts
Sec C: Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts. (20%)
Sec D: Accounting in Computerised Environment and Accounting Standards (15%)
5. Self-Balancing Ledgers
6. Royalties, Hire-Purchase and Installment System
7. Branch and Departmental Accounts
8. Overview of Computerised Accounting
9. Accounting Standards (Specified only)


This paper is divided into two parts.
First part (MCQs) = 25 questions x 1 mark each = 25

Second part (Practical Problems) = 5 questions x 15 marks each = 75
First part consists of total 25 short answer type questions which are summarised as follow:
Type of Questions
No. of Questions
Total Marks
Multiple Choice Questions
10 Questions
10x1 = 10
Match the following
5 Questions
5x1=5
True or False
5 Questions
5x1 = 5
Fill in the blanks
5 Questions
5x1=5
Total Marks
25 marks
Second part consist of total 7 questions carrying 15 marks each out of you have to attempt only 5 questions.
Section A: Accounting – Basics (25%)
Important Topics
Year
Corrected Trial Balance
Dec 2018
Rectification of errors
June 2017, Dec 2017, June 2018, June 2019
Bad debts and Provisions for b/d
June 2018
Consignments
June 2019
Insurance Claim
June 2017, June 2018, Dec 2018, June 2019, Dec 2019
Bills of Exchange
June 2017, June 2018
Section B: Preparation of Financial Statements (40%)
I/E Account with Balance sheet
Dec 2017, June 2018, Dec 2018, Dec 2019
Single Entry System
June 2017, Dec 2017, June 2018, Dec 2018, Dec 2019
Final Accounts
June 2019, Dec 2019
Admission of a Partner
Dec 2017, June 2018, Dec 2019
Retirement of a partner
June 2017
Death of a Partner
Dec 2018 (J)
Dissolution of Partnership Firm
Dec 2017, June 2019
Section C: Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts. (20%)
Self Balancing Ledger
June 2017, Dec 2018, June 2018, Dec 2018, June 2019, Dec 2019
Royalty Accounts
Dec 2018, Dec 2019
Branch Trading Account
June 2017, June 2018, June 2019
Departmental Account
Dec 2017, Dec 2018, Dec 2019
Hire Purchase and Installment Purchase
June 2017, Dec 2017, June 2018, June 2019
Section D: Accounting in Computerized Environment and Accounting Standards (15%)
Accounting Standard
June 2017, Dec 2017, June 2018, Dec 2018, June 2019, Dec 2019
Computerised Accounting Theory
Almost Every Exam
*************************************************************************************
PAPER-5: FINANCIAL ACCOUNTING DETAILED SYLLABUS
Section A: Accounting – Basics
1. Fundamentals of Accounting: Accounting - Meaning, Scope and Significance of Accounting - Accounting Principles, Concepts and Conventions - Capital and Revenue Transactions – Depreciation - Rectification of Errors.
2. Accounting for Special Transactions: Bills of Exchange - Consignment - Joint Venture - Insurance Claims (Loss of Stock and Loss of Profit)
Section B: Preparation of Financial Statements
3. Preparation of Final Accounts of Profit Oriented organizations, Non-Profit Organizations and from Incomplete Records
(i) Preparation of Financial statements of Profit Oriented organizations: P&L Account, Balance Sheet.
(ii) Preparation of Financial Statements of Non-Profit making organizations: Preparation of Receipts & Payments Account, Income& Expenditure account and Balance Sheet.
(iii) Preparation of Financial Statements from incomplete records (Single entry)
4. Partnership Accounts
Admission, Retirement, Death, Treatment of Joint Life Policy ,Dissolution of partnership firms including piece meal distribution, Amalgamation of partnership firms, Conversion of partnership firm into a company and sale of partnership firm to a company
Section C: Self Balancing Ledgers, Royalties, Hire Purchase & Installment System, Branch & Departmental Accounts.
5. Self-Balancing Ledgers
6. Royalty Accounts, Hire Purchase and Installment System.
7. Branch and Departmental Accounts.
Section D: Accounting in Computerized Environment and Accounting Standards
8. Computerized Accounting System – Features, Significance, Grouping of Accounts, Ledger hierarchy,
Accounting Packages and their selection criteria
9. Accounting Standards (AS-1, AS-2, AS-6, AS-7, AS-9, AS-10)

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