CMA

Analyse how a business transaction changes assets, liabilities, capital, income, and expenses under the accounting equation.

Record routine business transactions using the double-entry system and appropriate journal entries.

Post journal entries to ledger accounts and balance each account.

Prepare a trial balance from ledger balances and identify errors disclosed by it.

Rectify accounting errors using journal entries and a suspense account.

Prepare a bank reconciliation statement after updating the cash book for unrecorded items.

Measure and record inventory at the lower of cost and net realisable value using FIFO or weighted-average cost.

Calculate and record depreciation under the straight-line and written-down-value methods.

Determine whether an offer and acceptance create a valid agreement under the Indian Contract Act, 1872.

Assess whether consideration supporting an agreement is legally valid.

Determine whether parties have the legal capacity to contract.

Assess whether consent is free when coercion, undue influence, fraud, misrepresentation, or mistake is alleged.

Distinguish valid, void, voidable, illegal, and unenforceable agreements in given cases.

Determine the legal consequences of contingent contracts and quasi-contractual obligations.

Determine whether contractual obligations have been performed or discharged.

Select the remedy available for a breach of contract in a given scenario.

Use core income-tax terms to identify the person, assessee, previous year, assessment year, and relevant tax period in a case.

Determine an individual's residential status for an assessment year.

Determine which income is taxable in India based on residential status and place of receipt or accrual.

Classify a receipt under the correct head of income or as exempt income.

Compute taxable salary after applying the treatment of basic pay, allowances, and deductions.

Compute the taxable value of common salary perquisites and retirement benefits.

Determine the gross annual value and net annual value of a house property.

Compute income from house property after municipal taxes, statutory deduction, and interest on borrowed capital.

Distinguish cost accounting from financial accounting and management accounting in a business scenario.

Classify a cost by element, function, behaviour, controllability, normality, and traceability.

Prepare a cost sheet showing prime cost, factory cost, cost of production, cost of sales, and profit.

Calculate material issue prices using FIFO and weighted-average methods.

Calculate economic order quantity, reorder level, minimum level, and maximum level.

Compute labour cost after accounting for time wages, piece wages, overtime, and idle time.

Allocate, apportion, and reapportion production and service-department overheads.

Calculate overhead absorption rates and determine under- or over-absorption.

Pass year-end adjustment entries for accruals, prepayments, bad debts, provisions, and closing inventory.

Prepare a sole proprietor's financial statements from a trial balance with adjustments.

Record bills of exchange transactions, including endorsement, discounting, dishonour, and renewal.

Prepare consignment accounts including commission, stock valuation, and normal or abnormal loss.

Prepare accounts for a joint venture using the separate-books or memorandum method.

Ascertain profit or loss from incomplete records using the statement-of-affairs method.

Reconstruct missing ledger figures and prepare financial statements from incomplete records.

Prepare receipts and payments, income and expenditure, and balance-sheet accounts for a not-for-profit organisation.

Determine the rights and liabilities of parties to contracts of indemnity and guarantee.

Determine the rights and liabilities arising from bailment and pledge.

Determine how an agency is created, operated, and terminated in a given case.

Distinguish a sale from an agreement to sell and classify contractual terms as conditions or warranties.

Determine when ownership and risk pass from seller to buyer under a contract of sale.

Apply the remedies available to a buyer, seller, or unpaid seller under the Sale of Goods Act, 1930.

Identify the parties to promissory notes, bills of exchange, and cheques and determine their liabilities.

Apply rules governing endorsement, negotiation, crossing, presentment, and dishonour of negotiable instruments.

Compute profits and gains from business or profession by adjusting accounting profit for tax provisions.

Calculate allowable tax depreciation for a block of assets.

Compute short-term and long-term capital gains for a basic transfer of a capital asset.

Compute taxable income from other sources, including interest, dividends, gifts, and family pension.

Apply clubbing provisions to attribute income to the correct assessee.

Set off current-year losses and determine losses eligible to be carried forward.

Calculate deductions from gross total income under the principal Chapter VI-A provisions.

Compute an individual's total income and final tax liability, including rebate, surcharge, and cess where applicable.

Calculate the cost and profit of a job using job costing.

Determine economic batch quantity and unit cost under batch costing.

Prepare contract accounts and calculate the profit transferable from incomplete contracts.

Prepare process accounts incorporating normal loss and abnormal loss or gain.

Calculate equivalent units and process cost per equivalent unit for work in progress.

Allocate joint costs and account for joint products and by-products.

Calculate a service unit cost using operating or service costing.

Reconcile profits reported by cost accounts and financial accounts.

Prepare partnership accounts for admission of a partner, including goodwill, revaluation, and capital adjustment.

Prepare partnership accounts for retirement or death of a partner.

Prepare accounts for dissolution of a partnership, including realisation and settlement among partners.

Prepare accounts for an insolvent partner using the applicable loss-sharing rule.

Prepare dependent-branch accounts using the debtors or stock-and-debtors system.

Prepare departmental accounts including allocation of common expenses and adjustment of interdepartmental profit.

Record lease transactions in the books of the lessee and lessor under the prescribed accounting treatment.

Translate basic foreign-currency transactions and recognise exchange differences under the applicable accounting standard.

Classify a company and determine the legal steps and documents required for incorporation.

Apply the doctrines governing the memorandum, articles, constructive notice, indoor management, and ultra vires acts.

Determine legal requirements relating to prospectus, share capital, and company membership in a given case.

Determine the appointment, duties, powers, and disqualification of directors and key managerial personnel.

Determine whether a company meeting and its resolutions comply with statutory requirements.

Assess compliance with working-hour, safety, welfare, and wage requirements under the principal industrial laws in the syllabus.

Determine gratuity entitlement and the applicability of EPF and ESI provisions in an employee scenario.

Resolve a business dilemma using ethical principles, professional values, and stakeholder analysis.

Determine whether a transaction constitutes a taxable supply of goods or services under GST.

Classify a transaction as a composite or mixed supply and determine whether reverse charge applies.

Determine the place of supply and classify a transaction as intra-state or inter-state.

Determine the time of supply for goods or services.

Calculate the taxable value of a supply after inclusions, exclusions, discounts, and subsidies.

Determine eligible input tax credit and calculate net GST liability after utilisation of credits.

Apply GST registration, tax-invoice, e-way-bill, payment, and return requirements to a basic compliance case.

Calculate assessable value and customs duty on an imported consignment.

Calculate contribution, profit-volume ratio, and profit under marginal costing.

Calculate break-even point, margin of safety, and sales required for a target profit.

Use relevant costs to decide a special order, make-or-buy choice, shutdown, or limiting-factor product mix.

Prepare functional budgets and a cash budget from operating assumptions.

Prepare a flexible budget and compare costs at different activity levels.

Calculate and interpret material cost, price, and usage variances.

Calculate and interpret labour cost, rate, and efficiency variances.

Calculate and interpret variable- and fixed-overhead variances.