Welcome to your one-stop guide for the CMA Foundation exam! If you are starting your journey to become a Cost & Management Accountant (CMA), this page will give you everything you need to know – from eligibility and syllabus to study plans and resources.
What is CMA Foundation?
- CMA Foundation is the first level of the CMA (Cost & Management Accounting) course conducted by ICMAI (Institute of Cost Accountants of India).
- It is an entry-level exam for students who want to build a career in finance, accounting, taxation, auditing, and management.
- After clearing this level, you move to CMA Intermediate.
Eligibility
- Students from any stream (Arts/Commerce/Science) can apply.
- Must have passed Class 10 (Secondary School Exam) and be appearing/passed Class 12 or equivalent.
- No minimum marks required in 12th standard.
Exam Pattern (Latest)
- Mode: Online, Objective (MCQs)
- Duration: 3 hours per paper
- Total: 4 papers (100 marks each, 400 marks overall)
- Pass Requirement: 40% in each paper + 50% aggregate overall
Papers at a glance:
- Fundamentals of Business Laws and Business Communication (FBLC)
- Fundamentals of Financial and Cost Accounting (FFCA)
- Fundamentals of Business Mathematics and Statistics (FBMS)
- Fundamentals of Business Economics and Management (FBEM)
CMA Foundation Syllabus
Paper 1: Fundamentals of Business Laws & Business Communication
- Part A: Business Laws – Sources of Law, Indian Contract Act, Sale of Goods Act, Partnership, Negotiable Instruments, Company Law.
- Part B: Business Communication – Basics, Business Correspondence, Drafting, Essay/Precis writing.
Paper 2: Fundamentals of Financial and Cost Accounting
- Part A: Financial Accounting – Basics of Accounting, Journal/Ledger/Trial Balance, Final Accounts, Special Transactions.
- Part B: Cost Accounting – Introduction, Elements of Cost, Cost Sheet, Costing Methods, Marginal Costing.
Paper 3: Fundamentals of Business Mathematics and Statistics
- Part A: Mathematics – Ratio, Proportion, Interest, Algebra, Probability, Permutations & Combinations.
- Part B: Statistics – Data, Central Tendency, Dispersion, Correlation, Index Numbers, Time Series.
Paper 4: Fundamentals of Business Economics and Management
- Part A: Economics – Basic Concepts, Demand & Supply, Production & Costs, Market Structures, Pricing.
- Part B: Management – Principles, Functions, Planning, Organising, Leadership, Motivation, CSR.
Study Plan (30/60/90 Days)
🔹 90-Day Study Plan (Ideal for beginners)
- First 60 days → Cover all 4 subjects (basics + chapters).
- Next 20 days → Practice MCQs + Mock Tests.
- Last 10 days → Full revision & solve past papers.
🔹 60-Day Study Plan (For regular students)
- Cover 2 subjects at a time.
- Revise weekly, practice chapter-wise tests.
🔹 30-Day Crash Plan (For repeaters or last-minute prep)
- Focus on high-weightage topics.
- Practice mock papers daily.
Preparation Tips
- Start with Accounting & Law (these form the base).
- Use chapter-wise notes + MCQs for strong retention.
- Revise formulas daily (Maths & Stats).
- Attempt at least 3 full mock tests before exam day.
- Avoid selective study – every paper requires minimum 40%.
Final Words
CMA Foundation is not a very difficult exam, but it needs consistent practice & smart revision. With the right study plan, focus on MCQs, and regular mock tests, you can clear it in your first attempt.