CMA Final past papers, analysed

Corporate and Economic Laws (2 attempts)

• Accounts and Audit13%in 2/2
• Company Formation and Conversion9%in 2/2
• Corporate Governance and Social Responsibility and Sustainability9%in 2/2
• Board of Directors and Key Managerial Personnel8%in 2/2
• SEBI Laws and Regulations8%in 2/2
• Insolvency and Bankruptcy Code, 20167%in 2/2
• Compromises, Arrangements and Amalgamations6%in 2/2
• Laws and Regulations related to Cyber Security and Data Privacy6%in 2/2

Strategic Financial Management (2 attempts)

• Equity and Bond Valuation and Evaluation of Performance13%in 2/2
• Portfolio Performance Evaluation and Portfolio Revision11%in 2/2
• Evaluation of Risky Proposals for Investment Decisions9%in 2/2
• Foreign Exchange Market9%in 2/2
• Investment Decisions, Project Planning and Control7%in 2/2
• Options6%in 2/2
• Asset Pricing Theories5%in 2/2
• Leasing Decisions5%in 2/2

Direct Tax Laws and International Taxation (2 attempts)

• Transfer Pricing21%in 2/2
• Assessment of Individuals including Non-residents14%in 2/2
• Double Taxation Avoidance Agreements (DTAA)14%in 2/2
• Assessment of Companies11%in 2/2
• Business Restructuring8%in 2/2
• Assessment Procedure including Dispute Resolution Process7%in 2/2
• Income Computation and Disclosure Standards (ICDS)7%in 2/2
• Assessment of Trusts6%in 2/2

Strategic Cost Management (2 attempts)

• Variance Analyses14%in 2/2
• Decisions involving Alternative Choices9%in 2/2
• Linear Programming7%in 2/2
• Transfer Pricing (Cost Management)5%in 2/2
• Business Application of Maxima and Minima5%in 2/2
• Business Forecasting Models - Time Series and Regression Analysis5%in 2/2
• Relevant Cost Analysis5%in 1/2
• Target Costing4%in 2/2

Cost and Management Audit (2 attempts)

• Overview of Cost Accounting Standards and GACAP14%in 2/2
• Management Reporting Issues and Analysis11%in 2/2
• Preparation and Filing of Cost Audit Report8%in 2/2
• Companies (Cost Records and Audit) Rules, 20147%in 2/2
• Basics of Cost Audit7%in 2/2
• Anti-Money Laundering6%in 2/2
• Cost Auditor6%in 2/2
• Forensic Audit6%in 2/2

Corporate Financial Reporting (2 attempts)

• Accounting for Business Combination and Restructuring16%in 2/2
• Consolidated Financial Statements and Separate Financial Statements16%in 2/2
• Recent Developments in Financial Reporting14%in 2/2
• Government Accounting in India9%in 2/2
• Valuation of Shares (including Determination of Goodwill)8%in 2/2
• Accounting of Financial Instruments7%in 2/2
• Income Taxes (Ind AS 12)6%in 2/2
• Internal Reconstruction (Capital Reduction)6%in 2/2

Indirect Tax Laws and Practice (2 attempts)

• Supply under GST18%in 2/2
• Valuation under GST10%in 2/2
• Valuation and Related Party Transactions8%in 2/2
• Input Tax Credit8%in 2/2
• Export Promotion Schemes under Foreign Trade Policy7%in 2/2
• Dispute Resolution Mechanism under GST7%in 2/2
• GST Annual Return and GST Audit Return6%in 1/2
• Time of Supply4%in 1/2

Strategic Performance Management and Business Valuation (2 attempts)

• Performance Measurement, Evaluation and Improvement Tools34%in 2/2
• Valuation in Mergers and Acquisitions19%in 2/2
• Valuation of Assets and Liabilities14%in 2/2
• Business Valuation Methods and Approaches11%in 2/2
• Economic Efficiency of the Firm - Performance Analysis9%in 2/2
• Risk Management8%in 2/2
• Corporate Failure5%in 2/2
• Introduction to Performance Management1%in 1/2

Risk Management in Banking and Insurance (2 attempts)

• Managing Risk in Insurance Business15%in 2/2
• Management of Non-Performing Assets (NPAs)11%in 2/2
• Credit Risk Management10%in 2/2
• Introduction to Risk Management10%in 2/2
• Concept and Types of Health Insurance Policies10%in 2/2
• Sovereign Risk and Insolvency Risk8%in 2/2
• Operational Risk and Off-Balance Sheet Risk7%in 2/2
• Insurance Intermediaries7%in 2/2

Entrepreneurship and Startup (2 attempts)

• Idea to Action21%in 2/2
• Value Addition18%in 2/2
• Scalability, Scaling up and Stabilisation of Sustainable Business13%in 2/2
• Types of New Age Business13%in 2/2
• Leadership12%in 2/2
• The Entrepreneurial Ecosystem9%in 2/2
• Entrepreneurial Skill Sets7%in 2/2
• Risk Management Strategies7%in 2/2