CMA Final

In the present world, there are various forms of business organizations. “Company” is one such form of organization that is the current spotlight. The word “Company” was earlier termed as “Joint Stock Company”. The first legislative enactment was passed in the year 1850. After various deliberations, a new system Companies Act, 2013 was introduced to enable companies to achieve global competitiveness.  

Company law is the legislative enactment for the administration and regulation of Companies. In addition to Companies Act, 2013, other legislations also needs to be compiled based on applicability like SEBI regulations for listed companies, FEMA for trading with Foreign countries, IRDA for Insurance company, IBC, 2016 for Liquidation of companies, The Competition Act, 2002 for Merging or acquiring companies and The Banking Regulation Act, 1949 for Banking Companies.

Companies Act is the base for many other laws. It links and incorporates various acts, such as Labor laws, Income tax, Indirect tax laws etc. Hence having the knowledge and in-depth understanding of Corporate law and its legal provisions are very important for Cost Accountants.

To emphasize on good corporate governance, the law is made stricter and companies are expected to comply with the Act.  Good Corporate Governance ensures Accountability, Transparency, Disclosure and ethical practices. The syllabus for CMA Final includes Corporate Governance Concepts, Principles, and Practices in India expected to be complied by the companies.

In CMA Intermediate, you have learned about the company types, promotion and about the Board of Directors. At CMA Final, Company law gives you brief insights of Company formation, conversion, Investment and Loans, Dividends, Accounts and Audit, Directors & KMP, Board Meetings, Inspection, oppression, and mismanagement, Winding up and NCLT.

CMA Final Online video lectures of LearnCab have taken the effort to provide in-depth knowledge on the above areas including various legislations like SEBI, FEMA, Competition Act, etc as applicable to CMA Final syllabus.

CMA Final Online video lectures of LearnCab provides comprehensive lectures on:

• Companies Act, 2013 and Insolvency and Bankruptcy Code, 2016.
• SEBI laws and Regulation, The Competition Act, 2002 and its role in Corporate Governance, Foreign Exchange Management Act, 1999, Laws related to Banking Sector and Laws related to Insurance Sector.
• Corporate Governance and Social, Environmental and Economic Responsibilities of Business. Know More 

SFM may be a blend of Strategic Management and Financial Management. This paper helps you build the ability to apply financial management theories and techniques in strategic decision making.

A clear and realistic strategy in managing the finance for fulfilling the objective of the company and increase the wealth of stakeholders are the fundamentals of business.

In short Strategy + Finance +Management = Fundamentals of Business.

Study of Strategic Financial Management advises on investment opportunities and helps in making Financing decisions, Investment decisions, Dividend decisions, and Portfolio decisions.

CMA Final students are expected to be thorough in capital budgeting for giving better management decisions. It includes capital rationing, sensitivity analysis, leasing decisions, and sale and leaseback decisions etc.

Students should learn to identify and manage the risk associated with Finance i.e credit risk, insolvency risk, equity risk, currency risk, interest rate risk and foreign investment risk. Students should understand that better risk management techniques provide early warning signals that help companies address risk in time.

CMA Final Online video lectures of LearnCab introduces you to various foreign exchange accounts, forecasting future exchange rate, Capital Markets, Commodity exchange, Exchange rate theories, the risk involved in foreign rates and hedging of currency risk.

LearnCab also solves ample of problems and helps you solve the problems by applying theoretical knowledge.

CMA Final Online video lectures of LearnCab provides comprehensive lectures on-

• Investment Decisions, Project Planning and Control, Evaluation of Risky Proposals for Investment Decisions and Leasing Decisions.
• Institutions in Financial Markets, Instruments in Financial Markets, Capital Markets and Commodity Exchange.
• Security Analysis & Portfolio Management
• Financial Risks & Management, Financial Derivatives – Instruments for Risk Management and Financial Risk Management in International Operations. Know More

Professionals are expected to advise the business to keeps their costs low and improve the use of resources, increase revenue, analyze operations and suggest structural changes for the growth of the business.

The strategy creates value to respond to competitive challenges and build strong organizations. A good strategy helps optimum utilization of an organization’s material and human resources thereby achieving better financial performance and improved qualitative decisions.

In short, having a strategy to manage the cost, helps long term sustainability of organizations.

Strategic Cost Management – Decision Making subject enables students to understand the application of strategic cost management techniques like the Learning curve, Simulation, CPM/PERT in making business decisions.

CMA Final Online video lectures of LearnCab strives to develop skills of analysis, evaluation and synthesis in cost and management accounting. Online video lectures of LearnCab provide an in-depth discussion on costing systems and activity-based costing, activity management, and implementation issues in modern costing systems including the application of Operation Research in Strategic Decision Making.

CMA Final Online video lectures of LearnCab provides comprehensive lectures on-

• Cost Management – Life Cycle Costing, Business Process Re-engineering, Value Analysis, and Value Engineering, Cost Control and Cost Reduction.
• Strategic Cost Management Tools and Techniques – Decision-Making Techniques, Standard Costing in Profit Planning, Activity-Based Cost Management – JIT and ERP, Cost of Quality and Total Quality Management.
• Strategic Cost Management –Application of Operation Research and Statistical Tools and techniques in Strategic Decisions Making. Know More

Taxes are the greatest source of revenue for the Government. Various developments, activities, facilities, an expenditure of every other kind made by the Government for the welfare of the society is from the contribution of the people in the form of tax. Tax laws have been in existence from Kautilya’s ages. A share in the profit had to be contributed to the King and such contribution is termed as Tax in the current era. Later, the British also collected taxes on income.

After Independence, this tax law was freshly introduced through the Income Tax Act, 1961 for collecting and regulating tax laws. Direct Tax Laws is one of the dynamic subjects for professionals. At CMA Final level, this subject includes a study of Direct Tax Laws and International Taxation.

Direct Tax laws comprise of law and procedures under the Income-tax Act, 1961. The CMA Final students need to be aware of various provisions and tax implications on the income earned by individuals and in the hands of various entities including the case laws governing core provisions of the Act.

With the increased cross border transactions, the government has entered into tax treaties with various countries to avoid double taxation for a single transaction, hence knowledge of International Taxation is crucial. CMA Final students are expected to be well versed with International taxation to provide the correct advice and to ensure compliance with applicable law.

Direct tax laws undergo significant changes every year with the passing of the Finance Act. Students are expected to be updated with notifications, circulars, clarifications, and decisions pronounced by various courts.

CMA students should pay special attention to:

• Clubbed income (earned by spouse and child)
• Assessment of various entities (partnership, LLP, IFSC, Life insurance business, Business trust, company, MAT, AMT, SPV, AOP, BOI)
• Special rates applicable to companies and relevant surcharges
• Advance Ruling
• Business Restructuring
• Assessment procedure, settlement of Tax cases, Penalties and Penalties
• Taxation of non-resident, Double taxation and Avoidance Agreements
• Transfer Pricing
• Tax Planning and Tax Management

CMA Final students should be well versed with various exemptions, incentives, relief available to the taxpayers to guide clients in tax saving and tax planning.

CMA Final Online video lectures of LearnCab provides you a comprehensive study on –

• Advance Direct Tax Laws – Assessment of income and Computation of tax liability of Various Entities, Tax Management, Return and Assessment Procedure, Grievance Redressal, Penalties and Prosecutions, Business Restructuring, Different aspect of Tax planning, CBDT & Other Authorities, E-commerce Transaction and liability in special cases, Income Computation and Disclosure Standards (ICDS) and Black Money Act, 2015
• International Taxation – Double Taxation and Avoidance Agreements and Transfer Pricing
• Case Study analysis

Online video lectures of LearnCab solve major case studies that assist CMA Final students in solving problems in practical scenarios. Know More

Accounting is the vehicle for reporting financial information about a business entity to the stakeholders. The financials shall be prepared following Accounting Standards in convergence with IFRS. This ensures accuracy and adequate disclosures in the financial statement which helps in making financing and investment decisions.

Students are expected to be familiar with all the Accounting Standards for preparing the financial statements. Corporate Financial Reporting paper gives in-depth knowledge of Accounting Standards.

Financial Reporting process forms the theoretical basis for determining which events should be accounted for, how they ought to be measured and the way they ought to be communicated to the user.

Financial Reporting assists in preparing and interpreting the information contained in the financial statements in conformity with Ind AS. Financial Reporting helps to Analyze the impact of GAAP and its application for reporting and compliances.

CMA Final Online video lectures of LearnCab helps you understand the application of Accounting Standard in preparing Financial Statements and assist in evaluating financial statements for strategic decision-making. LearnCab also explains, Valuation of share, share-based payments, NBFC accounting and Government Accounting and Government Accounting Standards.

 CMA Final Online video lectures of LearnCab provides comprehensive lectures on-

• GAAP and Accounting Standards
• Accounting of Business Combinations and Restructuring
• Consolidated Financial Statements
• Recent Trends in Financial Reporting, Valuation, Accounting and Reporting of Financial Instruments and Others, Share-Based Payments and Reporting through XBRL.
• Government Accounting. Know More

Taxes are the best source of revenue for the govt. Various developments, activities, facilities, an expenditure of every other kind made by the Government for the welfare of the society is from the contribution of the people in the form of tax.

Indirect Tax Laws is one of the dynamic subjects for professionals. At CMA Final level, this subject includes an in-depth study of GST, Customs and FTP.

With GST, there has been a paradigm shift within the tax landscape of the country. GST aims to form India, a standard market with common tax rates and procedures and take away the economic barriers thus paving the way for an integrated economy at the national level. It follows the mechanism where tax is collected at every stage and the credit of tax paid at the previous stage is available as a set-off at the next stage of the transaction.

Being the newest enactment, GST law is coupled with its inherent dynamism, making the subject interesting and challenging. CMA Final students are expected to be updated with the practical aspects and complexities in GST and Custom laws which is much required in advising and recommending solutions in practical scenarios.

CMA students should pay special attention to:

• Place, time and value of supply
• Exemptions from GST, Reverse Charge
• ITC, E-way bill
• Import and Export under GST
• Assessment and Audit
• Demand and Recovery
• Advance Ruling
• Anti-profiteering
• Valuation under customs act, Duty drawback, Refund
• Warehousing, Baggage
• Schemes under FTP

CMA Final Online video lectures of LearnCab provides you a comprehensive study on –

• GST – An Introduction, Levy and Collection of Tax, Classification of Goods and Services, Supply under GST, Charge of GST, Exemptions from GST, Place of Supply, Time of Supply and Value of Supply, Input Tax Credit, Registration, Tax Invoice, Credit and Debit Notes, Accounts and Records; E-way Bill, Payment of Tax and Returns, TDS, TCS, Import And Export Under GST, Refund, Job Work, Assessment And Audit, Inspection, Search, Seizure And Arrest, Demands And Recovery, Liability to Pay Tax in Certain Cases, Offences And Penalties, Appeals And Revisions, Anti-profiteering.
• Customs – Levy of and Exemptions from Customs Duty, Types of Duty, Classification of Imported and Export Goods, Valuation under the Customs Act, 1962, Importation, Exportation and Transportation of Goods, Duty Drawback, Warehousing, Baggage, Refund, Search, Seizure, Confiscation, and Miscellaneous Provisions and Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017
• Foreign Trade Policy – Basic Concepts relating to Export Promotion Schemes under FTP.

Online video lectures of LearnCab solve major case studies that assist CMA Final students in solving problems in practical scenarios. Know More

Cost audit is “the verification of the correctness of cost accounts and thus the adherence to the worth accounting plan”. In short, Cost Audit is an audit of cost records, which is done only by Cost Accountants certified by ICAI (Cost Accountants).Cost Accountants conduct cost audit to verify whether cost records have been prepared and maintained as per accountancy Standards. Cost accountants need to conduct Audit as per Cost Auditing and Assurance Standards.

Cost Accounting Standards are guidelines for the companies that specify the cost accounting treatment for various cost elements, minimum disclosure requirements and ensure the comparability, consistency, and completeness of cost records.

Cost Accounting Standards are guidelines for the companies that specify the cost accounting treatment for various cost elements, minimum disclosure requirements and ensure the comparability, consistency, and completeness of cost records. Know More

Performance Management is that the process of identifying, measuring, managing and developing the performance of the human resources in a corporation. Performance appraisal is done to know how well employees perform and then to ultimately improve that performance level. Performance management focuses mainly on the achievement of results. Productivity and efficiency are given prime importance in Performance Management.

Financial productivity is identifying and improving the financial strengths and eliminating the weakness appearing in the balance sheet and profit and loss account of the firm.

Risk is perceived as the probable adverse impact of action i.e. probability of adverse impact of a threat and its impact of resource losses. In business, the risk may be Fraud risk, Reputation Risk, Compliance Risk, Market Risk, Legal Risk, Insolvency Risk, Credit Risk, Price fluctuation Risk, etc. Hence managing risk is very important in every company. Risk management is that the process of measuring or assessing risk and developing strategies to manage it. Better risk management techniques provide early warning signals that help companies address risk in time.

Business valuation is an activity conducted to estimate the fair market value of a business interest in the given point of time. Business Valuation is conducted at the time of the merger, amalgamation, acquisitions, IPO, shareholder’s dispute settlement, non-arm’s length transactions. The fundamental role of valuation is to offer a base for negotiation between buyer and seller.

CMA Final Online video lectures of LearnCab has made an effort to give the relevance of Performance Management in strategic decision-making and to evaluate the risks associated with strategies of an organization. It also explains various Business Valuation techniques and gives an overview of various Business Valuation models.

CMA Final Online video lectures of LearnCab provides comprehensive lectures on-

1. Strategic Performance Management – Conceptual Framework of Performance Management, Performance Evaluation & Improvement Tools, Economic Efficiency of the Firm, Performance Analysis and Enterprise Risk Management.
2. Business Valuation – Business Valuation Basics, Valuation Models, Valuation of Assets and Liabilities and Valuation in Mergers and Acquisitions. Know More