If you’re preparing for the Intermediate level of CMA (ICMAI), knowing CMA Inter Group 2 Subjects 2025: Complete Syllabus & Tips inside-out will make a big difference. In this guide, you’ll get everything: a detailed subject list, topic-weightages, exam pattern, tips, common pitfalls, and preparation strategy. Whether you are wondering which papers, what topics, how to study, or what mistakes to avoid, this article has got you covered.
What is CMA Inter Group 2?
- CMA Intermediate is divided into two groups (Group I & Group II).
- Second Group consists of four papers, more advanced and application-oriented. Passing both groups is required for the CMA Intermediate qualification.
- For exam sessions from June 2025 / December 2025 onward, the syllabus in use is the 2022 syllabus issued by ICMAI.
List of CMA Inter Group 2 Subjects (Papers)
Here are the papers in CMA Inter Group 2:
Complete Syllabus: Topics & Structure
Below is the complete syllabus for all the papers in CMA Inter Group 2 subjects are according to ICMAI’s syllabus 2022, which you have to study for your exams in December 2025.
Paper 9: Operations Management & Strategic Management (OMSM)
Section A : Operations Management section includes:
- Introduction to Operations Management
- Operations Planning
- Designing of Operational Systems and Control
- Application of Operations Research: Production Planning and Control
- Productivity Management and Quality Management
- Project Management, Monitoring and Control
- Economics of Maintenance and Spares Management
Section B : Strategic Management section includes:
- Strategic Management Introduction
- Strategic Analysis and Strategic Planning
- Formulation and Implementation of Strategy
- Digital Strategy
Paper 10: Corporate Accounting & Auditing (CAA)
Section A : Corporate Accounting:
- Shares and Debentures accounting
- Statement of Profit & Loss, Balance Sheet (Companies Act Schedule III)
- Cash Flow Statement
- Accounts of Banking, Insurance, Electricity companies
- Accounting Standards
Section B : Auditing:
Paper 11: Financial Management & Business Data Analytics (FMDA)
Section A : Financial Management topics:
- Fundamentals of Financial Management
- Institutions & Instruments in Financial Markets
- Tools for Financial Analysis
- Sources of Finance & Cost of Capital
- Capital Budgeting
- Working Capital Management
- Financing Decision of a Firm
Section B: Business Data Analytics topics:
Paper 12: Management Accounting (MA)
Topics include:
- Introduction to Management Accounting
- Activity Based Costing (ABC)
- Decision Making Tools
- Standard Costing & Variance Analysis
- Forecasting, Budgeting & Budgetary Control
- Divisional Performance Measurement, Responsibility Accounting
- Responsibility Accounting
- Decision Theory
Exam Pattern & Passing Criteria
To succeed in CMA Inter Group 2, you must be clear on the exam pattern and what qualifies as a pass. Here are the official norms:
- Marks of all the subjects in CMA Inter Group 2 : 100 for each subject.
- Mode: ICMAI organizes the Intermediate Examination twice in a year ( June & December)
- Average passing percentage :You need 40% marks in every paper, and 50% aggregate marks for a particular.
- Type of questions of subjects in CMA Inter Group 2: Mixture of theoretical / descriptive + practical / problem-solving type; some objective or case-based questions may appear depending upon the paper.
Essential Points To Remember While Preparing For Group 2 CMA Inter Subjects
From studying existing guides, here are things many do not emphasise, but that are crucial for subjects in CMA Inter Group 2 :
- Latest Syllabus 2022 inclusion: Always follow ICMAI’s official website for the syllabus of CMA Inter Group 2 subjects.
- Weightage of Sections: While ICMAI shows the full list of the syllabus of along with the topics. Knowing weightage of every topic helps you prioritize each of them. That is why always utilize official study material to find topic-wise weight (e.g. how much in paper 10 is from Auditing vs. Corporate Accounting).
- Business Data Analytics Component: This is relatively new and many students underestimate it. In Paper 11, Data Analytics is not just a tiny add-on; it can make a difference. Be well prepared in data processes, presentation and basic analytical tools.
- Strategic Management has become more important: Many past guides skim over strategy formulation, implantation, monitoring. But ICMAI’s syllabus has increased focus here. So don’t leave strategic topics for last.
- Practical / Application portion and past year questions: Many guides ignore practicing past solved problems and case studies in Corporate Accounting & Auditing and Operations Management. These are important for scoring high.
- Revision across all CMA Inter Group 2 subjects : Some students tend to favour what they like (say accounting) and neglect management / auditing. That causes failure in Group 2 aggregate though their strong areas are good.
Tips To Master CMA Inter Group 2 Subjects
Here are tried-and-tested tips to help you master subjects in CMA Inter Group 2 and get through in 2025 with confidence:
- Start Early & Make a Study Plan
- Map out all 4 papers over at least 4-5 months if possible. Include buffer time for revision and mock tests.
- Pair theory with application: e.g. when you study Corporate Accounting, follow up quickly with Auditing problems. This helps retention.
- Map out all 4 papers over at least 4-5 months if possible. Include buffer time for revision and mock tests.
- Use ICMAI’s Official Study Material
- Focus on High-Weight Topics of CMA Inter Group 2 Subjects First
- From the syllabus, some topics like Capital Budgeting, Financial Management tools, Strategic Planning, Corporate Accounting (statements, AS), Variance Analysis etc. carry more marks. Prioritize your practice here.
- For example, in Paper 11, the Financial Management part has more weight than Data Analytics. If pressed for time, cover weaker parts later but don’t ignore them.
- From the syllabus, some topics like Capital Budgeting, Financial Management tools, Strategic Planning, Corporate Accounting (statements, AS), Variance Analysis etc. carry more marks. Prioritize your practice here.
- Practice Past Papers & Mock Tests
- Solve questions from previous sessions (June & December) for all 4 papers of Group 2. This reveals question patterns, recurring topics, style, difficulty.
- Practice mocks test papers of CA Inter Group 2 subjects under timed conditions. Time management helps, especially when combining descriptive + problem questions.
- Solve questions from previous sessions (June & December) for all 4 papers of Group 2. This reveals question patterns, recurring topics, style, difficulty.
- Make Short Notes & Formula Tricks for subjects in CMA Inter Group 2
- For quick revision, maintain concise notes especially formulas, Accounting Standards, Audit clauses, strategic management models (SWOT, PESTEL, Porter’s etc.), costing formulae, variance analysis etc.
- During the last 2-3 weeks before the exam, these notes will be lifesavers.
- For quick revision, maintain concise notes especially formulas, Accounting Standards, Audit clauses, strategic management models (SWOT, PESTEL, Porter’s etc.), costing formulae, variance analysis etc.
- Stay Updated with Amendments & Standards
- Audit & Accounting Standards evolve; laws or financial regulations might change. Regularly check ICMAI notifications.
- Tax laws may not directly come in Group 2 but auditing and corporate law amendments might matter in CAA paper.
- Audit & Accounting Standards evolve; laws or financial regulations might change. Regularly check ICMAI notifications.
- Strengthen Analytical & Presentation Skills
- In papers like FMDA, OMSM, you get analytic / strategic questions; being able to write clearly, structure answers, and support logic is important.
- Use diagrams, flowcharts (especially in strategic management), tables in auditing / corporate accounting to compare laws or standards.
- In papers like FMDA, OMSM, you get analytic / strategic questions; being able to write clearly, structure answers, and support logic is important.
- Revision & Balanced Coverage
- Don’t ignore weaker sections in group 2 cma inter subjects. Even if you love accounting, spend time on Management Accounting, Strategic Management etc.
- Allocate weekly slots for revision across all papers.
- Don’t ignore weaker sections in group 2 cma inter subjects. Even if you love accounting, spend time on Management Accounting, Strategic Management etc.
- Health, Routine & Mindset
- Balanced sleep, short breaks during study, avoid cramming at the last minute.
- Confidence matters: starting strong with low-weight, easier topics helps build momentum.
- Balanced sleep, short breaks during study, avoid cramming at the last minute.
Six Month Study Plan
Here’s a suggested timeline you can adapt. Useful especially if you’re starting 5-6 months ahead of the exam.
First Month CMA Inter Group 2 Subjects Preparations
- Read through the full syllabus
- Gather ICMAI texts related
- Start with Paper 10 (Corporate Accounting) & Paper 11 (Financial Management)
- Focus on conceptual clarity
Second Month Preparations For CMA Inter Group 2 Subjects
- Continue Business Data Analytics
- Begin with Paper 9 Operations Management
- Start Operations Research, Quality & Project Mgmt
Third Month Preparations For The Papers
- Complete OMSM & FMDA
- Start with Paper 12 Management Accounting
- Begin Paper 10’s Auditing section.
Fourth Month Preparation For Second Group CMA Intermediate
- Practice of past problems in Accounting & Auditing
- Start mock tests for Papers 9 & 10.
Fifth Month & Sixth Month Preparation
- Do full-length mock exams for all 4 papers
- Identify weak areas
- Solve last years’ questions
- Final revision of all formulas
FAQs
Q1: Can I give only Group 2 exams without clearing Group 1?
Yes. You can take either group separately or both together in one attempt. But to be certified CMA Inter, you must clear both groups.
Q2: What minimum marks are required to pass each paper / the group?
You need to score at least 40 % in each paper and an aggregate of 50 % when you give exam of an entire group
Q3: Do ICMAI make changes in the syllabus every year?
No. The last important change was in 2022. CMA Inter Second Group 2025 exams follow the 2022 syllabus. Unless ICMAI issues a notification, the same syllabus applies.
Q4: Are there negative marks for wrong answers?
No; there is no negative marking.
Q5: How to decide which papers among CMA Inter Group 2 subjects are tougher / which to start with?
Every student’s strengths differ. But generally:
- Paper 10 (Corporate Accounting & Auditing) has a heavy problem/practical load.
- Paper 11’s Financial Management section is technical.
- Paper 12 requires strong cost & decision skills.
Start with a mix: one challenging + one moderate paper so you stay motivated.
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