CMA Clarification on Conversion to Syllabus 2012 and Corresponding Exemption, Clarification for December 2015 term of Examination. Hi Friends ICMAI Issued New Announcement for Clarification on Conversion to Syllabus 2012. Here we are providing complete details related to CMA Syllabus 2012 Conversion. In this article you can find all details related to CWA/CMA Conversion to Syllabus 2012 like – How to convert from syllabus 2008 to Syllabus 2012, Exemptions Under Syllabus 2012 – Intermediate, Group-wise Exemption, Paper-wise Exemption,Exemption for Various Qualifications, Exemption to ICSI passed candidates, Exemption to the Institute of Cost Accountants of India passed candidates. We also provide complete details for Conversion to Syllabus 2012 from 2002 via 2008 in our Next Article. Now you can scroll down below and check complete details regarding CMA Clarification on Conversion to Syllabus 2012.
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CMA Clarification on Conversion to Syllabus 2012
This is issued to clarify for all concerned on the procedure for Conversion to syllabus 2012 and corresponding exemption. Considering the status of students pursing the CMA Course at Intermediate and Final Levels, A classification is made as follows
| Category | Reference |
| (A) Students registered under “Syllabus 2008” on or after 1.1.2008 and pursued the Course under “Syllabus 2008” | Detailed guidelines already made available in the website of the Institute w.e.f. September,2013, titled “Exemptions under Syllabus 2012”. (Annexure 1) Check Out to download all Annexure |
| (B) Students registered under “Syllabus 2002”, qualified in either of the stage at Intermediate/Final level, then pursued the Course and appeared in Examinations under “Syllabus 2008”, but being unsuccessful would be pursuing under “Syllabus 2012” | Detailed guidelines now uploaded for clarity and ease of understanding (Annexure 2) |
| (C) Students registered in any Syllabus prior to “Syllabus 2002” | Detailed clarification provided for ease of understanding (Annexure 3) |
All concerned are requested to make appropriate advisory and guide students in accordance. Requested to post your queries studies@icmai.in for any further clarification.
Conversion from Syllabus 2008 to Syllabus 2012
Exemptions Under Syllabus 2012 – Intermediate
(1)Students who are presently pursuing Intermediate Course under Syllabus 2008, having qualified either of the Groups in Intermediate Course under Syllabus 2008, upon opting to switch-over to Syllabus 2012 shall be granted Exemptions as under:
Group-wise Exemption :
| Under Syllabus 2008 | Under Syllabus 2012 | |
| Exempted from | To complete Intermediate Course, shall have to appear and qualify in | |
| Qualified Group I of the Intermediate Course | Exempted from appearing in Group I of the Intermediate Course G | Group II of the Intermediate Course |
| Qualified Group II of the Intermediate Course | Exempted from appearing in Group II of the Intermediate Course | Group I of the Intermediate Course |
(2)Students who are presently pursuing Intermediate Course under Syllabus 2008, having passed Subject(s) under Syllabus 2008, upon opting to switch-over to Syllabus 2012, and if otherwise eligible as per rules of the Institute, can now avail exemption for the immediate next three terms in the following Subject(s):
Paper-wise Exemption
| Secured/obtained at least 60% marks in any subject under “Syllabus 2008” | Exempted from appearing in the corresponding/equivalent subject under “Syllabus 2012” | Validity period for availing the benefit of exemption |
| Paper 5 – Financial Accounting of Group I | Paper 5 – Financial Accounting of Group I | Until the completion of three consecutive terms from the end of the term in which such qualifying marks was secured/obtained by the said student. Example: a. If the student has obtained 60% marks in Paper 5- Financial Accounting under Syllabus 2008 in December 2012 examination.. b. Subsequently, the said student appeared in June 2013 examination, but failed to complete/qualify Group I under Syllabus 2008. . c. The said student now opts for pursuing the Course under Syllabus 2012. In such a case, the validity period for allowing this exemption shall remain valid until June 2014 . d. Assuming the student fails to clear/qualify Group I under Syllabus 2012, even in June 2014, then he/she shall have to appear in Paper 5- Financial Accounting under Syllabus 2012, as the validity of three consecutive terms has expired in June 2014.[ Here, 3 consecutive terms are – June 2013, December 2013, June 2014] |
| Paper 6 – Commercial & Industrial Laws & Auditing of Group I | Paper 6 – Laws, Ethics & Governance of Group I | |
| Paper 7 – Applied Direct Taxation of | Paper 7 – Direct Taxation of Group I | |
| Paper 8 – Cost & Management Accounting of Group II | Paper 8 – Cost Accounting & Financial Management of Group I | |
| Paper 9 – Operations Management & Information System of Group II | Paper 9 – Operations Management & Information System of Group II | |
| Paper 10 – Applied Indirect Taxation of Group II | Paper 11 – Applied Indirect Taxation of Group II | |
| Note: (i) If any student obtains qualifying marks under Syllabus 2008 in the last term of that Syllabus 2008, i.e. June 2015, then the benefit of availing the exemption shall continue under Syllabus 2012 for the next three consecutive terms, i.e. December 2015, June 2016 and December 2016. | ||
| (ii) NO CORRESPONDING EXEMPTION IS GRANTED FOR THE FOLLOWING SUBJECTS UNDER SYLLABUS 2012 Paper 10: Cost & Management Accountancy of Group II Paper 12: Company Accounts & Audit of Group II |
Exemptions Under Syllabus 2012 – Final
(3)Students who are presently pursuing Final Course under Syllabus 2008, having qualified either of the Groups in Final Course under Syllabus 2008, upon opting to switch-over to Syllabus 2012 shall be granted Exemptions as under:
| Under Syllabus 2008 | Under Syllabus 2012 | |
| Exempted from | To be declared as Final Complete Pass, shall have to appear and qualify in | |
| Qualified Group III of the Final Course | Exempted from appearing in Group III of the Final Course | Group IV of the Final Course |
| Qualified in Group IV of the Final Course | Exempted from appearing in Group IV of the Final Course | Group III of the Final Course |
(4)Students who are presently pursuing Final Course under Syllabus 2008, having passed Subject(s) under Syllabus 2008, upon opting to switch-over to Syllabus 2012, and if otherwise eligible as per rules of the Institute, can now avail exemption for the immediate next three terms in the following Subject(s):
Subject-wise Exemptions:
| Obtained/secured/awarded marks to avail Exemption ( for three consecutive terms only in the immediately succeeding 3 terms of Examinations) under Syllabus 2008 | If now opts for switchover from Syllabus 2008 to Syllabus 2012 – will be eligible to avail exemption in the corresponding paper under Syllabus 2012 |
| Paper 11 – Capital Market Analysis & Corporate Laws | Paper 13 – Corporate Laws & Compliance (CLC) |
| Paper 12 – Financial Management & International Finance | Paper 14 – Advanced Financial Management(AFM) |
| Paper 13 – Management Accounting : Strategic Management | Paper 15 – Business Strategy & Strategic Cost Management (BSCM) |
| Paper 14 – Indirect & Direct Tax Management | Paper 16 – Tax Management & Practice (TMP) |
| Paper 15 – Management Accounting : Enterprise Performance Management | Paper 17 – Strategic Performance Management (SPM) |
| Paper 16 – Advanced Financial Accounting & Reporting | Paper 18 – Corporate Financial Reporting (CFR) |
| Paper 17 – Cost Audit & Operational Audit | Paper 17 – Cost Audit & Operational Audit |
| Paper 18 – Business Valuation Management | Paper 20 – Financial Analysis & Business Valuation (FABV) |
Exemption for Various Qualifications
Qualification-based RECIPROCAL EXEMPTION SCHEME under Syllabus 2012 between the Institute of Cost Accountants of India and the Institute of Company Secretaries of India
| Exemption to ICSI passed candidates from papers of the Institute of Cost Accountants of India | Exemption to the Institute of Cost Accountants of India passed candidates from papers of ICSI |
| Foundation course Full exemption | Foundation Program-Full exemption |
| Intermediate course | Executive Programme |
| Group 1, Paper 7 : Direct Taxation | Module 1, Paper 2: Cost and Management Accounting |
| Group 1, Paper 8: Cost Accounting and Financial Management | Module 1, Paper 4: Tax Laws and Practice |
| Group 2, Paper 12: Company Accounts and Audit | Module 2, Paper 5 : Company Accounts and Auditing Practices |
| Final Course | Professional Programme |
| Group 3 Paper 13: Corporate Laws & Compliance | Module 1, Paper 1: Advanced Company Law & Practice |
| Group 3 Paper 14:Advanced Financial Management | Module 2, Paper 5 : Financial, Treasury and Forex Management |
| Group 3, Paper 16: Tax Management and Practice | Module 3, Paper 7 : Advanced Tax Laws and Practice |
Further, the subject exemption fee for each paper is fixed at Rs.1,000/- (Rupees One Thousand only )
ICSI- qualification based exemption granted and availed under Syllabus 2008 now opts to pursue the Course under Syllabus 2012
Click Here to Check Complete details for Conversion to Syllabus 2012 from 2002 via 2008