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THE INSTITUTE OF COST ACCOUNTANTS OF INDIA(Statutory body under an Act of Parliament)
Headquarters: CMA Bhawan, 12, Sudder Street, Kolkata - 700 016Phone: +91-33-2252-1031/34/35/1602/1492/1619/7373/7143
Delhi office: CMA Bhawan, 3, Institutional Area, Lodhi Road, New Delhi - 110 003Phone: +91-11-2462-2156/2157/2158
Behind every successful business decision, there is always a CMABehind every successful business decision, there is always a CMA
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CMA STUDENTS’CMA STUDENTS’
FOUNDATIONFOUNDATION
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E- BULLETINE- BULLETIN
VOL: 3, No.: 1VOL: 3, No.: 1January, 2018 ISSUEJanuary, 2018 ISSUE
Knowledge Update -
Message from the Chairman -
Paper: 1, Part: I - Fundamentals of Economics and Management (FEM) - Economics -
Paper: 1, Part: II - Fundamentals of Economics and Management (FEM) - Management -
Paper: 2 - Fundamentals of Accounting (FOA) -
Paper: 3 - Fundamentals of Laws and Ethics (FLE) -
Paper: 4 - Fundamentals of Business Mathematicsand Statistics (FMS) -
Practical Advice -
Message from the Directorate of Studies -
Photo Gallery -
Model Career Planer -
Knowledge Update -
om the Chairman -
Paper: 1, Part: I - Fundamentals of Economics and Management (FEM) - Economics -
Paper: 1, Part: II - Fundamentals of Economics and Management (FEM) - Management -
Paper: 2 - Fundamentals of Accounting (FOA) -
Paper: 3 - Fundamentals of Laws and Ethics (FLE) -
Paper: 4 - Fundamentals of Business Mathematicsand Statistics (FMS) -
Advice -
om the Directorate of Studies -
Photo Gallery -
Model Career Planereer Planereer - Planer - Planer
Submissions -
1
i
2
5
10
14
19
31
26
32
33
34
Behind every successful business decision, there is always a CMA
ContentsContents
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Message from theMessage from the ChairmanChairman
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Behind every successful business decision, there is always a CMA
CMA Manas Kumar Thakur
Be a CMA, be a Proud IndianBe a CMA, be a Proud Indian
Chairman,Training & Education Facilities (T& EF) Committee
Dear Students,
A very Happy, Healthy & Prosperous New Year. Believe in yourself and
hope you achieve everything in this year.
“Excellence is not a skill, it is an attitude”. Education provides knowledge,
knowledge gives power, power gives respect and finally, respect provides the ultimate
happiness. So, all the qualities are bonded in chain and until and unless you are
acquiring real knowledge, you are not been able to reach to your destination and cannot enjoy your life fully.
There might be mistakes but I believe in that mistakes are proof that you are trying. Do it now, sometimes later
becomes never. 'Minds are like parachutes they only function when they are open'.
“Learning is not child's play; we cannot learn without pain” as told by Aristotle.” You are
receiving your study related input on each subject and these are given by academicians of repute. My suggestion
to all of you is; be serious and read all the topics meticulously. Mock Test Papers (MTPs) are also uploaded by the
Directorate of Studies to help you to get acquainted with the pattern of questions you may face in your
examination. I believe that all of you are equally capable to get success in the examination provided you prepare
sincerely and pay needed attention towards the resources being provided by the Directorate of Studies. “The
future belongs to those who believe in the beauty of their dreams”.
May this year illuminate your life in your own ways and being an optimist take the resolution of delivering your
best and put your mark in the 'Make in India' movement.
Wishing you Goodluck and Happiness,
ThakurThakur
it is an attitude”. Education provides
gives respect and finally, respect provides
qualities are bonded in chain and until and unless
are not been able to reach to your destination
believe in that mistakes are proof that you
like parachutes they only function only function only when
play; we cannot learn without pain”
input on each subject and these are given by academicians
read all the topics meticulously. Mock Test Papers
you to get acquainted with the pattern
of you are equally capable to get success in the
attention towards the resources being provided
who believe in the beauty of their of their of dreams”.
life in your own ways and being an optimist
'Make in India' movement.
and Happiness,
i
Behind every successful business decision, there is always a CMA
!! Happy New Year !!
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Behind every successful business decision, there is always a CMA
upDAtEKNOWLEDGE
In this section of e-bulletin we shall have a series of discussion on each of these chapters to provide a meaningful assistance to the students in preparing themselves for the examination at the short end and equip them with sufficient knowledge to deal with real life complications at the long end.
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
1
Paper : 1, Part : - IPaper : 1, Part : - I
Fundamentals of Economics & Management (FEM) - EconomicsFundamentals of Economics & Management - (FEM) Economics
Dr. Bibekananda RaychaudhiriProfessor, Guest LecturerDepartment of Commerce / FinanceUniversity of CalcuttaHe can be reached at:[email protected]
YourPreparationQuickTakes
YourPreparationQuickTakes
A Fundamentals of Economics 50%B Fundamentals of Management 50%
B 50%
A 50%
Behind every successful business decision, there is always a CMA
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
2
Learning Objectives:
Studying economics, one will be able to develop the analytical skills needed to work successfully in the field, including the study of logical analysis.
Students will be able to identify and explain economic concepts and theories related to the behaviour of economic agents, markets, industry and firm structures, legal institutions, social norms, and government policies.
Students will be able to integrate theoretical knowledge with quantitative and qualitative evidence in order to explain past economic events and to formulate predictions on future ones.
Students will be able to evaluate the consequences of economic activities and institutions for individual and social welfare.
Behind every successful business decision, there is always a CMA
preferences of the consumer. So, the inverse relationship of
price and demand is very much dependent on the constancy of
other things. Therefore, it is very important to keep in mind
not to forget this constancy condition while explaining the law
of demand and/or drawing the demand curve, though the
demand curve indicates ex-ante demand or planned demand
and not the actual demand.
Elasticity of demand is the most powerful tool to analyse the
theory of demand. There are three types of elasticity of
demand: price elasticity of demand, income elasticity of
demand and cross elasticity of demand.
Price elasticity of demand = - [ % change in demand / %
change in price ]
Income elasticity of demand = % change in demand / %
change in income
Cross elasticity of demand = % change in demand / % change
in the price of related commodities (ie, either substitutes or
complements)
With the help of these three elasticity concepts, it is possible to
know the nature of the commodity.
If the price elasticity of demand is positive, the commodity is a
nomal one. But if the price elasticity of demand is negative, the
commodity is a giffen good which violates the law of demand.
If the income elasticity of demand is positive, the commodity
is a superior good. But if the income elasticity of demand is
negative, the commodity is an inferior good.
If the cross elasticity of demand is positive, the commodity is a
substitute good. But if the cross elasticity of demand is
negative, the commodity is a complementary good.
Keep in mind that the slope of the demand curve is inversely
related to the price elasticity of demand.
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
demand curve indicates
and not the actual
Elasticity of demand
theory of dema
demand: price
demand and cross
Price elasticity of
change in price ]
Income elasticity
change change in in incomeincome
Cross elasticity of
in the price of related
complements)
With the help of these
know the nature
If the price elasticity
nomal one. But if
commodity is a giffen
If the income elasticity of demand is positive, the commodity
3
ECONOMICS
Study Note – 2 deals with Theory of Demand and Supply.
Demand and Supply are the two opposing forces that operate
in any market and interact with each other to determine the
equilibrium market price. Understanding Market is very
important for the “CAPITALISTIC” economy as it is also called
“Market economy”.
Demanders and suppliers are completely different groups of
people. On most occasions they do not even know each other.
For example, Amul butter is being produced in Gujrat state
and the producer does not know that I am consuming Amul
butter in Kolkata. So, Demand and Supply are being
determined by different set of factors. Demanders plan out
their demand at home. They do not know how much is being
supplied till they reach the market. Suppliers, on the other
hand, produce their product in their factories. They never
know how much will be demanded till they reach the market.
The only link between supply and demand is the price of the
product. If the market price rises, the product must be in short
supply. So, the suppliers might plan out a higher level of
production. Higher market price means higher profit and this
acts as an impetus for the suppliers to supply more. But the
demanders find the product costlier and reduce their demand
for the product. If the market price falls, it will be an indication
of a lack of demand. Suppliers will revise their plan to produce
less. Demanders, on the other hand, might capitalise the
situation to purchase more. Thus the two market forces –
supply and demand interact with each other to reach an
equilibrium position where the supplied amount will be
exactly equal to the amount demanded. The corresponding
price is called the equilibrium price for which supply will be
exactly equal to demand.
Law of demand states that demand for a product and its price
will be inversely related provided all other things are held
constant. Other things include income of the consumer, price
of its substitutes, price of its complements and taste &
Behind every successful business decision, there is always a CMA
Theory of supply starts with the supply function. Supply
function states that the supply of a product and its price are
directly related provided all other things are held constant.
Other things include prices of inputs, technology, weather
condition, govt. Policy, expected future price, number of firms
in the market, goals of the firm etc.
Demand curve is the diagrammatic presentation of the
relationship between demand and price. Of course it is a
downward inclined curve to the right. Any movement along
the curve will indicate a change in demand due to a change in
price, while price is the only independent variable. However,
if there is any change in any of the parameters like income of
the consumer or price of the substitutes or price of the
complements or taste & preference of the consumer, there will
be a shift of the demand curve indicating a change in demand.
Similarly, supply curve is the diagrammatic presentation of
the relationship between supply and price. It is an upward
rising curve to the right. Any movement along the curve will
indicate a change in supply due to a change in price, while
price is the only independent variable. However, if there is any
change in any of the parameters like price of the inputs, or
technology, or weather condition, or govt. Policy, or expected
future price, or number of firms, or goal of the firm, there will
be a shift of the supply curve indicating a change in supply.
A straight line demand curve will have different price
elasticities of demand at different points on the demand curve.
The mid-point of the straight line demand curve will have
price elasticity equal to unity. The point of intersection
between the straight line demand curve and the abscissa will
have price elasticity equal to zero. The point of intersection
between the straight line demand curve and the ordinate will
have price elasticity equal to infinity. All points on the lower
segment of the straight line demand curve will have price
elasticity less than unity and all points on the upper segment of
the straight line demand curve will have price elasticity more
than unity.
A straight line supply curve will have price elasticity equal to
unity if the supply curve passes through the origin. If the
straight line supply curve possesses positive intercept, the
price elasticity for such a supply curve will be greater than
unity. But if the straight line supply curve possesses negative
intercept, the price elasticity for such a supply curve will be
less than unity. If the straight line supply curve is parallel to
the x-axis, the price elasticity will be infinity. If the straight line
supply curve is perpendicular on the x-axis then the price
elasticity of such a supply curve will be zero.
It will be helpful if you can brush up your knowledge on 'the
straight line' chapter from any standard text book on co-
ordinate geometry. Since elasticity is a very important
concept, a thorough knowledge of straight line will help you to
master this concept in no time. Go through your study
material carefully and try to answer the MCQ questions given
for practice.
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
the consumer, there will
indicating a change in demand.
diagrammatic presentation of
and price. It is an upward
movement along the curve will
a change in price, while
variable. However, if there is any
like price of the inputs, or
govt. Policy, or expected
goal of the firm, there will
indicating a change in supply.
l have difffff efef rent pprice
points on the demand curve.
demand curve will have
unity. But if the
intercept, the price
less than unity. If
the x-axis, the price
supply curve is
elasticity of such
It will be helpful
straight line' chapter
ordinate geome
concept, a thorough
master this con
material carefully carefully
for practice.
4
YourPreparationQuickTakes
YourPreparationQuickTakes
Behind every successful business decision, there is always a CMA
Paper : 1, Part : - IIPaper : 1, Part : - II
Fundamentals of Economics & Management (FEM) - ManagementFundamentals of Economics & Management - (FEM) Management
CMA (Dr.) Sumita ChakrabortyJt. Director, StudiesShe can be reached at:[email protected]
A Fundamentals of Economics 50%B Fundamentals of Management 50%
B 50%
A 50%
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
5
Learning Objectives:
Students will demonstrate their knowledge of business and management principles
Students will reveal effective written and oral communication
Students will exhibit an awareness of the global environment in which businesses operate
Students will display the ability to recognize when change is needed, adapt to change as it occurs, and lead
change
Behind every successful business decision, there is always a CMA
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
6
MANAGEMENT
In the previous issue, we had discussed about Management Concepts. Now we are discussing about pattern of questions,
which will help you to answer on the topic in your examination.
1. The process of assigning work to others and giving them authority to do is:
(a) Control
(b) Organising
(c) Power
(d) Delegation of Authority.
2. The process of delegation involves the following steps:
(a) Determination of results expected
(b) Assignment of duties
(c) Granting of Authority
(d) All of the above.
3. Delegation enables a manager to obtain the specialized knowledge and expertise of ----------
(a) Superior
(b) Subordinates
(c) Peers
(d) None of the above.
4. Quick decision making is possible in case of :
(a) Centralisation
(b) Decentralisation
(c) Delegation
(d) Both (b) and ©
5. Authority and ------------ should be co-extensive:
(a) Power
(b) Responsibility
(c) Accountability
(d) Command.
6. --------------- is wide delegation of Authority:
(a) Centralisation
(b) Decentralisation
(c) Span of control
Behind every successful business decision, there is always a CMA
(d) Scalar chain.
7. In delegation, control rests entirely with:
(a) Subordinate
(b) Superior
(c) Top level
(d) Middle level.
8. Authority should ----------------with responsibility:
(a) Commensurate
(b) Parity
(c) (c) More than
(d) None of the above.
9. -----------is a philosophy of management:
(a) Delegation
(b) Decentralisation
(c) C0 Centralisation
(d) All of the above.
10. ---------helps to avoid overlapping effort and duplication of work:
(a).Co-ordination
(b) Centralisation
(c) Decentralisation
(d).Delegation of Authority.
11. A teacher has ------------power over students:
(a) Reward power
(b) Referent power
(c) Expert power
(d) Coercive power.
12. Responsibility can be assigned to:
(a) Human beings
(b) Non-living objects
(c) Both (a) and (b)
(d) None of the above.
13. ------------is derived from position:
(a) Accountability
(b)Power
(c) Authority
(d) None of the above.
14. The relationship between two individuals; one superior and the other subordinate is called as:
(a) Power
(b) Authority
(c) Control
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
-----------is a philosophy of management:
---------helps to avoid overlapping effort and duplication of work:
11. A teacher has ------------power over students:
12. Responsibility can be assigned to:
13. ------------is derived from position:
7
Behind every successful business decision, there is always a CMA
(d) All of the above.
15. Subordinate is always responsible to his:
(a) Peers
(b) Foremen
(c) Management
(d) Superior.
Answers:
1. (d).
2. (d).
3. (b).
4. (d).
5. (b).
6. (b).
7. (b).
8. (a).
9. (b).
10. (b).
11. (c).
12. (a).
13. (c).
14. (b).
15. (d).
Match the following:
Answer:
1. G
2. A
3. F
4. D
5. B
6. C
7. E
Column I Column II
1 Teacher A Ability to do something
2 Power B Technique to define responsibility
3 Authority C Recognition and status
4 Delegation of Authority D Superior and Subordinate
5 Responsibility Charting E Flows upward
6 Non-financial rewards F Right to do something
7 Responsibility G Example to expert power
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Column I
A Ability to do something
B Technique to define responsibility
C Recognition and status
Delegation of Authority D Superior and Subordinate
Responsibility Charting E Flows upward
Non-financial rewards F Right to do something
8
Behind every successful business decision, there is always a CMA
State; True or False:
1. Responsibility is absolute and can be delegated.
2. A superior is always responsible to his subordinate.
3. Referent power is derived from the formal position of a person in the organization.
4. The term power is often considered as synonymous to Responsibility.
5. The authority given to a position is legal and legitimate.
Answer:
1. False
2. False
3. False
4. False
5. True.
Fill in the blanks:
1. A ----------------is a nice way of summarizing the relationship between tasks and actors.
2. ----------------refers to the ability to influence the behaviour or attitudes of other individuals.
3. -----------is an important technique that can supplement the use of responsibility charting.
4. Responsibility can be assigned to ------------only.
5. The authority enjoyed by a position is not-------------.
Answer:
1. Responsibility charting
2. Power
3. Role negotiation
4. Human beings
5. Unlimited.
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
A ----------------is a nice way of summarizing the relationship between tasks and actors.
----------------refers to the ability to influence the behaviour or attitudes of other individuals.
-----------is an important technique that can supplement the use of responsibility charting.
Responsibility can be assigned to ------------only.
The authority enjoyed by a position is not-------------.
Responsibility charting
9
YourPreparationQuickTakes
YourPreparationQuickTakes
Behind every successful business decision, there is always a CMA
B 20%
A 80%
A Fundamentals of Financial Accounting 80%
B Fundamental of Accounting 20%
Paper : 2Paper : 2
Fundamentals of Accounting (FOA)Fundamentals of Accounting (FOA)
CMA (Dr.) Nibir GoswamiAssociate Professor in CommerceVidyasagar Mahavidyalaya, W.B.He can be reached at:[email protected]
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
10
Learning Objectives:
In order to internalize the concepts of subjects like accountancy one has to have an understanding of the learning objectives of the chapters. Try to go through the Statement of Objects and Reasons issued for every topics as it would give you a background to your study.
Behind every successful business decision, there is always a CMA
In simple terms it is actually a written
commitment by the buyer to the seller to pay the
amount due at a particular due date. Therefore
the features of Bills of exchange are:
1. It must be in writing
2. It must be signed by the maker(buyer)
3. It must be an unconditional order to pay
4. The maker must direct a certain person to pay a
certain sum of money.
The parties involved to a bill of exchange are
1. The drawer – the seller
2. The drawee – the maker of the bill who commits
payment by accepting (signing on bill)
3. The endorsee – to whom the bill is endorsed to
settle his dues
4. The holder – any person who holds the bill for the
time being with the entitlement of such
possession (generally the drawer)
5. The payee – who finally receives the sum of
money.(generally the drawer)
PROCESS OF DRAWING THE BILL:
Say Mr A sold goods to Mr B. in credit for Rs. 50000. Now
A draws the bill on B and B accepts and signs on it to
commit such obligation or liability to pay Rs.50000 on the
due date. Now A is the holder of the bill till due date and he
is the payee at the due date if the bill is honoured.
To A it is Bills Receivable and to B it is Bills Payable.
Between the dates of drawing and maturity A may do the
following things
1. May go to bank and get the bill discounted i.e
exchange the bill in terms of cash before due date.
In that case bank is the holder now and bank will
be payee in due date.
2. May settle his dues to his creditor by giving this
bill. Say A gives this bill to Mr C. In that case C is
the holder now. He is called endorsee and C will be
payee in due date
COMPUTATION OF DUE DATE:
Due date is the date when the bill is supposed to be paid on
presentation for payment. It is customary to allow some
days of grace (normally 3 days) to the drawee. Therefore
while calculating the date of maturity three more days are
added. For example if a bill is drawn on 1.1.2018 for 3
months the due date will be 4.4.2018. If the bill is 'after
sight' bill the date of maturity will be calculated from the
date of acceptance and if the bill is 'after date' the due date
will be calculated from the date of drawing.
ILLUSTRATION :
On 1.4.2017 A draws a bill on B for Rs.100000 3 months
after date. B accepts the bills signs on it and returns to A.
Pass necessary journal entries in the books of A and B in
each of the following cases:
1. The bill is hold by A till maturity
2. The bill is discounted with bank on 4.4.2017 at a
discount of 6 % p.a
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
tually a written
the seller to pay the
due date. Therefore
exchange are:
maker(buyer)
unconditional order to pay
certain person to pay a
exchange are
The drawee – the maker of the bill who commits
(signing on bill)
the bill is endorsed to
who holds the bill for the
ntitlement of such
drawer)
receives the sum of
drawer)
Between the dates
following things
1. May go
exchange
In that case bank is the holder now and bank will
be payee
2. May settle
bill. Say
the holder
payee in
COMPUTATION
Due date is the date
presentation for
days of grace (normally
while calculating
added. For example
months the due
sight' bill the date
date of acceptance
will be calculated
11
INTRODUCTION:
Bill of exchange is a negotiable instrument and transactions are dealt with the provisions of Negotiable
Instruments Act. Section 5 of this act defines Bill of exchange as “ A bill of exchange is an instrument in
writing containing an unconditional order signed by the maker directing a certain person to pay a certain
sum of money only to or to the order of a certain person or to the bearer of the instrument”
BILL OF EXCHANGE
Behind every successful business decision, there is always a CMA
3. The bill is endorsed to C to make a final settlement of a due of Rs.105000 on 1.4.2017
SOLUTION :
Working notes :
1. The bill is discounted with bank for 6% p.a . so the amount of discount will be
100000 x 6/100 x 3/12 = 6000 x 3/12 = 1500.
Calculation is made for 3 months because the bill is for three months and is discounted with the bank exactly before three
months before maturity.
2. Amount due to C was for Rs. 105000. However the bill is given for Rs.100000 to make full and final settlement.
Therefore Mr. A has received Rs.5000 as discount.
Important: Students must not confuse with discount received and discount on bills.
JOURNAL
BOOKS OF A BOOKS OF B
DATE PARTICULARS DEBIT CREDIT DATE PARTICULARS DEBIT CREDIT
1.4.2017 Billls Receivable 100000 1.4.2017 A 100000
To B 100000 To Bills Payable 100000
(for the bill drawn) (for the bill drawn)
Situation 1 Situation 1
4.7.2017 Cash 100000 4.7.2017 Bills payable 100000
To Billls
Receivable
100000 To Cash 100000
Amount received
at maturity
Amount paid at
maturity
Situation 2 Situation 2
4.4.2017 Bank 98500
NO ENTRY IS REQUIRED
Discount on bill 1500
To Bills receivable 100000
Bill discounted
with bank
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
JOURNAL
BOOKS OF A
DEBIT CREDIT DATE PARTICULARS
100000 1.4.2017 A
100000 To Bills Payable
(for the bill drawn)
Situation 1
100000 4.7.2017 Bills payable
100000 To Cash
Amount paid at
maturity
Situation 2
98500
12
Behind every successful business decision, there is always a CMA
Situation 3 Situation 3
DATE PARTICULARS DEBIT CREDIT DATE PARTICULARS DEBIT CREDIT
1.4.2017 C 105000
NO ENTRY IS REQUIRED
T0 Bills
Receivable
100000
To Discount
received
5000
The bill is
endorsed to C
AT MATURITY
Situation 2 Situation 2
4.7.2017 NO ENTRY 4.7.2017 Bills payable 100000
To bank 100000
Amount paid at
maturity
Situation 3 Situation 3
NO ENTRY 4.7.2017 Bills payable 100000
To bank 100000
Amount paid at
maturity
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
AT MATURITY
Situation 2
4.7.2017 Bills payable
To bank
Amount paid at
maturity
Situation 3
4.7.2017 Bills payable
To bank
Amount paid at
maturity
13
YourPreparationQuickTakes
YourPreparationQuickTakes
Behind every successful business decision, there is always a CMA
Paper : 3Paper : 3
Fundamentals of Laws and Ethics (FLE)Fundamentals of Laws and Ethics (FLE)
CMA (Dr.) Sumita ChakrabortyJt. Director, StudiesShe can be reached at:[email protected]
A Fundamentals of Commercial Laws 70%
B Fundamentals of Ethics 30%
B 30%
A 70%
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
14
Behind every successful business decision, there is always a CMA
Learning Objectives:
Read the Study Material minutely.
For details or if you don't understand Study Material or the section is important to identify the topic, then refer to Bare
Act, otherwise reference to Bare Act is not necessary. For Company Law, book by Avtar Singh is recommended. For
other laws Institute Study Material is sufficient.
The words used in any of the texts as mentioned above should be understood by immediate reference to the Dictionary.
The main points coming out in any of the provisions should be either underlined or written in separate copy which has to
be repeated again and again.
Theoretical knowledge should be adequate and clear before solving practical problems.
Don't write wrong English. It changes the meaning and therefore answer may be wrong even when the student's
conception is clear. Also don't make spelling mistakes.
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
15
LAW
In previous issues; we had discussed on 'Ethics', hence, please find below pattern of questions which you may find useful for
your practice purpose:
Multiple Choice Questions:
1. Business ethics calls for avoidance of:
(a) Competition
(b) Publicity
(c) Monopoly
(d) Self interest.
2. Ethics has evolved with evolution of:
(a) Culture
(b) Value
(c) Moral
(d) Society.
3. Ethics is a set of --------of human conduct that govern the behaviour of individuals or organizations:
(a) Principles
(b) Standards
(c) Principles or standards
(d) None of the above.
4. Law is-----------of ethics:
(a) No connection
(b) Decodification
(c) Codification
(d) Visualisation.
5. The study of Ethics is divided into--------operational areas:
(a) Six
(b) Four
(c) Five
Behind every successful business decision, there is always a CMA
(d) Nine.
6. Business ethics has a ----------application:
(a) Universal
(b) Natural
(c) Practical
(d) None of the above.
7. Ethics in compliance means:
(a)It is about obeying and adhering to rules and authority
(b) It deals with the moral principles behind the operation and regulation of marketing
(c) It deals with the duties of a company to ensure that products and production processes do not cause harm
(d) None of the above.
8. Business ethics is based on well accepted---------:
(a) Moral and social values
(b) Social values only
(c) Moral values only
(d) None of the above.
9. Ethical and unethical behaviours are determined by:
(a) The individual
(b) The culture
(c) Both the individual and the culture
(d) Neither the individual nor the culture.
10. Which of the following is not a code of conduct?
(a) Code of ethics
(b) Code of practices
(c) Code of behaviour
(d) Code of management.
11. -------------made it important for business to have an ethics code, something in writing about what one ought to do and
what to strive for:
(a) The Ethics & Code Conduct Act, 2000
(b) The Sarbanes Ethics of Code of Conduct Act,2001
(c) The Sarbanes Oxley Act, 2002
(d) None of the above.
12. An expert who is confidentially available to solve the ethical dilemmas is known as:
(a) Ethic coach
(b) Ethics trainer
(c) Ethics guide
(d) None of the above.
13. Business ethics relates to:
(a) Society's decisions
(b) An individual's or work group's decisions
(c) Customer's decisions
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
behaviours are determined by:
the culture
nor the culture.
code of conduct?
for business to have an ethics code, something
Conduct Act, 2000
Code of Conduct Act,2001
2002
confidentially available to solve the ethical dilemmas is known
16
Behind every successful business decision, there is always a CMA
(d) Government decisions.
14. Which of the following statements about business ethics is true?
(a) It concerns the impact of a business activities on society
(b) It refers to principles and standards that determine acceptable behaviour in the world of business
(c) It relates to an individual's values and moral standards and the resulting business decisions he or she makes
(d) What is ethical is determined by the public, government regulators, interest groups, competitors and individual's
personal moral values.
15. Which of the following is an unethical business practice?
(a) Collusion
(b) False Communication
(c) Insider trading
(d) All the above.
Answer:
1. (c)
2. (d)
3. (c)
4. (c)
5. (b)
6. (a)
7. (a)
8. (a)
9. (c)
10. (d)
11. (c)
12. (a)
13. (b)
14. (b)
15. (d).
Fill in the blanks:
i. Law is --------of ethics
ii. Ethics is also known as -------------philosophy
iii. Business ethics is also called as-------------
iv. Ethics has evolved with evolution of ------------
v. The study of ethics is divided into-------------operational areas.
Answer:
(i) Codification
(ii) Moral
(iii) Corporate ethics
(iv) Society
(v) Four.
Define, in just a sentence, the following:�A. Three C's of Business Ethics
B. Professional Ethics
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
ethics
as -------------philosophy
also called as-------------
with evolution of ------------
divided into-------------operational areas.
17
Behind every successful business decision, there is always a CMA
Column I Column II
1 Value free A Taking decisions solely in terms of Public interest
2 Selflessness B Wertfrei
3 Honesty C Not placing under any financial obligations
4 Integrity D Appionting, awarding contracts on merit
5 Objectivity E Declaring private interest relating to their public duties
6 Character F Personal Attribute
7 Ethikos G Character
C. Meaning of Morals
D. Value free Ethics
E. Meaning of Ethics.
Answer:A. Compensation, Competency & Character are the three C's of Business Ethics.
B. Just as a society functions on the social codes of conduct and a country is governed by its constitution,
a business is run on corporate codes, thus, there is a professional code of conduct for any business.
These codes keep evolving as other things around evolve and develop. Therefore, not only should
business be defined within the confines of ethics but it should be practised strictly under its own
professional code of conduct. This distinction helps to orient the general principles of ethics and
business to a particular activity.
C. Moral is concerned with the principles of right and wrong behaviour.
D. It would seem that business is an ethically neutral or value-free activity. The only value business is
concerned with is the monetary value. It is not in the interest of business to mix ethical values.
Business should be kept free from other social relationships and obligations. The only successful
relationship that exists in business is that of a vendor and a customer.
E. Ethics is also known as moral philosophy. This is a branch of philosophy that involves systemizing,
defending and recommending concepts of right and wrong conduct.
Match the statement under ColumnI with the appropriate statement under ColumnII:
Answer:
1. B
2. A
3. E
4. C
5. D
6. F
7. G
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STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Column I
A Taking decisions solely in terms of Public interest
B Wertfrei
C Not placing under any financial obligations
D Appionting, awarding contracts on merit
E Declaring private interest relating to their public duties
F Personal Attribute
G Character
business is an ethically neutral or value-free
monetary value. It is not in the interest
kept free from other social relationships
in business is that of a vendor and a customer.
moral philosophy. This is a branch of philosophy
recommending concepts of right and wrong conduct.
ColumnI with the appropriate statement under
18
YourPreparationQuickTakes
YourPreparationQuickTakes
Behind every successful business decision, there is always a CMA
Paper : 4Paper : 4
Fundamentals of BusinessMathematics and Statistics (FBMS) Fundamentals of Business Mathematics and Statistics (FBMS)
A Fundamentals of Business Mathematics 40%
B Fundamentals of Business Statistic 60%
B 60%
A 40%
CMA Ankan K BandyopadhyayaHe can be reached at:[email protected]
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
19
Behind every successful business decision, there is always a CMA
What has actually happened?
What is to be estimated?
What is to be estimated?
Learning Objectives:
The central objective of Statistics is to equip students with consequently requisite quantitative skills that they can employ
and build on in flexible ways.
Statistics help to design data collection plans, analyze data appropriately and interpret and draw conclusions from
those analyses.
To provide students with the idea of statistical calculations which promotes the efficient functioning of commerce
and industry;
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
20
STATISTICS
In this issue we will discuss preliminaries on Regression.
Professional Business decisions are based on predictions of future events. To have this predictions mangers have to rely on the relationship between what is already known and what is to be estimated. Knowledge on Regression and Co-relation helps managers in this regard. i.e.
1. Is there any relationship between the yellow and green box? 2. If there is relationship what is that? 3. How much is the strength of the relationship?
Knowledge of Regression & Correlation answers these questions. Regression gives the answers of the first
two questions and Correlation gives the answer of the last one.
Through regression analysis we, business managers, predict variable in green box, called dependent variable on the basis of
another variable in yellow box, called independent variable.
In this analysis we develop “Regression Equation” which relates independent variables with dependent variables.
If Regression equation relates one dependent variable with one independent variable, then Regression is called Simple
Regression.
If Regression equation relates one dependent variable with more than one independent variable, then Regression is called
Multivariate Regression.
Relationship observed by regression is only the relationship of association of variables but not necessarily of cause and effect.
Behind every successful business decision, there is always a CMA
Sale of Petrol may have direct relationship with the sale of petrol cars but positive growth of economy actually causes increases
the demand of petrol and car.
Relationship between variable can be of different types:
Regression line is the equation that relates the two variables mathematically. Regression line showing linear relationship
between two variables is of the form:
Y=a+bX Independent Variable
Dependent Variable
a is called Y axis intercept or Y-intercept or simply intercept, b is the slope of the line. n no of items
a, b are found out by the method of least squares and the required formulae are:
are the mean of respective series.
Illustration:
Using the data in the table below:
XY nXYb & a Y bX
2 2X nX
X &Y
X 20 11 15 10 19 21
Y 5 15 14 17 10 11
that relates the two variables mathematically. mathematically. Regression Regression
Independent Variable
Variable
Y-intercept or simply intercept, b is the slope of the line.
least squares and the required formulae are:
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
21
Behind every successful business decision, there is always a CMA
i) Fit the regression line;
ii) Predict Y for X = 12;
Answer
So
= (-) 86/112 = (-) 0.768
So
So the regression line is Y = 24.288 - 0.768 X
If X =12 then Y = 24.288 – 0.768 * 12 = 15.072
The Standard error of Estimate:
To measure the reliability of the regression equation a measuring parameter named Standard error of Estimate is to be used. The
formula for finding
Larger the Standard error of estimate, the greater the scattering of points around the regression line. If 0 then all the given
values of Y will lie exactly on the regression line for the given values of X.
For the observed points assuming normally distributed around the regression line we can expect
i) 68% of the points within
ii) 95.5% of the points within ;
iii) 99.7% of the points within ;
Illustration:
A study by the Atlanta, Georgia, Department of Transportation on the effect of bus ticket prices upon the number of passengers
No of Items X Y XY 2X
1 20 5 100 400
2 11 15 165 121
3 15 14 210 225
4 10 17 170 100
5 19 10 190 361
6 21 11 231 441
Σ 96 72 1066 1648
= 96/6 = 16 = 72/6 = 12X Y
2 2X (16) 256
XY nXYb (1066 6 16 12) (1648 6 256)
22X nX
a Y bX 12 ( )0.768 16 24.288
2Y a Y b XY
sen 2
es
1s ;e2se3se
0.768 X
= 15.072
Estimate:
regression equation a measuring parameter named
estimate, the greater the scattering of points around the
regression line for the given values of X.
21 11
96 72
= 96/6 = 16 = 72/6 = 12Y
12) (1648 6 256)
288
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
22
+-+-+-
=
Behind every successful business decision, there is always a CMA
produced the following results:
i) Develop the regression equation;
ii) Determine Standard Error of Estimate;
iii) Interpret the result;
Answer
So
= (-) 2.765
So
So
Interpretation:
i) 68% of the points within
ii) 95.5% of the points within
ii) 99.7% of the points within
There are two types of indication on Regression equations:
i) Regression equation of Y on X, where Y is the dependent variable and X is the independent one. Equation is of the form
Y= a + bX discussed above.
ii) Regression equation of X on Y, where X is the dependent variable and Y is the independent one. Equation is of the form
X = a + bY
For the first case (already discussed) and the second case the related formulae are given below for convenience:
Ticket price (cents) 15 20 25 30 40 50
Passengers per 100 Miles 440 430 450 370 340 370
No Ticket Price (cents) (X) Passenger/100 miles (Y) XY 2X 2Y
1 15 440 6600 225 193600
2 20 430 8600 400 184900
3 25 450 11250 625 202500
4 30 370 11100 900 136900
5 40 340 13600 1600 115600
6 50 370 18500 2500 136900
Σ 180 2400 69650 6250 970400
XY nXYb (69650 6 30 400) (6250 6 900)
22X nX
a Y bX 400 ( )2.765 30 482.95 2
Y a Y b XYs 31.237e
n 2
1s i.e. 31.237;e 2s i.e. 62.474;e 3s i.e. 93.711;e
430
450
370
340
370
2400
400)) ((6250 6 900))
82.95
37
i.e. 31.237;e 2s i.e. 62.474;e 3s i.e. 93.711;e
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
23
+-+-+-
Behind every successful business decision, there is always a CMA
Regression equations can also be written with the help of Regression Coefficients also:
Illustration:
From the following data obtain the two regression equations:
Answer:
Y = a+ bX X = a + bY
XY nXYbyx 2 2
X nX
XY nXYbxy 2 2
Y Y
a Y bX a X bY
2Y a Y b XY
sen 2
2X a X b XY
sen 2
= Regression coeeficient = Regression coeeficient
Form of Regression line(Y on X) from Regression
Coefficient:
Form of Regression line (X on Y) from Regression
Coefficient:
byx bxy
Y Y b (X X)yx X X b (Y Y)xy
(X X)(Y Y)byx 2
(X X)
(X X)(Y Y)bxy 2
(Y Y)
Sales 91 97 108 121 67 124 51 73 111 57
Purchase 71 75 69 97 70 91 39 61 80 47
Sales (X) Purchase (Y)
91 1 1 71 1 1 1
97 7 49 75 5 25 35
108 18 324 69 -1 1 18
121 31 961 97 27 729 837
67 -23 529 70 0 0 0
124 34 1156 91 21 441 714
51 -39 1521 39 -31 961 1209
73 -17 289 61 -9 81 153
111 21 441 80 10 100 210
(X X) 2(X X) (Y Y) 2
(Y Y) (X X)(Y Y)
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
two regression equations:
Regression coeeficient =
Form of Regression line(Y on X) from Regression Form of Regression line (X on Y) from Regression
Coefficient:
= b = xy = xy =
X) X X
Y)
2
bxy
97 108 121 67 124
75 69 97 70 91
Purchase (Y)
1 71 1
49 75 5
324 69 -1
961 97 27
2(X X) (Y Y)
24
Behind every successful business decision, there is always a CMA
Suggestions:
This study note need to be read thoroughly. Supplementary readings could be made from other resources. This issue is based onStatistics for Management by Richard I Levin & Statistics- Theory, Methods & Application by Sancheti & Kapoor. Attempts here are made to discuss the topic as an aid to the guidance already given in the study guide. This writing is for updating knowledge and could be used as supplement to the study guide. Few examples on objective parts on this portion along with detail discussions on Co-relation will be made in next issue.Students should go thoroughly for clear conception on the subject Guide book on the paper 4- Fundamental of Business mathematics and Statistics written and issued by Institute on Syllabus -16.
57 -33 1089 47 -23 529 759
Σ 0 6360 0 2868 3900
X YX 900 10 90,Y 700 10 70
10 10
(X X)(Y Y)So b 3900 6360 0.613yx 2
(X X)
(X X)(Y Y)So b 3900 2868 1.36xy 2
(Y Y)
So Re gression equationsare :
i) YonX : Y Y b (X X)yx
Or, Y 70 0.613(X 90)
Or, Y 0.613X 14.83
So Re gres
sion equations are :
ii) X on Y : X X b (Y Y)xy
Or, X 90 1.36(Y 70)
Or, X 1.36Y 5.2
to be read thoroughly. Supplementary This issue is based onStatistics for Management
Theory, Methods & Application by Sancheti the topic as an aid to the guidance already
updating knowledge and could be used on objective parts on this portion along made in next issue.Studentstst shouldbjbjb ect Guide book on the papapa er 4-
Statistics written and issued by Institute on
!! Happy New Year !!
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
25
Behind every successful business decision, there is always a CMA
Model Career Planer
(Here is a Model Career Planner that charts out the details of Mr. Anan, an illustrative character of Cost Manger. Adopt it for
yourself and Plan ahead.)
A. The Person
J. R. D. Tata was born on 29 July 1904. As his mother was French, he spent much of his childhood in France and as a
result French happened to be his first language.
He joined Tata Sons as an unpaid apprentice in 1925. In 1938, at the age of 34, JRD was elected Chairman of Tata Sons
making him the head of the largest industrial group in India. He founded India's first commercial airline, Tata Airlines in
1932, which became Air India in 1946, now India's national airline. Under his chairmanship, the assets of the Tata Group
grew from US$ 100 million to over US$ 5 billion. He started with 14 enterprises under his leadership and half a century
later on 26 July 1988, when he left, Tata Sons was a conglomerate of 95 enterprises.
JRD Tata firmly believed in employee welfare and espoused the principles of an eight-hour working day, free medical
aid, workers' provident scheme, and workmen's accident compensation schemes,which were later, adopted as statutory
requirements in India.
JRD Tata received a number of awards. In 1992, because of his selfless humanitarian endeavours, JRD Tata was
awarded India's highest civilian honour, the Bharat Ratna
1 Name Anan
2 Gender Male
3 Date of Birth 02.07.1990
4 Address Cost Bhavan Apartments, Pandey Layout,
Khamla, Nagpur – 440 025, India
5 Contact Number +91 (712) xxxx736
6 Email [email protected]
7 Marital Status
8 Domicile India
9 Language Skills
Can Speak
Can Write
Can Understand
Marathi, Hindi, English, French, Tamil
Marathi, Hindi, English, French
Marathi, Hindi, English, French, Tamil, Telugu
10 Role Model J R D Tata
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
J. R. D. Tata was born on 29 July 1904. As his mother was French, he spent much of his childhood in France and as a
happened to be his first language.
apprentice in 1925. In 1938, at the age of 34, JRD
industrial group in India. He founded India's first
Cost Bhavan Apartments,
Khamla, Nagpur – 440 025, India
+91 (712) xxxx736
India
Can Speak
Can Write
Can Understand
Marathi, Hindi, English, French, Tamil
Marathi, Hindi, English,
Marathi, Hindi, English, French, Tamil, Telugu
J R D Tata
26
Behind every successful business decision, there is always a CMA
B. The Family
C. Qualification
D. Experience
1 Father Name
Occupation
Nayan
Farming
2 Mother Name
Occupation
Mahima
House Wife
1 Graduation
Year
Stream
Percentage
June 2007
Science
72
2 Post Graduation
Year
Stream
Percentage
June 2009
Management
85
3 Professional
Year
Course
Stream
Percentage
December 2009
ICMAI
Cost Management
68
1 Employer
Position
Job Description
Period
Earnings p.m. in Rs.
MA & Co, Cost Accountants
Trainee
Verification of Cost Accounts
Compilation of Cost Statements
Appraisal of Enterprise Performance
April 2010 to March 2012 (Two Years)
Rs.6,000/-
2 Employer
Position
Job Description
Period in Years
Earnings p.m. in Rs.
MA Limited; Manufacturers of ABC Power Cables;
Annual turn over: 750 crores
Performance Analyst
Compilation of Daily Performance Report
Analysis of Monthly Performance &
Financial Statements
Fund flow Reports
July 2012 onwards…. (Nearly 4 years)
Rs. 43,000/
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Year
Stream
Percentage
June 2009
Management
85
Year
Course
Stream
Percentage
December 2009
ICMAI
Cost Management
68
MA & Co, Cost Accountants
Trainee
Verification of
Compilation of
Appraisal of Enterprise
April 2010 to March 2012
Rs.6,000/-
MA Limited; Manufacturers of ABC Power Cables;
Annual turn over: 750 crores
Performance Analyst
27
Behind every successful business decision, there is always a CMA
E. Perception
F. SWOT Matrix
1 Life Style Leads the life of a semi rich urban Hindu vegetarian; Intends to be richer
Lives in an air-conditioned bed room in a two-room rented apartment; Intends
to own an air conditioned three room apartment
Commutes by a two-wheeler; intends to own a four-wheeler
Works six days a week; Intends to have five days a week
. Goes for monthly outings; Intends to go for weekly outings
Observation: In order to catch up with my intended lifestyle, the current carrier path needs an upliftment.
2 (a) Likes Appreciation of my work by seniors
Ethical and supportive work culture
Exposure to new avenues
. Incentives and Promotions
2 (b) Dislikes Being bossed over
Interference from colleagues in my work
Working on holidays
. Monotonous work
Observation: The only limitation in my current job is that of 'Working on holidays'
3 Passion Acquiring additional professional knowledge
Reading and writing articles on professional matters
Training juniors
. Developing social contacts
Observation: All the items keep recurring in my present job.
4 Aspirations To be regarded as a Cost Manager of par excellence during the next ten years
To be a National Council Member of my profession during the next fifteen years
. To become a role model professional by the next twenty years
Strengths Professional Knowledge
Work acumen
Positive thinking
Local domicile
Courage & Discipline
. Proximity to the top management
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
. Incentives and Promotions
Being bossed over
Interference from colleagues in my work
Working on holidays. Monotonous work
: The only limitation in my current job is that of 'Working on holidays'
Acquiring additional professional knowledge
Reading and writing articles on professional
Training juniors. Developing social contacts
: All the items keep recurring in my present job.
To be regarded as a Cost Manager of par excellence
To be a National Council Member of my profession . To become a role model professional by the next twenty years
Professional Knowledge
Work acumen
28
Behind every successful business decision, there is always a CMA
G. Self Evaluation
H. Career Goals
2 Weaknesses Goes too far for perfection
Short Temperament
Tends to conform to the wishes of seniors
Overconfidence at times
. Inadequate public speaking skills
3 Opportunities Increasing demand for cost managers
. Better Prospects within the organization
4
Threats . Aging parents
5 Observations To focus on improvement of soft skills and overcome
the weaknesses during the next two years
. To work out a solution for properrelocation of
parents as per their convenience
Serial Item Max. Score Assessed Score Rating
1 Looks
a Appearance 9 7 Fair
b Attire 8 6 Fair
c Confidence 8 6 Fair
d Sub Total 25 19 Fair
1 Ten Years hence
Position
Financial
Family
Social
General Manager (Cost Management)
Rs.25 lakhs per annum in Nagpur
One kid
Office Bearer of XXX Club
2 Five Years hence
Position
Financial
Family
Social
Manager (Cost Management)
Rs.12 lakhs per annum in Nagpur
Buying a four-wheeler
Active Member of XXX Club
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
improvement
the weaknesses during
. To work out a solution for properrelocation of
parents as per their convenience
Item Max. Score
9
8
8
25
Position
Financial
Family
General Manager (Cost
Rs.25 lakhs per annum
One kid
29
Behind every successful business decision, there is always a CMA
I. PunchCaution
3 Two Years hence
Position
Financial
Family
Social
Manager (Cost Management)
Rs.8 lakhs per annum in Nagpur
Buying three room apartment; Relocation of parents to
Nagpur
Member of XXX Club
4 One Year hence
Position
Financial
Family
Social
Dy. Manager (Cost Management)
Rs.6 lakhs per annum in Nagpur
Marry a working girl from Nagpur
Net working for more professional friends
Needs adequate care and caution about cunning peers in the accounts and production departments
Date:xx / xx / 2018 Signature: - - - -
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
Needs adequate care and caution about cunning peers in the accounts and production departments
Signature: - - - -
30
PracticalADVICE
Prac�cal support, informa�on and advice to help youget the most out of your studies.
ABOUT YOUR STUDIES - FOUNDATION COURSEABOUT YOUR STUDIES - FOUNDATION COURSE
Behind every successful business decision, there is always a CMA
Assess Yourself
Appear For Examination
Solve Excercises given in Study Note
Read The Tips
Read Study Notes & MTPs
1
2
3
4
5
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
31
Dear Students,
We are very much delighted to receive responses from all of you; for whom our effort is!We have noted your queries and your requests will definitely be carried out. Further, requesting you to go through the current edition of the bulletin. All the areas will be covered gradually. Expecting your responses further to serve you better as we believe that there is no end of excellence! One of the mails received is acknowledged below.
I am CMA Vijay Pal Singh and I am a regular reader of e‐bulletin which is being published every month and uploaded in our Institutes website for students. During my studies I always studied and referred Students Newsletter that helped me a lot to update my self and keep on doing value addition.
CMA Vijay Pal Singh
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Send your Feedback to:e-mail: [email protected]
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All rights reserved. No part of this Bulletin may be translated or copied in any form or by any means without the prior written permission of the Institute of Cost Accountants of India.
to receive responses from all of you; for whom and your requests will definitely be carried
current edition of the bulletin. All the areas further to serve you better as we believe received is acknowledged below.
tin tin which which During During mmupdaupdatte e mm
Numbers bulk mail/SMS
logging
everything
Behind every successful business decision, there is always a CMA
SubmissionSubmission
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and and and InsInsslesle
Address/Mobile:update
missed id/
option.
that
Send your Feedback to:e-mail: [email protected]
and and and I I I am am am a a a rrregular egular egular rreader eader of of e‐bullee‐bulletin tin InsInstituttitutes es wwebebsitsite e ffor or sstudentudents. ts. During During slesletttter er thathat t helped helped me me a a lot lot tto o updaupda
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missed as the same are sent through bulk id/ Mobile Number instantly after
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32
Dear Students,
We have stepped into 2018 and with new enthusiasm for the future to come, it is also a time to reflect on the year
gone by and the beautiful moments shared with all. Express your gratitude and spare your thoughts for all who
have supported you and remember to make a new year resolution to do much better in every sphere of your life.
‘Learn from yesterday, Live for today, Hope for tomorrow’
For the smooth and flawless preparation. Directorate of Studies have provided meaningful tips which will help
you to gain sufficient knowledge about each subject.“Tips” are given in this E-bulletin by the knowledge experts
for the smooth encouragement in you preparation. We are sure that all students will definitely be benefitted by
those tips and that will help them to brush up their knowledge and also to swim across.
Take the course seriously from the very beginning but don’t be panicky. Please try to follow the general
guidelines, mentioned below; which may help you in your preparation.
Essentials for Preparation:
Conceptual understanding & Overall understanding of the subject both should be clear.
Candidates are advised to go through the study material provided by the Institute in an analytical
manner.
Students Should improve basic understanding of the subject with focus on core concepts.
The Candidates are expected to give to the point answer, which is a basic pre-requisite for any
professional examination.
To strengthen the answers candidates are advised to give answer precisely and in a structured manner.
In-depth knowledge about specific terms required.
Write question numbers correctly and prominently.
Proper time management is also important while answering.
Be Prepared and Get Success;
Message from theMessage from the Directorate of StudiesDirectorate of Studies
Behind every successful business decision, there is always a CMA
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
33
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Photo GalleryPhoto Gallery
Behind every successful business decision, there is always a CMA
STUDENTS’ E-bulletin JANUARY 2018, ISSUE Foundation
VOL: 3, No.: 1
34
CMA Sanjay Gupta, President of the Institute
met Shri Piyush Goyal, Minister of Railways and
Coal and discussed the Railways Project and
Enhanced role of CMA's in Railways and Coal
Sector.
CMA Sanjay Gupta, President, The Institute of
Cost Accountants of India presenting Guidance
Note by the Institute on Anti Profiteering to Shri
Arun Jaitley, Hon'ble Minister of Finance and
Corporate Affairs.
CMA Sanjay Gupta, President, The Institute of
Cost Accountants of India extending New Year
greetings with Shri Suresh Chandra, Secretary
to the Government of India, Ministry of Law &
Justice.
CMA Sanjay Gupta, President, The Institute of
Cost Accountants of India extending New Year
greetings with Shri Injeti Srinivas, Secretary to
the Government of India, Ministry of Corporate
Affairs.Justice. Affairs.Justice.Justice. Affairs.
Glimpse of the meeting held on 14.01.2018 at the HQ in connection with the preparation of
work book for students’ ,by the Directorate of Studies.
!! Happy New Year !!
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA(Statutory body under an Act of Parliament)
Headquarters: CMA Bhawan, 12, Sudder Street, Kolkata - 700 016Phone: +91-33-2252-1031/34/35/1602/1492/1619/7373/7143
Delhi office: CMA Bhawan, 3, Institutional Area, Lodhi Road, New Delhi - 110 003Phone: +91-11-2462-2156/2157/2158
Behind every successful business decision, there is always a CMABehind every successful business decision, there is always a CMA
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