Cost Accountants are in great demand in government sector, private sector, banking & finance sector, developmental agencies, education, training & research sector as well as in service and public utility sector. Further, in view of their specialized knowledge and training, CMAs may hold top management position in public and private sectors’ enterprises like Chairman cum Managing Directors, Managing Director, Finance Director, Financial Controller, Chief Financial Officer, Cost Controller, Marketing Manager and Chief Internal Auditor and other important positions. If you like this article then please like us on Facebook so that you can get our updates in future ……….and subscribe to our mailing list ” freely
CMA Foundation Fundamentals of Laws and Ethics Syllabus
Indian Contracts Act, 1872
(a) Essential elements of a contract, offer and acceptance(b) Void and voidable agreements(c) Consideration, legality of object and consideration(d) Capacity of Parties, free consent(e) Quasi-contracts, Contingent contracts(f) Performance of contracts(g) Discharge of contracts(h) Breach of Contract and Remedies for Breach of Contract
Sale of Goods Act, 1930
(a) Definition(b) Transfer of ownership(c) Conditions and Warranties(d) Performance of the Contract of Sale(e) Rights of Unpaid Vendor(f) Auction Sales
3. Negotiable Instruments Act, 1881
(a) Negotiable Instruments–Characteristics of Negotiable Instruments(b) Definitions of Promissory Note, Bill of Exchange and Cheque(c) Difference between Promissory Note, Bill of Exchange and Cheque(d) Crossing – Meaning, Definition and Types of Crossing.
4. Ethics and Business
(a) Ethics – Meaning, Importance(b) The “Seven Principles of Public Life” – Selflessness, Integrity, Objectivity, Accountability, Openness, Honesty and Leadership(c) The relationship between Ethics and Law(d) Ethics in Business
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