CS Professional CMADD study guide
CS Professional CMADD · Work through your exam, one topic at a time.
The CS Professional programme is the advanced stage of the Company Secretary qualification awarded by the Institute of Company Secretaries of India (ICSI). The CMADD module - Corporate and Management Accounting, Direct Tax Laws and Practice, Corporate Financial Reporting, Indirect Tax Laws and Practice, and Strategic Cost Management - sits at the intersection of accounting, tax and strategy. The CS Professional CMADD study guide has 5 sections and about 1,683 words.
01Corporate and Management Accounting
Corporate and Management Accounting asks you to build financial statements and then use cost data to decide. Expect computational items on final accounts, ratio analysis, cash flow statements, marginal costing, standard-cost variances and capital budgeting, plus theory on accounting standards and cost-control techniques.
342 words, about 2 min02Direct Tax Laws and Practice
Direct Tax Laws and Practice tests computation and procedure: residential status and scope of total income, heads of income, Chapter VI-A deductions, capital gains, presumptive schemes, TDS/TCS, advance tax, MAT and the concessional regimes, assessment and appeal timelines. Section 6: 182 days in the previous year, or 60 days plus 365 days in the preceding four years, makes a resident; the 60-day limb relaxes to 182 for citizens leaving for employment or as crew.
358 words, about 2 min03Corporate Financial Reporting
Corporate Financial Reporting tests Ind AS application, group reporting and disclosure: revenue, leases, financial instruments, consolidation, business combinations, impairment, EPS and the annual-report package including integrated reporting and XBRL. Ind AS 115: identify the contract, separate performance obligations, determine and allocate the transaction price, then recognise revenue when control transfers - at a point in time or over time.
329 words, about 2 min04Indirect Tax Laws and Practice
Indirect Tax Laws and Practice is GST-centric: charge, supply, place and time of supply, valuation, input tax credit, registration, invoicing, returns, refunds, demand and appeal procedure. Section 7 of the CGST Act defines supply; composite supplies are naturally bundled and taxed at the principal supply's rate, mixed supplies at the highest rate.
326 words, about 2 min05Strategic Cost Management
Strategic Cost Management moves beyond cost ascertainment to decision support: activity-based costing, target and life-cycle costing, the value chain, cost of quality, throughput and theory of constraints, transfer pricing and performance measurement. ABC assigns overheads through activities and cost drivers such as setups, orders and inspections; it exposes cross-subsidy that volume-based absorption conceals.
328 words, about 2 min