ICWA Foundation Books:

The Course Institute of Cost & Works Accountants (ICWA) which has been renamed as Institute of Cost & Management Accountants (CMA) is governed by Cost & Management Accountancy in India. It has been renamed because there is no difference in both the courses and they are very similar. The name of ICWAI was identified and changed to CMA by professionals where ICWA stands for Institute of Cost & Work Accountants whereas CMA stands for Cost & Management Accounting. The Cost & Management Accountant Course (CMA) deals with the strategic management decisions that are related to economic activities of an organization. In this article, find good ICWA foundation books.

The most important aim of the Cost & Management Accounting is to ensure that there is a balance between expenditures and available resources with the help of good knowledge in both cost and financial management. Now let us talk about the main difference between ICWA and CMA course. ICWA is a job assured course that secures immediate career towards market tendencies whereas CMA course is a profession that have a good social status and is expected to collect, collate, analyze and assimilate financial information from all areas of organization.

ICMAI Syllabus 2018 For CMA Foundation :

The Institute of Cost Accountants of India made some changes in CMA Foundation syllabus from 2016. The Institute of Cost Accountants of India also made changes in ICMAI CMA Inter and ICMAI CMA Final syllabus from 2016. Recently The Institute of Cost Accountants of India also released a notification related to ICMAI Inter and Final syllabus 2016. In the notification it said that CMA Inter and CMA Final names have been changed to CMA Executive and CMA Professional.

Below, you can find all the details regarding updated ICMAI CMA Foundation syllabus for June 2019 exam. With subjects topics, you can also see weightage percentage of each topic –

Paper 1: Fundamentals of Economics and Management (FEM)

Fundamentals of Economics         50%
Fundamentals of Management         50%

Paper 2: Fundamentals of Accounting (FOA)

Fundamentals of Financial Accounting         60 %
Fundamentals of Cost & Management Accounting         40 %

Paper 3: Fundamentals of Laws and Ethics (FLE)

Fundamentals of Commercial and Industrial Laws          80%
Fundamentals of Ethics          20%

Paper 4 : Fundamentals of Business Mathematics and Statistics(FBMS)

Fundamentals of Business Mathematics         40%
Fundamentals of Business Statistics         60%

ICWA Foundation Books:

Cost & Management Accountants course consists of three levels that is Foundation, Inter and Final. Now, let’s look in details ICWA reference books of CMA Foundation, Inter and Final. Below you can find CMA Reference books for June 2019 Exam preparation with Author Name and Publication Company. The ICWA foundation books, and others, given below are by best authors and contain good quality content for CMA exam preparation.

CMA Reference Books for Foundation level –

Paper 1 – Fundamentals of Economics & Management ( Best Reference Books)

  • Publisher – Shuchita Prakashan Ltd. (Solved Scanner)
  • Authors – (1) Prof. Arun Kumar, Dr. Himanshu Srivastava & CA Mohit Bahal (2) Prof. Arun Kumar, Raj K. Agarwal, Rupesh Agarwal
  • Price Range – Rs.300/- to Rs.400/-
  • ISBN – 9789351594758

Paper 2 – Fundamentals of Accounting ( Best Reference Books)

(1) Fundamentals of Accounting by N S Zad

(2) Financial Accounting by Jasmine Kaur

(3) Cost Accounting And Financial Management A Practical Guide by G Sekar & B Saravana Prasath

(4) Guide To Indian Accounting Standards (Ind As) (Set Of Two Volumes) by Taxmann

(5) Publisher – Barron’s Educational Series

(a) Authors – Eisen & Peter J.

(b) Price Range – $250 and above

(c) ISBN – 0764135473, 9780764135477

Paper 3 – Fundamentals of Laws & Ethics ( Best Reference Books)

(1) Fundamentals of Laws & Ethics by CA Jaishree Soni

(2) Offences Under Company Law (Penalties & Punishments) by CA Kamal Garg

(3) A Handbook On Law, Ethics And Communication by Best word publications

(4)  A Handbook On Law, Ethics And Communication by Case Creation

(5) Publisher – Best Word’s Publications

(a) Author – CA Jaishree Soni, CA. Kamal Garg & CA Munish Bhandari

(b) Related Book – Handbook on Law, Ethics & Communication

(c) Price – Rs.920/-

(d) ISBN – 9789385075285

Paper 4 – Fundamentals of Business Mathematics & Statistics ( Best Reference Books)                               

(1) Fundamentals of Business Mathematics by Dr. S.R Arora / Dr. Kavita Gupta

(2) Fundamentals of Business Mathematics by Dr. J.K. Thukral

(3) Business Mathematics & Statistics by Soma garg / arun julka

(4)  Business Mathematics ( Fully Solved Previous Years Examinations Papers) by Dr. S.R Arora, Dr.Kavita Gupta

(5) Book – Business Mathematics & Statistics

(a) Book Authors – N G Das & Dr. J K Das

(b) Price – Rs.255/-

(c) ISBN – 978007133399

Below you can also find good reference books for other two levels,that is, inter and final level :

CMA Reference Books for Inter level –

Group 1

Paper 5 – Financial Accounting

  • Book – Taxmann’s Financial Accounting (2 Volumes)
  • Authors – Bhushan Kumar Goyal, H N Tiwari
  • Price – Rs.800/- ($35)
  • ISBN – 9789386635730

Paper 6 – Laws & Ethics

  • Book – Exploring Law, Ethics & Governance
  • Authors – CA Ankit Oberoi
  • Price – Rs.650/- ($32)
  • ISBN – 9789351438786

Paper 7 – Direct Taxation

  • Book – Wolters Kluwer Systematic Approach to Direct Taxation
  • Authors – Dr. Girish Ahuja & Dr. Ravi Gupta
  • Price – Rs.675/-
  • ISBN – 9789351297857

Paper 8 – Cost Accounting

  • Publisher – McGraw Hill Education
  • Book – Cost Accounting
  • Authors – M Y Khan & P K Jain
  • Price – Rs.300/-
  • ISBN – 0070402248, 9780070402249

Group 2

Paper 9 – Operations & Strategic Management

  • Publisher – Routledge Taylor & Franchis Group
  • Book – Strategic Operations Management
  • Authors – Steve Brown, John Bessant & Richard Lamming
  • Price – Rs.3, 500/-
  • ISBN – 9780425587365, 9780415587372, 9780203079355

Paper 10 – Cost & Management Accounting & Financial Management

  • Book – Cost Accounting & Financial Management
  • Authors – Ravi M. Kishore
  • Price – Rs.700/- ($25)
  • ISBN – 9789350713624

Paper 11 – Indirect Taxation

  • Publisher – Serials Publications
  • Book – Indirect Taxation
  • Authors – M. Dhanabhakyam
  • Price – Rs.450/-
  • ISBN – 818387585, 9788183871587

Paper 12 – Company Accounts & Audit

  • Book – Company Accounts & Auditing Practices (CS – Executive)
  • Authors – N S Zad
  • Price – Rs.800/- ($45)
  • ISBN – 9789386482990

CMA Reference Books for Final level –

Group 3

Paper 13 – Corporate Laws & Compliance

  • Book – Law Relating to Insider Trading
  • Authors – Bhuwneshwar Mishra
  • Price – Rs.1100/- ($50)
  • ISBN – 9789350716144

Paper 14 – Strategic Financial Management

  • Publisher – Vikas Publishing House
  • Book – Strategic Financial Management
  • Authors – Girish B. Jakhotiya
  • Price – Rs.500/-
  • ISBN – 8125953094, 9788125953098

Paper 15 – Strategic Cost Management – Decision Making

  • Publisher – Shuchita Prakashan Ltd. (Solved Scanner)
  • Book – Strategic Cost Management – Decision Making
  • Authors – Prof. Arun Kumar, CA Mohit Bahal & CS Dr. Himanshu Srivastava
  • Price – Rs.300/-
  • ISBN – 9789351594895

Paper 16 – Direct Tax Laws and International Taxation

  • Book – Students Guide to Indirect Tax Laws
  • Authors – Monica Singhania & Vinod K
  • Price – Rs.400/- ($15)
  • ISBN – 9789350718315

Group 4

Paper 17 – Corporate Financial Reporting

  • Book – Corporate Financial Reporting: Theory & Practice
  • Authors – Andrew W Higson
  • Price – Rs.4, 200/- ($64)
  • ISBN – 9780761971412

Paper 18 – Indirect Tax Laws & Practice

  • Book – Indirect Taxes – Law and Practice
  • Authors – V.S. Datey
  • Price – Rs.1200 ($60)
  • ISBN – 9789386482709

Paper 19 – Cost & Management Audit

  • Publisher – Book Corporation
  • Book – Cost and Management Audit
  • Authors – Shri Mohammad Sthaf Anathan
  • Price – Rs.450/-
  • ISBN – 8906077410693

Paper 20 – Strategic Performance Management & Business Valuation

  • Publisher – Shuchita Prakashan Ltd. (Solved Scanner)
  • Book – Strategic Performance Management & Business Valuation
  • Authors – Prof. Arun Kumar, CS (Dr.) Himanshu Srivastava & CA Mohit Bahal
  • Price – Rs.500/-
  • ISBN – 9789351594314

This was our article on ICWA Foundation Books. We hope that these ICWA Foundation books will be helpful to you and will help you in securing good marks. Best of luck!

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