In your CMA final law classes, you have three papers that talk about different laws that a CMA needs to study and their regulations.
After successfully clearing CMA foundation and CMA intermediate course, the only thing left between you and your peace of mind is the CMA final. CMA final course is the last straw. It consists of two groups i.e. group 3 and group 4. Both of these groups contain 4 papers each, therefore, you have a total of 8 papers in your CMA final course. All of these papers are very important subjects that you will use one day, out in the real world. That is why students prefer to take classes for all of them separately to grasp all the concepts completely.
Table of Content:
- CMA Final Papers
- CMA Final Law Classes – What it Covers?
- What will you Study in CMA Final Law Classes?
- Study Material for CMA final law classes
- How much do these classes cost?
- TopLad’s CMA Final Law Classes
CMA Final Papers – Group 3 and Group 4
CMA final group 3 papers
- 13: Corporate Law & Compliance
- 14: Strategic Financial Management (SFM)
- 15: Strategic Cost Management – Decision Making (SCMD)
- 16: Direct Tax Laws and International Taxation (DTI)
CMA final group 4 papers
- 17: Corporate Financial Reporting (CFR)
- 18: Indirect Tax Laws and Practice (ITP)
- 19: Cost and Management Audit (CMAD)
- 20: Strategic Performance Management and Business Valuation (SPBV)
CMA Final Law Classes – What It covers?
In your CMA final syllabus, you have three papers that talk about different laws that a CMA needs to study and their regulations. You can take classes for all of them separately or in a combo. These papers are:
- Corporate law and Compliance – The Companies Act 2013, insolvency and bankruptcy law, corporate governance, and other important laws
- Direct Tax Laws and International Taxation – The Income Tax Act 1961and International taxation
- Indirect Tax Laws and Practice – GST, Customs, and Foreign Trade Policy
CMA Final Law Classes – What Will You Study?
Corporate Laws and Compliance
Today, there are various forms of business entities all over the world. One of these entities is called a “company”. A company is a legal entity comprising of people who come together to achieve a singular goal in specific different ways and roles.
The Companies Act 2013, was an act established by the parliament of India to enable these companies to be formed by registration. This Act specifies the responsibilities of a company, its executive directors, and secretaries and provides the procedure for its formation. It also regulates the dissolution of a company.
Along with the Companies Act 2013, there are other legislations that are also very significant, for example; SEBI regulations, FEMA for foreign trading, IRDA for insurance companies, IBC for the liquidation of companies, and the banking regulations Act for banking companies. Company Act 2013 is the base for all these as well as other laws. It links income tax laws, indirect tax laws, labor laws, etc. with each other. Therefore, for a cost and management accountant (CMA) it is very important to study and understand all these laws.
A good company shows compliance with all these laws and ensures accountability and transparency. In your CMA final syllabus, you will learn how a company is required to comply with all these laws successfully and ethically.
Previously, In CMA intermediate course you have studied the types of companies, their promotion, and board of directors. CMA final law classes will cover the companies act and other corporate laws such as SEBI laws, the competition act 2002, laws related to the banking and insurance sector, etc., and corporate governance.
Direct Tax Laws and International Taxation
Government facilitates various development activities in our country such as the development of infrastructure, providing health care facilities, development of rural areas, and many other things for the welfare of our society. It does so with the money paid by its people from the income they earn. This money, we call today, “Tax”. Every individual earning an income pays a tax to the government.
The Income Tax Act 1961 was established for collecting and regulating tax laws. In your CMA final law classes, you will study the laws and procedures under this act.
With globalization, there was a need to establish these laws for international transactions and avoid double taxation. For a CMA final student, it is crucial to have in-depth knowledge of international taxation so he/she can guide and advise on compliance with these laws.
In your CMA final law classes, you will study both of these topics thoroughly. all the laws, regulations regarding them, and how to ensure compliance with these laws.
Indirect Tax Laws and Practice
Government facilitates various development activities in our country such as the development of infrastructure, providing health care facilities, development of rural areas, and many other things for the welfare of our society. It does so with the money paid by its people from the income they earn. This money, we call today, “Tax”.
Direct tax, we pay from our income or profits but indirect tax is paid through goods and services we buy, which is called GST, goods and services tax. After studying direct tax laws and international taxation, we move to study GST, customs, and FTP (Foreign trade policy).
We study The Custom Act 1964, types of duty, classification of imported and exported goods, exemptions from custom duty, exportation and transportation of goods, and more. We also learn about basic concepts of export promotion schemes under FTP.
Study Material for CMA final Law Classes
Study material and resources for these classes include:
- Books about these subjects such as Company Law, GST or Custom & FTP
- Notes for specific subjects
- Mock test Paper
- Previous year papers or scanner
- Video lectures
- Crash courses for revision at the end
How much do these classes cost?
If you opt for individual courses/classes
- Corporate Law and Compliance can cost from Rs.6000 – Rs.10,000
- Direct Tax Laws and International Taxation can cost around Rs.10,000
- Indirect Tax Laws and Practices can cost from Rs.7000 – Rs.10,000
For Combos, you will study the first two in CMA final group 3 and the third one in CMA final group 4. Both will cost around Rs.30,000 – Rs.40,000.
Check Out TopLad’s CMA final group 3 and group 4 combo offers starting at just Rs.15,000
TopLad – CMA Final Law Classes
With TopLad CMA final law classes you will:
- Learn from the top faculties of India about all the topics mentioned above and more
- Gain relevant study material like books, notes, mock test papers, and past year papers
- Have doubt sessions available
- Have the choice of Hindi or English lectures
- Term vise studying i.e. June or December term
- You can get all this at cheap prices from your home!
Click the links below for CMA final Law classes
- Corporate Law and Compliance
- Direct Tax Laws and International Taxation
- Indirect Tax Laws and Practice
Check out our CMA Learning Program: TopLad CMA Classes