When we read the June 2026 comments subject by subject, the issues are not limited to one paper. For CMA Intermediate, examiners talk about the need for better conceptual understanding, intensive practical question practice, point-wise and precise theoretical answers, improved presentation, time management, mock tests and solving past examination papers under exam conditions.

A similar pattern appears in CMA Final. The comments highlight depth of knowledge, time-bound practice, understanding exactly what the question demands, presentation of answers, sufficient working notes, practising past papers and mock tests, and avoiding selective preparation.

This gives CMA students an important lesson: Exam preparation is not only about how much you have studied. It is also about how well you can apply, write and present what you have studied within the examination time.

Conceptual clarity is one of the recurring themes in the examiner comments. For Intermediate Financial Accounting, the report asks for a better understanding of key concepts and points out inadequate preparation and a lack of subject knowledge among many students. FMDA comments similarly mention that although examinees had a general understanding, conceptual clarity and analytical skills were lacking.

At Final level, SFM comments state that the required depth of knowledge was found inadequate and that candidates often approached problems without properly understanding what the question expected. CFR comments also identify specific areas where conceptual and analytical understanding needs strengthening.

You may know the answer in your mind, but the examiner can award marks only for what reaches your answer sheet.

This is especially visible in the June 2026 comments.

For Intermediate Taxation, students are advised to improve the presentation of their answers. Cost Accounting asks students to write theoretical answers to the point, while Corporate Accounting and Auditing recommend point-wise theoretical answers with reference to the appropriate section of the Act.

At Final level, Direct Tax comments specifically note that some students may know the provisions but are unable to put them properly in their answers and therefore lose marks. SCM stresses orderly presentation of practical solutions in a suitable format with sufficient working notes, while CMAD also asks students to improve presentation in a neat and well-arranged manner.

This is why reading a suggested answer and writing an answer yourself are not the same exercise. Until you actually write, you may not notice where your presentation needs improvement.

Another important takeaway is that examiners want students to answer what has actually been asked. 

In Intermediate Business Laws and Ethics, the report says there is no general answer and recommends point-wise answers with specific provisions. Cost Accounting also advises students to avoid random general answers. In CAA, students are again told to avoid general answers and answer theory point-wise with appropriate references.

The Final report carries the same message. SCM asks students to avoid unnecessary and irrelevant details, while SPMBV advises against vague answers and selective study. Final Law goes further by explaining that a 7-mark answer should contain the relevant provision, analysis of the given problem and a conclusion.

For CMA Inter students, the June 2026 report shows that different subjects require different answer-writing approaches.

In Law, provisions and point-wise answers matter. In FA, conceptual understanding, problem-solving and mock practice are important. Taxation requires practical practice as well as presentation. Cost Accounting requires both practical and theory preparation, along with mock tests and proper examination technique.

OMSM needs conceptual revision, numerical practice and application, while CAA requires careful reading of practical requirements and point-wise theoretical answers. 

FMDA needs stronger conceptual and analytical understanding, and Management Accounting emphasises steps, time management, decision-making ability and comprehensive preparation.

This means your preparation method cannot simply be: Study → Revise → Exam

It needs another important stage: Study → Revise → Write → Evaluate → Improve → Exam

At CMA Final, expectations naturally become more application-oriented.

The June 2026 comments for Law emphasise concise answers, time management and application of provisions. SFM requires broader conceptual knowledge and time-bound practice. Direct Tax requires better presentation, MCQ practice, complete answers and time management.

SCM highlights proper formats and sufficient working notes. CMAD recommends intensive study, practical problem-solving and neat presentation. CFR identifies several areas where stronger conceptual and analytical understanding is required, while IDT warns against selective study and asks students to practise more practical problems and Section A tests.

For a Final student, therefore, simply saying “Concept samajh aa gaya” is not enough.

You should also know whether you can apply it, calculate it, present it and complete it within examination time.

This is perhaps one of the most important points for students preparing for the next attempt.

In Intermediate Cost Accounting, the examiner comments specifically advise students to appear for a number of mock tests within the stipulated time frame and evaluate their performance before the examination. The report says this can help students identify weaknesses and develop confidence. OMSM similarly recommends solving mock tests and past examination papers under exam conditions and reviewing mistakes. Financial Accounting also recommends working with mock tests/MQPs.

For CMA Final, Direct Tax recommends practising old question papers and giving mock tests. IDT asks students to give importance to Section A MCQs and specifically prepare through various tests. Other Final subjects repeatedly stress time-bound question practice and past-paper practice.

So mock tests should not be seen as something you attempt only when you feel 100% prepared. A test can itself be part of the preparation process.

Reading the ICMAI Examiner Comments tells you what students need to improve.

But there is another question: How will you know what YOU need to improve?

You may feel that your answer writing is good. You may believe your speed is enough. You may think your presentation is clear.

But until you sit down and actually write a paper, it is difficult to know.

This is the idea behind SJC Mock Test Sangram (MTS) — to make testing a part of your preparation instead of leaving it for the last moment.

👉 Explore SJC Mock Test Sangram (MTS): Click Here

Instead of directly jumping into a complete 100-mark paper, MTS follows a progressive testing approach.

You begin with Rapid Tests to check smaller portions of your preparation. As your coverage improves, you move towards Part Tests, and eventually you attempt a Full 

Test to experience a more complete examination-style paper. The answer sheet is then evaluated, and students also receive the suggested answer. This helps you compare not only whether your final answer was right or wrong, but also how your approach, presentation and working could be improved.

So the purpose is not simply: Write Test → Get Marks

The more useful cycle is: Write → Evaluate → Identify Mistakes → Correct Them → Write Again

Frequently Asked Questions

Is mock test practice actually recommended in the ICMAI June 2026 Examiner Comments?

Yes. The Intermediate report explicitly recommends mock tests/MQPs in Financial Accounting, mock tests within a stipulated time in Cost Accounting, and mock tests and past papers under exam conditions in OMSM. The Final report also recommends mock tests in Direct Tax and testing for Section A preparation in IDT, alongside repeated recommendations for timed question and past-paper practice.  

Should I attempt mock tests even if my preparation isn't complete?

The reports don't prescribe one universal point in preparation at which every student must begin mock tests. However, because they repeatedly emphasise practice, timed conditions, identifying weaknesses and reviewing mistakes, testing before the actual examination can help reveal areas that still need work.  

Is only solving past questions enough?

Past examination questions are strongly recommended in several examiner comments, but the reports also emphasise conceptual clarity, practical problem-solving, presentation, complete syllabus coverage and timed/mock-test practice. So past questions should form part of a broader preparation strategy.  

Why should I get my answer sheet evaluated?

Evaluation can help you understand problems that are difficult to identify simply by reading a suggested answer—such as presentation, answer structure or whether you have addressed the question properly. The June 2026 Intermediate comments themselves encourage reviewing feedback/mistakes and identifying weaknesses through practice. 

About SJC Institute

SJC Institute has been supporting CMA aspirants through classes, revision, question practice, mentorship and examination preparation.

Through initiatives such as Mock Test Sangram (MTS), the focus is not only on giving students another question paper to solve, but on encouraging a structured cycle of writing, evaluation, identifying mistakes and improving before the actual examination.

Because ultimately, completing your syllabus is important — but you also need to be ready to convert your preparation into marks on the answer sheet.

SJC Institute | Nurturing CMA Aspirants

📞 Call/WhatsApp: 8100 11 2222
🌐 sjcinstitute.com

What does a student normally do when revision begins? Usually, they open YouTube and search for a revision video. Then another faculty's strategy video appears, followed by a “most important chapters” video, and maybe someone recommends a marathon class. At the same time, your friend may have a completely different strategy, while someone in a WhatsApp or Telegram group is suggesting something else. Before you realise it, you are watching 3–4 different videos for one subject and trying to combine everyone's strategy. The intention is right — you are trying to prepare better. But too much information can create another problem: confusion. The closer you get to the exam, the less you need random information. What you really need is clarity about what you should do next.

This is where the approach changes. A structured Crash Course shouldn't stop at: “Come, revise the subject and watch the classes.” It should take you through the complete preparation cycle.

At SJC, the thought behind the Crash Course was simple: What if we stay connected with the student from focused classes all the way till the exam?

That means combining: Classes + Question Practice + Revision + Tests + Review

Instead of giving you one revision class and then leaving you to figure out the rest, the preparation moves through different phases.

📲 Explore SJC CMA Crash Course: Click Here

Students generally know that mock tests are important, but many still don't actually write them. Somewhere in their mind, there is always one thought: “Pehle preparation complete ho jaye, phir test dunga.” And that “complete preparation” keeps getting postponed.

Sometimes students download the question paper and suggested answer and think they will go through them later. But seeing a question paper is not the same as writing one under exam conditions. That's why testing needs to become part of your preparation itself — not something you do only after everything else is complete.

The SJC Crash Course has been structured to connect preparation with testing. Instead of completing classes first and worrying about practice later, the journey moves step by step. Focused Classes → Rapid Tests → PYQs → Super 50 → Part Tests → Full Test

There is a very common pattern in exam preparation: 

1. For the first few months, students feel that there is still enough time. 2. Then suddenly, the exam gets close.

3. Pending classes are still there. 4. Revision hasn't properly started. 5. Questions haven't been practised enough. 6. Mock tests are being postponed.

7. That's when preparation starts feeling stressful. 8. The solution isn't always studying 12 or 14 hours every day.

Sometimes, you simply need a clear answer to three questions:

• What should I study now?
• What should I practise next?
• When should I test myself?

Once these three things are planned, preparation becomes much easier to manage.

Let's clear up one thing first. A Crash Course is not a shortened regular course where the entire syllabus is rushed through in a few days.

That wouldn't make much sense. The SJC Crash Course focuses on high-priority, exam-relevant concepts and questions.

Instead of spending equal time on everything, the idea is to focus your remaining preparation on the areas that matter most at this stage.

What's Included in Crash Course?

• Phase 1: Live + Recorded Concept Classes with 2 Tests of 30 Marks Each
• Phase 2: Live + Recorded Super 50 Question Solving
• Phase 3: Mock Tests & Final Review
• Special Bonus: (1. Exam Day Special MCQ's 2. Important Selected Theory Questions & Answers PDF 3. Formula Sheets PDF  4. Weekly Live Review Sessions 5. Broad Progress Tracker Chart)

This Crash Course is mainly for students who need direction and structured preparation in the final months.

It can help if:

• Your previous attempt didn't go as planned and you need a fresh roadmap.
• Your classes are complete, but revision and question practice are still pending.
• You are doing self-study and feel confused about what to prioritise.
• You need a time-bound plan combining concepts, revision, practice and tests.

The goal is simple: less confusion, more focused preparation.

• Cost, Management Accounting (Cost & MA) - CMA Rahil Singhal Sir
• Financial Management (FM) - CA Anirudh Singhania Sir
• Operations Management (OM) - CA Satish Jalan Sir
• Data Analytics, Strategic Management (DA & SM) - CA Satish Sureka Sir
• Financial Accounting, Corporate Accounting & Auditing (FA & CAA) - Prof. Suraj Kr. Gupta, CMA (UK)

For CMA Final, the Crash Course includes:

Yes, this has been considered while planning the classes. Crash Course classes are planned around early morning or late evening timings, with recordings available as a backup. So if you are working or have another genuine commitment and cannot attend a particular live class, you can use the recording.

2. Not Reading the Question Carefully

Many students lose marks because they fail to understand exactly what the examiner wants.

In one Financial Management question, students were asked to calculate the value of shares at the end of the accounting year. However, many directly discounted the value using 1.12 without understanding the timing involved in the valuation model.

As a result, the entire answer became incorrect.

Solution

Before solving any question, ask yourself:

• What is being asked?
• What is the final requirement?
• Is the answer needed at the beginning or end of the year?

A 30-second review can save several marks.

3. Poor Presentation of Answers

Even when the calculation is correct, poor presentation can reduce your score.

Many students solve all parts together instead of presenting separate answers for Part (a), Part (b), and Part (c).

Examiners should not have to search for your answers.

Solution

• Write answer numbers clearly.
• Present each part separately.
• Show formulas before calculations.
• Use proper headings and workings.

A well-presented answer sheet creates a positive impression immediately.

4. Losing Marks in MCQs

One surprising observation from mock paper analysis was that many students scored well in descriptive questions but performed poorly in MCQs.

In one case, a student scored only 7 out of 15 in MCQs despite writing excellent descriptive answers.

Why Does This Happen?

• Overconfidence
• Lack of revision
• Careless reading

Solution

• Practice MCQs daily.
• Revise important concepts repeatedly.
• Read every option carefully before selecting the answer.

Remember: MCQs can significantly improve your rank.

5. Poor Time Management

This is perhaps the most dangerous mistake.

Many students spend excessive time beautifying one answer while leaving other questions incomplete.

During evaluation, we found answer sheets that were beautifully written but incomplete because the student ran out of time.

Reality Check

A perfect answer worth 7 marks cannot compensate for a completely unattempted 15-mark question.

Solution

• Practice writing under exam conditions.
• Set a time limit for every question.
• Focus on completing the entire paper.

Your first goal should always be: Complete the paper.

6. Calculation Errors and Formula Application Mistakes

Students often know the chapter but make silly calculation mistakes.

Common examples include:

Financial Management Mistakes

• Incorrect IRR calculation
• Wrong treatment of Cost of Debt (Kd)
• Confusion between D₀ and D₁ in dividend valuation models
• Incorrect EPS calculations
• Wrong interpretation of Market Return and Market Risk Premium
• Errors in leverage calculations

These mistakes cost easy marks.

Solution

Maintain a revision sheet containing:

• Important formulas
• Common adjustments
• Special cases
• Frequently confused concepts

Revise this sheet every day before the exam.

7. Lack of Confidence and Excessive Cutting

Confidence reflects directly in your answer sheet.

Many students repeatedly erase, rewrite, and cut answers because they lack confidence in their preparation.

This creates:

• Untidy presentation
• Wasted time
• Increased stress

Solution

• Practice writing regularly.
• Take mock tests seriously.
• Build confidence through revision and repetition.

Confidence comes from preparation—not luck.

How to Fix These Mistakes Before June 2026?

If your exam is only a few days away, don’t panic.

The solution is focused revision, writing practice, concept strengthening, and proper guidance.

At SJC Institute, we have designed the Last Moment Rescue Batch (LMRB) specifically for students who want to maximize their preparation during the final days before the exam.

This course is available on the SJC Digital App.

Download the SJC Digital App

For Android Users: Download Link – Click Here

For Apple Users: Download Link – Click Here

What You’ll Get Inside LMRB?

✅ Complete Concept Revision
✅ Live Writing Practice Sessions
✅ Important Exam-Oriented Questions
✅ MCQ Practice Videos
✅ Last Day Revision Notes
✅ Super 50 Important Questions PDF
✅ Guidance from Experienced Faculty

For any query, contact: 8100112222

Website: www.sjcinstitute.com

CMA Inter

• Cost Accounting
• MA
• FMBDA
• OMSM

CMA Final

• SCM
• SFM
• SPMBV

If you are wondering what to do after the CMA intermediate, you essentially have three primary pathways. The best choice depends on your financial situation and long-term goals.

Here are your primary options:

1. Commence Practical Training: Start your mandatory ICMAI practical training to gain hands-on corporate experience.
2. Pursue the Final Level: Register immediately for the CMA Final level and maintain your study momentum.
3. Enter the Corporate Sector: Start working full-time in an entry-level accounting or costing role.

Here is a look at the best CMA intermediate career options available in the 2026 job market:

1. What are the best CMA intermediate career options?

The most popular CMA intermediate career options include roles such as Cost Assistant, Junior Financial Analyst, Accounts Executive, and Tax Associate in manufacturing firms and mid-sized corporate enterprises.

2. What is the average salary after CMA intermediate?

In 2026, the average salary after CMA intermediate for a semi-qualified professional in India ranges from ₹3.5 Lakhs to ₹6 Lakhs per annum, depending heavily on the industry and the candidate's practical software skills.

3. Is the CMA intermediate internship strictly mandatory?

Yes, the CMA intermediate internship (practical training) is mandatory. The ICMAI requires students to complete 15 months of recognized practical training before they are permitted to write their CMA Final examinations.

4. Is CMA intermediate enough for jobs in the current market?

Yes, is CMA intermediate enough for jobs is a common question, and the answer is yes for entry-to-mid-level roles. However, to secure senior management positions or CFO titles, completing the final level.

The Foundation level is the entry point for students beginning their CMA journey. This stage focuses on fundamental concepts of Cost and Management Accounting, laying a strong base for future studies. The duration of the Foundation course is eight months, and students must secure a minimum of 40% marks to pass.

At the Intermediate level, students delve deeper into subjects such as financial accounting, cost accounting, taxation, and corporate laws. The syllabus comprises eight papers divided into two groups, each covering critical aspects of cost and management accounting. This level builds on the concepts learned in the Foundation stage and prepares students for advanced financial analysis and management practices.

The Final level is the most challenging stage of the CMA course, where students study corporate laws, advanced cost and financial management, auditing, and strategic business analysis in detail. This stage not only strengthens theoretical knowledge but also enhances analytical and decision-making skills essential for high-level corporate roles.

• Cleared the 10+2 exams.

• Cleared the CMA Foundation exams.

• Foundation or entry level of Common Admission Test (CAT) by Institute of Cost Accountants of India (ICAI)

• A student should have a Bachelor’s degree except in fine arts.

• Cleared CA Foundation ,  Cleared CS Foundation or the Intermediate level of CA.

After registering for the CMA course, applicants must fill out the CMA exam form or else they won’t be able to take up the exams of that attempt.

Procedure to Fill Out the CMA Application Form

For the CMA exam form fill-up for CMA Foundation/Intermediate/Final, follow these steps:

1. Visit the official website of ICMAI.

2. Click on the Students tab from the menu. A new tab will open.

3. Scroll down to the end of the page, and on your right, you can see the Online Exam Application Form option.

4. You will be taken to a new page; locate the “Online Application” link and click it.

5. From the drop-down, select your preferred course, and continue to enter your information on the exam form.

6. Upload the required documentation asked.

7. Select the payment option, proceed to pay, and keep the receipt after completing the payment.

The CMA exam form will only be accessible online. Hence, to submit the exam form, students need to visit the official website of ICMAI and complete the form.

CMA Foundation Exam Pattern & Passing Marks

As per the CMA Foundation exam structure, each paper carries 100 marks and has a duration of three hours. Additionally, students will receive an extra 15 minutes to review the question paper before starting the exam.

The question paper consists of both descriptive and objective questions. The objective section accounts for 60% of the paper, while the subjective section makes up the remaining 40%. Students must manage their time effectively to complete the exam within the given duration. Notably, there is no negative marking in the CMA Foundation exam.

To qualify, candidates must secure at least 40% in each subject and 50% in aggregate across all papers.

CMA Intermediate Exam Pattern & Passing Marks

The CMA Intermediate level consists of eight subjects, which are divided into two groups of four papers each. Each paper carries 100 marks, and the duration for each exam is three hours.

The question paper comprises both objective and descriptive questions. There is no negative marking for incorrect answers. To clear the CMA Intermediate exam, students need to score a minimum of 40% in each subject and 50% in aggregate.

Key Tip: Before diving into the CMA Intermediate syllabus, review the chapter-wise weightage of each subject. Prioritizing topics with higher weightage can be beneficial for scoring well.

CMA Final Exam Pattern & Passing Criteria

The CMA Final exam follows a similar structure to the Intermediate level, comprising eight subjects divided into two groups of four papers each. Each paper carries 100 marks, with a total of 120 questions to be answered within three hours.

The exam includes both objective and descriptive questions. There is no negative marking, and the examination is conducted in an offline center-based mode.

To pass the CMA Final exam, candidates must obtain at least 40% in each paper and 50% in aggregate across all subjects.