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CA Intermediate FM and SM Marks Weightage Notes For 2025

Get complete CA Intermediate FM and SM Marks Weightage Notes with chapter-wise analysis to score high. Download a topic-wise study plan and tips for better preparation.



The CA Intermediate Financial Management (FM) and Strategic Management (SM) paper is a scoring subject under the New Scheme of ICAI. It is Paper 8 in Group 2 and carries a total of 100 marks, divided equally between FM (60 marks) and SM (40 marks). For students preparing for the upcoming exams, having a clear understanding of the chapter-wise marks weightage can help in smart study planning and time management.

Let us break down the marks weightage, important topics, and strategy to ace this paper.

Financial Management (FM) Weightage marks 

  • Financial Plan and Strategy (20-25 marks): This subject includes financial planning, budget, and strategy construction. 
  • Investment decision (15-20 marks): This sector focuses on capital budget, risk analysis, and investment assessment techniques. 
  • Financing decision (15-20 marks): This subject belongs to the sources of finance, the cost of capital, and the sources of dividend policy. 
  • Working Capital Management (10–15 marks): The field includes working capital financing, inventory management, and cash management.

Strategic Management (SM) marks the weightage

  • Strategic Planning Process (20-25 marks): This subject covers the strategic planning process, including mission, vision, and purpose statements. 
  • Strategic Analysis (15–20 marks): This area focuses on SWOT analysis, analysis of the five forces of Porter, and other strategic analysis tools. 
  • Strategic options and implementation (20–25 marks): The subject relates to strategic options, including growth, stability, and trimmed strategies, as well as implementation and control. 
  • Corporate Governance and Ethics (10–15 marks): The region covers corporate governance, business ethics, and social response.

Preparation Tips:

  • Start with FM Practical Topics: Concepts like capital budgeting and cost of capital need consistent practice.
  • Revise SM Regularly: Use flashcards or mind maps to revise theory.
  • Mock Tests and RTPs: Solve ICAI RTPs, MTPs, and past year question papers to get an idea of question patterns.
  • Use ICAI Modules: Stick to ICAI material for both FM and SM, as many questions are directly picked from them.
  • Time Allocation: Dedicate 60% of your study time to FM and 40% to SM accordingly.

FAQs

What is the total marks distribution for FM and SM in CA Intermediate?

The CA Intermediate Paper 8 consists of 100 marks, with Financial Management accounting for 60 marks and Strategic Management covering the remaining 40 marks.

Which chapters in FM carry the most weightage?

Capital budgeting and working capital management typically carry the highest marks, between 12 and 14 and 10 and 12 marks, respectively, making them crucial for exam preparation.

Is strategic management a scoring subject?

Yes, SM is a high-scoring theory subject. If you understand the concepts well and write to-the-point answers, it is possible to score 30+ out of 40.

How should I divide my study time between FM and SM?

You should allocate about 60% of your preparation time to FM and 40% to SM, as per their respective weightage in the exam.

Are there case-study questions in FM and SM?

Yes, FM includes numerical case-based questions, while SM may have small caselets or scenario-based questions testing strategic application.

Can I skip theory chapters in FM and only focus on practicals?

Not advisable. Theory questions from chapters like Types of Financing and Leverage Analysis can contribute up to 12–15 marks, which are easy to score.

What resources are best for preparing FM and SM?

ICAI study modules, practice manuals, RTPs, MTPs, and YouTube revision lectures are great resources for both subjects.

How often are weightage patterns updated?

ICAI may revise weightage patterns every few attempts. Always refer to the latest RTPs and study guidelines issued by ICAI for the most accurate data.

Is it possible to pass Paper 8 by focusing only on FM or SM?

No. Since the paper is a combined one, you must perform decently in both FM and SM to secure an overall pass in Paper 8.

How important is practicing past year papers for FM and SM?

Very important. It helps you understand the question trends, improve time management, and build confidence before the actual exam.