CA Inter FM-SM Important Chapters for 2025 Exams

By Your Mentor — Inspired by CA Ashish Kalra Sir’s Style

Greetings to All CA Warriors!

Padhai mein consistency rakhoge to result bhi guarantee se milega.

Hello my dear CA Inter students,
This blog is specially for you all who are preparing for CA Inter FM-SM Exam (January, May, September 2025). Like always, I am here to simplify your preparation strategy and give you that extra edge in your exams.

Paper Pattern of CA Inter FM-SM (50 Marks FM + 50 Marks SM)

Section	FM (50 Marks)	SM (50 Marks)
MCQ	15 Marks Practical Based	15 Marks Case Study Based MCQs
Descriptive	35 Marks (Theory + Practical)	35 Marks Descriptive Questions

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FM (Financial Management) — ABC Analysis

FM is a very scoring subject — Theory kam, Practical zyada.

Tip: FM ka pura Practical karke jaana because 15 marks MCQ is fully practical based + 35 marks descriptive also majorly practical.

FM — Category A (Must Do — Super Important)

Chapter	Marks Trend	Remarks
Leverages	10 Marks (Mostly)	Practically 10 Marks Ka Fix Hai, Har Attempt Mein Dikhta Hai Last 10 Attempts Analysis: 5 Marks in 3 Attempts & 10 Marks in 7 Attempts.
Capital Budgeting	10 Marks (Mostly)	Rare 5 Marks, But 10 Marks Fixed Trend
Working Capital Management (WCM)	10 Marks Mostly	Never Seen Less Than 9 Marks
Financial Statement Analysis (FSA)	5-10 Marks	Mostly 5 Marks, Rarely 10 Marks Last 10 Attempts Analysis: 5 Marks in 7 Attempts & 10 Marks in 3 Attempts.

FM — Category B (Important — Compulsory Question Favourite)

Chapter	Marks Trend	Remarks
Dividend Decision	5 Marks Mostly	Compulsory Question Favourite, Theory-Based Last 10 Attempts Analysis: 5 Marks in 8 Attempts, 4 Marks in 1 Attempt, & 0 Mark in 1 Attempt.
Capital Structure	5-10 Marks	Compulsory Question Mein Dikhta Hai, 5-10 Marks Practical Last 10 Attempts Analysis: 10 Marks in 4 Attempts, 5 Marks in 5 Attempts, & 0 in 1 Attempt.
Cost of Capital	5-10 Marks	8 Out of 10 Attempts Mein Aaya Hai Last 10 Attempts Analysis: 10 Marks in 8 Attempts, & 5 Marks in 2 Attempts.

FM — Theory — General Awareness

Chapter	Marks Trend	Remarks
Scope & Objectives of Financial Management	2-4 Marks	Last 10 Attempts Analysis: 1 Question 7 Attempts, & 0 Question in 3 Attempts.
Introduction to FM	4-6 Marks	Theory Mein Se Kuch Na Kuch Zaroor Aata Hai Last 10 Attempts Analysis: 1 Question 7 Attempts, & 0 Question in 3 Attempts.

Read Also: ICAI CA Intermediate MTP

SM (Strategic Management) — ABC Analysis

Strategic Management — Bahut Easy & Scoring Subject

Marks Range Always Between 8 to 12 Marks Per Chapter.

Chapter	Remarks	Preparation Strategy
1. Introduction to SM	Basic Concepts (Small Chapter)	Start Your Preparation From This Chapter
2. Strategic Analysis	Easy (Medium Chapter)	After 4th chapter start this
3. Strategic Implementation & Control	Practical Examples Based (Medium Chapter)	After 2nd chapter start this
4. Corporate Level Strategies	Very Scoring (Small Chapter)	After first chapter start this.
5. Functional Level Strategies	Simple Concepts (Big Chapter)	Do At The End After Completing Others

Read Also: Which is Easier, Group 1 or Group 2 in CA Inter?

SM — Paper Pattern Analysis

→ MCQs: 15 Marks — Case Study Based
→ Descriptive: 35 Marks — Easy Concepts Based, Repeat Questions Possible

Final Study Tips — From Your Mentor

1. FM — Practical Ko Strong Rakho (100% Practicals Complete Karke Jana)
2. Theory — Compulsory Questions Mein Zaroor Dikhte Hain (FM Mein & SM Mein)
3. SM — Pocket Book Revision Multiple Times + Writing Practice Must
4. Descriptive Question — Do practice with the question bank with Writing Practice.
5. Focus On ABC Analysis — Time Waste Na Karein Unimportant Topics Par
6. Past Papers Analysis — At Least 5-6 Attempts Ko Properly Dekh Kar Study Karein

Read Also: Best Faculty for CA Intermediate Exams – Subject-Wise

Conclusion

CA Inter FM-SM is the Most Scoring Subject If Prepared Strategically.

Exam Mein Selection Zyada Important Hai — Smart Work + Consistency = Result Guaranteed!