Cost and management accounting is referred to as CMA. Many students choose the CMA course today. The three levels of the course are called Foundation, Inter, and Final. However, students must pass these three course levels in order to become a CMA. Most students who wish to advance their careers in cost and management accounting choose this course.
The CMA Course facts, duration, syllabus, eligibility, passing requirements, and much more are included in the text below.
What is CMA?
Cost and Management Accountants of India is the abbreviation for the CMA. The Institute of Cost Accountants of India is offering professional education in this area (ICWAI). India’s cost and management professions were promoted and regulated by the establishment of the course. Additionally, only the CMA has the authority to audit India’s cost accounting. The topics covered in this course will include cost accounting, management, tax, and law, among others.
Duration of CMA Course
After class 12, the CMA course lasts three years. But within this time, you can pass the test on your first try. Every unsuccessful attempt will lengthen the time by six months. Additionally, the 15 months of articleship training are not included in this.
Eligibility Criteria of the CMA Course
Knowing the requirements for the course’s eligibility is a prerequisite before applying. Here are the requirements for each level of the CMA Course:
CMA Foundation Course:
- A recognised board’s Class 10th exams must have been passed by the candidate.
- passed the class 12th test given by a board recognised by the central government or another exam recognised by that board.
- Additionally, students who have earned a National Diploma in Commerce from AICTE or another accredited institution through the All India Council
- Additionally, individuals awaiting their Class 12th results may register provisionally for the CMA Foundation Course.
CMA Intermediate Course:
- the applicant who has earned their graduate degree in any field of study or the Foundation level of the Indian Institute of Cost Accountants. passed the Intermediate Levels of the Chartered Accountants of India and ICSI (Company Secretary).
- The candidate who successfully completed CMA’s Intermediate level. The candidate must have finished a 15-month training course.
CMA Course Registration
So, if you meet the prerequisites, sign up for the course as soon as possible. On the ICAMI’s official website, applicants can register for the exam. Now complete the CMA Registration form by following the procedures.
- To begin, access the official ICAMI website and select CMA Foundation Registration.
- Enter the necessary information now, then click “Save” to continue.
- Next, upload the relevant papers’ scanned copies.
- After that, pay for your individual classes using an online payment system.
Consequently, the registration procedure is the same for the CMA Intermediate and CMA Final levels. The only distinction is that various documentation must be submitted.
Documents Required for CMA Registration
- A Passport Size Photo
- Class 10th Marksheet (for CMA Foundation)
- Signature of a Candidate
- Class 12th Marksheet (for CMA Foundation)
- CMA Foundation Marksheet (for CMA Intermediate)
- CMA Intermediate Marksheet (for CMA Final)
- 15 Months training Certificate (for CMA Final)
Students should also be aware that enrollment for the CMA course is open all year long. Before January 1 of the next year, students must complete the registration form for the CMA June attempt, and by July 1 of the same year, they must complete the registration form for the CMA December attempt.
CMA Exam Details
In June and December of each year, the CMA Exams are administered. Additionally, students must receive a minimum of 40% in each topic and a minimum of 50% overall to pass the CMA Exam.
Syllabus and Subjects for CMA Courses
The three levels of the CMA course are called the Foundation, Intermediate, and Final levels. The CMA Foundation, on the other hand, has four subjects, whilst the CMA Inter and Final has eight subjects, divided into two groups of four each.
CMA Foundation Syllabus
- Paper 1: Fundamentals and Economics of Management
- Paper 2: Fundamentals of Accounting
- Paper 3: Fundamentals of Law and Ethics
- Paper 4: Fundamentals of Business Mathematics and Statistics.
CMA Intermediate Syllabus
- Paper 1: Financial Accounting
- Paper 2: Law and Ethics
- Paper 3: Direct Taxation
- Paper 4: Cost Accounting
- Paper 5: Operations Management & Strategic Management
- Paper 6: Cost & Management Accounting and Financial Management
- Paper 7: Indirect Taxation
- Paper 8: Company Accounts & Audit
CMA Final Syllabus
- Paper 1: Corporate Law and Compliance
- Paper 2: Strategic Financial Management
- Paper 3: Strategic Cost Management – Decision Making
- Paper 4: Direct Tax Law and International Taxation
- Paper 5: Corporate Financial Reporting
- Paper 6: Indirect Tax Law and Practice
- Paper 7: Cost and Management Audit
- Paper 8: Strategic Performance Management and Business Evaluation
Career Options After CMA
After completing CMA there are various career opportunities, let’s have a look at them:
- Financial Manager
- Cost Accountant
- Corporate Controller
- Chief Financial Officer
- Financial Analyst
- Financial Controller
- Chief Investment officer
In India, a CMA makes an average salary of 7–10 lakhs. Your income could increase to 20 Lakhs, though, based on your experience and abilities.