CMA course insights and important details, which you need to know.
The full form of CMA is Cost and Management Accounting. CMA is a certificate program offered by the Institute of Cost and Management Accountants of India (ICMAI). The CMA course is gaining huge popularity among commerce students who want to pursue their career in the field of Cost and Management Accounting.
The Institute of Cost and Management Accountants of India (ICMAI) is the regulatory body of CMA that invites registration forms, conducts exams, and manages the syllabus & pattern of the CMA course in India.
CMA course is one of the highly popular courses among commerce students as this course opens the doors of career opportunities in the field of finance in India and abroad. Also, this course is the gateway to landing top-level management jobs with high-paying salaries and career growth.
The CMA course in India is divided into 3 levels
- Level 1 – Foundation Course
- Level 2 – Intermediate Course
- Level 3 – Final Course
These are the 3-levels of the CMA or Cost & Management Accounting course, which takes place in the form of an examination and candidates have to clear each and every level of exam to complete the CMA course.
Though, the student can join either the Foundation level or get directly into the Intermediate level based on your eligibility.
Candidates have to first enroll for the CMA Foundation course by registering on the ICMAI official website which is the website https://icmai.in/. Admission to the foundation course for the ICAI course is open throughout the year However, Students who desire to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year.
The CMA course comprises three stages and 20 subjects. Depending on your capacity and level of dedication, you can complete the course from 3 to 4 years.
There is no fixed course duration for CMA, you can complete the course minimum in 6 months to 3-4 years. Candidates can qualify the levels as per their ability, dedication, and hard work. Generally, students take 3 years to complete the course.
CMA Course Registration Fees is given below:
|Foundation Course||Rs. 4000|
|Intermediate Course||Rs. 20000|
|Intermediate Course||Rs. 17000|
The above-provided registration fee is common and remains the same for all categories of candidates.
Let’s discuss the eligibility criteria for the CMA course
Foundation Course: Candidates must have passed 10+2 or equivalent examinations from a recognized board of school education.
Intermediate Course: Candidates must have passed 10+2 or equivalent examinations from a recognized board of school education and foundation course of the Institute of Cost Accountants of India or passed 10+2 and graduated in any discipline other than Fine Arts.
Final Course: Candidates must have passed the Intermediate course of the Institute and completed 15 months of practical training.
CMA course comprises 20 subjects that candidates are required to qualify in three levels. The level-wise CMA syllabus is given below:
CMA Foundation Syllabus
Paper 1 – Fundamentals of Business Mathematics and Statistic
Paper 2 – Fundamentals of Laws and Ethics
Paper 3 – Fundamentals of Accounting
Paper 4 – Fundamentals of Economics and Management
CMA Intermediate Syllabus
Paper 5 – Company Accounts & Audit
Paper 6 – Indirect Taxation
Paper 7 – Cost and Management Accounting
Paper 8 – Operation Management Information System
Paper 9 – Cost accounting and financial management
Paper 10 – Direct Taxation
Paper 11 – Laws, Ethics and Governance
Paper 12 – Financial Accounting
CMA Final Syllabus
Paper 13 – Financial Analysis & Business Valuation
Paper 14 – Cost and Management Audit
Paper 15 – Corporate Financial Reporting
Paper 16 – Strategic Performance Management
Paper 17 – Tax Management and Practice
Paper 18 – Business Strategy & Strategic Cost Management
Paper 19 – Advanced Financial Management
Paper 20 – Corporate Laws and Compliance
Career Opportunities & Job Profiles
After completion of the course, you can work as a certified CMA in companies and earn quite a handsome salary. You can start your career with 6-7 LPA, and with some experience, you can easily earn around 12- 18 LPA.
Chief Financial Officer (CFO), Financial Analyst, Financial Controller, Chief Investment Officer are the top job profiles after CMA.
CMA-certified candidates are employed in every organization be it private or public sector undertakings. Some of the renowned companies where CMA can work are:
- Bank of America
- Johnson & Johnson
- Saudi Aramco
This article consists of all important details regarding Cost and Management Accounting or CMA. Candidates should check all the details carefully and then proceed with the registration process.