CMA stands for Cost and Management Accounting. The Institute of Cost and Management Accountants of India (ICMAI) offers the CMA certificate programme. The CMA course is becoming increasingly popular among commerce students who want to work in the field of Cost and Management Accounting.
The Institute of Cost and Management Accountants of India (ICMAI) is the CMA regulatory body in India, responsible for inviting registration forms, conducting exams, and managing the syllabus and pattern of the CMA course.
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 2023 and for December Term Examination should apply before 31st July 2023.
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 set course duration for CMA; you can complete the course in as little as 6 months and as much as 3-4 years. Candidates can advance through the levels based on their ability, dedication, and hard work. Students typically take three years to complete the course.
CMA Course Registration Fees is given below:
|Foundation Course||Rs. 6000|
|Intermediate Course||Rs. 23100|
|Final Course||Rs. 25000|
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
Candidates must have qualified commerce examination from Qualified National Diploma by AICTE or State Board of Technical 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. Or, Candidates must have cleared the CA foundation exam or intermediate exam of CA.
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 Laws and Business Communication (FBLC)|
|Paper 2||Fundamentals of Financial and Cost Accounting (FFCA)|
|Paper 3||Fundamentals of Business Mathematics and Statistics (FBMS)|
|Paper 4||Fundamentals of Business Economics and Management (FBEM)|
CMA Intermediate Syllabus
|Group – I||Paper 5||Business Laws and Ethics (BLE)|
|Paper 6||Financial Accounting (FA)|
|Paper 7||Direct and Indirect Taxation (DITX)|
|Paper 8||Cost Accounting (CA)|
|Group – II||Paper 9||Operations Management and Strategic Management (OMSM)|
|Paper 10||Corporate Accounting and Auditing (CAA)|
|Paper 11||Financial Management and Business Data Analytics (FMDA)|
|Paper 12||Management Accounting (MA)|
CMA Final Syllabus
|Group – III||Paper 13||Corporate and Economic Laws (CEL)|
|Paper 14||Strategic Financial Management (SFM)|
|Paper 15||Direct Tax Laws and International Taxation (DIT)|
|Paper 16||Strategic Cost Management (SCM)|
|Group – IV||Paper 17||Cost and Management Audit (CMAD)|
|Paper 18||Corporate Financial Reporting (CFR)|
|Paper 19||Indirect Tax Laws and Practice (ITLP)|
|Electives||Paper 20 A||Strategic Performance Management and Business Valuation (SPMBV)|
|Paper 20 B||Risk Management in Banking and Insurance (RMBI)|
|Paper 20 C||Entrepreneurship and Start-up (ENTS)|
Career Opportunities & Job Profiles
After completing the course, you will be able to work as a certified CMA in companies and can earn a good salary. You can begin your career with a package of 6-7 LPA and quickly advance to 12- 18 LPA with experience.
Chief Financial Officer (CFO), Financial Analyst, Financial Controller, Chief Investment Officer are the top job profiles after CMA.
CMA-certified candidates are employed in all organisations, whether private or public. CMA can work for some well-known companies, including:
- 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.
CMA Course FAQs
CMA stands for Certified Management Accounting. It is a certificate program offered by the Institute of Cost and Management Accountants of India (ICMAI)
The annual salary range after completing CMA in India can go around 2.5LPA-30LPA.
It takes 3 years to complete CMA.
There is no fixed course duration for CMA, you can complete the course minimum in 6 months to 3-4 years.