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What is CMA Course?

 


Cost & Management Accounting (CMA) is a certificate course providing CMA designation to the qualifiers. The designation is a gateway to a lucrative career in business accounting. The CMA course functions on four pillars of knowledge, including Management, Regulatory Framework, Strategy, and Financial Reporting. The designation of a CMA is provided after a candidate qualifies the CMA exam all three levels. CMAs play a crucial role in budgeting, cost control, and financial decision-making processes within organizations.

 


Generally people tend to confuse between terms like ICWAI, ICWA, ICMAI and CMA. So to remove all your doubts, let us tell you that there is no difference between ICWAI and ICMAI except the name. ICWAI (Institute of Cost & Works Accountants of India) has changed its name to the ICMAI (Institute of Cost Accountants of India). Also, ICWA course has been renamed as CMA course.  

CMA Course Duration

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The CMA course is divided into three levels: Foundation, Intermediate, and Final. The total duration of the course can vary between three to four years, depending on the candidate's pace of study and whether they clear the exams in the first attempt. 

CMA Course Fee

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The fee for the CMA course varies depending on the level of study and the type of coaching opted for (postal or oral). Here's a general breakdown of the fees:

  • Foundation Course: INR 6,000
  • Intermediate Course: INR 23,100
  • Final Course:
    • Students with Graduation: INR 15,000 + 18% GST
    • Qualified CMAs: INR 18,000 + 18% GST
    • Other Professionals/Post Graduates: INR 20,000 + 18% GST
    • Important Note: It's important to refer to the official ICMAI website for the latest fee structure, as these may change. You can find the fee details on the ICMAI website here .

      CMA Course Eligibility

      .

      The eligibility criteria for the CMA India course vary depending on the level of study (Foundation, Intermediate, Final). Here's a breakdown:

      Foundation Course

      • Passed Class 10 (Require to pass 10+2 before appearing in CMA
        Examination)
      • 10+2 Pass or its equivalent (Students appearing for 10+2 also
        apply on provisional basis)


      • Intermediate Course

        • Passed CMA Foundation Examination
        • Graduates of any discipline (Students awaiting final result also
          apply on provisional basis)
        • Qualified CAT Level - I of The Institute of Cost Accountants of India
        • Qualified CA Intermediate
        • Qualified Engineers

        • Final Course

          • Qualified CMA Intermediate 
          • CMA Course Curriculum 2022

            <p><span style="font-size: 16px;font-family: Verdana;">The CMA Foundation syllabus <strong>aims to equip students with the fundamental knowledge and skills</strong> required for:</span></p>
<p></p>
            <p><span style="font-size: 16px;font-family: Verdana;">The CMA Foundation syllabus <strong>aims to equip students with the fundamental knowledge and skills</strong> required for:</span></p>
<p></p>

            The CMA Foundation syllabus aims to equip students with the fundamental knowledge and skills required for:

            • Understanding business law and communication basics.
            • Master core accounting practices.
            • Utilizing math & statistics in business.
            • Grasp core economics and management principles.
            • Prepare for CMA Intermediate course.
            • .

              Watch Free Lectures
              <p><span style="font-size: 16px;font-family: Verdana;">The CMA Foundation syllabus <strong>aims to equip students with the fundamental knowledge and skills</strong> required for:</span></p>
<p></p>
              <p><span style="font-size: 16px;font-family: Verdana;">The CMA Foundation syllabus <strong>aims to equip students with the fundamental knowledge and skills</strong> required for:</span></p>
<p></p>
              <p><span style="font-size: 16px;font-family: Verdana;">The CMA Intermediate syllabus <strong>equips students with in-depth knowledge for a career in cost and management accounting</strong>. Here's a summarized objective: </span></p>
              <p><span style="font-size: 16px;font-family: Verdana;">The CMA Intermediate syllabus <strong>equips students with in-depth knowledge for a career in cost and management accounting</strong>. Here's a summarized objective: </span></p>

              The CMA Intermediate syllabus equips students with in-depth knowledge for a career in cost and management accounting. Here's a summarized objective:

              • Master financial accounting and reporting.
              • Develop cost accounting expertise.
              • Gain proficiency in taxation.
              • Apply management accounting principles.
              • Develop business acumen.
              • Uphold ethical conduct.
              • .

                Watch Free lectures
                <p><span style="font-size: 16px;font-family: Verdana;">The CMA Intermediate syllabus <strong>equips students with in-depth knowledge for a career in cost and management accounting</strong>. Here's a summarized objective: </span></p>
                <p><span style="font-size: 16px;font-family: Verdana;">The CMA Intermediate syllabus <strong>equips students with in-depth knowledge for a career in cost and management accounting</strong>. Here's a summarized objective: </span></p>
                <p style="text-align:justify;"><span style="font-size: 16px;font-family: Verdana;">The CMA Final syllabus builds upon the knowledge from previous levels and aims to: </span></p>
                <p style="text-align:justify;"><span style="font-size: 16px;font-family: Verdana;">The CMA Final syllabus builds upon the knowledge from previous levels and aims to: </span></p>

                The CMA Final syllabus builds upon the knowledge from previous levels and aims to:

                • Refine cost accounting skills.
                • Develop strategic thinking.
                • Enhance project management expertise.
                • Master financial management.
                • Improve performance management.
                • Understand indirect taxation.
                • .

                  Watch Free Lectures
                  <p style="text-align:justify;"><span style="font-size: 16px;font-family: Verdana;">The CMA Final syllabus builds upon the knowledge from previous levels and aims to: </span></p>
                  <p style="text-align:justify;"><span style="font-size: 16px;font-family: Verdana;">The CMA Final syllabus builds upon the knowledge from previous levels and aims to: </span></p>

                  CMA Course Practical Training

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                  The CMA Course includes a mandatory practical training component. This practical training plays a crucial role in equipping you with the practical skills and experience necessary to excel in the field of cost and management accounting.

                  Here's a breakdown of the key points about CMA Course Practical Training:


                  • Duration: The practical training requires a minimum of 15 months of on-the-job experience.
                    • Who can provide training? You can undergo training under practicing Cost Accountants (PCMAs), firms of Cost Accountants, or in approved organizations as specified by ICMAI. These organizations can include:
                      • Central/State Government/Semi-Government/Public Utilities
                      • Banks/Insurance/Other Financial Institutions
                      • Public Sector Undertakings (PSUs)
                      • Universities, Management Institutes, and recognized educational institutions
                      • Co-operative societies and NGOs
                        • Training Areas: The practical training should cover various aspects of cost and management accounting, as specified in Appendix B of the ICMAI guidelines. These areas may include:
                          • Costing systems implementation
                          • Budgetary control
                          • Standard costing
                          • Management reporting
                          • Variance analysis
                          • Cost audit
                          • Taxation (as applicable to the placement)
                          • Financial statement analysis (may vary)
                            • Registration: After securing a training placement, you need to intimate ICMAI within 30 days of joining. The specific form (T-1 or T-4) depends on whether you're training under a PCMA/firm or a recognized organization.

                            • Career Opportunities for CMAs

                              .

                              CMAs (Cost & Management Accountants) qualified through the Institute of Cost Accountants of India (ICMAI) have a wide range of career opportunities across various sectors. Here's a breakdown of the promising avenues for CMAs in India:


                              • Industries: Manufacturing, IT, Banking, Government, Services, Education & Consulting.
                              • Job Roles: Cost Accountant, Management Accountant, Financial Analyst, Auditor, Project Accountant, Controller, CFO.
                              • Demand Drivers: Growing focus on cost control, versatile skillset of CMAs.
                              • Salary: Competitive and experience-dependent.


                              • By successfully completing the CMA course and gaining relevant experience, you can position yourself for a successful career in the dynamic field of cost and management accounting in India.

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