Table of Contents
What is CMA Course
CMA stands for Cost and Management Accounting and is designed to encourage youngsters to become tomorrow’s business leaders. It is a great career option for the young generation nowadays.
These days, students studying commerce, particularly those who aspire to become successful in the field of cost and management accounting, are taking a lot of interest in the CMA course. If you’re also interested in learning more about the course details, course fee, eligibility criteria, duration, levels, and many more, stay tuned with us to learn everything there is to know about the CMA program in India.
The CMA course is designed for professionals involved in management accounting and financial accounting.
Levels, Duration and Syllabus of CMA Course
There are three levels in the CMA course
- Foundation
- Intermediate
- Final
The duration of the CMA course is three years. Each level can take at least six to twelve months to finish, depending on your commitment and study speed.
In addition to the three levels I indicated previously, let’s examine the specific topics covered at each level in more detail:
CMA Foundation
The CMA course begins at the foundation level. This introduces the students to the basic concepts and principles of cost and management accounting.
There are four papers at this level, and they are:
Paper 1: Fundamentals of Business Laws and Business Communication
Paper 2: Fundamentals of Financial and Cost Management
Paper 3: Fundamentals of Business Mathematics and Statistics
Paper 4: Fundamentals of Business Economics and Management
The duration of the foundation level is a minimum of 8 months. To finish this level, students take two years.
CMA Intermediate
This is the next level after the foundation level. This level enhances the knowledge gained at the foundation level. It provides students with in-depth knowledge about cost and management accounting so that they can understand more about the course.
The minimum CMA duration of the intermediate level is 10 months, and students can take three years to complete this level.
There are eight papers, which are divided into two groups:
Group 1:
Paper 5: Business Laws and Ethics
Paper 6: Financial Accounting
Paper 7: Direct and Indirect Taxation
Section A: Direct Tax
Section B: Indirect Tax
Paper 8: Cost Accounting
Group 2:
Paper 9: Operations Management and Strategic Management
Paper 10: Corporate Accounting and Auditing
Paper 11: Financial Management and Business Data Analysis
Paper 12: Management Accounting
CMA Final
This is the final level of the CMA course. It covers advanced topics in cost and management accounting, such as strategic cost, cost management, performance management, and corporate governance.
The minimum CMA duration for the final level is 18 years. Although students can take up to 4 years to complete this level.
This level also consists of two groups and each group is further divided into four papers:
Group 3:
Paper 13: Corporate and Economic Laws
Paper 14: Strategic Financial Management
Paper 15: Direct Tax Law and International Taxation
Paper 16: Strategic Cost Management
Group 4:
Paper 17:Cost and Management Audit
Paper 18:Corporate Financial Reporting
Paper 19: Income Tax Law and Practice
Paper 20 A: Strategic Performance and Business Valuation
Paper 20 A: Risk Management in Banking and Insurance
Paper 20 A: Entrepreneurship and Start-up
Eligibility Criteria for CMA Course
Before applying for the CMA exam, you must be aware of the requirements for admission.
The eligibility criteria for CMA at different levels are
CMA Foundation Eligibility Criteria
- An aspirant must have passed class 10 or equivalent; this was the basic requirement for the candidate who wanted to aim for the CMA course.
- A candidate must have passed senior secondary education under 10+12 from any recognized board in India or passed the National Diploma in Commerce Examination held by the All India Council for Technical Education.
- They should pass their diploma in rural service examination, which is conducted by the National Council for Rural Higher Education.
CMA Intermeditae Eligibility Criteria
- First of all, the candidate must clear the foundation exam, which is the first step of the CMA course.
- A candidate should also register after their graduation from a recognized university in India or abroad.
- And as mentioned above, pass the senior secondary school examination or higher secondary examination (10+2).
CMA Final Eligibility Criteria
The most important requirement for the final exam is to clear the intermediate level. And completion of 15 months of practical training.
CMA Result
To be eligible for CMA examinations, an applicant must receive at least 40% in each subject and, overall, an aggregate of 50%.
To check the CMA results, you can visit the official website: icmai.in/studentswebsite/index.php.
- Then click on the examination tab
- Select the ‘result’ option
- Select the examination in which you appear
- Then enter your identification number and tap View Results.
- Then the result will appear on your screen
CMA Exam details
Before the deadline for the Foundation, Intermediate, and Final Examinations, candidates must apply. The CMA (Certified Management Accountant) course exams are conducted by the Institute of Management Accountants (IMA). Exams are offered twice a year, in January/February and July/August.
To submit the application and examination for CMA, the process listed below can be used:
- Visit the official website of ICMAI-https://icmai.in/
- Click on the Admission tab
- Then click on the course that you want to apply for
- details, and fill in the details, including personal details, address details, and qualification details
- Go ahead with the payment of the application fee for your relevant course and submit the form.
Application fees:
EXAMINATION | APPLICATION FEE (INDIA) (In Rs.) |
Foundation Course | 1,200/- |
Intermediate Course (Single Group) | 1,200/- |
Intermediate Course (Both Groups) | 2,400/- |
Final Course (Single Group) | 1,400/- |
Final Course (Both Groups) | 2,800/- |
Each part of the CMA exam (parts 1 and 2) has a minimum passing score of 360 out of 500. It is important to understand that the score is divided between 75% multiple-choice questions (MCQs) and 25% essay questions. You need to score at least 50% on the MCQs to move on to the essay section.
Here are some additional points to consider:
- The average passing rate for the CMA exam is around 45%.
- If you fail the exam the first time, you can retake either section.
CMA Registration
For the June term exam, a candidate must apply before the 31st of January, and for the December term exam, a candidate must apply before the 31st of July.
The course fee details for the CMA Foundation, Intermediate, and Final course examinations are:
Level of Course | Amount (in Rs.) |
Foundation | 6,000/- |
Intermediate | 22,000/- |
Final | 25,000/- |
CMA Exam Admit Card
The CMA institutes issue admit cards to their candidates 15 days before the examination.
How do we download the admit card for the CMA exam?
- Visit the official website: icmai.in/studentswebsite/index.php
- Tap on the examination tab option
- Then select the ‘admit card’ option
- Click on the examination for which you appear
Job Opportunities After CMA
- Cost Accountant
- Financial Controller
- Chief Financial Officer
- Financial Analyst
- Internal Auditor
- Financial Risk Manager
- Senior Accountant
- Finance Manager
- Business Analyst
- Financial planner
- Management Accountant
- Cost Manager
- Relationship Manager
- Treasurer
- Financial Accounting
- Financial reporting
- Forecasting
- Insurance and real estate
- Management consulting
- Manufacturing
Salary for CMA
Particulars | CMA Salary per Annum | CMA Salary per Month |
Starting Salary | 6.5 Lakhs | 54,000 per month |
Least Salary | 2 Lakhs | 16,000 per month |
Highest Salary (Fresher) | 22 Lakhs | 183,000 per month |
CMA Average Salary | 10 Lakhs | 83,000 per month |
Highest CMA Salary | 55 Lakhs | 458,000 per month |
Why to choose CMA course?
FREQUENTLY ASKED QUESTIONS (FAQs)
CMA stands for Cost and Management Accounting and is a financial specialist who develops oneself in analyzing and managing the cost of a business.
The CMA helps you gain a reputation and professional identification across all over the world.
It is a descriptive exam where each subject carries a total of 100 marks and 3 hours of paper.
There is no limit to the number of attempts for the CMA examination.