CMA Course Details 2024
ICMAI provides CMA course which has three levels as follows:
- CMA Foundation
- CMA Inter
- CMA Final
The Institute of Cost Accountants of India (formerly The Institute of Cost and Works Accountants of India) was founded in 1944 as a registered business under the Companies Act with the mission of promoting, regulating, and growing the field of cost accounting.
A special act of Parliament, the Cost and Works Accountants Act, 1959, established the Institute on May 28, 1959 as a statutory professional organization for the regulation of the profession of cost and management accounting. Student can visit www.icmai.org
Since then, it has continued to contribute to the country's industrial and economic development.
The Institute of Cost Accountants of India (ICAI) is India's only statutory professional organization and licensing body dedicated solely to cost and management accounting formerly it was called as Institute of Cost & Works Accountant.
A cost accountant is someone who provides or promises to provide services involving the costing or pricing of goods and services, as well as the creation, verification, or certification of cost accounting and associated statements.
The organization's headquarters are located at 12, Sudder Street, Kolkata 700 016, and it operates through four regional councils in Kolkata, Chennai, Delhi, and Mumbai, as well as a number of prominent chapters throughout India and internationally.
Career Goals of CMA- ICMAI Institute
Develop the cost and management accounting function as a powerful management control tool in all economic activities.
The adoption of scientific methods in cost and management accounting should be promoted and developed.
In the context of the developing economy, to develop the professional body of members and fully equip them to discharge their functions and achieve the Institute's objectives.
Keeping up with the newest advancements in cost and management accounting principles and practices, as well as incorporating such changes, is critical for the industry's and other economic activities' long-term viability.
To supervise newcomers to the profession and to ensure that the profession adheres to the highest ethical standards possible.
To hold seminars and conferences on professional topics in various parts of the country in order to promote cross-fertilization of ideas and professional advancement.
To conduct research and publication operations in a variety of economic fields, as well as the publication of books and booklets, in order to disseminate knowledge of professional interest to members in Indian and international industrial, educational, and commercial organizations.
What is CMA? 2024
CMA (Cost and Management Accounting) is an abbreviation for Cost and Management Accounting. CMA courses are designed to develop young minds into tomorrow's business leaders, thus selecting CMA as a career path is a wonderful idea.
The CMA course is currently getting a lot of traction among commerce students, especially those who aspire to make it big in the field of cost and management accounting. If you're interested in learning more about the course, keep reading to learn everything there is to know about the CMA course in India.
Note: It's common for individuals to mix up terminology like ICWAI, ICWA, ICMAI, and CMA. So, to clear up any confusion, let us state that the only difference between ICWAI and ICMAI is the name. The ICWAI (Indian Institute of Cost and Works Accountants) has been renamed the ICMAI (Institute of Cost Accountants of India). In addition, the ICWA course has been renamed CMA.
CMA Course Duration 2024
CMA course has three levels which are:
- CMA Foundation
- CMA Intermediate
- CMA Final
The duration of the course is 3 years with Article ship training period of 15 months.
ICWA | CMA Job Scope 2024:
You can begin your career as a Cost Accountant after completing the ICWA course. Holders of an ICWA degree are in high demand in the government, corporate sector, development organizations, banking and finance, and education and training sectors. Demand for cost and management professionals is continually increasing as the economy advances.
Consultancy businesses, developmental agencies, corporate affairs departments, training and research organizations, the service industry, stock exchanges, the public utility sector, and other regulatory authorities are all attractive places to look for work.
Job Titles:
- Cost Accountant
- Finance Director
- Managing Director
- Associate Professor
- Accountant
- Cost Controller
- Chief Auditor
- Chief Accountant
- Chief Internal Auditor
- Financial Consultant
- Managing Director
- Financial Controller
CMA Career Opportunities and Salary- 2024.
A career after becoming a Cost & Management professional can be very lucrative. Here are some of the job roles that you will be exploring after completing the CMA course along with approximate salaries.
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Roles/ Titles/ Types
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Salary (Annual)
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Chief Financial Officer (CFO)
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Upto 10.5 LPA
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Financial Analyst
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Upto INR 12.5 LPA
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Corporate Controller
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INR 7.4 LPA to INR 12.5 LPA
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Financial Controller
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INR 6 LPA to INR 12 LPA
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Chief Investment Officer
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Upto INR 15 LPA
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CMA - Eligibility Criteria 2024
For pursuing CMA Foundation, CMA Intermediate & CMA Final the eligibility criteria are as follows:
The requirements for every stage are mentioned below.
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CMA Foundation Level
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CMA Intermediate Level
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CMA Final Level
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The aspirant must have completed Class 10 or equivalent level of education from the recognized board.
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For the intermediate level. The student must have completed Class 12 of education from the recognized board.
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To become eligible for the CMA Final level, Student must have passed the intermediate level.
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The candidate must also have passed your Senior Secondary Examination (10+2) or equivalent From a recognized examination board.
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The aspirant should have passed the Foundation course from the Institute of Cost Accountants of India (ICAI).
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Other than that if you hold a National Diploma in Commerce Education by AICTE or any State Board of Technical Education, you will be considered eligible.
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The student must also hold an undergraduate degree in any discipline except Fine Arts.
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CMA Syllabus and Subjects 2024
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CMA Level
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Subjects
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CMA Foundation Subjects
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Fundamentals of Economics And Management
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Fundamentals of Accounting
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Fundamentals of Laws and Ethics
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Fundamentals of Business Mathematics and Statistics
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CMA Intermediate Subjects :
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Group 1
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Financial Accounting (FA)
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Business Laws & Ethics (BLE)
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Direct & Indirect Taxation (DITX)
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Cost Accounting (CA)
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Group 2
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Operations Management & Strategic Management (OMSM)
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Corporate Accounting & Auditing (CAA)
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Financial Management & Business Data Analytics (FMDA)
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Management Accounting (MA)
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CMA Final Subjects
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Group 3
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Corporate Laws & Compliance
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Strategic Financial Management
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Strategic Cost Management – Decision Making
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Direct Tax Laws and International Taxation
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Group 4
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Corporate Financial Reporting
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Indirect Tax Laws and Practice
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Cost and Management Audit
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Strategic Performance Management and Business Valuation
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CMA Training Structure 2024
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Particulars
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CMA Practical Training Scheme
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Duration of CMA Training Period
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For CMA Training 15 months is mandatory [for every student having registered for the intermediate course on or after 11th February, 2020]
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Details of the CMA Practical Training
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Developing necessary skill-sets among the students enabling them to apply theoretical knowledge of cost and management accounting to practical situations in various professional fields
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Providing practical exposure to the eco-system under which different organizations operate
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Providing on-job experience of practical and contemporary aspects of cost and management accounting arena
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Developing disciplined attitude required to grow as a professional
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Creating awareness and consciousness on ethical values in professional journey
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Organizations Recognized for Practical Training [Appendix – A]
A Cost & Management Trainee shall undergo practical training under:
Practicing Cost Accountant or
a firm of Cost Accountants or
in any of the following organizations:
- Central/State Government / Semi-Government / Public Utilities.
- Banks/Insurance/ other Financial Institution
- Public Sector Undertakings
- Universities, Management Institutes and any other recognized educational institute
- Co-operative societies and NGOs
- If the firm of Chartered Accountants/ Company Secretaries has separate Management Consultancy Division and if the applicant has exclusively worked in that division, credence to such service is given on percentage basis depending on the nature of job related with cost/ management accounting/ financial accounting/ taxation/ MIS or of similar nature, size of the firm, nature of duties handled by the applicant, size of the client companies etc. [CA/CS Articleship will not be set off / entertained / not recognized for CMA Practical Training]
- Management Consultant in individual capacity depending on the size of the firm, nature of duties handled by the applicant related with cost and management accounting/ financial accounting/ taxation/ MIS or of similar nature, size of the client companies etc.
- Any other organization(s) with a turnover of Rs.25 Lakhs in case service sector or Rs.50 Lakhs in case of other than service sector.
- Any other organization(s) as approved by the Council.
Recognized areas for CMA Training [Appendix – B]
- Management Accounting
- Cost Accounting
- Financial Accounting
- Financial Management
- Auditing
- Regulatory compliances
- Direct Taxation
- Indirect taxation
- Corporate Laws, Industrial Laws, Commercial Laws
- Systems Analysis, Information Technology (including ERP system)
- Project Management
- Banking Operation
- Insurance
- Insolvency & Valuation
- Financial Services
- Teaching in Finance, Accounts, Costing, Taxation and Management.
- Management Consultancy Services as defined in appendix 6 under Regulation 111 of CWA Regulation, 1959.
- Engineering Services involved in production of power or any manufacturing activities, Project Planning & Management, Quality Assessment, and Supply Chain Management.
- Any other areas approved by the Council.
CMA Course Fees 2024
The details of registration fees for CMA Foundation, CMA Intermediate, and CMA Final course is mentioned below:
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Level of Course
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Amount (in Rs.)
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CMA Foundation
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6,000/-
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CMA Intermediate
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22,000/-
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CMA Final
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25,000/-
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CMA Registration & Important Dates 2024
Admission to the ICAI foundation course is available throughout the year. Students who wish to sit for the June Term Examination must apply by the 31st of January of that year, and students who wish to sit for the December Term Examination must apply by the 31st of July of that year.
How can I register for CMA course?
Candidates can register in the CMA program entirely online. For a successful registration in the course, complete the procedures below:
- Go to the institute's official website and look for the CMA registration process.www.icmai.org
- Fill in all of the essential information and then click Save and Continue.
- Click submit when you've uploaded all of the necessary documents for registration.
- Use an online payment option to pay for your course costs.
- To save time in the future, print the application form.
Documents necessary for registration include the following:
- a passport-size photograph
- Signature of a specimen
- tenth grade Class 12th Mark sheets, Graduation Certificates, and Mark sheets (if applicable)
- Intermediate CMA Pass (both Group-I & Group-II) Certificate/Mark sheet (For candidates applying for CMA Final Course)
CMA Study Materials-2024
The CMA course requires a great deal of effort and dedication. While preparing for the CMA exam, students need to focus on the materials provided by the institute. In addition to learning materials, participation in online test series is also recommended to improve exam performance. Candidates are also suggested to the previous year's questions and answers available on the Institute's website. The study materials for all levels & all subjects are available at the Institute website in Pdf format for the convenience of the student.
CMA Exam Details 2024
Application Form Candidates must apply for the application process by the undergraduate, mid-term, and final exam deadlines.
- You can submit the exam / application as follows:
- Access the ICMAI official website https://icmai.in/
- Click the Permissions tab.
- Click on the course you want to apply for Please fill in details such as personal information, address information, credentials, etc.
- Please pay the registration fee for each course and submit the registration form.
CMA Exam Application Fee:
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CMA EXAMINATION
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CMA EXAM APPLICATION FEE (INDIA)(In Rs.)
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CMA EXAM APPLICATION FEE (OVERSEAS) (In USD)
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CMA Foundation Course
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1,200/-
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60
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CMA Intermediate Course (Single Group)
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1,200/-
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90
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CMA Intermediate Course (Both Groups)
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2,400/-
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90
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CMA Final Course (Single Group)
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1,400/-
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100
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CMA Final Course (Both Groups)
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2,800/-
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100
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CMA EXAM SCHEDULE 2024
CMA exams are held twice a year in June and December. Students wishing to attend the June semester exam must register by January 31st of this year and the December exam by July 31st of this year.
CMA EXAM Pattern 2024
CMA Exam is conducted online in descriptive & objective mode exam, each subject weighs 100 points and each paper takes 3 hours to complete.
CMA Exam Admit Card 2024
The CMA Institute will issue an admission permit to candidates 15 days prior to the exam. Candidates must download the admission card and bring it to the exam center with a government-approved photo ID.
How do I download the CMA Admit Card? 2024
- Visit the official website: icmai.in/studentswebsite/index.php
- Click the tab from the drop-down menu, select Allow Cards
- Click on the displayed exam
- Click Print Ticket CMA Admit Card
CMA Admit Card Contents
- Candidate Names
- Candidate signature and photo
- Role number
- Time and test center
- Exam procedure
- Supervisor signing space
CMA Results 2024
To qualify for the CMA exam, candidates must score at least 40% in each subject and at least 50% overall.
How can I check the CMA results 2024?
The results of the CMA are posted on the institute's website and can be confirmed as follows.
- Go to the official website: icmai.in/studentswebsite/index.php
- Click the tab Select the Results option from the drop-down menu Click on the exam you participated in
- Enter your identification number and click View Results
CMA Classes Coimbatore Tamilnadu 2024
Candidates can prepare for a CMA course through self-study or coaching. However, we recommend that you enroll in the course so that you do not have any problems preparing for the CMA course. The class not only helps clarify all the concepts, but also provides guidance to get you ready in the right direction. You can also enroll in a CMA course offered by Ara Education, the platform of choice for CMA preparation. You can learn from the best educators at Ara Education in online / offline from the comfort of your home. There are compelling HD videos, student notes, and exam-style Model exams that you can access at any time. In addition, you will receive learning materials and summary notes to help you make last-minute revisions.
Best CMA Online Coaching Classes in Coimbatore
Online CA Coaching at Ara Education strive to bring a combination of practical application and academic experience to our students by giving them a board of esteemed faculty all with relevant corporate experiences
Over the past few years Ara Education there has been producing a perceptible and ostensible excellence in our results. Ara Education provides personalized attention given to students irrespective of their ground or caliber.
Ara Education’s past and present academic results and social activities is the undisputable proof for our success in the education industry.
CMA or CA which is best?
Candidates seeking a financial career are attracted to CA or CMA courses. However, the CMA course has become extremely popular in recent years. After completing both courses, you will have different options.
CMA New Syllabus Change Updation 2024 Applied For JUNE 2024 :
The CMA syllabus for 2024 will be in effect from the June 2024 term of examinations onwards. Students enrolled in the final course are required to submit a one-time option about selecting the “paper elective”, the 2016 syllabus will continue until the December 2024 semester. 6 months prior to the examination for necessary verification and approval. Once their request for conversion is accepted, students who have already completed their studies under the Syllabus 2024 curriculum must purchase necessary Study Materials under the new curriculum at prescribed prices.
CMA NEW SYLLABUS, SUBJECTS, EXAM PATTERN 2024
The Institute of Cost Accountants of India Council approved “CMA Syllabus – 2024”. The Institute is bringing this future-ready curriculum for the aspiring Cost & Management Accountants in the emerging global business eco-system. This new curriculum shall be effective from August 2024 to appear June 2024 term of examinations on onwards
CMA COURSE STRUCTURE - SYLLABUS 2024
CMA Foundation New Syllabus 2024 :
FOUNDATION COURSE [TOTAL MARKS: 400]
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 New Syllabus 2024
INTERMEDIATE COURSE [TOTAL MARKS: 800]
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 New Syllabus 2024:
FINAL COURSE [TOTAL MARKS: 800]
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 20A: STRATEGIC PERFORMANCE MANAGEMENT AND BUSINESS VALUATION (SPMBV)
PAPER 20B: RISK MANAGEMENT IN BANKING AND INSURANCE (RMBI)
PAPER 20C: ENTREPRENEURSHIP AND START UP (ENTS)
Note: Students will be required to select any one of three Elective Papers (20A/20B/20C) at the time of enrolment for the Final Course
