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All about CMA Course, Eligibility, Fee, and Career Scope


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In this ever-changing job market, being able to differentiate oneself is a must. This goes the same for the Finance industry, too. If you’re looking to build a career in Finance, then CMA India can be your strong differentiator. According to a DNA India article, people with CMA certification can earn 62% more than those with a basic accounting degree.  


CMA stands for Cost and Management Accountants (CMA). The Cost and Management Accountants (CMA) course in India is offered and managed by the Institute of Cost Accountants of India. It was previously referred to as CWA, which stands for Cost and Works Accounting. 


 While studying for the CMA Course tests, you will learn about cost accounting principles and how to apply them in real-world circumstances. After becoming a CMA, you can work in either the government or the commercial sector. Popular job titles include CFO, Financial Analyst, Corporate Controller, Cost Accountant, and Management Accountant.  


If you are interested in finance or management accounting and wish to manage an organization's overall costs, consider taking the CMA course. 


This guide contains comprehensive information on the CMA course, including eligibility, registration procedures, costs, duration, three levels, curriculum, salary prospects, and job opportunities. 


What is the CMA course?  


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The Institute of Cost Accountants of India offers a professional certification course called CMA (Cost and Management Accountants). 


It has Three levels: Foundation, Intermediate, and Final. To become a certified Cost and Management Accountants (CMA), you must finish all three levels and meet the practical training requirements. 


This course will teach you important topics including cost control, financial planning, financial analysis, cost analysis, and decision-making. Certification requirements for the CMA course differ by country.  


This comprehensive resource contains all you need to know about the CMA course.  


CMA Course Details  


Now, let us understand the course details of Cost and Management Accountants (CMA) INDIA  

Particulars  

CMA Course details 

CMA Full Form 

Cost and Management Accountants

Offered By 

Institute of Cost Accountants of India (ICMAI) 

Eligibility Criteria 

Passed 12th with a minimum of 50% or Cleared Graduation 

Course Levels 

Three- Foundation, Intermediate & Final 

Total Papers 

20 Papers 

CMA Course Duration 

Three years 

CMA Course Fees 

Rs. 1-2 Lakhs 

CMA Salary in India 

10 Lakhs pa 

Official Website 

Job Opportunities 

Chief Financial Officer, Financial Analyst, Corporate Controller, Cost Accountant, Management Accountant, Auditor 

 

Three Levels of Cost and Management Accountants Courses  


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  • CMA Foundation  

The CMA Foundation is the first level, where students learn the course including fundamentals of cost and management accounting. This course level lasts 8 months, and passing the exam requires a minimum of 40%. 

 

  • CMA Intermediate  

Intermediate students will learn more about financial and cost accounting, and taxation, on this course. There are eight publications in total, separated into two groups in Cost and Management Accountants (CMA).  

 

  •  CMA Final  

The CMA Final is the most difficult part of the Cost and Management Accounting course. You'll learn about various regulations, cost and financial management, reporting, auditing, and other in-depth topics.  

 

In addition to study, students must conduct practical training, which is critical for building necessary abilities in communication, stress management, time management, and other areas in this course.  

 

 CMA Course: Practical Training  

  • Exposure to Work Environments: Get hands-on experience in various settings through this course.  

  • Skill Development: Develop the ability to apply CMA theoretical knowledge to real-world business scenarios.  

  • Professional Attitude: Choosing this course encourages a professional and disciplined approach, which is crucial in this industry.  

  • Ethical Awareness: Understand the significance of ethical ideals in the business environment.  


To be recognized, every student enrolled in the Cost and Management Accountants (CMA) course must complete three years of full-time practical training in an organization designated in Appendix A and regions indicated in Appendix B.  


Cost and Management Accountants (CMA) Course Duration


The Cost and Management Accountants (CMA) course takes three years to complete. During this time, students must complete three levels: CMA Foundation, CMA Intermediate, and CMA Final. 

 Graduate students, such as those with a BCom degree, are exempt from the Foundation Level and can complete the course in at least 2.5 years.  


What are Cost and Management Accountants (CMA) Course Levels and Duration?


  • CMA Foundation: 8 months 

  • CMA Intermediate: 10 months 

  • CMA Final: 18 months (about 1 and a half years) 

 

What is the Eligibility for Cost and Management Accountants (CMA) Course? 


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Students who have completed the 12th grade, graduated in a discipline other than fine arts, or passed the Intermediate level of ICAI are eligible to apply for this course Cost and Management Accountants (CMA)  programme. 


 The eligibility requirements for pursuing the Cost and Management Accountants (CMA) course differ according to level. The following are the qualifications required for each level:  


Cost and Management Accountants (CMA) Eligibility Criteria 

 Cost and Management Accountants (CMA) Foundation Eligibility Criteria: 

  • Must have completed high school or equivalent from a recognized board. 

  • Must possess a 10+2 certificate from a recognized board. 

  • Commerce Examination from Qualified National Diploma by AICTE or State Board of Technical Education. 

  • Diploma in Rural Service Examination under National Council for Higher Education. 

  • There is no upper age limit specified by ICMAI, but applicants must be at least 18 years old. 

 

Cost and Management Accountants (CMA) Intermediate Eligibility Criteria: 

  • Cleared the 10+2 exams. 

  • Cleared the CMA Foundation exams. 

  • Passed Part 1 of the CAT exam of the Institute of Cost Accountants of India. 

  • Should have a bachelor's degree (except in fine arts). 

  • Cleared CA Foundation of ICSI or the Intermediate level of CA. 

 

Cost and Management Accountants (CMA) Final Eligibility Criteria: 

  • Cleared CMA Intermediate Parts 1 and 2. 

  • Completed the training required for the CMA Final. 

 

Cost and Management Accountants (CMA) Course Fees 2024 


CMA Course Level 

CMA Course Fees 

CMA Foundation Fees 

Rs. 6000 

CMA Intermediate Fees (Full) 

Rs. 23,100 

CMA Inter Fees (Installment) 

Rs. 12,000 + Rs. 11,100 

CMA Final Fees (Full) 

Rs. 25,000 

CMA Final Fees (Installment) 

Rs. 15,000 + Rs. 10,000 

 

The CMA course fees in India are different for each level. Now, let’s check the fees for CMA Foundation, Intermediate, and Final levels 


CMA Foundation Course Fees 

The fee for the CMA Foundation course is INR 6000. 


CMA Intermediate Level fees 

Option 

Particular 

Fees 

CMA Intermediate (full) 

INR 23,100/- 

CMA Intermediate (in instalment) 

INR 12,000/- (1st instalment) INR 11,100/- (2nd instalment) 

 

CMA Final Level Fees 

Option 

Particular 

Fees 

CMA Final (full) 

INR 25,000/- 

CMA Final (in instalment) 

INR 15,000/- (1st instalment) INR 10,000/- (2nd instalment) 

 

Source for the above information - https://icmai.in/icmai/  

 

How to Register for the CMA Course 


To register for the CMA Foundation/Intermediate/Final course, follow these steps: 


  • Visit the official website of ICMAI. 

  • Click on the "Students" tab in the menu. 

  • Select "Online Admission." You will be directed to the Online Student Registration System page. 

  • Choose the CMA Foundation/Intermediate/Final course option. 

  • Click on "Read More" below each course for detailed information on eligibility, fees, and study materials. 

  • Click the "Apply" button and fill out the required information. You will receive an OTP on your registered email. 

  • Validate the OTP and complete the remaining details. Ensure all information is accurate and double-check before submission. 

  • Upload the necessary documents as specified. 

  • Pay the CMA fees online and download the confirmation receipt. Keep it safe for future reference. 

 

Important Dates for CMA Registration 


Registration for CMA exams is ongoing, but students must complete the registration form by specific deadlines: 

  • For June exams: Last date is January 31. 

  • For December exams: Last date is July 31. 


Documents Required for CMA Course Registration 


For CMA Foundation registration, the following documents are required: 

  • Passport Photo (JPG/JPEG | 200 KB) 

  • Specimen Signature (JPG/JPEG | 100 KB) 

  • Age Proof (PDF | 300 KB) 

  • 10th Pass Marksheet (PDF | 300 KB) 

  • 12th Pass Marksheet (PDF | 300 KB) 

 

CMA Exam Form 


After registering for the CMA course, applicants must fill out the CMA exam form to be eligible to take the exams for that attempt. 


Procedure to Fill Out the CMA Exam Form 


To fill out the CMA exam form for CMA Foundation/Intermediate/Final, follow these steps: 


  • Visit the official website of ICMAI. 

  • Click on the "Students" tab in the menu to open a new tab. 

  • Scroll down to the bottom of the page. On the right side, you will find the option for "Online Exam Application Form." 

  • Click on the "Online Application" link on the new page. 

  • Select your desired course from the drop-down menu and proceed to enter your details on the exam form. 

  • Upload the required documents as specified. 

  • Choose your preferred payment option, complete the payment, and retain the receipt for future reference. 


The CMA exam form can only be submitted online via the official website of ICMAI. 


CMA Application Fees Structure  

Below find all the fee details about the CMA exam form: 

Course Level 

Exam Form Fee in India 

Exam Form Fee Overseas 

Foundation course 

INR 1,200 

USD 60 

Intermediate course (Group I or II) 

INR 1,200 

USD 90 

Intermediate course (both groups) 

INR 2,400 

– 

Final course (Group I or II) 

INR 1,400 

USD 100 

Final course (combination groups) 

INR 2,800 

– 

 

Scope of CMA  


  • High Growth Potential 

The CMA certification positions you at a management level, opening doors to increased responsibilities and oversight of financial accounts and operations. 

 

  • Well-Paid Salary Packages 

CMA-certified professionals command higher compensation due to their ability to quickly advance into management roles and their high demand in the job market, ensuring significant pay raises even when changing employers. 

 

  • Huge Global Opportunities 

CMA accreditation carries global recognition, making it valuable for career opportunities abroad. Whether seeking better pay or industry exposure in different countries, CMAs benefit from its worldwide acceptance and respect. 

 

  • High Demand 

CMAs are highly sought-after for their expertise in accounting and business, making them desirable candidates for employment, especially in multinational corporations. 

 

  • Comprehensive Knowledge of Accounting & Business 

CMA graduates possess extensive knowledge of both business operations and accounting principles, distinguishing them in the job market by their ability to integrate financial insights into strategic business decisions. 

 

Cost and Management Accountant Salaries in India  

 

Cost and management accounting are among the most profitable careers in India. Here are the compensation ranges for CMAs in India, according to several sites such as Ambition Box and Glassdoor: 

  • Average annual salary: INR 6.5 lacs.  

  • highest salary: INR 50 lacs per annum  

  • Lowest annual salary: INR 4 Lacs  

 

CMAs' starting salaries normally vary between INR 4-5 Lacs per year, while experienced CMAs can earn between INR 10-12 Lacs. Salaries vary depending on the work position, region, and amount of experience.  


Career Scope after CMA 


The employment prospects in CMA are wide. Graduates of the CMA programme can pursue top management jobs in both the public and private sectors. The comprehensive curriculum provides applicants with in-depth understanding of business, accounting, management, finance, law, and other topics, increasing their chances of landing outstanding jobs around the world.  

Certified CMAs can flourish in a variety of finance and management professions across multiple industries. CMAs are highly valued by organizations such as research institutes, consulting businesses, financial organizations, governments, public utilities, and stock exchanges. Some noteworthy job roles after completing the CMA include: 


Job Roles for CMA Professionals 

  • Cost Accountant 

  • Chief Financial Officer 

  • Chief Internal Auditor 

  • Managing Director 

  • Finance Director 

  • Financial Consultant 

  • Cost Controller 

  • Financial Controller 

  • Accountant 

 


Conclusion: 

That’s all about the CMA (Cost and Management Accountant) course offered by the Institute of Cost Accountants of India (ICMAI). Earning this prestigious certificate can unlock diverse career opportunities in both public and private sectors, holding positions such as CFO, Financial Analyst, and Cost Accountant. With its global recognition and significant salary potential, CMA certification stands out as an asset for finance and management professionals worldwide. We hope we have provided you with clarity. So, if you are ready to build a rewarding career in Finance, CMA India is worth your serious consideration! 

  

FAQs on CMA Details

What is CMA? 

CMA stands for Cost and Management Accountancy, a professional certification offered by ICMAI in India, previously known as CWA (Cost and Works Accounting). 

What are the eligibility criteria for the CMA course? 

How long does it take to complete the CMA course? 

What are the career prospects after completing CMA? 

What is the salary range for CMAs in India? 


 


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