Cost & Management Accountant

What is it?

The Institute of Cost and Management Accountants of India (ICMAI) is a professional accountancy body in India. It has been given a prime responsibility by the Ministry of Corporate Affairs of the Government of India to contribute to the cost and management accounting profession at global level.

Who takes this exam?

Any student who has completed his/her 12th exam successfully can start his/her career in the Accounting field by undertaking CA exams. The student should be interested in the field of Cost and Management Accountancy in domestic as well as multinational companies.

CMA Courses Eligibility Criteria

The CMA course is divided into three primary stages- the Foundation stage, the Intermediate Stage, and the Final Stage.
Aspiring candidates must meet the eligibility criteria to emerge out as a successful ICWA candidate. The essential outline eligibility criteria for candidates are that he/she should have secured a minimum aggregate from a recognized board or institution.

Eligibility Criteria for CMA Foundation Stage
Candidates must secure a minimum aggregate in 10th from any recognized institution or board or equivalent. Candidates should have secured a minimum aggregate in 12th from any recognized board or institution or equivalent. Aspirants should be or should have completed the age of 17 years tp deem eligible.

Eligibility Criteria for CMA Intermediate Stage
Candidates should have secured a minimum aggregate in their Senior Secondary School Examination (10+2). Candidates should have secured a minimum aggregate in the Graduation/ the Foundation Course in any discipline, excluding fine arts.

Eligibility Criteria for CMA Final Stage
Only those candidates who remain qualified in the CMA Intermediate Stage from the institution are eligible to apply for the CMA Final Stage.

CMA Course Duration

The duration for CMA Course is different for each Stage of examination.
1) Foundation Stage: The course duration for CMA Foundation Stage is a minimum of 8 months’ time-frame.
2) Intermediate Stage: The course duration for CMA Foundation Stage is a minimum of 10 months time-frame.
3) Final Stage: The course duration for CMA Foundation Stage is a minimum of 18 months time-frame.

CMA Intermediate Course

Group – I
- Financial Accounting
- Laws and Ethics
- Direct Taxation
- Administrative Procedure and ICDS
- Cost Accounting
- CMA Intermediate Course

Group – II
- Operations Management & - Strategic Management
- Cost & Management - Accounting and Financial Management
- Indirect Taxation
- Company Accounts & Audit

CMA Final Course Syllabus

The CMA syllabus for the Final course exam is divided into two groups - Group III and Group IV. The topics are of advanced level. Take a look at the topics below.

Group – III
- Corporate Laws & Compliance
- Strategic Financial Management
- Strategic Cost Management – Decision Making
- Direct Tax Laws and International Taxation

Group – IV
- Corporate Financial Reporting
- Indirect Tax Laws and Practice
- Cost and Management Audit
- Strategic Performance - Management and Business Valuation

CMA Career Options

• Associate Professor
• Cost Controller
• Finance Director
• Accountant
• Chief Auditor
• Managing Director
• Financial Controller
• Chief Accountant
• Managing Director
• Chief Internal Auditor
• Chief Internal Auditor
• Financial Consultant