There are many professional courses available that one can opt for after passing class 12th or after graduation etc. Here in this article, we will get to know about the CMA Course details in India. The Institute of Cost Accountants (ICAI) offers a CMA course. Some folks term the course with CMA full kind, that’s Cost and Management Accounting. Earlier, the CMA course was called CWA. CWA’s full form is Cost and Works Accounting.
The course administering body in India was an equivalent back then; but, ICAI was at one time called the Institute of Cost and Works Accountants of India (ICWAI). If a student is nice associated and has an interest in managing the accounts of various departments in an exceeding company, group action them to assist contour prices, then the ICWA course is simply right for you. The CMA course length is 3 years with or while not formal coaching. This text provides CMA course details as well as the eligibility criteria, fees, syllabus, earnings prospects and a lot of.
What is CMA Course?
CMA or Cost and Management Accounting could be a certificate course providing CMA designation to the qualifiers. The designation could be an entranceway to a profitable career in business accounting. The CMA course functions on four pillars of data as well as, Management, restrictive Framework, Strategy, and money coverage. The designation of a CMA is provided when a candidate qualifies for the CMA communication conducted at 3 levels mentioned below:
- Level 1: Foundation
- Level 2: Intermediate
- Level 3: Final
Difference Between CWA, CMA, ICMAI, and ICWAI:
As mentioned in the CMA Course details in India, ICAI offers the CMA course at 3 levels. CMA or Cost and Management bourgeois were at one time called Cost and Work bourgeois (CWA). The institute providing the course remained equivalent from the initial stage. However, ICAI currently was named the Institute of Cost and Work Accountants of India (ICWA). ICWAI was later renamed because of the Institute of Cost and Management Accountants (ICMAI).
Thus, There’s no distinction between CWA and CMA. each is an equivalent course, solely the name has been modified within the previous years. Similarly, ICWAI, ICMAI, and ICAI are equivalent institutes with changes in names over the years. Besides the orthography, there’s no amendment within the literal that means.
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CMA Course Fees Details in India:
|CMA Fee Type||CMA Fee Amount|
|Cost of prospectus||INR 250|
|CMA course fee||CMA Foundation course fee: INR 6,000
CMA Intermediate course fee: INR 23,100 or INR 12,000 at the time of registration and remaining to be paid before January 31 and July 31 for June and December term exams
CMA Final course fee: INR 25,000 or INR 15,000 at the time of registration and remaining to be paid before January 31 and July 31 for June and December term exams
CMA Course Eligibility Criteria:
The eligibility criteria to use for CMA Exam in any respect for 3 levels vary. Here are the CMA Course details in India mentioned below regarding the eligibility criteria:
CMA Foundation Eligibility Criteria:
- Have passed class 10th or equivalent followed by class 12th or equivalent
- If they need to receive National Diploma in Commerce Examination (AICTE or by any recognised board).
CMA Intermediate Eligibility Criteria:
- Passed SSC or equivalent
- Foundation or entry level of Common Admission take a look at (CAT) by Institute of Cost Accountants of India (ICAI)
- Graduation in any stream (except Fine Arts)
- Even students who are awaiting results would pass the CMA course eligibility
CMA Final Eligibility Criteria:
- Students United Nations agency are through with their Intermediate level in school.
- Graduation in any stream (except Fine Arts).
- Have passed all eight papers of the Intermediate course.
CMA Course Fees and Duration:
CMA Course Details in India: The entrance examination, the CMA exam, is held twice a year, once each in June and December. If a student wishes to apply for the June exam, they can apply before January 31 of the same year. For the December exam, the last date of application is July 31.
CMA Course Syllabus/Subjects:
All 3 levels of the CMA course have totally different subjects. Candidates got to qualify for the Exam for all papers to induce the CMA designation. A summary of the entire CMA course structure is mentioned below:
The first stage is CMA Foundation; candidates got to pass four papers to clear the course level. Candidates will seem to take a look at those four subjects in terms of CMA exams. The second stage is the CMA Intermediate; the course level has 2 teams with the following options:
- Group one has four papers; students will seem for all four in one term Exam
- Group a pair of has four papers; students will seem for all four in one term Exam
- In some cases, candidates also can seem for each team of CMA Intermediate Exam in one term
Cost Management Accounting Course Details in India: The third stage is the CMA Final; kind of like the Intermediate level, the Final course has 2 teams:
- Cluster three has four papers
- Group four has four papers etc.
The Syllabus of the CMA Course Details in India is as follows:
CMA Syllabus for Foundation Course:
|Paper Number||Subject Name|
|Paper 1||Fundamentals of Economics|
|Paper 2||Fundamentals of Accounting|
|Paper 3||Fundamentals of Law and Ethics|
|Paper 4||Business Mathematics and Statistics: Fundamentals|
CMA Syllabus for Intermediate Course
|Paper Number||Subject Name|
|Paper 5||Financial Accounting|
|Paper 6||Law & Ethics|
|Paper 7||Direct Taxation|
|Paper 8||Cost Accounting|
|Paper 9||OMSM: Operations and Strategic Management|
|Paper 10||Cost & Management Accounting/Financial Management|
|Paper 11||Indirect Taxation|
|Paper 12||CAA: Company Accounts & Audit|
CMA Syllabus for Final Course
|Paper Number||Subject Name|
|Paper 13||Corporate Law & Compliance|
|Paper 14||SFM: Strategic Financial Management|
|Paper 15||SCMD: Strategic Cost Management: Decision Making|
|Paper 16||Direct Tax Laws; International Taxation|
|Paper 17||Corporate Financial Reporting|
|Paper 18||Indirect Tax Laws, Practice|
|Paper 19||Cost & Management Audit|
|Paper 20||SFP: Strategic Performance Management & Business Valuation|
CMA Course: Career, Scope and Salary:
Students are placed each through field moreover as off-campus. Students are equipped to not simply pursue strictly accounting profiles on organizations, however, also can leverage their data and skill to venture into fields like consulting and management.
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CMA Job Roles:
It is easy to make a career in this field. One just has to follow the right path to reach the destination. Students will explore and take up multiple roles in an exceedingly company post their course completion. These include:
- Internal Auditor
- Cost Accountant
- Finance Manager
- Assitant Finance Manager
- Chief Financial Officer etc.
CMA Earning Expectations:
As of now, IT, ITeS and Telecommunications happen to be the industries that supply the most in terms of remuneration. the typical earnings offered to freshers start at government agency 22,000-25,000 per month. With expertise and exposure, this, of course, would rise. The table below mentions the typical salaries of high job positions in organisations offered to candidates holding a CMA designation.
|Job Title||Average Salary (In INR)|
|Cost Controller||6.94 LPA|
|Finance Manager||10.86 LPA|
|Chief Financial Officer (CFO)||36.98 LPA|
|Senior Financial Analyst||8.17 LPA|
|Certified Management Accountant||5 LPA|
|Cost Accountant||7.05 LPA|
|Financial Controller||24.35 LPA|
|Internal Auditor||5.85 LPA|
|Finance Analyst||5.40 LPA|
CMA Course Details in India Exam not solely unveils the associate exciting world of economic management opportunities but helps give the mandatory expertise in order that the aspirant will withstand the strain of the dynamic company world.
This is all about the CMA Course Details in India. All the candidates who are about to appear for the examination. Make sure to gain proper knowledge about the exam and start your preparation accordingly.
FAQs For CMA Course Details
CMA which stands for Cost and Management Accounting has better growth in future but if we compare it with CA. The CA is still a better option in terms of better job positions and pays scale.
The role of CMA varies on a number of factors. It completely depends on where they are being placed. Here is some famous role that they are given:
· Planning overall costs
· Inventory management
· Analysing investments
· Project management
· Internal audits
· Cost audits
· Fund management etc.
The Duration of the CMA (Cost Management and Accounting) Course is 3 years to 3.5 years etc.