The Career can be much better in the field of accounting as compared to the other field if one has an interest in mathematics. Here in this article, I am sharing with you the complete details about the career as a Cost Management Accounting. To get CMA course details bout the required eligibility criteria for admission in the course, Admission Process in the course and how to make a career in this field etc. Check out our complete article below.
There are many courses available in the field of cost management accounting. One has an option to pursue the diploma course, certificate course, Under-Graduate course as well as the Master’s degree course in this field etc. Here in this, we will focus more on the career in this field and will also talk about a bit of admission and eligibility criteria etc. Let’s see what is Cost Management accounting:
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What is Cost Management Accounting:
We all are very familiar with the word Accounting. The work of cost management accounting is to examine, review and maintain the accounting sheet. In a very simple word, someone who handles and is responsible for all the details & information of financial management of any organisation. Well, This post is very demanding in the market. Well, the flexibility and working nature of this post or position attract many youngsters towards this. After the completion of the course, One has an option to work in some reputed work as:
- Accounting and Auditing Clerk
- Chief Accounting Officer
- Audit Manager
- Forensic Accountant
- Investment Analyst
- Personal Finance Consultant
- Investment Banker
- Economic Officer
- Banking Manager
- Researcher etc
The major responsibility of a cost management accountant is To maintain a cost accounting system, Analyze financial information and prepare reports accordingly, Implement cost accounting strategies to increase a company business, Plan, study and collect data to determine the costs of business activities, To give advice to managerial staff about revenues and costs ad To work with computer technology related to accounting. Well, there are many courses available in this field to make a career. Now let’s see the details about the list of courses available in this field that one can pursue to make a career in this field.
List of Course in Cost Management Accounting:
Well, A person has the option to pursue the Diploma course, Certificate course & under-graduate course and master’s course etc. Here are some famous courses that one can pursue to make a career in this field.
|B.Com in Accounting||3 years|
|B.Com (Hons) in Accounting||3 years|
|M.Com in Accounting and Finance||2 years|
|PhD in Finance and Accounts||2 to 5 years|
|ICMAI Foundation||Minimum 8 months|
|ICMAI Intermediate||Minimum 10 months|
|ICMAI Final||Minimum 18 months|
|SAP FICO Power User Course||100 hours|
|CCDA- Certificate Course on Data Analytics||3 months|
|Diploma in Management Accountancy||1 year|
|Executive Diploma in Business Evaluation||6 months|
|Executive Diploma in Cost and Management Accounting for Engineers||6 months|
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List of Advanced courses offered by ICMAI:
- SAP FICO Power User Course
- Certificate Course on Data Analytics
- Diploma in Management Accountancy
- Executive Diploma in Business Evaluation
- Executive Diploma in Cost and Management Accounting for Engineers etc.
In order to pursue these courses, there are some required criteria that are mandatory to have. Well, Let’s see a bit of detail about the eligibility criteria and the admission process in the course etc.
Eligibility Criteria and Admission in the Course:
There is the number, of course, available in this field and the required eligibility criteria are also different as per the course. Here are some common criteria that are mandatory to have in all manner to apply for admission in this course.
- One must have class 12th with Commerce from any government recognized board.
- One must have Mathematics at 10+2 level.
- There are marks criteria that have been mentioned anywhere, But some colleges may have marks criteria for admission.
- For admission in the CA courses, One will have to clear the National Level or State Level Entrance examination which is conducted by the respected government body.
- The admission is also done on Merit-basis or through the Interview or Oral Exams etc. It completely depends on the college.
- For admission to the diploma courses, there may not be an entrance exam. Well, these courses are usually offered locally, So you must visit the Institute to get the details regarding the admission.
There is no age barrier has been mentioned regarding admission in the course. So, anybody can apply for this course. There is no relaxation has been to anyone regarding the Age, Caste, Community or religion. Everything will be the same for everyone. There may be some relaxation given by the colleges but no mention has been there for the admission in this course. Let’s see the details about How to make a career in this field.
Career Scope of CMA Course:
To make a better career in this field, One should always opt for the Bachelor’s degree program. It is more valuable and one will get a better job after the completion of the course. If you pursue this course from any reputed college, Institute or University. There is maximum chances that you will get a job before your final exams. Most of the reputed colleges conduct the placement drive and it becomes very easy for one to get a job. After the completion of a bachelor degree course or any equivalent course. Here are the some famous posts in this field:
- Finance Director
- Managing Director
- Associate Professor
- Cost Controller
- Chief Auditor
- Cost Accountant
- Chief Accountant
- Chief Internal Auditor
- Financial Consultant
- Managing Director
- Financial Controller etc.
These are the posts that one can get with few years of experience in this field. Well, knowledge plays a very important role in this field. A candidate must have proper theoretical knowledge as well as practical knowledge with training. Your knowledge is something that will take you further in this field. Make sure to join a better college and get proper education and be the best in this field. This field is known to pay really well and it can make you live a very good & healthy lifestyle.
Top Recruiters for CMA Course:
- Micro Inks Limited
- Inext Infotech Services
- Zexus Air Services Pvt Ltd
- Government and Private Institutions
- ALTRET Industries Pvt. Ltd.
- Bain & Company
- AT Kearney
- Boston Consulting Group etc
Salary After CMA Course:
As I mentioned above as well, that, this is the field which is known to pay really well, As a fresher, one can easily earn somewhere between 25,000/- per month to 55,000/- per month or maybe more or less depending upon the company or organization you are working with.
Top Colleges for CMA Course in India:
Well, One can also pursue this course abroad. Most of the colleges abroad are known for this course and provide really better education. But, India has also of the finest colleges for this course, But the competition is too much to get admission in those colleges, It is not that easy to get admission. Here are the colleges that are best in India and I have also shared the course name that is offered by the college:
|College/ Institute Name||Course|
|ICMAI- Institute of Cost and Management Accountants of India||ICMAI Foundation|
|ICMAI- Institute of Cost and Management Accountants of India||ICMAI Intermediate|
|ICMAI- Institute of Cost and Management Accountants of India||ICMAI Final|
|ICMAI- Institute of Cost and Management Accountants of India||SAP FICO Power User Course|
|ICMAI- Institute of Cost and Management Accountants of India||Certification Course on Data Analytics|
|ICMAI- Institute of Cost and Management Accountants of India||Executive Diploma in Business Valuation|
|ICMAI- Institute of Cost and Management Accountants of India||Executive Diploma in Cost and Management Accounting for Engineers|
|LPU- Lovely Professional University, Jalandhar||B.Com|
|Shivaji University, Kolhapur||B.Com, M.Com|
|IGNOU- Indira Gandhi National Open University, Delhi||B.Com, M.Com|
|Sonarpur Mahavidyalaya, Kolkata||B.Com (Hons)|
|RIMT University, Punjab||B.Com (Hons)|
|RGIPT- Rajiv Gandhi Institute of Petroleum Technology, Uttar Pradesh||PhD|
|IIT- Indian Institute of Technology, New Delhi||PhD|
|Fore School of Management, Delhi||PhD|
Well, all the names of the colleges that have been shared here are just to help the students and the Thinks knowledge here does not promote any college. Hope this blog was helpful to you and you got the CMA Course Details.
FAQs For CMA Course Details
A cost account can easily earn somewhere between 2.8 lakhs per annum to 4.4 lakhs per annum or maybe more or less depending upon the company or organization you are working with.
No, One must have basic and a bit of advanced knowledge of mathematics to be better in this field. Most of the colleges do not offer admission in the course without mathematics.
ICMAI Intermediate is one of the finest to make a career in the field of accounting. There are many course as well, but this is the finest as per some experts.