ABOUT

CMA (COST AND MANAGEMENT ACCOUNTING)

The Institute of Cost Accountants, commonly referred to as ICMAI, administers the Cost and Management Accounting course in India. The CMA full form, Cost and Management Accounting, was previously termed as CWA, which was an acronym for Cost and Works Accounting. The governing body in India remained unchanged; however, ICMAI was then known as the Institute of Cost and Works Accountants of India (ICWAI). The CMA course is ideal for students interested in managing and integrating accounts across various company departments to optimize costs. The CMA course duration is three years.

Eligiblity

CMA Course Eligibility Criteria

The eligibility criteria to apply for CMA exam at all three levels vary. Space below mentions the CMA course eligibility criteria for all three levels

CMA Foundation Eligibility Criteria

Have passed Class 10 or equivalent followed by Class 12 or equivalent

If they have received 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 Test (CAT) by Institute of Cost Accountants of India (ICAI)

Graduation in any stream (except Fine Arts)

Even students who are awaiting results would pass CMA course eligibility

CMA Final Eligibility Criteria

Students who are done with their Intermediate level at school

Graduation in any stream (except Fine Arts)

Have passed all eight papers of the Intermediate course

FAQ

Structure of CMA Exam:

All three levels of the CMA course has different subjects. Candidates need to qualify the exam for all papers to get the CMA designation. An overview of entire CMA course structure is mentioned below:

First stage is CMA Foundation; candidates must pass four papers to clear the course level. Candidates can appear for the test of these four subjects in term of CMA exams

Second stage is the CMA Intermediate; the course level has two groups with the following features

Group 1 has four papers; students can appear for all four in one term exam

Group 2 has four papers; students can appear for all four in one term exam

In some cases, candidates can also appear for both groups of CMA Intermediate exam in one term

Third stage is the CMA Final; similar to the intermediate level, Final course has two groups

Group 3 has four papers; Group 4 has four papers. Candidates get to choose among three elective subjects for the last paper of Group IV

Career in CMA:

Students can explore and take up multiple roles in a company post their course completion. These include:

1. Internal Auditor

2. Cost Accountant

3. Finance Manager

4. Assitant Finance Manager

5. Chief Financial Officer