Everything About CMA Course | Eligibility | Registration | Job Prospects

 

CMA Course - In the modern world, the industrial and commercial areas are proliferating, and new companies start quickly. Therefore, the requirements of the finance and accounting sector are increased to a different level. For your knowledge, I would like to remind you that there are more than a lakh of CMAs, CAs, and other professionals working in Reliance Pvt Ltd.


CMA is one of India's most challenging professional courses and generally has a passing percentage of 5% to 25%. CMA's popularity among commerce students is very high, students who are competing over to be experts in accounting and financial areas because of its huge industry acknowledgment.


Suppose you are interested in the CMA Course. In that case, you must know about everything in CMA, the course's structure, course levels, course duration, skills taught in CMA, eligibility criteria, subjects and syllabus, job prospects, and many more. So, read the complete article to know your compatibility with CMA.


What is CMA?


CMA full form is defined as Cost Management of Accountants. CMA is a professional certificate program mainly focused on training candidates to work in various finance and corporate fields, face every situation and handle them. The certificate credentials for completing CMA are issued by the Institute of Cost Management of India's Accountants (ICMAI).


The CMA opens doors into the business world: The CMA gives an essential knowledge of money that organizations should be proficient and gainful. CMAs frequently work intimately with upper management, and their knowledge, skills, and experience impact the bearing of these associations. At this point, CMA capacities as a significant aspect of the management team.  


CMA is an excellent option for commerce students. Often some people are still confused about the difference between ICWAI, ICAI, CWA, and ICMAI. Let me tell you that the name of these has now been changed to CMA. Earlier it used to be the Institute of Cost & Works Accountants of India (ICWAI), its name has now been changed to The Institute of Cost Management of Accountants of India (ICMAI). Now, this course is called CMA, in short. 


CMA Course Levels 


  • Level 1 - CMA Foundation Level:- CMA Foundation is the base of a CMA. It is like an entrance exam for CMA. Without clearing the foundation exam, you can't appear in the intermediate examination.
  • Level 2 - CMA Intermediate Level:- CMA intermediate is the second step after clearing the foundation exam. It consists of two groups. One group has four subjects. The student has to decide whether he/she wants to give both groups or give each group separately.

  • Level 3 - CMA Final Level:- For appearing in the CMA Final examination, a student must have to clear both groups of intermediate and complete their 6 months of internship.


CMA Course Duration 


There is not any specified duration of the CMA Course. The period of the CMA Course is flexible. The time taken to complete the CMA Course depends on the candidate’s focus and dedication. Usually, an ordinary student takes 3-4 years to complete the CMA program. But the 6 months of internship is compulsory for CMA finals. 


Skills taught in CMA. 


  • Expertise in Financial Accounting 
  • Strategic Management
  • External Financial Reporting
  • Internal Controls
  • Performance Management
  • Cost Management
  • Expertise in Management Accounting
  • Profitability Analysis
  • Planning and Budgeting
  • Risk Management
  • Investment Decision


Eligibility Criteria for CMA Course 

CMA Foundation:-

  • You must have passed your 10+2 examination or equivalent from a recognized board.
  • Other than this, if you completed a Diploma in Commerce Education by AICTE or any State Board of Technical Education, you will be considered eligible for CMA Foundation.


CMA Intermediate:-

  • For the intermediate level, you must have completed your Class 12 education.
  • You should have passed the CMA Foundation from the Institute of Cost Accountant of India (ICAI).
  • You must also complete an undergraduate degree in any commerce subjects.


CMA Final:-

  • Candidates must have passed their intermediate examination to become eligible for CMA Finals.
  • Students must have to complete his/her 6 months internship.


CMA Course Fees 

  • CMA Foundation:- ₹4,000
  • CMA Intermediate :- ₹12,000 for registration + ₹8,000 for examination 
  • CMA Final:- ₹17,000

NOTE: The registration fees for the intermediate examination is accepted by the ICAI for the next 6 attempts. After that, you have to repay the registration amount.


CMA Registration

  1. Click on this CMA Registration, and you will be directed to the official website of IC.

NOTE: The registration process can be done before 4 months of the examination date. Like, if you are interested in appearing for the December Term Exam, you will have to apply before the 31st of July in the same year. Likewise, if you are interested in the June Term Exam, you must register before the 31st of January in the same year.

  1. Click on the level you want to register for
CMA-Course-Full-Form

CMA Course- Registration

  1. Check the list of documents required for registration. Keep all the records with you, in case you need them.
  1. If you have all the documents ready, then select the coaching type and click OK.
CMA-Course-Full-Form
CMA Course Registration


  1. After clicking on OK, you have to fill in your personal details. Like your name, father's name, etc. After filling up the form, click on NEXT.
CMA-Course-Full-Form

CMA Course Registration
  1. Next, you have to fill in your address details. Please fill in your address correctly. After filling in your address section, click on NEXT.

NOTE: ICAI sends syllabus books for students on the present address they filled, therefore select whether the address is your permanent address or current address.

  1. Then you need to fill in your education qualification details. This process may need your 10th and 12th mark sheets. So keep them near you. After filling in details, click on SAVE & NEXT.
  1. After this, you are directed to the payment page; the foundation fee is ₹4,000. Note your application number, select a payment method, currency, and pay the amount.
  1. After paying the foundation fees, you will have to attach scanned photographs of all the documents required.
  1. Congratulations, your CMA registration has been done. Further details will be sent to you by your mail by the ICAI.


CMA Admit Card & Examination Details

After completing your registration, ICAI gives you your registration ID and password, which you have to enter to download the admit card, exam result, rank list, etc. CMA Admit Card can be downloaded from the official ICMAI/Examination website. The admit card will be available for download before 7-10 days from the examination date.

Also read:- Top 5 B.com colleges in India.


CMA Syllabus

The ICMAI last changed their syllabus in 2016, and for recent five years, students have to study the same syllabus for CMA. If the student has already completed the course books of CMA, then he/she can download the study material and sample papers pdf from the ICMAI/Syllabus.


CMA Subjects 

CMA Foundation:-

  • Paper 1 - Fundamentals of Business Mathematics and Statistic
  • Paper 2 - Fundamentals of Laws and Ethics
  • Paper 3 - Fundamentals of Accounting
  • Paper 4 - Fundamentals of Economics and Management

CMA Intermediate:-

  • Paper 5 - Company Accounts & Audit
  • Paper 6 - Indirect Taxation
  • Paper 7 - Cost and Management Accounting
  • Paper 8 - Operation Management Information System
  • Paper 9 - Cost accounting and financial management
  • Paper 10 - Direct Taxation
  • Paper 11 - Laws, Ethics and Governance
  • Paper 12 - Financial Accounting

CMA Final:- 

  • Paper 13 - Financial Analysis & Business Valuation
  • Paper 14 - Cost and Management Audit
  • Paper 15 - Corporate Financial Reporting
  • Paper 16 - Strategic Performance Management
  • Paper 17 - Tax Management and Practice
  • Paper 18 - Business Strategy & Strategic Cost Management
  • Paper 19 - Advanced Financial Management
  • Paper 20 - Corporate Laws and Compliance


Job prospects in CMA 

CMA is a professional course. After doing this, you can get a chance to work at a higher level in accounts and finance, such as Financial Analyst, Finance Manager, Internal Auditor, Director-Finance CEO, CFO Senior Accounts Manager, etc. In this, you can work in banking, a manufacturing company, a service company in private and government institutions, and many more.

Job Roles in CMA 

  • Staff Accountant
  • Cost Accountant
  • Senior Accountant
  • Controller
  • Budget Analyst
  • Internal Auditor
  • Finance Manager
  • Financial Analyst
  • Chief Finance Officer
  • Chief Executive Officer
  • Vice President, Finance
  • Treasurer


Salary in CMA 

The average salary of a CMA is not fixed. It depends on your knowledge and skills, like a student gets 90% in his academic year but not have any practical skills, and on the other hand, a student scores 60% but has all the skills and knowledge required for the experimental work. In this case, the student with 60% gets a higher package than the student with 90%.

Salary at different posts in CMA:- 

  • Chief Financial Officer (CFO) - Up to 10.6 LPA
  • Financial Analyst - Up to INR 14.7 LPA
  • Corporate Controller - INR 7.4 LPA to INR 12.5 LPA
  • Financial Controller - INR 6 LPA to INR 14 LPA
  • Chief Investment Officer - Up to INR 50 LPA


Why Choose CMA Course?

High Salaries:- CMA is a professional certificate course by which you can earn much more than a typical undergraduate or postgraduate or any other diploma. CMA requirements are proliferating in the new modern industrial estate. This is the reason why CMA has good employment opportunities and more excellent salaries.


More straightforward Advancement:- When comparing individuals who obtained CMA certification with those who pursued alternate paths, the result is that CMA’s achieve higher positions in companies. 


Individuals who jump into their careers with a college degree and no further certifications, or individuals who pursue the more popular certification courses, will often find themselves in lower level starting positions, as they will lack the experience or knowledge to reach the management level. 


Training for management-level certification with a CMA, on the other hand, will result in a more comfortable time gaining positions in upper management.


International Appeal:- For individuals who are pursuing careers in finance or accounting, a college degree is undoubtedly an essential step on the way to a high-paying position. However, when looking for jobs in other countries, education in your country of origin may not carry the same weight.


 International employers will often compare education from many different countries. You may find that a degree in America doesn’t have as much importance when applying for work in Europe or Asia. On the other hand, the CMA Course is recognized globally. 


Career Versatility:- As you have read from the points listed above, another benefit to pursuing a CMA Course many career opportunities. If you are pursuing education and are still unsure what specific career you want to pursue, then CMA Course is best to obtain because the possible career choices are vast and varied. Individuals with CMA certification can work in public or corporate accounting and fill positions as analysts, planners, auditors, managers, and accountants.


Frequently Asked Questions (FAQs) 


Q.1 What is a CMA course?

Ans. CMA full form is defined as Cost Management of Accountants. CMA is a professional certificate program mainly focused on training candidates to work in various finance and corporate fields, face every situation and handle them. The certificate credentials for completing CMA are issued by the Institute of Cost Management of India's Accountants (ICMAI).


Q.2 Is CMA complicated than CA?

Ans. Not at all, CA is more challenging than CMA, CA has more content of syllabus in comparison to CMA. But the number of CA pass-outs always remains better than the number of CMA pass-outs. At last, no course is challenging or easy; it depends on your knowledge and skills.


Q.3 Can I do CMA after the 12th?

Ans. Yes, You must have passed your 10+2 examination or equivalent from a recognized board. This is the basic eligibility required for CMA. 


Q.4 What is the salary of CMA in India?

Ans. The average salary of a CMA is not fixed. It depends on your knowledge and skills. Those who clear the CMA exam in the first attempt can get a starting salary of Rs 7 lakh per annum on an average. Those who earn the CMA exam in the second attempt can start off with an average annual package of Rs 3-4 lakh.


Q.5 How many years course is CMA?

Ans. There is not any specified duration of the CMA Course. The period of the CMA Course is flexible. The time taken to complete the CMA Course depends on the candidate’s focus and dedication. Usually, an average student takes 3-4 years to complete the CMA program. But the 6 months of internship is compulsory for CMA finals. 


Q.6 How can I make myself eligible for CMA?

Ans. CMA Foundation:- You must have passed your 10+2 examination or equivalent from a recognized board.


CMA Intermediate:- For the intermediate level, you must have completed your Class 12 education. You should have passed the CMA Foundation from the Institute of Cost Accountant of India (ICAI).


CMA Final:- Candidates must have passed their intermediate examination to become eligible for CMA Finals.

Students must have to complete his/her 6 months internship.


Q.7 Can I do CMA registration online?

Ans. Click on this CMA Registration, and you will be directed to the official website of ICAI. The registration process can be done before 4 months of the examination date. Like, if you are interested in appearing for the December Term Exam, you will have to apply before the 31st of July in the same year. Likewise, if you are interested in the June Term Exam, you must register before the 31st of January in the same year.


Q.8 How can I get CMA to admit card?

Ans. After completing your registration, ICAI gives you your registration ID and password, which you have to enter to download the admit card, exam result, rank list, etc. CMA Admit Card can be downloaded from the official ICMAI/Examination website. The admit card will be available for download before 7-10 days from the examination date.


Q.9 What are the fees of CMA?

Ans. CMA Course fees in India: Typically, CMA course fees in India range from 1.25-1.50 lakhs, with CMA training and exam fees included. 


Q.10 What are the job opportunities after CMA?

Ans. CMA is a professional course. After doing this, you can get a chance to work at a higher level in accounts and finance, such as Financial Analyst, Finance Manager, Internal Auditor, Director-Finance CEO, CFO Senior Accounts Manager, etc. In this, you can work in banking, a manufacturing company, a service company in private and government institutions, and many more.

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