Cost and Management Accountant (CMA India)

The Institute of Cost Accountants of India (ICMAI) provides an excellent chance for students aiming to establish a career in management accounting and financial management through the CMA India course, also recognized as Cost and Management Accountant.

The Logician Perspective

Why CMA India?

This prestigious program in India comes with a substantial investment, offering significant career prospects in major financial centers like Mumbai, Delhi, Chennai, Pune, and Bangalore. Upon obtaining this certification, individuals become highly sought-after in the Indian job market, particularly in roles related to costing & auditing.

Course Structure

This course is designed in three parts: Foundation/CAT, Intermediate and Final. To be certified the course also demands a 15 month articleship

FAQ

For the June window, students must register before January 31st and for the December window, students must register before July 31st.

The students are required to undergo the following training:

• 3 days “Communication and Soft Skills” for Intermediate students
• Compulsory Computer Training for Intermediate students for 100 hours
• 7 days “Industry Oriented Training Programme” after enrolling for Final course.
• 15 days Modular Training after passing Final course and before campus.
• Practical training, as provided in regulations.

If a candidate is unsuccessful in passing a group but secures 60% or more in any paper or papers, he/she shall be exempted in that paper(s) from appearing in the immediately successive three terms of examination.

Yes. Generally, people tend to confuse between terms like ICWAI, ICWA, ICMAI and CMA. ICWAI (Institute of Cost & Works Accountants of India) has changed its name to ICMAI (Institute of Cost Accountants of India). Also, ICWA course has been remodeled into CMA course, i.e. Cost Management Accounting course offered by the Institute of Cost Accountants of India (ICAI).

As a newly qualified Cost and Management Accountant, the average starting salary is Rs. 6 lakhs to Rs. 7 lakhs per annum. Whereas the experienced ones can earn up to Rs. 55 lakhs, though there can be no upper limit.

Yes, CMA students can pursue their articleship in CA Firms. If the firm of Chartered Accountants/ Company Secretaries has a separate Management Consultancy Division and if the applicant has exclusively worked in that division, then such service is given on percentage basis depending on the nature of job related with cost/management accounting/ financial accounting/ taxation, size of the firm, nature of duties handled by the applicant.

Students’ priority is to analyze your level of preparation and ability to prepare for the exam. Although you have been given the choice to either appear for one group alone or both groups together, it is always suggested that you give both groups together.

A CMA student becomes eligible for membership of ICMAI only after passing of CMA Final course and completion of Modular Training & Practical Training as provided under the regulations. One is admitted as an associate member and can use the descriptive title ACMA after his/her name to indicate that he/she is an Associate Member of an institute. After fulfilling all criteria an ACMA can become a fellow member and can use the title FCMA after his/her name to indicate that he/she is a Fellow Member of the institute.

CMAs work across a wide array of business functions, including Accounting and Finance, Sales and Marketing, Operations, Strategic Planning and Analysis, Information Technology and Human Resources. The most common career paths you can navigate to includes — Management Accountant, Financial Analyst, Cost Accountant, Accounting Manager, Senior Accountant, Corporate Controller and even a directorial position like a Chief Financial Officer (CFO)

Any student who has passed Plus Two (12) can join for this course in parallel to their other academic pursuits.

Any student who has completed CMA India (Foundation) or CAT (The Certified  Accounting Techniques ) OR any graduate can enroll for the intermediate level.

Course Explained

CMA INDIA

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