Cost & Management Accountant (CMA India)
Becoming a Certified Chartered Accountant requires completing three levels of training designed by the Institute of Chartered Accountants of India (ICAI). The chartered accountant profession is governed and upheld in India by the ICAI, a statutory organization. Chartered Accountancy is a professional practice of accounting, auditing, taxation and financial assessment for an individual or an organization. Chartered Accountancy includes filing tax returns, auditing financial statements and business practices, registration of the business organization with the government, maintaining records of investments, preparing and reviewing financial reports and documents, etc. A Chartered Accountant with formal training is also qualified to provide clients with consulting services.
The CMA India Course Structure
This course is designed in three parts: Foundation/CAT, Intermediate and Final. To be certified the course also demands a 3-year articleship. An organic way of studies has been defined in this way so that one can become a thorough accounting and auditing professional gradually by completing each step.
CAT (Certificate in Accounting Technicians)
Institute of Cost Accountants of India (ICAI) offers a great opportunity for students who are planning to build a career in management accounting and financial management stream through CMA India course otherwise known as Cost and Management Accountant. It is a renowned course in India with a high price tag for job opportunities in all financial hubs of India such as Mumbai, Delhi, Chennai, Pune and Bangalore. The best part of this course is that it can be started as early as one passes out plus two (10+2) courses in parallel to other academic pursuits. By the time they receive this certification they become well sought after in the Indian job market of Direct or Indirect tax and Auditing field.
The CMA India – CAT Course
The Certificate in Accounting Technicians (CAT Course) is of two parts. The course consists of education, oral coaching followed by on-line/off-line self-assessment, on-line examination, computer training, 3 months Internship and 5 days orientation program. Coaching for the theory papers (first part) takes only 4 months and the student is directly eligible to the intermediate level without clearing the second part.
Foundation Course (Entry Level) Part-I
⁂ Paper 1: Fundamentals of Financial Accounting
⁂ Paper 2: Applied Business and Industrial Laws
⁂ Paper 3: Financial Accounting-2
⁂ Paper 4: Statutory Compliance
Competency Level – Part-II
⁂ (B) Filling of Statutory Returns
⁂ (C) Introduction to Costing Principles and Preparation of Cost Statements
⁂ (D) 5-days Orientation Programme
Exam Pattern & Pass Percentages
The exams are conducted in the months of June and December every year. One has to secure a minimum of 40% in individual subjects and 50% in aggregate. LSM students has always secured higher pass percentages than the national average; this feat is achieved only because of the result oriented and highly professional teaching staff of LSM and their impeccable teaching methods.
Qualification Required
Any student who has passed Plus Two (10+2) can join for this course in parallel to their other academic pursuits. A basic affinity towards learning accounting principles would be an added advantage.
What Next?
Once qualified in CMA India – CAT Course, one can immediately join for CMA India – Intermediate course which itself opens up many job opportunities. Completing Part 1 of the CAT course alone can get you to the intermediate level and upon completion of Part 2 can get you several internships.
Intermediate Level
Being part of financial management and management accounting team of a well-established company is a highly rewarding job. Such job profiles drive the businesses by analyzing the current financial trends with applying strong knowledge in the accounting principles. Institute of Cost Accountants of India (ICAI) offers a great opportunity for students who are planning to build a career in management accounting and financial management stream through CMA India course otherwise known as Cost and Management Accountant. Such certified candidates have many opportunities to get enviable job positions in all the big names in the Indian Industry across all metro cities such Bangalore and Delhi.
The CMA India – Intermediate Course Syllabus
The Intermediate course is the second tier of CMA-India course and has 8 subjects divided in 2 group. The CMA Intermediate course can be completed in less than a year by an enthusiastic student.
Group I
⁂ Business Laws and Ethics (BLE)
⁂ Financial Accounting (FA)
⁂ Direct and Indirect Taxation (DITX)
⁂ Cost Accounting (CA)
Group II
⁂ Operations Management and Strategic Management (OMSM)
⁂ Corporate Accounting and Auditing (CAA)
⁂ Financial Management and Business Data Analytics (FMDA)
⁂ Management Accounting (MA)
Exam Pattern & Pass Percentages
The exams are conducted in the months of June and December every year. One has to secure a minimum of 40% in individual subjects and 50% in aggregate. LSM students has always secured higher pass percentages than the national average; this feat is achieved only because of the result oriented and highly professional teaching staff of LSM and their impeccable teaching methods.
Qualification Required to Join CMA Intermediate Classes
Any student who has completed CMA India (Foundation) or CAT (Certificate in Accounting Technicians) OR any graduate can enroll for the intermediate level. Basic knowledge and interest in the accounting, finance and auditing stream would be helpful to complete the course within the schedule with good pass percentages.
What Next?
A qualified CMA India-Intermediate candidate is always preferred for several management accounting profiles and numerous job opportunities awaits them in almost all MNC’s in India. It is however, recommended to continue with the CMA India – Final course and start up your practical training which would open up greater opportunities and the title of a CMA holder in India and abroad.
Final Level
Institute of Cost Accountants of India (ICAI) offers a great opportunity for students who are planning to build a career in management accounting and financial management stream through CMA India course otherwise known as Cost and Management Accountant. Such certified candidates have many opportunities to get enviable job positions in all the big names in the Indian Industry across all metro cities such Bangalore and Delhi. Being part of financial management and management accounting team of a well-established company is a highly rewarding job. Such job profiles drive the businesses by analyzing the current financial trends with applying strong knowledge in the accounting principles.
The CMA India – Final Course Syllabus
The Final course is the third tier of CMA-India course and has 8 subjects divided in 2 group. The CMA Final course can be completed within an year by an enthusiastic student.
Group III
⁂ Corporate And Economic Laws (CEL)
⁂ Strategic Financial Management (SFM)
⁂ Direct Tax Laws & International Taxation (DIT)
⁂ Strategic Cost Management (SCM)
Group IV
⁂ Cost and Management Audit (CMAD)
⁂ Corporate Financial Reporting (CFR)
⁂ Indirect Tax Laws and Practice (ITLP)
Electives
⁂ Strategic Performance Management and Business Valuation (SPMBV)
⁂ Risk Management in Banking and Insurance (RMBI)
⁂ Entrepreneurship and Startup (ENTS)
Exam Pattern & Pass Percentages
The exams are conducted in the months of June and December every year. One has to secure a minimum of 40% in individual subjects and 50% in aggregate. LSM students has always secured higher pass percentages than the national average; this feat is achieved only because of the result oriented and highly professional teaching staff of LSM and their impeccable teaching methods.
Qualification Required to Join CMA Final Classes
Any student who has completed CMA India (Intermediate) and has started with their practical training can enroll for the final level. Basic knowledge and interest in the accounting, finance and auditing stream would be helpful to complete the course within the schedule with good pass percentages.
What Next?
Now that you have successfully completed the course, 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)
CMA India @ LSM
Frequently asked questions
Within four months.
Exams are conducted every June and December.
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.
