What is Cost Management Accounting (CMA 2021) Course?
CMA is one of the most popular courses in the finance sector and it provides the ladder to the one who wants to make it big in the management accounting field. CMA has been one of the favorite courses amongst commerce students.
CMA is a certificate program designed to train students who aspire to work in different industries and corporate functions.
The CMA courses are issued by the Institute of Cost Accountants of India (ICAI) that primarily focuses on financial statement analysis, external financial reporting, valuation issues, working capital policies, etc.
Previously CMA was known as ICWA.
Cost Management Accounting CMA 2021: Course Level
The CMA Course is distributed into three levels and one needs to pass the previous level to continue further to the next level. The three levels of the CMA Course are:
- Level 1: CMA Foundation Level
- Level 2: CMA Intermediate Level
- Level 3: CMA Final Level
Cost Management Accounting CMA 2021: Course Duration
- The CMA course duration is flexible that means candidates have the authority to complete the levels at their desired pace and it also depends on the candidate`s focus and dedication.
- The time for the CMA course approx. time duration can be 6 months- 4 months, and this course is frequently completed in 3- 4 years duration in India whereas it just takes 6 months to complete the course in the US.
Also Read: Bachelor of Commerce
Cost Management Accounting CMA 2021: Skills Gained
|Cost management||Profitability Analysis|
|Expertise in Management Accounting||Risk Management|
|Performance Management||Planning and Budgeting|
|Strategic Management||Internal Controls|
|External Financial Reporting||Expertise in Financial Accounting|
Also Read: Bachelor of Business Administration
Cost Management Accounting CMA 2021: Eligibility Criteria for Different Levels
CMA 2021 Eligibility Criteria: Foundation level
- Candidates should have completed class 10th from any recognized board.
- Candidates should have passed class 12th from any recognized board.
- Candidates can also have National Diploma in Commerce Education by AICTE or any state board of technical education besides the above-mentioned degrees.
CMA 2021 Eligibility Criteria: Intermediate level
- Candidates must have passed class 12th
- Candidates must have passed the foundation course from the Institute of Cost Accountants of India (ICAI).
- Candidates must have a UG degree with any stream except for Fine Arts.
CMA 2021 Eligibility Criteria: Final Level
- Candidates must have passed the foundation and intermediate level in order to pursue the final level of CMA Courses.
You might be interested in: Art of Integrated Learning
Cost Management Accounting CMA 2021: Course Syllabus
|CMA 2021: Syllabus for Foundation Level|
|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 2021: Syllabus for Intermediate Level|
|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 2021: Syllabus for Final level|
|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|
Cost Management Accounting CMA 2021: Application/ Registration Date
- The CMA registration for the ICAI courses is active throughout the year.
- In CMA Candidates need to register themselves 4 months prior to the intended term.
- If a candidate is seeking for December term then her/ he has to register in the month of July like for June term candidates need to register themselves in the month of January before 31stof the same year.
CMA 2021: How to Register
- For registration in CMA, candidates need to send their application forms via postal method along with the other required documents to their respective Regional Councils.
- The Regional Councils of four regions in India are:
Northern India- New Delhi
Southern India- Chennai
Eastern India- Kolkata
Western India- Mumbai
CMA 2021: Registration Fee
- Level: CMA Foundation
- Registration: INR 4k
- Level: CMA Intermediate
- Registration: INR 20k
- Level: CMA Final
- Registration: 17k
CMA 2021: Exam Schedule
- The CMA course offers flexibility to the candidates who are appearing in different levels of exams.
- Candidates can appear in the exams according to their comfort and the testing window remains open for 6 months in a year that are January or February, May or June, September or October.
- CMA exams are conducted in online mode.
CMA 2021: Job Profile and Average Salary
|Job Profile||Average INR|
|Chief Financial Officer (CFO)||10.6 LPA|
|Corporate Controller||7.4- 12.5 LPA|
|Chief Investment Officer||Up to 50 LPA|
|Financial Controller||6- 14 LPA|
|Financial Analyst||Up to 14.7 LPA|
Question: Can a candidate for the CMA exam before clearing the 12th boards?
Answer: Candidates can register for the exam but cannot appear for the exams.
Question: Can a candidate for the CMA exam before clearing graduation?
Answer: Candidates can register for the exam but cannot appear for the exams but a candidate can join the CMA intermediate course.
Question: What is the complete course duration for CMA?
Answer: The Course consists of three-level and 20 subjects and it generally takes 3- 4 years to complete the course.
Bachelor of Business Administration 2021