CMA Course - A Complete Guide

CMA course has three levels which are:

• Foundation
• Inter and
• Final

The duration of the course is 3 years.

To clear a group in CMA exams, a student is required to obtain a minimum of 40 percent marks in each of the subjects of a group and an aggregate of 50 percent or more in the group. However, there are certain rules in the CMA course for availing the benefit of exemption and carry forward of marks which are explained below:

Exemption in CMA Exams

If a candidate remains unsuccessful in clearing a group but secures 60 percent or more in any of the paper or papers, he/ she shall be exempted from appearing in that paper(s) in the subsequent attempt. But for the calculation of aggregate in the subsequent attempt, the marks in the exempted paper(s) will be reckoned as 50.

Carry Forward of marks

 If a candidate remains unsuccessful in clearing a group but secures 60 percent or more in any of the paper or papers and minimum of 40 percent marks in each of the remaining papers of that group, he/ she shall be exempted from appearing in that paper(s) in the subsequent attempt and allowed the benefit of carrying forward of the actual marks of exempted paper(s) in the subsequent attempt.

Admission to the foundation course for the ICAI course is open throughout the year However, Students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year.

Application Form

Candidates are required to apply for the application process before the due date for Foundation, Intermediate and Final Examinations.

The examination/ application form can be submitted by following the below-mentioned process:

• Visit the official website of ICMAI - https://icmai.in/
• Click on the ‘Admissions’ tab
• Click on the course that you want to apply
• Fill in the details including, personal details, address details, qualification details
• Proceed to pay the application fee for your respective course and submit the application form

CMA Application Fee:

Schedule

CMA exams are held twice a year in the months of June and December. Students desirous to appear for June Term Examination should register before 31st January of that year and for December Term Examination should register before 31st July of that year.

Pattern

CMA is a descriptive (pen and paper mode) exam where each subject carries a weightage of 100 marks and each paper is of 3 hours.

CMA course is divided into three levels – Foundation, Intermediate, and Final. The new CMA syllabus for the Foundation course includes basic or fundamental concepts of accounting and management whereas the syllabus for the Intermediate and Final Course is divided into two groups which include advanced-level topics related to the field of accounting, cost, management, laws, etc.

Here is a complete subject list for the CMA course:

Foundation Course:

• Fundamentals of Economics And Management
• Fundamentals of Accounting
• Fundamentals of Laws and Ethics
• Fundamentals of Business Mathematics and Statistics

Intermediate Course:

Group I-

• Financial Accounting
• Laws and Ethics
• Direct Taxation
• Cost Accounting

Group II-

• Operations Management & Strategic Management
• Cost & Management Accounting and Financial Management
• Indirect Taxation
• Company Accounts & Audit

Final Course:

Group I-

• Corporate Laws & Compliance
• Strategic Financial Management
• Strategic Cost Management – Decision Making
• Direct Tax Laws and International Taxation

Group II-

• Corporate Financial Reporting
• Indirect Tax Laws and Practice
• Cost and Management Audit
• Strategic Performance Management and Business Valuation

A Candidate can prepare for a CMA course through self-study or coaching. But it is always advisable to enroll in Classes to leave no stone unturned in your CMA Course Preparation. Classes will not only help in clearing all the concepts but also provide you with the guidance to channelize your preparations in the right direction. One can also enroll for CMA Course offered by IndigoLearn which is the best platform for CMA preparation. You can learn from the top educators with online/ pen drive classes from the comfort of your home. It has engaging Hd videos which can be accessed anytime, student-friendly notes, exam-style assessments. Not only this but you will also be provided with study materials and summary notes which will help you in last-minute revisions.

CMA opens up a gateway to opportunities to excel in your career. It can land you a top-level management job.

Here are some career prospects that you can explore after completing CMA:

• Finance Manager
• Financial Analyst
• Chief Financial Officer
• Financial Controller
• Corporate Controller
• Chief Investment Officer
• Cost Accountant

The average salary for a fresher CMA in India is 7 lakh rupees per annum. However, this number can go up to rupees 20lakhs too based on your skills.

With experience and developed skillset, there is no bar on earnings for CMAs.

What is CMA?

CMA is a professional course offered by the Institute of Cost Accountants of India which was set up with the objective of promoting and regulating the Cost and Management Accountancy profession in India.

How to become a CMA?

CMA has three levels which are Foundation, Intermediate, and Final. After qualifying these three levels, you become a CMA.

CMA or CA which is better?

Candidates who aim to pursue a career in Finance are attracted to CA or CMA course. However, the CMA course has gained immense popularity in the last few years. There is ample scope of opportunities after completion of both the courses.

Where can a CMA work?

A CMA can work in both the Private and Government sectors. Financial Analyst, Cost Accountant, Manager, Corporate Controller, Management Accountant, CFO are a few of the most common career paths that you can apply for as a CMA.

What is the scope of CMA India in other countries?
The demand for CMAs is on the rise over the last few years. There is a lot of scope for a CMA in India and abroad. If you want to make a career in Finance overseas, you should definitely consider doing this course.

How to become a CMA member?

After qualifying for the CMA Final exams and successful completion of practical training, you can apply for admission as an Associate Member of the ICMAI on the institute’s website.

How do you become a CMA?

You can become a CMA once you clear the Final exams and completely practical training.

CMA vs ACCA which is better?

Both CMA and ACCA are respected courses and gaining global recognition. However, it completely depends on you, which one you want to choose. If you want to work in the Middle East, Asia or America, CMA is the right choice for you. But if you prefer to work in the UK or a commonwealth country, then ACCA is a better choice.

Who is eligible for CMA?

If you have passed Senior Secondary or Graduation in any discipline other than Fine Arts or Passed Foundation of ICSI/Intermediate of ICAI, you can apply for the CMA course.

Which is better CS or CMA?

Both CS and CMA ensure a promising career. If you are interested in the field of Cost and Management Accounting then go for CMA, if you are interested in Law or theory subjects, go for CS

CS or CMA which is easy?

Neither CMA nor CS is easy. It entirely depends on your area of interest, hard work, and dedication.

How long does it take to become a CMA?

It generally takes around 3- 4 years to become a CMA.