CMA Course Details - Subjects, Eligibility, Exam Dates, Fee Details

Chartered Accountancy is offered by "The Institute of Chartered Accountants of India" (ICAI). It has always been an essential professional qualification; people have an idea of a brilliant, bright and knowledgeable character the moment you say you are a qualified CA, it is a significant course in the field of accounts and finance which pays way to various career options prevailing in the financial domain. CAs are in high demand for almost every business for corporate auditing, taxation, accounting, and other legal counsel.

Chartered Accountants with their education, training, analytical mind and experience are best to qualify to provide multiple need-based services to the society, they can do full justice, not only in matters relating to corporate taxation, costing, management, financial reporting, company legislation, auditing, statutory procedures, and budgetary policies.

If you are concerned about great prospects, financial stability, professionalism, reputed degree, significant knowledge base in finance and accounts then CA coaching in Chennai is a perfect profession to start with.

Below are the steps to apply for Chartered Accountancy (CA)

The Institute of Chartered Accountants of India (ICAI) has recently revised the curriculum to make aspirants more competitive worldwide. The revised scheme of Education and Training for the CA Foundation Course came into effect from 1st July 2017.

As per the changes, the three levels are

  1. CA Foundation.
  2. CA Intermediate.
  3. CA Final.


The CA exam will be held in May and November every year. The course is not new but revised. Besides, the Foundation exam will be both descriptive and objective. Under the new scheme, a student must achieve 40% in all the subjects and 50% marks in aggregate.

1.     The first step is to clear the CA Foundation (previously called as Common Proficiency Test - CPT). You can register for this with ICAI post your 10thStd. but you are only eligible to write the exams once you clear your 12th Std. or HSC.

a.     The A Foundationis exempt if you are already a commerce graduate with >55% marks

b.     It is also exempt for non-commerce graduates with >60% marks

2.     The second step is to enrol for the CA Intermediate (previously called as Integrated Professional Competency Course - IPCC)

a.     Students need to undergo an orientation program, 100 hours of Information technology training and 8 months of studying (called foundation course)

b.     Students can then appear for Group 1 and /or Group 2 examinations of the CA Inter

c.     They also need to complete General Management and Communication Skills course – Part 1.

d.     Once they clear Group 1 and 2 exams, they are eligible for a 3 year articleship with a firm

3.     The third step step is to enrol for the CA Final exams

a.    The exam can be attempted when 6 months of articleship are remaining.

b.  Students also need to complete Advance Information Technology Training and General Management and Communication Skills – Part II, if not completed earlier, before the final exam

4.     The fourth step is to Acquire Chartered Accountant Membership.

a.    After completing all the exams and three years of articleship training, successful candidates may acquire ICAI membership.

b.     You can get the membership by registering with the ICAI, after that you will be eligible to use the title of "Chartered Accountant".

Examination criteria and details

  • Orientation program, 100 hours of information technology training and eight months of studying is called foundation course which is mandatory.
  • Then you can appear for Group 1 and 2 examinations of the CA Intermediate / Inter.
  • Its mandatory to complete the IT training orientation course.
  • Once the Group 1 and 2 exam is cleared, then you are eligible for a three-year article ship with a firm.
  • After clearing CA Intermediate / Inter is the final CA exams
  • You can attempt the exam when six months of article ship is remaining
  • Completion of Advance Information Technology Training and General Management and Communication Skills – Part II before the final exam is mandatory.
  • This course is primarily done by self-study or with the help of CA training center in Chennai. The CA Foundation course and the CA Intermediate / Inter exams are done simultaneously while pursuing a graduate degree, but article ship is done as full-time jobs.

CA has three levels they are:

CA FOUNDATION

CA (Chartered Accountancy) course conducted by the ICAI (Institute of Chartered Accountants of India). This is the entry-level course for any student intending to take up the chartered accountancy course. This course has been revised in 2017, below is the revised new syllabus.

Enroll yourself in CA foundation coaching in Chennai

Number of Papers – 4

1.     Paper 1: Principles and Practices of Accounting

2.     Paper 2: Business Law & Business Correspondence and Reporting

a.     Section A: Business Law

b.     Section B: Business Correspondence and Reporting

3.     Paper 3: Business Mathematics and Logical Reasoning & Statistics

a.     Part I: Business Mathematics and Logical Reasoning

b.     Part II: Statistics

4.     Paper 4: Business Economics & Business and Commercial Knowledge

a.     Part I: Business Economics

b.     Part II: Business and Commercial Knowledge

5.     Paper 3 and Paper 4 will be Objective type papers

Note:

1.     Passing percentage: Aggregate- 50% and Subject-wise- 40% at one sitting.

2.     Examination: In November and May after passing Class XII

CA INTERMEDIATE

The CA Intermediate is the second stage of being a CA. This is also conducted by the Institute of Chartered Accountants in India (ICAI)

Enroll yourself in CA intermediate coaching in Chennai.

Number of Papers – 8

Group I

1.     Paper 1: Accounting

2.     Paper 2: Corporate Laws & Other Laws

a.     Part I: Corporate Laws

b.     Part II: Other Laws

3.     Paper 3: Cost and Management Accounting

4.     Paper 4: Taxation

a.     Section A: Income Tax Law

b.     Section B: Indirect Tax Laws

Group II

1.     Paper 5: Advanced Accounting

2.     Paper 6: Auditing and Assurance

3.     Paper 7: Enterprise Information System & Strategic Management

a.     Section A: Enterprise Information System

b.     Section B: Strategic Management

4.     Paper 8: Financial Management & Economics for Finance

a.     Section A: Financial Management

b.     Section B: Economics for Finance

CA FINAL

The third level of the CA (Chartered Accountancy) course conducted by the ICAI (Institute of Chartered Accountants of India) is identified as Final.

Enroll yourself in CA final coaching in Chennai

There are eight papers in CA Final from 2016. Changes in CA Final course from below.

Number of Papers – 8

Group I

1.     Paper 1: Financial Reporting

2.     Paper 2: Strategic Financial Management

3.     Paper 3: Advanced Auditing and Professional Ethics

4.     Paper 4: Corporate Laws and other Economic Laws

Group II

1.     Paper 5: Strategic Cost Management and Performance Evaluation

2.     Paper 6: Elective Paper (One of the Elective Papers to be chosen by the candidates)

Elective Papers

a.     Risk Management

b.     International Taxation

c.     Economic Laws

d.     Financial Services & Capital Markets

e.     Global Financial Reporting Standards

f.     Multidisciplinary Case Study


3.     Paper 7: Direct Tax Laws & International Taxation

a.     Part I: Direct Tax Laws

b.     Part II: International Taxation

4.   Paper 8: Advanced Indirect Tax Laws

Role of Chartered Accountant

  • To act as an accountant to maintain the proper books which portray the right and fair view.
  • To provide information reports to management.
  • To act as a statutory auditor
  • To provide financial advice
  • To act as a service provider to assist in share registration, arbitration
  • To act as an internal auditor
  • To act as a tax consultant
  • To act as a management consultant

Job Opportunities for CA candidates

Chartered accountancy is a professional degree course which offers a lot of career options and opportunity with the best salary in hand. Below describe career options.

  • GST Service Providers
  • Chief Accountant
  • Chief Financial Officer (CFO)
  • Chief Manager- Internal Audits
  • Head –Training
  • Lecturer/Professor
  • Chief Manager-Management Audits
  • Chief Manager- System
  • Advisor to the Government
  • CA can choose to start up their independent practice or make their clients from merit.
  • They can also apply for the job of a chartered accountant in an existing firm.
  • They can also give their services for the capital market.
  • The qualified CA can apply for a government job, public or private sectors both.
  • The CA can also play an essential role in the firm in taking quick decision and make profits for the firm.


If you have a dream to build a career in accountancy, finance, and business, then Chartered Accountant is the best choice. As a chartered accountant, you will learn what is required to make a business keep running. CAs play a significant role, and they have a fantastic career too. The chartered accountancy also provides a perfect way to set up your own business.

It is a wise idea to enroll yourself in a CA coaching center in Chennai and get succeeded in your life.

Guide to become CMA in India

Cost & Management Accountant is a reputed certification given by the Institute of Cost Accountants of India (ICAI), India. People usually get confused between various terms like CMA, ICMAI, CWA, and ICWAI. The Institute of Cost & Works Accountants of India (ICWAI) has changed its identity into The Institute of Cost Management Accountants of India (ICMAI). ICWA course has been renamed as CMA course. Therefore, technically there is no difference between ICWAI and CMA, they are the same.

CMA is one of the toughest professional exams in India and usually has a pass percentage between 5% to 25%. CMA is gaining popularity among commerce students who are contemplating to be professionals in accounting & finance domain due to its immense industry recognition.

This article will give a clear understanding about CMA course details, syllabus, career prospects and so on.


Three CMA Levels

  1. CMA Foundation
  2. CMA Intermediate
  3. CMA Final


CMA Eligibility


CMA Foundation eligibility criteria and details

  • To become a Cost Management Accountant, one should complete these three levels of CMA course.
  • Students who have passed 10th and +2 are eligible for the CMA Foundation
  • CMA exams are conducted by The Institute of Cost Accountants of India two times in a year in the months of June and December.
  • Once you have passed the CMA Foundation, you are eligible for CMA intermediate.
  • If you have any graduate degree, then you are exempted from ICMAI Foundation exams. You can directly appear for CMA Intermediate.

CMA Intermediate eligibility criteria and details

  • A candidate should have passed (10+2) and Foundation Course of the Institute of Cost Accountants of India
  • Graduation in any discipline other than Fine Arts.
  • Qualified in ICSI Foundation or ICAI Intermediate.
  • It is mandatory to complete Communication and Soft Skill (CSS) Training for 3 days and Complete Computer Training for 100 hours before appearing the exam.

CMA Final eligibility criteria and details

Any candidate can apply for this course after qualifying the CMA Intermediate course.


CMA Exam Dates


Calendar of Important due dates for students

Please note the due date / last date scheduled for fulfilling the particular requirements for appearing in the June and December term examination respectively. The dates for June 2020 and Dec 2020 have been changed due to Covid-19 and new dates announced can be seen in our blog.

Important Dates for CMA Exam
Important Dates for CMA Exam

Instructions:
  • The students are advised to complete the requirements for appearing in the June/December Term examination in time without waiting for the scheduled last date/due date.
  • Students are advised to check for the update announcements on the website regularly.


Steps to become a CMA

Steps to become a CMA
Steps to become a CMA


CMA Syllabus


The Institute of Cost Accountants of India has the current syllabus which was published in 2016. Below are the CMA Subjects as per 2016 Syllabus.


CMA Foundation Subjects

Number of Papers – 4

Paper 1: Fundamentals of Economics and Management

Paper 2: Fundamentals of Accounting

Paper 3: Fundamentals of Laws and Ethics

Paper 4: Fundaments of Business Mathematics & Statistics


CMA Intermediate Subjects

Number of Papers – 8

Group I

Paper 1: Financial Accounting

Paper 2: Laws & Ethics

Paper 3: Direct Taxation

Paper 4: Cost Accounting


Group II

Paper 5: Operations Management & Strategic Management

Paper 6: Cost & Management Accounting and Financial Management

Paper 7: Indirect Taxation (Including Customs Act)

Paper 8: Company Accounts & Audit


CMA Final Subjects

Number of Papers – 8

Group I

Paper 1: Corporate Laws & Compliance

Paper 2: Strategic Financial Management

Paper 3: Strategic Cost Management – Decision Making

Paper 4: Direct Tax Laws and International Taxation


Group II

Paper 5: Corporate Financial Reporting

Paper 6: Indirect Tax Laws & Practice (Including Customs Act)

Paper 7: Cost & Management Audit

Paper 8: Strategic Performance Management and Business Valuation

CMA Training

Training to be undertaken During CMA Inter Course (Mandatory)

Complete Computer Training - 100 hours.

Complete Communication and Soft Skills Training (CSS) - 3 days


Training to be undertaken During CMA Final Course (Mandatory)

Complete Industry Oriented Training Programme (IOTP) - 7 Days


Practical Training (Mandatory)

Practical training has to be undergone by all students for a duration of 15 months. Students can undergo the practical training after registration into Intermediate course or before appearing for final examination.


CMA Career Scope

CMA Certification is an ultimate opportunity to get better-paying jobs. According to the recent survey, CMA certification holders earn 30% more than the non-certified counterparts.

CMA students get opportunities across all areas of an organisation from planning, decision support and control function. They hold designations like CFO, CTO, Treasurer, VP (Finance), Controller, Finance Manager, Internal Auditor, Budget Analyst, Financial Analyst, Corporate or division planner, Senior Accountant, Cost Accountant, Staff Accountant, etc.

Top Fortune companies all over the world have CMAs in their key management. There is a lot of diverse opportunities for CMA Students in India and abroad. The salary of a CMA usually starts from ₹5,00,000 per annum for an entry-level jobs and goes upto ₹30,00,000 to ₹50,00,000 per annum for senior level CMA job profiles.

Therefore, it’s worth investing your early age time to gain the required skills and certification. Hence it is proved that investing in CMA certification provides an ample opportunity to enjoy a successful career.


CMA Role

Improving cost efficiency

Resource and performance management

Financial reporting and strategy

Cost audit and assurance

Direct and indirect taxation

Internal audit and management audit

CMA Course Details – Registration Last Date | Foundation, Inter, Final | ICMAI 2020

The last dates for registration fall at least four months prior to the month in which examination is held. See below ICMAI or CMA Foundation registration last dates.


ICMAI or CMA Foundation Registration Last Dates

For June Examination of the same calendar year = 10th Feb 2020

For December Examination of the same year = 31st July 2020

The June 2020 and Dec 2020 dates have been changed due to Covid-19 impact. Please refer to our blog for more details.


CMA Fee Details

CMA Course Fee Details | Foundation Inter Final | ICMAI 2020

Read below ICMAI or CMA Foundation, Inter and Final Fee Details

Institute Course Fee

Foundation = ₹ 4,000

Inter = ₹ 20,000

Final = ₹ 17,000

Inter fees can be paid either in full or as two installments.


CMA Registration


Students who intend to pursue CMA can register in ICMAI website for CMA Foundation or Inter or Final. The following details are needed to proceed with the Registration process.

  • Contact Details including Address, Mobile Number and Email id.
  • Attachment Details:
  1. Coloured Scanned copy of Passport size photo in JPG or JPEG format.
  2. Age proof Certification in PDF format with size not exceeding 300 kb.
  3. Scan copy of Signature in JPG or JPEG format.
  4. Educational Qualification certificates in PDF format size with size not exceeding 300 kb in each file.

CMA Study Material

Once the registration is successful and registration number is generated, the study materials will be dispatched. The online study materials and free video lectures can be accessed in our app.

Have more questions? Check our FAQ section.

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