The Cost & Management Accountancy (CMA) is a highly reputed certification by the Institute of Cost Accountants of India (ICAI), India. Generally, people confuse between various terms like CMA, ICMAI, CWA, and ICWAI. Therefore, to make it clear, Institute of Cost & Works Accountants of India (ICWAI) has changed its identity into The Institute of Cost Management Accountants of India (ICMAI). Also, ICWA course has been renamed as CMA course. Therefore, technically there is no difference between ICWAI and CMA, they refer to one single thing.
A Cost and Management Accountant (CMA) is a person who performs services involving costing, pricing of goods and services, verification or certification of cost records and taxation, especially in indirect taxation. Unlike pure accounting professionals, the demands for CMA’s cut across functions in all organisations.In Marketing department, he / she requires to prepare the quotation, in production department is required to advise on the profitable product mix, in the purchase department for taking make or buy decision and in top management for identifying business risk and their mitigation. CMA’s also works in the field of risk management and valuation services.
The Cost & Management Accountancy course consists of three levels.
There are two options to pursue a Cost & Management Accountancy (CMA) course.
The CMA exam will be held in June and December 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.
This is the identification for the first level of the CMA (Cost and Management Accountancy) course conducted by the ICMAI (The Institute of Cost Accountants of India). This is the entry-level course for any student intending to take up the Cost & Management Accountant course whether it be after 12th, 10+2 (Intermediate), graduation or post-graduation.Read More
The CMA Intermediate is the second stage of being a CMA (Cost and Management Accountancy). This is also conducted by the Institute of Cost Accountants of India (ICMAI). One can be eligible for CMA Inter only after he/she gets through the CMA Foundation or Graduate of any Discipline (excluding performing art, music) / Pursuing Engineering Course ( having completed 2nd year / Semester IV / Equivalent) / Qualified Engineers eligible to get direct admission to Intermediate Course.Read More
The third level of the CMA (Cost and Management Accountancy) course conducted by the Institute of Cost Accountants of India (ICMAI) is identified as CMA Final. This is the third level course for any student intending to take up the Cost and Management Accountancy course after CMA Intermediate.Read More