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With the right coaching and resources, you can achieve your CMA certification and take your career to the next level.
In this blog post, we’ll explore the benefits of CMA certification, why 2023 is the perfect time to start your journey, and how Stride Edutech can help you succeed.
So what are you waiting for? Start reading to learn more and ignite your CMA India journey today!
The CMA certification is a professional designation recognised in India for individuals pursuing a career in management accounting and financial management.
Professionals in the management accounting industry may profit in several ways from obtaining the CMA India certification. Here are a few significant benefits:
Here are some of the specific job roles that CMAs can take on in different industries:
CMAs can also work in various other industries, such as retail, education, and non-profit.
The credentials listed below are well-respected and can help you grow in the accounting and finance fields. Depending on the company that gives the certification, the specific advantages will differ, but they can all result in higher pay, more work prospects, and faster career advancement.
Institute of Cost Accountants of India (ICAI)
Bachelor’s degree in accounts or related field, and two years of work experience
American Institute of Certified Public Accountants (AICPA)
Bachelor’s degree in accounts or related field, and 150 semester hours of college coursework
Association of Chartered Certified Accountants
Bachelor’s degree in accounts or related field, and three years of work experience
You must complete three CMA examination levels, including training to become a certified CMA practitioner. They are as follows:
Three levels form the basis of the CMA Course syllabus. The syllabus for the CMA Foundation course includes the basics of accounting and management, and there are two groups of four subjects each for the CMA Intermediate and Final.
Number of Papers
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 Inter / CMA Intermediate
CMA Inter Group 1
Paper 5: Financial Accounting
Paper 6: Laws & Ethics
Paper 7: Direct Taxation
Paper 8: Cost Accounting
CMA Inter Group 2
Paper 9: Operations Management & Strategic Management
Paper 10: Cost & Management Accounting and Financial Management
Paper 11: Indirect Taxation (Including Customs Act)
Paper 12: Company Accounts & Audit
CMA Final Group 3
Paper 13: Corporate Laws & Compliance
Paper 14: Strategic Financial Management
Paper 15: Strategic Cost Management – Decision Making
Paper 16: Direct Tax Laws and International Taxation
CMA Final Group 4
Paper 17: Corporate Financial Reporting
Paper 18: Indirect Tax Laws & Practice (Including Customs Act)
Paper 19: Cost & Management Audit
Paper 20: Strategic Performance Management and Business Valuation
The discussion of eligibility for Foundation, Intermediate, and Final examinations follow.
CMA Foundation eligibility criteria and details
To become a Cost Management Accountant, One should complete these three levels of the CMA course.
Candidates can apply for this course after qualifying for the CMA Intermediate Course.
The registration process for the CMA India exam is as follows:
Step 1: Create an account on the ICAI website.
To create an account, you must provide your name, email address, and contact details. Additionally, you’ll need to create a username and password.
Step 2: Complete the registration form & submit your application fee.
On the ICAI website, you can find the registration form. The application fees vary depending on your educational background and whether you are a first-time or repeat applicant.
Step 3: Upload your academic transcripts and work experience verification.
Verifying your work experience and copies of your academic transcripts must be uploaded. The academic transcripts must be from an accredited institution or university. The work experience verification must be from a company member of the ICAI.
Step 4: Submit your application.
After completing the previous steps, you can submit your application. You will be notified of the ICAI’s application review status within a few weeks.
Online registration is available for the CMA India examination. On the ICAI website, you may find further details regarding the registration procedure.
CMA INDIA has 3 levels – Foundation, Intermediate and Final. The fees of the CMA Foundation should be paid on time. In contrast, CMA Intermediate and Final fees can be paid in instalments.
Note – 2nd instalment must be payable on or before 31st January for the June term and 31st July for the December term of examinations.
The exam will be given twice, in June and December of 2023. The registration dates for each session are as follows:
Institute of Management Accountants (IMA)
The Institute of Cost Accountants (ICmai)
INR 70,000 to 1,00,000
1 to 2 years
3 to 4 years
The average salary in India
8 to 15 lakhs per annum (INR)
5 to 12 lakhs per annum (INR)
Recognised only in INDIA and a few other countries
No levels. Only 2 parts.
The difficulty of the CMA US and the Indian CMA depends on several factors, including your strengths and weaknesses, educational background, and work experience. However, in general, the US CMA is considered to be more difficult than the Indian CMA.
Here are some CMA India exam preparation tips and strategies:
You may speed up your CMA India exam preparation and improve your chances of success by implementing these suggestions and strategies.
The CMA India exam requires solid knowledge and effective test-taking strategies. Here are some strategies to help you perform well on the exam:
Remember to combine these strategies with a solid understanding of the subject matter. Good luck!
Every five years, you must earn 40 Continuing Professional Education (CPE) credits to keep your CMA India certification active. CPE credits can be obtained via various activities, including classes, seminars, and article writing.
You can keep up your certification using several CPE programmes and tools provided by the ICAI. The ICAI website contains more details about CPE.
Here are some benefits of maintaining your CMA India certification:
To stay current and enhance your career, it’s critical to keep your CMA India certification if you’re a certified professional.
The blog discusses the benefits of becoming a CMA India certified professional, the steps involved in becoming certified, and tips for preparing for the exam. The blog concludes by encouraging readers to start their CMA India journey in 2023.
The CMA India certification can help you advance your career in accounting and finance. Stride Eductech Coaching Centre can help you pass the CMA India exam and achieve your career goals. Visit our website to learn more.
The passing score for the CMA India exam is 50% for each paper. You must answer at least 50% of the questions correctly to pass the paper.
You must earn 40 CPE credits every 5 years to keep your CMA India certification active. The ICAI offers a variety of CPE programs and tools to help you stay up-to-date. Visit the ICAI website for more information.
The CMA India exam is offered twice yearly, in June and December.
The CMA India exam is offered at designated exam centres across India.
If you do not pass a paper, you can retake the paper as many times as you need to pass.
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Cost & Management Accountant (CMA) is a designation given to a cost accounting professional who has received certification from the Institute of Cost Accountants of India (ICAI), India. a statutory body.
Cost & Management Accountant or Cost & Management Accountancy
CMA India course is conducted by the Institute of Cost Accountants of India (ICAI) where students have to study 20 papers and CMA US is the course conducted by Institute of Management Accountant (IMA) where students have to study 2 papers.
The fees charged by Institute of Cost Accountants of India (ICAI) for each level is,
CMA Foundation Fees = ₹ 4,000/-
CMA Inter Fees = ₹ 20,000/-
CMA Final Fees = ₹ 17,000/-
There is no articleship required for CMA. Instead, students have to undergo 15 months of practice training.
Yes, ICWA - Institute of Cost and Work Accountant is the previous name of CMA
ICWA - Institute of Cost and Work Accountant is the previous name of CMA
CMA courses can be done either through Foundation Entry Route or Direct Entry Route.
After 12th, Register yourself in (Institute of Cost Accountants of India) ICAI through Foundation entry and clear all three levels with 15 months of practical training.
There are 20 subjects in 3 levels of CMA Course. CMA Foundation is excluded for Direct Entry candidates.
CMA Foundation - 4 Subjects
CMA Inter - Group 1 - 4 Subjects
CMA Inter - Group 2 - 4 Subjects
CMA Final - Group 1 - 4 Subjects
CMA Final - Group 2 - 4 Subjects
Institute of Cost Accountants (ICAI) conducts the exams in June and December every year. The exams in 2020 might be delayed due to coronavirus lockdown.
For June exams, 31st Jan is the last date for registration
For Dec exams, 30th July is the last date for registration