Cost & Management Accountant (CMA)

Cost & Management Accountant (CMA)

author

Dalbir

(0 reviews)

Course Description

The Institute of Cost Accountants of India (erstwhile The Institute of Cost and Works Accountants of India) was first established in 1944 as a registered company under the Companies Act with the objects of promoting, regulating and developing the profession of Cost Accountancy. The Institute of Cost Accountants of India is the only recognised statutory professional organisation and licensing body in India specialising exclusively in Cost and Management Accountancy.

CMA Course at a Glance

CMA online classes

Who is a Cost Accountant??

A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements.

Opportunities to CMAs

Cost Accountants are in great demand in government sector, private sector, banking & finance sector, developmental agencies, education, training & research sector as well as in service and public utility sector.

To name a few opportunities with CMAs

CMAs in Practice:

  • Audit Assignments under Central Goods & Services Tax Act, 2017, Central Board of Excise and Customs (CBEC), Companies Act, 2013, Ministry of Finance etc.
  • Certification Areas under Ministry of Commerce and Industry, Department of Industrial Policy and Promotion, Companies Act, 2013, Central Excise Act, 1944, Customs Act, 1962 etc.
  • Powers and rules as per Companies Act, 2013
  • Other Statutory work like being a Valuer, e-return intermediaries, Certified Facilitation Centers (CFCs), Custom Broker etc.
  • Appearance as an Authorized Representative
  • Other work as stated by Reserve Bank of India

Cost Accountants in Employment:

A CMA can hold top positions in the organizations, like

  • Chairman & Managing Director,
  • Managing Director,
  • Finance Director,
  • Financial Controller,
  • Chief Financial Officer (CFO),
  • Cost Controller,
  • Marketing Manager and
  • Chief Internal Auditor etc.,

Cost Accountants in Government Department:

The Central Government has constituted an all-India cadre known as Indian Cost Accounts Service (ICoAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies.

Cost Accountants in Education:

As per the regulation prescribed vide its Circular No. F.3-1/2009 dated 30th June 2010, the qualifications specified for appointment of Assistant Professor, Associate Professor and Professor in the area of Management/ Business Administration and Principal/Director/Head of the Institution include “First Class Graduate and professionally qualified Cost Accountant among other qualifications and subject to other requirements including qualifying NET/SLET/SET” as the minimum eligibility condition for recruitment and appointment of Assistant Professors.

For more details understanding about the different career prospects, you can refer this link to ICMAI’s website
https://icmai.in/studentswebsite/Career_Prospects.php

Three levels of Examination

Eligibility Criteria:

  • A candidate should have passed Class 10 or equivalent from a recognized Board or Institution.
  • The candidate should have:
    • Passed Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or
    • Passed National Diploma in Commerce Examination held by the All India Council for Technical Education or any State Board of Technical Education under the authority of the said All India Council, or the Diploma in Rural Service Examination conducted by the National Council of Higher Education.

Documents Required for Registration:

For Offline registration, you will need the following

  • Attested copy of 10th Certificate
  • Attested copy of 12th Certificate or Marks Statement
  • You will need 3 (Three) Passport size photographs:
    • One pasted on application form,
    • One pasted on identity card and
    • One to be attached with application

Note:

The attestation of the documents should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/State Legislative Assembly or a Gazetted Officer or a Principal of a college.

For Online registration, you need the following

  • Coloured Scanned copy of Passport size Photo in (JPG OR JPEG format)
  • Scan copy of Signature in (JPG OR JPEG format)
  • Age proof Certificate in (PDF format) size not exceeding 300 kb
  • 10th pass certificate not exceeding 300 kb
  • 12th pass certificate size not exceeding 300 kb

Registration Procedure:

A candidate can register by either – 

  • filling up the CMA Foundation Registration form offline or 
  • through CMA Foundation Online Registration

To register offline – 

  • Make payment through Debit/Credit card or Internet Banking/Pay Fee Module of IDBI
  • Download and fill in this form along with transaction details. Refer ICMAI’s website to download the form – https://icmai.in/studentswebsite/formdownload.php
  • Mail this form it along with the requisite documents outlined above to one of the regional centres closest to you. 

Alternately, you can visit the nearest regional council and buy the physical form.

OR

You can follow the following to register online – 

  1. Go to https://eicmai.in/students-new/Home.aspx
  2. Click on red-colored “Click here” button
  3. Click on the tab having “Foundation
  4. Choose your type of coaching, whether Oral or Postal coaching mode.
Oral Coaching Mode: This means that students can attend oral coaching classes at the Chapter/Regional Council chosen by them.

Postal Coaching Mode: You will receive the study materials in the post.

  1. Fill all the details carefully and submit the form.
  2. Choose the mode of payment at the Payment gateway and make the payment.
  3. Take a print out of the application form, for your reference.
  4. All your information will be sent to the Directorate of Studies for verification of your documents. Once this done, your Registration Number will be generated. Remember this number until your CMA Foundation Online Registration process is complete.

Cut Off date for Registration:

  • 31st January for appearing in June of the same year
  • 31st July for appearing in December of the same year

Course Curriculum

Paper 1 – Fundamentals of Economics and Management (FEM) (100 marks)

Paper 2 – Fundamentals of Accounting (FOA) (100 marks)

Paper 3 – Fundamentals of Laws and Ethics (FLE) (100 marks)

Paper 4 – Fundamentals of Business Mathematics and Statistics (FBMS) (100 marks)

The mode of examination will be Descriptive based for all 4 papers.

Eligibility Criteria:

You would become eligible if you have

  • Passed Senior Secondary School Examination/Higher Secondary Examination (10+2) and Foundation Course of the Institute of Cost Accountants of India or
  • Qualified the Foundation (Entry Level) Part I Examination of Certificate in Accounting Technicians (CAT) Course of the Institute of Cost Accountants of India or
  • Degree examination of any recognized University or
  • Pursuing Engineering Course (having completed 2nd year/Semester IV/ equivalent) or Qualified Engineers or equivalent in any subject other than music, dancing, photography, painting & sculpture and the likes.
  • Passed Foundation of ICSI/Intermediate of ICAI by whatever name called along with 10+2.
  • List of other qualifying examination are given vides Annexure VI of prospectus.

Documents Required for Registration:

Provisional (For candidates who are yet to complete Graduation/Equivalent):

The minimum documents required for this are:

  • Passport Photo
  • Signature Copy
  • Age Proof
  • 10th Pass Mark sheet
  • 12th Pass Mark sheet
  • Graduation (1st & 2nd year / 1st to 5th semester) Mark sheet
  • Graduation (3rd year / 6th semester) Admit Card

Regular (For candidates who have Graduated/Equivalent):

  • Passport Photo
  • Signature Copy
  • Age Proof
  • 10th Pass Mark sheet.
  • 12th Pass Mark sheet.
  • Graduation (1st to 3rd year/1st to 6th semester) Mark sheets
  • Any one of the following qualified Mark sheets – 
    • CAT-CMA
    • CMA Foundation
    • CS Foundation
    • IPCC-CA Inter

Regular (For Engineering Graduates):

This includes those candidates who have completed 2nd year/ IV semester / Equivalent or Graduate Engineers (qualified Engineering Final Examination):

  • Passport Photo
  • Specimen Signature
  • Age Proof
  • 10th Pass Mark sheet
  • 12th Pass Mark sheet

2nd year or 4th semester Mark Sheet or equivalent Mark Sheet (for Engineering students) or Engineering Completion Certificate

Note:
All documents need to be duly attested. The attestation of the documents should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/State Legislative Assembly or a Gazetted Officer or a Principal of a college.

Registration procedure:

A candidate can register by either – 

  • filling up the CMA Foundation Registration form offline or 
  • through CMA Foundation Online Registration

To register offline – 

  • Make payment through Debit/Credit card or Internet Banking/Pay Fee Module of IDBI
  • Download and fill in this form along with transaction details. Refer ICMAI’s website to download the form – https://icmai.in/studentswebsite/formdownload.php
  • Mail this form it along with the requisite documents outlined above to one of the regional centres closest to you. 

Alternately, you can visit the nearest regional council and buy the physical form.

OR

To register online – 

  1. Go to https://eicmai.in/students-new/Home.aspx
  2. Click on red-colored “Click here” button
  3. Click on the tab having “Intermediate
  4. Choose your type of coaching, whether Oral or Postal coaching mode.
Oral Coaching Mode: This means that students can attend oral coaching classes at the Chapter/Regional Council chosen by them.

Postal Coaching Mode: You will receive the study materials in the post.

  1. Fill all the details carefully and submit the form.
  2. Choose the mode of payment at the Payment gateway and make the payment.
  3. Take a print out of the application form, for your reference.
  4. All your information will be sent to the Directorate of Studies for verification of your documents. Once this done, your Registration Number will be generated. Remember this number until your CMA Foundation Online Registration process is complete.

Cut Off date for Registration:

  • 31st January for appearing in June of the same year
  • 31st July for appearing in December of the same year

(A Registration is valid for a period of 7 years from the date of registration.)

Course Curriculum

Group - I

Paper 5 – Financial Accounting (FAC) (100 marks)

Paper 6 – Laws & Ethics (LNE) (100 marks)

Paper 7 – Direct Taxation (DTX) (100 marks)

Paper 8 – Cost Accounting (CAC) (100 marks)

Group - II

Paper 9 – Operations Management & Strategic Management (OMSM) (100 marks)

Paper 10 – Cost & Management Accounting and Financial Management (CMFM) (100 marks)

Paper 11 – Indirect Taxation (lTX) (100 marks)

Paper 12 – Company Accounts & Audit (CAA) (100 marks)

The mode of examination will be Descriptive based for all 8 papers.

Eligibility Criteria:

  • Intermediate qualified students are eligible to register to the Final Course of the Institute.

Documents Required for Registration:

  • Passport Photo
  • Your Signature Specimen
  • Age Proof (Aadhaar card, Birth Certificate, Voter ID)
  • 10th Pass Mark sheet
  • 12th Pass Mark sheet
  • CMA Intermediate Pass (both Group-I & Group-II) Mark sheet/Certificate

Note:
All documents need to be duly attested. The attestation of the documents should be by any member of The Institute of Cost Accountants of India /The Institute of Chartered Accountants of India/ The Institute of Company Secretaries of India/Parliament/State Legislative Assembly or a Gazetted Officer or a Principal of a college.

Registration Procedure:

A candidate can register by either – 

  • filling up the CMA Foundation Registration form offline or 
  • through CMA Foundation Online Registration

To register offline – 

  • Make payment through Debit/Credit card or Internet Banking/Pay Fee Module of IDBI
  • Download and fill in this form along with transaction details. Refer ICMAI’s website to download the form – https://icmai.in/studentswebsite/formdownload.php
  • Mail this form it along with the requisite documents outlined above to one of the regional centres closest to you. 

Alternately, you can visit the nearest regional council and buy the physical form.

OR

To register online – 

  1. Go to https://eicmai.in/students-new/Home.aspx
  2. Click on red-colored “Click here” button
  3. Click on the tab having “Final
  4. Choose your type of coaching, whether Oral or Postal coaching mode.
Oral Coaching Mode: This means that students can attend oral coaching classes at the Chapter/Regional Council chosen by them.

Postal Coaching Mode: You will receive the study materials in the post.

  1. Fill all the details carefully and submit the form.
  2. Choose the mode of payment at the Payment gateway and make the payment.
  3. Take a print out of the application form, for your reference.
  4. All your information will be sent to the Directorate of Studies for verification of your documents. Once this done, your Registration Number will be generated. Remember this number until your CMA Foundation Online Registration process is complete

Cut Off date for Registration:

  • 31st January for appearing in June of the same year
  • 31st July for appearing in December of the same year

Course Curriculum

Group - III

Paper 13 – Corporate Laws & Compliance (CLC) (100 marks)

Paper 14 – Strategic Financial Management (SFM) (100 marks)

Paper 15 – Strategic Cost Management – Decision Making (SCMD) (100 marks)

Paper 16 – Direct Tax Laws and International Taxation (DTI) (100 marks)

Group - IV

Paper 17 – Corporate Financial Reporting (CFR) (100 marks)

Paper 18 – Indirect Tax Laws & Practice (ITP) (100 marks)

Paper 19 – Cost & Management Audit (CMAD) (100 marks)

Paper 20 – Strategic Performance Management and Business Valuation (SPBV) (100 marks)

The mode of examination will be Descriptive based for all 8 papers.

About Instructor

error: Content is protected !!