CMA – Cost & Management Accountant
These days, CMA course is gaining popularity among commerce students, who want to pursue a career in the area of Cost and Management accounting. Students are curious about the CMA course subjects, CMA course syllabus, CMA course exam dates and CMA course career prospects.So, in this this article we are providing all the important CMA course details.
Over the time we have seen that people tend to confuse between various terms like CMA, ICMAI, CWA, and ICWAI. So, to end your all confusion, Institute of Cost & Works Accountants of India (ICWAI) has changed its name into The Institute of Cost Management Accountants of India (ICMAI). Also, ICWA course has been renamed as CMA course. There is no difference between ICWAI and CMA, and they are the same. They are two different words used to describe one single thing. ICWAI stands for Institute of Cost and Work Accountant of India whereas CMA stands for Cost Management Accounting. Apart from the literal meaning, there is no difference at all.
There are 3 stages in ICWA course i.e.,
- CMA Foundation,
- CMA Intermediate
- CMA Final.
If you want to become Cost management accountant, you should complete these three stages of CMA course. Students who have passed 10+2 are eligible for the CMA Foundation exam. The Institute of Cost Accountants of India conducts CMA Foundation exam two times in a year in the months of June and December. If you have passed CMA Foundation exam, then you are eligible for CMA Inter. If you have any graduate degree, you are exempted from ICMAI Foundation exams. You can directly enter into CMA Inter.
Eligibility criteria for CMA Foundation
- A candidate should have passed Class 10 or equivalent from a recognized Board or Institution.
- Passed Senior Secondary Examination under 10+2 scheme of a recognized Board or an Examination recognized by the Central Government as equivalent thereto or has 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.
Paper – 1 : Fundamentals of Economics & Management
Paper – 2 : Fundamentals of Accounting
Paper – 3 : Fundamentals of Law & Ethics
Paper – 4 : Fundamentals of Mathematics & Statistics
Paper – 5 : Financial Accounting
Paper – 6 : Laws & Ethics
Paper – 7 : Direct Taxation
Paper – 8 : Cost Accounting
Paper – 9 :Operations Management & Strategic Management
Paper – 10 : Cost & Management Accounting & Financial Management
Paper – 11 : Indirect Taxation
Paper – 12 : Company Accounts & Audit
Paper – 13 : Corporate Laws & Compliance
Paper – 14 : Strategic Financial Management
Paper – 15 :Strategic Cost Management – Decision Making
Paper – 16 : Direct Tax Laws & International Taxation
Paper – 17 : Corporate Financial Reporting
Paper – 18 :Indirect Tax Laws & Practice
Paper – 19 : Cost & Management Audit
Paper – 20 : Strategic Performance Management & Business Valuation