CMA course is among the most promising courses for those aspiring to pursue a professional commerce discipline, particularly in Cost Management Accounting. Global demand and opportunity for CMA have increased over the last several years. Moreover, the CMA Salary in India offered in on and off-campus placements are increasing year by year. Hence many more students are registering for this course.
If a student is skilled and interested in handling the accounts of several firm divisions and merging them to save expenses, then the CMA course is ideal. Before joining the course, CMA aspirants must be aware of some crucial details like its eligibility for registration, duration, fees, syllabus and salary after becoming a CMA. So this post brings all this essential information about the course.
CMA Course Details: A Quick Overview
Below is a table highlighting all the essential details about the CMA exam:
| Particulars | Details |
| Exam Name & Governing Body | CMA – Cost & Management Accounting & ICMAI |
| Eligibility | Passed the 12th class with a minimum of 50 per cent or passed graduation. |
| Course Levels | Three levels: CMA Foundation, Intermediate, and Final |
| Total Papers | 20 |
| Total Duration | Three years |
| Exam Frequency | Conducted twice annually |
| Mode of Paper | Foundation: OnlineInter & Final: Offline pen & paper based |
What is the Eligibility to Register for CMA?
It is vital to be aware of the eligibility criteria of CMA before registering for the CMA course. Students who have completed their +2 examinations are qualified to take the CMA Foundation examinations.
ICMAI administers the CMA foundation test twice yearly, between June and December. Additionally, you are excluded from ICMAI Foundation examinations if you hold a graduate degree. According to the ICMAI, there isn’t any upper age restriction for CMA course applicants. However, applicants must be at least 18 years old.
Cost Management Accounting Course Duration
The entire duration for completing the CMA course is three years. Each level takes place twice annually, and the student interested in appearing for the exam must complete the registration process, or else they won’t be able to appear.
Talking about the exam paper duration, the:
- The CMA Foundation exam duration is 2 hours.
- CMA Intermediate and Final duration are 3 hours.
CMA Course Fees for All Levels
The course fee details are as follows:
| Exam Name | Amount |
| CMA Foundation | Rs 6000 |
| CMA Intermediate | INR 23,100/-If in instalment:INR 12,000/- (1st installment)INR 11,100/- (2nd installment) |
| CMA Final | INR 25,000/-If in instalment: INR 15,000/- (1st installment)INR 10,000/- (2nd installment) |
Syllabus of Cost & Management Accountancy
Now, let’s have a look at the CMA course syllabus. The three levels of the CMA course cover distinct subjects. To become a CMA, you must clear all the examination levels. So here are the syllabus details:
- The first level is CMA Foundation, which requires students to complete four exams.
- The second stage is CMA Intermediate; the course level includes two groups with the characteristics listed below.
- Group 1 includes four papers; students must take all four in a single attempt.
- Group 2 consists of four papers; students must take all four in a single attempt.
However, in some instances, applicants may sit for both groups of the CMA Intermediate examination in a single attempt.
- The third and last stage is the CMA Final, and the exam pattern is the same as the CMA Intermediate. Students may either attempt Group 3 or Group 4, or both groups in a single attempt.
The subjects in all three levels are as follows:
CMA Foundation
- Fundamentals of Economics And Management
- Fundamentals of Accounting
- Fundamentals of Laws and Ethics
- Fundamentals of Business Mathematics and Statistics
CMA Intermediate
Group I-
- Financial Accounting
- Laws and Ethics
- Direct Taxation
- Cost Accounting
Group II-
- Operations Management & Strategic Management
- Cost & Management Accounting and Financial Management
- Indirect Taxation
- Company Accounts & Audit
CMA Final
Group III-
- Corporate Laws & Compliance
- Strategic Financial Management
- Strategic Cost Management – Decision Making
- Direct Tax Laws and International Taxation
Group IV-
- Corporate Financial Reporting
- Indirect Tax Laws and Practice
- Cost and Management Audit
- Strategic Performance Management and Business Valuation
CMA Salary in India
Career opportunities in CMA are vast. After finishing the CMA course, candidates may be eligible for executive-level positions in the public and private sectors. Further, the course gives in-depth knowledge and comprehension of the business, accounting, management, finances, and the law, all of which are essential for obtaining an outstanding career wherever in the globe.
In India, the CMA pay varies from Rs 3 lakhs to Rs 40 lakhs, with an annual average compensation of Rs 10 lakhs (Rs 83000 per month). With knowledge and expertise, a CMA’s maximum annual income might exceed Rs 55 lakhs.
Moreover, the number of attempts and length of time needed to finish the CMA program and your rank (if any) on the CMA Final Exams will also affect your income. Therefore, attempt to pass the CMA exams on the first attempt.
Read More: Beginner’s Study Plan to Crack the UPSC Exams
Conclusion
We hope this post on CMA course details offers all the information on this course. To know more about this course or if you want to join coaching for CMA preparation, contact VSI Jaipur.