A Certified Management Accountant (CMA) is a professional specialisation in financial management and accounting for businesses and organisations. This qualification proves that a person is knowledgeable in both financial accounting and strategic company management. As a result, rather than audits, taxes, and other conventional accounting material, the CMA education process focuses on corporate decision-making.Check Out: Best Courses after 12th Commerce.
Obtaining the CMA certification is a wonderful career move, especially if you want to work in management accounting. But, before you begin, it is critical that you understand every aspect of the course, including eligibility, exam structure, salary, and the prospects it will provide. Check out: BBA Vs BCom- Which is Better?
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CMA Course Details
Check out the CMA course details in the table below.
| Course Level | Certificate Course |
| CMA Full Form | Certified Management Accounting |
| CMA Course Duration | 3-4 years |
| CMA Eligibility | Bachelor Degree along with 2 years of Experience |
| CMA Colleges in India | GCEC Jaipur, EBS Navi Mumbai, Jettwings Group of Institutes |
| CMA Course Fees | INR 100,000 |
| CMA Salary | INR 7 lakhs |
| Top Job Profiles | Finance Manager, Budget Analyst, Internal Auditor, Financial Analyst, Cost Accountant, Senior Accountant, etc. |
| Top Recruiting Companies | AT&T, Alcoa, Cargill, Boeing, Bank of America, etc. |
People Also Read: FCA Course (Fellow Chartered Accountant)
What is CMA Course?
CMA, or Cost and Management Accounting, is a certificate course that awards the CMA title to those who complete it. The certification opens the door to a successful career in company accounting. The CMA course is built on four knowledge pillars: management, regulatory framework, strategy, and financial reporting. A candidate is designated as a CMA after passing the CMA test at one of the three levels listed below:
- Level 1: Fundamentals
- Level 2: Intermediate
- Level 3: Completion
Popular Courses-
What is CMA Full form?
CMA full form is Certified Management Accounting. It is a certificate course provided by the Institute of Management Accountants or IMA in the USA. The Certified Management Accounting course helps to get specialize in Management and Executive level duties.
CMA Course Objectives:
- Navigating through excel efficiently & effectively
- Representing and formatting data
- Plotting various charts
- Performing sensitivity analysis
- Using various analytical tools in excel
- Using formula's and functions
- Organizing and analysing large volume of data
- Creating MIS report
- Case Studies
CMA Course Eligibility Criteria
The eligibility criteria to apply for CMA exam at all three levels vary. Space below mentions the CMA course eligibility criteria for all three levels.
CMA Foundation Eligibility Criteria
- Have passed Class 10 or equivalent followed by Class 12 or equivalent
- If they have received National Diploma in Commerce Examination (AICTE or by any recognised board)
CMA Intermediate Eligibility Criteria
- Passed SSC or equivalent
- Foundation or entry level of Common Admission Test (CAT) by Institute of Cost Accountants of India (ICAI)
- Graduation in any stream (except Fine Arts)
- Even students who are awaiting results would pass CMA course eligibility
CMA Final Eligibility Criteria
- Students who are done with their Intermediate level at school
- Graduation in any stream (except Fine Arts)
- Have passed all eight papers of the Intermediate course
Check Out : CA Salary in India.
Why Pursue CMA?
There are several reasons why you should take the Certificate Management Accounting course. Check them out in the list below.
- Good Salary - Candidates with the CMA degree receive a good salary. According to Payscale, the average annual income for Certified Management Accountants in India is around INR 7.90 lakhs.
- Explore Different Fields - CMA candidates get in-depth expertise in the fields of management, finance, and accounting. It is one of the globally recognised qualifications that allows access to the corporate world.
- Job Scope - There are numerous jobs available after completing the CMA Certification Management Accounting course. Candidates can either start a job and work in top positions for numerous recognised companies, or they can seek additional education in the accounting area and build their resume.
- Career - Candidates with a Certificate Management Accounting degree can work in prestigious employment positions such as Finance Manager, Budget Analyst, Cost Accountant, Senior Accountant, Internal Auditor, Financial Analyst, Corporate or Division Planner, and so on.
CMA Online Admission
Check out the online admission process for the CMA course in the points below.
- Register yourself on the official website of the IMA (Institute of Management Accounting) first.
- Apply for the CMA entrance exams, fill out the application form, upload the necessary documents, complete the process by paying the application fees.
- Upon receiving the registration confirmation, you receive the authorization numbers, testing windows and information bulletin.
Know Why ACCA Course is becoming popular among students.
Also know about ACCA Subjects
CMA Registration: Necessary Documents
CMA Course: Foundation
| Documents to be enclosed with application form: | |
| Students desirous to apply for Registration ONLINE | |
| 1. | Attested Copy of Matriculation Certificate |
| 2. | Attested copy of 10+2 Certificate or Marks Statement |
| 3. | Passport size photographs,3(Three) - (One pasted on application form, one pasted on identity card and one to be attached with application) |
CMA Course: Intermediate
| Students Who want to to apply for Registration ONLINE | |
| 1. | Attested Copy of Matriculation Certificate |
| 2. | Attested copy of 10+2 Certificate or Marks Statement |
| 3. | Attested copy of the degree |
| 4. | 3(Three) Passport size photographs - (One pasted on application form, one pasted on identity card and one to be attached with application) |
CMA Course: When to Apply?
| When to apply: |
| Foundation: |
| Admission to foundation course for the ICAI course is open throughout the year However, Students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year. |
| Intermediate: |
| Registration for the ICAI course is open throughout the year However, Students desirous to appear for June Term Examination should apply before 31st January of that year and for December Term Examination should apply before 31st July of that year. |
Also Read: Best Jobs after B.Com.
CMA Application Form Fees
| Examination | CMA Fees |
| CMA Foundation course | INR 6,000 |
| CMA Intermediate course | INR 23,100 |
| CMA Final course | INR 25,000 |
CMA Course Fees
| Category | CMA Course Fees (Rs.) |
| CMA Final Level Students with Graduation | Rs.4,500/- + 18% GST |
| Qualified CMAs | Rs.5,400/- + 18% GST |
| Other Professionals / Post Graduates | Rs.6,000/- + 18 % GST |
Note:
- Other Professionals include 'Corporate Professionals'
- Substantial discount on the Course fees is available for bulk corporate enrolment
Differences between CMA and CA
| CA (Chartered Accountant) | CMA (Certified Management Accounting) |
| The CA is equipped with thorough knowledge of Taxation, Accounting and Auditing. | The Cost and Works Accountant is generally involved in collating, Collecting, assimilating and analysing the financial information of an organisation. |
| It can be attended only after passing Class XII board and completed after graduation from any university. | The Foundation course can be completed after X board but the Intermediate and Final examination requires completion of Class XII and foundation courses of CMA/CAT/ICSI orb Graduation in any discipline other than fine arts. |
| The membership of ICAI requires you to complete the final examination and required work experience along with it. It is very hard to acquire as the exam is more tough than ICWA | There is no prescribed requirement for membership. It is comparatively easier to acquire than CA. |
| The CA has a broader horizon in terms of job profile and gets paid more than ICWA initially | The job profile is limited to cost and financial management for the Cost and Works Accountant and gets paid little less than CA. |
| The certification of CA doesn't allow higher study in management institutes. | The degree of ICWA allows acquiring higher education in foreign institutes. |
CMA USA vs CMA India
Here are the differences between CMA in USA and India:
| Details | CMA USA | CMA India |
| Competent Body | Institute of Management Accountants | Institute of Cost Accountants of India |
| Duration | 1 Year | 3 Years |
| Prerequisites | Graduate + Work Experience | 10+2 Pass |
| Exam Structure | 2 Parts (1 Level) | 3 Levels – 20 Papers |
| Articleship | – | 6 Months |
How to Become a Certified Management Accountant (CMA)
To get the CMA certification, you must have:
- Membership of IMA
- A Bachelor's degree from an accredited university
- Two years of relevant experience
- Passed both the parts of CMA Exams
CMA Exam Pattern
CMA Exam Pattern 2023 for Intermediate and Final Courses
The space below mentions the CMA 2023 exam pattern for intermediate and final courses:
- Exam Mode: Computer Based Test from centre
- Exam Type: Descriptive mode only
- Marks per Paper: Each paper carries 100 marks
- Test Duration: Each paper is of three hours duration
CMA Exam Pattern 2023 for Foundation Courses
The space below mentions the CMA 2023 exam pattern for foundation courses:
- Exam Mode: Remote proctored test from home
- Exam Type: Objective type
- Marks per Paper: Each paper carries 100 marks
- Test Duration: Each paper is of two hours duration
CMA Course Duration & Delivery:
- 50 hours of integrated curriculum spreading across 3 months
- 25 hours of Institute Support – Recorded and Live online sessions by experienced faculty over the weekends covering advanced concepts,practical application of concepts and Query Resolution
- 25 hours of ‘Microsoft Advanced Excel Programme' for ‘Microsoft Office Specialist Certification'
- Microsoft Imagine Academy Certification' after completion of the 25 hours of ‘Microsoft Advanced Excel Programme'
- Online ‘Microsoft Office Specialist Certification'Examination after completion of the 50 hours course
- Microsoft Office Specialist Excel 2019 Certification' after successful completion of the Examination
CMA Result 2023
CMA Intermediate Result 2023
Candidates can check the important dates related to the result of CMA intermediate June 2023 from the table mentioned below. The dates for the CMA Intermediate result 2023 will be updated once notification will be released by the institute.
CMA Intermediate 2023 Results - Highlights
| Event | Date |
| CMA intermediate exam | June 27, 2023 to July 4, 2023 |
| CMA intermediate result | August 2023 (Tentative) |
How to check CMA Intermediate Result 2023?
CMA results will be announced on the website of the institute and can be checked by following the process mentioned below:
- Visit the official website: icmai.in
- Click on the examination tab
- Select the ‘result' option from the menu
- Click on the exam you had appeared
- Enter the 11-digit CMA intermediate registration number and then click on “view result”
- The screen will show the result.
- Candidates can download the result of CMA intermediate 2023 from here and save it for future reference.
CMA Final 2023 Result – Important Dates
| Event | Date |
| CMA Final exam date | June 27 to July 4, 2023 |
| CMA Final result date | August 4, 2023 (Tentative) |
How to Check CMA Final Result 2023?
Candidates can check the CMA Final results 2023 by following the steps given below:
- Visit the official website: icmai.in
- Click on the examination tab
- Select the ‘result' option from the menu
- Click on ‘CMA Final exam result'
- Enter the 11-digit CMA Final registration number and then click on “view result”
- The screen will show the result.
- Candidates can download the result of CMA Final 2023 from here and save it for future reference.
CMA Syllabus and Subjects
The syllabus for the CMA course is as follows:
CMA Syllabus for Foundation Course
| Paper Number | Subject Name |
| Paper 1 | Fundamentals of Economics |
| Paper 2 | Fundamentals of Accounting |
| Paper 3 | Fundamentals of Law and Ethics |
| Paper 4 | Business Mathematics and Statistics: Fundamentals |
CMA Syllabus for Intermediate Course
| Paper Number | Subject Name |
| Group 1 | |
| Paper 5 | Financial Accounting |
| Paper 6 | Law & Ethics |
| Paper 7 | Direct Taxation |
| Paper 8 | Cost Accounting |
| Group 2 | |
| Paper 9 | OMSM: Operations and Strategic Management |
| Paper 10 | Cost & Management Accounting/Financial Management |
| Paper 11 | Indirect Taxation |
| Paper 12 | CAA: Company Accounts & Audit |
CMA Syllabus for Final Course
Paper Number | Subject Name |
Group 3 | |
| Paper 13 | Corporate Law & Compliance |
| Paper 14 | SFM: Strategic Financial Management |
| Paper 15 | SCMD: Strategic Cost Management: Decision Making |
| Paper 16 | Direct Tax Laws; International Taxation |
Group 4 | |
| Paper 17 | Corporate Financial Reporting |
| Paper 18 | Indirect Tax Laws, Practice |
| Paper 19 | Cost & Management Audit |
| Paper 20 | SFP: Strategic Performance Management & Business Valuation |
CMA: Microsoft Office Specialist Course
This ‘Certificate Course in Advanced Business Excel for Finance Professionals [with Microsoft Certification]'intends to train and up-skilling the participants with the advanced and latest tools in Microsoft Excel along with Microsoft Certification.
Why Become Certified?
- More than 50% of today's jobs require some technology skills and experts say that percentage will increase to 77% in the next decade.
- Within next 10 years, 60% of the jobs that will be available do not currently exist.
- In a national Survey done by Mckinsey /Manpower, 50% of employers reported that they are unable to fill the jobs openings with qualified workers.
Online Assessment for Microsoft Certification:
- Online Assessment in MCQ format
- Assessment duration: 50 – 55 mins for 1000 marks
- The participant must secure at least 70% marks to qualify
- Type of Questions – Project based simulation
- Assessment Fees: Rs.1000/- + 18% GST for the first attempt
CMA Responsibilities
The following are the responsibilities that a Certified Management Accountant is expected to fulfill in the relevant job in a corporate.
- The CMA track the financial statements, analyze results, prepare roots and make the strategies to improve the productivity of the company.
- A CMA is responsible for converting the recorded data into financial reports and further for the formulation of the decided financial strategies.
- They play the role of a supervisor of other accountant and accounting manager in the financial department.
- As a financial risk manager, the CMA helps in predicting the future risks that may affect the productivity of a company and further execute to eliminate these risks.
CMA Course: Career, Scope and Salaries
Students are placed both through campus as well as off-campus. Students are equipped to not just pursue strictly accounting profiles on organizations, but can also leverage their knowledge and experience to venture into fields like consulting and management.
CMA Jobs: Roles
Students can explore and take up multiple roles in a company post their course completion. These include:
- Internal Auditor
- Cost Accountant
- Finance Manager
- Assistant Finance Manager
- Chief Financial Officer
- Financial Analyst
- Financial Risk Manager
- Finance Manager
- Financial Controller
- Cost Accountant
- Cost Manager
- Chief Financial Officer
- Relationship Manager
CMA Salary Expectation
As of now, IT, ITeS and Telecommunications happen to be the industries that offer most in terms of remuneration. The average salary offered to freshers starts at INR 22,000-25,000 per month. With experience and exposure, this, of course, would rise. The table below mentions the average salaries of top job positions in organisations offered to candidates holding a CMA designation
CMA Salary In India
| Job Title | Average Salary (In INR) |
| Cost Controller | 6.94 LPA |
| Finance Manager | 10.86 LPA |
| Chief Financial Officer (CFO) | 36.98 LPA |
| Senior Financial Analyst | 8.17 LPA |
| Accountant | 2.92 LPA |
| Certified Management Accountant | 5 LPA |
| Cost Accountant | 7.05 LPA |
| Financial Controller | 24.35 LPA |
| Internal Auditor | 5.85 LPA |
| Finance Analyst | 5.40 LPA |