CMA Journey Overview
CMA(Certified Management Accountant) is a professional certification credential in the management accounting and financial management fields.The certification signifies that the person possesses knowledge in the areas of financial Planning,analysis,control,decision,support and professional ethics.
Importance of CMA
It’s important to understand why other people get the CMA certification in order to help see the benefits. However, when making a decision for yourself, you also need to look at your own career path and what will help you get there.
1. Gold Standard in Management Accounting
2. CMA is most Global Management Accounting Certification
3. CMA's Get Paid More
4. CMA Skills are more Practical
Eligibilty Criteria for CMA Course
The eligibilty criteria for all the three levels of CMA are mentioned as under:
- For Foundation a candidate must have passed class 10 and also passed senior secondary exam under 10+2 scheme of a recognized board of examination.
- For Intermediate, student must have passed 10+2 or foundation course of the ICMAI or passed foundation of ICSI or intermediate of ICAI along with 10+2.
- For Finals candidates must passed intermedite course of the institute and completed 15 months of practical training.
Revised Syllabus of CMA Course 2022
The Institute of Cost Accountants of India (ICAI) has introduced the revised syllabus for the CMA course. CMA syllabus 2022 is redefined for the courses commencing from June 2023. Old students can request conversion into the CMA syllabus 2022 via a one-time option to be exercised 6 months before the examination. However, students enrolled and appearing for the CMA exams can opt for the CMA 2016 syllabus until December 2023 term exams.
As per the revised syllabus, the CMA final course will now have three elective subjects. Candidates can choose an elective paper while enrolment. The structure of the course remains the same with four papers in the Foundation course, and eight papers each in the Intermediate and Final courses. Once their request for conversion is accepted,old students have to purchase necessary study Materials under Syllabus 2022 at prescribed prices.
Enrollment of CMA Course
It can be enrolled through an online mode.
- Visit the official website & click on CMA registration process.
- Fill in all the details required
- Upload the documents required
- Pay the course fees
- Print the application form
Please Note: Documents required for registration are passport size photo,
specimen signature,class 10th Marksheet,class 12th Marksheet,Graduation degree & certificates & CMA intermediate pass marksheet.
Scope and Analysis of CMA
Students can appear for CMA from both direct route & foundation route which enables the students to meet at level 2 of CMA Intermediate.
Through CMA Foundation
Through Direct Route
Direct Route means who donot need to give CMA Foundation Exam upon two conditions:
- If you are a graduate
- Passed CS Foundation Exam
- Passes CA Inter Exam
Start immediate CMA Inter Classes after B.com Exam. Last date of admission in CMA is in july so you will eligible for Dec Exam.Preferably student can start studying for CMA from February fom both direct or foundation route.
Strategies for CMA Inter through Direct Route
The institute allows you to enter directly to its inter course under the following scenarios:
- Graduate from any discipline
- Pursuing Engineering Course or Qualified Engineers
- Qualified Foundation Exam conducted by the ICSI
- Qualified the Inter Exam conducted by the ICAI
Candidates awaiting results of degree examinations must also apply for provisional admission.Such students would be provided a time period of 18 months to convert from provisional to regular status.
Revised CMA Course Fee Structure(w.e.f 11th February 2021 Admission & onwards)
|Foundation||Amount of 6000/- is payable|
Option 1: Amount 23100/- payable on or before 31st january for june term and 31st july for december term of examinations.
Option 2: Amount 12000/- at the time of registration into inter course.
11100/- payable on or before 31st January for june term and 31st july to dec term of examinations
Note: It includes Skill Training fees of 1100/-
Option 1: 25000/- payable on or before 31st January for june term and 31st July for dec term of examinations.
Option 2: 15000/- At the time of Enrollment into Final Course
10000/- Payable on or before 31st January for june term and 31st July for December term of examinations.
Last Date for Admission in CMA
|Examination Term||Last Date of Registration|
|June Term||31st January of same year|
|Dec Term||31st July of same year|
Changes in CMA Old Syllabus & CMA New Syllabus
|2016 Syllabus(Old Syllabus)||2022 Syllabus(New Syllabus)|
|Applicable till Dec 2023||Applicable from June 2023|
Paper 1: Fundamental of Economics & Management(FEM)
Paper 2: Fundamental of Accounting(FOA)
Paper 3: Fundamentsl of Law & Ethics(FLE)
Paper 4: Fundamental of Business Maths & Statistics(FBMS)
Paper 1: Fundamental of Business law & Business Communication(FBLC)
Paper 2: Fundamental of Finacial & Cost Accounting (FFCA)
Paper 3: Fundamental of Business Maths & Statistics(FBMS)
Paper 4: Fundamental of Business Economics & Management(FBEM)
Paper 5: Financial Accounting
Paper 6: Law & Ethics
Paper 7: Direct Taxation
Paper 8: Cost Accounting
Paper 9: OMSM
Paper 10: Cost FM
Paper 11: Indirect Taxation
Paper 12: Company Accounts and Company Audit
Paper 5: Business Law & Ethics
Paper 6: Financial Accounting
Paper 7: Direct & Indirect Tax
Paper 8: Cost Accounting
Paper 9: OMSM
Paper 10: Corporate Accounting & Auditing
Paper 11: Financial Mangement & Data Analytics
Paper 12: Mangement Accounting
Paper 13: Corporate Law & Compliance
Paper 14: Strategic Financial Management
Paper 15: Strategic Cost Mangement
Paper 16: Direct Tax Law & International Taxation
Paper 17: Corporate Financial Management
Paper 18: Indirect Tax Law & Practice
Paper 19: Cost & Mangement Audit
Paper 20: Strategic performance Management & Business Valuation
Paper 13: Corporate & Economic Law
Paper 14: Strategic Financial Management
Paper 15: Direct Tax Law & International Taxation
Paper 16: Strategic Cost Management
Paper 17: Cost & Management Audit
Paper 18: Corporate Financial Reporting
Paper 19: Indirect Tax Law 7 Practice
Paper 20A: Strategic performance Management & Business Valuation
Paper 20B: Risk Mangement in Banking & Insurance
Paper 20C: Enterpreneurship & startup
Note: Students will be required to select any one of the three Elective Papers(20A/20B/20C) at the time of enrolment for the final Course.
Decisions to Appear for Both Groups or One Group at a time
The institute allows you to appear for both the options. But it is always adivisable to prepare for both groups at a time to pass your CMA Exam.Appearing for Both Groups simultaneously increases the probability of clearing the exam.
Average Study Time
The following table illustrates the detailed preparation time of the Inter Exam in 3 cases.
- If you appear for both groups - Minimum 10 months study time required
- If you appear for group 1 - Minimum 6 months study time required
- If you appear for group 2 - Minimum 6 months study time required
- As per this you are required to do the classes for 6 days a week i.e.on an average 25 days per month and 1 day per week should be devoted for revision and for referring to the institutes study MAterial of the topics that have been covered during the week for every subject.
- The above timeline has been prepared assuming that you are taking classes for every subject.However if you are not taking classes for any particular subject then you should do an equivalent amount of self study for that subject.
Assumption for appearing Both Groups Simultaneosuly
If you are planning for both groups you are mandatory to do the soft skill computer training.There are some benefits for giving both groups at a time.
- You are 6 months ahead of others
- Setoff Effect
- All India Rank
CMA Offline Exam Pattern | CMA Jan 2023 Exam Pattern
Training Requirements for New Syllabus of CMA Students
|Intermediate Level||Final Levels|
Cambridge University press soft Skills
|Industry Oriented Traing Programme ( 7 Days)|
Career Opportunities for CMA Students
Opportunities for Practice:
- Cost Audit Advising on cost record maintainence
- GST Audit & Consultancy
- Custom Audit & Certification
- Insolvency Professionals
- Registered Valuer
- Tax & Accounts Consultancy
- Project Management
- Surveyor & loss Assessor
- Consultant to Banking Sector & financial Institution
- Internal Audit
- Stock Audit & Concurrent Audit
- Management Consultancy & Financial Services
- Trustee Executor Administrator
- Assignment by the central or state government,court of law,law tribunals or any other statutory Bodies
Opportunities for Consultancy Services:
- Cost & Mangement Accountant
- Financial Management
- Financial/Business Analyst
- System Analyst & System Management
- Auditing , Internal Control
- Tax Management Dt & IDT
- Capital Market Analyst,Fund Manager,portfolio Analyst
- ERP Implementation
- Process Analysis in BPO/KPO
- Implementing Business Intelligence System
- Aacdemic opportunities
Places or Firms Where Students Can do Articleship
A Cost & Management trainee shall undergo practical training Under:
1. Practicing Cost Accountant
2. A firm of Cost Accountant
3. In any of following Organisations
- Central/State Government
- Banks/Insurance/Other Financial Institutions
- Public sector Undertakings
- Universities & Management Institutes and any other recognised Educational Institutes.
- Cooperative Societies & NGO's
- CA's/CS's firm having separate management consultancy division and the applicant is working exclusively in that division.
Note: CA/CS articleship will not be set off/entertained /not to be recognised for CMA Practical Training
- Any other organisations with a turnover of 25 lacs in case service sector or 50 lacs in case of other than service sector.
- Management Consultant in individual capacity depending on the size of the firm,nature of duties handled by the applicant related with cost & Management accounting / Financial accounting / taxation.
Hope you can find this article helpful. If you did like this Blog then Share it with your friends who are doing Professional studies or who are planning for appearing in any of the professional studies in the near future. All The Best.
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