Everything you need to know about CMA Exam
Table of content:
The full form of CMA is Certified Management Accountant. The Institute of Cost Accountants of India (ICMAI), formerly known as the Institute of Cost and Works Accountants of India (ICWAI), is responsible for conducting the CMA examinations in the country. Established to promote and regulate the cost and management accountancy profession, ICMAI offers a structured pathway to becoming a CMA through three main levels of exams:
To pursue the CMA course, candidates must fulfill certain eligibility criteria for each level:
CMA Foundation Course:
CMA Intermediate Course:
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Paper 1 : Fundamentals of Business Laws and Business Communication |
100 marks |
|---|---|
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Paper 2 : Fundamentals of Financial and Cost Accounting |
100 marks |
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Paper 3 : Fundamentals of Business Mathematics and Statistics |
100 marks |
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Paper 4 : Fundamentals of Business Economics and Management |
100 marks |
The CMA Foundation registration process is fully online, making it easy and convenient for aspiring candidates. Here's everything you need to know:
To successfully pass the CMA Foundation exam, students must meet the following criteria:
This means that a student must score at least 40 marks in each paper and achieve a total of 200 marks out of 400 across all four papers.
Group 1
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Paper 05 : Business Laws and Ethics (BLE) |
100 marks |
|---|---|
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Paper 06: Financial Accounting (FA) |
100 marks |
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Paper 07: Direct and Indirect Taxation (DITX) |
100 marks |
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Paper 08: Cost Accounting (CA) |
100 marks |
Group 2
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Paper 09: Operations Management and Strategic Management (OMSM) |
100 marks |
|---|---|
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Paper 10 : Corporate Accounting and Auditing (CAA) |
100 marks |
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Paper 11 : Financial Management and Business Data Analytics (FMDA) |
100 marks |
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Paper 12 : Management Accounting (MA) |
100 marks |
Group 1
|
Paper 13 : Corporate and Economic Laws (CEL) |
100 marks |
|---|---|
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Paper 14 : Strategic Financial Management (SFM) |
100 marks |
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Paper 15 : Direct Tax Laws and International Taxation (DIT) |
100 marks |
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Paper 16 : Strategic Cost Management (SCM) |
100 marks |
Group 2
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Paper 17 : Cost and Management Audit (CMAD) |
100 marks |
|---|---|
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Paper 18 : Corporate Financial Reporting (CFR) |
100 marks |
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Paper 19 : Indirect Tax Laws and Practice (ITLP) |
100 marks |
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Paper 20 : One of the following subjects.
|
100 marks |
Here are some of the top companies that actively recruit CMAs in India:
The CMA course is ideal for students and professionals who want to excel in management accounting. If you aspire to a career in this field or aim to enhance your accounting skills, pursuing CMA will provide you with both practical and professional knowledge. The certification is recognized globally, offering job opportunities abroad.
In total, students must clear 20 papers to qualify as a Cost and Management Accountant.
Cost and Management Accounting is one of the most rewarding professions in India. As a fresher, the average starting salary for a CMA ranges from INR 4-5 lakhs annually. With experience, CMAs can expect to earn between INR 10-12 lakhs per year. The salary for CMA professionals depends on various factors such as job role, location, and level of experience.
Here’s a breakdown of CMA salaries in India:
CMA professionals enjoy competitive salaries, with great potential for growth and advancement in the field!
The career opportunities for CMA-certified professionals are vast. Upon completing the CMA course, candidates can secure top management roles in both the public and private sectors. The CMA program equips individuals with in-depth expertise in business, accounting, management, finance, law, and more, opening doors to high-paying jobs worldwide.
With a CMA certification, you can excel in the fields of finance and management. Numerous sectors offer job opportunities for CMAs, including research institutes, consulting firms, financial institutions, government bodies, public utilities, and stock exchanges. Organizations across industries highly value CMA professionals.
Here are the 5 major advantages of pursuing the CMA course and having its certification in India:
CMA certification opens doors for career advancement. As a management-level credential, it equips you with the skills to take on higher responsibilities and manage accounts and finances more efficiently.
CMAs earn higher salaries compared to other applicants. Due to their rapid progression into management roles, CMA-certified professionals enjoy significant pay raises and are highly sought after by companies.
3. Global OpportunitiesCMA is recognized worldwide, offering opportunities beyond your home country. With CMA certification, you gain access to international jobs with better pay and industry exposure, making it easier to transition to global roles.
CMA professionals are highly valued by large MNCs due to their expertise in accounting and business management, making them in great demand for top-level positions.
The CMA course offers extensive knowledge in accounting and business. Graduates are well-versed in understanding the financial aspects of business operations, making them more appealing to employers.
Students will get their CMA results after forty days, or six weeks following the completion of the exams. The ICMAI will release the result on its website. Further, to pass the CMA Exam, a minimum score of 360 out of 500 is necessary.
To check the results, follow these steps:
Usually, CMA releases the CMA exam admit cards a week before exams. The admit cards for CMA exams are
accessible for online download from ICMAI’s official site.
It is mandatory for all students to carry the admit card in the examination hall. Otherwise, you will not
be allowed to sit for exams. Therefore, it is always wise to check the ICMAI website regularly for notifications.
The admit card includes essential information for verification on exam day. The following information
appears on the admission card for the candidate:
After the admit card has been published on the site, the candidates must verify the information printed on it. If there are any errors in the information, the candidate may notify the ICMAI authorities within the allotted time frame to address the error. Moreover, contact the authorities if you can’t access the admit card.
If a student can’t clear a group but gets 60+ marks in any of the papers in that group, then he will be exempted from appearing in that paper on the next attempt. However, to calculate the overall percentage in the next attempt, the marks of the exempted paper will be taken as 50.
Carry Forward Marks in CMA Exams
If a candidate can’t clear a group but gets 60+ marks in any paper and more than 40 marks in all the papers, then the marks of the exempted papers will be carried forward in the next attempt.
The ideal time to start the CMA course is after completing Class 12. Starting early allows you to finish your certification sooner, giving you the opportunity to pursue further courses like CA, CFA, or an MBA in finance.
For students aiming for a career in Management Accounting in the USA, the Certified Management Accounting (CMA) course is offered by the Institute of Management Accountants (IMA). The US CMA course comprises 2 parts with a total of 12 papers, covering topics like Financial Planning, Performance & Analysis and Financial Management. The course duration is between 1.5 to 3 years.
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