Cost and Management Accounting courses (CMA) to become business leaders

Cost and Management Accounting courses (CMA) is a popular accounting course for Commerce students. This article provides knowledge with regard to eligibility criteria, nature of the course, various subjects dealt with in the course, career opportunities available for this course, etc.


Cost and Management Accounting courses (CMA)is accounting course available for successful Commerce students of Intermediate. Actually, one of the old organizations 'Institute of Cost and Works Accountants of India (ICWAI)' has changed its name to 'The Institute of Cost Accountants of India (ICAI)'. The course name is now changed from ICWA to CMA. The students who opt for this course can develop into business leaders especially necessary for the Corporate world. The following article provides the various details of the course.

Nature of the course

Students who are much interested in an Accounting career, Cost and Management Accounting courses (CMA) are best suited for them to excel in this field. Students who opt for these courses will develop the skills necessary to manage corporate organizations. They learn skills in Valuation Issues, Financial Statement Analysis, Working Capital Policies, Externa Financial Reporting, ETC. OF Accounting. Students have to take CMA courses in three levels- Foundation Course, Intermediate Course, and Final Course.


For Foundation course, a student can apply with 10th or equivalent pass certificate. But appearing for the Foundation exam of CMA, the candidate must pass the Intermediate course.

For the Intermediate CMA course, a candidate must pass any undergraduate course.

For the Final level CMA course, the candidate must pass CMA Intermediate. The candidate has to register for three years of Practical Training Component. For applying for CMA Final, a candidate must have completed 15 months of training in advance.

Course Fees

The course Fee for CMA will be different for the three levels. For Foundation Course Rs.6000, for Intermediate level Rs.23,100 and for Final Course Rs.25,000. The Final fee can be payable in two installments. The Institute of Cost Accountants of India (ICAI) started its registration for the course online for the academic year in June 2022.

Subjects in CMA

There will be 4 papers in Foundation Course while Intermediate and Final courses will have 8 papers of each of two groups. So, the entire course will have 20 papers and the candidates have to pass all 20 papers. The exams will be in the descriptive mode and each paper is for 100 marks and the time duration of the paper is 3 hours.

Papers in Foundation course

The following four papers will be in Foundation course:-
  1. Fundamentals of Economics and Management
  2. Fundamentals of Accounting
  3. Fundamentals of Loss and Ethics
  4. Fundamentals of Business Mathematics Statistics

Papers in Intermediate Course

  1. Financial Accounting
  2. Loss and Ethics
  3. Direct Taxation
  4. Cost Accounting

  1. Operations Management and Strategic Management
  2. Cost and Management Accounting and Financial Management
  3. Indirect Taxation
  4. Company Accounts and Audit

Final Course Papers

  1. corporate Loss and Complaints
  2. Strategic Finance Management
  3. Strategic Cost Management and Decision Making
  4. Direct Tax Loss and International Taxation

  1. Corporate Financial Reporting
  2. Indirect Tax oss and Practice
  3. Cost and Management Audit
  4. Strategic Performance Management and Business Valuation

Pass Requirements in CMA

  • To qualify in the Foundation Course, a candidate must get 40% marks to pass in each and every subject and also must get a total average of 50% or more. If the candidate fails in any of the subjects by getting 40% below then the candidate has to reappear for all the subjects at once.
  • In Intermediate and Final courses also a candidate has to get 40% marks in every subject to pass and an average of 50% in all the subjects together.
  • Suppose if a candidate fails to pass in group subjects at a time and if the candidate gets 60% marks in some subjects, then the student will be given concession in the reappearance of those subject exams.
  • The pass percentage in CMA courses is usually low because of more papers and the toughness of the exam pattern. The statistics of pass percentage show in Foundation course is 75%, Intermediate level 51% and Final course is 38%.

Attractive Salaries

If the candidates work hard with concentration and determination and it is easy to come out successful in this course. If a student comes out successful in this course with a good score and can handle posts like Finance Manager, Finance Analyst, Chief Financial Officer, Financial Controller, Corporate Controller, Chief Investment Officer, Cost Accountant with a very good salary. The starting salaries for these posts usually range between 7 lakhs to 10 lakhs.

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Author: Dhruba16 Nov 2021 Member Level: Gold   Points : 3

Yes, the CMA course is designed in such a way that the student has to go into every aspect of its deep objects allowing them to work as a leader in corporate sectors. Its head office is situated in Kolkata along with various regional and study chapters throughout India and many other countries also. Becoming a CMA is not an easy task, one has to study hard to pass the course. There are various coaching institutes providing special study notes, guidance etc. After passing one can go for self-practice in the fields of Internal and cost audit, consultancy services etc or can join any organization.

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