Everything about the CMA course in India
ICWA CMA Course Details
three-year program ;
It consists of three levels- Foundation, Intermediate, and Final;
Each level has to be qualified by the applicant in order to earn the accreditation as a CMA.
Eligibility Criteria
ICWA CMA Foundation
1. Must have qualified Class Xth or equivalent from an accredited board/college/university
2. Must have qualified Senior Secondary Examination as per the 10+2 pattern from an accredited Board,
OR
Passed an examination recognized under the Central Government as equivalent
OR
Qualified National Diploma in Commerce Examination conducted by the All India Council for Technical Education [AICTE] or a State Board of Technical Education under AICTE
OR
Completed a Diploma in Rural Service Examination conducted under the authority of the National Council for Higher Education.
Note: Candidates awaiting final exam results are also eligible for admission.
ICWA CMA Intermediate
Completed their 10+2 senior secondary examination as well as the Foundation program provided by the ICAI
OR
Attained a bachelor’s degree in any subject or discipline except for Fine Arts or Foundation (Entry Level-Part I) of either the ICAI’s CAT exam or the Part I exam as well as the competency level, i.e. Part II of ICAI’s CAT.
ICWA CMA Final
Applicant should have passed 10+2
Must hold a graduation degree in any field except Fine Arts
Must have cleared all the papers of the intermediate course
ICWAI Course Duration
ICWA Foundation: Minimum 8 months
ICWA Intermediate: Minimum 10 months
ICWA Final: Minimum 18 months
ICWAI Syllabus
ICWA Syllabus: Foundation
Paper Number
Subject
Paper 1
Fundamentals of Economics
Paper 2
Fundamentals of Accounting
Paper 3
Fundamentals of Law and Ethics
Paper 4
Business Mathematics and Statistics: Fundamentals
ICWA Syllabus: Intermediate
Paper Number
Group 1
Paper Number
Group 2
Paper 5
Financial Accounting
Paper 9
OMSM: Operations and Strategic Management
Paper 6
Law & Ethics
Paper 10
Cost & Management Accounting/Financial Management
Paper 7
Direct Taxation
Paper 11
Indirect Taxation
Paper 8
Cost Accounting
Paper 12
CAA: Company Accounts & Audit
ICWA Syllabus: Final
Paper Number
Group 3
Paper Number
Group 4
Paper 13
Corporate Law & Compliance
Paper 17
Corporate Financial Reporting
Paper 14
SFM: Strategic Financial Management
Paper 18
Indirect Tax Laws, Practice
Paper 15
SCMD: Strategic Cost Mgt: Decision Making
Paper 19
Cost & Management Audit
Paper 16
Direct Tax Laws; International Taxation
Paper 20
SFP: Strategic Performance Mgt & Business Valuation
ICWA intermediate entrance examination
The Institute of Cost and Works Accountants of India conducts the ICWA intermediate test to examine the credentials of students who have completed the foundation course. Students are needed to enroll in the intermediate course after passing the admission exam.
ICWA final examination
The Institute of Cost and Works Accountants of India administers the ICWA final test to determine the integrity of students’ knowledge received across all three courses.
ICWA Results
To be eligible for the ICWA examinations, a candidate must get at least 40% in each subject and a total of 50% or higher.
Admission Process for ICWA CMA Course
For direct entry into the ICWA Course, candidates must fulfill the following conditions:
Graduation in any discipline other than Fine Arts
Qualified CAT of CMA/ICSI Foundation/ ICAI Intermediate
Refer to the “Register to Intermediate Course [Oral/Postal]” on the website for subsequent steps.
ICWA CMA Fees Structure 2022
The ICWA course fee is different for each exam level and ICMAI also avails students with the chance of providing the course fees for the intermediate level in advance. Here are the course fee amounts for ICWA Foundation, Intermediate and Final.
Level
Fees
Foundation
4,000 INR
Intermediate (With Instalment)
20,000 INR
Intermediate
(Without Instalment)
12,000 INR (1st Instalment)
8,000 INR (2nd Instalment)
Final
17,000 INR
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ICWAI Online Classes
ICWA offers its own online classes as an Open Education Resource. You can directly access these videos that are available on YouTube and the ICWA website. These E-Learning resources are available for all the sections of the exam from Foundation to Final Exam.
ICWAI offers online classes on several topics. You can access all the Online Class Videos on ICMAI Website.
Fee Structure for Cost Management Accounting
CMA course fees in India range from INR 50,000 - 2.5 LPA. They may even differ depending on the college/facilities university's and amenities, as well as the level of education provided to students. The CMA fee structure may differ depending on the college or university chosen by the students. The following are the CMA fees in India structure for colleges:
College Name
Fees Per Annum
Lakshya Academy, Kochi
INR 25,000
Amity University, Lucknow
INR 65,000
Shobhit University, Meerut
INR 40,000
Jain University Bangalore
INR 50,000
BCMS, Bangalore
INR 1 LPA
Reasons Why CMA Can Fetch You a Rewarding Career
The CMA course is extremely tough and will test aspirants to their intellectual limits. However, there are numerous benefits to completing the CMA course which can be motivating to any CMA student. The advantages of the doing the CMA course are:
Demand: There is a high demand for CMA graduates in the market because there are numerous control companies, economic and accounting institutes that require graduates, so it is a completely worthwhile career. The procedure is also precise in that aspirants must collaborate with accounting and control firms to resolve a variety of finance-related issues.
Decent Salary and Job Growth: A CMA's scope and revenue in India are approximately INR 4.5 LPA. As a result, graduates in this field have a high potential for advancement, and the working environment is also favourable.
Multiple Sources of Income: Cost Accountants can do their daytime job and freelancing for individuals such as counselling and consulting in need of any management or finance-related problem arising in any organization.
Skills That Make You the Best Cost Management Accounting Graduate
CMA graduates must have certain skills in their course curriculum in order to progress as the best cost accountants or finance professionals. The following are some of the skills required of CMA graduates:
Communication Skills
Analytical Skills
Accounting Knowledge
Problem Solving Skills
Interpersonal Skills
Coaching Select
June 21, 2022