Everything about the CMA course in India
ICWA has been renamed as the CMA course by the Institute of Chartered Accountants of India. The full form of the CMA course is the Cost Management Accounting course. Check out this blog to know more about CMA Course in India.
June 21, 2022
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 |
|
ICWA CMA Intermediate |
Completed their 10+2 senior secondary examination as well as the Foundation program provided by the ICAI |
|
ICWA CMA Final |
Applicant should have passed 10+2 |
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 |
12,000 INR (1st Instalment) 8,000 INR (2nd Instalment) |
|
Final |
17,000 INR |
Top Recruiters
- Vedanta
- GAIL
- ONGC
- Nestle
- Micro Inks Limited
- Reliance Industries Limited
- ITC Limited
- Saint-Gobain
- Yes Bank
- Inext Infotech Services
- Zexus Air Services Pvt Ltd
- Government and Private Institutions
- ALTRET Industries Pvt. Ltd
- Kotak Mahindra Bank Limited
- Berger Paints
- JK Paper Limited
- Aparna Carbons Private Limited
- Prism Cement
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
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