CMA Course Details
ICWA (CMA) Course
CMA India

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

By Coaching Select


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,
Passed an examination recognized under the Central Government as equivalent
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
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
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.


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


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.




4,000 INR

Intermediate (With Instalment)

20,000 INR

(Without Instalment)

12,000 INR (1st Instalment)

8,000 INR (2nd Instalment)


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


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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