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What is CMA India?
CMA India is one of the most popular courses in India. It is definitely one of the more lucrative courses you can pursue in a developing nation like India. This course provides you with in-depth knowledge to manage the business within the available resources. As a cost accountant, you have to collect and analyze the financial information from all the areas of a company.
The course is structured in a very comprehensive manner and provides complete knowledge of the financial concepts. The course syllabus is based on international standards so that it is easy for certified CMA professionals can practice in many parts of the world.
What is the difference between CMA, ICMAI, CWA and ICWAI?
People oftentimes confuse themself with various names like CMA, ICMAI, CWA and ICWAI. To clear the confusion the ICWAI (Institute of Cost & Works Accountants of India) have changed their name to ICMAI (The Institute of Cost Management Accountants in India). The ICWA course has been renamed as the CMA course, which means that ICWAI and CMA are actually one and the same.
What are the various stages in the CMA India course?
The three stages in a CMA course are
- CMA Foundation
- CMA Intermediate
- CMA Final
While studying with Lakshya students also have the option to study B.Com along with their CMA India.
What is the eligibility for CMA India?
Eligibility for CMA India Foundation -
- A student must have cleared their 10+2 from any recognized board or an exam that is recognized by the central government to be eligible to appear for the foundation exam.
Eligibility for CMA India Intermediate
- A student must have cleared their 10+2 from any recognised board and the CMA India foundation examination
- Be a graduate of any discipline other than fine arts.
- Cleared foundation Part I level of CAT of the Institute
- Passed the Foundation exam of ICSI/Intermediate of ICAI
- Cleared foundation Part I and Competency part II of CAT of the Institute
Eligibility for CMA India Final
- Qualify CMA India Intermediate examination (both groups)
- Complete Industry oriented training programme
- Complete prescribed practical training/ equivalent
What are the core subjects of CMA India?
A student will have to write 20 papers in CMA Foundation, Inter and CMA final.
Subjects in CMA Foundation are-
- Paper 1: Fundamentals of Economics and Management
- Paper 2: Fundamentals of Accounting
- Paper 3: Fundamentals of Laws and Ethics
- Paper 4: Fundamentals of Business Mathematics & Statistic
Subjects in CMA Inter are -
- Paper 5 Financial Accounting
- Paper 6 Laws, Ethics and Governance
- Paper 7 Direct Taxation
- Paper 8 Cost accounting and financial management
- Paper 9 Operation Management Information System
- Paper 10 Cost and Management Accounting
- Paper 11 Indirect Taxation
- Paper 12 Company Accounts & Audit
Subjects in CMA Final are -
- Paper 13- Corporate Laws and Compliance
- Paper 14- Advanced Financial Management
- Paper 15- Business Strategy & Strategic Cost Management
- Paper 16- Tax Management and Practice
- Paper 17- Strategic Performance Management
- Paper 18- Corporate Financial Reporting
- Paper 19- Cost and Management Audit
- Paper 20- Financial Analysis & Business Valuation
What is the exam pattern for CMA India?
The CMA India exams are held twice in a year. June and December, respectively. You can register online through ICAI’s official website. You can make the payment either online or offline.
The examination is in a pen and paper mode. Students who have cleared 12th can write the exam. The exam is 3 hours long and has 100 MCQ’s. Among the questions 60% of the questions will be objective and 40% of the questions will be subjective.
What is the duration of the CMA India Course?
The CMA India foundation course is a 7-month course. To appear for CMA inter(both group) you will require 6-7 months of coaching. After which you can appear for the CMA Final course (both group) with 9 months of coaching and training. Practical training of a minimum of 6 months is necessary to appear for Final which is included in the 9 months. The qualification has covered all the topics in detail that will broaden the student’s skills and they can use these skills to showcase their quality as a professional.
When is the last date for registration of CMA India?
Admission for CMA is open throughout the year. But the last date for exam registrations is as follows.
For the June exam in the same year
Apply before 31st January
For the December exam in the same year
Apply before 31st July
Students are requested to check exam updates on the official website regularly.
What are the Career scope/job opportunities of a CMA India student in India?
A CMA certified professional will have opportunities across all areas in an organisation, they will help with decision support, planning and control functions. They have high demand in the government sector, private enterprises, development agencies, banking & finance sectors, education and training sectors etc. With technological advancement, the demand for skilled CMA professionals is rapidly increasing.
The various job profiles they can look into are -
- VP (Finance)
- Finance Manager
- Internal Auditor
- Budget Analyst
- Financial Analyst
- Corporate or division planner
- Senior Accountant
- Cost Accountant
- Staff Accountant.
What is the average salary a CMA India fresher can expect?
The average starting salary can be from 8 lakhs for a fresher (depending on the company and merit of the student), the pay scale will increase depending on the experience that you possess. IF you have good work experience, then you can expect a pay package of 19 Lakhs per annum. It is one of the few domains where you will get job satisfaction along with a good pay package.
What is the course fee for CMA India?
The coaching fee for the CMA India at Lakshya is 25,000 + GST. The coaching fee for CMA Intermediate is 35,000 + GST.
You can always get in touch Lakshya to get more information about the course or to register for the course.