Cost & Management Accountant (CMA)

 Cost & Management Accountant (CMA)

Certified Management Accountant is a professional certification credential in the management accounting and financial management fields.

What is CMA?

A Cost Accountant is a person who offers to perform or perform services involving the costing or pricing of goods and services or the preparation, verification or certification of cost accounting and related statements.

If one is interested in management accounting or financial accounting one should definitely apply for this exam.

CMA is globally organised professional course. CMA program mainly focus on valuation issues, working capital policy, and external financial reporting.

How to Get in CMA?

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The Institute of Cost Accountants of India releases the form for CMA Test. Candidates can apply for CMA from ICMAI website.

As it is a globally certifed course you can also apply for CMA from USA. 

Duration for the CMA :-

CMA INDIA:- Generlly 3 to 4 years.

CMA USA:- Generally 1 to 1.5 years.

Candidate has to apply before 4 months of exam for Registration. This exam is held 2 times in a year. 

a) June:- Regsiter before 31 Jan.

b) December:- Register before 31 July. 

Eligibility Criteria:-

There is No Age Limit to apply for this exam. But one should have passed 12 or completed graduation.

There are basically Three levels to apply for this exam:-

a) Foundation:- One should have passed 12.

b) Intermediate:- One should have qualify Foundation.

c) Final:- One should have qualified Intermediate.

Alternatively one should take note that:-

One can give Intermediate directly if they are Graduated.

One can give Intermediate directly if they have cleared CS Foundation.

One can give Intermediate directly if they have cleared CA Intermediate.

After clearing the foundation exam and intermediate exam you get qualified for final exam. After clearing Intermediate exam. The course covered for Final exam can take 6 Months or more to be covered. After that one gets a chance to select their Date of Exam from the Exam Details launched by ICMAI. 

How much is Registration Fee:-

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As this exam is divided in 3 Levels. The Fee structure is also divided in 3 Levels.

a) Foundation Fee:- 4,000 /-

b) Intermediate:- 20,000 /-

c) Final:- 17,000 /-

If the candidate is graduated they can directly giev Intermediate Exam with no Foundation Fee.

How Exam is Conducted?

This exam is held in both format Online format and Offline format. Each paper is of  100 Marks conducted in both English and Hindi languages. The weightage of Subjective is 40% and Objective is 60%. Each paper is of 3 Hours and there is No Negative Marking.

There are total 20 papers.

CMA Foundation:- 4 papers

CMA Intermediate:- There are 2 Groups 

Group 1 (4 Papers) Group 2 (4 papers)

CMA Final:- There are 2 Groups

Group 1 (4 Papers) Group 2 (4 Papers)

Career Options:-

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After you have cleared final exam there are many career options like:-

a) Chief  Financial Officer

b) Finance Officer.

c) Chief Investment Officer.

d) Cooperate Controller.

e) Financial Analyst.                      

f) Cost Accountant.

g) Financial Controller.                  

h) Cost Manager.

Salary Structure:-

A newly qualified CMA today does not earn less than Rs.6 to 8 lakhs per year. The salary of experienced actuaries is much more. After you got experienced in this field you can earn upto Rs 16 to 18 lakhs per year.

Study Hard and Prepare Yourself Stronger because This Two Things Always Pays Off.