CMA Course Details – A Comprehensive Guide
The Certified Management Accountant (CMA) qualification is a prestigious certification offered by the Institute of Cost Accountants of India (ICMAI), formerly known as the Institute of Cost and Works Accountants of India (ICWAI). It is a professional certification in management accounting and financial management. Here’s a full details for the CMA course:
1. Foundation Course:
- Eligibility: 10+2 or its equivalent from a recognized board.
- Duration: Minimum 6 months.
- Subjects: Fundamentals of Economics and Management, Fundamentals of Accounting, Fundamentals of Laws and Ethics, Fundamentals of Business Mathematics and Statistics.
2. Intermediate Course:
- Eligibility: Completion of the Foundation Course or graduation in any discipline.
- Duration: 12 months.
- Subjects: Financial Accounting, Laws and Ethics, Direct Taxation, Cost Accounting, Operations Management and Information Systems, Cost & Management Accounting, Indirect Taxation, Company Accounts & Audit.
3. Practical Training:
- Duration: 3 years of practical training under a practicing CMA.
- Skills Developed: Practical exposure to accounting, auditing, taxation, and other areas of finance.
4. Final Course:
- Eligibility: Completion of the Intermediate Course and the Practical Training.
- Duration: At least 6 months.
- Subjects: Strategic Performance Management, Corporate Financial Reporting, Strategic Financial Management, Indirect Tax Laws and Practice, Cost and Management Audit, Corporate Laws and Compliance, Strategic Cost Management – Decision Making.
5. Examination:
- Format: Three stages – Foundation, Intermediate, and Final, with examinations held twice a year in June and December.
- Passing Criteria: Minimum 40% in each paper and 50% in aggregate for all papers.
6. Membership of ICMAI:
- After passing the Final Examination and completing the Practical Training, a candidate can enroll as a member of ICMAI and become a Cost and Management Accountant.
Conclusion: CMA Course Full Details
The CMA course equips individuals with the knowledge and skills required for strategic financial management and decision-making. It offers a rewarding career in various sectors, including manufacturing, services, banking, and consulting.
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