CMA Foundation 2024: Eligibility, Admission, Exam Pattern, Fees
The CMA (Cost Management Accountant) certification program includes multiple stages, with the CMA Foundation 2024 being the initial step. Conducted by The Institute of Cost Management Accountants of India, this exam is held twice a year, typically in July and December, and is conducted offline. To be eligible, candidates must have passed the 12th-grade examination.
The CMA Foundation exam consists of four subjects: Business Laws and Business Communications, Cost and Financial Accounting, Business Mathematics and Statistics, and Business Economics and Management. To pass, candidates must score a minimum of 40% in each subject and an aggregate of 50% or above. The registration fee for the CMA Foundation exam is INR 6000.
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CMA Foundation Course Highlights
Here are the detailed highlights of the CMA (Certified Management Accounting) course:
| Aspect | Details |
|---|---|
| Degree | Certificate course |
| Full Form | Certified Management Accounting |
| Duration | 3-4 years |
| Minimum Eligibility | Bachelor’s degree with 2 years of experience |
| Average Fees | INR 1,00,000 |
| Average Salary | INR 7,00,000 |
| Employment Roles | Finance Manager, Budget Analyst, Internal Auditor, Financial Analyst, Cost Accountant, etc. |
| Top Recruiters | AT&T, Alcoa, Cargill, Boeing, Bank of America, etc. |
CMA Foundation Admission Process
To enroll in the CMA Foundation program, candidates need to follow a set of steps. Here’s a brief overview of the admission process:
- Eligibility: Candidates can start the CMA Foundation course after completing class 10th or any equivalent degree. They can also begin after the class 12th board exam.
- Enrollment: Candidates need to enroll in the program by providing the required documents, including a class 10th certificate, photographs, class 12th certificate, etc.
- Examination: To clear the foundation course, candidates need to pass the examination and proceed to the next level of the CMA program.
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CMA Foundation Eligibility Criteria
Before applying for the ICMAI CMA Foundation exam, candidates must ensure they meet the eligibility criteria. Here are the important eligibility criteria for the CMA Foundation program:
- Citizenship: Candidates must be citizens of India. Candidates from other nationalities are not eligible.
- Age Limit: There is no minimum age limit for the CMA Foundation program.
- Educational Qualifications:
- Candidates must have completed class 10th.
- Candidates must have completed class 12th with a minimum aggregate of 50% or above from a recognized board.
- Candidates who have completed education from any state board of technical education under the authority of the All India Council, or Diploma in Rural Service Examination conducted by the National Council of Higher Education are also eligible.
- Provisional Admission: Candidates waiting for their results can also apply for provisional admission.
CMA Foundation: Documents Required
When applying for the CMA Foundation exam, candidates need to submit certain documents along with the application form. Here are the documents required:
- Attested Copy of Matriculation Certificate: Candidates need to attest and submit a copy of the matriculation certificate (class 10th).
- Attested Copy of 10+2 Certificate or Marks Statement: Candidates need to attest and submit a copy of the 10+2 certificate or marks statement.
- Passport Size Photos: Candidates are required to provide three passport size photos. They should paste one photo on the application form, one on the identity card, and attach one with the application.
CMA Foundation: Application Deadlines
Admission to the CMA Foundation course is open throughout the year, allowing students to choose when they want to appear for the exams. Here are the application deadlines for the June and December cycles:
| Particulars | December Cycle | June Cycle |
|---|---|---|
| Application Period | OPEN | CLOSE |
| Exam Date | To be Announced | 16 June 2024 |
| Result Declaration | To be Announced | To be Announced |
Where to Apply for CMA Foundation?
Students are required to submit their application forms, duly filled, along with all relevant documents to the respective regional councils. Below is a table showing the addresses of the regional councils and the areas covered by each:
| Regional Council | Address | Areas Covered |
|---|---|---|
| Western India Regional Council | “Rohit Chambers”, 4th Floor Janmabhoomi Marg, Fort Mumbai – 400 001 | The State of Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Goa and the Union Territories: Daman Diu., Dadra, and Nagar Haveli. |
| Southern India Regional Council | 4, Montieth Lane, Egmore, Chennai – 600 008 | The State of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Pondicherry and the Union Territory: the Lakshadweep |
| Eastern India Regional Council | 84, Harish Mukherjee Road, Kolkata – 700 025 | The States of Assam, Arunachal Pradesh, Bihar, Jharkhand, Manipur, Maghalaya, Mizoram, Nagaland, Orissa, Tripura, West Bengal, Sikkim, the Union Territories: The Andaman and Nicobar Islands and Foreign Countries. |
| Northern India Regional Council | 3, Institutional Area, Lodi Road, New Delhi – 110 003 | The States of Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttaranchal and the Union Territory: Chandigarh. |
CMA Foundation: Registration Fees
The Institute of Cost Accountants of India (ICMAI) has released the application for the CMA foundation program. The CMA Foundation fee is INR 6000 which can be paid online and in postal mode.
Fees Structure:
| Particulars | Amount | Remarks |
|---|---|---|
| Foundation | INR 6000/- | Payable on or before 31st January for June term and 31st July for December term for examination |
| Cost of Prospectus | INR 250/- | – |
CMA Course Syllabus and Subjects
The CMA (Cost Management Accountant) course is divided into three levels, each with its own set of subjects. Candidates must pass all papers at each level to obtain the CMA designation. Here is an overview of the entire CMA course structure:
- CMA Foundation:
- Candidates must pass four papers to clear this level.
- The four subjects are typically taken in one term exam.
- CMA Intermediate:
- This level has two groups, each with four papers.
- Group 1 and Group 2 papers can be taken in one term exam each.
- Candidates can also choose to appear for both groups in one term in some cases.
- CMA Final:
- Similar to the Intermediate level, the Final course also has two groups.
- Group 3 and Group 4 each have four papers.
- For the last paper of Group IV, candidates can choose among three elective subjects.
| Paper Number | Subject Name |
|---|---|
| Paper 1 | Fundamentals Of Business Laws and Business Communication (FBLC) |
| Paper 2 | Fundamentals of Financial and Cost Accounting (FFCA) |
| Paper 3 | Fundamentals of Business Mathematics and Statistics (FBMS) |
| Paper 4 | Fundamentals of Business Economics and Management (FBEM) |
CMA Exam Pattern
| Exam Pattern Features | CMA Foundation Exam Pattern | CMA Inter Exam Pattern | CMA Final Exam Pattern |
|---|---|---|---|
| Mode of exam | Offline Centre-Based Test | Offline Centre-Based Test | Offline Centre-Based Test |
| Type of questions | Objective | Subjective | Subjective |
| Total marks | 100 (each paper) | 100 (each subject) | 100 (each subject) |
| CMA exam duration | 120 minutes | 180 minutes | 180 minutes |
| Number of groups | – | 2 | 2 |
| Number of subjects | 4 | 4 (in each group) | 4 (in each group) |
CMA Exam Fees
| CMA Course | CMA Exam Fee for Inland Centre Preference (in INDIA) | CMA Exam Fee for Overseas Centre Preference (in USD) |
|---|---|---|
| Foundation | 1200 | 60 |
| Intermediate | ||
| 1200 (for one group) | 90 | |
| 2400 (for two groups) | ||
| Final | ||
| 1400 (for one group) | 100 | |
| 2800 (for two groups) |
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