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Cost and Management Accountant (CMA)

Cost and Management Accountant (CMA)

Course Overview:

The Cost and Management Accounting (CMA) course is a professional certification offered by the Institute of Cost Accountants of India (ICAI). It equips candidates with knowledge in costing, management accounting, and financial management, making them competent to manage financial affairs within a business. CMAs are responsible for cost auditing, budget management, and ensuring optimal use of resources.

Duration:

The CMA course duration can vary based on individual progress. Typically, students complete it within 3 to 4 years, depending on whether they begin after 12th grade or after graduation.

Syllabus (Semester-Wise / Level-Wise Structure):

The CMA course is divided into three levels:

1. CMA Foundation (Equivalent to Semester 1 & 2):

  • 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 and Statistics

2. CMA Intermediate (Equivalent to Semester 3 - 6):

Group 1:

  • Paper 1: Financial Accounting

  • Paper 2: Laws and Ethics

  • Paper 3: Direct Taxation

  • Paper 4: Cost Accounting

Group 2:

  • Paper 5: Operations Management & Strategic Management

  • Paper 6: Cost & Management Accounting and Financial Management

  • Paper 7: Indirect Taxation

  • Paper 8: Company Accounts and Audit

3. CMA Final (Equivalent to Semester 7 - 8):

Group 1:

  • Paper 1: Corporate Laws and Compliance

  • Paper 2: Strategic Financial Management

  • Paper 3: Strategic Cost Management – Decision Making

  • Paper 4: Direct Tax Laws and International Taxation

Group 2:

  • Paper 5: Corporate Financial Reporting

  • Paper 6: Indirect Tax Laws & Practice

  • Paper 7: Cost and Management Audit

  • Paper 8: Strategic Performance Management and Business Valuation

Average Fees:

The CMA course is known for its affordability. Below is the approximate fee structure:

  • CMA Foundation Fees: ₹6,000

  • CMA Intermediate Fees: ₹23,000 (for both groups)

  • CMA Final Fees: ₹25,000 (for both groups)

  • Total (Approximate): ₹50,000 - ₹60,000

Exams to Attend:

  1. CMA Foundation Exam: The first level for students entering after 12th grade. Graduates can skip this step.

  2. CMA Intermediate Exam: Divided into two groups, this level is the next step after the Foundation (or directly for graduates).

  3. CMA Final Exam: After passing the Intermediate stage, candidates appear for the Final Exam, which is also split into two groups.

Ten Most Ranking Institutions Combined Ranking in India:

  1. Institute of Cost Accountants of India (ICAI) - Kolkata

  2. ICAI Chapter - Mumbai

  3. ICAI Chapter - Delhi

  4. ICAI Chapter - Chennai

  5. ICAI Chapter - Bangalore

  6. ICAI Chapter - Hyderabad

  7. ICAI Chapter - Pune

  8. ICAI Chapter - Ahmedabad

  9. ICAI Chapter - Jaipur

  10. ICAI Chapter - Lucknow

Top 10 Institutions in Kerala:

  1. ICAI Chapter - Kochi

  2. ICAI Chapter - Thiruvananthapuram

  3. ICAI Chapter - Kozhikode

  4. Logic School of Management - Kochi

  5. Vidyarupa School of Management Studies - Calicut

  6. Prime Academy - Thiruvananthapuram

  7. Mastermind Academy - Kottayam

  8. Lakshya CA Campus - Ernakulam

  9. Logic Academy - Thrissur

  10. Hi-Point Learning Solutions - Trivandrum

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