CMA Course Details

In recent times, there has been a demand for professionals who understand the management and accounting field comprehensively. Though this knowledge can be garnered by pursuing Management courses, one can also explore other options like Chartered Accountancy, CFA course, CS, etc. One such option amongst many is the Certified Management Accountant course. As a CMA professional, you will be adept in concepts related to Taxation, Financial Risk Management (FRM), Operations Management, Accounting, Legal Frameworks, etc. To provide clarity, here is a blog that will shed light on CMA course details, its prospects, and eligibility.

What is the CMA Course?

CMA or Certified Management Accountant is a globally recognized, advanced-level credential that is appropriate for those who wish to establish a career in Finance and Business. Covering various facets of the field, the CMA course equips you with knowledge and skills related to financial planning, decision support, cost management, investment-related decisions, direct and indirect taxation, etc. that are instrumental for making a mark in the industry. The skill set provided by the course is in great demand in organisations globally which makes this course extremely relevant with the times. Let us now understand the three levels of the CMA course-

CMA Foundation Level

The very first level of the CMA course is the CMA Foundation. To get your career started as a Certified Management Accountant, candidates shall qualify for this initial level. As early as after qualifying class 12th exams, you can hear up for the CMA Foundation that can be further completed in 8 months. 

CMA Intermediate Level

The second step of the CMA course is the intermediate level. After qualifying CMA Foundation and completing graduation, students are eligible to appear at this level. The CMA course duration of this level is 18 months. 

CMA Final Level

The final and concluding level of the course is the CMA final.  Upon passing the intermediate level, students can gather all the CMA course details and appear for this level to become a recognised Accountant. 

General Overview

An important aspect of the CMA course details is how the course is structured as well as when can one appear for the exams to take this course. The course is broken down into 3 stages- the CMA Foundation, CMA Intermediate, and CMA Final. You can appear for the exams in 3 cycles in a year: January and February, May and June, and lastly, September and October. The exams can be scheduled 72 hours in advance but it is always better to schedule in advance preferably 4 weeks. 

CMA Course Details Related to Training

As discussed, there are 3 levels to becoming a certified CMA professional. However, apart from clearing papers, you also need to complete professional training at the Intermediate and Final levels.

CMA Intermediate Level Training

• Computer Training (100 Hours)
• Communication and Soft Skills Training (CSS) – 3 Days
• Practical Training (15 Months)

CMA Final Level Training

At the final level, you will have to undergo a mandatory, 7 days long, Industry Oriented Training Programme (IOTP). Extensive knowledge will be imparted on direct and Indirect taxation, bookkeeping, cost and treasury management, among others. Furthermore, emphasis will also be laid on Business Etiquette and soft Skills, along with interview and presentation skills.

CMA Course Details: Eligibility Criteria

The eligibility criteria for CMA is an integral aspect of the CMA course details, it helps one understand the prerequisites to undertake the course. The general eligibility criteria for the 3 levels are-

Foundation Level	Intermediate Level	Final Level
-Candidates must have qualified class 10 or its equivalent from reputed board -It is mandatory to qualify 10+2 examination from the board recognized by central government   Or Candidate shall possess per National Diploma in Commerce examination by the AICTE or State Board of Technical Education Or diploma in rural Service examination conducted by the National Council of Higher Education	-Candidates must have qualified 10+2 examination and foundation course provided by the ICAI along with a graduation degree in any discipline other than fine arts/Foundation entry-level part 1 examination of CAT of the institute Foundation entry-level part 1 examination and competency level part 2 examination of CAT of the institute-It is mandatory to pass the intermediate of ICAI for the foundation of ICS by whatever name called along with 10+2	The students who have qualified the intermediate examination level of of the ICAI are eligible to appear for the final course

Note: The aspirants must note that it is necessary to become a member of ICAI to register under any level of CMA course.

Also Read – CMA Syllabus

CMA Subjects 

Before pursuing any course, it is important to go through the syllabus thoroughly in order to identify your weak and strong points. This will help you in formulating a good study plan. Similarly, when it comes to CMA course details, there are a total of 20 papers that are bifurcated into 3 levels namely, Foundation, Intermediate, and Final. Tabulated below are the major subjects of the CMA course.

Levels	CMA Subjects
Foundation	Paper 1: Fundamentals of Accounting  Paper 2: Fundamentals of Business Mathematics & Statistic  Paper 3: Fundamentals of Laws and Ethics Paper 4: Fundamentals of Economics and Management
Intermediate	Paper 5: Company Accounts & Audit  Paper 6: Laws, Ethics and Governance Paper 7:  Financial Accounting  Paper 8: Cost and Management Accounting Paper 9: Cost accounting and financial management  Paper 10: Indirect Taxation Paper 11: Operation Management Information System Paper 12 Direct Taxation
Final	Paper 13: Advanced Financial Management Paper 14: Tax Management and Practice  Paper 15: Business Strategy & Strategic Cost Management Paper 16: Corporate Financial Reporting Paper 17: Strategic Performance Management Paper 18: Corporate Laws and Compliance  Paper 19: Financial Analysis & Business Valuation Paper 20: Cost and Management Audit

Also Read– Professional Courses after 12th Commerce Stream

CMA Course Details: Registration Process

Now that we are through with what is CMA course and its eligibility criteria, let us focus on how we can register for it. By visiting the official website of ICAI, candidates can successfully register themselves for the desired level of CMA course. You can follow the below-mentioned steps and successfully register yourself- 

Step 1: Visit the official website of ICAI and click on CMA 2023 registration.
Step 2: Fill in all the details mentioned in the registration form. Save and continue to reach the next step. 
Step 3: Upload the images as per the specifications mentioned and submit the form. 
Step 4: Choose your preferred type of payment and complete the registration process by submitting the fee. 
Step 5: Take a printout of your form for future use.

CMA Course Details: Registration Fee 

Since the course comprises three distinct levels, the registration fee per level varies in India as well as other foreign countries offering the course. To help you with the accurate CMA course details, mentioned below are the estimated fee charges- 

Particulars	Registration Fee
CMA Foundation	INR 4,000
CMA Intermediate	INR 20, 000
CMA Final	INR 17,000

CMA USA vs CMA India

Now that you have understood the basic CMA course details, let us take a glance at the major differences between the CMA course in the USA and that in India.

Details	CMA USA	CMA India
Competent Authority	Institute of Management Accountants	Institute of Cost Accountants of India
Exam Pattern	2 papers in one single level	20 papers bifurcated into 3 levels
Duration of Course	6 Months	3-4 Years
Articleship	–	6 Months

Also read- ICWA (CMA) Course 2023-24

Top Recruiters of CMA Graduates 

As soon as the CMA aspirants complete all the levels of the course along with the training period, they can make their way through a bunch of leading organisations across the globe. Before we conclude a discussion on CMA course details, listed below are some of the major recruiting companies for CMA graduates- 

• Ernst and young
• Deloitte
• PWC 
• KPMG
• National Handicapped Finance and Development Corporation 
• Hindustan Salt Limited 
• Godfrey Phillips India Limited 
• BDO International
• Grand Thornton International 
• Desai Haribhakti

CMA Course Details: Jobs and Salary

If we assess the available opportunities after CMA, one can find innumerable employment opportunities both in India and abroad. The knowledge garnered by studying a diverse curriculum adds to your portfolio because it lets the employer know about your expertise in the field of accounting and management as well as reveals your knowledge when it comes to the financial aspect of the industry. Some of the job profiles that you can explore after your CMA course are:

Designation	USA salary per annum
Financial Analyst	$74,146/INR 60.64 lakh
Relationship Manager	$60,626/INR 49.58 lakh
Finance Manager	$103,430/INR 84.59 lakh
Cost Manager	$101,436/INR 82.98 lakh
Cost Accountant	$75,792/INR 62  lakh
Financial Risk Manager	$113,867/INR 93.14  lakh
Chief Financial Officer	$143,514/INR 1.17 cr
Financial Controller	$98,464/INR 80.54 lakh

FAQs

Conclusion

We have provided you with all the relevant information about the CMA course details. But when it comes to making a decision about one’s career it is natural to feel confused as well as apprehensive about whether you possess the skills for that career path. You do not need to be doubtful before exploring a career path, with the help of the study abroad experts at Leverage Edu you can make an informed decision that takes into account your strengths and skills.