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CMA Guide | Guide to Courses Offered by the Institute of Cost Accountants of India (ICMAI)

Updated: 1 day ago


The Institute of Cost Accountants of India (ICAI) offers a wide range of courses catering to students and professionals in the field of cost and management accounting. These courses are designed to equip individuals with the necessary skills, knowledge, and certifications to excel in the industry and academia.


Courses Offered by ICAI

1. For Students

  1. CMA Basic Course:

    • Structure: This course is divided into three stages:

      1. Foundation

      2. Intermediate

      3. Final

    • It provides a comprehensive pathway for individuals to become certified Cost and Management Accountants.

  2. Certificate in Accounting Technicians (CAT):

    • Designed for working professionals seeking foundational knowledge in accounting, costing, and taxation.

  3. GST Certificate Course:

    • Aimed at individuals working in the industry who want to deepen their understanding of GST.


2. For CMA Professionals and Students

  1. Diploma in Forensic Audit

  2. Diploma in Information System Security Audit

  3. Certificate Course in Data Analytics for Finance Professionals

  4. Advanced Certificate Course in Internal Audit

  5. Executive Diploma in Cost and Management Accounting for Engineers

  6. Diploma in Financial Modelling & Valuations


Detailed Insights Into CMA Courses


CMA Foundation

  1. Duration: 6 months

  2. Eligibility: Open to candidates who have cleared their 10th or 12th standard.

  3. Subjects Covered:

    • Law & Communication

    • Account and Costing

    • Mathematics and Statistics

    • Economics and Management

  4. Examinations: Conducted twice a year (June and December).

  5. Passing Criteria: Minimum 40 marks in each subject with an average of 50% overall.

  6. Exam Format: Fully objective with multiple-choice questions answered on an OMR sheet.

  7. Fees:

    • Registration Fee: ₹6000

    • Examination Fee: ₹1500

    • Private Coaching: Approx. ₹20,000–₹22,000


CMA Intermediate

  1. Duration: 12 months (examinations every 6 months in June and December).

  2. Eligibility:

    • Completion of CMA Foundation or CS EET/CA Intermediate or a degree in any field (excluding arts and music).

  3. Subjects Covered:

    • Group 1: Law & Ethics, Financial Accounts, Taxation, and Costing.

    • Group 2: Operations Management, Corporate Accounts, Financial Management, and Management Accounting.

  4. Examinations: 30% objective and 70% descriptive questions.

  5. Passing Criteria: Minimum 40 marks in each subject and an overall average of 50%.

  6. Skill Training:

    • Technical (SAP, Microsoft Office, e-filing) – 120 hours.

    • Soft Skills (in collaboration with Cambridge University) – 20 hours.

  7. Fees:

    • Registration Fee: ₹23,100 (can be paid in two installments).

    • Examination Fee: ₹1500 per group.

    • Private Coaching: Approx. ₹22,000–₹25,000 per group.


CMA Final

  1. Duration: 18 months (includes 15 months of articleship).

  2. Eligibility: Completion of CMA Intermediate.

  3. Subjects Covered:

    • Group 3: Corporate Laws, Strategic Financial Management, Direct Tax Laws, and Strategic Cost Management.

    • Group 4: Cost and Management Audit, Corporate Financial Reporting, Indirect Tax Laws, and electives.

  4. Examinations:

    • 30% objective and 70% descriptive.

    • Results average 15-25% for individual groups and 10-17% for both groups.

  5. Articleship: Students can commence articleship during CMA Intermediate.

    • Stipend: ₹2000 (1st year), ₹3000 (2nd year), and ₹4000 (3rd year).

  6. Fees:

    • Registration Fee: ₹25,000 (can be paid in two installments).

    • Examination Fee: ₹1700 per group.

    • Private Coaching: Approx. ₹25,000–₹27,000 per group.

  7. Placement: ICAI’s regional offices organize campus interviews, with packages ranging from ₹12,00,000 to ₹28,00,000 per annum.

Value Addition of CMA Certification

  • Professional Recognition: CMA professionals are highly regarded for their expertise in cost optimization and strategic management.

  • Industry Demand: With initiatives like “Make in India,” CMAs play a critical role in enabling Indian industries to compete globally.

  • Career Opportunities: CMAs have diverse roles in consulting, auditing, and corporate leadership, with a strong demand across sectors.


Conclusion

The courses offered by the Institute of Cost Accountants of India are designed to create competent professionals ready to tackle the challenges of modern industries. Whether you’re a student starting your career journey or a professional looking to enhance your skills, ICAI’s programs provide unparalleled opportunities for growth and success.

 
 
 

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