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CMA – Cost and Management Accountancy

ICAI is the ultimate name in the field of Cost Accountancy. It is the essential professional programme for anyone who dreams of building a rewarding career in Cost Accountancy. ICAI is the statutory professional accountancy body in India. It is also the only licensing and regulatory body of Cost and Management Accountancy profession in the country. Cost and Management Accountancy (CMA) plays an indispensable role in the modern business world. A CMA helps multi-product ventures to gauge the exact cost of every product and service at different stages to minimize the expenditure and ensure maximum utilization of resources. A CMA has to advise various departments on the profitable product mix, taking make-or-buy decisions, and identifying business risks and their mitigation. He/She plays crucial role in decision-making, planning and controlling operations in an organization.

Foundation Course

Eligibility for Admission:

Class 10th Passed are eligible for the admission in foundation course.
(Note: Incumbents waiting for the result can apply for provisional admission)

Subjects

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)

Intermediate Course

Eligibility for Admission:

Passed Senior Secondary School Examination (+2) and Foundation Course of the Institute of Cost Accountants of India/Graduation in any discipline other than fine arts / CAT Entry Level-1 of ICAI.

GROUP – I

PAPER 5: BUSINESS LAWS AND ETHICS (BLE)
PAPER 6: FINANCIAL ACCOUNTING (FA)
PAPER 7: DIRECT AND INDIRECT TAXATION (DITX)
PAPER 8: COST ACCOUNTING (CA)

GROUP – II

PAPER 9: OPERATIONS MANAGEMENT AND STRATEGIC MANAGEMENT (OMSM)
PAPER 10: CORPORATE ACCOUNTING AND AUDITING (CAA)
PAPER 11: FINANCIAL MANAGEMENT AND BUSINESS DATA ANALYTICS (FMDA)
PAPER 12: MANAGEMENT ACCOUNTING (MA)

Final Course

Eligibility for Admission:

Passed the Intermediate Course of ICAI and Completed 15 months.

Note: Students will be required to select any one of three Elective Papers (20A/20B/20C) at the time of enrolment for the Final Course

GROUP – II

PAPER 13: CORPORATE AND ECONOMIC LAWS (CEL)
PAPER 14: STRATEGIC FINANCIAL MANAGEMENT(SFM)
PAPER 15: DIRECT TAX LAWS AND INTERNATIONAL TAXATION (DIT)
PAPER 16: STRATEGIC COST MANAGEMENT (SCM)

GROUP – IV

PAPER 17: COST AND MANAGEMENT AUDIT (CMAD)
PAPER 18: CORPORATE FINANCIAL REPORTING (CFR)
PAPER 19: INDIRECT TAX LAWS AND PRACTICE (ITLP)

ELECTIVES

PAPER 20A: STRATEGIC PERFORMANCE MANAGEMENT AND BUSINESS VALUATION (SPMBV)
PAPER 20B: RISK MANAGEMENT IN BANKING AND INSURANCE (RMBI)
PAPER 20C: ENTREPRENEURSHIP AND STARTUP (ENTS)

CMA FAQ

1. What is CMA India?

CMA stands for Cost and Management Accountant. It is a professional certification offered by the Institute of Cost Accountants of India (ICMAI). CMAs specialize in cost accounting, financial management, planning, and performance analysis.