Cost Management Accounting (CMA) (India) – Kalyan Educational Institute

COST MANAGEMENT ACCOUNTING (CMA - India )

These days, CMA course is gaining popularity among commerce students, who want to pursue a career in the area of Cost and Management accounting. Cost management in accounting is a form of management accounting that is designed to help business owners predict how much business expenses. The purpose of this form of accounting is to avoid going over budget so that businesses can hold onto as much of their revenues as possible. If you would like to work in management accounting and you are trying to learn more about cost management and planning budgets, read on and find out what you need to know about cost management plans within the over-all business model.
3 STAGES IN ICWAI
1. CMA FOUNDATION
2. CMA INTERMEDIATE
3. CMA FINAL.

Eligibilty For CMA Students

If you want to become a Cost management accountant, you should complete these three stages of the CMA course.
1. Students who have passed 10+2 are eligible for the CMA Foundation exam. The Institute of Cost Accountants of India conducts CMA Foundation exam two times in a year in the months of June and December.
2. If you have passed the CMA Foundation exam, then you are eligible for CMA Inter.
3. If you have any graduate degree, you are exempted from ICMAI Foundation exams. You can directly enter into CMA Inter.

Modules For Certified Management Accountant Course

❖ CMA FOUNDATION

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 & Statistic

❖ CMA INTERMEDIATE

Paper 5: Financial Accounting
Paper 6: Laws and Ethics
Paper 7: Direct Taxation
Paper 8: Cost Accounting
Paper 9: Operation Management & Strategic Management
Paper 10: Cost and Management Accounting and Financial Management
Paper 11: Indirect Taxation
Paper 12: Company Accounts & Audit

❖ CMA FINAL

Paper 13: Corporate Laws and Compliance
Paper 14: Strategic Financial Management (SFM)
Paper 15: Strategic Cost Management – Decision Making
Paper 16: Direct Tax Laws and International Taxation
Paper 17: Corporate Financial Reporting
Paper 18: Indirect Tax Laws and Practice
Paper 19: Cost and Management Audit
Paper 20: Strategic Performance Management & Business Valuation

PRACTICAL TRAINING W.E.F. 2020 ADMISSION AND ONWARDS

The 3 year training requirement is also broken down, reducing the gap between intermediate exams and final exams, encouraging students to move forward. As per new practical scheme-2020, a student is required to complete 10 months of training 4 months before final exam month and 15 months of training before final exam result declaration of both or balance groups. The balance 21 months is required to be completed so as to be eligible to obtain membership from the institute post qualification. The eligible organizations where a student can pursue training:
● Cost accountants firm
● Central government/State Government
● Financial institutions / Banks