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Home > News & Articles > CMA Course: Full Form, Course Details, Duration, Fees, Eligibility, Salary 2024
Updated on 08th February, 2024 , 7 min read
The full form of CMA is Certified Management Accountant. It is a professional specialization in financial management and accounting for businesses. The primary focus of the CMA education process is corporate decision-making. The CMA teaches financial accounting and strategic company management. Obtaining the CMA certification is a wonderful career move, especially if one wants to work in management accounting.
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Check out the CMA course details in the table below.
Course Level | Certificate Course |
Full Form | Certified Management Accountant |
Course Duration | 3-4 years |
Eligibility | Bachelor's Degree along with 2 years of Experience |
Colleges in India | |
Course Fees | INR 1,00,000 |
Salary | INR 7 lakhs |
Top Job Profiles | Finance Manager, Budget Analyst, Internal Auditor, Financial Analyst, Cost Accountant, Senior Accountant, etc. |
Top Recruiting Companies | AT&T, Alcoa, Cargill, Boeing, Bank of America, etc. |
Related Article: Best Courses After BCom
The full form of CMA is Certified Management Accountant. The Institute of Management Accountants, or IMA, provides this certificate course. This course helps one specialize in management and executive-level duties.
Further Reading: ACCA
CMA, or Cost and Management Accounting, is a certificate course that awards the CMA title to those who complete it. The certification opens the door to a successful career in company accounting. The CMA course is built on four knowledge pillars: management, regulatory framework, strategy, and financial reporting. A candidate is designated as a CMA after passing the CMA test at one of the three levels listed below:
There are several reasons why you should take the Certificate Management Accountant course. Check them out in the list below.
The eligibility criteria to apply for the CMA exam at all three levels vary. The space below mentions the CMA course eligibility criteria for all three levels.
Further Reading: Upcoming Government Exams 2024
The exam dates for the various levels, foundation, intermediate, and final are given below:
Date | Shift 1 (10 am to 12 noon) | Shift 2 (2 pm to 4 pm) |
16th June 2024 | Paper 1: Fundamentals of Business Laws and Business Communication Paper 2: Fundamentals of Financial and Cost Accounting | Paper 3: Fundamentals of Business Mathematics and Statistics |
Date | Shift 1 (10 am to 12 noon) | Shift 2 (2 pm to 4 pm) |
11th June 2024 | Corporate and Economic Laws (P-13) | Business Laws and Ethics (P-05) |
12th June 2024 | Cost and Management Audit (P-17) | Operations Management and Strategic Management (P-09) |
13th June 2024 | Strategic Financial Management (P-14) | Financial Accounting (P-06) |
14th June 2024 | Corporate Financial Reporting (P-18) | Corporate Accounting and Auditing (P-10) |
15th June 2024 | Direct Tax Laws and International Taxation (P-15) | Direct and Indirect Taxation (P-07) |
16th June 2024 | Indirect Tax Laws and Practice (P-19) | Financial Management and Business Data Analytics (P-11) |
17th June 2024 | Strategic Cost Management (P-16) | Cost Accounting (P-08) |
18th June 2024 | Electives (Any one of three Papers): | Management Accounting (P-12) |
Given below are the documents required for admission into the various levels of CMA:
CMA Course Level | Documents required |
Foundation | Attested Copy of Matriculation Certificate. Attested copy of 10+2 Certificate or Marks Statement. 3 Passport-size photographs: One pasted on the application form, one pasted on the identity card and one to be attached to the application. |
Intermediate/Final | Attested Copy of Matriculation Certificate. Attested copy of 10+2 Certificate or Marks Statement. Attested copy of the degree. 3 Passport-size photographs: One pasted on the application form, one pasted on the identity card and one to be attached to the application. |
The application fees for the various levels have been mentioned below:
Examination | CMA Fees |
CMA Foundation course | INR 6,000 |
CMA Intermediate course | INR 23,100 |
CMA Final course | INR 25,000 |
The course fees have been mentioned below:
Category | CMA Course Fees (Rs.) |
CMA Final Level Students with Graduation | Rs.4,500/- + 18% GST |
Qualified CMAs | Rs.5,400/- + 18% GST |
Other Professionals / Post Graduates | Rs.6,000/- + 18 % GST |
Note: A substantial discount on the course fees is available for bulk corporate enrollment.
The table below highlights the differences between CMA and CA in detail:
CMA (Certified Management Accountant) | |
The CA is equipped with thorough knowledge of taxation, accounting, and auditing. | The CMA collects, assimilates, and analyzes the financial information of an organization. |
It can be attended only after passing the Class XII board and completed after graduation from any university. | The foundation course can be completed after X board, but the intermediate and final examinations require completion of Class XII. The foundation courses of CMA, CAT, ICSI, or graduation in any discipline other than fine arts. |
Membership in ICAI requires you to complete the final examination and provide the required work experience along with it. It is very hard to acquire, as the exam is tougher than ICWA. | There is no prescribed requirement for membership. It is comparatively easier to acquire than CA. |
The CA has a broader horizon in terms of job profile and gets paid more than the ICWA initially. | The job profile is limited to cost and financial management for the Cost and Works Accountant and gets paid a little less than CA. |
The certification of CA doesn't allow higher study in management institutes. | The degree of ICWA allows students to acquire higher education at foreign institutes. |
Also Read: CA Salary in India
Here are the differences between CMA in the USA and India:
Details | CMA USA | CMA India |
Competent Body | Institute of Management Accountants | Institute of Cost Accountants of India |
Duration | 1 Year | 3 Years |
Prerequisites | Graduate + Work Experience | 10+2 Pass |
Exam Structure | 2 Parts (1 Level) | 3 Levels – 20 Papers |
Articles | – | 6 Months |
Read more: Difference between CA, CFA, and FCA
To get the CMA certification, you must have:
Check Also: How to Become a Company Secretary?
Given below is the exam pattern for the intermediate, final, and foundation courses for the year 2024:
Given below is the CMA syllabus for the year 2024:
CMA Intermediate Course Group – I
CMA Intermediate Course Group – II
Final Course Group – III
Final Course Group – IV
Check out: ACCA Subjects
The following are the responsibilities of a Certified Management Accountant:
Students can explore and take on multiple roles in a company post-course completion. These include:
As of now, IT, ITeS, and telecommunications happen to be the industries that offer the most in terms of remuneration. The average salary offered to freshmen starts at INR 22,000–25,000 per month. With experience and exposure, this, of course, would rise.
The table below mentions the average salaries of top job positions in organizations offered to candidates holding a CMA designation.
Job Title | Average Salary (In INR) |
Cost Controller | 6.94 LPA |
Finance Manager | 10.86 LPA |
Chief Financial Officer (CFO) | 36.98 LPA |
Senior Financial Analyst | 8.17 LPA |
Accountant | 2.92 LPA |
Certified Management Accountant | 5 LPA |
Cost Accountant | 7.05 LPA |
Financial Controller | 24.35 LPA |
Internal Auditor | 5.85 LPA |
Finance Analyst | 5.40 LPA |
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By - Nikita Parmar 2023-08-25 09:48:44 , 11 min readCMA full form is Certified Management Accountant.
CMA course duration in India is 3 years.
track the financial statements, play the role of a supervisor, predict the future risks that may affect the productivity of a company etc.
It takes 3 years to complete CMA in India.
Average salary for a CMA in India is 7 Lakhs per year (₹58.3k per month).
In short, CMA is a specialised course with significant potential in India and globally. The value of a CMA has grown significantly in recent years. This is because of India's economic expansion, the entry of significant foreign corporations into its market, and the Make in India campaign.
If a candidate is interested in auditing, taxation, reporting, and regulation, he or she should pursue CPA, whereas CMA is a better alternative for someone interested in management, strategic analysis, and decision making.
The CMA course is increasing in popularity among business students, particularly those who want to pursue a career in Cost and Management Accounting.
Which one pays the most? A Chartered Accountant earns an average of 8,06,154 INR per year in India, whereas a Certified Management Accountant earns an average of 5,50,000 INR per year. As a result, we can conclude that a CA makes more than a CMA.
The CMA exam is extremely demanding and will put your wits to the test. The industry average CMA pass rate for both sections is only 45%, which means that only around half of those who take the test will pass. The CMA exam is recognised for its rigour and difficulty, and you must prepare if you want to pass.
The CMA is a professionally recognised qualification, whereas the MBA is an academic degree. Though both are highly sought after career goals in the accounting sector, the CMA focuses on management accounting while the MBA in Financial covers a far larger range of finance units.
Candidates to pass CMA Final examination 2024 should score a minimum of 40% marks in each subject and an overall aggregate of at least 50% marks.
The CMA Exam covers subjects like accounting, laws, ethics, finance, cost and financial management, taxation, company accounts, and audit, etc. Apart from this, there are other subjects in the CMA Syllabus which you can check above.
There are total of 20 papers in the CMA Exam distributed in the CMA Foundation, CMA Inter, and CMA Final.
In order to qualify for CMA exams, a candidate is required to obtain a minimum of 40% marks in each subject and an aggregate of 50% or more.