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Mayank Mishra

Updated on 08th February, 2024 , 7 min read

CMA Course: Full Form, Course Details, Duration, Fees, Eligibility, Salary 2024


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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CMA: Course Details

Check out the CMA course details in the table below.

Course Level

Certificate Course

Full Form

Certified Management Accountant

Course Duration

3-4 years


Bachelor's Degree along with 2 years of Experience

Colleges in India

GCEC Jaipur, EBS Navi Mumbai, Jettwings Group of Institutes

Course Fees

INR 1,00,000


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

What is the full form of CMA? 

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 

What is CMA?

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:

  • Level 1: Fundamentals
  • Level 2: Intermediate
  • Level 3: Completion

Why pursue CMA?

There are several reasons why you should take the Certificate Management Accountant course. Check them out in the list below.

  • Good Salary: Candidates with a CMA degree receive a good salary. According to PayScale, the average annual income in India is around INR 7.90 lakh.
  • Explore Different Fields: CMA candidates get in-depth expertise in management, finance, and accounting.
  • Scope: Numerous jobs are available after completing the CMA Certification Management Accounting course.

CMA Course: Objectives

  • Navigating through Excel efficiently and effectively
  • Representing and formatting data
  • Plotting various charts
  • Performing sensitivity analysis
  • Using various analytical tools in Excel
  • Using formulas and functions
  • Organizing and analyzing large volumes of data
  • Creating MIS report
  • Case Studies

CMA: Eligibility

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.

CMA Foundation: Eligibility

  • Have passed Class 10 or equivalent, followed by Class 12 or equivalent.
  • If they have received the National Diploma in Commerce Examination (AICTE or from any recognized board). 

CMA Intermediate: Eligibility

  • Passed SSC or equivalent.
  • Foundation or entry level of the Common Admission Test (CAT) by the Institute of Cost Accountants of India (ICAI).
  • Graduation in any stream (except fine arts).
  • Even students who are awaiting results would pass the CMA course.

Further Reading: Upcoming Government Exams 2024 

CMA Final: Eligibility 

  • Students who are done with their intermediate level at school.
  • Graduation in any stream (except fine arts).
  • Have passed all eight papers in the intermediate course.

CMA: Exam Dates 

The exam dates for the various levels, foundation, intermediate, and final are given below: 

CMA: Foundation Dates 


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   
Paper 4: Fundamentals of Business Economics and Management

CMA: Intermediate/Final Dates 


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):   
(i) Strategic Performance Management and Business Valuation (P-20A)   
(ii) Risk Management in Banking and Insurance (P-20B)   
(iii) Entrepreneurship and Start-up (P-20C)

Management Accounting (P-12)

CMA: Documents

Given below are the documents required for admission into the various levels of CMA:

CMA Course Level

Documents required


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.


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.

CMA: Application Form Fees

The application fees for the various levels have been mentioned below: 


CMA  Fees

CMA Foundation course 

INR 6,000

CMA Intermediate course

INR 23,100

CMA Final course

INR 25,000

CMA: Course Fees

The course fees have been mentioned below: 


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.

Differences between CMA and CA

The table below highlights the differences between CMA and CA in detail: 

CA (Chartered Accountant)

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

Differences between CMA USA vs CMA India

Here are the differences between CMA in the USA and India:



CMA India

Competent Body

Institute of Management Accountants

Institute of Cost Accountants of India


1 Year

3 Years


Graduate + Work Experience

10+2 Pass

Exam Structure

2 Parts (1 Level)

3 Levels – 20 Papers


6 Months

Read more: Difference between CA, CFA, and FCA

How to Become a Certified Management Accountant?

To get the CMA certification, you must have:

  • Membership in the IMA.
  • A bachelor's degree from an accredited university.
  • Two years of relevant experience.
  • Passed both the parts of CMA Exams.

Check Also: How to Become a Company Secretary?

CMA: Exam Pattern 2024

Given below is the exam pattern for the intermediate, final, and foundation courses for the year 2024: 

CMA: Exam Pattern for Intermediate and Final Courses

  • Exam Mode: Computer-Based Test from the Center.
  • Exam Type: Descriptive mode only.
  • Marks per Paper: Each paper carries 100 marks.
  • Test Duration: Each paper is three hours long.

CMA: Exam Pattern for Foundation Courses

  • Exam Mode: Remotely proctored test from home.
  • Exam Type: Objective type.
  • Marks per Paper: Each paper carries 100 marks.
  • Test Duration: Each paper is two hours long.

CMA Syllabus

Given below is the CMA syllabus for the year 2024: 

Foundation Course: 

  • 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: 

CMA Intermediate Course 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)

CMA Intermediate Course 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: 

Final Course Group – III

  • 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)

Final Course Group – IV

  • PAPER 17: Cost and Management Audit (CMAD) 
  • PAPER 18: Corporate Financial Reporting (CFR) 
  • PAPER 19: Indirect Tax Laws and Practice (ITLP)
  • PAPER 20: One of the following subjects
  • PAPER 20A: Strategic Performance Management and Business Valuation (SPMBV)
  • PAPER 20B: Risk Management in Banking and Insurance (RMBI) 
  • PAPER 20C: Entrepreneurship and Start-Up (ENTS)

Check out: ACCA Subjects 

CMA: Responsibilities

The following are the responsibilities of a Certified Management Accountant:

  • The CMA tracks the financial statements, analyzes results, and prepares roots to improve the productivity of the company.
  • A CMA is responsible for converting the recorded data into financial reports.
  • They play the role of a supervisor for other accountants and accounting managers in the financial department.
  • CMA helps in predicting the future risks that may affect the productivity of a company and further executes to eliminate these risks.

CMA: Jobs 

Students can explore and take on multiple roles in a company post-course completion. These include:

  • Internal Auditor
  • Cost Accountant
  • Finance Manager
  • Assistant Finance Manager
  • Chief Financial Officer
  • Financial Analyst
  • Financial Risk Manager
  • Finance Manager
  • Financial Controller
  • Cost Accountant
  • Cost Manager
  • Chief Financial Officer
  • Relationship Manager

CMA: Salary

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


2.92 LPA

Certified Management Accountant


Cost Accountant

7.05 LPA

Financial Controller

24.35 LPA

Internal Auditor

5.85 LPA

Finance Analyst

5.40 LPA

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Frequently Asked Questions

What is the full form of CMA?

CMA full form is Certified Management Accountant.

What is CMA course duration?

CMA course duration in India is 3 years.

What does a CMA do?

track the financial statements, play the role of a supervisor, predict the future risks that may affect the productivity of a company etc.

How long does it take to complete CMA?

It takes 3 years to complete CMA in India.

What is the salary of a CMA in India?

Average salary for a CMA in India is 7 Lakhs per year (₹58.3k per month).

What is the scope of CMA?

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.

What's better CMA or CPA?

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.

Is CMA a popular course?

The CMA course is increasing in popularity among business students, particularly those who want to pursue a career in Cost and Management Accounting.

Who Earns More CA or CMA?

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.

Is CMA exam difficult?

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.

Is CMA better than MBA?

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.

What is the passing criteria for CMA Final examination 2024?

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.

What kind of subjects are covered in the CMA Exam?

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.

How many papers are there in the CMA?

There are total of 20 papers in the CMA Exam distributed in the CMA Foundation, CMA Inter, and CMA Final.

What is the pass percentage for CMA intermediate exam?

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.

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