Cost Management Accountant (CMA)


Cost Management Accountant (CMA)

ICWA Course opens up a plethora of financial management opportunities and helps in providing the necessary experience to the aspirants, enabling them to take on the demands of the ever-changing corporate world. The examination in Cost Accountancy that is held by ICWAI (Institute of Cost and Works Accountants of India) is now known as CMA or Cost Management Accounting. Wisdom Academy offers the Best ICWA Classes in Mumbai as well as Home Tuitions for the same. The ICWA course is divided into three parts: Foundation, Intermediate, and Final.

1. Foundation course

The ICWA/CMA course at the Foundation level (CMA: Foundation Examination) consists of only theoretical examinations. There are 6 subjects to be studied arranged into 4 papers of 100 marks each.

  • Paper 1: Fundamentals of Economics and Management (100 Marks)
  • Paper 2: Accounting (100 Marks)
  • Paper 3: Fundamentals of Law and Ethics (100 Marks)
  • Paper 4: Business Mathematics and Statistics (100 Marks)

To pass a student has to obtain a minimum of 40% in each paper and an aggregate of 50% in all the papers together, failing which the student has to reappear in all the 4 papers again.

2. Intermediate Course

The ICWA/CMA course at the Intermediate level (CMA: Intermediate Examination) consists of theoretical examinations as well as compulsory practical trainings. The theoretical examinations consist of 8 subjects to be studied arranged into 2 stages of 4 papers of 100 marks each.

Group 1

  • Financial Accounting
  • Law, Ethics & Governance
  • Direct Taxation
  • Cost Accounting & Financial Management

Group 2

  • Operation Management & information system
  • Cost and Management Accountancy
  • Company Accounts and Auditing
  • Indirect Taxation

NOTE: All the above subjects are of 100 marks each

To pass a student has to obtain a minimum of 40% in each paper and an aggregate of 50% in all the papers of a stage together, failing which the student has to reappear in all the papers again. Even if the student appears in both the stages together each stage will be considered separately for assessing the result.

3. Final Course

Successful students at the CMA Intermediate examination are eligible to register for CMA Final course. Examinations for this will be held in the month of June and December of every calendar year. CMA Final Consists of two groups Group III and Group IV.

Group 1

  • Corporate Law and Compliance
  • Advanced Financial Management
  • Business Strategy and Strategic Cost Management
  • Tax Management and Practice

Group 2

  • Strategic Performance Management
  • Corporate Financial Reporting
  • Cost and Management Audit
  • Financial Analysis and Business Valuation

NOTE:

  • All the above subjects are of 100 marks each
  • In each paper candidates are required to score 40 marks and 50% in aggregate (total).
  • There is a mandatory Industry Oriented Training Program of 42 hours that a candidate must take and a Practical Training for 3 years.

Out of the total period of 3 years of Practical Training a student must be registered for a period of 1 year out of which at least 6 months must be completed before 31st March/30th September respectively to become eligible to make an application for examination to be held in June/December for appearing in both the groups or for the remaining group in the final course (Having qualified the other group of the course)

Wisdom Academy provides the Best ICWA Classes in Mumbai for Foundation, Intermediate and Final courses of ICWA by expert faculties at their ICWA Classes in Andheri and Borivali. We also provide Home Tuitions for ICWA by expert faculties.